# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0001752724-23-069728
**Filing Date:** 2023-3
**Character Count:** 288140
**Document Hash:** e71c98f56d62e7401dd4759a970fa8cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069728.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069728

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IndexIQ Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 23767967

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 888-474-7725

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Series and Classes Contracts Data

### IQ MacKay Multi-Sector Income ETF (Series ID: S000076613)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000236602 | IQ MacKay Multi-Sector Income ETF | MMSB            |

## Nport-Ex

Schedule of Investments — IQ MacKay Multi-Sector Income ETF

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Long - Term Bonds 97.2%** | | |
| **Collateralized Mortgage Obligations — 7.2%** | **Collateralized Mortgage Obligations — 7.2%** | |
| **Mortgage Securities — 7.2%** |  |  |
| Fannie Mae Connecticut Avenue Securities |  |  |
| &nbsp;&nbsp;Series 2017-C03, 1B1, 9.356%, (1-Month LIBOR + 4.85%), due 10/25/29<sup>(a)</sup> | $35000 | $37302 |
| &nbsp;&nbsp;Series 2017-C07, 1B1, 8.506%, (1-Month LIBOR + 4.00%), due 5/25/30<sup>(a)</sup> | 120000 | 124197 |
| &nbsp;&nbsp;Series 2018-C01, 1B1, 8.056%, (1-Month LIBOR + 3.55%), due 7/25/30<sup>(a)</sup> | 100000 | 102583 |
| &nbsp;&nbsp;Series 2018-C03, 1B1, 8.256%, (1-Month LIBOR + 3.75%), due 10/25/30<sup>(a)</sup> | 175000 | 181932 |
| &nbsp;&nbsp;Series 2018-C04, 2B1, 9.006%, (1-Month LIBOR + 4.50%), due 12/25/30<sup>(a)</sup> | 75000 | 79167 |
| &nbsp;&nbsp;Series 2018-C05, 1B1, 8.756%, (1-Month LIBOR + 4.25%), due 1/25/31<sup>(a)</sup> | 85000 | 87973 |
| Fannie Mae Interest Strip |  |  |
| &nbsp;&nbsp;Series 2022-427, C77, 2.500%, due 9/25/51<sup>(b)</sup> | 211334 | 30962 |
| Fannie Mae REMICS |  |  |
| &nbsp;&nbsp;Series 2016-57, SN, 1.544%, (1-Month LIBOR + 6.05%), due 6/25/46<sup>(a)(b)</sup> | 81768 | 9310 |
| &nbsp;&nbsp;Series 2019-32, SB, 1.544%, (1-Month LIBOR + 6.05%), due 6/25/49<sup>(a)(b)</sup> | 70201 | 7820 |
| Series 2020-49, PB, 1.750%, due 7/25/50 | 42846 | 34623 |
| &nbsp;&nbsp;Series 2021-34, MI, 2.500%, due 3/25/51<sup>(b)</sup> | 88527 | 11130 |
| Freddie Mac REMICS |  |  |
| &nbsp;&nbsp;Series 2020-5036, IO, 3.500%, due 11/25/50<sup>(b)</sup> | 71359 | 14380 |
| &nbsp;&nbsp;Series 2020-5040, IO, 3.500%, due 11/25/50<sup>(b)</sup> | 70311 | 11491 |
| Freddie Mac STACR REMIC Trust 2020-DNA6 |  |  |
| &nbsp;&nbsp;Series 2020-DNA6, M2, 6.310%, (SOFR + 2.00%), due 12/25/50<sup>(a)</sup> | 85615 | 85401 |
| Freddie Mac STACR REMIC Trust 2021-HQA2 |  |  |
| &nbsp;&nbsp;Series 2021-HQA2, B1, 7.460%, (SOFR + 3.15%), due 12/25/33<sup>(a)</sup> | 90000 | 78075 |
| Freddie Mac STACR REMIC Trust 2021-HQA3 |  |  |
| &nbsp;&nbsp;Series 2021-HQA3, B1, 7.660%, (SOFR + 3.35%), due 9/25/41<sup>(a)</sup> | 90000 | 80909 |
| &nbsp;&nbsp;Series 2021-HQA3, M2, 6.410%, (SOFR + 2.10%), due 9/25/41<sup>(a)</sup> | 90000 | 80668 |
| Freddie Mac STACR REMIC Trust 2022-DNA2 |  |  |
| &nbsp;&nbsp;Series 2022-DNA2, M1B, 6.710%, (SOFR + 2.40%), due 2/25/42<sup>(a)</sup> | 65000 | 63827 |
| Freddie Mac STACR REMIC Trust 2022-DNA3 |  |  |
| &nbsp;&nbsp;Series 2022-DNA3, M1B, 7.210%, (SOFR + 2.90%), due 4/25/42<sup>(a)</sup> | 128000 | 128418 |
| Freddie Mac STACR Trust 2019-DNA1 |  |  |
| &nbsp;&nbsp;Series 2019-DNA1, B1, 9.156%, (1-Month LIBOR + 4.65%), due 1/25/49<sup>(a)</sup> | 70000 | 74286 |
| Freddie Mac STACR Trust 2019-DNA2 |  |  |
| &nbsp;&nbsp;Series 2019-DNA2, B1, 8.856%, (1-Month LIBOR + 4.35%), due 3/25/49<sup>(a)</sup> | 95000 | 99254 |
| Freddie Mac Strips |  |  |
| &nbsp;&nbsp;Series 2013-311, , 0.000%, due 8/15/43<sup>(c)(d)</sup> | 17646 | 13582 |
| &nbsp;&nbsp;Series 2013-311, S1, 1.491%, (1-Month LIBOR + 5.95%), due 8/15/43<sup>(a)(b)</sup> | 69703 | 7511 |
| Freddie Mac Structured Agency Credit Risk Debt Notes |  |  |
| &nbsp;&nbsp;Series 2018-HQA1, M2, 6.806%, (1-Month LIBOR + 2.30%), due 9/25/30<sup>(a)</sup> | 22798 | 22969 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;Series 2020-34, SC, 1.564%, (1-Month LIBOR + 6.05%), due 3/20/50<sup>(a)(b)</sup> | 67785 | 7343 |
| Series 2020-97, HB, 1.000%, due 7/20/50 | 20751 | 16224 |
| &nbsp;&nbsp;Series 2021-122, HS, 1.814%, (1-Month LIBOR + 6.30%), due 7/20/51<sup>(a)(b)</sup> | 103590 | 14267 |
| &nbsp;&nbsp;Series 2021-136, SB, 0.000%, (SOFR + 3.20%), due 8/20/51<sup>(a)(b)</sup> | 304237 | 4734 |
| &nbsp;&nbsp;Series 2021-216, SA, 0.000%, (SOFR + 3.80%), due 12/20/51<sup>(a)(b)</sup> | 644436 | 12062 |
| &nbsp;&nbsp;Series 2021-41, FS, 2.000%, (SOFR + 0.20%), due 10/20/50<sup>(a)(b)</sup> | 73703 | 7480 |
| &nbsp;&nbsp;Series 2021-57, AI, 2.000%, due 2/20/51<sup>(b)</sup> | 110937 | 11482 |
| &nbsp;&nbsp;Series 2021-96, FG, 3.500%, (SOFR + 0.30%), due 6/20/51<sup>(a)</sup> | 80362 | 72380 |
| &nbsp;&nbsp;Series 2022-83, IO, 2.500%, due 11/20/51<sup>(b)</sup> | 92530 | 12314 |
| Series 2023-1, HD, 3.500%, due 1/20/52 | 25000 | 23408 |
| Series 2023-1, MA, 3.500%, due 5/20/50 | 20000 | 18979 |
| J.P. Morgan Mortgage Trust 2022-INV3 |  |  |
| &nbsp;&nbsp;Series 2022-INV3, A3B, 3.000%, due 9/25/52<sup>(a),(e)</sup> | 92200 | 79958 |
| OBX 2019-INV2 Trust |  |  |
| &nbsp;&nbsp;Series 2019-INV2, A5, 4.000%, due 5/27/49<sup>(a),(e)</sup> | 29161 | 27819 |
|  |  | 1776220 |
| **Total Collateralized Mortgage Obligations** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $1,774,269)** |  | **1776220** |
| **Commercial Asset-Backed Securities — 8.0%** |  |  |
| **Asset Backed Securities — 8.0%** |  |  |
| AMSR 2020-SFR2 Trust |  |  |
| Series 2020-SFR2, A, 1.632%, due 7/17/37 | 100000 | 92175 |
| CF Hippolyta Issuer LLC |  |  |
| Series 2020-1, A1, 1.690%, due 7/15/60 | 90251 | 81557 |
| Series 2021-1A, A1, 1.530%, due 3/15/61 | 94565 | 83347 |
| DB Master Finance LLC |  |  |
| Series 2019-1A, A23, 4.352%, due 5/20/49 | 96750 | 92379 |
| Drive Auto Receivables Trust 2021-2 |  |  |
| Series 2021-2, D, 1.390%, due 3/15/29 | 76000 | 71106 |
| Enterprise Fleet Financing 2022-2 LLC |  |  |
| Series 2022-2, A3, 4.790%, due 5/21/29 | 100000 | 99937 |
| Exeter Automobile Receivables Trust 2021-3 |  |  |
| Series 2021-3A, D, 1.550%, due 6/15/27 | 35000 | 32040 |
| FirstKey Homes 2020-SFR2 Trust |  |  |
| Series 2020-SFR2, A, 1.266%, due 10/19/37 | 118583 | 107784 |
| Flagship Credit Auto Trust 2020-3 |  |  |
| Series 2020-3, D, 2.500%, due 9/15/26 | 115000 | 107095 |
| Hertz Vehicle Financing III LP |  |  |
| Series 2021-2A, C, 2.520%, due 12/27/27 | 140000 | 121406 |
| Hertz Vehicle Financing LLC |  |  |
| Series 2021-1A, A, 1.210%, due 12/26/25 | 100000 | 93032 |
| Hilton Grand Vacations Trust 2019-A |  |  |
| Series 2019-AA, B, 2.540%, due 7/25/33 | 42370 | 39782 |
| Home Partners of America 2021-2 Trust |  |  |
| Series 2021-2, A, 1.901%, due 12/17/26 | 118715 | 106138 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| Hyundai Auto Receivables Trust 2021-A |  |  |
| Series 2021-A, C, 1.330%, due 11/15/27 | $35000 | $31619 |
| MVW 2021-1W LLC |  |  |
| Series 2021-1WA, B, 1.440%, due 1/22/41 | 62763 | 57309 |
| Navient Private Education Refi Loan Trust 2021-A |  |  |
| Series 2021-A, A, 0.840%, due 5/15/69 | 77260 | 68279 |
| New Economy Assets Phase 1 Sponsor LLC |  |  |
| Series 2021-1, A1, 1.910%, due 10/20/61 | 100000 | 87087 |
| PFS Financing Corp. |  |  |
| Series 2022-A, A, 2.470%, due 2/15/27 | 100000 | 95073 |
| Series 2022-D, A, 4.270%, due 8/15/27 | 100000 | 98926 |
| Series 2022-D, B, 4.900%, due 8/15/27 | 100000 | 98115 |
| Progress Residential 2021-SFR1 |  |  |
| Series 2021-SFR1, A, 1.052%, due 4/17/38 | 99805 | 88454 |
| Progress Residential 2021-SFR4 |  |  |
| Series 2021-SFR4, A, 1.558%, due 5/17/38 | 100000 | 89502 |
| Santander Drive Auto Receivables Trust 2021-4 |  |  |
| Series 2021-4, D, 1.670%, due 10/15/27 | 100000 | 92911 |
| Taco Bell Funding LLC |  |  |
| Series 2021-1A, A23, 2.542%, due 8/25/51 | 59400 | 47950 |
|  |  | 1983003 |
| **Total Commercial Asset-Backed Securities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $2,012,465)** |  | **1983003** |
| **Commercial Mortgage-Backed Securities — 7.9%** |  |  |
| **Mortgage Securities — 7.9%** |  |  |
| BAMLL Commercial Mortgage Securities Trust 2022-DKLX |  |  |
| &nbsp;&nbsp;Series 2022-DKLX, C, 6.629%, (TSFR1M + 2.15%), due 1/15/39<sup>(a)</sup> | 100000 | 96389 |
| BX Commercial Mortgage Trust 2020-VIV2 |  |  |
| &nbsp;&nbsp;Series 2020-VIV2, C, 3.542%, due 3/9/44<sup>(a),(e)</sup> | 100000 | 83819 |
| BX Commercial Mortgage Trust 2020-VIVA |  |  |
| &nbsp;&nbsp;Series 2020-VIVA, D, 3.549%, due 3/11/44<sup>(a),(e)</sup> | 100000 | 79992 |
| BX Commercial Mortgage Trust 2021-21M |  |  |
| &nbsp;&nbsp;Series 2021-21M, C, 5.636%, (1-Month LIBOR + 1.18%), due 10/15/36<sup>(a)</sup> | 74501 | 72815 |
| BX Commercial Mortgage Trust 2021-ACNT |  |  |
| &nbsp;&nbsp;Series 2021-ACNT, B, 5.710%, (1-Month LIBOR + 1.25%), due 11/15/38<sup>(a)</sup> | 100000 | 97403 |
| BX Commercial Mortgage Trust 2021-VOLT |  |  |
| &nbsp;&nbsp;Series 2021-VOLT, E, 6.459%, (1-Month LIBOR + 2.00%), due 9/15/36<sup>(a)</sup> | 100000 | 96120 |
| BX Trust 2018-GW |  |  |
| &nbsp;&nbsp;Series 2018-GW, A, 5.259%, (1-Month LIBOR + 0.80%), due 5/15/35<sup>(a)</sup> | 100000 | 98337 |
| BX Trust 2021-ARIA |  |  |
| &nbsp;&nbsp;Series 2021-ARIA, E, 6.704%, (1-Month LIBOR + 2.24%), due 10/15/36<sup>(a)</sup> | 100000 | 93242 |
| BX Trust 2021-RISE |  |  |
| &nbsp;&nbsp;Series 2021-RISE, B, 5.709%, (1-Month LIBOR + 1.25%), due 11/15/36<sup>(a)</sup> | 100000 | 98281 |
| &nbsp;&nbsp;Series 2021-RISE, C, 5.909%, (1-Month LIBOR + 1.45%), due 11/15/36<sup>(a)</sup> | 100000 | 96468 |
| BX Trust 2022-PSB |  |  |
| &nbsp;&nbsp;Series 2022-PSB, D, 9.171%, (TSFR1M + 4.69%), due 8/15/39<sup>(a)</sup> | 98856 | 99350 |
| BXHPP Trust 2021-FILM |  |  |
| &nbsp;&nbsp;Series 2021-FILM, B, 5.359%, (1-Month LIBOR + 0.90%), due 8/15/36<sup>(a)</sup> | 130000 | 121376 |
| CSMC 2020-WEST Trust |  |  |
| Series 2020-WEST, A, 3.040%, due 2/15/35 | 100000 | 81204 |
| FREMF 2017-K71 Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2017-K71, B, 3.752%, due 11/25/50<sup>(a),(e)</sup> | 100000 | 93758 |
| FREMF 2019-K99 Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2019-K99, B, 3.645%, due 10/25/52<sup>(a),(e)</sup> | 100000 | 90998 |
| Hudson Yards 2019-30HY Mortgage Trust |  |  |
| Series 2019-30HY, A, 3.228%, due 7/10/39 | 100000 | 89796 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-OSB |  |  |
| Series 2019-OSB, A, 3.397%, due 6/5/39 | 100000 | 89407 |
| Manhattan West 2020-1MW Mortgage Trust |  |  |
| Series 2020-1MW, A, 2.130%, due 9/10/39 | 100000 | 87768 |
| Multifamily Connecticut Avenue Securities Trust 2019-01 |  |  |
| &nbsp;&nbsp;Series 2019-01, M10, 7.756%, (1-Month LIBOR + 3.25%), due 10/25/49<sup>(a)</sup> | 94304 | 89260 |
| Multifamily Connecticut Avenue Securities Trust 2020-01 |  |  |
| &nbsp;&nbsp;Series 2020-01, M10, 8.256%, (1-Month LIBOR + 3.75%), due 3/25/50<sup>(a)</sup> | 35000 | 33031 |
| One Bryant Park Trust 2019-OBP |  |  |
| Series 2019-OBP, A, 2.516%, due 9/15/54 | 100000 | 84736 |
| SLG Office Trust 2021-OVA |  |  |
| Series 2021-OVA, A, 2.585%, due 7/15/41 | 100000 | 83609 |
|  |  | 1957159 |
| **Total Commercial Mortgage-Backed Securities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $1,980,881)** |  | **1957159** |
| **Corporate Bonds — 37.4%** |  |  |
| **Advertising — 0.1%** |  |  |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| 5.125%, due 8/15/27 | 12000 | 10884 |
| Lamar Media Corp. |  |  |
| 4.000%, due 2/15/30 | 16000 | 14240 |
|  |  | 25124 |
| **Aerospace/Defense — 0.1%** |  |  |
| Howmet Aerospace, Inc. |  |  |
| 3.000%, due 1/15/29 | 34000 | 29665 |
| **Agriculture — 0.3%** |  |  |
| Altria Group, Inc. |  |  |
| 4.800%, due 2/14/29 | 50000 | 49458 |
| Darling Ingredients, Inc. |  |  |
| 5.250%, due 4/15/27 | 22000 | 21455 |
| 6.000%, due 6/15/30 | 6000 | 5970 |
|  |  | 76883 |
| **Airlines — 2.1%** |  |  |
| Allegiant Travel Co. |  |  |
| 7.250%, due 8/15/27 | 5000 | 4888 |
| American Airlines, Inc. |  |  |
| 11.750%, due 7/15/25 | 16000 | 17809 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. |  |  |
| 5.500%, due 4/20/26 | 22000 | 21567 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Airlines (continued)** |  |  |
| Delta Air Lines Inc / SkyMiles IP Ltd. |  |  |
| 4.750%, due 10/20/28 | $90000 | $87688 |
| JetBlue 2019-1 Class AA Pass-Through Trust |  |  |
| Series 2019-1, AA2.750%, due 5/15/32 | 99576 | 83533 |
| Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. |  |  |
| 6.500%, due 6/20/27 | 97200 | 98202 |
| Southwest Airlines Co. |  |  |
| 1.250%, due 5/1/25 | 94000 | 112706 |
| United Airlines 2020-1 Class A Pass-Through Trust |  |  |
| Series 2020-1, 5.875%, due 10/15/27 | 82999 | 83985 |
| United Airlines, Inc. |  |  |
| 4.375%, due 4/15/26 | 6000 | 5696 |
| 4.625%, due 4/15/29 | 6000 | 5473 |
|  |  | 521547 |
| **Auto Manufacturers — 1.0%** |  |  |
| Ford Motor Co. |  |  |
| 7.400%, due 11/1/46 | 12000 | 12380 |
| Ford Motor Credit Co. LLC |  |  |
| 3.375%, due 11/13/25 | 22000 | 20488 |
| 4.950%, due 5/28/27 | 22000 | 20994 |
| 5.584%, due 3/18/24 | 12000 | 11913 |
| General Motors Co. |  |  |
| 6.125%, due 10/1/25 | 60000 | 61530 |
| General Motors Financial Co., Inc. |  |  |
| 2.350%, due 1/8/31 | 80000 | 63912 |
| Nissan Motor Acceptance Co. LLC |  |  |
| 1.850%, due 9/16/26 | 75000 | 64784 |
|  |  | 256001 |
| **Auto Parts & Equipment — 0.2%** |  |  |
| Clarios Global LP |  |  |
| 6.750%, due 5/15/25 | 6000 | 6037 |
| Clarios Global LP / Clarios US Finance Co. |  |  |
| 6.250%, due 5/15/26 | 6000 | 5960 |
| 8.500%, due 5/15/27 | 16000 | 15936 |
| Dana, Inc. |  |  |
| 4.500%, due 2/15/32 | 16000 | 13496 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 4.875%, due 3/15/27 | 12000 | 11236 |
|  |  | 52665 |
| **Banks — 4.8%** |  |  |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;2.087%, (SOFR + 1.06%), due 6/14/29<sup>(a)</sup> | 85000 | 74077 |
| &nbsp;&nbsp;2.496%, (3-Month LIBOR + 0.99%), due 2/13/31<sup>(a)</sup> | 90000 | 76556 |
| 4.250%, due 10/22/26 | 90000 | 88242 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;2.520%, (SOFR + 1.18%), due 11/3/32<sup>(a)</sup> | 90000 | 73678 |
| &nbsp;&nbsp;Series Y, 4.150%, (US 5 Year CMT T-Note + 3.00%), due 2/15/71<sup>(a)</sup> | 125000 | 111250 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;Series G, 4.000%, (US 5 Year CMT T-Note + 3.22%), due 10/6/71<sup>(a)</sup> | 95000 | 82310 |
| Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;2.615%, (SOFR + 1.28%), due 4/22/32<sup>(a)</sup> | 75000 | 62667 |
| &nbsp;&nbsp;Series ., 5.776%, (3-Month LIBOR + 1.17%), due 5/15/26<sup>(a)</sup> | 90000 | 90847 |
| &nbsp;&nbsp;Series V, 4.125%, (US 5 Year CMT T-Note + 2.95%), due 5/10/71<sup>(a)</sup> | 90000 | 80053 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;2.182%, (SOFR + 1.89%), due 6/1/28<sup>(a)</sup> | 100000 | 89665 |
| &nbsp;&nbsp;Series HH, 4.600%, (SOFR + 3.13%), due 8/1/71<sup>(a)</sup> | 35000 | 32900 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;2.484%, (SOFR + 1.36%), due 9/16/36<sup>(a)</sup> | 110000 | 85268 |
| &nbsp;&nbsp;2.511%, (SOFR + 1.20%), due 10/20/32<sup>(a)</sup> | 90000 | 74327 |
| SVB Financial Group |  |  |
| &nbsp;&nbsp;Series C, 4.000%, (US 5 Year CMT T-Note + 3.20%), due 8/15/71<sup>(a)</sup> | 65000 | 52040 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;2.879%, (TSFR3M + 1.43%), due 10/30/30<sup>(a)</sup> | 20000 | 17700 |
| &nbsp;&nbsp;3.526%, (SOFR + 1.51%), due 3/24/28<sup>(a)</sup> | 105000 | 99855 |
|  |  | 1191435 |
| **Beverages — 0.0%<sup>(f)</sup>** |  |  |
| Triton Water Holdings, Inc. |  |  |
| 6.250%, due 4/1/29 | 6000 | 4763 |
| **Biotechnology — 0.6%** |  |  |
| BioMarin Pharmaceutical, Inc. |  |  |
| 1.250%, due 5/15/27 | 123000 | 138375 |
| **Building Materials — 0.1%** |  |  |
| Camelot Return Merger Sub, Inc. |  |  |
| 8.750%, due 8/1/28 | 7000 | 6582 |
| Standard Industries, Inc. |  |  |
| 4.375%, due 7/15/30 | 12000 | 10258 |
|  |  | 16840 |
| **Chemicals — 0.1%** |  |  |
| Innophos Holdings, Inc. |  |  |
| 9.375%, due 2/15/28 | 12000 | 11833 |
| **Commercial Services — 1.0%** |  |  |
| Allied Universal Holdco LLC / Allied Universal Finance Corp. |  |  |
| 6.000%, due 6/1/29 | 6000 | 4828 |
| 6.625%, due 7/15/26 | 22000 | 21180 |
| 9.750%, due 7/15/27 | 12000 | 11460 |
| Avis Budget Car Rental LLC / Avis Budget Finance, Inc. |  |  |
| 4.750%, due 4/1/28 | 6000 | 5273 |
| Block, Inc. |  |  |
| 3.500%, due 6/1/31 | 6000 | 5010 |
| Brink's Co. (The) |  |  |
| 5.500%, due 7/15/25 | 6000 | 5911 |
| Carriage Services, Inc. |  |  |
| 4.250%, due 5/15/29 | 22000 | 18101 |
| HealthEquity, Inc. |  |  |
| 4.500%, due 10/1/29 | 12000 | 10744 |
| Herc Holdings, Inc. |  |  |
| 5.500%, due 7/15/27 | 28000 | 26810 |
| Hertz Corp. (The) |  |  |
| 4.625%, due 12/1/26 | 6000 | 5340 |
| NESCO Holdings II, Inc. |  |  |
| 5.500%, due 4/15/29 | 16000 | 14370 |
| Prime Security Services Borrower LLC / Prime Finance, Inc. |  |  |
| 3.375%, due 8/31/27 | 18000 | 15972 |
| Service Corp. International |  |  |
| 3.375%, due 8/15/30 | 18000 | 15126 |
| 5.125%, due 6/1/29 | 12000 | 11491 |
| 7.500%, due 4/1/27 | 6000 | 6239 |
| Sotheby's |  |  |
| 7.375%, due 10/15/27 | 12000 | 11526 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Commercial Services (continued)** |  |  |
| Sotheby's/Bidfair Holdings, Inc. |  |  |
| 5.875%, due 6/1/29 | $12000 | $10263 |
| United Rentals North America, Inc. |  |  |
| 3.750%, due 1/15/32 | 22000 | 19023 |
| WASH Multifamily Acquisition, Inc. |  |  |
| 5.750%, due 4/15/26 | 18000 | 16609 |
| Williams Scotsman International, Inc. |  |  |
| 4.625%, due 8/15/28 | 6000 | 5559 |
| 6.125%, due 6/15/25 | 6000 | 6030 |
|  |  | 246865 |
| **Computers — 1.2%** |  |  |
| Apple, Inc. |  |  |
| 3.850%, due 8/4/46 | 40000 | 36007 |
| Dell International LLC / EMC Corp. |  |  |
| 3.375%, due 12/15/41 | 70000 | 50402 |
| 5.300%, due 10/1/29 | 65000 | 65617 |
| Lumentum Holdings, Inc. |  |  |
| 0.500%, due 12/15/26 | 117000 | 106177 |
| NCR Corp. |  |  |
| 5.125%, due 4/15/29 | 10000 | 8711 |
| 5.250%, due 10/1/30 | 6000 | 5189 |
| Presidio Holdings, Inc. |  |  |
| 8.250%, due 2/1/28 | 6000 | 5768 |
| Seagate HDD Cayman |  |  |
| 4.125%, due 1/15/31 | 3000 | 2520 |
| 9.625%, due 12/1/32 | 2400 | 2718 |
| Tempo Acquisition LLC / Tempo Acquisition Finance Corp. |  |  |
| 5.750%, due 6/1/25 | 6000 | 6057 |
|  |  | 289166 |
| **Cosmetics/Personal Care — 0.0%<sup>(f)</sup>** |  |  |
| Edgewell Personal Care Co. |  |  |
| 5.500%, due 6/1/28 | 12000 | 11364 |
| **Distribution/Wholesale — 0.1%** |  |  |
| H&E Equipment Services, Inc. |  |  |
| 3.875%, due 12/15/28 | 22000 | 19361 |
| **Diversified Financial Services — 1.5%** |  |  |
| Aircastle Ltd. |  |  |
| &nbsp;&nbsp;5.250%, (US 5 Year CMT T-Note + 4.41%), due 9/15/71<sup>(a)</sup> | 125000 | 102500 |
| Ally Financial, Inc. |  |  |
| 8.000%, due 11/1/31 | 55000 | 60574 |
| &nbsp;&nbsp;Series C, 4.700%, (US 7 Year CMT T-Note + 3.48%), due 8/15/71<sup>(a)</sup> | 115000 | 88262 |
| Aviation Capital Group LLC |  |  |
| 1.950%, due 1/30/26 | 100000 | 88952 |
| OneMain Finance Corp. |  |  |
| 3.500%, due 1/15/27 | 6000 | 5218 |
| 6.125%, due 3/15/24 | 12000 | 11898 |
| PennyMac Financial Services, Inc. |  |  |
| 5.375%, due 10/15/25 | 12000 | 11160 |
| Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. |  |  |
| 3.625%, due 3/1/29 | 12000 | 10124 |
|  |  | 378688 |
| **Electric — 4.2%** |  |  |
| AEP Texas, Inc. |  |  |
| 4.700%, due 5/15/32 | 60000 | 59761 |
| Alabama Power Co. |  |  |
| 3.000%, due 3/15/52 | 85000 | 60637 |
| Arizona Public Service Co. |  |  |
| 2.200%, due 12/15/31 | 90000 | 71502 |
| Calpine Corp. |  |  |
| 3.750%, due 3/1/31 | 12000 | 10004 |
| 4.500%, due 2/15/28 | 12000 | 11073 |
| 5.125%, due 3/15/28 | 6000 | 5433 |
| 5.250%, due 6/1/26 | 6000 | 5803 |
| Clearway Energy Operating LLC |  |  |
| 3.750%, due 2/15/31 | 6000 | 5069 |
| 4.750%, due 3/15/28 | 28000 | 26410 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;Series C, 4.350%, (US 5 Year CMT T-Note + 3.20%), due 4/15/71<sup>(a)</sup> | 120000 | 107400 |
| Edison International |  |  |
| &nbsp;&nbsp;Series B, 5.000%, (US 5 Year CMT T-Note + 3.90%), due 3/15/71<sup>(a)</sup> | 125000 | 111136 |
| FirstEnergy Corp. |  |  |
| Series B, 4.150%, due 7/15/27 | 12000 | 11468 |
| Jersey Central Power & Light Co. |  |  |
| 2.750%, due 3/1/32 | 90000 | 76166 |
| NextEra Energy Operating Partners LP |  |  |
| 4.250%, due 7/15/24 | 6000 | 5860 |
| Ohio Power Co. |  |  |
| Series R, 2.900%, due 10/1/51 | 50000 | 35200 |
| Pacific Gas and Electric Co. |  |  |
| 3.500%, due 8/1/50 | 75000 | 50616 |
| Pattern Energy Operations LP / Pattern Energy Operations, Inc. |  |  |
| 4.500%, due 8/15/28 | 12000 | 11010 |
| PG&E Corp. |  |  |
| 5.000%, due 7/1/28 | 12000 | 11245 |
| Puget Energy, Inc. |  |  |
| 4.224%, due 3/15/32 | 65000 | 59372 |
| Sempra Energy |  |  |
| &nbsp;&nbsp;4.125%, (US 5 Year CMT T-Note + 2.87%), due 4/1/52<sup>(a)</sup> | 125000 | 109418 |
| Southern California Edison Co. |  |  |
| 4.000%, due 4/1/47 | 60000 | 50355 |
| Southwestern Electric Power Co. |  |  |
| 3.250%, due 11/1/51 | 65000 | 46026 |
| Virginia Electric and Power Co. |  |  |
| 2.950%, due 11/15/51 | 65000 | 46459 |
| Vistra Corp. |  |  |
| &nbsp;&nbsp;8.000%, (US 5 Year CMT T-Note + 6.93%), due 4/15/71<sup>(a)</sup> | 40000 | 39210 |
| Vistra Operations Co. LLC |  |  |
| 4.375%, due 5/1/29 | 12000 | 10552 |
| 5.625%, due 2/15/27 | 6000 | 5794 |
|  |  | 1042979 |
| **Electrical Components & Equipment — 0.1%** |  |  |
| Energizer Holdings, Inc. |  |  |
| 4.375%, due 3/31/29 | 12000 | 10421 |
| EnerSys |  |  |
| 4.375%, due 12/15/27 | 6000 | 5543 |
| WESCO Distribution, Inc. |  |  |
| 7.125%, due 6/15/25 | 12000 | 12192 |
| 7.250%, due 6/15/28 | 6000 | 6148 |
|  |  | 34304 |
| **Electronics — 0.0%<sup>(f)</sup>** |  |  |
| Imola Merger Corp. |  |  |
| 4.750%, due 5/15/29 | 6000 | 5220 |
| Sensata Technologies BV |  |  |
| 4.000%, due 4/15/29 | 6000 | 5385 |
|  |  | 10605 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Engineering & Construction — 0.2%** |  |  |
| Brundage-Bone Concrete Pumping Holdings, Inc. |  |  |
| 6.000%, due 2/1/26 | $12000 | $11437 |
| Dycom Industries, Inc. |  |  |
| 4.500%, due 4/15/29 | 18000 | 16114 |
| Great Lakes Dredge & Dock Corp. |  |  |
| 5.250%, due 6/1/29 | 6000 | 5057 |
| TopBuild Corp. |  |  |
| 4.125%, due 2/15/32 | 12000 | 10181 |
| Weekley Homes LLC / Weekley Finance Corp. |  |  |
| 4.875%, due 9/15/28 | 12000 | 10443 |
|  |  | 53232 |
| **Entertainment — 0.7%** |  |  |
| Affinity Gaming |  |  |
| 6.875%, due 12/15/27 | 16000 | 14324 |
| Caesars Entertainment, Inc. |  |  |
| 6.250%, due 7/1/25 | 6000 | 5977 |
| Caesars Resort Collection LLC / CRC Finco, Inc. |  |  |
| 5.750%, due 7/1/25 | 6000 | 6001 |
| CDI Escrow Issuer, Inc. |  |  |
| 5.750%, due 4/1/30 | 12000 | 11370 |
| Everi Holdings, Inc. |  |  |
| 5.000%, due 7/15/29 | 6000 | 5429 |
| International Game Technology PLC |  |  |
| 5.250%, due 1/15/29 | 6000 | 5758 |
| Penn Entertainment, Inc. |  |  |
| 4.125%, due 7/1/29 | 6000 | 4948 |
| Scientific Games Holdings LP/Scientific Games US FinCo, Inc. |  |  |
| 6.625%, due 3/1/30 | 6000 | 5345 |
| Scientific Games International, Inc. |  |  |
| 7.000%, due 5/15/28 | 12000 | 11880 |
| Warnermedia Holdings, Inc. |  |  |
| 3.755%, due 3/15/27 | 27000 | 25305 |
| 4.279%, due 3/15/32 | 70000 | 62297 |
| WMG Acquisition Corp. |  |  |
| 3.750%, due 12/1/29 | 10000 | 8752 |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. |  |  |
| 5.125%, due 10/1/29 | 10000 | 8925 |
|  |  | 176311 |
| **Environmental Control — 0.2%** |  |  |
| Clean Harbors, Inc. |  |  |
| 4.875%, due 7/15/27 | 6000 | 5789 |
| 5.125%, due 7/15/29 | 12000 | 11522 |
| Covanta Holding Corp. |  |  |
| 4.875%, due 12/1/29 | 12000 | 10485 |
| Stericycle, Inc. |  |  |
| 3.875%, due 1/15/29 | 12000 | 10647 |
| Waste Pro USA, Inc. |  |  |
| 5.500%, due 2/15/26 | 18000 | 16740 |
|  |  | 55183 |
| **Food — 0.5%** |  |  |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC |  |  |
| 3.500%, due 3/15/29 | 16000 | 13800 |
| JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. |  |  |
| 5.750%, due 4/1/33 | 65000 | 63737 |
| Performance Food Group, Inc. |  |  |
| 4.250%, due 8/1/29 | 12000 | 10707 |
| Post Holdings, Inc. |  |  |
| 5.750%, due 3/1/27 | 12000 | 11821 |
| Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed |  |  |
| 4.625%, due 3/1/29 | 6000 | 5087 |
| US Foods, Inc. |  |  |
| 4.625%, due 6/1/30 | 6000 | 5371 |
|  |  | 110523 |
| **Food Service — 0.1%** |  |  |
| Aramark Services, Inc. |  |  |
| 5.000%, due 2/1/28 | 6000 | 5655 |
| 6.375%, due 5/1/25 | 6000 | 6001 |
|  |  | 11656 |
| **Gas — 1.0%** |  |  |
| Boston Gas Co. |  |  |
| 3.150%, due 8/1/27 | 70000 | 64572 |
| National Fuel Gas Co. |  |  |
| 2.950%, due 3/1/31 | 75000 | 60744 |
| Piedmont Natural Gas Co., Inc. |  |  |
| 5.050%, due 5/15/52 | 65000 | 62869 |
| Southern Co. Gas Capital Corp. |  |  |
| Series 21A, 3.150%, due 9/30/51 | 70000 | 49034 |
|  |  | 237219 |
| **Healthcare-Products — 0.9%** |  |  |
| Avantor Funding, Inc. |  |  |
| 3.875%, due 11/1/29 | 22000 | 19339 |
| Exact Sciences Corp. |  |  |
| 0.375%, due 3/15/27 | 162000 | 152685 |
| Hologic, Inc. |  |  |
| 3.250%, due 2/15/29 | 22000 | 19356 |
| Teleflex, Inc. |  |  |
| 4.250%, due 6/1/28 | 12000 | 11069 |
| 4.625%, due 11/15/27 | 12000 | 11457 |
|  |  | 213906 |
| **Healthcare-Services — 0.3%** |  |  |
| Catalent Pharma Solutions, Inc. |  |  |
| 3.125%, due 2/15/29 | 6000 | 4963 |
| 3.500%, due 4/1/30 | 10000 | 8263 |
| Centene Corp. |  |  |
| 4.625%, due 12/15/29 | 28000 | 26602 |
| CHS/Community Health Systems, Inc. |  |  |
| 5.250%, due 5/15/30 | 10000 | 8069 |
| 6.000%, due 1/15/29 | 10000 | 8777 |
| Tenet Healthcare Corp. |  |  |
| 4.375%, due 1/15/30 | 16000 | 14223 |
| 6.125%, due 6/15/30 | 6000 | 5824 |
|  |  | 76721 |
| **Home Builders — 0.1%** |  |  |
| LGI Homes, Inc. |  |  |
| 4.000%, due 7/15/29 | 12000 | 9720 |
| Thor Industries, Inc. |  |  |
| 4.000%, due 10/15/29 | 7000 | 5821 |
| TRI Pointe Group, Inc. / TRI Pointe Homes, Inc. |  |  |
| 5.875%, due 6/15/24 | 12000 | 11959 |
|  |  | 27500 |
| **Household Products/Wares — 0.0%<sup>(f)</sup>** |  |  |
| Spectrum Brands, Inc. |  |  |
| 5.000%, due 10/1/29 | 6000 | 5287 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Housewares — 0.1%** |  |  |
| CD&R Smokey Buyer, Inc. |  |  |
| 6.750%, due 7/15/25 | $12000 | $10890 |
| Newell Brands, Inc. |  |  |
| 6.375%, due 9/15/27 | 5000 | 5026 |
|  |  | 15916 |
| **Insurance — 0.5%** |  |  |
| Athene Global Funding |  |  |
| 2.500%, due 3/24/28 | 20000 | 17406 |
| NMI Holdings, Inc. |  |  |
| 7.375%, due 6/1/25 | 6000 | 6068 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;5.125%, (US 5 Year CMT T-Note + 3.16%), due 3/1/52<sup>(a)</sup> | 95000 | 88625 |
|  |  | 112099 |
| **Internet — 0.9%** |  |  |
| Amazon.com, Inc. |  |  |
| 3.600%, due 4/13/32 | 65000 | 61842 |
| Arches Buyer, Inc. |  |  |
| 4.250%, due 6/1/28 | 12000 | 10080 |
| 6.125%, due 12/1/28 | 16000 | 13476 |
| Cablevision Lightpath LLC |  |  |
| 3.875%, due 9/15/27 | 6000 | 5100 |
| Cogent Communications Group, Inc. |  |  |
| 3.500%, due 5/1/26 | 6000 | 5555 |
| 7.000%, due 6/15/27 | 6000 | 5939 |
| Expedia Group, Inc. |  |  |
| 3.250%, due 2/15/30 | 60000 | 52744 |
| Match Group Holdings II LLC |  |  |
| 4.625%, due 6/1/28 | 22000 | 20235 |
| 5.625%, due 2/15/29 | 16000 | 15042 |
| TripAdvisor, Inc. |  |  |
| 7.000%, due 7/15/25 | 16000 | 16064 |
| Uber Technologies, Inc. |  |  |
| 7.500%, due 5/15/25 | 6000 | 6086 |
| 7.500%, due 9/15/27 | 12000 | 12184 |
|  |  | 224347 |
| **Investment Companies — 0.1%** |  |  |
| Icahn Enterprises LP / Icahn Enterprises Finance Corp. |  |  |
| 5.250%, due 5/15/27 | 18000 | 16760 |
| **Iron/Steel — 0.0%<sup>(f)</sup>** |  |  |
| Carpenter Technology Corp. |  |  |
| 7.625%, due 3/15/30 | 6000 | 6158 |
| **Leisure Time — 0.3%** |  |  |
| Carnival Corp. |  |  |
| 5.750%, due 3/1/27 | 10000 | 8300 |
| 6.000%, due 5/1/29 | 16000 | 12640 |
| Carnival Holdings Bermuda Ltd. |  |  |
| 10.375%, due 5/1/28 | 10000 | 10800 |
| NCL Corp. Ltd. |  |  |
| 5.875%, due 2/15/27 | 12000 | 11157 |
| 7.750%, due 2/15/29 | 5000 | 4299 |
| 8.375%, due 2/1/28 | 5000 | 5069 |
| Royal Caribbean Cruises Ltd. |  |  |
| 5.375%, due 7/15/27 | 27000 | 23487 |
|  |  | 75752 |
| **Lodging — 0.8%** |  |  |
| Boyd Gaming Corp. |  |  |
| 4.750%, due 12/1/27 | 12000 | 11408 |
| Hilton Domestic Operating Co., Inc. |  |  |
| 4.000%, due 5/1/31 | 12000 | 10398 |
| 4.875%, due 1/15/30 | 12000 | 11313 |
| Hyatt Hotels Corp. |  |  |
| 5.625%, due 4/23/25 | 85000 | 85796 |
| Marriott International, Inc. |  |  |
| Series GG, 3.500%, due 10/15/32 | 85000 | 75102 |
| Station Casinos LLC |  |  |
| 4.625%, due 12/1/31 | 6000 | 5057 |
|  |  | 199074 |
| **Machinery-Diversified — 0.0%<sup>(f)</sup>** |  |  |
| Chart Industries, Inc. |  |  |
| 7.500%, due 1/1/30 | 4000 | 4090 |
| **Media — 1.0%** |  |  |
| Cable One, Inc. |  |  |
| 4.000%, due 11/15/30 | 16000 | 13192 |
| CCO Holdings LLC / CCO Holdings Capital Corp. |  |  |
| 4.250%, due 2/1/31 | 56000 | 46651 |
| 4.750%, due 3/1/30 | 46000 | 40194 |
| 6.375%, due 9/1/29 | 10000 | 9650 |
| CSC Holdings LLC |  |  |
| 4.625%, due 12/1/30 | 16000 | 9461 |
| 5.500%, due 4/15/27 | 44000 | 38751 |
| Directv Financing LLC / Directv Financing Co.-Obligor, Inc. |  |  |
| 5.875%, due 8/15/27 | 16000 | 14493 |
| DISH DBS Corp. |  |  |
| 5.250%, due 12/1/26 | 6000 | 5171 |
| 7.375%, due 7/1/28 | 6000 | 4309 |
| iHeartCommunications, Inc. |  |  |
| 4.750%, due 1/15/28 | 6000 | 5130 |
| 5.250%, due 8/15/27 | 6000 | 5374 |
| News Corp. |  |  |
| 3.875%, due 5/15/29 | 6000 | 5369 |
| 5.125%, due 2/15/32 | 12000 | 11298 |
| Nexstar Media, Inc. |  |  |
| 5.625%, due 7/15/27 | 12000 | 11431 |
| Sirius XM Radio, Inc. |  |  |
| 4.125%, due 7/1/30 | 16000 | 13722 |
| Univision Communications, Inc. |  |  |
| 4.500%, due 5/1/29 | 6000 | 5162 |
|  |  | 239358 |
| **Mining — 0.1%** |  |  |
| Compass Minerals International, Inc. |  |  |
| 4.875%, due 7/15/24 | 6000 | 5815 |
| 6.750%, due 12/1/27 | 13000 | 12683 |
| Novelis Corp. |  |  |
| 3.875%, due 8/15/31 | 6000 | 5064 |
|  |  | 23562 |
| **Miscellaneous Manufacturing — 0.4%** |  |  |
| Gates Global LLC / Gates Corp. |  |  |
| 6.250%, due 1/15/26 | 20000 | 19697 |
| Textron Financial Corp. |  |  |
| &nbsp;&nbsp;6.341%, (3-Month LIBOR + 1.74%), due 2/15/42<sup>(a)</sup> | 100000 | 77375 |
|  |  | 97072 |
| **Office/Business Equipment — 0.0%<sup>(f)</sup>** |  |  |
| CDW LLC / CDW Finance Corp. |  |  |
| 5.500%, due 12/1/24 | 6000 | 5995 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Oil & Gas — 1.4%** |  |  |
| Aethon United BR LP / Aethon United Finance Corp. |  |  |
| 8.250%, due 2/15/26 | $12000 | $11940 |
| Apache Corp. |  |  |
| 5.100%, due 9/1/40 | 6000 | 5239 |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. |  |  |
| 5.875%, due 6/30/29 | 18000 | 15844 |
| 7.000%, due 11/1/26 | 12000 | 11437 |
| 8.250%, due 12/31/28 | 6000 | 5875 |
| Callon Petroleum Co. |  |  |
| 6.375%, due 7/1/26 | 6000 | 5779 |
| 7.500%, due 6/15/30 | 6000 | 5805 |
| CNX Resources Corp. |  |  |
| 6.000%, due 1/15/29 | 12000 | 11016 |
| 7.250%, due 3/14/27 | 2000 | 1990 |
| CrownRock LP / CrownRock Finance, Inc. |  |  |
| 5.000%, due 5/1/29 | 6000 | 5496 |
| Hilcorp Energy I LP / Hilcorp Finance Co. |  |  |
| 5.750%, due 2/1/29 | 16000 | 14880 |
| 6.000%, due 2/1/31 | 16000 | 14795 |
| Moss Creek Resources Holdings, Inc. |  |  |
| 7.500%, due 1/15/26 | 20000 | 18468 |
| Nabors Industries, Inc. |  |  |
| 7.375%, due 5/15/27 | 6000 | 6008 |
| Occidental Petroleum Corp. |  |  |
| 6.125%, due 1/1/31 | 22000 | 22961 |
| 6.375%, due 9/1/28 | 6000 | 6233 |
| 6.625%, due 9/1/30 | 12000 | 12740 |
| 8.500%, due 7/15/27 | 18000 | 19912 |
| PBF Holding Co. LLC / PBF Finance Corp. |  |  |
| 6.000%, due 2/15/28 | 6000 | 5657 |
| Permian Resources Operating LLC |  |  |
| 6.875%, due 4/1/27 | 22000 | 21558 |
| Rockcliff Energy II LLC |  |  |
| 5.500%, due 10/15/29 | 6000 | 5707 |
| SM Energy Co. |  |  |
| 5.625%, due 6/1/25 | 12000 | 11760 |
| 6.500%, due 7/15/28 | 12000 | 11415 |
| Southwestern Energy Co. |  |  |
| 4.750%, due 2/1/32 | 10000 | 8815 |
| 5.375%, due 3/15/30 | 22000 | 20488 |
| 5.700%, due 1/23/25 | 12000 | 11899 |
| 8.375%, due 9/15/28 | 6000 | 6302 |
| Tap Rock Resources LLC |  |  |
| 7.000%, due 10/1/26 | 6000 | 5679 |
| Transocean Titan Financing Ltd. |  |  |
| 8.375%, due 2/1/28 | 5000 | 5189 |
| Transocean, Inc. |  |  |
| 8.750%, due 2/15/30 | 9000 | 9279 |
| Vital Energy, Inc. |  |  |
| 7.750%, due 7/31/29 | 12000 | 11066 |
| 9.500%, due 1/15/25 | 6000 | 6055 |
| 10.125%, due 1/15/28 | 12000 | 11941 |
|  |  | 349228 |
| **Oil & Gas Services — 1.5%** |  |  |
| Helix Energy Solutions Group, Inc. |  |  |
| 6.750%, due 2/15/26 | 132000 | 184470 |
| Oil States International, Inc. |  |  |
| 4.750%, due 4/1/26 | 171000 | 195470 |
|  |  | 379940 |
| **Packaging & Containers — 0.4%** |  |  |
| Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC |  |  |
| 3.250%, due 9/1/28 | 12000 | 10530 |
| 6.000%, due 6/15/27 | 6000 | 5983 |
| Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. |  |  |
| 5.250%, due 4/30/25 | 6000 | 5867 |
| Ball Corp. |  |  |
| 6.875%, due 3/15/28 | 26000 | 26815 |
| Crown Americas LLC |  |  |
| 5.250%, due 4/1/30 | 12000 | 11550 |
| Graphic Packaging International LLC |  |  |
| 3.750%, due 2/1/30 | 6000 | 5196 |
| OI European Group BV |  |  |
| 4.750%, due 2/15/30 | 6000 | 5387 |
| Owens-Brockway Glass Container, Inc. |  |  |
| 6.625%, due 5/13/27 | 6000 | 5882 |
| Sealed Air Corp. |  |  |
| 5.125%, due 12/1/24 | 12000 | 11910 |
| 6.125%, due 2/1/28 | 5000 | 5045 |
| TriMas Corp. |  |  |
| 4.125%, due 4/15/29 | 12000 | 10683 |
|  |  | 104848 |
| **Pharmaceuticals — 0.2%** |  |  |
| Elanco Animal Health, Inc. |  |  |
| 6.400%, due 8/28/28 | 11000 | 10738 |
| PRA Health Sciences, Inc. |  |  |
| 2.875%, due 7/15/26 | 6000 | 5491 |
| Prestige Brands, Inc. |  |  |
| 3.750%, due 4/1/31 | 6000 | 5095 |
| 5.125%, due 1/15/28 | 18000 | 17194 |
|  |  | 38518 |
| **Pipelines — 2.9%** |  |  |
| Cheniere Energy Partners LP |  |  |
| 4.500%, due 10/1/29 | 22000 | 20639 |
| Cheniere Energy, Inc. |  |  |
| 4.625%, due 10/15/28 | 6000 | 5713 |
| CNX Midstream Partners LP |  |  |
| 4.750%, due 4/15/30 | 18000 | 15230 |
| Delek Logistics Partners LP / Delek Logistics Finance Corp. |  |  |
| 7.125%, due 6/1/28 | 16000 | 14676 |
| DT Midstream, Inc. |  |  |
| 4.300%, due 4/15/32 | 55000 | 50525 |
| Energy Transfer LP |  |  |
| 4.400%, due 3/15/27 | 50000 | 48792 |
| &nbsp;&nbsp;Series H, 6.500%, (US 5 Year CMT T-Note + 5.69%), due 11/15/71<sup>(a)</sup> | 70000 | 65652 |
| EnLink Midstream LLC |  |  |
| 5.375%, due 6/1/29 | 34000 | 32769 |
| Enterprise Products Operating LLC |  |  |
| 3.950%, due 1/31/60 | 25000 | 19774 |
| 4.200%, due 1/31/50 | 60000 | 51183 |
| EQM Midstream Partners LP |  |  |
| 4.750%, due 1/15/31 | 28000 | 23683 |
| 5.500%, due 7/15/28 | 6000 | 5535 |
| 6.000%, due 7/1/25 | 6000 | 5907 |
| 6.500%, due 7/1/27 | 12000 | 11784 |
| 7.500%, due 6/1/30 | 6000 | 5992 |
| Flex Intermediate Holdco LLC |  |  |
| 3.363%, due 6/30/31 | 60000 | 48925 |
| Hess Midstream Operations LP |  |  |
| 4.250%, due 2/15/30 | 6000 | 5255 |
| 5.625%, due 2/15/26 | 6000 | 5941 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Pipelines (continued)** |  |  |
| Holly Energy Partners LP / Holly Energy Finance Corp. |  |  |
| 6.375%, due 4/15/27 | $6000 | $5932 |
| MPLX LP |  |  |
| 2.650%, due 8/15/30 | 75000 | 63953 |
| &nbsp;&nbsp;Series B, 6.875%, (3-Month LIBOR + 4.65%), due 8/15/71<sup>(a)</sup> | 65000 | 65019 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;Series B, 8.716%, (3-Month LIBOR + 4.11%), due 11/15/71<sup>(a)</sup> | 70000 | 63350 |
| Venture Global Calcasieu Pass LLC |  |  |
| 3.875%, due 8/15/29 | 12000 | 10680 |
| 3.875%, due 11/1/33 | 6000 | 5097 |
| 4.125%, due 8/15/31 | 16000 | 14185 |
| 6.250%, due 1/15/30 | 15000 | 15282 |
| Western Midstream Operating LP |  |  |
| 4.300%, due 2/1/30 | 22000 | 20147 |
| 5.500%, due 2/1/50 | 12000 | 10410 |
|  |  | 712030 |
| **REITS — 1.8%** |  |  |
| American Homes 4 Rent LP |  |  |
| 2.375%, due 7/15/31 | 80000 | 65294 |
| Digital Realty Trust LP |  |  |
| 4.450%, due 7/15/28 | 65000 | 62990 |
| GLP Capital LP / GLP Financing II, Inc. |  |  |
| 4.000%, due 1/15/30 | 55000 | 49683 |
| 5.250%, due 6/1/25 | 65000 | 64518 |
| Host Hotels & Resorts LP |  |  |
| Series I, 3.500%, due 9/15/30 | 60000 | 51321 |
| Iron Mountain, Inc. |  |  |
| 5.250%, due 3/15/28 | 16000 | 15214 |
| 5.250%, due 7/15/30 | 12000 | 10859 |
| 5.625%, due 7/15/32 | 6000 | 5400 |
| Office Properties Income Trust |  |  |
| 2.400%, due 2/1/27 | 65000 | 49968 |
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer |  |  |
| 4.875%, due 5/15/29 | 22000 | 19019 |
| SBA Communications Corp. |  |  |
| 3.875%, due 2/15/27 | 34000 | 31400 |
| Service Properties Trust |  |  |
| 4.950%, due 2/15/27 | 6000 | 4909 |
| 4.950%, due 10/1/29 | 6000 | 4500 |
| 7.500%, due 9/15/25 | 16000 | 15733 |
| XHR LP |  |  |
| 4.875%, due 6/1/29 | 6000 | 5325 |
|  |  | 456133 |
| **Retail — 1.5%** |  |  |
| Arko Corp. |  |  |
| 5.125%, due 11/15/29 | 16000 | 12683 |
| Asbury Automotive Group, Inc. |  |  |
| 4.500%, due 3/1/28 | 12000 | 10849 |
| AutoNation, Inc. |  |  |
| 4.750%, due 6/1/30 | 65000 | 60983 |
| Bath & Body Works, Inc. |  |  |
| 6.625%, due 10/1/30 | 10000 | 9772 |
| 7.500%, due 6/15/29 | 6000 | 6087 |
| 9.375%, due 7/1/25 | 6000 | 6422 |
| Burlington Stores, Inc. |  |  |
| 2.250%, due 4/15/25 | 95000 | 117681 |
| Foundation Building Materials, Inc. |  |  |
| 6.000%, due 3/1/29 | 6000 | 4826 |
| Group 1 Automotive, Inc. |  |  |
| 4.000%, due 8/15/28 | 6000 | 5277 |
| IRB Holding Corp. |  |  |
| 7.000%, due 6/15/25 | 22000 | 22079 |
| LBM Acquisition LLC |  |  |
| 6.250%, due 1/15/29 | 10000 | 7600 |
| LCM Investments Holdings II LLC |  |  |
| 4.875%, due 5/1/29 | 6000 | 4952 |
| Macy's Retail Holdings LLC |  |  |
| 5.875%, due 4/1/29 | 16000 | 14880 |
| 5.875%, due 3/15/30 | 6000 | 5477 |
| Michaels Cos., Inc. (The) |  |  |
| 5.250%, due 5/1/28 | 2000 | 1668 |
| 7.875%, due 5/1/29 | 6000 | 4560 |
| Nordstrom, Inc. |  |  |
| 4.375%, due 4/1/30 | 6000 | 4814 |
| Sonic Automotive, Inc. |  |  |
| 4.625%, due 11/15/29 | 6000 | 4987 |
| 4.875%, due 11/15/31 | 5000 | 3992 |
| Victoria's Secret & Co. |  |  |
| 4.625%, due 7/15/29 | 16000 | 13292 |
| White Cap Buyer LLC |  |  |
| 6.875%, due 10/15/28 | 6000 | 5461 |
| White Cap Parent LLC |  |  |
| 8.250%, due 3/15/26 | 6000 | 5475 |
| Yum! Brands, Inc. |  |  |
| 3.625%, due 3/15/31 | 12000 | 10229 |
| 4.750%, due 1/15/30 | 12000 | 11223 |
| 5.375%, due 4/1/32 | 12000 | 11385 |
|  |  | 366654 |
| **Semiconductors — 0.6%** |  |  |
| Entegris, Inc. |  |  |
| 4.375%, due 4/15/28 | 16000 | 14480 |
| Microchip Technology, Inc. |  |  |
| 0.125%, due 11/15/24 | 121000 | 134234 |
|  |  | 148714 |
| **Software — 0.5%** |  |  |
| Boxer Parent Co., Inc. |  |  |
| 7.125%, due 10/2/25 | 6000 | 5940 |
| Central Parent, Inc. / CDK Global, Inc. |  |  |
| 7.250%, due 6/15/29 | 12000 | 11969 |
| Clarivate Science Holdings Corp. |  |  |
| 3.875%, due 7/1/28 | 6000 | 5354 |
| Fair Isaac Corp. |  |  |
| 4.000%, due 6/15/28 | 16000 | 14856 |
| Fiserv, Inc. |  |  |
| 3.200%, due 7/1/26 | 65000 | 61779 |
| MSCI, Inc. |  |  |
| 4.000%, due 11/15/29 | 16000 | 14560 |
| SS&C Technologies, Inc. |  |  |
| 5.500%, due 9/30/27 | 6000 | 5770 |
| ZoomInfo Technologies LLC/ZoomInfo Finance Corp. |  |  |
| 3.875%, due 2/1/29 | 6000 | 5175 |
|  |  | 125403 |
| **Telecommunications — 0.7%** |  |  |
| AT&T, Inc. |  |  |
| 3.500%, due 9/15/53 | 95000 | 70105 |
| 3.650%, due 9/15/59 | 10000 | 7331 |
| CommScope, Inc. |  |  |
| 6.000%, due 3/1/26 | 12000 | 11488 |
| 8.250%, due 3/1/27 | 6000 | 5103 |
| Level 3 Financing, Inc. |  |  |
| 3.625%, due 1/15/29 | 6000 | 4464 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Telecommunications (continued)** |  |  |
| 3.750%, due 7/15/29 | $12000 | $8773 |
| Sprint LLC |  |  |
| 7.625%, due 3/1/26 | 18000 | 19038 |
| 7.875%, due 9/15/23 | 12000 | 12179 |
| T-Mobile USA, Inc. |  |  |
| 2.625%, due 4/15/26 | 12000 | 11142 |
| Viavi Solutions, Inc. |  |  |
| 3.750%, due 10/1/29 | 16000 | 13960 |
|  |  | 163583 |
| **Toys/Games/Hobbies — 0.1%** |  |  |
| Mattel, Inc. |  |  |
| 3.375%, due 4/1/26 | 12000 | 11190 |
| 5.875%, due 12/15/27 | 18000 | 17955 |
|  |  | 29145 |
| **Trucking & Leasing — 0.1%** |  |  |
| Fortress Transportation and Infrastructure Investors LLC |  |  |
| 5.500%, due 5/1/28 | 16000 | 14081 |
| **Total Corporate Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $9,180,372)** |  | **9234461** |
| **Foreign Bonds — 13.2%** |  |  |
| **Aerospace/Defense — 0.1%** |  |  |
| Bombardier, Inc., (Canada) |  |  |
| 7.125%, due 6/15/26 | 10000 | 9976 |
| 7.500%, due 2/1/29 | 20000 | 19981 |
|  |  | 29957 |
| **Agriculture — 0.2%** |  |  |
| BAT International Finance PLC, (United Kingdom) |  |  |
| 4.448%, due 3/16/28 | 55000 | 52640 |
| **Airlines — 0.5%** |  |  |
| Air Canada, (Canada) |  |  |
| 3.875%, due 8/15/26 | 6000 | 5550 |
| Air Canada 2020-1 Class C Pass-Through Trust, (Canada) |  |  |
| Series 2020-1C, 10.500%, due 7/15/26 | 24000 | 25440 |
| British Airways 2021-1 Class A Pass-Through Trust, (United Kingdom) |  |  |
| Series 2021-1, 2.900%, due 3/15/35 | 98402 | 80938 |
|  |  | 111928 |
| **Auto Manufacturers — 0.3%** |  |  |
| Volkswagen Group of America Finance LLC, (Germany) |  |  |
| 4.600%, due 6/8/29 | 65000 | 63678 |
| **Banks — 4.3%** |  |  |
| Barclays PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;4.375%, (US 5 Year CMT T-Note + 3.41%), due 12/15/71<sup>(a)</sup> | 130000 | 105668 |
| BNP Paribas SA, (France) |  |  |
| &nbsp;&nbsp;3.052%, (SOFR + 1.51%), due 1/13/31<sup>(a)</sup> | 55000 | 47734 |
| &nbsp;&nbsp;4.625%, (US 5 Year CMT T-Note + 3.34%), due 8/25/71<sup>(a)</sup> | 135000 | 110431 |
| BPCE SA, (France) |  |  |
| &nbsp;&nbsp;2.045%, (SOFR + 1.09%), due 10/19/27<sup>(a)</sup> | 115000 | 101756 |
| Credit Agricole SA, (France) |  |  |
| &nbsp;&nbsp;4.750%, (US 5 Year CMT T-Note + 3.24%), due 3/23/71<sup>(a)</sup> | 130000 | 110552 |
| Credit Suisse Group AG, (Switzerland) |  |  |
| &nbsp;&nbsp;3.091%, (SOFR + 1.73%), due 5/14/32<sup>(a)</sup> | 65000 | 49140 |
| Deutsche Bank AG/New York NY, (Germany) |  |  |
| &nbsp;&nbsp;3.035%, (SOFR + 1.72%), due 5/28/32<sup>(a)</sup> | 80000 | 65385 |
| &nbsp;&nbsp;3.729%, (SOFR + 2.76%), due 1/14/32<sup>(a)</sup> | 16000 | 12858 |
| &nbsp;&nbsp;3.742%, (SOFR + 2.26%), due 1/7/33<sup>(a)</sup> | 22000 | 17380 |
| NatWest Group PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;4.600%, (US 5 Year CMT T-Note + 3.10%), due 9/30/71<sup>(a)</sup> | 120000 | 91950 |
| Societe Generale SA, (France) |  |  |
| &nbsp;&nbsp;5.375%, (US 5 Year CMT T-Note + 4.51%), due 5/18/71<sup>(a)</sup> | 130000 | 111791 |
| Standard Chartered PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;4.750%, (US 5 Year CMT T-Note + 3.81%), due 7/14/71<sup>(a)</sup> | 65000 | 55715 |
| UBS Group AG, (Switzerland) |  |  |
| &nbsp;&nbsp;4.875%, (US 5 Year CMT T-Note + 3.40%), due 8/12/71<sup>(a)</sup> | 105000 | 94384 |
| Westpac Banking Corp., (Australia) |  |  |
| &nbsp;&nbsp;3.020%, (US 5 Year CMT T-Note + 1.53%), due 11/18/36<sup>(a)</sup> | 110000 | 85930 |
|  |  | 1060674 |
| **Beverages — 0.1%** |  |  |
| Primo Water Holdings, Inc., (Canada) |  |  |
| 4.375%, due 4/30/29 | 22000 | 19189 |
| **Chemicals — 0.1%** |  |  |
| SPCM SA, (France) |  |  |
| 3.375%, due 3/15/30 | 28000 | 23702 |
| **Commercial Services — 0.1%** |  |  |
| Garda World Security Corp., (Canada) |  |  |
| 4.625%, due 2/15/27 | 12000 | 10921 |
| 9.500%, due 11/1/27 | 22000 | 21727 |
|  |  | 32648 |
| **Diversified Financial Services — 0.6%** |  |  |
| Avolon Holdings Funding Ltd., (Ireland) |  |  |
| 3.250%, due 2/15/27 | 85000 | 76716 |
| Nomura Holdings, Inc., (Japan) |  |  |
| 2.172%, due 7/14/28 | 90000 | 76669 |
|  |  | 153385 |
| **Electric — 0.6%** |  |  |
| EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, (Colombia) |  |  |
| 5.375%, due 12/30/30 | 200000 | 142796 |
| **Environmental Control — 0.2%** |  |  |
| GFL Environmental, Inc., (Canada) |  |  |
| 3.750%, due 8/1/25 | 6000 | 5702 |
| 4.000%, due 8/1/28 | 16000 | 14204 |
| 4.250%, due 6/1/25 | 6000 | 5786 |
| 4.750%, due 6/15/29 | 6000 | 5415 |
| 5.125%, due 12/15/26 | 6000 | 5836 |
|  |  | 36943 |
| **Food — 1.5%** |  |  |
| Cencosud SA, (Chile) |  |  |
| 4.375%, due 7/17/27 | 200000 | 192980 |
| Indofood CBP Sukses Makmur Tbk PT, (Indonesia) |  |  |
| 3.398%, due 6/9/31 | 200000 | 172250 |
|  |  | 365230 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Foreign Bonds (continued)** |  |  |
| **Forest Products & Paper — 0.0%<sup>(f)</sup>** |  |  |
| Ahlstrom-Munksjo Holding 3 Oy, (Finland) |  |  |
| 4.875%, due 2/4/28 | $12000 | $10264 |
| **Household Products/Wares — 0.1%** |  |  |
| Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., (Canada) |  |  |
| 5.000%, due 12/31/26 | 18000 | 16340 |
| 7.000%, due 12/31/27 | 22000 | 19173 |
|  |  | 35513 |
| **Internet — 0.7%** |  |  |
| Prosus NV, (China) |  |  |
| 3.257%, due 1/19/27 | 200000 | 181571 |
| **Investment Companies — 0.8%** |  |  |
| Gaci First Investment Co., (Saudi Arabia) |  |  |
| 5.000%, due 10/13/27 | 200000 | 203608 |
| **Machinery-Diversified — 0.1%** |  |  |
| Titan Acquisition Ltd. / Titan Co.-Borrower LLC, (Canada) |  |  |
| 7.750%, due 4/15/26 | 18000 | 17026 |
| TK Elevator US Newco, Inc., (Germany) |  |  |
| 5.250%, due 7/15/27 | 16000 | 14809 |
|  |  | 31835 |
| **Media — 0.3%** |  |  |
| UPC Holding BV, (Netherlands) |  |  |
| 5.500%, due 1/15/28 | 16000 | 14600 |
| Virgin Media Finance PLC, (United Kingdom) |  |  |
| 5.000%, due 7/15/30 | 44000 | 36933 |
| VZ Secured Financing BV, (Netherlands) |  |  |
| 5.000%, due 1/15/32 | 12000 | 10276 |
| Ziggo Bond Co. BV, (Netherlands) |  |  |
| 5.125%, due 2/28/30 | 28000 | 23142 |
|  |  | 84951 |
| **Oil & Gas — 1.0%** |  |  |
| Petroleos Mexicanos, (Mexico) |  |  |
| 5.350%, due 2/12/28 | 100000 | 87182 |
| Qatar Energy, (Qatar) |  |  |
| 3.125%, due 7/12/41 | 200000 | 158278 |
|  |  | 245460 |
| **Packaging & Containers — 0.1%** |  |  |
| Cascades, Inc./Cascades USA, Inc., (Canada) |  |  |
| 5.375%, due 1/15/28 | 12000 | 11208 |
| **Pharmaceuticals — 0.1%** |  |  |
| Teva Pharmaceutical Finance Netherlands III BV, (Israel) |  |  |
| 3.150%, due 10/1/26 | 6000 | 5383 |
| 5.125%, due 5/9/29 | 12000 | 11066 |
|  |  | 16449 |
| **Retail — 0.1%** |  |  |
| 1011778 BC ULC / New Red Finance, Inc., (Canada) |  |  |
| 3.500%, due 2/15/29 | 16000 | 13999 |
| 3.875%, due 1/15/28 | 6000 | 5484 |
|  |  | 19483 |
| **Software — 0.0%<sup>(f)</sup>** |  |  |
| Open Text Corp., (Canada) |  |  |
| 3.875%, due 2/15/28 | 6000 | 5214 |
| **Telecommunications — 1.3%** |  |  |
| Altice France SA/France, (France) |  |  |
| 5.125%, due 7/15/29 | 6000 | 4710 |
| 5.500%, due 1/15/28 | 22000 | 18271 |
| 8.125%, due 2/1/27 | 8000 | 7500 |
| Axiata SPV2 Bhd, (Malaysia) |  |  |
| 2.163%, due 8/19/30 | 200000 | 167818 |
| Iliad Holding SASU, (France) |  |  |
| 6.500%, due 10/15/26 | 12000 | 11363 |
| Nice Ltd., (Israel) |  |  |
| &nbsp;&nbsp;0.000%, due 9/15/25<sup>(c)</sup> | 125000 | 119563 |
|  |  | 329225 |
| **Total Foreign Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $3,273,450)** |  | **3267551** |
| **Municipal Bonds — 9.6%** |  |  |
| **California — 1.0%** |  |  |
| California State University, |  |  |
| &nbsp;&nbsp;1.690%, due 11/1/29 | 290000 | 244365 |
| **Colorado — 1.0%** |  |  |
| Metro Wastewater Reclamation District, |  |  |
| &nbsp;&nbsp;5.775%, due 4/1/29 | 225000 | 238095 |
| **Florida — 0.9%** |  |  |
| County of Miami-Dade FL Transit System, |  |  |
| &nbsp;&nbsp;2.600%, due 7/1/42 | 300000 | 228908 |
| **Illinois — 1.1%** |  |  |
| State of Illinois, |  |  |
| &nbsp;&nbsp;5.100%, due 6/1/33 | 275000 | 273073 |
| **New Jersey — 1.0%** |  |  |
| New Jersey Turnpike Authority, |  |  |
| &nbsp;&nbsp;7.102%, due 1/1/41 | 200000 | 254220 |
| **New York — 1.0%** |  |  |
| City of New York NY, |  |  |
| &nbsp;&nbsp;2.360%, due 8/1/31 | 275000 | 231095 |
| **North Carolina — 0.9%** |  |  |
| Charlotte-Mecklenburg Hospital Authority (The), |  |  |
| &nbsp;&nbsp;3.204%, due 1/15/51 | 300000 | 222453 |
| **Oregon — 0.7%** |  |  |
| Port of Morrow OR, |  |  |
| &nbsp;&nbsp;2.543%, due 9/1/40 | 250000 | 187938 |
| **Texas — 1.0%** |  |  |
| Dallas Fort Worth International Airport, |  |  |
| &nbsp;&nbsp;3.089%, due 11/1/40 | 300000 | 240905 |
| **Washington — 1.0%** |  |  |
| State of Washington, |  |  |
| &nbsp;&nbsp;5.090%, due 8/1/33 | 235000 | 245629 |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $2,459,361)** |  | **2366681** |
| **U.S. Treasury Bonds — 6.4%** |  |  |
| &nbsp;&nbsp;U.S. Treasury Bond, 4.000%, due 11/15/42 | 665000 | 687236 |
| &nbsp;&nbsp;U.S. Treasury Bond, 4.000%, due 11/15/52 | 820000 | 876887 |
|  |  | 1564123 |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Treasury Bonds (continued)** |  |  |
| **Total U.S. Treasury Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $1,483,348)** |  | $**1564123** |
| **U.S. Treasury Notes — 4.4%** |  |  |
| &nbsp;&nbsp;U.S. Treasury Note, 3.500%, due 1/31/28 | 380000 | 378308 |
| &nbsp;&nbsp;U.S. Treasury Note, 3.875%, due 1/15/26 | 100000 | 99992 |
| &nbsp;&nbsp;U.S. Treasury Note, 4.125%, due 11/15/32 | 585000 | 615438 |
|  |  | 1093738 |
| **Total U.S. Treasury Notes** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $1,077,726)** |  | **1093738** |
| **United States Government Agency Mortgage-Backed Securities — 3.1%** |  |  |
| **Mortgage Securities — 3.1%** |  |  |
| Fannie Mae Pool |  |  |
| Series 2022-MA4626, 4.000%, due 6/1/52 | 168402 | 162681 |
| Series 2022-MA4656, 4.500%, due 7/1/52 | 153775 | 151882 |
| Series 2022-MA4709, 5.000%, due 7/1/52 | 151624 | 152230 |
| Series 2022-MA4806, 5.000%, due 11/1/52 | 285329 | 286414 |
| Fannie Mae REMICS |  |  |
| Series 2020-47, 1.500%, due 7/25/50 | 10021 | 7913 |
| Freddie Mac REMICS |  |  |
| Series 2020-4988, 1.500%, due 6/25/50 | 11144 | 8798 |
|  |  | 769918 |
| **Total United States Government Agency Mortgage-Backed Securities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $768,501)** |  | **769918** |
|  | **Shares** | **Value** |
| **Short-Term Investment — 2.9%** |  |  |
| **Money Market Fund — 2.9%** |  |  |
| Dreyfus Government Cash Management Fund, Institutional Shares, 4.23%<sup>(g)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $719,833)** | 719833 | **719833** |
| **Total Investments — 100.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $24,730,206)** |  | **24732687** |
| **Other Assets and Liabilities, Net — (0.1)%<sup>(f)</sup>** |  | **(16444**) |
| **Net Assets — 100.0%** |  | $**24716243** |

---

(a) Variable rate securities that may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of January 31, 2023.

(b) Interest only security. An interest only security is the interest only portion of a fixed income security, which is separated and sold individually from the principal portion of the security.

(c) The security was issued on a discount basis with no stated coupon rate. Rate shown reflects the effective yield.

(d) A principal only security is the principal only portion of a fixed income security, which is separated and sold individually from the interest portion of the security.

(e) Adjustable rate security with an interest rate that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.

(f) Less than 0.05%.

(g) Reflects the 7-day yield at January 31, 2023.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| CMT | - Constant Maturity Treasury Index |
| FREMF | - Freddie MAC Multifamily Securities |
| LIBOR | - London InterBank Offered Rate |
| SOFR | - Secured Financing Overnight Rate |

---

Schedule of Investments — IQ MacKay Multi-Sector Income ETF (continued)

January 31, 2023 (unaudited)

**Open futures contracts outstanding at January 31, 2023:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Broker** | **Expiration Date** | **Number of<br> Contracts<br> Purchased <br> (Sold)** | **Notional <br> Value at <br> Trade Date** | **Notional Value at<br> January 31, 2023** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| U.S. 10 Ultra (CBT) | Citigroup Global Markets Inc. | March 2023 | 20 | $2378968 | $2424063 | $45095 |
| U.S. 10 Year Note (CBT) | RBC Capital Markets | March 2023 | 11 | 1240877 | 1259672 | 18795 |
| U.S. 5 Year Note (CBT) | RBC Capital Markets | March 2023 | 1 | 108010 | 109242 | 1232 |
| U.S. Long Bond (CBT) | Citigroup Global Markets Inc. | March 2023 | 1 | 126080 | 129875 | 3795 |
| U.S. Ultra Bond (CBT) | Citigroup Global Markets Inc. | March 2023 | 1 | 141940 | 141750 | (190) |
|  |  |  |  |  |  | $68727 |

---

CBT — Chicago Board of Trade

Cash posted as collateral to broker for futures contracts was $88,450 at January 31, 2023.

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2023. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(h)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations | $– | $1776220 | $– | $1776220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial Asset-Backed Securities |  | 1983003 |  | 1983003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities |  | 1957159 |  | 1957159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds |  | 9234461 |  | 9234461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Bonds |  | 3267551 |  | 3267551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds |  | 2366681 |  | 2366681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds |  | 1564123 |  | 1564123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  | 1093738 |  | 1093738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States Government Agency Mortgage-Backed Securities |  | 769918 |  | 769918 |
| Short-Term Investment: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Fund | 719833 | – | – | 719833 |
| Total Investments in Securities | 719833 | 24012854 | – | 24732687 |
| Other Financial Instruments:<sup>(i)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | 68917 | – | – | 68917 |
| Total Investments in Securities and Other Financial Instruments | $788750 | $24012854 | $– | $24801604 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments:<sup>(i)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | $(190) | $– | $– | $(190) |

---

(h) For a complete listing of investments and their states, see the Schedule of Investments.

(i) Reflects the unrealized appreciation (depreciation) of the instruments.

For the period ended January 31, 2023 the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** IndexIQ Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** IQ MacKay Multi-Sector Income ETF

- **b. EDGAR series identifier (if any):** S000076613

- **c. LEI of Series:** 54930029TUI4QRXZD158

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

- **a. Date of fiscal year-end:** 2023-04-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $25146014.74

**Total Liabilities:** $430308.52

**Net Assets:** $24715706.22

**Delayed Delivery Securities:** $5000.00

**Cash Not Reported:** $88479.68

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3.11522000 | **1-Year:** 749.86061000 | **5-Year:** 4174.36589000 | **10-Year:** 3731.06744000 | **30-Year:** 536.37337000

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

- **3-Month:** 1.33187000 | **1-Year:** 448.87002000 | **5-Year:** 1533.42262000 | **10-Year:** 323.44713000 | **30-Year:** 1.00382000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236602 | 3.84%                | -0.07%               | 4.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-263318.46              | $943189.45                                 |
| Month 2  | $8557.18                 | $-82816.66                                 |
| Month 3  | $30628.73                | $874689.40                                 |

**Designated Index Information**

- **Index Name:** Bloomberg US Universal

- **Index Identifier:** LEH__LHMN0037

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN HOMES 4 RENT                       | American Homes 4 Rent LP                                                         | CUSIP: 02666TAC1<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |     80000 | PA      | $65294.12     | 0.26%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                     | CUSIP: 251526CK3<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     80000 | PA      | $65384.94     | 0.26%             | 2032-05-28      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                    | EQM Midstream Partners LP                                                        | CUSIP: 26885BAC4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5535.00      | 0.02%             | 2028-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38383VFN3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $23408.30     | 0.09%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                    | Pattern Energy Operations LP / Pattern Energy Operations Inc                     | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11010.00     | 0.04%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                     | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |     12000 | PA      | $10275.96     | 0.04%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                     | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     27000 | PA      | $23486.81     | 0.10%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                        | Dycom Industries Inc                                                             | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16114.50     | 0.07%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                         | PFS Financing Corp                                                               | CUSIP: 69335PEF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $95073.39     | 0.38%             | 2027-02-15      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                         | CUSIP: 55903VAG8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     27000 | PA      | $25304.86     | 0.10%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSP               | Charlotte-Mecklenburg Hospital Authority/The                                     | CUSIP: 160853VC8<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    300000 | PA      | $222452.85    | 0.90%             | 2051-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                      | Match Group Holdings II LLC                                                      | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20234.94     | 0.08%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                    | Western Midstream Operating LP                                                   | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20146.72     | 0.08%             | 2030-02-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5794.39      | 0.02%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10680.00     | 0.04%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                       | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6007.80      | 0.02%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      5000 | PA      | $4299.65      | 0.02%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                            | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $4827.60      | 0.02%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQ / KIK CUSTOM                     | Kronos Acquisition Holdings Inc / KIK Custom Products Inc                        | CUSIP: 50106GAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $16339.50     | 0.07%             | 2026-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                    | Western Midstream Operating LP                                                   | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10410.00     | 0.04%             | 2050-02-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY                                | QatarEnergy                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | QA        |    200000 | PA      | $158278.00    | 0.64%             | 2041-07-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                            | T-Mobile USA Inc                                                                 | CUSIP: 87264ABU8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11142.45     | 0.05%             | 2026-04-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                                | CUSIP: 3136B4XC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     70201 | PA      | $7820.02      | 0.03%             | 2049-06-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                   | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    110000 | PA      | $85268.12     | 0.34%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                     | EnerSys                                                                          | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5542.50      | 0.02%             | 2027-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                     | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11940.00     | 0.05%             | 2026-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                  | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    168402 | PA      | $162680.56    | 0.66%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                             | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11897.64     | 0.05%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                 | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    820000 | PA      | $876887.50    | 3.55%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                           | General Motors Co                                                                | CUSIP: 37045VAV2<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61530.27     | 0.25%             | 2025-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14492.88     | 0.06%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| OIL STATES INTL INC                         | Oil States International Inc                                                     | CUSIP: 678026AK1<br>LEI: 5493004TF4KQJGMYL777 | Long             | DBT              | CORP              | US        |    171000 | PA      | $195470.10    | 0.79%             | 2026-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                    | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11968.72     | 0.05%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PRIMO WATER HOLDINGS INC                    | Primo Water Holdings Inc                                                         | CUSIP: 74168LAA4<br>LEI: 9845008F9A5F2E1D4832 | Long             | DBT              | CORP              | US        |     22000 | PA      | $19189.28     | 0.08%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                               | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     10000 | PA      | $8300.00      | 0.03%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                    | CrownRock LP / CrownRock Finance Inc                                             | CUSIP: 228701AG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5495.70      | 0.02%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                              | CUSIP: 46647PBR6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89664.34     | 0.36%             | 2028-06-01      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| TRIMAS CORP                                 | TriMas Corp                                                                      | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10683.00     | 0.04%             | 2029-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                    | Weekley Homes LLC / Weekley Finance Corp                                         | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $10443.00     | 0.04%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                               | Aircastle Ltd                                                                    | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    125000 | PA      | $102500.00    | 0.41%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP Texas Inc                                                                    | CUSIP: 00108WAP5<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59761.23     | 0.24%             | 2032-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                               | CommScope Inc                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5103.30      | 0.02%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                             | Sealed Air Corp                                                                  | CUSIP: 812127AA6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5044.50      | 0.02%             | 2028-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                           | Iliad Holding SASU                                                               | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |     12000 | PA      | $11363.46     | 0.05%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP                        | Covanta Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10485.00     | 0.04%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                       | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5415.24      | 0.02%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                            | FirstEnergy Corp                                                                 | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11467.80     | 0.05%             | 2027-07-15      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                     | CUSIP: 251526CF4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     16000 | PA      | $12858.12     | 0.05%             | 2032-01-14      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382QAU4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    110937 | PA      | $11481.80     | 0.05%             | 2051-02-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                         | Southern California Edison Co                                                    | CUSIP: 842400GG2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     60000 | PA      | $50355.35     | 0.20%             | 2047-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                   | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     90000 | PA      | $74327.13     | 0.30%             | 2032-10-20      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                            | Altria Group Inc                                                                 | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49457.83     | 0.20%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                      | Southwestern Energy Co                                                           | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8815.20      | 0.04%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROCKCLIFF ENERGY II LLC                     | Rockcliff Energy II LLC                                                          | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5707.44      | 0.02%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQ / KIK CUSTOM                     | Kronos Acquisition Holdings Inc / KIK Custom Products Inc                        | CUSIP: 50106GAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $19173.00     | 0.08%             | 2027-12-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                  | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11385.36     | 0.05%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FLEX INTERMEDIATE HOLDCO                    | Flex Intermediate Holdco LLC                                                     | CUSIP: 33939HAA7<br>LEI: 549300290TQIGM30A243 | Long             | DBT              | CORP              | US        |     60000 | PA      | $48924.83     | 0.20%             | 2031-06-30      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                               | DISH DBS Corp                                                                    | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $4308.81      | 0.02%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                   | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11525.67     | 0.05%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     90000 | PA      | $80053.12     | 0.32%             | N/A             | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                             | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     85000 | PA      | $74077.28     | 0.30%             | 2029-06-14      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                     | BPCE SA                                                                          | CUSIP: 05583JAK8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    115000 | PA      | $101756.13    | 0.41%             | 2027-10-19      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                                | Teleflex Inc                                                                     | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11456.55     | 0.05%             | 2027-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                               | Sempra Energy                                                                    | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    125000 | PA      | $109417.74    | 0.44%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | Ultra 10-Year US Treasury Note                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        20 | NC      | $45095.22     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| WASH MULTIFAM ACQ INC                       | WASH Multifamily Acquisition Inc                                                 | CUSIP: 93710WAA3<br>LEI: 549300AS7PRY5PHG6L12 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16608.93     | 0.07%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2021-2                                              | CUSIP: 262104AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     76000 | PA      | $71106.33     | 0.29%             | 2029-03-15      | Fixed         | 1.39%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                        | FirstKey Homes 2020-SFR2 Trust                                                   | CUSIP: 33767JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118583 | PA      | $107783.56    | 0.44%             | 2037-10-19      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                    | Compass Minerals International Inc                                               | CUSIP: 20451NAE1<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5814.44      | 0.02%             | 2024-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                | Calpine Corp                                                                     | CUSIP: 131347CK0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5803.07      | 0.02%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2022-PSB                                                                | CUSIP: 05606DAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98856 | PA      | $99350.44     | 0.40%             | 2039-08-15      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                            | Altice France SA/France                                                          | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |      6000 | PA      | $4709.52      | 0.02%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5273.03      | 0.02%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T Inc                                                                         | CUSIP: 00206RLV2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7331.10      | 0.03%             | 2059-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                            | CUSIP: 501797AU8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6421.98      | 0.03%             | 2025-07-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| INNOPHOS HOLDINGS INC                       | Innophos Holdings Inc                                                            | CUSIP: 45774NAB4<br>LEI: XQ0331QX53IRX25OY417 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11832.72     | 0.05%             | 2028-02-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                            | CUSIP: 04685A2V2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17405.86     | 0.07%             | 2028-03-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                                | NMI Holdings Inc                                                                 | CUSIP: 629209AA5<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6067.80      | 0.02%             | 2025-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                 | Apache Corp                                                                      | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5239.50      | 0.02%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65651.60     | 0.27%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | J.P. Morgan Mortgage Trust 2022-INV3                                             | CUSIP: 46593FAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     92200 | PA      | $79958.00     | 0.32%             | 2052-09-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBL4<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      5000 | PA      | $5068.75      | 0.02%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                   | Ball Corp                                                                        | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     26000 | PA      | $26815.10     | 0.11%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                    | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $10883.58     | 0.04%             | 2027-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                 | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    560000 | PA      | $578725.00    | 2.34%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                   | Arko Corp                                                                        | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $12683.20     | 0.05%             | 2029-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                     | MPLX LP                                                                          | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     75000 | PA      | $63952.99     | 0.26%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                      | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     12000 | PA      | $10530.36     | 0.04%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                    | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4951.50      | 0.02%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                     | MPLX LP                                                                          | CUSIP: 55336VAU4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65019.50     | 0.26%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE              | Multifamily Connecticut Avenue Securities Trust 2020-01                          | CUSIP: 62548QAD3<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |     35000 | PA      | $33031.04     | 0.13%             | 2050-03-25      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GR                    | Cogent Communications Group Inc                                                  | CUSIP: 19240CAC7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5555.13      | 0.02%             | 2026-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC              | Enterprise Fleet Financing 2022-2 LLC                                            | CUSIP: 29374JAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99937.26     | 0.40%             | 2029-05-21      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                  | Mattel Inc                                                                       | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17955.00     | 0.07%             | 2027-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                    | Citizens Financial Group Inc                                                     | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     95000 | PA      | $82310.24     | 0.33%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DANA INC                                    | Dana Inc                                                                         | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     16000 | PA      | $13496.16     | 0.05%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                     | Digital Realty Trust LP                                                          | CUSIP: 25389JAT3<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62990.01     | 0.25%             | 2028-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                     | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5970.00      | 0.02%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                  | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5549.98      | 0.02%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                      | Penn Entertainment Inc                                                           | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $4948.43      | 0.02%             | 2029-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                    | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $15844.50     | 0.06%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                            | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6086.94      | 0.02%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                    | Service Properties Trust                                                         | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4500.00      | 0.02%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                              | Hertz Corp/The                                                                   | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5340.00      | 0.02%             | 2026-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                         | Prestige Brands Inc                                                              | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5094.60      | 0.02%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                             | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     90000 | PA      | $76556.28     | 0.31%             | 2031-02-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GACI FIRST INVESTMENT                       | Gaci First Investment Co                                                         | CUSIP: 000000000<br>LEI: 558600TU1PWGNLZ3XM88 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $203608.00    | 0.82%             | 2027-10-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                    | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14809.12     | 0.06%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                     | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    130000 | PA      | $105667.69    | 0.43%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                       | American Airlines Inc                                                            | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     16000 | PA      | $17808.88     | 0.07%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL TRANSIT SAL              | County of Miami-Dade FL Transit System                                           | CUSIP: 59334PJT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $228907.98    | 0.93%             | 2042-07-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11312.65     | 0.05%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                  | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10229.14     | 0.04%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GXD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90846.77     | 0.37%             | 2026-05-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                                | CUSIP: 3136BHWC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     88527 | PA      | $11129.81     | 0.05%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382UG62<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     80362 | PA      | $72380.10     | 0.29%             | 2051-06-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                         | CUSIP: 30711XUW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $124197.08    | 0.50%             | 2030-05-25      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                          | Crown Americas LLC                                                               | CUSIP: 228180AB1<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11550.00     | 0.05%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                       | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5099.88      | 0.02%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2021-SFR4                                                   | CUSIP: 74333EAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $89501.98     | 0.36%             | 2038-05-17      | Fixed         | 1.56%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                         | LBM Acquisition LLC                                                              | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7600.00      | 0.03%             | 2029-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                    | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4813.98      | 0.02%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                        | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4090.00      | 0.02%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| METRO WSTWTR RECLAMATION DIST               | Metro Wastewater Reclamation District                                            | CUSIP: 59164GCX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $238095.27    | 0.96%             | 2029-04-01      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                     | Office Properties Income Trust                                                   | CUSIP: 67623CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $49968.31     | 0.20%             | 2027-02-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                               | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    115000 | PA      | $88262.50     | 0.36%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                    | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd        | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97200 | PA      | $98202.13     | 0.40%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 21-1 A PPT                      | British Airways 2021-1 Class A Pass Through Trust                                | CUSIP: 11042CAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98402 | PA      | $80937.84     | 0.33%             | 2035-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                    | NCR Corp                                                                         | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8710.54      | 0.04%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382WR25<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    304237 | PA      | $4733.92      | 0.02%             | 2051-08-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                    | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5254.85      | 0.02%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                               | CUSIP: 3137F6PH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     70311 | PA      | $11491.26     | 0.05%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC                    | Elanco Animal Health Inc                                                         | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10738.20     | 0.04%             | 2028-08-28      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                               | CUSIP: 292480AK6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48791.90     | 0.20%             | 2027-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38383VFT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     20000 | PA      | $18978.89     | 0.08%             | 2050-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                                                              | CUSIP: 65535HAY5<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |     90000 | PA      | $76669.18     | 0.31%             | 2028-07-14      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Manhattan West                              | Manhattan West 2020-1MW Mortgage Trust                                           | CUSIP: 563136AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $87767.66     | 0.36%             | 2039-09-10      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                            | Lamar Media Corp                                                                 | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14240.00     | 0.06%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                       | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |     16000 | PA      | $14204.00     | 0.06%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                     | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $64517.70     | 0.26%             | 2025-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-DNA2                                                | CUSIP: 35564LBD8<br>LEI: 549300Y6KOVOWQ8OJC33 | Long             | ABS-MBS          | CORP              | US        |     95000 | PA      | $99254.10     | 0.40%             | 2049-03-25      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                         | Allegiant Travel Co                                                              | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4888.06      | 0.02%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                      | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     85000 | PA      | $76715.27     | 0.31%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                    | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     22000 | PA      | $21567.15     | 0.09%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                    | EQM Midstream Partners LP                                                        | CUSIP: 26885BAH3<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11784.12     | 0.05%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY COR                    | Garda World Security Corp                                                        | CUSIP: 36257BAA7<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     22000 | PA      | $21726.95     | 0.09%             | 2027-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                         | CUSIP: 30711XY32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     85000 | PA      | $87973.06     | 0.36%             | 2031-01-25      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2021-3                                       | CUSIP: 30166AAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35000 | PA      | $32039.64     | 0.13%             | 2027-06-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                        | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5655.00      | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2020-DNA6                                          | CUSIP: 35566CAH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     85615 | PA      | $85401.00     | 0.35%             | 2050-12-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                        | Edison International                                                             | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    125000 | PA      | $111136.25    | 0.45%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                    | Compass Minerals International Inc                                               | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12683.36     | 0.05%             | 2027-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                    | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     16000 | PA      | $15936.19     | 0.06%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                           | Service Corp International/US                                                    | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15126.12     | 0.06%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                               | State of Washington                                                              | CUSIP: 93974CRF9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    235000 | PA      | $245628.30    | 0.99%             | 2033-08-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                 | Hertz Vehicle Financing III LP                                                   | CUSIP: 42806MAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140000 | PA      | $121406.46    | 0.49%             | 2027-12-27      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | CBOT 10 Year US Treasury Note                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        11 | NC      | $18795.34     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                         | CUSIP: 30711XJW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     35000 | PA      | $37301.97     | 0.15%             | 2029-10-25      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| HOLLY NRG PRTNR/FIN CORP                    | Holly Energy Partners LP / Holly Energy Finance Corp                             | CUSIP: 435765AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5932.50      | 0.02%             | 2027-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                            | Ziggo Bond Co BV                                                                 | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |     28000 | PA      | $23142.00     | 0.09%             | 2030-02-28      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                 | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    585000 | PA      | $615438.28    | 2.49%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                  | Fiserv Inc                                                                       | CUSIP: 337738AT5<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61778.53     | 0.25%             | 2026-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | CME Ultra Long Term US Treasury Bond                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-189.87      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ALLIED UNIVERSAL                            | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11460.00     | 0.05%             | 2027-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                        | WMG Acquisition Corp                                                             | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8752.42      | 0.04%             | 2029-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                    | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $10124.28     | 0.04%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CENCOSUD SA                                 | Cencosud SA                                                                      | CUSIP: 000000000<br>LEI: 549300NLTGCFV7482429 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $192980.00    | 0.78%             | 2027-07-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCIENCES INC                     | PRA Health Sciences Inc                                                          | CUSIP: 45569KAA1<br>LEI: 549300R1HR1VWWHIAK47 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5491.02      | 0.02%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                                              | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    130000 | PA      | $111790.83    | 0.45%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TITAN ACQ/CO-BORROWER                       | Titan Acquisition Ltd / Titan Co-Borrower LLC                                    | CUSIP: 88827AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     18000 | PA      | $17026.20     | 0.07%             | 2026-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2017-K71 Mortgage Trust                                                    | CUSIP: 35708WAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $93757.57     | 0.38%             | 2050-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                    | Permian Resources Operating LLC                                                  | CUSIP: 15138AAC4<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21557.58     | 0.09%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI              | Dallas Fort Worth International Airport                                          | CUSIP: 2350366Z8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $240905.28    | 0.97%             | 2040-11-01      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382GXQ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     20751 | PA      | $16224.04     | 0.07%             | 2050-07-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                      | H&E Equipment Services Inc                                                       | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |     22000 | PA      | $19361.32     | 0.08%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                            | Boyd Gaming Corp                                                                 | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11408.01     | 0.05%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                | Calpine Corp                                                                     | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11073.12     | 0.04%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JERSEY CENTRAL PWR & LT                     | Jersey Central Power & Light Co                                                  | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |     90000 | PA      | $76165.97     | 0.31%             | 2032-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                 | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39210.00     | 0.16%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                    | Enterprise Products Operating LLC                                                | CUSIP: 29379VBW2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     60000 | PA      | $51183.35     | 0.21%             | 2050-01-31      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                         | United Airlines Inc                                                              | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5696.01      | 0.02%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                     | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    105000 | PA      | $94384.50     | 0.38%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | CBOT US Long Bond                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $3794.56      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES INC                       | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5770.47      | 0.02%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES                             | Thor Industries Inc                                                              | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |      7000 | PA      | $5820.64      | 0.02%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                      | Energizer Holdings Inc                                                           | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10421.04     | 0.04%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                        | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $10921.32     | 0.04%             | 2027-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     44000 | PA      | $38750.80     | 0.16%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HELIX ENERGY SOLUTIONS                      | Helix Energy Solutions Group Inc                                                 | CUSIP: 42330PAK3<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | DBT              | CORP              | US        |    132000 | PA      | $184470.00    | 0.75%             | 2026-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2019-INV2 Trust                                                              | CUSIP: 67112VAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29161 | PA      | $27818.89     | 0.11%             | 2049-05-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                      | Arizona Public Service Co                                                        | CUSIP: 040555DD3<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     90000 | PA      | $71502.10     | 0.29%             | 2031-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                  | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11223.00     | 0.05%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                                          | CUSIP: 928668BT8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63678.24     | 0.26%             | 2029-06-08      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                               | Cable One Inc                                                                    | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     16000 | PA      | $13192.44     | 0.05%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                    | EQM Midstream Partners LP                                                        | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5907.06      | 0.02%             | 2025-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                           | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5788.68      | 0.02%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | CBOT 5 Year US Treasury Note                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $1232.21      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                     | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                  | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5175.00      | 0.02%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                         | PFS Financing Corp                                                               | CUSIP: 69335PEP6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98926.47     | 0.40%             | 2027-08-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                           | NatWest Group PLC                                                                | CUSIP: 639057AD0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    120000 | PA      | $91950.00     | 0.37%             | N/A             | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                                | CUSIP: 3136BAE91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42846 | PA      | $34623.33     | 0.14%             | 2050-07-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                 | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99855.31     | 0.40%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC/FI                    | Tempo Acquisition LLC / Tempo Acquisition Finance Corp                           | CUSIP: 88023JAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6057.00      | 0.02%             | 2025-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                    | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |      6000 | PA      | $5960.40      | 0.02%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                     | CUSIP: 25160PAG2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     22000 | PA      | $17380.10     | 0.07%             | 2033-01-07      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                         | Callon Petroleum Co                                                              | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5778.91      | 0.02%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                    | Occidental Petroleum Corp                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12739.77     | 0.05%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                  | Sprint LLC                                                                       | CUSIP: 85207UAF2<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12178.48     | 0.05%             | 2023-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1667.82      | 0.01%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                  | CUSIP: 31418EE63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    153775 | PA      | $151881.97    | 0.61%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA                     | EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | ES        |    200000 | PA      | $142795.49    | 0.58%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382DM30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     67785 | PA      | $7343.37      | 0.03%             | 2050-03-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                          | Credit Agricole SA                                                               | CUSIP: 225313AP0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    130000 | PA      | $110552.00    | 0.45%             | N/A             | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                                  | AMSR 2020-SFR2 Trust                                                             | CUSIP: 00178UAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $92174.66     | 0.37%             | 2037-07-17      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     18000 | PA      | $19912.50     | 0.08%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| EVERI HOLDINGS INC                          | Everi Holdings Inc                                                               | CUSIP: 30034TAA1<br>LEI: 5299006DK5S7BG10K532 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5429.10      | 0.02%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                     | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |      6000 | PA      | $5385.00      | 0.02%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA2                                          | CUSIP: 35564KGR4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90000 | PA      | $78075.00     | 0.32%             | 2033-12-25      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                              | AutoNation Inc                                                                   | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $60983.18     | 0.25%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                   | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $181571.43    | 0.73%             | 2027-01-19      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                        | Carpenter Technology Corp                                                        | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6158.40      | 0.02%             | 2030-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA3                                          | CUSIP: 35564KJP5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90000 | PA      | $80668.23     | 0.33%             | 2041-09-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2020-VIV2                                           | CUSIP: 05605NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $83818.50     | 0.34%             | 2044-03-09      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-4                                    | CUSIP: 80285VAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $92911.40     | 0.38%             | 2027-10-15      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8069.20      | 0.03%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                       | Southwest Airlines Co                                                            | CUSIP: 844741BG2<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |     94000 | PA      | $112706.00    | 0.46%             | 2025-05-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                              | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19980.60     | 0.08%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                    | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAQ3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |      6000 | PA      | $5866.50      | 0.02%             | 2025-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2018-GW                                                                 | CUSIP: 12433UAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $98336.89     | 0.40%             | 2035-05-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                      | Marriott International Inc/MD                                                    | CUSIP: 571903BF9<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     85000 | PA      | $75102.19     | 0.30%             | 2032-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                               | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5171.25      | 0.02%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                               | CUSIP: 3137FUNH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11144 | PA      | $8798.50      | 0.04%             | 2050-06-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                   | PG&E Corp                                                                        | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11244.60     | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITE CAP PARENT LLC                        | White Cap Parent LLC                                                             | CUSIP: 96351CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5475.00      | 0.02%             | 2026-03-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                | Calpine Corp                                                                     | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5432.46      | 0.02%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                          | Ford Motor Co                                                                    | CUSIP: 345370BR0<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12380.40     | 0.05%             | 2046-11-01      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                          | Seagate HDD Cayman                                                               | CUSIP: 81180WBD2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |      3000 | PA      | $2519.85      | 0.01%             | 2031-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                        | EnLink Midstream LLC                                                             | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |     34000 | PA      | $32769.37     | 0.13%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU              | New Jersey Turnpike Authority                                                    | CUSIP: 646139X83<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    200000 | PA      | $254220.16    | 1.03%             | 2041-01-01      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2020-VIVA                                           | CUSIP: 12433XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $79991.60     | 0.32%             | 2044-03-11      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL                     | Southern Co Gas Capital Corp                                                     | CUSIP: 8426EPAE8<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |     70000 | PA      | $49034.20     | 0.20%             | 2051-09-30      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $40194.34     | 0.16%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                   | Apple Inc                                                                        | CUSIP: 037833CD0<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36007.19     | 0.15%             | 2046-08-04      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-21M                                            | CUSIP: 05609CAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     74501 | PA      | $72815.33     | 0.29%             | 2036-10-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAA5<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11160.00     | 0.05%             | 2025-10-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                      | WESCO Distribution Inc                                                           | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6148.06      | 0.02%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INDOFOOD CBP SUKSES MAKM                    | Indofood CBP Sukses Makmur Tbk PT                                                | CUSIP: 000000000<br>LEI: 254900YKZW9GRKZZN285 | Long             | DBT              | CORP              | ID        |    200000 | PA      | $172249.79    | 0.70%             | 2031-06-09      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                         | Dominion Energy Inc                                                              | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107400.00    | 0.43%             | N/A             | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10398.00     | 0.04%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                  | CUSIP: 31418EKU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    285329 | PA      | $286414.30    | 1.16%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                                | CUSIP: 3136ATEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     81768 | PA      | $9309.63      | 0.04%             | 2046-06-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                       | NESCO Holdings II Inc                                                            | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14369.76     | 0.06%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                         | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5994.72      | 0.02%             | 2024-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-VOLT                                           | CUSIP: 05609VAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $96120.01     | 0.39%             | 2036-09-15      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                            | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     12000 | PA      | $8772.48      | 0.04%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                         | Viavi Solutions Inc                                                              | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |     16000 | PA      | $13960.00     | 0.06%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                      | Aviation Capital Group LLC                                                       | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88951.50     | 0.36%             | 2026-01-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     16000 | PA      | $9460.84      | 0.04%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                           | Expedia Group Inc                                                                | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $52744.30     | 0.21%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                      | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14675.85     | 0.06%             | 2028-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                                | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15214.40     | 0.06%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-1C PTT                      | Air Canada 2020-1 Class C Pass Through Trust                                     | CUSIP: 008911BD0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     24000 | PA      | $25440.00     | 0.10%             | 2026-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                    | Moss Creek Resources Holdings Inc                                                | CUSIP: 61965RAA3<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12004.20     | 0.05%             | 2026-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING                    | NextEra Energy Operating Partners LP                                             | CUSIP: 65342QAK8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5859.98      | 0.02%             | 2024-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                      | Southwestern Energy Co                                                           | CUSIP: 845467AP4<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6302.04      | 0.03%             | 2028-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                    | Prudential Financial Inc                                                         | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     95000 | PA      | $88625.50     | 0.36%             | 2052-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                 | Hertz Vehicle Financing LLC                                                      | CUSIP: 42806MAA7<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $93031.52     | 0.38%             | 2025-12-26      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                    | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20638.64     | 0.08%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                         | Station Casinos LLC                                                              | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5057.50      | 0.02%             | 2031-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER                     | Southwestern Electric Power Co                                                   | CUSIP: 845437BT8<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |     65000 | PA      | $46025.47     | 0.19%             | 2051-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                            | SLG Office Trust 2021-OVA                                                        | CUSIP: 78449RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $83608.74     | 0.34%             | 2041-07-15      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                          | CNX Resources Corp                                                               | CUSIP: 12653CAC2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1990.00      | 0.01%             | 2027-03-14      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                | Hilton Grand Vacations Trust 2019-A                                              | CUSIP: 43284HAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42370 | PA      | $39781.94     | 0.16%             | 2033-07-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                    | iHeartCommunications Inc                                                         | CUSIP: 45174HBG1<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5130.32      | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                            | Vital Energy Inc                                                                 | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11066.40     | 0.04%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                    | Virgin Media Finance PLC                                                         | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |     44000 | PA      | $36933.16     | 0.15%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NICE LTD                                    | Nice Ltd                                                                         | CUSIP: 653656AB4<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | DBT              | CORP              | IL        |    125000 | PA      | $119562.50    | 0.48%             | 2025-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                        | CUSIP: 31423XQF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    211334 | PA      | $30961.65     | 0.13%             | 2051-09-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                         | Callon Petroleum Co                                                              | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5805.00      | 0.02%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                    | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11437.47     | 0.05%             | 2026-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                         | CUSIP: 30711XYW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102583.48    | 0.42%             | 2030-07-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $46650.80     | 0.19%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss              | New Economy Assets Phase 1 Sponsor LLC                                           | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $87086.80     | 0.35%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                | Calpine Corp                                                                     | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10003.89     | 0.04%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                           | Clean Harbors Inc                                                                | CUSIP: 184496AP2<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11522.40     | 0.05%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                        | Howmet Aerospace Inc                                                             | CUSIP: 443201AB4<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     34000 | PA      | $29665.00     | 0.12%             | 2029-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BXHPP Trust                                 | BXHPP Trust 2021-FILM                                                            | CUSIP: 05609JAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    130000 | PA      | $121376.31    | 0.49%             | 2036-08-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC 2020-WEST Trust                                                             | CUSIP: 12655QAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $81204.16     | 0.33%             | 2035-02-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                              | Stericycle Inc                                                                   | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10647.12     | 0.04%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                          | Seagate HDD Cayman                                                               | CUSIP: 81180WBG5<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |      2400 | PA      | $2717.62      | 0.01%             | 2032-12-01      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4464.00      | 0.02%             | 2029-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                       | GFL Environmental Inc                                                            | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5701.50      | 0.02%             | 2025-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CDI ESCROW ISSUER INC                       | CDI Escrow Issuer Inc                                                            | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11370.00     | 0.05%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA2                                          | CUSIP: 35564KRF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     65000 | PA      | $63826.70     | 0.26%             | 2042-02-25      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                    | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed   | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5087.01      | 0.02%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                         | Cheniere Energy Inc                                                              | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5712.90      | 0.02%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                     | International Game Technology PLC                                                | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |      6000 | PA      | $5758.20      | 0.02%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                | US Foods Inc                                                                     | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5371.24      | 0.02%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                     | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $49682.76     | 0.20%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                         | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5472.66      | 0.02%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                               | CUSIP: 31325URK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     69703 | PA      | $7511.33      | 0.03%             | 2043-08-15      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5064.00      | 0.02%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                      | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |      6000 | PA      | $5983.20      | 0.02%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AFFINITY GAMING                             | Affinity Gaming                                                                  | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14324.00     | 0.06%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP                            | IRB Holding Corp                                                                 | CUSIP: 44988MAC9<br>LEI: 549300HVW4WNWYBXN830 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22078.76     | 0.09%             | 2025-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                      | Southwestern Energy Co                                                           | CUSIP: 845467AL3<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11898.60     | 0.05%             | 2025-01-23      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                      | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $19019.01     | 0.08%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA3                                          | CUSIP: 35564KUX5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    128000 | PA      | $128418.29    | 0.52%             | 2042-04-25      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     75000 | PA      | $62666.74     | 0.25%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                      | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $13800.00     | 0.06%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                     | Dell International LLC / EMC Corp                                                | CUSIP: 24703DBE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $50402.20     | 0.20%             | 2041-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20487.50     | 0.08%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                     | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |     34000 | PA      | $31400.21     | 0.13%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                     | Great Lakes Dredge & Dock Corp                                                   | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5056.50      | 0.02%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                    | Univision Communications Inc                                                     | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5162.52      | 0.02%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                    | Host Hotels & Resorts LP                                                         | CUSIP: 44107TAZ9<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |     60000 | PA      | $51321.17     | 0.21%             | 2030-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                              | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5882.42      | 0.02%             | 2027-05-13      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BIOMARIN PHARMACEUTICAL                     | BioMarin Pharmaceutical Inc                                                      | CUSIP: 09061GAK7<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | DBT              | CORP              | US        |    123000 | PA      | $138375.00    | 0.56%             | 2027-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                | Hudson Yards 2019-30HY Mortgage Trust                                            | CUSIP: 44421GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $89796.49     | 0.36%             | 2039-07-10      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                     | United Rentals North America Inc                                                 | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     22000 | PA      | $19022.96     | 0.08%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                  | Navient Private Education Refi Loan Trust 2021-A                                 | CUSIP: 63942BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     77260 | PA      | $68278.49     | 0.28%             | 2069-05-15      | Fixed         | 0.84%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382PCP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     73702 | PA      | $7479.98      | 0.03%             | 2050-10-20      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                 | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17699.86     | 0.07%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38382WBD8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    103590 | PA      | $14266.64     | 0.06%             | 2051-07-20      | Floating      | 1.81%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                    | Occidental Petroleum Corp                                                        | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22961.18     | 0.09%             | 2031-01-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20993.89     | 0.08%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                           | Clarios Global LP                                                                | CUSIP: 18060TAA3<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $6036.42      | 0.02%             | 2025-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                     | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5476.62      | 0.02%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                      | Edgewell Personal Care Co                                                        | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11364.12     | 0.05%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                       | Carriage Services Inc                                                            | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $18100.50     | 0.07%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management          | Dreyfus Government Cash Management                                               | CUSIP: 000000000<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |    746446 | NS      | $746445.78    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                                | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11820.96     | 0.05%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                  | Mattel Inc                                                                       | CUSIP: 577081BE1<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11190.06     | 0.05%             | 2026-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PIEDMONT NATURAL GAS CO                     | Piedmont Natural Gas Co Inc                                                      | CUSIP: 720186AP0<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62868.58     | 0.25%             | 2052-05-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                       | DB Master Finance LLC                                                            | CUSIP: 233046AL5<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |     96750 | PA      | $92379.42     | 0.37%             | 2049-05-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                    | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAH1<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4963.44      | 0.02%             | 2029-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue              | Multifamily Connecticut Avenue Securities Trust 2019-01                          | CUSIP: 62547NAB5<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |     94304 | PA      | $89260.35     | 0.36%             | 2049-10-25      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| CARNIVAL HLDGS BM LTD                       | Carnival Holdings Bermuda Ltd                                                    | CUSIP: 14366RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10800.00     | 0.04%             | 2028-05-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| TRI POINTE GROUP / HOMES                    | TRI Pointe Group Inc / TRI Pointe Homes Inc                                      | CUSIP: 962178AN9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11959.44     | 0.05%             | 2024-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BURLINGTON STORES INC                       | Burlington Stores Inc                                                            | CUSIP: 122017AB2<br>LEI: 5299003Z37DVGKKC1W09 | Long             | DBT              | CORP              | US        |     95000 | PA      | $117681.25    | 0.48%             | 2025-04-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                       | Uber Technologies Inc                                                            | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12184.44     | 0.05%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                    | Hess Midstream Operations LP                                                     | CUSIP: 428102AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5940.72      | 0.02%             | 2026-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-RISE                                                               | CUSIP: 12434EAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $98280.55     | 0.40%             | 2036-11-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                              | CUSIP: 48128BAG6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     55000 | PA      | $51700.00     | 0.21%             | N/A             | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PORT OF MORROW OR TRANSMISSION              | Port of Morrow OR                                                                | CUSIP: 73474TAT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $187937.95    | 0.76%             | 2040-09-01      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2020-3                                                | CUSIP: 33844TAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    115000 | PA      | $107095.42    | 0.43%             | 2026-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                 | Hologic Inc                                                                      | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |     22000 | PA      | $19355.82     | 0.08%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                      | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11235.84     | 0.05%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                    | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14795.20     | 0.06%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                            | DT Midstream Inc                                                                 | CUSIP: 23345MAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $50524.59     | 0.20%             | 2032-04-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                      | Williams Scotsman International Inc                                              | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5559.33      | 0.02%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38383D6B9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    644436 | PA      | $12062.11     | 0.05%             | 2051-12-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8777.50      | 0.04%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                 | City of New York NY                                                              | CUSIP: 64966QFX3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    275000 | PA      | $231095.07    | 0.94%             | 2031-08-01      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                               | TopBuild Corp                                                                    | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10180.92     | 0.04%             | 2032-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch               | BAMLL Commercial Mortgage Securities Trust 2022-DKLX                             | CUSIP: 05530SAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $96388.51     | 0.39%             | 2039-01-15      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| LUMENTUM HOLDINGS INC                       | Lumentum Holdings Inc                                                            | CUSIP: 55024UAD1<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |    117000 | PA      | $106177.50    | 0.43%             | 2026-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                      | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5068.98      | 0.02%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                     | Dell International LLC / EMC Corp                                                | CUSIP: 24703TAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $65617.44     | 0.27%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                    | Service Properties Trust                                                         | CUSIP: 81761LAA0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15732.64     | 0.06%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                     | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14880.22     | 0.06%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                    | Delta Air Lines Inc / SkyMiles IP Ltd                                            | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     90000 | PA      | $87688.00     | 0.35%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                         | PFS Financing Corp                                                               | CUSIP: 69335PEQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98114.77     | 0.40%             | 2027-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                           | Imola Merger Corp                                                                | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5220.00      | 0.02%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                           | Service Corp International/US                                                    | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6239.26      | 0.03%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                      | Southwestern Energy Co                                                           | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20487.50     | 0.08%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                      | Brundage-Bone Concrete Pumping Holdings Inc                                      | CUSIP: 66981QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11437.08     | 0.05%             | 2026-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9650.00      | 0.04%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                        | Aramark Services Inc                                                             | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6001.50      | 0.02%             | 2025-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                         | CUSIP: 30711XJ62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $181932.26    | 0.74%             | 2030-10-25      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                      | WESCO Distribution Inc                                                           | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12192.00     | 0.05%             | 2025-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                 | CUSIP: 91282CGE5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $99992.19     | 0.40%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                               | LGI Homes Inc                                                                    | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     12000 | PA      | $9720.00      | 0.04%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                                | Teleflex Inc                                                                     | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11069.41     | 0.04%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                       | GFL Environmental Inc                                                            | CUSIP: 36168QAJ3<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5786.14      | 0.02%             | 2025-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                    | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $15972.31     | 0.06%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE                  | California State University                                                      | CUSIP: 13077DMQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $244364.67    | 0.99%             | 2029-11-01      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                    | Enterprise Products Operating LLC                                                | CUSIP: 29379VBZ5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19774.14     | 0.08%             | 2060-01-31      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                            | Vital Energy Inc                                                                 | CUSIP: 516806AF3<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6054.72      | 0.02%             | 2025-01-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15281.70     | 0.06%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                               | CUSIP: 3132HTPF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17646 | PA      | $13582.03     | 0.05%             | 2043-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                      | Standard Chartered PLC                                                           | CUSIP: 853254BX7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     65000 | PA      | $55714.75     | 0.23%             | N/A             | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                             | Sealed Air Corp                                                                  | CUSIP: 81211KAW0<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11910.00     | 0.05%             | 2024-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EXACT SCIENCES CORP                         | Exact Sciences Corp                                                              | CUSIP: 30063PAB1<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | DBT              | CORP              | US        |    162000 | PA      | $152685.00    | 0.62%             | 2027-03-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10552.12     | 0.04%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                        | OI European Group BV                                                             | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |      6000 | PA      | $5386.50      | 0.02%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                         | SVB Financial Group                                                              | CUSIP: 78486QAJ0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |     65000 | PA      | $52040.21     | 0.21%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                            | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14222.88     | 0.06%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT                     | United Airlines 2020-1 Class A Pass Through Trust                                | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82999 | PA      | $83985.11     | 0.34%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                    | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $8925.00      | 0.04%             | 2029-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                  | CUSIP: 31418EGT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    151624 | PA      | $152229.87    | 0.62%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                             | CUSIP: 06051GFL8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88241.42     | 0.36%             | 2026-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                              | Amazon.com Inc                                                                   | CUSIP: 023135CH7<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61842.06     | 0.25%             | 2032-04-13      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                | SM Energy Co                                                                     | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11760.00     | 0.05%             | 2025-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2021-SFR1                                                   | CUSIP: 74331FAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     99805 | PA      | $88454.05     | 0.36%             | 2038-04-17      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                           | Waste Pro USA Inc                                                                | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16740.00     | 0.07%             | 2026-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                            | Altice France SA/France                                                          | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |      8000 | PA      | $7499.52      | 0.03%             | 2027-02-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                         | CUSIP: 55903VAL7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62296.84     | 0.25%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                            | Arches Buyer Inc                                                                 | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |     16000 | PA      | $13476.16     | 0.05%             | 2028-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                           | Hyatt Hotels Corp                                                                | CUSIP: 448579AH5<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85796.07     | 0.35%             | 2025-04-23      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                    | EQM Midstream Partners LP                                                        | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     28000 | PA      | $23683.03     | 0.10%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                         | CUSIP: 38383RA23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     92530 | PA      | $12313.52     | 0.05%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                    | Graphic Packaging International LLC                                              | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5196.08      | 0.02%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                    | EQM Midstream Partners LP                                                        | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5992.50      | 0.02%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                      | Williams Scotsman International Inc                                              | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6029.52      | 0.02%             | 2025-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT / FINCO                      | Caesars Resort Collection LLC / CRC Finco Inc                                    | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6001.02      | 0.02%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4560.00      | 0.02%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                          | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90251 | PA      | $81557.30     | 0.33%             | 2060-07-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                             | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5218.30      | 0.02%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                    | Occidental Petroleum Corp                                                        | CUSIP: 674599EC5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6233.02      | 0.03%             | 2028-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                             | MVW 2021-1W LLC                                                                  | CUSIP: 55389TAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     62763 | PA      | $57308.53     | 0.23%             | 2041-01-22      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                    | MSCI Inc                                                                         | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14560.00     | 0.06%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust              | Hyundai Auto Receivables Trust 2021-A                                            | CUSIP: 44933LAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35000 | PA      | $31618.85     | 0.13%             | 2027-11-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL/GATES CORP                     | Gates Global LLC / Gates Corp                                                    | CUSIP: 36740LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $19696.75     | 0.08%             | 2026-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                    | Scientific Games International Inc                                               | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11879.92     | 0.05%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                        | Sonic Automotive Inc                                                             | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4986.57      | 0.02%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                   | Block Inc                                                                        | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5010.09      | 0.02%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                               | CommScope Inc                                                                    | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11488.20     | 0.05%             | 2026-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AXIATA SPV2 BHD                             | Axiata SPV2 Bhd                                                                  | CUSIP: 000000000<br>LEI: 254900P49KQFQ10AF282 | Long             | DBT              | CORP              | MY        |    200000 | PA      | $167818.27    | 0.68%             | 2030-08-19      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                     | Darling Ingredients Inc                                                          | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21455.50     | 0.09%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                 | State of Illinois                                                                | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    275000 | PA      | $273073.08    | 1.10%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                               | CUSIP: 3137F6TN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     71359 | PA      | $14379.80     | 0.06%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5096.70      | 0.02%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                          | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5657.04      | 0.02%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                               | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     55000 | PA      | $60574.06     | 0.25%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JETBLUE 2019-1 CLASS AA                     | JetBlue 2019-1 Class AA Pass Through Trust                                       | CUSIP: 477143AH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     99576 | PA      | $83533.36     | 0.34%             | 2032-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                  | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     80000 | PA      | $63912.15     | 0.26%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                            | Arches Buyer Inc                                                                 | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10080.00     | 0.04%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                    | Scientific Games Holdings LP/Scientific Games US FinCo Inc                       | CUSIP: 80874DAA4<br>LEI: 549300W5GPFXXB6TQ330 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5344.65      | 0.02%             | 2030-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OHIO POWER COMPANY                          | Ohio Power Co                                                                    | CUSIP: 677415CU3<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $35200.02     | 0.14%             | 2051-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                              | Bombardier Inc                                                                   | CUSIP: 097751BV2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $9976.10      | 0.04%             | 2026-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                          | CNX Resources Corp                                                               | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11015.72     | 0.04%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AHLSTROM-MUNKSJO HLDG 3                     | Ahlstrom-Munksjo Holding 3 Oy                                                    | CUSIP: 84612JAA0<br>LEI: 743700UEY0YM039XN974 | Long             | DBT              | CORP              | FI        |     12000 | PA      | $10264.09     | 0.04%             | 2028-02-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                       | Foundation Building Materials Inc                                                | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4826.16      | 0.02%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                      | Match Group Holdings II LLC                                                      | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15041.71     | 0.06%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                   | News Corp                                                                        | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5368.68      | 0.02%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                      | Group 1 Automotive Inc                                                           | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5276.76      | 0.02%             | 2028-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-DNA1                                                | CUSIP: 35563KBD1<br>LEI: 5493007222WHFWMBOC78 | Long             | ABS-MBS          | CORP              | US        |     70000 | PA      | $74285.99     | 0.30%             | 2049-01-25      | Floating      | 9.16%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                | SM Energy Co                                                                     | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11414.63     | 0.05%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-ACNT                                           | CUSIP: 05609QAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $97403.18     | 0.39%             | 2038-11-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                       | GFL Environmental Inc                                                            | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5836.50      | 0.02%             | 2026-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                      | Credit Suisse Group AG                                                           | CUSIP: 225401AU2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |     65000 | PA      | $49140.38     | 0.20%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                            | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9771.80      | 0.04%             | 2030-10-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                                | CUSIP: 3136BAP81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10021 | PA      | $7912.94      | 0.03%             | 2050-07-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                           | Herc Holdings Inc                                                                | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26810.00     | 0.11%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                    | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     90000 | PA      | $73678.03     | 0.30%             | 2032-11-03      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                 | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    380000 | PA      | $378307.81    | 1.53%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac Structured Agency Credit Risk Debt Notes                             | CUSIP: 3137G0UD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | CORP              | US        |     22798 | PA      | $22968.54     | 0.09%             | 2030-09-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |      6000 | PA      | $5383.08      | 0.02%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                            | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5824.26      | 0.02%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                    | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    125000 | PA      | $111250.00    | 0.45%             | N/A             | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                    | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5875.39      | 0.02%             | 2028-12-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                | Entegris Inc                                                                     | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14480.00     | 0.06%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                    | Microchip Technology Inc                                                         | CUSIP: 595017AU8<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    121000 | PA      | $134234.38    | 0.54%             | 2024-11-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                         | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5461.34      | 0.02%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZQ9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11913.01     | 0.05%             | 2024-03-18      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| SPCM SA                                     | SPCM SA                                                                          | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |     28000 | PA      | $23702.00     | 0.10%             | 2030-03-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                              | Transocean Inc                                                                   | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |      9000 | PA      | $9279.00      | 0.04%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                            | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $21180.50     | 0.09%             | 2026-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                      | Taco Bell Funding LLC                                                            | CUSIP: 87342RAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     59400 | PA      | $47949.64     | 0.19%             | 2051-08-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                            | HealthEquity Inc                                                                 | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10743.60     | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5483.88      | 0.02%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                              | Open Text Corp                                                                   | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5213.76      | 0.02%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                    | Camelot Return Merger Sub Inc                                                    | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7000 | PA      | $6581.75      | 0.03%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                    | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10707.00     | 0.04%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOSTON GAS COMPANY                          | Boston Gas Co                                                                    | CUSIP: 100743AK9<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |     70000 | PA      | $64572.04     | 0.26%             | 2027-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                               | Carnival Corp                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     16000 | PA      | $12640.00     | 0.05%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                          | CUSIP: 12530MAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     94565 | PA      | $83347.02     | 0.34%             | 2061-03-15      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                        | Sonic Automotive Inc                                                             | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |      5000 | PA      | $3992.45      | 0.02%             | 2031-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                         | CUSIP: 30711XR30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     75000 | PA      | $79166.87     | 0.32%             | 2030-12-25      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                       | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $10262.76     | 0.04%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                     | Standard Industries Inc/NJ                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10258.45     | 0.04%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                   | CUSIP: 05565ASK0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    135000 | PA      | $110431.17    | 0.45%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                  | Sprint LLC                                                                       | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |     18000 | PA      | $19038.00     | 0.08%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                    | Plains All American Pipeline LP                                                  | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |     70000 | PA      | $63350.00     | 0.26%             | N/A             | Floating      | 8.72%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                    | iHeartCommunications Inc                                                         | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5373.78      | 0.02%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14184.96     | 0.06%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10859.28     | 0.04%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                        | Westpac Banking Corp                                                             | CUSIP: 961214EX7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    110000 | PA      | $85929.80     | 0.35%             | 2036-11-18      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                           | Service Corp International/US                                                    | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11491.25     | 0.05%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TAP ROCK RESOURCES LLC                      | Tap Rock Resources LLC                                                           | CUSIP: 87602LAA0<br>LEI: 549300Y3SDS1HPFQ6H17 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5679.00      | 0.02%             | 2026-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                         | Prestige Brands Inc                                                              | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17194.50     | 0.07%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                    | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14080.62     | 0.06%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                            | Alabama Power Co                                                                 | CUSIP: 010392FW3<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |     85000 | PA      | $60637.11     | 0.25%             | 2052-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                                | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5399.61      | 0.02%             | 2032-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-OSB                  | CUSIP: 46651EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $89406.79     | 0.36%             | 2039-06-05      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                    | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14880.00     | 0.06%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GR                    | Cogent Communications Group Inc                                                  | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5938.80      | 0.02%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                        | BAT International Finance PLC                                                    | CUSIP: 05530QAP5<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |     55000 | PA      | $52640.29     | 0.21%             | 2028-03-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                             | TripAdvisor Inc                                                                  | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16064.00     | 0.06%             | 2025-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                    | Service Properties Trust                                                         | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4908.60      | 0.02%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                      | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26409.60     | 0.11%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                                | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5025.95      | 0.02%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UPC HOLDING BV                              | UPC Holding BV                                                                   | CUSIP: 90320LAG2<br>LEI: 213800G1DU7LKI6ZCD69 | Long             | DBT              | CORP              | NL        |     16000 | PA      | $14600.00     | 0.06%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CASCADES INC/USA INC                        | Cascades Inc/Cascades USA Inc                                                    | CUSIP: 14739LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     12000 | PA      | $11208.24     | 0.05%             | 2028-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY BUYER INC                       | CD&R Smokey Buyer Inc                                                            | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $10890.00     | 0.04%             | 2025-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                         | Petroleos Mexicanos                                                              | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $87181.87     | 0.35%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                         | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     22000 | PA      | $19339.32     | 0.08%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                      | Pacific Gas and Electric Co                                                      | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     75000 | PA      | $50616.20     | 0.20%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                     | Asbury Automotive Group Inc                                                      | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10849.16     | 0.04%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                        | National Fuel Gas Co                                                             | CUSIP: 636180BR1<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     75000 | PA      | $60743.76     | 0.25%             | 2031-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| TEXTRON FINANCIAL CORP                      | Textron Financial Corp                                                           | CUSIP: 883199AR2<br>LEI: 4E8B2CNXPE5P5AY03O18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $77375.00     | 0.31%             | 2042-02-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| One Bryant Park Trust                       | One Bryant Park Trust 2019-OBP                                                   | CUSIP: 68236JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $84736.14     | 0.34%             | 2054-09-15      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                    | Transocean Titan Financing Ltd                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |      5000 | PA      | $5188.60      | 0.02%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                         | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5353.81      | 0.02%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VICTORIA'S SECRET & CO                      | Victoria's Secret & Co                                                           | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |     16000 | PA      | $13291.84     | 0.05%             | 2029-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-RISE                                                               | CUSIP: 12434EAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $96468.25     | 0.39%             | 2036-11-15      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                                | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11430.84     | 0.05%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                              | Brink's Co/The                                                                   | CUSIP: 109696AB0<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5911.50      | 0.02%             | 2025-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                            | Vital Energy Inc                                                                 | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11940.84     | 0.05%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                            | Puget Energy Inc                                                                 | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |     65000 | PA      | $59372.26     | 0.24%             | 2032-03-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                            | Altice France SA/France                                                          | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     22000 | PA      | $18271.44     | 0.07%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA3                                          | CUSIP: 35564KKK4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90000 | PA      | $80908.94     | 0.33%             | 2041-09-25      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T Inc                                                                         | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     95000 | PA      | $70104.83     | 0.28%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |     12000 | PA      | $11066.22     | 0.04%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $93242.05     | 0.38%             | 2036-10-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                    | Virginia Electric and Power Co                                                   | CUSIP: 927804GF5<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     65000 | PA      | $46459.16     | 0.19%             | 2051-11-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                       | Caesars Entertainment Inc                                                        | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5976.89      | 0.02%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                | Centene Corp                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26601.68     | 0.11%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| XHR LP                                      | XHR LP                                                                           | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5325.00      | 0.02%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                     | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     75000 | PA      | $64783.75     | 0.26%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                   | News Corp                                                                        | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11298.00     | 0.05%             | 2032-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                       | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $15230.34     | 0.06%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                    | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAK4<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8262.50      | 0.03%             | 2030-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     16000 | PA      | $13999.05     | 0.06%             | 2029-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                       | Uber Technologies Inc                                                            | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6085.64      | 0.02%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $16759.71     | 0.07%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                   | CUSIP: 09659W2K9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     55000 | PA      | $47733.55     | 0.19%             | 2031-01-13      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                         | Boxer Parent Co Inc                                                              | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5940.16      | 0.02%             | 2025-10-02      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRITON WATER HOLDINGS IN                    | Triton Water Holdings Inc                                                        | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4762.55      | 0.02%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust              | Home Partners of America 2021-2 Trust                                            | CUSIP: 43732VAT3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118715 | PA      | $106138.02    | 0.43%             | 2026-12-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                             | Fair Isaac Corp                                                                  | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14856.08     | 0.06%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                         | Sirius XM Radio Inc                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     16000 | PA      | $13722.08     | 0.06%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     12000 | PA      | $11157.00     | 0.05%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2019-K99 Mortgage Trust                                                    | CUSIP: 30314FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $90998.16     | 0.37%             | 2052-10-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                    | NCR Corp                                                                         | CUSIP: 62886EAZ1<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5189.20      | 0.02%             | 2030-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                         | Spectrum Brands Inc                                                              | CUSIP: 84762LAV7<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5286.96      | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                        | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                           | CUSIP: 46590XAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     65000 | PA      | $63736.40     | 0.26%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC                        | Presidio Holdings Inc                                                            | CUSIP: 74101XAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5767.50      | 0.02%             | 2028-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

**Name of Applicant:** IndexIQ Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ