# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0002071691-26-001819
**Filing Date:** 2026-1
**Character Count:** 1334561
**Document Hash:** 5ea9d92099d92262c54e31223bc22896
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-001819.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0002071691-26-001819

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 26571342

**BUSINESS ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### JPMorgan BetaBuilders U.S. Aggregate Bond ETF (Series ID: S000063668)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000206282 | JPMorgan BetaBuilders U.S. Aggregate Bond ETF | BBAG            |

## Nport-Ex

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**Schedule of Portfolio Investments as of November 30, 2025**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS" <br> LIST ("the List") IS TO BE USED FOR REPORTING PURPOSES <br> ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS <br> ADVERTISING OR SALES LITERATURE WITH THE GENERAL <br> PUBLIC. The list is submitted for the general information of the <br> shareholders of the Fund. It is not authorized for distribution to <br> prospective investors in the Fund unless preceded or accompanied by a <br> prospectus. The list has been created from the books and records of <br> the Fund. Holdings are available 60 days after the fund's fiscal quarter, <br> using a trade date accounting convention, by contacting the appropriate <br> service center. The list is subject to change without notice. The list is <br> for informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2025. |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT($)**<br>| **VALUE($)** |
| **U.S. Treasury Obligations — 45.7%** | **U.S. Treasury Obligations — 45.7%** | **U.S. Treasury Obligations — 45.7%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1913000 | &nbsp;&nbsp;&nbsp;&nbsp; 2077100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3169000 | &nbsp;&nbsp;&nbsp;&nbsp; 3422768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 2705000 | &nbsp;&nbsp;&nbsp;&nbsp; 2930698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 1318000 | &nbsp;&nbsp;&nbsp;&nbsp; 1346831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 2031000 | &nbsp;&nbsp;&nbsp;&nbsp; 2096373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 5/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 3410000 | &nbsp;&nbsp;&nbsp;&nbsp; 3390286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 1259000 | &nbsp;&nbsp;&nbsp;&nbsp; 1280246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 1111000 | &nbsp;&nbsp;&nbsp;&nbsp; 1112389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 2382000 | &nbsp;&nbsp;&nbsp;&nbsp; 2443783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 846000 | &nbsp;&nbsp;&nbsp;&nbsp; 843885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 2/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 4403000 | &nbsp;&nbsp;&nbsp;&nbsp; 3304314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1436000 | &nbsp;&nbsp;&nbsp;&nbsp; 1204221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 756000 | &nbsp;&nbsp;&nbsp;&nbsp; 620274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 4864000 | &nbsp;&nbsp;&nbsp;&nbsp; 4192160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 436000 | &nbsp;&nbsp;&nbsp;&nbsp; 359700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 6043000 | &nbsp;&nbsp;&nbsp;&nbsp; 5548229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 5/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 326000 | &nbsp;&nbsp;&nbsp;&nbsp; 258151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 5028000 | &nbsp;&nbsp;&nbsp;&nbsp; 4606119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 744000 | &nbsp;&nbsp;&nbsp;&nbsp; 655534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 8/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 4598000 | &nbsp;&nbsp;&nbsp;&nbsp; 4484487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 817000 | &nbsp;&nbsp;&nbsp;&nbsp; 730832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 4502000 | &nbsp;&nbsp;&nbsp;&nbsp; 4594150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 4422000 | &nbsp;&nbsp;&nbsp;&nbsp; 4370871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 4341000 | &nbsp;&nbsp;&nbsp;&nbsp; 4353887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 4985000 | &nbsp;&nbsp;&nbsp;&nbsp; 4675774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 4354000 | &nbsp;&nbsp;&nbsp;&nbsp; 4358762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 4321000 | &nbsp;&nbsp;&nbsp;&nbsp; 4392567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 524000 | &nbsp;&nbsp;&nbsp;&nbsp; 549791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 8/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 4835000 | &nbsp;&nbsp;&nbsp;&nbsp; 4989871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 1787000 | &nbsp;&nbsp;&nbsp;&nbsp; 1352536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 5903000 | &nbsp;&nbsp;&nbsp;&nbsp; 3905203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 2/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 7035000 | &nbsp;&nbsp;&nbsp;&nbsp; 4067109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 5/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3983000 | &nbsp;&nbsp;&nbsp;&nbsp; 2593306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 8/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 5199000 | &nbsp;&nbsp;&nbsp;&nbsp; 3082845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 5374000 | &nbsp;&nbsp;&nbsp;&nbsp; 3371345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 5/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 4402000 | &nbsp;&nbsp;&nbsp;&nbsp; 3175630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 3797000 | &nbsp;&nbsp;&nbsp;&nbsp; 2807407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 2/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 7192000 | &nbsp;&nbsp;&nbsp;&nbsp; 6005320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 8394000 | &nbsp;&nbsp;&nbsp;&nbsp; 7001121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 6317000 | &nbsp;&nbsp;&nbsp;&nbsp; 5765250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1785000 | &nbsp;&nbsp;&nbsp;&nbsp; 1803129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 5704000 | &nbsp;&nbsp;&nbsp;&nbsp; 5317197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 1456000 | &nbsp;&nbsp;&nbsp;&nbsp; 1444852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 456695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 4289000 | &nbsp;&nbsp;&nbsp;&nbsp; 4169712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 124062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 5/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 1562000 | &nbsp;&nbsp;&nbsp;&nbsp; 1582257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 8/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 200661 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 11/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6343000 | &nbsp;&nbsp;&nbsp;&nbsp; 6194831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 12/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4166000 | &nbsp;&nbsp;&nbsp;&nbsp; 4061525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 12/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4330000 | &nbsp;&nbsp;&nbsp;&nbsp; 4243907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 24155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 1/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4082000 | &nbsp;&nbsp;&nbsp;&nbsp; 3984096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5168000 | &nbsp;&nbsp;&nbsp;&nbsp; 5198079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4606000 | &nbsp;&nbsp;&nbsp;&nbsp; 4533312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 6434000 | &nbsp;&nbsp;&nbsp;&nbsp; 6473961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 2/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4518000 | &nbsp;&nbsp;&nbsp;&nbsp; 4383166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp;&nbsp; 259633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1922000 | &nbsp;&nbsp;&nbsp;&nbsp; 1945499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 4/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4989000 | &nbsp;&nbsp;&nbsp;&nbsp; 4779891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1048000 | &nbsp;&nbsp;&nbsp;&nbsp; 1030561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4798000 | &nbsp;&nbsp;&nbsp;&nbsp; 4861723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 5/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4263000 | &nbsp;&nbsp;&nbsp;&nbsp; 4074662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 723000 | &nbsp;&nbsp;&nbsp;&nbsp; 726333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 6/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 393000 | &nbsp;&nbsp;&nbsp;&nbsp; 374808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 350514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 7/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4182000 | &nbsp;&nbsp;&nbsp;&nbsp; 4128745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 606000 | &nbsp;&nbsp;&nbsp;&nbsp; 609243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3011000 | &nbsp;&nbsp;&nbsp;&nbsp; 2947369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1552000 | &nbsp;&nbsp;&nbsp;&nbsp; 1557517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 8/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5101000 | &nbsp;&nbsp;&nbsp;&nbsp; 4841168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 8/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2496000 | &nbsp;&nbsp;&nbsp;&nbsp; 2478742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2096000 | &nbsp;&nbsp;&nbsp;&nbsp; 2099439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3701000 | &nbsp;&nbsp;&nbsp;&nbsp; 3691603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 9/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 7093000 | &nbsp;&nbsp;&nbsp;&nbsp; 6700946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5109000 | &nbsp;&nbsp;&nbsp;&nbsp; 5141730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 10/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2455000 | &nbsp;&nbsp;&nbsp;&nbsp; 2319112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5538000 | &nbsp;&nbsp;&nbsp;&nbsp; 5406689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5102000 | &nbsp;&nbsp;&nbsp;&nbsp; 5160793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1794000 | &nbsp;&nbsp;&nbsp;&nbsp; 1806684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 12/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4600000 | &nbsp;&nbsp;&nbsp;&nbsp; 4336578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1252000 | &nbsp;&nbsp;&nbsp;&nbsp; 1261390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6590000 | &nbsp;&nbsp;&nbsp;&nbsp; 6216223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 219000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1633000 | &nbsp;&nbsp;&nbsp;&nbsp; 1607357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1279983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 2/29/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6589000 | &nbsp;&nbsp;&nbsp;&nbsp; 6254917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/29/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4309000 | &nbsp;&nbsp;&nbsp;&nbsp; 4355793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 3/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3960000 | &nbsp;&nbsp;&nbsp;&nbsp; 3763547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 4/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2311000 | &nbsp;&nbsp;&nbsp;&nbsp; 2192020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 14554000 | &nbsp;&nbsp;&nbsp;&nbsp; 14557411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4155000 | &nbsp;&nbsp;&nbsp;&nbsp; 4094947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 5/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2519000 | &nbsp;&nbsp;&nbsp;&nbsp; 2384981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5954000 | &nbsp;&nbsp;&nbsp;&nbsp; 5973537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1254000 | &nbsp;&nbsp;&nbsp;&nbsp; 1269871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1211531 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 7/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 934000 | &nbsp;&nbsp;&nbsp;&nbsp; 875187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4468000 | &nbsp;&nbsp;&nbsp;&nbsp; 4539558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4074000 | &nbsp;&nbsp;&nbsp;&nbsp; 4009707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 8/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6076000 | &nbsp;&nbsp;&nbsp;&nbsp; 5701946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 8/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 431000 | &nbsp;&nbsp;&nbsp;&nbsp; 440832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 161519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 9/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp; 372240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2759000 | &nbsp;&nbsp;&nbsp;&nbsp; 2842848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1921000 | &nbsp;&nbsp;&nbsp;&nbsp; 1901040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6006000 | &nbsp;&nbsp;&nbsp;&nbsp; 6154273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6662000 | &nbsp;&nbsp;&nbsp;&nbsp; 6711445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5995000 | &nbsp;&nbsp;&nbsp;&nbsp; 6081646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1368000 | &nbsp;&nbsp;&nbsp;&nbsp; 1331342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/28/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2093000 | &nbsp;&nbsp;&nbsp;&nbsp; 2139765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 3/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 531000 | &nbsp;&nbsp;&nbsp;&nbsp; 512000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 3/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5413000 | &nbsp;&nbsp;&nbsp;&nbsp; 5515340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 4/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 512000 | &nbsp;&nbsp;&nbsp;&nbsp; 501360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5528000 | &nbsp;&nbsp;&nbsp;&nbsp; 5722776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 5/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4576000 | &nbsp;&nbsp;&nbsp;&nbsp; 4460170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5389000 | &nbsp;&nbsp;&nbsp;&nbsp; 5560774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 6/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3009000 | &nbsp;&nbsp;&nbsp;&nbsp; 2980085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2478000 | &nbsp;&nbsp;&nbsp;&nbsp; 2537627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 7/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4770000 | &nbsp;&nbsp;&nbsp;&nbsp; 4621683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5531000 | &nbsp;&nbsp;&nbsp;&nbsp; 5617854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5577000 | &nbsp;&nbsp;&nbsp;&nbsp; 5592685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5729000 | &nbsp;&nbsp;&nbsp;&nbsp; 5719601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4866000 | &nbsp;&nbsp;&nbsp;&nbsp; 4922263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2502000 | &nbsp;&nbsp;&nbsp;&nbsp; 2553799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4212000 | &nbsp;&nbsp;&nbsp;&nbsp; 4261359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 244023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3966000 | &nbsp;&nbsp;&nbsp;&nbsp; 4013096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4455000 | &nbsp;&nbsp;&nbsp;&nbsp; 4443862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/28/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4153000 | &nbsp;&nbsp;&nbsp;&nbsp; 4223082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3907000 | &nbsp;&nbsp;&nbsp;&nbsp; 3914631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 12538000 | &nbsp;&nbsp;&nbsp;&nbsp; 12496860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 809812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 5/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3599000 | &nbsp;&nbsp;&nbsp;&nbsp; 3623462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1259000 | &nbsp;&nbsp;&nbsp;&nbsp; 1267656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1877000 | &nbsp;&nbsp;&nbsp;&nbsp; 1909701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 627000 | &nbsp;&nbsp;&nbsp;&nbsp; 627784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3532000 | &nbsp;&nbsp;&nbsp;&nbsp; 3612022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2469000 | &nbsp;&nbsp;&nbsp;&nbsp; 2579719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1580000 | &nbsp;&nbsp;&nbsp;&nbsp; 1581728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3617000 | &nbsp;&nbsp;&nbsp;&nbsp; 3821869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3044000 | &nbsp;&nbsp;&nbsp;&nbsp; 3148875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5059000 | &nbsp;&nbsp;&nbsp;&nbsp; 5089038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2460000 | &nbsp;&nbsp;&nbsp;&nbsp; 2502666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2192000 | &nbsp;&nbsp;&nbsp;&nbsp; 2256219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 3/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2755000 | &nbsp;&nbsp;&nbsp;&nbsp; 2819355 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5828000 | &nbsp;&nbsp;&nbsp;&nbsp; 6106651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 859270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1197000 | &nbsp;&nbsp;&nbsp;&nbsp; 1224681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 8848000 | &nbsp;&nbsp;&nbsp;&nbsp; 7748221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6021000 | &nbsp;&nbsp;&nbsp;&nbsp; 6043108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 9/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 9392000 | &nbsp;&nbsp;&nbsp;&nbsp; 9362650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3777000 | &nbsp;&nbsp;&nbsp;&nbsp; 3862573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 7030000 | &nbsp;&nbsp;&nbsp;&nbsp; 6160587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3486000 | &nbsp;&nbsp;&nbsp;&nbsp; 3564980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2368000 | &nbsp;&nbsp;&nbsp;&nbsp; 2469195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 852000 | &nbsp;&nbsp;&nbsp;&nbsp; 882619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3173000 | &nbsp;&nbsp;&nbsp;&nbsp; 2849007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 3/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 390386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 74000 | &nbsp;&nbsp;&nbsp;&nbsp; 75104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5324000 | &nbsp;&nbsp;&nbsp;&nbsp; 5059464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 5/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1485000 | &nbsp;&nbsp;&nbsp;&nbsp; 1517252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1111000 | &nbsp;&nbsp;&nbsp;&nbsp; 1126971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 384000 | &nbsp;&nbsp;&nbsp;&nbsp; 389340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 8/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 11334000 | &nbsp;&nbsp;&nbsp;&nbsp; 10652189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 112000 | &nbsp;&nbsp;&nbsp;&nbsp; 112700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 821000 | &nbsp;&nbsp;&nbsp;&nbsp; 825875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 598781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6866000 | &nbsp;&nbsp;&nbsp;&nbsp; 6734044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 8096000 | &nbsp;&nbsp;&nbsp;&nbsp; 7860710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5858000 | &nbsp;&nbsp;&nbsp;&nbsp; 5870814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6938000 | &nbsp;&nbsp;&nbsp;&nbsp; 7242622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5338000 | &nbsp;&nbsp;&nbsp;&nbsp; 5382205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5675000 | &nbsp;&nbsp;&nbsp;&nbsp; 5870078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1334000 | &nbsp;&nbsp;&nbsp;&nbsp; 1364432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 5/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 104152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 11674000 | &nbsp;&nbsp;&nbsp;&nbsp; 11907480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $604,475,542)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 598335537 |
| **Mortgage-Backed Securities — 24.0%** | **Mortgage-Backed Securities — 24.0%** | **Mortgage-Backed Securities — 24.0%** |
| &nbsp;&nbsp;&nbsp; FHLMC Gold Pools, 15 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # J15449, 4.00%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3115 | &nbsp;&nbsp;&nbsp;&nbsp; 3109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G14781, 3.50%, 3/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2074 | &nbsp;&nbsp;&nbsp;&nbsp; 2062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G15201, 4.00%, 5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # J20129, 2.50%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 13619 | &nbsp;&nbsp;&nbsp;&nbsp; 13455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G15438, 4.00%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G15602, 2.50%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 7981 | &nbsp;&nbsp;&nbsp;&nbsp; 7892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # E09028, 2.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 23750 | &nbsp;&nbsp;&nbsp;&nbsp; 23282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # J23362, 2.00%, 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 22946 | &nbsp;&nbsp;&nbsp;&nbsp; 22478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G18466, 2.00%, 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3388 | &nbsp;&nbsp;&nbsp;&nbsp; 3317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G18465, 2.50%, 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6058 | &nbsp;&nbsp;&nbsp;&nbsp; 5964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G15601, 2.50%, 1/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12244 | &nbsp;&nbsp;&nbsp;&nbsp; 12055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G14957, 3.50%, 1/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 31140 | &nbsp;&nbsp;&nbsp;&nbsp; 30947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G16570, 4.00%, 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G18540, 2.50%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11461 | &nbsp;&nbsp;&nbsp;&nbsp; 11178 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G18556, 2.50%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 15905 | &nbsp;&nbsp;&nbsp;&nbsp; 15488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # V60840, 3.00%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3731 | &nbsp;&nbsp;&nbsp;&nbsp; 3674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G16019, 3.50%, 12/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 927 | &nbsp;&nbsp;&nbsp;&nbsp; 925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G16568, 2.50%, 4/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1696 | &nbsp;&nbsp;&nbsp;&nbsp; 1633 |
| &nbsp;&nbsp;&nbsp; FHLMC Gold Pools, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # V81680, 4.50%, 12/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 50154 | &nbsp;&nbsp;&nbsp;&nbsp; 50839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # A39210, 5.50%, 10/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 14185 | &nbsp;&nbsp;&nbsp;&nbsp; 14776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # V83754, 5.50%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 20287 | &nbsp;&nbsp;&nbsp;&nbsp; 20917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # A82255, 5.50%, 9/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 84166 | &nbsp;&nbsp;&nbsp;&nbsp; 85320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G03381, 5.50%, 9/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 13628 | &nbsp;&nbsp;&nbsp;&nbsp; 14195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # A89760, 4.50%, 12/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 13345 | &nbsp;&nbsp;&nbsp;&nbsp; 13520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # A92197, 5.00%, 5/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 39371 | &nbsp;&nbsp;&nbsp;&nbsp; 40609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G06856, 6.00%, 5/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 2710 | &nbsp;&nbsp;&nbsp;&nbsp; 2864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # A93359, 4.00%, 8/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 519 | &nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q03516, 4.50%, 9/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 17086 | &nbsp;&nbsp;&nbsp;&nbsp; 17253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q04688, 4.00%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 2102 | &nbsp;&nbsp;&nbsp;&nbsp; 2066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G08477, 3.50%, 2/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q06771, 3.00%, 3/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 26884 | &nbsp;&nbsp;&nbsp;&nbsp; 25177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # C03858, 3.50%, 4/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 76410 | &nbsp;&nbsp;&nbsp;&nbsp; 73397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G60737, 4.50%, 8/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1623 | &nbsp;&nbsp;&nbsp;&nbsp; 1646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q14694, 3.00%, 1/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 2197 | &nbsp;&nbsp;&nbsp;&nbsp; 2042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G61723, 3.50%, 1/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 46878 | &nbsp;&nbsp;&nbsp;&nbsp; 45087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q17374, 4.00%, 4/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 2308 | &nbsp;&nbsp;&nbsp;&nbsp; 2269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Z40090, 4.50%, 9/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 19995 | &nbsp;&nbsp;&nbsp;&nbsp; 20064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G61617, 4.50%, 1/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 13787 | &nbsp;&nbsp;&nbsp;&nbsp; 13976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G08653, 3.00%, 7/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 35252 | &nbsp;&nbsp;&nbsp;&nbsp; 32403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q35223, 4.00%, 8/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 7586 | &nbsp;&nbsp;&nbsp;&nbsp; 7310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G60238, 3.50%, 10/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 486106 | &nbsp;&nbsp;&nbsp;&nbsp; 462706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G60506, 3.50%, 4/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 28414 | &nbsp;&nbsp;&nbsp;&nbsp; 27011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G08710, 3.00%, 6/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 24129 | &nbsp;&nbsp;&nbsp;&nbsp; 22083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G61235, 4.50%, 9/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 15842 | &nbsp;&nbsp;&nbsp;&nbsp; 15884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q45872, 3.00%, 1/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 242182 | &nbsp;&nbsp;&nbsp;&nbsp; 221485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G08747, 3.00%, 2/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 125060 | &nbsp;&nbsp;&nbsp;&nbsp; 114373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G61623, 3.00%, 4/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 18368 | &nbsp;&nbsp;&nbsp;&nbsp; 16837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G60996, 3.50%, 5/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 5440 | &nbsp;&nbsp;&nbsp;&nbsp; 5153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # V83233, 4.00%, 6/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 68410 | &nbsp;&nbsp;&nbsp;&nbsp; 66527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G08787, 3.00%, 11/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 226437 | &nbsp;&nbsp;&nbsp;&nbsp; 206394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G61681, 3.00%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 5169 | &nbsp;&nbsp;&nbsp;&nbsp; 4718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q52866, 3.00%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 16029 | &nbsp;&nbsp;&nbsp;&nbsp; 14756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G08812, 3.00%, 4/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 7741 | &nbsp;&nbsp;&nbsp;&nbsp; 7044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # G61885, 4.50%, 11/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 20644 | &nbsp;&nbsp;&nbsp;&nbsp; 20579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # Q61487, 4.00%, 2/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 23880 | &nbsp;&nbsp;&nbsp;&nbsp; 23210 |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 15 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB0031, 3.50%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS7140, 2.00%, 1/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 65113 | &nbsp;&nbsp;&nbsp;&nbsp; 63558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB0071, 2.50%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6247 | &nbsp;&nbsp;&nbsp;&nbsp; 6163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS7331, 3.00%, 12/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11224 | &nbsp;&nbsp;&nbsp;&nbsp; 11021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZK9070, 3.00%, 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 344518 | &nbsp;&nbsp;&nbsp;&nbsp; 336584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB0256, 4.00%, 11/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB0077, 3.50%, 10/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 24713 | &nbsp;&nbsp;&nbsp;&nbsp; 24441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB0302, 3.00%, 4/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 291950 | &nbsp;&nbsp;&nbsp;&nbsp; 283660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QN2407, 2.00%, 6/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 75171 | &nbsp;&nbsp;&nbsp;&nbsp; 69905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB8090, 2.50%, 2/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 629480 | &nbsp;&nbsp;&nbsp;&nbsp; 597375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QN6095, 2.00%, 5/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 101848 | &nbsp;&nbsp;&nbsp;&nbsp; 94528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QN6718, 2.00%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 220935 | &nbsp;&nbsp;&nbsp;&nbsp; 204759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB8131, 1.50%, 12/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 518453 | &nbsp;&nbsp;&nbsp;&nbsp; 467493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB8140, 1.50%, 2/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 400529 | &nbsp;&nbsp;&nbsp;&nbsp; 360909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SB8141, 2.00%, 2/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1287488 | &nbsp;&nbsp;&nbsp;&nbsp; 1190817 |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 20 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZA2277, 3.00%, 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 40637 | &nbsp;&nbsp;&nbsp;&nbsp; 39594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZJ9491, 3.50%, 12/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 8943 | &nbsp;&nbsp;&nbsp;&nbsp; 8808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS9164, 3.00%, 9/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1802 | &nbsp;&nbsp;&nbsp;&nbsp; 1752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SC0107, 3.50%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 3179 | &nbsp;&nbsp;&nbsp;&nbsp; 3130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZA2463, 3.50%, 6/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 20600 | &nbsp;&nbsp;&nbsp;&nbsp; 20033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5026, 2.50%, 11/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 27268 | &nbsp;&nbsp;&nbsp;&nbsp; 25082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QK0157, 2.50%, 1/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 13940 | &nbsp;&nbsp;&nbsp;&nbsp; 12694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5032, 2.50%, 2/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 22313 | &nbsp;&nbsp;&nbsp;&nbsp; 20478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5037, 2.50%, 3/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 2259 | &nbsp;&nbsp;&nbsp;&nbsp; 2071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5043, 2.50%, 4/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 31131 | &nbsp;&nbsp;&nbsp;&nbsp; 28534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5048, 2.50%, 5/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 65525 | &nbsp;&nbsp;&nbsp;&nbsp; 60042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SC0131, 1.50%, 3/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 159236 | &nbsp;&nbsp;&nbsp;&nbsp; 134691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SC0134, 1.50%, 3/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 163633 | &nbsp;&nbsp;&nbsp;&nbsp; 138125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5145, 2.00%, 2/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1259405 | &nbsp;&nbsp;&nbsp;&nbsp; 1102870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RB5154, 2.50%, 4/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 754064 | &nbsp;&nbsp;&nbsp;&nbsp; 677150 |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZI3765, 5.50%, 11/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 17874 | &nbsp;&nbsp;&nbsp;&nbsp; 18598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZJ0449, 4.00%, 9/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 16078 | &nbsp;&nbsp;&nbsp;&nbsp; 15810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZL3548, 3.50%, 8/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 49626 | &nbsp;&nbsp;&nbsp;&nbsp; 47399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS3712, 3.50%, 4/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 108778 | &nbsp;&nbsp;&nbsp;&nbsp; 103898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS4077, 3.50%, 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 15682 | &nbsp;&nbsp;&nbsp;&nbsp; 14973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS4592, 4.00%, 11/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 104869 | &nbsp;&nbsp;&nbsp;&nbsp; 102081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS4609, 3.00%, 4/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 29258 | &nbsp;&nbsp;&nbsp;&nbsp; 26926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZM1268, 3.50%, 6/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1302012 | &nbsp;&nbsp;&nbsp;&nbsp; 1219351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0146, 3.00%, 11/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 96397 | &nbsp;&nbsp;&nbsp;&nbsp; 88161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZM2209, 3.50%, 12/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 257210 | &nbsp;&nbsp;&nbsp;&nbsp; 243190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0388, 3.50%, 6/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 338840 | &nbsp;&nbsp;&nbsp;&nbsp; 322504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZM4635, 4.00%, 11/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 326557 | &nbsp;&nbsp;&nbsp;&nbsp; 316271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0225, 3.00%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 433544 | &nbsp;&nbsp;&nbsp;&nbsp; 396140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZS4750, 3.00%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 18584 | &nbsp;&nbsp;&nbsp;&nbsp; 16924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZM7669, 3.50%, 8/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 61451 | &nbsp;&nbsp;&nbsp;&nbsp; 57295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZN4476, 3.50%, 12/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 205353 | &nbsp;&nbsp;&nbsp;&nbsp; 192955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZA6286, 4.00%, 2/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 100904 | &nbsp;&nbsp;&nbsp;&nbsp; 97888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZT1776, 3.50%, 3/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 17329 | &nbsp;&nbsp;&nbsp;&nbsp; 16227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZN5087, 4.00%, 4/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 77404 | &nbsp;&nbsp;&nbsp;&nbsp; 75024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZT1864, 4.00%, 4/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 2306 | &nbsp;&nbsp;&nbsp;&nbsp; 2236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZT1951, 3.50%, 5/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 5600 | &nbsp;&nbsp;&nbsp;&nbsp; 5243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZT1952, 4.00%, 5/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 37152 | &nbsp;&nbsp;&nbsp;&nbsp; 36007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QA4907, 3.00%, 6/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 83461 | &nbsp;&nbsp;&nbsp;&nbsp; 76243 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # ZT2086, 3.50%, 6/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 30958 | &nbsp;&nbsp;&nbsp;&nbsp; 28977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD7502, 3.50%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 89587 | &nbsp;&nbsp;&nbsp;&nbsp; 84082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8001, 3.50%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 10898 | &nbsp;&nbsp;&nbsp;&nbsp; 10199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD2866, 4.00%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 634522 | &nbsp;&nbsp;&nbsp;&nbsp; 617317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD7501, 4.00%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 55854 | &nbsp;&nbsp;&nbsp;&nbsp; 54374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QA1997, 3.00%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 14334 | &nbsp;&nbsp;&nbsp;&nbsp; 12925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA1202, 3.50%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 305302 | &nbsp;&nbsp;&nbsp;&nbsp; 286366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8005, 3.50%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 39063 | &nbsp;&nbsp;&nbsp;&nbsp; 36551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8006, 4.00%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 22278 | &nbsp;&nbsp;&nbsp;&nbsp; 21502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QA4509, 3.00%, 11/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 268980 | &nbsp;&nbsp;&nbsp;&nbsp; 242125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8025, 3.50%, 11/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 116231 | &nbsp;&nbsp;&nbsp;&nbsp; 108745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA1878, 3.50%, 12/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 1687 | &nbsp;&nbsp;&nbsp;&nbsp; 1578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8037, 2.50%, 1/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 337192 | &nbsp;&nbsp;&nbsp;&nbsp; 289004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA2116, 3.00%, 2/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 435835 | &nbsp;&nbsp;&nbsp;&nbsp; 394598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0303, 2.50%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 555165 | &nbsp;&nbsp;&nbsp;&nbsp; 480850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QA9653, 3.50%, 5/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 30025 | &nbsp;&nbsp;&nbsp;&nbsp; 28110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QB1691, 2.00%, 7/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 679534 | &nbsp;&nbsp;&nbsp;&nbsp; 557399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8089, 2.50%, 7/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 720928 | &nbsp;&nbsp;&nbsp;&nbsp; 619156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8091, 2.50%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2040230 | &nbsp;&nbsp;&nbsp;&nbsp; 1752003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA3727, 2.00%, 10/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1536277 | &nbsp;&nbsp;&nbsp;&nbsp; 1272641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8104, 1.50%, 11/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1056173 | &nbsp;&nbsp;&nbsp;&nbsp; 820026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA4197, 2.50%, 12/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 434241 | &nbsp;&nbsp;&nbsp;&nbsp; 373245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QB7172, 2.00%, 1/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 4645682 | &nbsp;&nbsp;&nbsp;&nbsp; 3793489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA4349, 2.50%, 1/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 280300 | &nbsp;&nbsp;&nbsp;&nbsp; 242086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QB8583, 1.50%, 2/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1038092 | &nbsp;&nbsp;&nbsp;&nbsp; 808564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8145, 1.50%, 5/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 897431 | &nbsp;&nbsp;&nbsp;&nbsp; 697050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA5287, 2.00%, 5/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 7776 | &nbsp;&nbsp;&nbsp;&nbsp; 6386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QC2565, 2.00%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1497031 | &nbsp;&nbsp;&nbsp;&nbsp; 1226686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QC3259, 2.00%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 296119 | &nbsp;&nbsp;&nbsp;&nbsp; 241055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8158, 3.50%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 218164 | &nbsp;&nbsp;&nbsp;&nbsp; 203100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QC6057, 2.50%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 210346 | &nbsp;&nbsp;&nbsp;&nbsp; 180232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8163, 3.50%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 90673 | &nbsp;&nbsp;&nbsp;&nbsp; 84419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA5832, 2.50%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 591545 | &nbsp;&nbsp;&nbsp;&nbsp; 510582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0688, 2.50%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3626889 | &nbsp;&nbsp;&nbsp;&nbsp; 3138684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8173, 2.50%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 932460 | &nbsp;&nbsp;&nbsp;&nbsp; 798674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QC8788, 3.00%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1463347 | &nbsp;&nbsp;&nbsp;&nbsp; 1302722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QD2146, 2.00%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1130073 | &nbsp;&nbsp;&nbsp;&nbsp; 929825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QD3500, 2.50%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1447871 | &nbsp;&nbsp;&nbsp;&nbsp; 1248641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD1963, 2.00%, 1/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 7969960 | &nbsp;&nbsp;&nbsp;&nbsp; 6532443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD1064, 3.00%, 1/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 689506 | &nbsp;&nbsp;&nbsp;&nbsp; 614131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA6816, 2.00%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 212091 | &nbsp;&nbsp;&nbsp;&nbsp; 172646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0897, 2.00%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 799643 | &nbsp;&nbsp;&nbsp;&nbsp; 664076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8193, 2.00%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 9347180 | &nbsp;&nbsp;&nbsp;&nbsp; 7652294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8204, 2.00%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1638386 | &nbsp;&nbsp;&nbsp;&nbsp; 1340280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QD9578, 2.50%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1286501 | &nbsp;&nbsp;&nbsp;&nbsp; 1100703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8205, 2.50%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 4566425 | &nbsp;&nbsp;&nbsp;&nbsp; 3905995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD1461, 3.00%, 5/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 814104 | &nbsp;&nbsp;&nbsp;&nbsp; 732266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8214, 3.50%, 5/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 937103 | &nbsp;&nbsp;&nbsp;&nbsp; 868267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD1840, 3.00%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 390082 | &nbsp;&nbsp;&nbsp;&nbsp; 350069 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8226, 3.50%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1211028 | &nbsp;&nbsp;&nbsp;&nbsp; 1122069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8256, 4.00%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1886909 | &nbsp;&nbsp;&nbsp;&nbsp; 1806153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA8112, 4.50%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1518235 | &nbsp;&nbsp;&nbsp;&nbsp; 1492412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8257, 4.50%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 397909 | &nbsp;&nbsp;&nbsp;&nbsp; 391305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD2381, 5.50%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 3784753 | &nbsp;&nbsp;&nbsp;&nbsp; 3882779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD2572, 5.50%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 816255 | &nbsp;&nbsp;&nbsp;&nbsp; 838816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD2580, 6.00%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 668337 | &nbsp;&nbsp;&nbsp;&nbsp; 687125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA8736, 6.50%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 580679 | &nbsp;&nbsp;&nbsp;&nbsp; 606231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8322, 4.50%, 5/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 84251 | &nbsp;&nbsp;&nbsp;&nbsp; 82750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA9469, 6.50%, 7/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 308885 | &nbsp;&nbsp;&nbsp;&nbsp; 322195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8373, 6.00%, 11/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1427767 | &nbsp;&nbsp;&nbsp;&nbsp; 1464356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8397, 6.50%, 1/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 1896011 | &nbsp;&nbsp;&nbsp;&nbsp; 1963854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD4605, 7.00%, 1/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 258133 | &nbsp;&nbsp;&nbsp;&nbsp; 270626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QI5618, 6.50%, 5/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 587048 | &nbsp;&nbsp;&nbsp;&nbsp; 616293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD7572, 6.50%, 5/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 948120 | &nbsp;&nbsp;&nbsp;&nbsp; 994611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RJ1786, 6.00%, 6/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 753556 | &nbsp;&nbsp;&nbsp;&nbsp; 773449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8439, 6.00%, 6/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 893749 | &nbsp;&nbsp;&nbsp;&nbsp; 915147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8475, 5.50%, 11/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 1835889 | &nbsp;&nbsp;&nbsp;&nbsp; 1859822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SL0226, 6.00%, 2/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 4444328 | &nbsp;&nbsp;&nbsp;&nbsp; 4613753 |
| &nbsp;&nbsp;&nbsp; FNMA / FHLMC UMBS, Single Family, 30 Year TBA, 6.00%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3123000 | &nbsp;&nbsp;&nbsp;&nbsp; 3197481 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 15 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AE0939, 3.50%, 2/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2968, 4.00%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AJ9357, 3.50%, 1/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 10773 | &nbsp;&nbsp;&nbsp;&nbsp; 10706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL4586, 4.00%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1257 | &nbsp;&nbsp;&nbsp;&nbsp; 1253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AO4400, 2.50%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 10168 | &nbsp;&nbsp;&nbsp;&nbsp; 10010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB6811, 2.50%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3406 | &nbsp;&nbsp;&nbsp;&nbsp; 3358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AQ9442, 2.00%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 7700 | &nbsp;&nbsp;&nbsp;&nbsp; 7551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB8447, 2.50%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6613 | &nbsp;&nbsp;&nbsp;&nbsp; 6513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AR4180, 2.50%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2523 | &nbsp;&nbsp;&nbsp;&nbsp; 2484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB8787, 2.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 20900 | &nbsp;&nbsp;&nbsp;&nbsp; 20468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AP6059, 2.00%, 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3042 | &nbsp;&nbsp;&nbsp;&nbsp; 2966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM1892, 2.50%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5197 | &nbsp;&nbsp;&nbsp;&nbsp; 5128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1105, 2.50%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12199 | &nbsp;&nbsp;&nbsp;&nbsp; 12010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS3345, 2.00%, 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6311 | &nbsp;&nbsp;&nbsp;&nbsp; 6114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1465, 3.00%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 32411 | &nbsp;&nbsp;&nbsp;&nbsp; 31992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 890666, 2.00%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 10125 | &nbsp;&nbsp;&nbsp;&nbsp; 9852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL9418, 3.50%, 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16507 | &nbsp;&nbsp;&nbsp;&nbsp; 16384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BD5647, 2.00%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 10005 | &nbsp;&nbsp;&nbsp;&nbsp; 9573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 890776, 3.50%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 8587 | &nbsp;&nbsp;&nbsp;&nbsp; 8525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5490, 3.50%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5574 | &nbsp;&nbsp;&nbsp;&nbsp; 5536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS8708, 2.50%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1825 | &nbsp;&nbsp;&nbsp;&nbsp; 1765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4993, 3.50%, 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6358 | &nbsp;&nbsp;&nbsp;&nbsp; 6311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3124, 2.50%, 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 20124 | &nbsp;&nbsp;&nbsp;&nbsp; 19458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3099, 3.50%, 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2338 | &nbsp;&nbsp;&nbsp;&nbsp; 2326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA0775, 2.50%, 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 15150 | &nbsp;&nbsp;&nbsp;&nbsp; 14518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BH7081, 2.50%, 12/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 20909 | &nbsp;&nbsp;&nbsp;&nbsp; 20107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BH8720, 3.50%, 12/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 20823 | &nbsp;&nbsp;&nbsp;&nbsp; 20483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1691, 2.50%, 1/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6613 | &nbsp;&nbsp;&nbsp;&nbsp; 6446 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA9078, 3.00%, 9/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 177058 | &nbsp;&nbsp;&nbsp;&nbsp; 173264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1123, 4.00%, 9/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1194 | &nbsp;&nbsp;&nbsp;&nbsp; 1196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2153, 4.00%, 11/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BD9105, 4.00%, 1/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 24217 | &nbsp;&nbsp;&nbsp;&nbsp; 24131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5306, 4.00%, 1/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 2790 | &nbsp;&nbsp;&nbsp;&nbsp; 2796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1733, 3.50%, 5/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 345813 | &nbsp;&nbsp;&nbsp;&nbsp; 342115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BO1822, 3.50%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 45524 | &nbsp;&nbsp;&nbsp;&nbsp; 45007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3764, 2.50%, 9/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5248 | &nbsp;&nbsp;&nbsp;&nbsp; 5015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3910, 2.00%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 17757 | &nbsp;&nbsp;&nbsp;&nbsp; 16568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3569, 3.00%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 57315 | &nbsp;&nbsp;&nbsp;&nbsp; 56192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM7941, 2.50%, 2/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 192791 | &nbsp;&nbsp;&nbsp;&nbsp; 186623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4075, 2.50%, 7/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 269592 | &nbsp;&nbsp;&nbsp;&nbsp; 256514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA7497, 2.50%, 10/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 820529 | &nbsp;&nbsp;&nbsp;&nbsp; 780215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM5396, 2.00%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 512771 | &nbsp;&nbsp;&nbsp;&nbsp; 478740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BR1309, 2.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 364054 | &nbsp;&nbsp;&nbsp;&nbsp; 338048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM5537, 2.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 416449 | &nbsp;&nbsp;&nbsp;&nbsp; 387258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM5797, 2.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 391551 | &nbsp;&nbsp;&nbsp;&nbsp; 364113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB0305, 1.50%, 5/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 616076 | &nbsp;&nbsp;&nbsp;&nbsp; 557079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM7843, 1.50%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 61027 | &nbsp;&nbsp;&nbsp;&nbsp; 55182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4430, 1.00%, 8/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 127035 | &nbsp;&nbsp;&nbsp;&nbsp; 111312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BT0273, 1.50%, 9/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 305585 | &nbsp;&nbsp;&nbsp;&nbsp; 276211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4418, 2.00%, 9/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 117318 | &nbsp;&nbsp;&nbsp;&nbsp; 108728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM9247, 2.00%, 11/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 259761 | &nbsp;&nbsp;&nbsp;&nbsp; 240416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4497, 2.00%, 12/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 3601410 | &nbsp;&nbsp;&nbsp;&nbsp; 3332345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BV7189, 2.00%, 3/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 621720 | &nbsp;&nbsp;&nbsp;&nbsp; 575027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4581, 1.50%, 4/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 686036 | &nbsp;&nbsp;&nbsp;&nbsp; 618588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4582, 2.00%, 4/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1272179 | &nbsp;&nbsp;&nbsp;&nbsp; 1175855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4604, 3.00%, 5/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 619109 | &nbsp;&nbsp;&nbsp;&nbsp; 595665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS4059, 1.50%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1849005 | &nbsp;&nbsp;&nbsp;&nbsp; 1667253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS4794, 2.00%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 66146 | &nbsp;&nbsp;&nbsp;&nbsp; 61138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS4756, 2.50%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1470469 | &nbsp;&nbsp;&nbsp;&nbsp; 1396958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5558, 5.00%, 12/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 955216 | &nbsp;&nbsp;&nbsp;&nbsp; 966253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5772, 5.50%, 7/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 377055 | &nbsp;&nbsp;&nbsp;&nbsp; 385945 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 20 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AE6799, 4.50%, 11/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 922 | &nbsp;&nbsp;&nbsp;&nbsp; 924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA0885, 3.50%, 10/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 14971 | &nbsp;&nbsp;&nbsp;&nbsp; 14763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB4853, 3.00%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 16056 | &nbsp;&nbsp;&nbsp;&nbsp; 15665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA1058, 3.00%, 5/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6979 | &nbsp;&nbsp;&nbsp;&nbsp; 6809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA1165, 3.00%, 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 39677 | &nbsp;&nbsp;&nbsp;&nbsp; 38610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2079, 4.00%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 8529 | &nbsp;&nbsp;&nbsp;&nbsp; 8487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2138, 3.50%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 655292 | &nbsp;&nbsp;&nbsp;&nbsp; 641027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL7654, 3.00%, 9/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 39602 | &nbsp;&nbsp;&nbsp;&nbsp; 37940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2472, 3.00%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 8035 | &nbsp;&nbsp;&nbsp;&nbsp; 7710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1133, 4.00%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 19035 | &nbsp;&nbsp;&nbsp;&nbsp; 18945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM3089, 4.00%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 340342 | &nbsp;&nbsp;&nbsp;&nbsp; 337596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3099, 4.00%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1417 | &nbsp;&nbsp;&nbsp;&nbsp; 1409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5330, 2.50%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 26811 | &nbsp;&nbsp;&nbsp;&nbsp; 25167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3204, 4.00%, 10/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 21991 | &nbsp;&nbsp;&nbsp;&nbsp; 21756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4072, 2.50%, 7/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 109730 | &nbsp;&nbsp;&nbsp;&nbsp; 100418 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4128, 2.00%, 9/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 1050496 | &nbsp;&nbsp;&nbsp;&nbsp; 936587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4204, 2.00%, 12/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 657177 | &nbsp;&nbsp;&nbsp;&nbsp; 580688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA9019, 2.00%, 2/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 276140 | &nbsp;&nbsp;&nbsp;&nbsp; 242560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4310, 1.50%, 4/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 614532 | &nbsp;&nbsp;&nbsp;&nbsp; 517216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4422, 2.00%, 9/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 307431 | &nbsp;&nbsp;&nbsp;&nbsp; 269987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS0316, 1.50%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 524904 | &nbsp;&nbsp;&nbsp;&nbsp; 444040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4474, 2.00%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 393612 | &nbsp;&nbsp;&nbsp;&nbsp; 343776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4519, 1.50%, 1/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 414029 | &nbsp;&nbsp;&nbsp;&nbsp; 352159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4521, 2.50%, 1/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 420252 | &nbsp;&nbsp;&nbsp;&nbsp; 379709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4587, 2.50%, 4/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 347963 | &nbsp;&nbsp;&nbsp;&nbsp; 309869 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 254447, 6.00%, 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 12777 | &nbsp;&nbsp;&nbsp;&nbsp; 13217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 711215, 5.50%, 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 13383 | &nbsp;&nbsp;&nbsp;&nbsp; 13552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 725228, 6.00%, 3/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 30881 | &nbsp;&nbsp;&nbsp;&nbsp; 32161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 790003, 6.00%, 8/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 10715 | &nbsp;&nbsp;&nbsp;&nbsp; 10962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 735503, 6.00%, 4/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 22547 | &nbsp;&nbsp;&nbsp;&nbsp; 23624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 904601, 6.00%, 11/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 25645 | &nbsp;&nbsp;&nbsp;&nbsp; 27083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 888538, 5.50%, 1/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 13222 | &nbsp;&nbsp;&nbsp;&nbsp; 13798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB0284, 6.00%, 2/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 24739 | &nbsp;&nbsp;&nbsp;&nbsp; 26124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 956965, 6.50%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 10421 | &nbsp;&nbsp;&nbsp;&nbsp; 10899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BH7907, 6.50%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 14096 | &nbsp;&nbsp;&nbsp;&nbsp; 14955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 961793, 5.00%, 3/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 51204 | &nbsp;&nbsp;&nbsp;&nbsp; 52752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 985661, 5.50%, 6/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 10998 | &nbsp;&nbsp;&nbsp;&nbsp; 11438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AC2638, 5.00%, 10/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 91811 | &nbsp;&nbsp;&nbsp;&nbsp; 94589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL0100, 6.00%, 10/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 34190 | &nbsp;&nbsp;&nbsp;&nbsp; 36106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AC4886, 5.00%, 11/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 17548 | &nbsp;&nbsp;&nbsp;&nbsp; 18080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 190399, 5.50%, 11/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 54662 | &nbsp;&nbsp;&nbsp;&nbsp; 56846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB1143, 4.50%, 6/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 53778 | &nbsp;&nbsp;&nbsp;&nbsp; 54420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AD6938, 4.50%, 6/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 88777 | &nbsp;&nbsp;&nbsp;&nbsp; 89783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB1292, 5.00%, 8/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 12296 | &nbsp;&nbsp;&nbsp;&nbsp; 12703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL5437, 5.00%, 8/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 57463 | &nbsp;&nbsp;&nbsp;&nbsp; 59061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB1421, 5.00%, 9/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 28522 | &nbsp;&nbsp;&nbsp;&nbsp; 29385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AE4142, 5.00%, 9/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 21805 | &nbsp;&nbsp;&nbsp;&nbsp; 22280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AE3857, 5.00%, 10/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 340458 | &nbsp;&nbsp;&nbsp;&nbsp; 350767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AE8289, 4.00%, 12/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 66630 | &nbsp;&nbsp;&nbsp;&nbsp; 65546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA0622, 3.50%, 1/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 22638 | &nbsp;&nbsp;&nbsp;&nbsp; 21847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AH2312, 5.00%, 1/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 61265 | &nbsp;&nbsp;&nbsp;&nbsp; 63120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AE0828, 3.50%, 2/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 12644 | &nbsp;&nbsp;&nbsp;&nbsp; 12206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AH3804, 4.00%, 2/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 14533 | &nbsp;&nbsp;&nbsp;&nbsp; 14306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA0639, 4.00%, 2/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 23153 | &nbsp;&nbsp;&nbsp;&nbsp; 22769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL0241, 4.00%, 4/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 47304 | &nbsp;&nbsp;&nbsp;&nbsp; 46510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AI1887, 4.50%, 5/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 193138 | &nbsp;&nbsp;&nbsp;&nbsp; 195169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM3118, 6.00%, 7/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 56046 | &nbsp;&nbsp;&nbsp;&nbsp; 59189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AJ2293, 4.00%, 9/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 13319 | &nbsp;&nbsp;&nbsp;&nbsp; 13101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AW8154, 3.50%, 1/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 15420 | &nbsp;&nbsp;&nbsp;&nbsp; 14852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AX5318, 4.50%, 1/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 45859 | &nbsp;&nbsp;&nbsp;&nbsp; 46285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BD4480, 4.50%, 1/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 272267 | &nbsp;&nbsp;&nbsp;&nbsp; 272184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL1998, 4.00%, 3/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 69692 | &nbsp;&nbsp;&nbsp;&nbsp; 68479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AO4134, 3.50%, 6/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 8635 | &nbsp;&nbsp;&nbsp;&nbsp; 8285 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB6632, 3.50%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 93854 | &nbsp;&nbsp;&nbsp;&nbsp; 89701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB6633, 3.50%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 16330 | &nbsp;&nbsp;&nbsp;&nbsp; 15607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL3344, 4.50%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 96856 | &nbsp;&nbsp;&nbsp;&nbsp; 97516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB6828, 3.50%, 11/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1188 | &nbsp;&nbsp;&nbsp;&nbsp; 1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL3182, 3.50%, 12/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 13544 | &nbsp;&nbsp;&nbsp;&nbsp; 13029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB7964, 3.50%, 2/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 1667 | &nbsp;&nbsp;&nbsp;&nbsp; 1592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AR2271, 3.50%, 2/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 226470 | &nbsp;&nbsp;&nbsp;&nbsp; 216168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4751, 3.50%, 3/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 24081 | &nbsp;&nbsp;&nbsp;&nbsp; 23023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB8742, 4.00%, 3/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 10016 | &nbsp;&nbsp;&nbsp;&nbsp; 9840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AR6770, 4.00%, 3/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 11892 | &nbsp;&nbsp;&nbsp;&nbsp; 11673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AB9194, 3.50%, 5/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 91350 | &nbsp;&nbsp;&nbsp;&nbsp; 87166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AT2612, 3.50%, 9/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 60079 | &nbsp;&nbsp;&nbsp;&nbsp; 57359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AU4256, 3.50%, 9/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 19331 | &nbsp;&nbsp;&nbsp;&nbsp; 18425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL4062, 4.00%, 9/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 19673 | &nbsp;&nbsp;&nbsp;&nbsp; 19310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4635, 2.50%, 10/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 121100 | &nbsp;&nbsp;&nbsp;&nbsp; 109809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS1121, 4.00%, 11/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 23761 | &nbsp;&nbsp;&nbsp;&nbsp; 23286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AV0022, 4.00%, 11/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 333148 | &nbsp;&nbsp;&nbsp;&nbsp; 326077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AV6103, 4.00%, 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 126420 | &nbsp;&nbsp;&nbsp;&nbsp; 123580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BC1737, 4.00%, 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 43190 | &nbsp;&nbsp;&nbsp;&nbsp; 43128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5365, 4.00%, 3/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 50194 | &nbsp;&nbsp;&nbsp;&nbsp; 49409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3049, 4.00%, 4/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 722317 | &nbsp;&nbsp;&nbsp;&nbsp; 708353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1744, 3.50%, 5/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 22451 | &nbsp;&nbsp;&nbsp;&nbsp; 21513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS2700, 4.00%, 6/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 28685 | &nbsp;&nbsp;&nbsp;&nbsp; 28059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AW6233, 4.50%, 6/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 288068 | &nbsp;&nbsp;&nbsp;&nbsp; 288240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS2947, 4.00%, 7/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 30140 | &nbsp;&nbsp;&nbsp;&nbsp; 29444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL9072, 5.00%, 7/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 47280 | &nbsp;&nbsp;&nbsp;&nbsp; 48489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL9569, 5.00%, 8/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 71883 | &nbsp;&nbsp;&nbsp;&nbsp; 74354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AX0152, 4.50%, 9/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 17791 | &nbsp;&nbsp;&nbsp;&nbsp; 17801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS3867, 4.00%, 11/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 7558 | &nbsp;&nbsp;&nbsp;&nbsp; 7357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1746, 3.50%, 1/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 68191 | &nbsp;&nbsp;&nbsp;&nbsp; 65133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM0015, 4.00%, 2/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 71841 | &nbsp;&nbsp;&nbsp;&nbsp; 70568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2193, 4.50%, 2/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 5658 | &nbsp;&nbsp;&nbsp;&nbsp; 5666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3414, 4.00%, 3/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 475405 | &nbsp;&nbsp;&nbsp;&nbsp; 461887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM3398, 3.50%, 4/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 10999 | &nbsp;&nbsp;&nbsp;&nbsp; 10503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS5851, 4.50%, 9/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 7593 | &nbsp;&nbsp;&nbsp;&nbsp; 7604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS6184, 3.50%, 11/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 99078 | &nbsp;&nbsp;&nbsp;&nbsp; 94432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BA0315, 3.50%, 11/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 330087 | &nbsp;&nbsp;&nbsp;&nbsp; 313025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1869, 4.00%, 11/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 48911 | &nbsp;&nbsp;&nbsp;&nbsp; 47666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BC0066, 3.50%, 12/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 23775 | &nbsp;&nbsp;&nbsp;&nbsp; 22501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3413, 4.00%, 1/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 56538 | &nbsp;&nbsp;&nbsp;&nbsp; 55100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2323, 4.00%, 2/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 29706 | &nbsp;&nbsp;&nbsp;&nbsp; 29192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL9128, 4.50%, 2/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 13923 | &nbsp;&nbsp;&nbsp;&nbsp; 14066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS6811, 3.00%, 3/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 18874 | &nbsp;&nbsp;&nbsp;&nbsp; 17301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4834, 3.00%, 3/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 21595 | &nbsp;&nbsp;&nbsp;&nbsp; 20049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1782, 4.00%, 3/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 9462 | &nbsp;&nbsp;&nbsp;&nbsp; 9267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2195, 4.00%, 3/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 21436 | &nbsp;&nbsp;&nbsp;&nbsp; 21061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS7003, 3.00%, 4/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 27104 | &nbsp;&nbsp;&nbsp;&nbsp; 24787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS7198, 4.50%, 5/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 77092 | &nbsp;&nbsp;&nbsp;&nbsp; 77205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS7660, 2.50%, 8/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 175183 | &nbsp;&nbsp;&nbsp;&nbsp; 153518 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL9385, 3.00%, 11/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 38885 | &nbsp;&nbsp;&nbsp;&nbsp; 35534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2806, 3.00%, 11/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 121118 | &nbsp;&nbsp;&nbsp;&nbsp; 110640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM3288, 3.50%, 12/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 16517 | &nbsp;&nbsp;&nbsp;&nbsp; 15731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2807, 3.00%, 1/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 61652 | &nbsp;&nbsp;&nbsp;&nbsp; 56830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 890856, 3.50%, 1/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 101915 | &nbsp;&nbsp;&nbsp;&nbsp; 96457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3374, 3.50%, 1/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 108952 | &nbsp;&nbsp;&nbsp;&nbsp; 105054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM0041, 3.00%, 2/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 498991 | &nbsp;&nbsp;&nbsp;&nbsp; 455837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5955, 4.00%, 2/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 24047 | &nbsp;&nbsp;&nbsp;&nbsp; 23433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5270, 4.50%, 2/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 12101 | &nbsp;&nbsp;&nbsp;&nbsp; 12217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4350, 3.00%, 3/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 589180 | &nbsp;&nbsp;&nbsp;&nbsp; 542236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2920, 3.00%, 3/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 6114 | &nbsp;&nbsp;&nbsp;&nbsp; 5585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS9313, 4.00%, 3/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 11900 | &nbsp;&nbsp;&nbsp;&nbsp; 11559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM4735, 3.00%, 4/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 129093 | &nbsp;&nbsp;&nbsp;&nbsp; 117188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS9480, 4.50%, 4/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 17286 | &nbsp;&nbsp;&nbsp;&nbsp; 17297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1772, 4.50%, 5/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 10855 | &nbsp;&nbsp;&nbsp;&nbsp; 10958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS9946, 3.50%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 33271 | &nbsp;&nbsp;&nbsp;&nbsp; 31447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM1568, 3.50%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 48504 | &nbsp;&nbsp;&nbsp;&nbsp; 46440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BH7375, 3.50%, 8/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 37362 | &nbsp;&nbsp;&nbsp;&nbsp; 35313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA0148, 4.50%, 8/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 8189 | &nbsp;&nbsp;&nbsp;&nbsp; 8139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA0850, 3.00%, 9/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 27889 | &nbsp;&nbsp;&nbsp;&nbsp; 25476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3147, 3.00%, 10/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 31667 | &nbsp;&nbsp;&nbsp;&nbsp; 28897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM2003, 4.00%, 10/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 119118 | &nbsp;&nbsp;&nbsp;&nbsp; 115704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BH9392, 3.50%, 11/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 10521 | &nbsp;&nbsp;&nbsp;&nbsp; 9883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA0681, 3.50%, 11/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 168954 | &nbsp;&nbsp;&nbsp;&nbsp; 160304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA4015, 3.00%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 7356 | &nbsp;&nbsp;&nbsp;&nbsp; 6702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BJ6154, 3.50%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 113495 | &nbsp;&nbsp;&nbsp;&nbsp; 107255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3238, 3.50%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 38009 | &nbsp;&nbsp;&nbsp;&nbsp; 35784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BJ5910, 3.50%, 2/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 176243 | &nbsp;&nbsp;&nbsp;&nbsp; 168186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4054, 4.00%, 5/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 71414 | &nbsp;&nbsp;&nbsp;&nbsp; 69687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM4757, 3.50%, 7/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 29736 | &nbsp;&nbsp;&nbsp;&nbsp; 28249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3438, 3.00%, 8/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 538165 | &nbsp;&nbsp;&nbsp;&nbsp; 491786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM2007, 4.00%, 9/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 3254 | &nbsp;&nbsp;&nbsp;&nbsp; 3159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA2368, 4.00%, 9/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 21068 | &nbsp;&nbsp;&nbsp;&nbsp; 20445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA4655, 3.50%, 10/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 72307 | &nbsp;&nbsp;&nbsp;&nbsp; 68312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3495, 4.00%, 10/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 21205 | &nbsp;&nbsp;&nbsp;&nbsp; 20574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA2432, 4.50%, 10/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 37753 | &nbsp;&nbsp;&nbsp;&nbsp; 37591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM7895, 3.50%, 11/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 204587 | &nbsp;&nbsp;&nbsp;&nbsp; 194125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BN0895, 4.50%, 11/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 879851 | &nbsp;&nbsp;&nbsp;&nbsp; 875337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1248, 4.50%, 11/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 12317 | &nbsp;&nbsp;&nbsp;&nbsp; 12274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA2797, 4.50%, 12/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 71055 | &nbsp;&nbsp;&nbsp;&nbsp; 70778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM0030, 3.00%, 2/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 39357 | &nbsp;&nbsp;&nbsp;&nbsp; 35930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM6237, 3.50%, 4/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 441577 | &nbsp;&nbsp;&nbsp;&nbsp; 418263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3637, 3.50%, 4/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 13067 | &nbsp;&nbsp;&nbsp;&nbsp; 12232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3638, 4.00%, 4/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 12338 | &nbsp;&nbsp;&nbsp;&nbsp; 11957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BN5418, 4.50%, 4/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 13032 | &nbsp;&nbsp;&nbsp;&nbsp; 12986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3663, 3.50%, 5/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 755864 | &nbsp;&nbsp;&nbsp;&nbsp; 707493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3664, 4.00%, 5/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 6085 | &nbsp;&nbsp;&nbsp;&nbsp; 5893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM4074, 4.50%, 5/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 209563 | &nbsp;&nbsp;&nbsp;&nbsp; 208618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA4358, 3.50%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 13338 | &nbsp;&nbsp;&nbsp;&nbsp; 12479 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3692, 3.50%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 763873 | &nbsp;&nbsp;&nbsp;&nbsp; 714832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1672, 4.50%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 670644 | &nbsp;&nbsp;&nbsp;&nbsp; 676177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3745, 3.50%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 869868 | &nbsp;&nbsp;&nbsp;&nbsp; 813842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3746, 4.00%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 9016 | &nbsp;&nbsp;&nbsp;&nbsp; 8727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1385, 5.00%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 256879 | &nbsp;&nbsp;&nbsp;&nbsp; 261744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BO4012, 3.00%, 9/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 92147 | &nbsp;&nbsp;&nbsp;&nbsp; 82035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM1449, 3.50%, 9/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 109816 | &nbsp;&nbsp;&nbsp;&nbsp; 102731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM4430, 3.50%, 9/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 221475 | &nbsp;&nbsp;&nbsp;&nbsp; 207438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3572, 4.50%, 9/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 56458 | &nbsp;&nbsp;&nbsp;&nbsp; 56250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3803, 3.50%, 10/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 30119 | &nbsp;&nbsp;&nbsp;&nbsp; 28170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3833, 2.50%, 11/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 738017 | &nbsp;&nbsp;&nbsp;&nbsp; 634985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BK0350, 3.00%, 11/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 642159 | &nbsp;&nbsp;&nbsp;&nbsp; 582873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2363, 3.00%, 1/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1270893 | &nbsp;&nbsp;&nbsp;&nbsp; 1157174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA5021, 3.50%, 1/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 27543 | &nbsp;&nbsp;&nbsp;&nbsp; 25752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM5922, 3.50%, 1/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 293926 | &nbsp;&nbsp;&nbsp;&nbsp; 274908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3906, 3.50%, 1/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 27813 | &nbsp;&nbsp;&nbsp;&nbsp; 26001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM2733, 2.50%, 3/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 81629 | &nbsp;&nbsp;&nbsp;&nbsp; 70215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM4372, 3.50%, 3/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 385404 | &nbsp;&nbsp;&nbsp;&nbsp; 362651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BP2403, 3.50%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 238293 | &nbsp;&nbsp;&nbsp;&nbsp; 222436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BP5001, 2.50%, 5/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 463448 | &nbsp;&nbsp;&nbsp;&nbsp; 398069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM3257, 3.00%, 5/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 195068 | &nbsp;&nbsp;&nbsp;&nbsp; 177801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4078, 2.50%, 7/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1058087 | &nbsp;&nbsp;&nbsp;&nbsp; 909476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BP6626, 2.00%, 8/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1976037 | &nbsp;&nbsp;&nbsp;&nbsp; 1618808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4100, 2.00%, 8/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 914944 | &nbsp;&nbsp;&nbsp;&nbsp; 747939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BP9500, 2.50%, 8/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 74096 | &nbsp;&nbsp;&nbsp;&nbsp; 63628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM5750, 4.00%, 8/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 251142 | &nbsp;&nbsp;&nbsp;&nbsp; 241960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA7017, 2.00%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1151384 | &nbsp;&nbsp;&nbsp;&nbsp; 962493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BK3044, 2.50%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 636535 | &nbsp;&nbsp;&nbsp;&nbsp; 546543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BP6702, 2.50%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 475889 | &nbsp;&nbsp;&nbsp;&nbsp; 413028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM8260, 4.00%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 422730 | &nbsp;&nbsp;&nbsp;&nbsp; 411016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4159, 2.50%, 10/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 474706 | &nbsp;&nbsp;&nbsp;&nbsp; 407495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA7603, 2.50%, 11/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 256675 | &nbsp;&nbsp;&nbsp;&nbsp; 220623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4183, 2.50%, 11/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2122046 | &nbsp;&nbsp;&nbsp;&nbsp; 1821594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA8005, 1.50%, 12/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 142780 | &nbsp;&nbsp;&nbsp;&nbsp; 110942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA8222, 1.50%, 12/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 247110 | &nbsp;&nbsp;&nbsp;&nbsp; 192475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4209, 1.50%, 12/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1098284 | &nbsp;&nbsp;&nbsp;&nbsp; 853640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BQ5160, 2.00%, 12/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2209717 | &nbsp;&nbsp;&nbsp;&nbsp; 1811274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM6241, 2.00%, 1/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2957371 | &nbsp;&nbsp;&nbsp;&nbsp; 2423944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM5854, 2.50%, 1/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 146034 | &nbsp;&nbsp;&nbsp;&nbsp; 126111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4254, 1.50%, 2/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 293724 | &nbsp;&nbsp;&nbsp;&nbsp; 228129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA9190, 2.00%, 2/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 152335 | &nbsp;&nbsp;&nbsp;&nbsp; 124507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BR3515, 2.50%, 2/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 136315 | &nbsp;&nbsp;&nbsp;&nbsp; 116943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM6523, 2.50%, 3/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 230296 | &nbsp;&nbsp;&nbsp;&nbsp; 197853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM6764, 2.50%, 3/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 726276 | &nbsp;&nbsp;&nbsp;&nbsp; 618264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM6537, 2.00%, 4/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2291098 | &nbsp;&nbsp;&nbsp;&nbsp; 1910705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4306, 2.50%, 4/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 970643 | &nbsp;&nbsp;&nbsp;&nbsp; 832198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4343, 1.50%, 5/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 342798 | &nbsp;&nbsp;&nbsp;&nbsp; 266379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM7066, 2.50%, 5/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 619063 | &nbsp;&nbsp;&nbsp;&nbsp; 534874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4354, 1.50%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 441336 | &nbsp;&nbsp;&nbsp;&nbsp; 343139 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB0727, 2.50%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1155564 | &nbsp;&nbsp;&nbsp;&nbsp; 996024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM7418, 2.50%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 715969 | &nbsp;&nbsp;&nbsp;&nbsp; 618362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4356, 2.50%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 4468373 | &nbsp;&nbsp;&nbsp;&nbsp; 3829144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4377, 1.50%, 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 156743 | &nbsp;&nbsp;&nbsp;&nbsp; 121890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM8194, 2.00%, 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 321358 | &nbsp;&nbsp;&nbsp;&nbsp; 261600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB1027, 2.50%, 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 222626 | &nbsp;&nbsp;&nbsp;&nbsp; 190190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4379, 2.50%, 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3341643 | &nbsp;&nbsp;&nbsp;&nbsp; 2863595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM8278, 3.50%, 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 276177 | &nbsp;&nbsp;&nbsp;&nbsp; 257108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BR2236, 2.50%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 216642 | &nbsp;&nbsp;&nbsp;&nbsp; 185473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BR2237, 2.50%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 429927 | &nbsp;&nbsp;&nbsp;&nbsp; 368377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB1276, 2.50%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 624247 | &nbsp;&nbsp;&nbsp;&nbsp; 534682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM8320, 2.50%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1342097 | &nbsp;&nbsp;&nbsp;&nbsp; 1144131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM8629, 1.50%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 959068 | &nbsp;&nbsp;&nbsp;&nbsp; 745967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM8730, 2.00%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 844294 | &nbsp;&nbsp;&nbsp;&nbsp; 687284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4413, 2.00%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 651401 | &nbsp;&nbsp;&nbsp;&nbsp; 533664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB2364, 2.00%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 4077035 | &nbsp;&nbsp;&nbsp;&nbsp; 3333457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM9868, 2.50%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 439862 | &nbsp;&nbsp;&nbsp;&nbsp; 380161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FM9870, 2.50%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 441765 | &nbsp;&nbsp;&nbsp;&nbsp; 381805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4493, 2.50%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 747107 | &nbsp;&nbsp;&nbsp;&nbsp; 639681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB2773, 2.00%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1662369 | &nbsp;&nbsp;&nbsp;&nbsp; 1359043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BV4248, 2.00%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 732493 | &nbsp;&nbsp;&nbsp;&nbsp; 609513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB3040, 2.00%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 4302634 | &nbsp;&nbsp;&nbsp;&nbsp; 3511656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4577, 2.00%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1325199 | &nbsp;&nbsp;&nbsp;&nbsp; 1083028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS1538, 3.00%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 392060 | &nbsp;&nbsp;&nbsp;&nbsp; 351019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB3608, 3.50%, 5/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 162398 | &nbsp;&nbsp;&nbsp;&nbsp; 150722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BV9900, 4.00%, 5/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 326774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4622, 2.00%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1538672 | &nbsp;&nbsp;&nbsp;&nbsp; 1258589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4624, 3.00%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 11367283 | &nbsp;&nbsp;&nbsp;&nbsp; 10118505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB4209, 3.50%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 845151 | &nbsp;&nbsp;&nbsp;&nbsp; 782702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4699, 3.50%, 8/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1686749 | &nbsp;&nbsp;&nbsp;&nbsp; 1562761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4700, 4.00%, 8/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2463862 | &nbsp;&nbsp;&nbsp;&nbsp; 2361366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4701, 4.50%, 8/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 807755 | &nbsp;&nbsp;&nbsp;&nbsp; 794434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS2619, 5.00%, 8/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 796355 | &nbsp;&nbsp;&nbsp;&nbsp; 800715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS3392, 4.00%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 769314 | &nbsp;&nbsp;&nbsp;&nbsp; 737310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4732, 4.00%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 411094 | &nbsp;&nbsp;&nbsp;&nbsp; 393949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4805, 4.50%, 11/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1763734 | &nbsp;&nbsp;&nbsp;&nbsp; 1734102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4840, 4.50%, 12/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 823722 | &nbsp;&nbsp;&nbsp;&nbsp; 809884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS3455, 5.00%, 12/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 719872 | &nbsp;&nbsp;&nbsp;&nbsp; 728434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4869, 5.50%, 1/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1131202 | &nbsp;&nbsp;&nbsp;&nbsp; 1150785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4933, 3.50%, 2/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1098002 | &nbsp;&nbsp;&nbsp;&nbsp; 1017063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4918, 5.00%, 2/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1584127 | &nbsp;&nbsp;&nbsp;&nbsp; 1588309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB5600, 5.50%, 2/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 792003 | &nbsp;&nbsp;&nbsp;&nbsp; 812614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4919, 5.50%, 2/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1498111 | &nbsp;&nbsp;&nbsp;&nbsp; 1519257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4920, 6.00%, 2/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1742819 | &nbsp;&nbsp;&nbsp;&nbsp; 1789326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4962, 4.00%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1726133 | &nbsp;&nbsp;&nbsp;&nbsp; 1651023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BX7958, 5.00%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 781709 | &nbsp;&nbsp;&nbsp;&nbsp; 788525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB5906, 5.50%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 235877 | &nbsp;&nbsp;&nbsp;&nbsp; 240150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4943, 6.50%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 646932 | &nbsp;&nbsp;&nbsp;&nbsp; 671819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4964, 7.00%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 243321 | &nbsp;&nbsp;&nbsp;&nbsp; 255410 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4979, 5.50%, 4/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 752348 | &nbsp;&nbsp;&nbsp;&nbsp; 765052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5038, 5.00%, 6/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 3152504 | &nbsp;&nbsp;&nbsp;&nbsp; 3162452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5071, 5.00%, 7/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1674095 | &nbsp;&nbsp;&nbsp;&nbsp; 1677910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5072, 5.50%, 7/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 5517311 | &nbsp;&nbsp;&nbsp;&nbsp; 5606652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB6874, 6.00%, 8/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 703535 | &nbsp;&nbsp;&nbsp;&nbsp; 725656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5108, 6.00%, 8/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 662900 | &nbsp;&nbsp;&nbsp;&nbsp; 680461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5138, 5.50%, 9/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 792690 | &nbsp;&nbsp;&nbsp;&nbsp; 804848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # DA4550, 6.50%, 11/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1709485 | &nbsp;&nbsp;&nbsp;&nbsp; 1775961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5192, 6.50%, 11/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 570801 | &nbsp;&nbsp;&nbsp;&nbsp; 591931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5217, 6.50%, 12/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 200060 | &nbsp;&nbsp;&nbsp;&nbsp; 207219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS6772, 7.00%, 1/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 279695 | &nbsp;&nbsp;&nbsp;&nbsp; 297515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # DB4019, 6.00%, 5/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 612352 | &nbsp;&nbsp;&nbsp;&nbsp; 630589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB8821, 6.00%, 7/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 780399 | &nbsp;&nbsp;&nbsp;&nbsp; 808654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5445, 6.00%, 8/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 557852 | &nbsp;&nbsp;&nbsp;&nbsp; 571208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5647, 6.00%, 3/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 3376143 | &nbsp;&nbsp;&nbsp;&nbsp; 3456978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # DE0123, 6.50%, 5/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 599996 | &nbsp;&nbsp;&nbsp;&nbsp; 622219 |
| &nbsp;&nbsp;&nbsp; FNMA/FHLMC UMBS, Single Family, 15 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 1.50%, 12/25/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1826000 | &nbsp;&nbsp;&nbsp;&nbsp; 1645206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 3.00%, 12/25/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 78000 | &nbsp;&nbsp;&nbsp;&nbsp; 75047 |
| &nbsp;&nbsp;&nbsp; FNMA/FHLMC UMBS, Single Family, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 3.00%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1309000 | &nbsp;&nbsp;&nbsp;&nbsp; 1162412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 3.50%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 195142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 4.00%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1052000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 4.50%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1742000 | &nbsp;&nbsp;&nbsp;&nbsp; 1705156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 5.00%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3727000 | &nbsp;&nbsp;&nbsp;&nbsp; 3719083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 5.50%, 12/25/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1526000 | &nbsp;&nbsp;&nbsp;&nbsp; 1545237 |
| &nbsp;&nbsp;&nbsp; GNMA I, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 726769, 5.00%, 9/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 10733 | &nbsp;&nbsp;&nbsp;&nbsp; 11037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 754439, 3.50%, 12/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 64766 | &nbsp;&nbsp;&nbsp;&nbsp; 61111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 784660, 4.00%, 4/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 4086 | &nbsp;&nbsp;&nbsp;&nbsp; 3982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AC2224, 3.50%, 6/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 34754 | &nbsp;&nbsp;&nbsp;&nbsp; 32662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AL9314, 3.00%, 3/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 29330 | &nbsp;&nbsp;&nbsp;&nbsp; 26621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 784664, 4.00%, 4/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 15459 | &nbsp;&nbsp;&nbsp;&nbsp; 15065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AO0544, 3.00%, 8/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 17300 | &nbsp;&nbsp;&nbsp;&nbsp; 15702 |
| &nbsp;&nbsp;&nbsp; GNMA II, 15 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA0513, 2.50%, 11/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 12764 | &nbsp;&nbsp;&nbsp;&nbsp; 12594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4625, 3.50%, 8/20/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 11665 | &nbsp;&nbsp;&nbsp;&nbsp; 11535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA6906, 2.50%, 10/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 235616 | &nbsp;&nbsp;&nbsp;&nbsp; 224129 |
| &nbsp;&nbsp;&nbsp; GNMA II, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 3459, 5.50%, 10/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 27848 | &nbsp;&nbsp;&nbsp;&nbsp; 28535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 3723, 5.00%, 6/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 619515 | &nbsp;&nbsp;&nbsp;&nbsp; 635748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4467, 4.00%, 6/20/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 8803 | &nbsp;&nbsp;&nbsp;&nbsp; 8571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4494, 4.00%, 7/20/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 9579 | &nbsp;&nbsp;&nbsp;&nbsp; 9401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4576, 4.00%, 11/20/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 4479 | &nbsp;&nbsp;&nbsp;&nbsp; 4358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4656, 4.00%, 3/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 7142 | &nbsp;&nbsp;&nbsp;&nbsp; 6985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4677, 4.00%, 4/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 19017 | &nbsp;&nbsp;&nbsp;&nbsp; 18642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4695, 4.00%, 5/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 2127 | &nbsp;&nbsp;&nbsp;&nbsp; 2085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4712, 4.00%, 6/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 3340 | &nbsp;&nbsp;&nbsp;&nbsp; 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4800, 4.00%, 9/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 3446 | &nbsp;&nbsp;&nbsp;&nbsp; 3363 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4945, 4.00%, 2/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 7379 | &nbsp;&nbsp;&nbsp;&nbsp; 7200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4950, 5.50%, 2/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 12169 | &nbsp;&nbsp;&nbsp;&nbsp; 12609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 4977, 4.00%, 3/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 13876 | &nbsp;&nbsp;&nbsp;&nbsp; 13540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5016, 4.00%, 4/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 5236 | &nbsp;&nbsp;&nbsp;&nbsp; 5109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5054, 4.00%, 5/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 8223 | &nbsp;&nbsp;&nbsp;&nbsp; 8024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5114, 4.00%, 7/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 1102 | &nbsp;&nbsp;&nbsp;&nbsp; 1075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5233, 4.00%, 11/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 1347 | &nbsp;&nbsp;&nbsp;&nbsp; 1314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5259, 4.00%, 12/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 5209 | &nbsp;&nbsp;&nbsp;&nbsp; 5082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5279, 3.50%, 1/20/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 15303 | &nbsp;&nbsp;&nbsp;&nbsp; 14573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 5330, 3.00%, 3/20/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 10348 | &nbsp;&nbsp;&nbsp;&nbsp; 9635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 783976, 3.50%, 4/20/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 15055 | &nbsp;&nbsp;&nbsp;&nbsp; 14293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA1376, 4.00%, 10/20/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 71687 | &nbsp;&nbsp;&nbsp;&nbsp; 69800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2678, 3.50%, 3/20/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 95684 | &nbsp;&nbsp;&nbsp;&nbsp; 89800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2679, 4.00%, 3/20/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 738979 | &nbsp;&nbsp;&nbsp;&nbsp; 716492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2753, 3.00%, 4/20/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 48615 | &nbsp;&nbsp;&nbsp;&nbsp; 44646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA2829, 5.00%, 5/20/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 17219 | &nbsp;&nbsp;&nbsp;&nbsp; 17672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 784119, 3.00%, 2/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 108607 | &nbsp;&nbsp;&nbsp;&nbsp; 99605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3458, 5.50%, 2/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 21524 | &nbsp;&nbsp;&nbsp;&nbsp; 22300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA3735, 3.00%, 6/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 197666 | &nbsp;&nbsp;&nbsp;&nbsp; 181211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4072, 5.00%, 11/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 17414 | &nbsp;&nbsp;&nbsp;&nbsp; 17936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4126, 3.00%, 12/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 39747 | &nbsp;&nbsp;&nbsp;&nbsp; 36368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4511, 4.00%, 6/20/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 120782 | &nbsp;&nbsp;&nbsp;&nbsp; 116782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4718, 3.00%, 9/20/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 5404 | &nbsp;&nbsp;&nbsp;&nbsp; 4938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4837, 3.50%, 11/20/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 5987869 | &nbsp;&nbsp;&nbsp;&nbsp; 5614633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5329, 3.50%, 7/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 5846 | &nbsp;&nbsp;&nbsp;&nbsp; 5441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5468, 5.00%, 9/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 4424 | &nbsp;&nbsp;&nbsp;&nbsp; 4500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5595, 4.00%, 11/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 27100 | &nbsp;&nbsp;&nbsp;&nbsp; 26108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5651, 4.00%, 12/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 130773 | &nbsp;&nbsp;&nbsp;&nbsp; 125982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5709, 3.50%, 1/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 62593 | &nbsp;&nbsp;&nbsp;&nbsp; 58579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5711, 4.50%, 1/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 4035977 | &nbsp;&nbsp;&nbsp;&nbsp; 4018580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA5985, 3.50%, 6/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 31640 | &nbsp;&nbsp;&nbsp;&nbsp; 29291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA6220, 4.00%, 10/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 136582 | &nbsp;&nbsp;&nbsp;&nbsp; 130512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA6283, 3.00%, 11/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 391875 | &nbsp;&nbsp;&nbsp;&nbsp; 354786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA6478, 5.00%, 2/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 17133 | &nbsp;&nbsp;&nbsp;&nbsp; 17471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA6542, 3.50%, 3/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 175124 | &nbsp;&nbsp;&nbsp;&nbsp; 162063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA6819, 2.50%, 8/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2910377 | &nbsp;&nbsp;&nbsp;&nbsp; 2530557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7051, 2.00%, 12/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1772098 | &nbsp;&nbsp;&nbsp;&nbsp; 1475696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7055, 4.00%, 12/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 172449 | &nbsp;&nbsp;&nbsp;&nbsp; 165656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7135, 2.00%, 1/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2021608 | &nbsp;&nbsp;&nbsp;&nbsp; 1683471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7417, 2.00%, 6/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2412208 | &nbsp;&nbsp;&nbsp;&nbsp; 2008710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7420, 3.50%, 6/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 315245 | &nbsp;&nbsp;&nbsp;&nbsp; 291499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7473, 3.00%, 7/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 385119 | &nbsp;&nbsp;&nbsp;&nbsp; 347832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7590, 3.00%, 9/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3650554 | &nbsp;&nbsp;&nbsp;&nbsp; 3297180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7704, 2.00%, 11/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 5069393 | &nbsp;&nbsp;&nbsp;&nbsp; 4221337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7705, 2.50%, 11/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 9077533 | &nbsp;&nbsp;&nbsp;&nbsp; 7881377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7766, 2.00%, 12/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1822920 | &nbsp;&nbsp;&nbsp;&nbsp; 1517958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA7988, 3.00%, 4/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2221860 | &nbsp;&nbsp;&nbsp;&nbsp; 2005280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8043, 3.00%, 5/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1924239 | &nbsp;&nbsp;&nbsp;&nbsp; 1736672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8267, 4.00%, 9/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 942766 | &nbsp;&nbsp;&nbsp;&nbsp; 901304 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8269, 5.00%, 9/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1171227 | &nbsp;&nbsp;&nbsp;&nbsp; 1176970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8270, 5.50%, 9/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 655748 | &nbsp;&nbsp;&nbsp;&nbsp; 667443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8346, 4.00%, 10/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1705590 | &nbsp;&nbsp;&nbsp;&nbsp; 1630932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8493, 6.50%, 12/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 146087 | &nbsp;&nbsp;&nbsp;&nbsp; 151394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8570, 5.50%, 1/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1857159 | &nbsp;&nbsp;&nbsp;&nbsp; 1889566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8800, 5.00%, 4/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1974676 | &nbsp;&nbsp;&nbsp;&nbsp; 1981306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8879, 5.50%, 5/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 2741326 | &nbsp;&nbsp;&nbsp;&nbsp; 2787277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA8947, 5.00%, 6/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1657374 | &nbsp;&nbsp;&nbsp;&nbsp; 1663696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA9019, 6.50%, 7/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 323711 | &nbsp;&nbsp;&nbsp;&nbsp; 334842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA9105, 5.00%, 8/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1691452 | &nbsp;&nbsp;&nbsp;&nbsp; 1695475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA9173, 6.50%, 9/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 455411 | &nbsp;&nbsp;&nbsp;&nbsp; 470818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA9365, 7.00%, 12/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 656426 | &nbsp;&nbsp;&nbsp;&nbsp; 680137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA9907, 6.00%, 9/20/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 3946480 | &nbsp;&nbsp;&nbsp;&nbsp; 4029720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MB0309, 6.00%, 4/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 1594223 | &nbsp;&nbsp;&nbsp;&nbsp; 1625889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MB0368, 6.50%, 5/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 1429807 | &nbsp;&nbsp;&nbsp;&nbsp; 1475356 |
| &nbsp;&nbsp;&nbsp; GNMA II, Single Family, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 2.50%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 606000 | &nbsp;&nbsp;&nbsp;&nbsp; 525822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 3.00%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 556000 | &nbsp;&nbsp;&nbsp;&nbsp; 501555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 3.50%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1161000 | &nbsp;&nbsp;&nbsp;&nbsp; 1064174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 4.00%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1986000 | &nbsp;&nbsp;&nbsp;&nbsp; 1882721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 4.50%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1639000 | &nbsp;&nbsp;&nbsp;&nbsp; 1602795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 5.00%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 732000 | &nbsp;&nbsp;&nbsp;&nbsp; 731120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 5.50%, 12/15/2055 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3642000 | &nbsp;&nbsp;&nbsp;&nbsp; 3677974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 5.50%, 1/15/2056 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 151347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mortgage-Backed Securities <br>(Cost $323,335,658)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 314043714 |
| **Corporate Bonds — 23.9%** | **Corporate Bonds — 23.9%** | **Corporate Bonds — 23.9%** |
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| &nbsp;&nbsp;&nbsp; Boeing Co. (The)  | &nbsp;&nbsp;&nbsp; Boeing Co. (The)  | &nbsp;&nbsp;&nbsp; Boeing Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 131000 | &nbsp;&nbsp;&nbsp;&nbsp; 130326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1143000 | &nbsp;&nbsp;&nbsp;&nbsp; 1119158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 5/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 637000 | &nbsp;&nbsp;&nbsp;&nbsp; 581128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 3/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 1226000 | &nbsp;&nbsp;&nbsp;&nbsp; 1037864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 24438 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp.  | &nbsp;&nbsp;&nbsp; General Dynamics Corp.  | &nbsp;&nbsp;&nbsp; General Dynamics Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 6/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 7611 |
| &nbsp;&nbsp;&nbsp; Leidos, Inc. 4.38%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 454000 | &nbsp;&nbsp;&nbsp;&nbsp; 454190 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp.  | &nbsp;&nbsp;&nbsp; Lockheed Martin Corp.  | &nbsp;&nbsp;&nbsp; Lockheed Martin Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 3/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1748000 | &nbsp;&nbsp;&nbsp;&nbsp; 1625317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, 6.15%, 9/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 16816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 5/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9186 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp.  | &nbsp;&nbsp;&nbsp; Northrop Grumman Corp.  | &nbsp;&nbsp;&nbsp; Northrop Grumman Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.03%, 10/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 16376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 6/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 115567 |
| &nbsp;&nbsp;&nbsp; Precision Castparts Corp. 4.38%, 6/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 29432 |
| &nbsp;&nbsp;&nbsp; RTX Corp.  | &nbsp;&nbsp;&nbsp; RTX Corp.  | &nbsp;&nbsp;&nbsp; RTX Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 12015 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Aerospace & Defense — continued** | **Aerospace & Defense — continued** | **Aerospace & Defense — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 9549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 796000 | &nbsp;&nbsp;&nbsp;&nbsp; 528167 |
| &nbsp;&nbsp;&nbsp; Textron, Inc. 3.65%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 454000 | &nbsp;&nbsp;&nbsp;&nbsp; 451303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6274617 |
| **Air Freight & Logistics — 0.2%** | **Air Freight & Logistics — 0.2%** | **Air Freight & Logistics — 0.2%** |
| &nbsp;&nbsp;&nbsp; FedEx Corp.  | &nbsp;&nbsp;&nbsp; FedEx Corp.  | &nbsp;&nbsp;&nbsp; FedEx Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 8/5/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 274000 | &nbsp;&nbsp;&nbsp;&nbsp; 263897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 637000 | &nbsp;&nbsp;&nbsp;&nbsp; 642095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 8557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 4/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 42270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 1/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 110887 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc.  | &nbsp;&nbsp;&nbsp; United Parcel Service, Inc.  | &nbsp;&nbsp;&nbsp; United Parcel Service, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 316268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 1/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 151354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 589000 | &nbsp;&nbsp;&nbsp;&nbsp; 479611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 9/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 429330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 5/22/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2542809 |
| **Automobile Components — 0.0% ^** | **Automobile Components — 0.0% ^** | **Automobile Components — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Aptiv Swiss Holdings Ltd. 3.10%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 814000 | &nbsp;&nbsp;&nbsp;&nbsp; 530103 |
| &nbsp;&nbsp;&nbsp; BorgWarner, Inc. 2.65%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9790 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 539893 |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| &nbsp;&nbsp;&nbsp; General Motors Co.  | &nbsp;&nbsp;&nbsp; General Motors Co.  | &nbsp;&nbsp;&nbsp; General Motors Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 414900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 4/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 547000 | &nbsp;&nbsp;&nbsp;&nbsp; 531012 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. (Japan) 2.76%, 7/2/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 115157 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1061069 |
| **Banks — 3.7%** | **Banks — 3.7%** | **Banks — 3.7%** |
| &nbsp;&nbsp;&nbsp; Banco Santander SA (Spain) | &nbsp;&nbsp;&nbsp; Banco Santander SA (Spain) | &nbsp;&nbsp;&nbsp; Banco Santander SA (Spain) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 6/27/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 1/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/3/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 365242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 210790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 8/8/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 446424 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp.  | &nbsp;&nbsp;&nbsp; Bank of America Corp.  | &nbsp;&nbsp;&nbsp; Bank of America Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 417000 | &nbsp;&nbsp;&nbsp;&nbsp; 417564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.05%), 2.55%, 2/4/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp; 287848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.77%), 3.71%, 4/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 572097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.63%), 3.59%, 7/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 752000 | &nbsp;&nbsp;&nbsp;&nbsp; 746119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 2.09%, 6/14/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp;&nbsp; 914418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.47%), 3.97%, 2/7/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 693000 | &nbsp;&nbsp;&nbsp;&nbsp; 689860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1604000 | &nbsp;&nbsp;&nbsp;&nbsp; 1479129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.57%, 4/27/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 487000 | &nbsp;&nbsp;&nbsp;&nbsp; 489139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 5.02%, 7/22/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 246790 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Banks — continued** | **Banks — continued** | **Banks — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.52%, 10/25/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 24799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 3.85%, 3/8/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 327235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/21/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 1937000 | &nbsp;&nbsp;&nbsp;&nbsp; 1907526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), 2.83%, 10/24/2051 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 540559 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) (Canada) | &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) (Canada) | &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 306000 | &nbsp;&nbsp;&nbsp;&nbsp; 315533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 2/2/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 224000 | &nbsp;&nbsp;&nbsp;&nbsp; 200504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 4.59%, 5/4/2037 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 126979 |
| &nbsp;&nbsp;&nbsp; BankUnited, Inc. 5.13%, 6/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50170 |
| &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 5/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1361000 | &nbsp;&nbsp;&nbsp;&nbsp; 1369178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.00%), 5.75%, 8/9/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 754000 | &nbsp;&nbsp;&nbsp;&nbsp; 796199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.34%, 9/10/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 255581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 1/10/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 362476 |
| &nbsp;&nbsp;&nbsp; BPCE SA (France) 3.38%, 12/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 258427 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc.  | &nbsp;&nbsp;&nbsp; Citigroup, Inc.  | &nbsp;&nbsp;&nbsp; Citigroup, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.64%, 5/7/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 75557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.65%), 3.67%, 7/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 259000 | &nbsp;&nbsp;&nbsp;&nbsp; 257251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 139031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 4.79%, 3/4/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.60%), 3.98%, 3/20/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 739000 | &nbsp;&nbsp;&nbsp;&nbsp; 733602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.91%), 4.41%, 3/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 769000 | &nbsp;&nbsp;&nbsp;&nbsp; 770471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 2.57%, 6/3/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1812000 | &nbsp;&nbsp;&nbsp;&nbsp; 1682501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), 3.79%, 3/17/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 38000 | &nbsp;&nbsp;&nbsp;&nbsp; 36367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%), 4.91%, 5/24/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.34%), 6.27%, 11/17/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1025000 | &nbsp;&nbsp;&nbsp;&nbsp; 1123110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/30/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 43000 | &nbsp;&nbsp;&nbsp;&nbsp; 45699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 2.10%), 4.28%, 4/24/2048 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1110000 | &nbsp;&nbsp;&nbsp;&nbsp; 946766 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA (Netherlands) 5.25%, 8/4/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 349000 | &nbsp;&nbsp;&nbsp;&nbsp; 334807 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp 8.25%, 3/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 413692 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Capital I 6.35%, 2/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 106716 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) | &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) | &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 2.01%, 9/22/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 245453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.97%), 6.16%, 3/9/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1147000 | &nbsp;&nbsp;&nbsp;&nbsp; 1195094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.80%), 4.58%, 6/19/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 213972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.39%), 2.85%, 6/4/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1563000 | &nbsp;&nbsp;&nbsp;&nbsp; 1464092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.98%), 6.55%, 6/20/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 328273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 5.45%, 3/3/2036 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 877000 | &nbsp;&nbsp;&nbsp;&nbsp; 911035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/2/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 687000 | &nbsp;&nbsp;&nbsp;&nbsp; 745590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 2.49%, <br> 8/15/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1367000 | &nbsp;&nbsp;&nbsp;&nbsp; 1183485 |
| &nbsp;&nbsp;&nbsp; Korea Development Bank (The) (South Korea) 4.38%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202182 |
| &nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau (Germany) | &nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau (Germany) | &nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau (Germany) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 277000 | &nbsp;&nbsp;&nbsp;&nbsp; 279387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 78008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 9/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 144949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 4/18/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 918000 | &nbsp;&nbsp;&nbsp;&nbsp; 599648 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Banks — continued** | **Banks — continued** | **Banks — continued** |
| &nbsp;&nbsp;&nbsp; Landwirtschaftliche Rentenbank (Germany) 0.88%, 9/3/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 105598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.50%), <br> 3.37%, 12/14/2046 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp; 151849 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. (SOFR + 1.85%), 5.05%, 1/27/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1362000 | &nbsp;&nbsp;&nbsp;&nbsp; 1374370 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. (Japan) 3.75%, 7/18/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 662531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. (Japan) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 2.26%, <br> 7/9/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2820000 | &nbsp;&nbsp;&nbsp;&nbsp; 2512840 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank NA (SOFR + 0.68%), 4.45%, 10/15/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 260801 |
| &nbsp;&nbsp;&nbsp; National Australia Bank Ltd. (Australia) 3.91%, 6/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1098000 | &nbsp;&nbsp;&nbsp;&nbsp; 1099647 |
| &nbsp;&nbsp;&nbsp; Oesterreichische Kontrollbank AG (Austria) 4.75%, 5/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 18280 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) (SOFR + 1.93%), 5.07%, 1/24/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 349053 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. 1.80%, 8/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 706329 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 11/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 462449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/4/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 322046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 5.15%, 2/4/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 123881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/4/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 141314 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (SOFR + 2.36%), 6.50%, 3/9/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 988000 | &nbsp;&nbsp;&nbsp;&nbsp; 1029747 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings plc (United Kingdom) (3-MONTH SOFR + 1.40%), 3.82%, 11/3/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198430 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) | &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) | &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 6/8/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 378000 | &nbsp;&nbsp;&nbsp;&nbsp; 378678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 3/10/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 28991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.50%), 5.15%, 9/10/2034 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp;&nbsp; 105661 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp.  | &nbsp;&nbsp;&nbsp; Truist Financial Corp.  | &nbsp;&nbsp;&nbsp; Truist Financial Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 88064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.24%), 4.92%, 7/28/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 95213 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 7/22/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1254000 | &nbsp;&nbsp;&nbsp;&nbsp; 1259376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 2.39%, 6/2/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2453000 | &nbsp;&nbsp;&nbsp;&nbsp; 2393318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 1/24/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.43%), 2.88%, 10/30/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2667000 | &nbsp;&nbsp;&nbsp;&nbsp; 2542568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.26%), 2.57%, 2/11/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 168603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 3.35%, 3/2/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.99%), 5.56%, 7/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 547000 | &nbsp;&nbsp;&nbsp;&nbsp; 578540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 5/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 661208 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. (Australia) | &nbsp;&nbsp;&nbsp; Westpac Banking Corp. (Australia) | &nbsp;&nbsp;&nbsp; Westpac Banking Corp. (Australia) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 11/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1551000 | &nbsp;&nbsp;&nbsp;&nbsp; 1470761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 4.11%, 7/24/2034 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 181255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.53%), 3.02%, 11/18/2036 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 122148 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 48121199 |
| **Beverages — 0.4%** | **Beverages — 0.4%** | **Beverages — 0.4%** |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch Cos. LLC (Belgium) 4.70%, 2/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 89046 |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc. (Belgium) | &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc. (Belgium) | &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc. (Belgium) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 47054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 162581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 1/23/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 441683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 494000 | &nbsp;&nbsp;&nbsp;&nbsp; 513608 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Beverages — continued** | **Beverages — continued** | **Beverages — continued** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. (The)  | &nbsp;&nbsp;&nbsp; Coca-Cola Co. (The)  | &nbsp;&nbsp;&nbsp; Coca-Cola Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp;&nbsp; 100635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1184000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 6/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 53522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 6/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1564000 | &nbsp;&nbsp;&nbsp;&nbsp; 991376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 6/1/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 60301 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Femsa SAB de CV (Mexico) 1.85%, 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1085000 | &nbsp;&nbsp;&nbsp;&nbsp; 913845 |
| &nbsp;&nbsp;&nbsp; Keurig Dr. Pepper, Inc. 3.95%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 556000 | &nbsp;&nbsp;&nbsp;&nbsp; 549343 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc.  | &nbsp;&nbsp;&nbsp; PepsiCo, Inc.  | &nbsp;&nbsp;&nbsp; PepsiCo, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 3/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 159853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 66000 | &nbsp;&nbsp;&nbsp;&nbsp; 59885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/6/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 292623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5508490 |
| **Biotechnology — 0.5%** | **Biotechnology — 0.5%** | **Biotechnology — 0.5%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc.  | &nbsp;&nbsp;&nbsp; AbbVie, Inc.  | &nbsp;&nbsp;&nbsp; AbbVie, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 624000 | &nbsp;&nbsp;&nbsp;&nbsp; 618310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/14/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 104248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 506000 | &nbsp;&nbsp;&nbsp;&nbsp; 457593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 846000 | &nbsp;&nbsp;&nbsp;&nbsp; 782638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 6/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 649000 | &nbsp;&nbsp;&nbsp;&nbsp; 613315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 5/14/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 21000 | &nbsp;&nbsp;&nbsp;&nbsp; 18601 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc.  | &nbsp;&nbsp;&nbsp; Amgen, Inc.  | &nbsp;&nbsp;&nbsp; Amgen, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 8/19/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 641094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 2/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1304000 | &nbsp;&nbsp;&nbsp;&nbsp; 1183686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 8/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 22210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 24898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 784267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 6/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 13061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 1/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 11952 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc.  | &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc.  | &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 393000 | &nbsp;&nbsp;&nbsp;&nbsp; 388856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 9/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 821000 | &nbsp;&nbsp;&nbsp;&nbsp; 819326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 591000 | &nbsp;&nbsp;&nbsp;&nbsp; 556181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 4/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 32803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 13857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 3/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 50719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 9736 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. 2.80%, 9/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 6905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7164155 |
| **Broadline Retail — 0.2%** | **Broadline Retail — 0.2%** | **Broadline Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. (China) | &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. (China) | &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. (China) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 2/9/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 181947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/9/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 269000 | &nbsp;&nbsp;&nbsp;&nbsp; 179700 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.  | &nbsp;&nbsp;&nbsp; Amazon.com, Inc.  | &nbsp;&nbsp;&nbsp; Amazon.com, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 8/22/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 724000 | &nbsp;&nbsp;&nbsp;&nbsp; 717691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 8/22/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 1366000 | &nbsp;&nbsp;&nbsp;&nbsp; 1149063 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Broadline Retail — continued** | **Broadline Retail — continued** | **Broadline Retail — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 6/3/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 568000 | &nbsp;&nbsp;&nbsp;&nbsp; 330341 |
| &nbsp;&nbsp;&nbsp; eBay, Inc. 4.00%, 7/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 333588 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2892330 |
| **Building Products — 0.2%** | **Building Products — 0.2%** | **Building Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. 2.20%, 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 102113 |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp.  | &nbsp;&nbsp;&nbsp; Carrier Global Corp.  | &nbsp;&nbsp;&nbsp; Carrier Global Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp; 315154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 4/5/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 32997 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. 4.00%, 3/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 26876 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International plc  | &nbsp;&nbsp;&nbsp; Johnson Controls International plc  | &nbsp;&nbsp;&nbsp; Johnson Controls International plc  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 287000 | &nbsp;&nbsp;&nbsp;&nbsp; 256808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 9/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 174000 | &nbsp;&nbsp;&nbsp;&nbsp; 153479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 529000 | &nbsp;&nbsp;&nbsp;&nbsp; 462974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 7/2/2064 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 443673 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. 5.50%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 113894 |
| &nbsp;&nbsp;&nbsp; Masco Corp. 3.13%, 2/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 86272 |
| &nbsp;&nbsp;&nbsp; Owens Corning 4.30%, 7/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp; 130134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2124374 |
| **Capital Markets — 1.8%** | **Capital Markets — 1.8%** | **Capital Markets — 1.8%** |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. 5.50%, 8/20/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102702 |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. 2.15%, 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 497000 | &nbsp;&nbsp;&nbsp;&nbsp; 489613 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The) Series J, (SOFR + 1.61%), 4.97%, 4/26/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2171000 | &nbsp;&nbsp;&nbsp;&nbsp; 2226284 |
| &nbsp;&nbsp;&nbsp; Blackstone Private Credit Fund 3.25%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 328148 |
| &nbsp;&nbsp;&nbsp; Blue Owl Finance LLC 4.13%, 10/7/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 54000 | &nbsp;&nbsp;&nbsp;&nbsp; 37617 |
| &nbsp;&nbsp;&nbsp; Brookfield Finance, Inc. (Canada) 4.35%, 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10042 |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. 1.63%, 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 9755 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) 2.00%, 3/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 131000 | &nbsp;&nbsp;&nbsp;&nbsp; 125813 |
| &nbsp;&nbsp;&nbsp; CI Financial Corp. (Canada) 3.20%, 12/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp; 672202 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. 4.15%, 6/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 76984 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) | &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) | &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.31%, 11/16/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 255290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 5/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 166576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.51%), 6.82%, 11/20/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 444437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.76%), 3.73%, 1/14/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 246441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.65%), 7.08%, 2/10/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 444000 | &nbsp;&nbsp;&nbsp;&nbsp; 488004 |
| &nbsp;&nbsp;&nbsp; Franklin Resources, Inc. 1.60%, 10/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 36000 | &nbsp;&nbsp;&nbsp;&nbsp; 31846 |
| &nbsp;&nbsp;&nbsp; FS KKR Capital Corp. 3.13%, 10/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 376000 | &nbsp;&nbsp;&nbsp;&nbsp; 348172 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 2.64%, 2/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2101000 | &nbsp;&nbsp;&nbsp;&nbsp; 2063330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 4.94%, 4/23/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.42%), 3.81%, 4/23/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 164852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.56%), 4.22%, 5/1/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 203403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 2.38%, 7/21/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2854000 | &nbsp;&nbsp;&nbsp;&nbsp; 2565628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 3.10%, 2/24/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 954000 | &nbsp;&nbsp;&nbsp;&nbsp; 882748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), 3.44%, 2/24/2043 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 154354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/21/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 23897 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. 4.25%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 76000 | &nbsp;&nbsp;&nbsp;&nbsp; 76450 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Capital Markets — continued** | **Capital Markets — continued** | **Capital Markets — continued** |
| &nbsp;&nbsp;&nbsp; Morgan Stanley  | &nbsp;&nbsp;&nbsp; Morgan Stanley  | &nbsp;&nbsp;&nbsp; Morgan Stanley  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.86%), 1.51%, 7/20/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1937000 | &nbsp;&nbsp;&nbsp;&nbsp; 1904854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.00%), 2.48%, 1/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 367000 | &nbsp;&nbsp;&nbsp;&nbsp; 360389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 7/22/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1024000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 2.70%, 1/22/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 936000 | &nbsp;&nbsp;&nbsp;&nbsp; 879781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 1.93%, 4/28/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2659000 | &nbsp;&nbsp;&nbsp;&nbsp; 2341025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 7/22/2038 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 81884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.80%), 5.94%, 2/7/2039 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.69%), 4.46%, 4/22/2039 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 233881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.43%), 2.80%, 1/25/2052 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 233079 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Direct Lending Fund 6.15%, 5/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 87671 |
| &nbsp;&nbsp;&nbsp; Nasdaq, Inc. 6.10%, 6/28/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 704000 | &nbsp;&nbsp;&nbsp;&nbsp; 738794 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. (Japan) 2.71%, 1/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1032000 | &nbsp;&nbsp;&nbsp;&nbsp; 986304 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp.  | &nbsp;&nbsp;&nbsp; Northern Trust Corp.  | &nbsp;&nbsp;&nbsp; Northern Trust Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 5/3/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp; 106312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH SOFR + 1.13%), 3.38%, 5/8/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 354206 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc.  | &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc.  | &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 7/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 207790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 4/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 135722 |
| &nbsp;&nbsp;&nbsp; Stifel Financial Corp. 4.00%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 867974 |
| &nbsp;&nbsp;&nbsp; UBS AG (Switzerland) | &nbsp;&nbsp;&nbsp; UBS AG (Switzerland) | &nbsp;&nbsp;&nbsp; UBS AG (Switzerland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 344000 | &nbsp;&nbsp;&nbsp;&nbsp; 339236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 8/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 739000 | &nbsp;&nbsp;&nbsp;&nbsp; 725905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 23870994 |
| **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
| &nbsp;&nbsp;&nbsp; Dow Chemical Co. (The)  | &nbsp;&nbsp;&nbsp; Dow Chemical Co. (The)  | &nbsp;&nbsp;&nbsp; Dow Chemical Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 439666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 749000 | &nbsp;&nbsp;&nbsp;&nbsp; 686658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 61148 |
| &nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc.  | &nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc.  | &nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 11/15/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 200655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 11/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 89803 |
| &nbsp;&nbsp;&nbsp; Eastman Chemical Co. 5.75%, 3/8/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 92417 |
| &nbsp;&nbsp;&nbsp; EIDP, Inc. 4.80%, 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 418000 | &nbsp;&nbsp;&nbsp;&nbsp; 420196 |
| &nbsp;&nbsp;&nbsp; FMC Corp. 3.45%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 330718 |
| &nbsp;&nbsp;&nbsp; LYB International Finance III LLC 3.80%, 10/1/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 55958 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. (The)  | &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. (The)  | &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 124453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 548000 | &nbsp;&nbsp;&nbsp;&nbsp; 475524 |
| &nbsp;&nbsp;&nbsp; Westlake Corp. 4.38%, 11/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 78145 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3055341 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| &nbsp;&nbsp;&nbsp; RELX Capital, Inc. (United Kingdom) | &nbsp;&nbsp;&nbsp; RELX Capital, Inc. (United Kingdom) | &nbsp;&nbsp;&nbsp; RELX Capital, Inc. (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/22/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 144611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 5/20/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 97000 | &nbsp;&nbsp;&nbsp;&nbsp; 99103 |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. 2.38%, 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1256000 | &nbsp;&nbsp;&nbsp;&nbsp; 1102908 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Commercial Services & Supplies — continued** | **Commercial Services & Supplies — continued** | **Commercial Services & Supplies — continued** |
| &nbsp;&nbsp;&nbsp; Waste Connections, Inc. 2.95%, 1/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp; 244420 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc.  | &nbsp;&nbsp;&nbsp; Waste Management, Inc.  | &nbsp;&nbsp;&nbsp; Waste Management, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 65586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 220809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 466834 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2344271 |
| **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc.  | &nbsp;&nbsp;&nbsp; Cisco Systems, Inc.  | &nbsp;&nbsp;&nbsp; Cisco Systems, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 2/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 128533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 2/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 853000 | &nbsp;&nbsp;&nbsp;&nbsp; 930098 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. 5.60%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 42157 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1100788 |
| **Construction Materials — 0.0% ^** | **Construction Materials — 0.0% ^** | **Construction Materials — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. 4.70%, 3/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 122000 | &nbsp;&nbsp;&nbsp;&nbsp; 109142 |
| **Consumer Finance — 1.1%** | **Consumer Finance — 1.1%** | **Consumer Finance — 1.1%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC (Ireland) | &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC (Ireland) | &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC (Ireland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 7/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 566000 | &nbsp;&nbsp;&nbsp;&nbsp; 561610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 1/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1351000 | &nbsp;&nbsp;&nbsp;&nbsp; 1252697 |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. 2.20%, 11/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 634520 |
| &nbsp;&nbsp;&nbsp; American Express Co.  | &nbsp;&nbsp;&nbsp; American Express Co.  | &nbsp;&nbsp;&nbsp; American Express Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 11/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1749000 | &nbsp;&nbsp;&nbsp;&nbsp; 1713575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.97%), 5.39%, 7/28/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 181546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.76%), 4.42%, 8/3/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.93%), 5.63%, 7/28/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 273157 |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp.  | &nbsp;&nbsp;&nbsp; American Honda Finance Corp.  | &nbsp;&nbsp;&nbsp; American Honda Finance Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 3/24/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 91713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 1/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 36000 | &nbsp;&nbsp;&nbsp;&nbsp; 34041 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp.  | &nbsp;&nbsp;&nbsp; Capital One Financial Corp.  | &nbsp;&nbsp;&nbsp; Capital One Financial Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 7/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1172000 | &nbsp;&nbsp;&nbsp;&nbsp; 1168334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp; 305295 |
| &nbsp;&nbsp;&nbsp; Caterpillar Financial Services Corp. 1.10%, 9/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1342000 | &nbsp;&nbsp;&nbsp;&nbsp; 1281962 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC  | &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC  | &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 5/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 520972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 2/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2117000 | &nbsp;&nbsp;&nbsp;&nbsp; 1980139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 6/10/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 10/31/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 846310 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc.  | &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc.  | &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 6/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp; 428658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1488000 | &nbsp;&nbsp;&nbsp;&nbsp; 1418397 |
| &nbsp;&nbsp;&nbsp; John Deere Capital Corp.  | &nbsp;&nbsp;&nbsp; John Deere Capital Corp.  | &nbsp;&nbsp;&nbsp; John Deere Capital Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 1/6/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 4/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 316503 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial  | &nbsp;&nbsp;&nbsp; Synchrony Financial  | &nbsp;&nbsp;&nbsp; Synchrony Financial  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 3/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 35563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 103772 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp.  | &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp.  | &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 81229 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Consumer Finance — continued** | **Consumer Finance — continued** | **Consumer Finance — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 8/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 852000 | &nbsp;&nbsp;&nbsp;&nbsp; 814739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 1/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 504000 | &nbsp;&nbsp;&nbsp;&nbsp; 495764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 5/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 52000 | &nbsp;&nbsp;&nbsp;&nbsp; 53060 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14867577 |
| **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp; Kroger Co. (The)  | &nbsp;&nbsp;&nbsp; Kroger Co. (The)  | &nbsp;&nbsp;&nbsp; Kroger Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 7/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 143000 | &nbsp;&nbsp;&nbsp;&nbsp; 144958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 9/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 126458 |
| &nbsp;&nbsp;&nbsp; Target Corp. 2.95%, 1/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1887000 | &nbsp;&nbsp;&nbsp;&nbsp; 1226165 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc.  | &nbsp;&nbsp;&nbsp; Walmart, Inc.  | &nbsp;&nbsp;&nbsp; Walmart, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 9/22/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 336000 | &nbsp;&nbsp;&nbsp;&nbsp; 317309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 9/9/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 111450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 9/22/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 22474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1948814 |
| **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
| &nbsp;&nbsp;&nbsp; Berry Global, Inc. 5.80%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 608000 | &nbsp;&nbsp;&nbsp;&nbsp; 644471 |
| &nbsp;&nbsp;&nbsp; International Paper Co. 5.15%, 5/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 228000 | &nbsp;&nbsp;&nbsp;&nbsp; 212371 |
| &nbsp;&nbsp;&nbsp; WestRock MWV LLC 7.95%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 30037 |
| &nbsp;&nbsp;&nbsp; WRKCo, Inc. 3.00%, 6/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 697000 | &nbsp;&nbsp;&nbsp;&nbsp; 623368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1510247 |
| **Diversified Consumer Services — 0.2%** | **Diversified Consumer Services — 0.2%** | **Diversified Consumer Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Case Western Reserve University Series 22-C, 5.41%, 6/1/2122 | &nbsp;&nbsp;&nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 30341 |
| &nbsp;&nbsp;&nbsp; Georgetown University (The) Series A, 5.22%, 10/1/2118 | &nbsp;&nbsp;&nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp; 266613 |
| &nbsp;&nbsp;&nbsp; Thomas Jefferson University 3.85%, 11/1/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 336000 | &nbsp;&nbsp;&nbsp;&nbsp; 241351 |
| &nbsp;&nbsp;&nbsp; Trustees of the University of Pennsylvania (The) 3.61%, 2/15/2119 | &nbsp;&nbsp;&nbsp;&nbsp; 2044000 | &nbsp;&nbsp;&nbsp;&nbsp; 1337983 |
| &nbsp;&nbsp;&nbsp; University of Chicago (The) Series C, 2.55%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 52000 | &nbsp;&nbsp;&nbsp;&nbsp; 34253 |
| &nbsp;&nbsp;&nbsp; University of Miami Series 2022, 4.06%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 581000 | &nbsp;&nbsp;&nbsp;&nbsp; 475915 |
| &nbsp;&nbsp;&nbsp; Washington University (The) 4.35%, 4/15/2122 | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 63789 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2450245 |
| **Diversified REITs — 0.0% ^** | **Diversified REITs — 0.0% ^** | **Diversified REITs — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; American Assets Trust LP 3.38%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 45818 |
| &nbsp;&nbsp;&nbsp; Simon Property Group LP 3.38%, 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 259000 | &nbsp;&nbsp;&nbsp;&nbsp; 257072 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 302890 |
| **Diversified Telecommunication Services — 0.6%** | **Diversified Telecommunication Services — 0.6%** | **Diversified Telecommunication Services — 0.6%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc.  | &nbsp;&nbsp;&nbsp; AT&T, Inc.  | &nbsp;&nbsp;&nbsp; AT&T, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 432720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 88515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 121667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 40582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 589000 | &nbsp;&nbsp;&nbsp;&nbsp; 572582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 8/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 194971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 3/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp; 314997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 8/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 51000 | &nbsp;&nbsp;&nbsp;&nbsp; 53788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 9/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 97000 | &nbsp;&nbsp;&nbsp;&nbsp; 96606 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 8/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 13141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 2/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 19344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 6/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 12628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/9/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 12650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 9/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 102659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/1/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp; 114366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 6/1/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 182000 | &nbsp;&nbsp;&nbsp;&nbsp; 129105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/1/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 55595 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom International Finance BV (Germany) 9.25%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 170400 |
| &nbsp;&nbsp;&nbsp; Orange SA (France) 5.38%, 1/13/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 209000 | &nbsp;&nbsp;&nbsp;&nbsp; 207272 |
| &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA (Spain) | &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA (Spain) | &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA (Spain) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 3/8/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 161721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 6/20/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 29000 | &nbsp;&nbsp;&nbsp;&nbsp; 32723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 3/6/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 1702000 | &nbsp;&nbsp;&nbsp;&nbsp; 1568142 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. (Canada) 3.40%, 5/13/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1047000 | &nbsp;&nbsp;&nbsp;&nbsp; 967627 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc.  | &nbsp;&nbsp;&nbsp; Verizon Communications, Inc.  | &nbsp;&nbsp;&nbsp; Verizon Communications, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/8/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 56000 | &nbsp;&nbsp;&nbsp;&nbsp; 55716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.68%, 10/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 75329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 1/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1004000 | &nbsp;&nbsp;&nbsp;&nbsp; 886867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 647000 | &nbsp;&nbsp;&nbsp;&nbsp; 571828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 50579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 8/21/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 33297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/20/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 202767 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7457662 |
| **Electric Utilities — 1.7%** | **Electric Utilities — 1.7%** | **Electric Utilities — 1.7%** |
| &nbsp;&nbsp;&nbsp; AEP Texas, Inc. 5.25%, 5/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 12084 |
| &nbsp;&nbsp;&nbsp; Alabama Power Co.  | &nbsp;&nbsp;&nbsp; Alabama Power Co.  | &nbsp;&nbsp;&nbsp; Alabama Power Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, 3.70%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 55741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 291275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 7/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 209408 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc.  | &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc.  | &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 378811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 76118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.75%), 7.05%, 12/15/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10496 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas and Electric Co. 3.75%, 8/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 207054 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Houston Electric LLC  | &nbsp;&nbsp;&nbsp; CenterPoint Energy Houston Electric LLC  | &nbsp;&nbsp;&nbsp; CenterPoint Energy Houston Electric LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 10/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 75396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ai., 4.45%, 10/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K2, 6.95%, 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 17115 |
| &nbsp;&nbsp;&nbsp; Connecticut Light and Power Co. (The) 5.25%, 1/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp; 152110 |
| &nbsp;&nbsp;&nbsp; Dominion Energy South Carolina, Inc. 5.10%, 6/1/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 946000 | &nbsp;&nbsp;&nbsp;&nbsp; 861573 |
| &nbsp;&nbsp;&nbsp; DTE Electric Co.  | &nbsp;&nbsp;&nbsp; DTE Electric Co.  | &nbsp;&nbsp;&nbsp; DTE Electric Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 3/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 7/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 83000 | &nbsp;&nbsp;&nbsp;&nbsp; 72374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 517000 | &nbsp;&nbsp;&nbsp;&nbsp; 404262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 3/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 193693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 16958 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Electric Utilities — continued** | **Electric Utilities — continued** | **Electric Utilities — continued** |
| &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC  | &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC  | &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 41000 | &nbsp;&nbsp;&nbsp;&nbsp; 38550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 33362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 547000 | &nbsp;&nbsp;&nbsp;&nbsp; 423252 |
| &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC  | &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC  | &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 12/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 271319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 6/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 2144000 | &nbsp;&nbsp;&nbsp;&nbsp; 2425605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 32793 |
| &nbsp;&nbsp;&nbsp; Duke Energy Indiana LLC  | &nbsp;&nbsp;&nbsp; Duke Energy Indiana LLC  | &nbsp;&nbsp;&nbsp; Duke Energy Indiana LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 8/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 11172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 19049 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC 4.15%, 12/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84809 |
| &nbsp;&nbsp;&nbsp; Edison International 5.25%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1838000 | &nbsp;&nbsp;&nbsp;&nbsp; 1865191 |
| &nbsp;&nbsp;&nbsp; Eversource Energy 4.60%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10056 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. 4.70%, 4/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1055000 | &nbsp;&nbsp;&nbsp;&nbsp; 917720 |
| &nbsp;&nbsp;&nbsp; Florida Power & Light Co. 4.80%, 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 66000 | &nbsp;&nbsp;&nbsp;&nbsp; 67582 |
| &nbsp;&nbsp;&nbsp; Georgia Power Co.  | &nbsp;&nbsp;&nbsp; Georgia Power Co.  | &nbsp;&nbsp;&nbsp; Georgia Power Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 5/17/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 673000 | &nbsp;&nbsp;&nbsp;&nbsp; 689318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 3.25%, 3/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 61798 |
| &nbsp;&nbsp;&nbsp; Hydro-Quebec (Canada) 8.50%, 12/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 58375 |
| &nbsp;&nbsp;&nbsp; IPALCO Enterprises, Inc. 4.25%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 141476 |
| &nbsp;&nbsp;&nbsp; Nevada Power Co. Series EE, 3.13%, 8/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1102000 | &nbsp;&nbsp;&nbsp;&nbsp; 735192 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 404000 | &nbsp;&nbsp;&nbsp;&nbsp; 384111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/28/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 87422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH SOFR + 2.41%), 4.80%, 12/1/2077 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 252000 | &nbsp;&nbsp;&nbsp;&nbsp; 246124 |
| &nbsp;&nbsp;&nbsp; Northern States Power Co.  | &nbsp;&nbsp;&nbsp; Northern States Power Co.  | &nbsp;&nbsp;&nbsp; Northern States Power Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 424895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 5/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 14836 |
| &nbsp;&nbsp;&nbsp; NSTAR Electric Co.  | &nbsp;&nbsp;&nbsp; NSTAR Electric Co.  | &nbsp;&nbsp;&nbsp; NSTAR Electric Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 453000 | &nbsp;&nbsp;&nbsp;&nbsp; 465044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 14865 |
| &nbsp;&nbsp;&nbsp; Ohio Power Co. Series R, 2.90%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 15665 |
| &nbsp;&nbsp;&nbsp; Oklahoma Gas and Electric Co.  | &nbsp;&nbsp;&nbsp; Oklahoma Gas and Electric Co.  | &nbsp;&nbsp;&nbsp; Oklahoma Gas and Electric Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 1/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp; 308410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 4/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 827220 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC 4.15%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49165 |
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co.  | &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co.  | &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 289462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 123000 | &nbsp;&nbsp;&nbsp;&nbsp; 120852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 331000 | &nbsp;&nbsp;&nbsp;&nbsp; 320287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 731000 | &nbsp;&nbsp;&nbsp;&nbsp; 658060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 5/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 354000 | &nbsp;&nbsp;&nbsp;&nbsp; 369263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/15/2042 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 21434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 222219 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Electric Utilities — continued** | **Electric Utilities — continued** | **Electric Utilities — continued** |
| &nbsp;&nbsp;&nbsp; PacifiCorp  | &nbsp;&nbsp;&nbsp; PacifiCorp  | &nbsp;&nbsp;&nbsp; PacifiCorp  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 468000 | &nbsp;&nbsp;&nbsp;&nbsp; 477095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 3/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp; 11005 |
| &nbsp;&nbsp;&nbsp; PECO Energy Co. 4.90%, 6/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 283086 |
| &nbsp;&nbsp;&nbsp; PG&E Wildfire Recovery Funding LLC Series A-4, 4.45%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 224388 |
| &nbsp;&nbsp;&nbsp; Potomac Electric Power Co. 4.15%, 3/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171614 |
| &nbsp;&nbsp;&nbsp; PPL Electric Utilities Corp. 6.25%, 5/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 132000 | &nbsp;&nbsp;&nbsp;&nbsp; 147061 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of Colorado  | &nbsp;&nbsp;&nbsp; Public Service Co. of Colorado  | &nbsp;&nbsp;&nbsp; Public Service Co. of Colorado  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 34, 3.20%, 3/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 454000 | &nbsp;&nbsp;&nbsp;&nbsp; 314233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 109494 |
| &nbsp;&nbsp;&nbsp; Public Service Electric and Gas Co. 2.05%, 8/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 276022 |
| &nbsp;&nbsp;&nbsp; SCE Recovery Funding LLC Series A-2, 2.94%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 266000 | &nbsp;&nbsp;&nbsp;&nbsp; 226612 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co.  | &nbsp;&nbsp;&nbsp; Southern California Edison Co.  | &nbsp;&nbsp;&nbsp; Southern California Edison Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 05-E, 5.35%, 7/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 25341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20A, 2.95%, 2/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, 3.65%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 70208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, 5.45%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 69000 | &nbsp;&nbsp;&nbsp;&nbsp; 63375 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The)  | &nbsp;&nbsp;&nbsp; Southern Co. (The)  | &nbsp;&nbsp;&nbsp; Southern Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 3.70%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 417000 | &nbsp;&nbsp;&nbsp;&nbsp; 408101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 31935 |
| &nbsp;&nbsp;&nbsp; Southwestern Electric Power Co. Series K, 2.75%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9890 |
| &nbsp;&nbsp;&nbsp; Tampa Electric Co. 4.35%, 5/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 43150 |
| &nbsp;&nbsp;&nbsp; Union Electric Co.  | &nbsp;&nbsp;&nbsp; Union Electric Co.  | &nbsp;&nbsp;&nbsp; Union Electric Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 182640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 3/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 76992 |
| &nbsp;&nbsp;&nbsp; Virginia Electric and Power Co.  | &nbsp;&nbsp;&nbsp; Virginia Electric and Power Co.  | &nbsp;&nbsp;&nbsp; Virginia Electric and Power Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, 4.00%, 11/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 64902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, 3.80%, 9/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 1451000 | &nbsp;&nbsp;&nbsp;&nbsp; 1135818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 78000 | &nbsp;&nbsp;&nbsp;&nbsp; 45568 |
| &nbsp;&nbsp;&nbsp; Wisconsin Electric Power Co. 4.30%, 10/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 109683 |
| &nbsp;&nbsp;&nbsp; Wisconsin Power and Light Co. 1.95%, 9/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1001000 | &nbsp;&nbsp;&nbsp;&nbsp; 878655 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. 4.60%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29955 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 21792527 |
| **Electrical Equipment — 0.0% ^** | **Electrical Equipment — 0.0% ^** | **Electrical Equipment — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Eaton Corp. 4.15%, 11/2/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 124400 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. 2.75%, 10/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 97260 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. 6.05%, 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51743 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 273403 |
| **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp.  | &nbsp;&nbsp;&nbsp; Amphenol Corp.  | &nbsp;&nbsp;&nbsp; Amphenol Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 44824 |
| &nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. 2.95%, 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 86181 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Electronic Equipment, Instruments & Components — continued** | **Electronic Equipment, Instruments & Components — continued** | **Electronic Equipment, Instruments & Components — continued** |
| &nbsp;&nbsp;&nbsp; Avnet, Inc. 3.00%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 634000 | &nbsp;&nbsp;&nbsp;&nbsp; 575532 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc. 3.00%, 10/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 38243 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp.  | &nbsp;&nbsp;&nbsp; TD SYNNEX Corp.  | &nbsp;&nbsp;&nbsp; TD SYNNEX Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 8/9/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 441000 | &nbsp;&nbsp;&nbsp;&nbsp; 397019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/10/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1040000 | &nbsp;&nbsp;&nbsp;&nbsp; 1040643 |
| &nbsp;&nbsp;&nbsp; Trimble, Inc. 6.10%, 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 137000 | &nbsp;&nbsp;&nbsp;&nbsp; 147801 |
| &nbsp;&nbsp;&nbsp; Tyco Electronics Group SA (Switzerland) 3.13%, 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 628156 |
| &nbsp;&nbsp;&nbsp; Vontier Corp. 2.95%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3065081 |
| **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Halliburton Co. 4.85%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 17913 |
| &nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc.  | &nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc.  | &nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 9/29/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 606000 | &nbsp;&nbsp;&nbsp;&nbsp; 541780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 597000 | &nbsp;&nbsp;&nbsp;&nbsp; 595160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1154853 |
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.  | &nbsp;&nbsp;&nbsp; Netflix, Inc.  | &nbsp;&nbsp;&nbsp; Netflix, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 246120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 104425 |
| &nbsp;&nbsp;&nbsp; TWDC Enterprises 18 Corp.  | &nbsp;&nbsp;&nbsp; TWDC Enterprises 18 Corp.  | &nbsp;&nbsp;&nbsp; TWDC Enterprises 18 Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 7/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 241695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 17201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 7/30/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1586732 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. (The)  | &nbsp;&nbsp;&nbsp; Walt Disney Co. (The)  | &nbsp;&nbsp;&nbsp; Walt Disney Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 3/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 462000 | &nbsp;&nbsp;&nbsp;&nbsp; 461331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 1/13/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 29000 | &nbsp;&nbsp;&nbsp;&nbsp; 28091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 3/22/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 143000 | &nbsp;&nbsp;&nbsp;&nbsp; 142027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 1/13/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1189000 | &nbsp;&nbsp;&nbsp;&nbsp; 900322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3727944 |
| **Financial Services — 0.4%** | **Financial Services — 0.4%** | **Financial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.17%), 6.00%, <br> 12/15/2054 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 464000 | &nbsp;&nbsp;&nbsp;&nbsp; 455202 |
| &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. 3.90%, 4/5/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 67544 |
| &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 4/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 92000 | &nbsp;&nbsp;&nbsp;&nbsp; 92381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 18145 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc.  | &nbsp;&nbsp;&nbsp; Mastercard, Inc.  | &nbsp;&nbsp;&nbsp; Mastercard, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 3/26/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 208812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 3/9/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 56790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 1/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 37244 |
| &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp.  | &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp.  | &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 5/6/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20353 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. (Japan) | &nbsp;&nbsp;&nbsp; ORIX Corp. (Japan) | &nbsp;&nbsp;&nbsp; ORIX Corp. (Japan) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 7/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 14909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 9/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20332 |
| &nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. 5.05%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 118005 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Financial Services — continued** | **Financial Services — continued** | **Financial Services — continued** |
| &nbsp;&nbsp;&nbsp; Shell International Finance BV  | &nbsp;&nbsp;&nbsp; Shell International Finance BV  | &nbsp;&nbsp;&nbsp; Shell International Finance BV  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 12/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 866000 | &nbsp;&nbsp;&nbsp;&nbsp; 968592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/26/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1093000 | &nbsp;&nbsp;&nbsp;&nbsp; 726482 |
| &nbsp;&nbsp;&nbsp; Synchrony Bank 5.63%, 8/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 357078 |
| &nbsp;&nbsp;&nbsp; Visa, Inc.  | &nbsp;&nbsp;&nbsp; Visa, Inc.  | &nbsp;&nbsp;&nbsp; Visa, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 970000 | &nbsp;&nbsp;&nbsp;&nbsp; 924554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/14/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 668000 | &nbsp;&nbsp;&nbsp;&nbsp; 651170 |
| &nbsp;&nbsp;&nbsp; Voya Financial, Inc. 5.70%, 7/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 103043 |
| &nbsp;&nbsp;&nbsp; Western Union Co. (The) 2.75%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 542542 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5393326 |
| **Food Products — 0.5%** | **Food Products — 0.5%** | **Food Products — 0.5%** |
| &nbsp;&nbsp;&nbsp; Conagra Brands, Inc. 5.30%, 11/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 238685 |
| &nbsp;&nbsp;&nbsp; Hershey Co. (The) 3.38%, 8/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1190000 | &nbsp;&nbsp;&nbsp;&nbsp; 898992 |
| &nbsp;&nbsp;&nbsp; JBS USA Holding Lux SARL  | &nbsp;&nbsp;&nbsp; JBS USA Holding Lux SARL  | &nbsp;&nbsp;&nbsp; JBS USA Holding Lux SARL  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/2/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 587651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 24719 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co.  | &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co.  | &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 64454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 238265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/9/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 872000 | &nbsp;&nbsp;&nbsp;&nbsp; 946969 |
| &nbsp;&nbsp;&nbsp; McCormick & Co., Inc. 4.20%, 8/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 526000 | &nbsp;&nbsp;&nbsp;&nbsp; 434628 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc. 1.88%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 169000 | &nbsp;&nbsp;&nbsp;&nbsp; 145245 |
| &nbsp;&nbsp;&nbsp; Tyson Foods, Inc.  | &nbsp;&nbsp;&nbsp; Tyson Foods, Inc.  | &nbsp;&nbsp;&nbsp; Tyson Foods, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 155481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 8/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1518000 | &nbsp;&nbsp;&nbsp;&nbsp; 1521176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 8/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 191000 | &nbsp;&nbsp;&nbsp;&nbsp; 180561 |
| &nbsp;&nbsp;&nbsp; Unilever Capital Corp. (United Kingdom) | &nbsp;&nbsp;&nbsp; Unilever Capital Corp. (United Kingdom) | &nbsp;&nbsp;&nbsp; Unilever Capital Corp. (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 5/5/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 433000 | &nbsp;&nbsp;&nbsp;&nbsp; 428126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 8/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 206050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 353600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 8/12/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 126000 | &nbsp;&nbsp;&nbsp;&nbsp; 127638 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6552240 |
| **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** |
| &nbsp;&nbsp;&nbsp; Atmos Energy Corp.  | &nbsp;&nbsp;&nbsp; Atmos Energy Corp.  | &nbsp;&nbsp;&nbsp; Atmos Energy Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 11410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 1/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 61219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 3/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 245267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103555 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Resources Corp. 5.40%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103806 |
| &nbsp;&nbsp;&nbsp; Piedmont Natural Gas Co., Inc. 5.10%, 2/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 249000 | &nbsp;&nbsp;&nbsp;&nbsp; 254808 |
| &nbsp;&nbsp;&nbsp; Southern California Gas Co.  | &nbsp;&nbsp;&nbsp; Southern California Gas Co.  | &nbsp;&nbsp;&nbsp; Southern California Gas Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series UU, 4.13%, 6/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 77231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series VV, 4.30%, 1/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp; 270495 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1127791 |
| **Ground Transportation — 0.3%** | **Ground Transportation — 0.3%** | **Ground Transportation — 0.3%** |
| &nbsp;&nbsp;&nbsp; Burlington Northern Santa Fe LLC 6.15%, 5/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 22440 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Ground Transportation — continued** | **Ground Transportation — continued** | **Ground Transportation — continued** |
| &nbsp;&nbsp;&nbsp; Canadian National Railway Co. (Canada) 6.13%, 11/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 27446 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. (Canada) | &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. (Canada) | &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 12/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 303150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 11/15/2069 | &nbsp;&nbsp;&nbsp;&nbsp; 414000 | &nbsp;&nbsp;&nbsp;&nbsp; 317114 |
| &nbsp;&nbsp;&nbsp; CSX Corp. 4.30%, 3/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 34000 | &nbsp;&nbsp;&nbsp;&nbsp; 28936 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp.  | &nbsp;&nbsp;&nbsp; Norfolk Southern Corp.  | &nbsp;&nbsp;&nbsp; Norfolk Southern Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp; 230171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 8/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 5/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 19000 | &nbsp;&nbsp;&nbsp;&nbsp; 12784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 3/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 379000 | &nbsp;&nbsp;&nbsp;&nbsp; 280596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 5/15/2121 | &nbsp;&nbsp;&nbsp;&nbsp; 796000 | &nbsp;&nbsp;&nbsp;&nbsp; 566711 |
| &nbsp;&nbsp;&nbsp; Ryder System, Inc. 6.30%, 12/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 69000 | &nbsp;&nbsp;&nbsp;&nbsp; 73177 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp.  | &nbsp;&nbsp;&nbsp; Union Pacific Corp.  | &nbsp;&nbsp;&nbsp; Union Pacific Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 607000 | &nbsp;&nbsp;&nbsp;&nbsp; 551938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 4/6/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 909000 | &nbsp;&nbsp;&nbsp;&nbsp; 773278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 8/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 100240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/10/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 447000 | &nbsp;&nbsp;&nbsp;&nbsp; 292085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 3/20/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 122820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 9/15/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 126913 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3933689 |
| **Health Care Equipment & Supplies — 0.3%** | **Health Care Equipment & Supplies — 0.3%** | **Health Care Equipment & Supplies — 0.3%** |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories  | &nbsp;&nbsp;&nbsp; Abbott Laboratories  | &nbsp;&nbsp;&nbsp; Abbott Laboratories  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 1/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 677000 | &nbsp;&nbsp;&nbsp;&nbsp; 641394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 6/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 194000 | &nbsp;&nbsp;&nbsp;&nbsp; 174044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 11/30/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 326000 | &nbsp;&nbsp;&nbsp;&nbsp; 369394 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc.  | &nbsp;&nbsp;&nbsp; Baxter International, Inc.  | &nbsp;&nbsp;&nbsp; Baxter International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.27%, 12/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 364000 | &nbsp;&nbsp;&nbsp;&nbsp; 342641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.73%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1241000 | &nbsp;&nbsp;&nbsp;&nbsp; 1064107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 8/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 370259 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. 4.30%, 8/22/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 126551 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.  | &nbsp;&nbsp;&nbsp; Boston Scientific Corp.  | &nbsp;&nbsp;&nbsp; Boston Scientific Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 3/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48224 |
| &nbsp;&nbsp;&nbsp; DENTSPLY SIRONA, Inc. 3.25%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 259547 |
| &nbsp;&nbsp;&nbsp; DH Europe Finance II SARL 3.25%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 609322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4055645 |
| **Health Care Providers & Services — 1.1%** | **Health Care Providers & Services — 1.1%** | **Health Care Providers & Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Ascension Health Series B, 3.11%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 181126 |
| &nbsp;&nbsp;&nbsp; Baptist Health South Florida Obligated Group Series 2021, 3.12%, 11/15/2071 | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 198962 |
| &nbsp;&nbsp;&nbsp; Bon Secours Mercy Health, Inc. 3.46%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48906 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. 2.70%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 852000 | &nbsp;&nbsp;&nbsp;&nbsp; 787949 |
| &nbsp;&nbsp;&nbsp; Centene Corp. 2.63%, 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 12860 |
| &nbsp;&nbsp;&nbsp; Cigna Group (The) 3.40%, 3/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 193563 |
| &nbsp;&nbsp;&nbsp; CommonSpirit Health 4.35%, 11/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 21796 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp.  | &nbsp;&nbsp;&nbsp; CVS Health Corp.  | &nbsp;&nbsp;&nbsp; CVS Health Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 178470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 8/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 104891 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 3/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 571359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 14000 | &nbsp;&nbsp;&nbsp;&nbsp; 13526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 8/21/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1386000 | &nbsp;&nbsp;&nbsp;&nbsp; 1231921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp; 361708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 3/25/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 28544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 177292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 479380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 3/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 246000 | &nbsp;&nbsp;&nbsp;&nbsp; 220994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/1/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 147067 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc.  | &nbsp;&nbsp;&nbsp; Elevance Health, Inc.  | &nbsp;&nbsp;&nbsp; Elevance Health, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 92360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1106000 | &nbsp;&nbsp;&nbsp;&nbsp; 1166980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 1/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 47571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 268538 |
| &nbsp;&nbsp;&nbsp; HCA, Inc.  | &nbsp;&nbsp;&nbsp; HCA, Inc.  | &nbsp;&nbsp;&nbsp; HCA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1119000 | &nbsp;&nbsp;&nbsp;&nbsp; 1104898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 328000 | &nbsp;&nbsp;&nbsp;&nbsp; 316107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 256000 | &nbsp;&nbsp;&nbsp;&nbsp; 213625 |
| &nbsp;&nbsp;&nbsp; Humana, Inc.  | &nbsp;&nbsp;&nbsp; Humana, Inc.  | &nbsp;&nbsp;&nbsp; Humana, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 2/3/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 47000 | &nbsp;&nbsp;&nbsp;&nbsp; 45501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 3/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 1182000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 32381 |
| &nbsp;&nbsp;&nbsp; Kaiser Foundation Hospitals Series 2021, 3.00%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 119000 | &nbsp;&nbsp;&nbsp;&nbsp; 79884 |
| &nbsp;&nbsp;&nbsp; Laboratory Corp. of America Holdings 4.70%, 2/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp; 182568 |
| &nbsp;&nbsp;&nbsp; Memorial Sloan-Kettering Cancer Center  | &nbsp;&nbsp;&nbsp; Memorial Sloan-Kettering Cancer Center  | &nbsp;&nbsp;&nbsp; Memorial Sloan-Kettering Cancer Center  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 47000 | &nbsp;&nbsp;&nbsp;&nbsp; 45950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 90415 |
| &nbsp;&nbsp;&nbsp; Mount Sinai Hospital (The) Series 2019, 3.74%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 50608 |
| &nbsp;&nbsp;&nbsp; PeaceHealth Obligated Group Series 2018, 4.79%, 11/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 43960 |
| &nbsp;&nbsp;&nbsp; Providence St Joseph Health Obligated Group 5.40%, 10/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 192223 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. 2.95%, 6/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 35086 |
| &nbsp;&nbsp;&nbsp; UMass Memorial Health Care Obligated Group 5.36%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 188634 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.  | &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.  | &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 236927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 364725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 548000 | &nbsp;&nbsp;&nbsp;&nbsp; 546003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 3/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 351000 | &nbsp;&nbsp;&nbsp;&nbsp; 377319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 271000 | &nbsp;&nbsp;&nbsp;&nbsp; 306200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 5/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2023000 | &nbsp;&nbsp;&nbsp;&nbsp; 1396888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 5/15/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 1292000 | &nbsp;&nbsp;&nbsp;&nbsp; 806164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 4/15/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 22987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14251402 |
| **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc.  | &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc.  | &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 482842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 6809 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Health Care REITs — continued** | **Health Care REITs — continued** | **Health Care REITs — continued** |
| &nbsp;&nbsp;&nbsp; Healthcare Realty Holdings LP 3.50%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 59000 | &nbsp;&nbsp;&nbsp;&nbsp; 58661 |
| &nbsp;&nbsp;&nbsp; Healthpeak OP LLC 6.75%, 2/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 31147 |
| &nbsp;&nbsp;&nbsp; National Health Investors, Inc. 3.00%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 99917 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care LP 3.20%, 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 141838 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP  | &nbsp;&nbsp;&nbsp; Ventas Realty LP  | &nbsp;&nbsp;&nbsp; Ventas Realty LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 69825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 9/30/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 46216 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 937255 |
| **Hotels, Restaurants & Leisure — 0.3%** | **Hotels, Restaurants & Leisure — 0.3%** | **Hotels, Restaurants & Leisure — 0.3%** |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc.  | &nbsp;&nbsp;&nbsp; Expedia Group, Inc.  | &nbsp;&nbsp;&nbsp; Expedia Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 561000 | &nbsp;&nbsp;&nbsp;&nbsp; 538978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 349000 | &nbsp;&nbsp;&nbsp;&nbsp; 324672 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. 5.90%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp;&nbsp; 22406 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc. Series GG, 3.50%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 84223 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp.  | &nbsp;&nbsp;&nbsp; McDonald's Corp.  | &nbsp;&nbsp;&nbsp; McDonald's Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 9/9/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/9/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 388000 | &nbsp;&nbsp;&nbsp;&nbsp; 388656 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. 5.38%, 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 222379 |
| &nbsp;&nbsp;&nbsp; Sands China Ltd. (Macau) 2.85%, 3/8/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028215 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp.  | &nbsp;&nbsp;&nbsp; Starbucks Corp.  | &nbsp;&nbsp;&nbsp; Starbucks Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 3/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 62000 | &nbsp;&nbsp;&nbsp;&nbsp; 60447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 77760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/14/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 843000 | &nbsp;&nbsp;&nbsp;&nbsp; 779909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3732324 |
| **Household Durables — 0.0% ^** | **Household Durables — 0.0% ^** | **Household Durables — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Leggett & Platt, Inc.  | &nbsp;&nbsp;&nbsp; Leggett & Platt, Inc.  | &nbsp;&nbsp;&nbsp; Leggett & Platt, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 79000 | &nbsp;&nbsp;&nbsp;&nbsp; 77673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 64959 |
| &nbsp;&nbsp;&nbsp; NVR, Inc. 3.00%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 268393 |
| &nbsp;&nbsp;&nbsp; Sekisui House US, Inc. 3.97%, 8/6/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 68549 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 479574 |
| **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. 5.60%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 277540 |
| &nbsp;&nbsp;&nbsp; Clorox Co. (The) 4.40%, 5/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 221421 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. 3.20%, 7/30/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 65615 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The)  | &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The)  | &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 1/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 617000 | &nbsp;&nbsp;&nbsp;&nbsp; 621120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 1/29/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 63000 | &nbsp;&nbsp;&nbsp;&nbsp; 64255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 215739 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1465690 |
| **Independent Power and Renewable Electricity Producers — 0.0% ^** | **Independent Power and Renewable Electricity Producers — 0.0% ^** | **Independent Power and Renewable Electricity Producers — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC 5.80%, 3/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp; 336564 |
| &nbsp;&nbsp;&nbsp; Oglethorpe Power Corp. 5.38%, 11/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 71866 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 408430 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Industrial Conglomerates — 0.2%** | **Industrial Conglomerates — 0.2%** | **Industrial Conglomerates — 0.2%** |
| &nbsp;&nbsp;&nbsp; 3M Co.  | &nbsp;&nbsp;&nbsp; 3M Co.  | &nbsp;&nbsp;&nbsp; 3M Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 8/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 132859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 9/19/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 997964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/14/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 12223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 8/26/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 31582 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc.  | &nbsp;&nbsp;&nbsp; Honeywell International, Inc.  | &nbsp;&nbsp;&nbsp; Honeywell International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 301538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp; 555853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2032019 |
| **Industrial REITs — 0.0% ^** | **Industrial REITs — 0.0% ^** | **Industrial REITs — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Prologis LP  | &nbsp;&nbsp;&nbsp; Prologis LP  | &nbsp;&nbsp;&nbsp; Prologis LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 18176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 291000 | &nbsp;&nbsp;&nbsp;&nbsp; 262070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 148436 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 428682 |
| **Insurance — 0.7%** | **Insurance — 0.7%** | **Insurance — 0.7%** |
| &nbsp;&nbsp;&nbsp; Alleghany Corp. 3.25%, 8/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 6910 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. (The)  | &nbsp;&nbsp;&nbsp; Allstate Corp. (The)  | &nbsp;&nbsp;&nbsp; Allstate Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 386000 | &nbsp;&nbsp;&nbsp;&nbsp; 383412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 48981 |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. 3.88%, 1/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp;&nbsp; 97967 |
| &nbsp;&nbsp;&nbsp; Aon Corp. 3.90%, 2/28/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 11378 |
| &nbsp;&nbsp;&nbsp; Aon Global Ltd. 4.60%, 6/14/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 340963 |
| &nbsp;&nbsp;&nbsp; Aon North America, Inc. 5.75%, 3/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25296 |
| &nbsp;&nbsp;&nbsp; Athene Holding Ltd.  | &nbsp;&nbsp;&nbsp; Athene Holding Ltd.  | &nbsp;&nbsp;&nbsp; Athene Holding Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 229268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.61%), 6.63%, 10/15/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 170623 |
| &nbsp;&nbsp;&nbsp; AXA SA (France) 8.60%, 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 130188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AXIS Specialty Finance LLC (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.19%), 4.90%, <br> 1/15/2040 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 221837 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Finance Corp. 2.50%, 1/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 306698 |
| &nbsp;&nbsp;&nbsp; Brighthouse Financial, Inc. 3.85%, 12/22/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 93490 |
| &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. 4.50%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 253978 |
| &nbsp;&nbsp;&nbsp; Chubb INA Holdings LLC 3.05%, 12/15/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 358000 | &nbsp;&nbsp;&nbsp;&nbsp; 224954 |
| &nbsp;&nbsp;&nbsp; CNA Financial Corp.  | &nbsp;&nbsp;&nbsp; CNA Financial Corp.  | &nbsp;&nbsp;&nbsp; CNA Financial Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 5/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 27044 |
| &nbsp;&nbsp;&nbsp; Everest Reinsurance Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Everest Reinsurance Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Everest Reinsurance Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 6/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 27999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 10582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 23695 |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. 3.05%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 934000 | &nbsp;&nbsp;&nbsp;&nbsp; 891158 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc.  | &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc.  | &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 311000 | &nbsp;&nbsp;&nbsp;&nbsp; 314600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1525000 | &nbsp;&nbsp;&nbsp;&nbsp; 1392967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 3/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 33536 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Insurance — continued** | **Insurance — continued** | **Insurance — continued** |
| &nbsp;&nbsp;&nbsp; MetLife, Inc.  | &nbsp;&nbsp;&nbsp; MetLife, Inc.  | &nbsp;&nbsp;&nbsp; MetLife, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 6/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp; 832529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 6/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 697000 | &nbsp;&nbsp;&nbsp;&nbsp; 747449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 8/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 39944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 5/13/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 269787 |
| &nbsp;&nbsp;&nbsp; Nationwide Financial Services, Inc. 6.75%, 5/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 130175 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. (The) 4.00%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 44114 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc.  | &nbsp;&nbsp;&nbsp; Prudential Financial, Inc.  | &nbsp;&nbsp;&nbsp; Prudential Financial, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 5/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 27840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 12/7/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 16014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 12/7/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 608289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.40%), 6.50%, 3/15/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 33685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%), 6.65%, <br> 9/15/2055 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 124000 | &nbsp;&nbsp;&nbsp;&nbsp; 127603 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. (Bermuda) 3.60%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 298905 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 3/4/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 152603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 6/8/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 21000 | &nbsp;&nbsp;&nbsp;&nbsp; 14162 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8635381 |
| **Interactive Media & Services — 0.2%** | **Interactive Media & Services — 0.2%** | **Interactive Media & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc.  | &nbsp;&nbsp;&nbsp; Alphabet, Inc.  | &nbsp;&nbsp;&nbsp; Alphabet, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%, 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 856000 | &nbsp;&nbsp;&nbsp;&nbsp; 817109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 8/15/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 1401000 | &nbsp;&nbsp;&nbsp;&nbsp; 748304 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc.  | &nbsp;&nbsp;&nbsp; Meta Platforms, Inc.  | &nbsp;&nbsp;&nbsp; Meta Platforms, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 204501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 8/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp; 258534 |
| &nbsp;&nbsp;&nbsp; Weibo Corp. (China) 3.38%, 7/8/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 329492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2357940 |
| **IT Services — 0.1%** | **IT Services — 0.1%** | **IT Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; DXC Technology Co. 2.38%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 125929 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. 5.88%, 11/29/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1382000 | &nbsp;&nbsp;&nbsp;&nbsp; 1504488 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1630417 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Brunswick Corp. 4.40%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 404000 | &nbsp;&nbsp;&nbsp;&nbsp; 386127 |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. 3.90%, 11/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39299 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc. 5.45%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 392195 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 817621 |
| **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Danaher Corp. 2.60%, 10/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 6240 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.  | &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.  | &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1636000 | &nbsp;&nbsp;&nbsp;&nbsp; 1542060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 8/10/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 138000 | &nbsp;&nbsp;&nbsp;&nbsp; 140512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1688812 |
| **Machinery — 0.2%** | **Machinery — 0.2%** | **Machinery — 0.2%** |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc.  | &nbsp;&nbsp;&nbsp; Caterpillar, Inc.  | &nbsp;&nbsp;&nbsp; Caterpillar, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 5/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 53429 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Machinery — continued** | **Machinery — continued** | **Machinery — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 5/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 876000 | &nbsp;&nbsp;&nbsp;&nbsp; 787496 |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. 2.60%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 674000 | &nbsp;&nbsp;&nbsp;&nbsp; 417688 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. 4.88%, 9/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 228240 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. 4.25%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 424892 |
| &nbsp;&nbsp;&nbsp; Snap-on, Inc. 3.10%, 5/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 216000 | &nbsp;&nbsp;&nbsp;&nbsp; 150287 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. 3.45%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 298117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2360149 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC  | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC  | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 28848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 152633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 236728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/23/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp; 311005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 4/1/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 611000 | &nbsp;&nbsp;&nbsp;&nbsp; 373409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 6/30/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 243000 | &nbsp;&nbsp;&nbsp;&nbsp; 149339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/1/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 774000 | &nbsp;&nbsp;&nbsp;&nbsp; 622906 |
| &nbsp;&nbsp;&nbsp; Comcast Corp.  | &nbsp;&nbsp;&nbsp; Comcast Corp.  | &nbsp;&nbsp;&nbsp; Comcast Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 216154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 133924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 320137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 541000 | &nbsp;&nbsp;&nbsp;&nbsp; 547688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 584151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 1/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 208861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 8/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 456000 | &nbsp;&nbsp;&nbsp;&nbsp; 247961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 37452 |
| &nbsp;&nbsp;&nbsp; Fox Corp. 4.71%, 1/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 898105 |
| &nbsp;&nbsp;&nbsp; Paramount Global  | &nbsp;&nbsp;&nbsp; Paramount Global  | &nbsp;&nbsp;&nbsp; Paramount Global  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 5/19/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 431000 | &nbsp;&nbsp;&nbsp;&nbsp; 401573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 476000 | &nbsp;&nbsp;&nbsp;&nbsp; 386470 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC 4.50%, 9/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 151826 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6032732 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp; ArcelorMittal SA (Luxembourg) | &nbsp;&nbsp;&nbsp; ArcelorMittal SA (Luxembourg) | &nbsp;&nbsp;&nbsp; ArcelorMittal SA (Luxembourg) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 11/29/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 86000 | &nbsp;&nbsp;&nbsp;&nbsp; 89511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 7/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40112 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc.  | &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc.  | &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 8/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/14/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 272000 | &nbsp;&nbsp;&nbsp;&nbsp; 282604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 3/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 589000 | &nbsp;&nbsp;&nbsp;&nbsp; 572804 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. 2.60%, 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 22780 |
| &nbsp;&nbsp;&nbsp; Nucor Corp. 4.40%, 5/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 43387 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Alcan, Inc. (Canada) 7.25%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 191000 | &nbsp;&nbsp;&nbsp;&nbsp; 218932 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA plc (Australia) | &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA plc (Australia) | &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA plc (Australia) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/9/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 18589 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Metals & Mining — continued** | **Metals & Mining — continued** | **Metals & Mining — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/22/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 240171 |
| &nbsp;&nbsp;&nbsp; Yamana Gold, Inc. (Canada) 2.63%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 73692 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1702602 |
| **Multi-Utilities — 0.6%** | **Multi-Utilities — 0.6%** | **Multi-Utilities — 0.6%** |
| &nbsp;&nbsp;&nbsp; Ameren Corp. 1.75%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1822000 | &nbsp;&nbsp;&nbsp;&nbsp; 1728576 |
| &nbsp;&nbsp;&nbsp; Avista Corp. 4.00%, 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 27000 | &nbsp;&nbsp;&nbsp;&nbsp; 21142 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Energy Co.  | &nbsp;&nbsp;&nbsp; Berkshire Hathaway Energy Co.  | &nbsp;&nbsp;&nbsp; Berkshire Hathaway Energy Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 229000 | &nbsp;&nbsp;&nbsp;&nbsp; 199953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 7/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 781000 | &nbsp;&nbsp;&nbsp;&nbsp; 599674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 5/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 576000 | &nbsp;&nbsp;&nbsp;&nbsp; 365271 |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. 5.95%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 514119 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. 2.95%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 27000 | &nbsp;&nbsp;&nbsp;&nbsp; 25608 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. 4.88%, 3/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 16231 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison Co. of New York, Inc. 3.70%, 11/15/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 856019 |
| &nbsp;&nbsp;&nbsp; Consumers Energy Co.  | &nbsp;&nbsp;&nbsp; Consumers Energy Co.  | &nbsp;&nbsp;&nbsp; Consumers Energy Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 8/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 927000 | &nbsp;&nbsp;&nbsp;&nbsp; 685096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 38632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 8/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 88314 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. 2.95%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 80799 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc.  | &nbsp;&nbsp;&nbsp; NiSource, Inc.  | &nbsp;&nbsp;&nbsp; NiSource, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 6/30/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 224000 | &nbsp;&nbsp;&nbsp;&nbsp; 216809 |
| &nbsp;&nbsp;&nbsp; PG&E Energy Recovery Funding LLC Series A-1, 1.46%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 309893 | &nbsp;&nbsp;&nbsp;&nbsp; 288596 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. 1.60%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 13291 |
| &nbsp;&nbsp;&nbsp; Puget Sound Energy, Inc. 5.80%, 3/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 56000 | &nbsp;&nbsp;&nbsp;&nbsp; 58728 |
| &nbsp;&nbsp;&nbsp; San Diego Gas & Electric Co.  | &nbsp;&nbsp;&nbsp; San Diego Gas & Electric Co.  | &nbsp;&nbsp;&nbsp; San Diego Gas & Electric Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series XXX, 3.00%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 220683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 41535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 36686 |
| &nbsp;&nbsp;&nbsp; Sempra  | &nbsp;&nbsp;&nbsp; Sempra  | &nbsp;&nbsp;&nbsp; Sempra  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 31494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 2/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 701000 | &nbsp;&nbsp;&nbsp;&nbsp; 606565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 4.13%, 4/1/2052 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 9000 | &nbsp;&nbsp;&nbsp;&nbsp; 8773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.40%, 10/1/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 78000 | &nbsp;&nbsp;&nbsp;&nbsp; 79473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.14%), 6.55%, 4/1/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 157979 |
| &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp.  | &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp.  | &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 928000 | &nbsp;&nbsp;&nbsp;&nbsp; 957141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 9/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 131033 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8120188 |
| **Office REITs — 0.2%** | **Office REITs — 0.2%** | **Office REITs — 0.2%** |
| &nbsp;&nbsp;&nbsp; Boston Properties LP  | &nbsp;&nbsp;&nbsp; Boston Properties LP  | &nbsp;&nbsp;&nbsp; Boston Properties LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 84382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 1/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 893000 | &nbsp;&nbsp;&nbsp;&nbsp; 837170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 488403 |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties LP 2.00%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 154778 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty LP 2.50%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 415846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1980579 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** |
| &nbsp;&nbsp;&nbsp; APA Corp.  | &nbsp;&nbsp;&nbsp; APA Corp.  | &nbsp;&nbsp;&nbsp; APA Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 448000 | &nbsp;&nbsp;&nbsp;&nbsp; 378441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 2/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 306196 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc.  | &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc.  | &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 5/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 1/12/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1108000 | &nbsp;&nbsp;&nbsp;&nbsp; 1013031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 2/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/24/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 403651 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets plc 3.28%, 9/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29713 |
| &nbsp;&nbsp;&nbsp; Burlington Resources LLC 5.95%, 10/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 185060 |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd. (Canada) 6.25%, 3/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp; 216830 |
| &nbsp;&nbsp;&nbsp; Cenovus Energy, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Cenovus Energy, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Cenovus Energy, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 228000 | &nbsp;&nbsp;&nbsp;&nbsp; 203117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 342000 | &nbsp;&nbsp;&nbsp;&nbsp; 334164 |
| &nbsp;&nbsp;&nbsp; Chevron USA, Inc. 1.02%, 8/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp;&nbsp; 246597 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. 4.30%, 11/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 131097 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. 7.95%, 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 34928 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc.  | &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc.  | &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 3/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 38000 | &nbsp;&nbsp;&nbsp;&nbsp; 35539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 3/24/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 175028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 355541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/18/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 85827 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 402513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 8/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 988000 | &nbsp;&nbsp;&nbsp;&nbsp; 849115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.97%), 7.20%, 6/27/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 333000 | &nbsp;&nbsp;&nbsp;&nbsp; 356579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.12%), 7.38%, 3/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 384000 | &nbsp;&nbsp;&nbsp;&nbsp; 408417 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP  | &nbsp;&nbsp;&nbsp; Energy Transfer LP  | &nbsp;&nbsp;&nbsp; Energy Transfer LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 337000 | &nbsp;&nbsp;&nbsp;&nbsp; 342846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 64000 | &nbsp;&nbsp;&nbsp;&nbsp; 67513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 3/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 214949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 5/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 271491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 23666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 543491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 358000 | &nbsp;&nbsp;&nbsp;&nbsp; 304501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 5/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 72347 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC  | &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC  | &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 7/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 629000 | &nbsp;&nbsp;&nbsp;&nbsp; 610184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 2/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 366292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 2/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp; 389107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 2/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 60212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 2/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 29000 | &nbsp;&nbsp;&nbsp;&nbsp; 26083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 1/31/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 7458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 2/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 41076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 1/31/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 67232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, (3-MONTH CME TERM SOFR + 3.29%), 5.25%, 8/16/2077 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 209000 | &nbsp;&nbsp;&nbsp;&nbsp; 208630 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; EQT Corp. 7.00%, 2/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 167000 | &nbsp;&nbsp;&nbsp;&nbsp; 181540 |
| &nbsp;&nbsp;&nbsp; Equinor ASA (Norway) 3.25%, 11/18/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 304000 | &nbsp;&nbsp;&nbsp;&nbsp; 218795 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. 5.70%, 1/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 155888 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp.  | &nbsp;&nbsp;&nbsp; Exxon Mobil Corp.  | &nbsp;&nbsp;&nbsp; Exxon Mobil Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 3/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 228719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 3/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 3/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 577000 | &nbsp;&nbsp;&nbsp;&nbsp; 491694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 4/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 94812 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc.  | &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc.  | &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 36000 | &nbsp;&nbsp;&nbsp;&nbsp; 35251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 2/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2221000 | &nbsp;&nbsp;&nbsp;&nbsp; 2238577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 6/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 211865 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. 4.75%, 9/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 43434 |
| &nbsp;&nbsp;&nbsp; MPLX LP 5.20%, 3/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp; 192489 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. 5.20%, 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 330920 |
| &nbsp;&nbsp;&nbsp; ONEOK Partners LP 6.65%, 10/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 128342 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc.  | &nbsp;&nbsp;&nbsp; ONEOK, Inc.  | &nbsp;&nbsp;&nbsp; ONEOK, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 151295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 552000 | &nbsp;&nbsp;&nbsp;&nbsp; 533645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 79348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 26413 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc.  | &nbsp;&nbsp;&nbsp; Ovintiv, Inc.  | &nbsp;&nbsp;&nbsp; Ovintiv, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 278000 | &nbsp;&nbsp;&nbsp;&nbsp; 286331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 7/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 29677 |
| &nbsp;&nbsp;&nbsp; Phillips 66  | &nbsp;&nbsp;&nbsp; Phillips 66  | &nbsp;&nbsp;&nbsp; Phillips 66  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 269000 | &nbsp;&nbsp;&nbsp;&nbsp; 241672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 78207 |
| &nbsp;&nbsp;&nbsp; Phillips 66 Co.  | &nbsp;&nbsp;&nbsp; Phillips 66 Co.  | &nbsp;&nbsp;&nbsp; Phillips 66 Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 499000 | &nbsp;&nbsp;&nbsp;&nbsp; 495682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 6/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 28651 |
| &nbsp;&nbsp;&nbsp; Sabine Pass Liquefaction LLC 4.20%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp; 164310 |
| &nbsp;&nbsp;&nbsp; Shell Finance US, Inc. 2.38%, 11/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 327455 |
| &nbsp;&nbsp;&nbsp; TC PipeLines LP 3.90%, 5/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19918 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital International SA (France) | &nbsp;&nbsp;&nbsp; TotalEnergies Capital International SA (France) | &nbsp;&nbsp;&nbsp; TotalEnergies Capital International SA (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 7/12/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 36396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 6/29/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 66630 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital SA (France) 4.72%, 9/10/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 107000 | &nbsp;&nbsp;&nbsp;&nbsp; 108636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransCanada PipeLines Ltd. (Canada) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.61%), 7.00%, <br> 6/1/2065 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 133136 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp.  | &nbsp;&nbsp;&nbsp; Valero Energy Corp.  | &nbsp;&nbsp;&nbsp; Valero Energy Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 270276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 22414 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 87000 | &nbsp;&nbsp;&nbsp;&nbsp; 86454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 79243 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18883581 |
| **Paper & Forest Products — 0.0% ^** | **Paper & Forest Products — 0.0% ^** | **Paper & Forest Products — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH (Brazil) 6.00%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 364000 | &nbsp;&nbsp;&nbsp;&nbsp; 374937 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Passenger Airlines — 0.0% ^** | **Passenger Airlines — 0.0% ^** | **Passenger Airlines — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. 5.13%, 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 103000 | &nbsp;&nbsp;&nbsp;&nbsp; 104119 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 107112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100785 |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. 4.90%, 3/22/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 437000 | &nbsp;&nbsp;&nbsp;&nbsp; 448080 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 655977 |
| **Pharmaceuticals — 0.7%** | **Pharmaceuticals — 0.7%** | **Pharmaceuticals — 0.7%** |
| &nbsp;&nbsp;&nbsp; Astrazeneca Finance LLC (United Kingdom) 1.75%, 5/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2189660 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co.  | &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co.  | &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 2/22/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 71872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/26/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 1019000 | &nbsp;&nbsp;&nbsp;&nbsp; 854308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/13/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 476000 | &nbsp;&nbsp;&nbsp;&nbsp; 288794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 2/22/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 504255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 3/15/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 41000 | &nbsp;&nbsp;&nbsp;&nbsp; 30357 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson 3.40%, 1/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 10675 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc.  | &nbsp;&nbsp;&nbsp; Merck & Co., Inc.  | &nbsp;&nbsp;&nbsp; Merck & Co., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 3/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 678000 | &nbsp;&nbsp;&nbsp;&nbsp; 667344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 9/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 108000 | &nbsp;&nbsp;&nbsp;&nbsp; 88666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 2/10/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 263000 | &nbsp;&nbsp;&nbsp;&nbsp; 213293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/10/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 279000 | &nbsp;&nbsp;&nbsp;&nbsp; 167540 |
| &nbsp;&nbsp;&nbsp; Pfizer Investment Enterprises Pte. Ltd. 4.75%, 5/19/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76491 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc.  | &nbsp;&nbsp;&nbsp; Pfizer, Inc.  | &nbsp;&nbsp;&nbsp; Pfizer, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 491000 | &nbsp;&nbsp;&nbsp;&nbsp; 490237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1181000 | &nbsp;&nbsp;&nbsp;&nbsp; 1168097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 308000 | &nbsp;&nbsp;&nbsp;&nbsp; 291793 |
| &nbsp;&nbsp;&nbsp; Pharmacia LLC 6.60%, 12/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 376180 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma plc 1.75%, 9/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 383000 | &nbsp;&nbsp;&nbsp;&nbsp; 367790 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. (Japan) 2.05%, 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183117 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. 2.30%, 6/22/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 506000 | &nbsp;&nbsp;&nbsp;&nbsp; 488548 |
| &nbsp;&nbsp;&nbsp; Wyeth LLC 5.95%, 4/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 417000 | &nbsp;&nbsp;&nbsp;&nbsp; 454766 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. 4.70%, 2/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 13928 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9252412 |
| **Professional Services — 0.1%** | **Professional Services — 0.1%** | **Professional Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Concentrix Corp. 6.60%, 8/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 196071 |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. 2.35%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 124758 |
| &nbsp;&nbsp;&nbsp; TR Finance LLC (Canada) 3.35%, 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 293385 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. 5.25%, 3/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 138110 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 752324 |
| **Residential REITs — 0.2%** | **Residential REITs — 0.2%** | **Residential REITs — 0.2%** |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent LP 4.90%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 24456 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc.  | &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc.  | &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 5/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 10946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 12/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 990000 | &nbsp;&nbsp;&nbsp;&nbsp; 933156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 122000 | &nbsp;&nbsp;&nbsp;&nbsp; 113219 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Residential REITs — continued** | **Residential REITs — continued** | **Residential REITs — continued** |
| &nbsp;&nbsp;&nbsp; Essential Properties LP 5.40%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 462392 |
| &nbsp;&nbsp;&nbsp; Sun Communities Operating LP  | &nbsp;&nbsp;&nbsp; Sun Communities Operating LP  | &nbsp;&nbsp;&nbsp; Sun Communities Operating LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 398000 | &nbsp;&nbsp;&nbsp;&nbsp; 363290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29320 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. 3.10%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1035000 | &nbsp;&nbsp;&nbsp;&nbsp; 904341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2841120 |
| **Retail REITs — 0.1%** | **Retail REITs — 0.1%** | **Retail REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kimco Realty OP LLC 4.60%, 2/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 289561 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. 4.80%, 10/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 204970 |
| &nbsp;&nbsp;&nbsp; Phillips Edison Grocery Center Operating Partnership I LP 2.63%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 170823 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp.  | &nbsp;&nbsp;&nbsp; Realty Income Corp.  | &nbsp;&nbsp;&nbsp; Realty Income Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 36015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp; 255402 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 956771 |
| **Semiconductors & Semiconductor Equipment — 0.5%** | **Semiconductors & Semiconductor Equipment — 0.5%** | **Semiconductors & Semiconductor Equipment — 0.5%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. 3.92%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 262830 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. 2.95%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 38364 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc.  | &nbsp;&nbsp;&nbsp; Broadcom, Inc.  | &nbsp;&nbsp;&nbsp; Broadcom, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 130517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 180593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 11/15/2035 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 175165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 5/15/2037 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1291000 | &nbsp;&nbsp;&nbsp;&nbsp; 1295952 |
| &nbsp;&nbsp;&nbsp; Intel Corp.  | &nbsp;&nbsp;&nbsp; Intel Corp.  | &nbsp;&nbsp;&nbsp; Intel Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 378000 | &nbsp;&nbsp;&nbsp;&nbsp; 353207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 8/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 819000 | &nbsp;&nbsp;&nbsp;&nbsp; 721149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 3/25/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 76177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1244000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 2/15/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 681000 | &nbsp;&nbsp;&nbsp;&nbsp; 398986 |
| &nbsp;&nbsp;&nbsp; KLA Corp. 5.25%, 7/15/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 662000 | &nbsp;&nbsp;&nbsp;&nbsp; 632483 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. 3.13%, 6/15/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 32033 |
| &nbsp;&nbsp;&nbsp; NXP BV (Netherlands) | &nbsp;&nbsp;&nbsp; NXP BV (Netherlands) | &nbsp;&nbsp;&nbsp; NXP BV (Netherlands) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 6/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 16000 | &nbsp;&nbsp;&nbsp;&nbsp; 16022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 91313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/19/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 122000 | &nbsp;&nbsp;&nbsp;&nbsp; 124057 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc.  | &nbsp;&nbsp;&nbsp; QUALCOMM, Inc.  | &nbsp;&nbsp;&nbsp; QUALCOMM, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 5/20/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 361000 | &nbsp;&nbsp;&nbsp;&nbsp; 309638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 5/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 48492 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc.  | &nbsp;&nbsp;&nbsp; Texas Instruments, Inc.  | &nbsp;&nbsp;&nbsp; Texas Instruments, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/3/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 532000 | &nbsp;&nbsp;&nbsp;&nbsp; 525199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 8/16/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 208236 |
| &nbsp;&nbsp;&nbsp; TSMC Arizona Corp. (Taiwan) 1.75%, 10/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 529450 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7178273 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc. 2.15%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34373 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp.  | &nbsp;&nbsp;&nbsp; Microsoft Corp.  | &nbsp;&nbsp;&nbsp; Microsoft Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/12/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 667208 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Software — continued** | **Software — continued** | **Software — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/12/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 291000 | &nbsp;&nbsp;&nbsp;&nbsp; 239040 |
| &nbsp;&nbsp;&nbsp; Oracle Corp.  | &nbsp;&nbsp;&nbsp; Oracle Corp.  | &nbsp;&nbsp;&nbsp; Oracle Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 9/26/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1930000 | &nbsp;&nbsp;&nbsp;&nbsp; 1891680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 971000 | &nbsp;&nbsp;&nbsp;&nbsp; 642595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 3/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1982000 | &nbsp;&nbsp;&nbsp;&nbsp; 1379907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/27/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 185218 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. 1.40%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 407000 | &nbsp;&nbsp;&nbsp;&nbsp; 388749 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. 1.95%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2237000 | &nbsp;&nbsp;&nbsp;&nbsp; 1999127 |
| &nbsp;&nbsp;&nbsp; VMware LLC  | &nbsp;&nbsp;&nbsp; VMware LLC  | &nbsp;&nbsp;&nbsp; VMware LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 399000 | &nbsp;&nbsp;&nbsp;&nbsp; 376624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 111380 |
| &nbsp;&nbsp;&nbsp; Workday, Inc. 3.70%, 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 261651 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8177552 |
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp.  | &nbsp;&nbsp;&nbsp; American Tower Corp.  | &nbsp;&nbsp;&nbsp; American Tower Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 244822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 32706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 790000 | &nbsp;&nbsp;&nbsp;&nbsp; 717899 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc.  | &nbsp;&nbsp;&nbsp; Crown Castle, Inc.  | &nbsp;&nbsp;&nbsp; Crown Castle, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 94000 | &nbsp;&nbsp;&nbsp;&nbsp; 93028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp; 290047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 1/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 179000 | &nbsp;&nbsp;&nbsp;&nbsp; 119978 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. 1.80%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 266000 | &nbsp;&nbsp;&nbsp;&nbsp; 256400 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage LP 5.40%, 6/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 720598 |
| &nbsp;&nbsp;&nbsp; Public Storage Operating Co. 5.10%, 8/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 158529 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2634007 |
| **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. 4.00%, 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 331313 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. (The)  | &nbsp;&nbsp;&nbsp; Home Depot, Inc. (The)  | &nbsp;&nbsp;&nbsp; Home Depot, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 837000 | &nbsp;&nbsp;&nbsp;&nbsp; 826157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 9/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1226000 | &nbsp;&nbsp;&nbsp;&nbsp; 1205614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 77115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 12/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 142000 | &nbsp;&nbsp;&nbsp;&nbsp; 98692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/15/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 866000 | &nbsp;&nbsp;&nbsp;&nbsp; 617442 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc.  | &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc.  | &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 747000 | &nbsp;&nbsp;&nbsp;&nbsp; 773959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 103389 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc. 3.90%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 357000 | &nbsp;&nbsp;&nbsp;&nbsp; 353842 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4485359 |
| **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc.  | &nbsp;&nbsp;&nbsp; Apple, Inc.  | &nbsp;&nbsp;&nbsp; Apple, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 9/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 2/8/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 663835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 9/11/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 406000 | &nbsp;&nbsp;&nbsp;&nbsp; 383684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 5/10/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 31599 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Technology Hardware, Storage & Peripherals — continued** | **Technology Hardware, Storage & Peripherals — continued** | **Technology Hardware, Storage & Peripherals — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/13/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1379000 | &nbsp;&nbsp;&nbsp;&nbsp; 1252498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/13/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 16198 |
| &nbsp;&nbsp;&nbsp; Dell International LLC 3.38%, 12/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 126000 | &nbsp;&nbsp;&nbsp;&nbsp; 97050 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. 1.75%, 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 27000 | &nbsp;&nbsp;&nbsp;&nbsp; 26772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2520989 |
| **Textiles, Apparel & Luxury Goods — 0.0% ^** | **Textiles, Apparel & Luxury Goods — 0.0% ^** | **Textiles, Apparel & Luxury Goods — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; NIKE, Inc. 2.38%, 11/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 217174 |
| **Tobacco — 0.2%** | **Tobacco — 0.2%** | **Tobacco — 0.2%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. 5.38%, 1/31/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 658000 | &nbsp;&nbsp;&nbsp;&nbsp; 644617 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. (United Kingdom) | &nbsp;&nbsp;&nbsp; BAT Capital Corp. (United Kingdom) | &nbsp;&nbsp;&nbsp; BAT Capital Corp. (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.42%, 8/2/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 200345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 8/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1391000 | &nbsp;&nbsp;&nbsp;&nbsp; 1287419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.08%, 8/2/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 390367 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc.  | &nbsp;&nbsp;&nbsp; Philip Morris International, Inc.  | &nbsp;&nbsp;&nbsp; Philip Morris International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 283000 | &nbsp;&nbsp;&nbsp;&nbsp; 276075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 23293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/21/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 208604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 103810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3134530 |
| **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. 3.75%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 213000 | &nbsp;&nbsp;&nbsp;&nbsp; 212418 |
| &nbsp;&nbsp;&nbsp; GATX Corp. 4.90%, 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 601000 | &nbsp;&nbsp;&nbsp;&nbsp; 604740 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. 4.20%, 5/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 154000 | &nbsp;&nbsp;&nbsp;&nbsp; 131143 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 948301 |
| **Water Utilities — 0.1%** | **Water Utilities — 0.1%** | **Water Utilities — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Water Capital Corp.  | &nbsp;&nbsp;&nbsp; American Water Capital Corp.  | &nbsp;&nbsp;&nbsp; American Water Capital Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 404000 | &nbsp;&nbsp;&nbsp;&nbsp; 396559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 113533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 142369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 110879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 9/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 38255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 6/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 24604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 5/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 80634 |
| &nbsp;&nbsp;&nbsp; Essential Utilities, Inc. 5.38%, 1/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 41548 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 948381 |
| **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; America Movil SAB de CV (Mexico) 3.63%, 4/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 296449 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc.  | &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc.  | &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 356000 | &nbsp;&nbsp;&nbsp;&nbsp; 337165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 790000 | &nbsp;&nbsp;&nbsp;&nbsp; 793787 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Wireless Telecommunication Services — continued** | **Wireless Telecommunication Services — continued** | **Wireless Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 1583000 | &nbsp;&nbsp;&nbsp;&nbsp; 1440311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 1275000 | &nbsp;&nbsp;&nbsp;&nbsp; 960238 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3852794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $309,864,535)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 313303804 |
| **Foreign Government Securities — 1.7%** | **Foreign Government Securities — 1.7%** | **Foreign Government Securities — 1.7%** |
| &nbsp;&nbsp;&nbsp; Canada Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 4/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 241305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206823 |
| &nbsp;&nbsp;&nbsp; Export Development Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 6/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/14/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 518476 |
| &nbsp;&nbsp;&nbsp; Italian Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 452000 | &nbsp;&nbsp;&nbsp;&nbsp; 434719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/6/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 59999 |
| &nbsp;&nbsp;&nbsp; Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 1/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 760000 | &nbsp;&nbsp;&nbsp;&nbsp; 749075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 58787 |
| &nbsp;&nbsp;&nbsp; Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 4/27/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 64044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 6/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 876000 | &nbsp;&nbsp;&nbsp;&nbsp; 868115 |
| &nbsp;&nbsp;&nbsp; Oriental Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/27/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 254575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 9/10/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 713259 |
| &nbsp;&nbsp;&nbsp; Province of Alberta |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 956000 | &nbsp;&nbsp;&nbsp;&nbsp; 948888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 71879 |
| &nbsp;&nbsp;&nbsp; Province of British Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.90%, 7/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 598563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 7/6/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 659000 | &nbsp;&nbsp;&nbsp;&nbsp; 661496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/12/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp; 335369 |
| &nbsp;&nbsp;&nbsp; Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 5/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 456000 | &nbsp;&nbsp;&nbsp;&nbsp; 452224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.05%, 5/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 47000 | &nbsp;&nbsp;&nbsp;&nbsp; 45239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 9/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/2/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 367000 | &nbsp;&nbsp;&nbsp;&nbsp; 344813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 10/7/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 26501 |
| &nbsp;&nbsp;&nbsp; Province of Quebec 2.75%, 4/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 262000 | &nbsp;&nbsp;&nbsp;&nbsp; 258663 |
| &nbsp;&nbsp;&nbsp; Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 1/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 798000 | &nbsp;&nbsp;&nbsp;&nbsp; 729824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 1/5/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 990000 | &nbsp;&nbsp;&nbsp;&nbsp; 1003047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 9/21/2071 | &nbsp;&nbsp;&nbsp;&nbsp; 603000 | &nbsp;&nbsp;&nbsp;&nbsp; 386081 |
| &nbsp;&nbsp;&nbsp; Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 1/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 906944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 1/11/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 56291 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| &nbsp;&nbsp;&nbsp; Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 1/23/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 4/29/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 393000 | &nbsp;&nbsp;&nbsp;&nbsp; 290287 |
| &nbsp;&nbsp;&nbsp; Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 12/1/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 521000 | &nbsp;&nbsp;&nbsp;&nbsp; 293011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 7/28/2121 | &nbsp;&nbsp;&nbsp;&nbsp; 474000 | &nbsp;&nbsp;&nbsp;&nbsp; 267320 |
| &nbsp;&nbsp;&nbsp; Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 10/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 91847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/2/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 270564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/17/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 493000 | &nbsp;&nbsp;&nbsp;&nbsp; 506176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/5/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1030000 | &nbsp;&nbsp;&nbsp;&nbsp; 1034425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 5/5/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 302115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 12/10/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 692000 | &nbsp;&nbsp;&nbsp;&nbsp; 463788 |
| &nbsp;&nbsp;&nbsp; Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/16/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 19380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 2/12/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 193000 | &nbsp;&nbsp;&nbsp;&nbsp; 201540 |
| &nbsp;&nbsp;&nbsp; State of Israel Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1275000 | &nbsp;&nbsp;&nbsp;&nbsp; 1312980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 1/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp; 213540 |
| &nbsp;&nbsp;&nbsp; Svensk Exportkredit AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 3/22/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp; 210000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/14/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 809000 | &nbsp;&nbsp;&nbsp;&nbsp; 818901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/4/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 380014 |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 4/16/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 723000 | &nbsp;&nbsp;&nbsp;&nbsp; 683787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.66%, 5/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 598000 | &nbsp;&nbsp;&nbsp;&nbsp; 533740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/12/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/27/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 77399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 2/9/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 526949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 1/11/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 260215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 8/14/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 752000 | &nbsp;&nbsp;&nbsp;&nbsp; 609114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/8/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 8320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 1/23/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 319455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/27/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 245086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 5/4/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 338000 | &nbsp;&nbsp;&nbsp;&nbsp; 327778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $22,008,259)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 22436233 |
| **Commercial Mortgage-Backed Securities — 1.3%** | **Commercial Mortgage-Backed Securities — 1.3%** | **Commercial Mortgage-Backed Securities — 1.3%** |
| &nbsp;&nbsp;&nbsp; BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-BNK4, Class ASB, 3.42%, 5/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 6017 | &nbsp;&nbsp;&nbsp;&nbsp; 5985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN16, Class A4, 4.01%, 2/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 59508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN21, Class A5, 2.85%, 10/17/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 56849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN23, Class A3, 2.92%, 12/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 142000 | &nbsp;&nbsp;&nbsp;&nbsp; 134755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN10, Class A5, 3.69%, 2/15/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN19, Class A3, 3.18%, 8/15/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN13, Class C, 4.71%, 8/15/2061 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 440464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN22, Class A4, 2.98%, 11/15/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 247045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN26, Class A4, 2.40%, 3/15/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 459992 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN36, Class A5, 2.47%, 9/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 450228 |
| &nbsp;&nbsp;&nbsp; Bank of America Merrill Lynch Commercial Mortgage Trust Series 2017-BNK3, Class A4, 3.57%, 2/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19834 |
| &nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust Series 2018-C2, Class A5, 4.31%, 12/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39957 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B1, Class A5, 3.67%, 1/15/2051 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B2, Class B, 4.43%, 2/15/2051 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 18451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B5, Class A4, 4.21%, 7/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 109650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B6, Class A2, 4.20%, 10/10/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 28306 | &nbsp;&nbsp;&nbsp;&nbsp; 28162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B8, Class A5, 4.23%, 1/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B11, Class A2, 3.41%, 5/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B31, Class A5, 2.67%, 12/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 539892 |
| &nbsp;&nbsp;&nbsp; Cantor Commercial Real Estate Lending Series 2019-CF2, Class AS, 3.12%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 69527 |
| &nbsp;&nbsp;&nbsp; CD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD6, Class ASB, 3.33%, 11/13/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 7326 | &nbsp;&nbsp;&nbsp;&nbsp; 7270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD6, Class AM, 3.71%, 11/13/2050 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CD7, Class A3, 4.01%, 8/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 380580 | &nbsp;&nbsp;&nbsp;&nbsp; 377995 |
| &nbsp;&nbsp;&nbsp; CFCRE Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C8, Class A4, 3.57%, 6/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C7, Class ASB, 3.64%, 12/10/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 3564 | &nbsp;&nbsp;&nbsp;&nbsp; 3552 |
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust Series 2015-GC29, Class C, 4.11%, 4/10/2048 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 35817 |
| &nbsp;&nbsp;&nbsp; Commercial Mortgage Trust Series 2014-UBS5, Class AM, 4.19%, 9/10/2047 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 14729 | &nbsp;&nbsp;&nbsp;&nbsp; 14528 |
| &nbsp;&nbsp;&nbsp; DBGS Mortgage Trust Series 2018-C1, Class A4, 4.47%, 10/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20016 |
| &nbsp;&nbsp;&nbsp; DBJPM Mortgage Trust Series 2017-C6, Class A5, 3.33%, 6/10/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19788 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K735, Class A2, 2.86%, 5/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 38335 | &nbsp;&nbsp;&nbsp;&nbsp; 38086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K057, Class A2, 2.57%, 7/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 57677 | &nbsp;&nbsp;&nbsp;&nbsp; 57165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K063, Class A1, 3.05%, 8/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7075 | &nbsp;&nbsp;&nbsp;&nbsp; 7032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K072, Class A2, 3.44%, 12/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K084, Class A2, 3.78%, 10/25/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K091, Class A2, 3.51%, 3/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 990405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K097, Class A2, 2.51%, 7/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1910407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K096, Class A2, 2.52%, 7/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 282266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K100, Class A2, 2.67%, 9/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 383388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K102, Class A2, 2.54%, 10/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 381387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K113, Class A2, 1.34%, 6/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 627727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K158, Class A1, 3.90%, 7/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 923615 | &nbsp;&nbsp;&nbsp;&nbsp; 924473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K123, Class A2, 1.62%, 12/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 447934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K125, Class A2, 1.85%, 1/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K127, Class A2, 2.11%, 1/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 548811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K-1512, Class A2, 2.99%, 5/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 71454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K157, Class A2, 3.99%, 5/25/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K156, Class A3, 3.70%, 6/25/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 88185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K-1512, Class A3, 3.06%, 4/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 137169 |
| &nbsp;&nbsp;&nbsp; FNMA ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-M7, Class A2, 2.96%, 2/25/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 251781 | &nbsp;&nbsp;&nbsp;&nbsp; 248933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-M14, Class A2, 2.90%, 11/25/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 7277 | &nbsp;&nbsp;&nbsp;&nbsp; 7139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-M10, Class A2, 3.47%, 7/25/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 38625 | &nbsp;&nbsp;&nbsp;&nbsp; 38244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-M14, Class A2, 3.70%, 8/25/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 409476 | &nbsp;&nbsp;&nbsp;&nbsp; 407154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M1, Class A2, 3.68%, 9/25/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 60139 | &nbsp;&nbsp;&nbsp;&nbsp; 59777 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M22, Class A2, 2.52%, 8/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 567293 | &nbsp;&nbsp;&nbsp;&nbsp; 542498 |
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-GC24, Class AS, 4.16%, 9/10/2047 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 140882 | &nbsp;&nbsp;&nbsp;&nbsp; 137277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-GS9, Class A4, 3.99%, 3/10/2051 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198451 |
| &nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-C12, Class C, 4.07%, 7/15/2045 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 8980 | &nbsp;&nbsp;&nbsp;&nbsp; 8669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C29, Class B, 4.12%, 5/15/2048 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 16752 | &nbsp;&nbsp;&nbsp;&nbsp; 16700 |
| &nbsp;&nbsp;&nbsp; JPMCC Commercial Mortgage Securities Trust Series 2017-JP5, Class A5, 3.72%, 3/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 597352 |
| &nbsp;&nbsp;&nbsp; JPMDB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2, Class B, 3.99%, 6/15/2049 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 17894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C5, Class B, 4.01%, 3/15/2050 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 16481 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C22, Class AS, 3.56%, 4/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C31, Class A5, 3.10%, 11/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 444142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C32, Class A4, 3.72%, 12/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 292270 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-UB12, Class A3, 3.34%, 12/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 498320 | &nbsp;&nbsp;&nbsp;&nbsp; 492061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H1, Class C, 4.28%, 6/15/2050 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L2, Class A4, 4.07%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L3, Class A4, 3.13%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95661 |
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C2, Class A4, 3.49%, 8/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 692731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C4, Class ASB, 3.37%, 10/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 12684 | &nbsp;&nbsp;&nbsp;&nbsp; 12594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C5, Class AS, 3.78%, 11/15/2050 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 67906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C7, Class AS, 4.06%, 12/15/2050 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49114 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C38, Class A5, 3.45%, 7/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 493346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C45, Class A3, 3.92%, 6/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 35929 | &nbsp;&nbsp;&nbsp;&nbsp; 35610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C53, Class A4, 3.04%, 10/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 119470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C55, Class A5, 2.73%, 2/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $17,166,835)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 16689359 |
| **Supranational — 1.2%** | **Supranational — 1.2%** | **Supranational — 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; African Development Bank (Supranational) <br>4.63%, 1/4/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp; 86000 | &nbsp;&nbsp;&nbsp;&nbsp; 86853 |
| &nbsp;&nbsp;&nbsp; African Export-Import Bank (The) (Supranational) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 106528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/12/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 252000 | &nbsp;&nbsp;&nbsp;&nbsp; 260381 |
| &nbsp;&nbsp;&nbsp; Asian Development Bank (Supranational) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 4/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 12903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 1/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 45225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/14/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 6/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 528000 | &nbsp;&nbsp;&nbsp;&nbsp; 499193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 4/27/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 64000 | &nbsp;&nbsp;&nbsp;&nbsp; 61493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/12/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50399 |
| &nbsp;&nbsp;&nbsp; Asian Infrastructure Investment Bank (The) (Supranational) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/18/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 28255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/21/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 926000 | &nbsp;&nbsp;&nbsp;&nbsp; 960548 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Supranational — continued** | **Supranational — continued** | **Supranational — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corp. Andina de Fomento (Supranational) <br>6.00%, 4/26/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp; 862000 | &nbsp;&nbsp;&nbsp;&nbsp; 886597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Council of Europe Development Bank (Supranational) <br>0.88%, 9/22/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 434841 |
| &nbsp;&nbsp;&nbsp; European Investment Bank (Supranational) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 4/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 10933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 5/24/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 35272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 542000 | &nbsp;&nbsp;&nbsp;&nbsp; 545196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 535000 | &nbsp;&nbsp;&nbsp;&nbsp; 534720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 9/23/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1395000 | &nbsp;&nbsp;&nbsp;&nbsp; 1219097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/10/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 827080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 631000 | &nbsp;&nbsp;&nbsp;&nbsp; 627047 |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank (Supranational) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 715000 | &nbsp;&nbsp;&nbsp;&nbsp; 720709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 312000 | &nbsp;&nbsp;&nbsp;&nbsp; 314909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inter-American Investment Corp. (Supranational) <br>4.13%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1649000 | &nbsp;&nbsp;&nbsp;&nbsp; 1665796 |
| &nbsp;&nbsp;&nbsp; International Bank for Reconstruction & Development (Supranational) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 4/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 253958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 9/13/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2190000 | &nbsp;&nbsp;&nbsp;&nbsp; 2051246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 341000 | &nbsp;&nbsp;&nbsp;&nbsp; 318288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/14/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 971000 | &nbsp;&nbsp;&nbsp;&nbsp; 980552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 5/14/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 189000 | &nbsp;&nbsp;&nbsp;&nbsp; 167778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 2/10/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 314298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 11/3/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 776000 | &nbsp;&nbsp;&nbsp;&nbsp; 688463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/28/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 11907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Finance Corp. (Supranational) <br>2.13%, 4/7/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 4969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Supranational <br>(Cost $15,269,111)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 15500102 |
| **U.S. Government Agency Securities — 0.6%** | **U.S. Government Agency Securities — 0.6%** | **U.S. Government Agency Securities — 0.6%** |
| &nbsp;&nbsp;&nbsp; FFCB Funding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.84%, 2/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 46953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.12%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 32628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.23%, 9/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 31933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.68%, 4/29/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 50201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.23%, 7/29/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 194000 | &nbsp;&nbsp;&nbsp;&nbsp; 172770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 8/12/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 82285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.24%, 9/3/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 114433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.32%, 9/9/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 373000 | &nbsp;&nbsp;&nbsp;&nbsp; 331902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.24%, 12/23/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 105600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 1/14/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 119288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 2/3/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 109823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.23%, 3/12/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 9969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.69%, 8/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 8598 |
| &nbsp;&nbsp;&nbsp; FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 1192683 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **U.S. Government Agency Securities — continued** | **U.S. Government Agency Securities — continued** | **U.S. Government Agency Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 6/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39751 |
| &nbsp;&nbsp;&nbsp; FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.90%, 10/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 61680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 12/14/2029 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 1494000 | &nbsp;&nbsp;&nbsp;&nbsp; 1287920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 91726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA <br>6.25%, 5/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1029000 | &nbsp;&nbsp;&nbsp;&nbsp; 1118763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Israel Government AID Bond (Israel) <br>5.50%, 9/18/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp; 436000 | &nbsp;&nbsp;&nbsp;&nbsp; 472718 |
| &nbsp;&nbsp;&nbsp; Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 7/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 1369143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 575378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 169000 | &nbsp;&nbsp;&nbsp;&nbsp; 171651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/1/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Government Agency Securities <br>(Cost $7,559,553)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 7608104 |
| **Municipal Bonds — 0.4% (h)** | **Municipal Bonds — 0.4% (h)** | **Municipal Bonds — 0.4% (h)** |
| **Arizona — 0.1%** | **Arizona — 0.1%** | **Arizona — 0.1%** |
| &nbsp;&nbsp;&nbsp; City of Tucson, Taxable Series 2021A, COP, A.G., 2.86%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 865000 | &nbsp;&nbsp;&nbsp;&nbsp; 623346 |
| **California — 0.2%** | **California — 0.2%** | **California — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bay Area Toll Authority, Toll Bridge Series 2010S-1, Rev., 6.92%, 4/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 23018 |
| &nbsp;&nbsp;&nbsp; California State University, Systemwide Series 2021B, Rev., 2.72%, 11/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 930000 | &nbsp;&nbsp;&nbsp;&nbsp; 605580 |
| &nbsp;&nbsp;&nbsp; East Bay Municipal Utility District, Water System Series 2010B, Rev., 5.87%, 6/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 166515 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Series 2021B, Rev., 3.29%, 6/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 382797 |
| &nbsp;&nbsp;&nbsp; Regents of the University of California, Medical Center Pooled Series 2010H, Rev., 6.55%, 5/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 43474 |
| &nbsp;&nbsp;&nbsp; State of California, Various Purpose |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GO, 7.50%, 4/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 158929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GO, 7.55%, 4/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1718269 |
| &nbsp;&nbsp;&nbsp; Total California |  | &nbsp;&nbsp;&nbsp;&nbsp; 3098582 |
| **Connecticut — 0.0% ^** | **Connecticut — 0.0% ^** | **Connecticut — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; State of Connecticut Series A, GO, 5.85%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 81025 |
| **Florida — 0.0% ^** | **Florida — 0.0% ^** | **Florida — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; State Board of Administration Finance Corp. Series 2020A, Rev., 2.15%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 147000 | &nbsp;&nbsp;&nbsp;&nbsp; 135692 |
| **Illinois — 0.0% ^** | **Illinois — 0.0% ^** | **Illinois — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Chicago O'Hare International Airport, General Airport, Senior Lien Series 2018C, Rev., 4.47%, 1/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 22345 |
| &nbsp;&nbsp;&nbsp; Metropolitan Water Reclamation District of Greater Chicago, GO, 5.72%, 12/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 58288 |
| &nbsp;&nbsp;&nbsp; Sales Tax Securitization Corp. Series 2019A, Rev., 4.64%, 1/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 54235 |
| &nbsp;&nbsp;&nbsp; State of Illinois, GO, 5.10%, 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 357745 | &nbsp;&nbsp;&nbsp;&nbsp; 366670 |
| &nbsp;&nbsp;&nbsp; Total Illinois |  | &nbsp;&nbsp;&nbsp;&nbsp; 501538 |
| **New Jersey — 0.0% ^** | **New Jersey — 0.0% ^** | **New Jersey — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, Pension Funding Series 1997A, Rev., NATL - RE, 7.43%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 36620 |
| &nbsp;&nbsp;&nbsp; New Jersey Turnpike Authority Series 2009F, Rev., 7.41%, 1/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 302520 |
| &nbsp;&nbsp;&nbsp; Total New Jersey |  | &nbsp;&nbsp;&nbsp;&nbsp; 339140 |
| **New York — 0.0% ^** | **New York — 0.0% ^** | **New York — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Port Authority of New York and New Jersey, Consolidated Series 192, Rev., 4.81%, 10/15/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 109631 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Municipal Bonds — continued** | **Municipal Bonds — continued** | **Municipal Bonds — continued** |
| **Ohio — 0.0% ^** | **Ohio — 0.0% ^** | **Ohio — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; American Municipal Power, Inc., Combined Hydroelectric Projects Series 2010A, Rev., 7.83%, 2/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 29925 |
| **Texas — 0.0% ^** | **Texas — 0.0% ^** | **Texas — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Grand Parkway Transportation Corp., System Toll Series 2020B, Rev., 3.24%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 70784 |
| &nbsp;&nbsp;&nbsp; Permanent University Fund - Texas A&M University System Series 2017B, Rev., 3.66%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 276149 |
| &nbsp;&nbsp;&nbsp; State of Texas, Transportation Commission Highway Improvement Series 2010A, GO, 4.68%, 4/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 44217 |
| &nbsp;&nbsp;&nbsp; State of Texas, Transportation Commission Mobility Fund Series 2009A, GO, 5.52%, 4/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 112477 | &nbsp;&nbsp;&nbsp;&nbsp; 117369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas Private Activity Bond Surface Transportation Corp., North Tarrant Express Managed Lanes Project, Mobility <br> Partners LLC Series 2019B, Rev., 3.92%, 12/31/2049<br>| &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 97002 |
| &nbsp;&nbsp;&nbsp; Total Texas |  | &nbsp;&nbsp;&nbsp;&nbsp; 605521 |
| **Virginia — 0.1%** | **Virginia — 0.1%** | **Virginia — 0.1%** |
| &nbsp;&nbsp;&nbsp; University of Virginia Series 2020, Rev., 2.26%, 9/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1070000 | &nbsp;&nbsp;&nbsp;&nbsp; 638011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Bonds <br>(Cost $7,191,033)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 6162411 |
| **Asset-Backed Securities — 0.4%** | **Asset-Backed Securities — 0.4%** | **Asset-Backed Securities — 0.4%** |
| &nbsp;&nbsp;&nbsp; American Express Credit Account Master Trust Series 2023-3, Class A, 5.23%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1161836 |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC Series 2022-4A, Class A, 4.77%, 2/20/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1111473 |
| &nbsp;&nbsp;&nbsp; Capital One Multi-Asset Execution Trust Series 2019-A3, Class A3, 2.06%, 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394776 |
| &nbsp;&nbsp;&nbsp; CarMax Auto Owner Trust Series 2022-1, Class A4, 1.70%, 8/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 320676 | &nbsp;&nbsp;&nbsp;&nbsp; 318490 |
| &nbsp;&nbsp;&nbsp; Citibank Credit Card Issuance Trust Series 2018-A7, Class A7, 3.96%, 10/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100290 |
| &nbsp;&nbsp;&nbsp; Federal Express Corp. Pass-Through Trust Series 2020-1, Class AA, 1.88%, 2/20/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 7326 | &nbsp;&nbsp;&nbsp;&nbsp; 6410 |
| &nbsp;&nbsp;&nbsp; Ford Credit Floorplan Master Owner Trust Series 2018-4, Class A, 4.06%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 601388 |
| &nbsp;&nbsp;&nbsp; Porsche Innovative Lease Owner Trust Series 2025-1A, Class A4, 4.69%, 11/20/2030 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 660305 |
| &nbsp;&nbsp;&nbsp; SBNA Auto Lease Trust Series 2025-A, Class A4, 4.87%, 7/20/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 670000 | &nbsp;&nbsp;&nbsp;&nbsp; 676650 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2018-1, Class AA, 3.50%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 37735 | &nbsp;&nbsp;&nbsp;&nbsp; 36397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $5,059,426)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 5068015 |
|  | **SHARES** |  |
| **Short-Term Investments — 2.5%** | **Short-Term Investments — 2.5%** | **Short-Term Investments — 2.5%** |
| **Investment Companies — 2.5%** | **Investment Companies — 2.5%** | **Investment Companies — 2.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.95% (i) (j) <br>(Cost $32,808,462)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32808462 | &nbsp;&nbsp;&nbsp;&nbsp; 32808462 |
| **Total Investments — 101.7%** <br>**(Cost $1,344,738,414)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **1331955741** |
| **Liabilities in Excess of Other Assets — (1.7)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(22295408)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1309660333** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages indicated are based on net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| A.G. | Insured by Assured Guaranty Inc. |
| ACES | Alternative Credit Enhancement Securities |
| CME | Chicago Mercantile Exchange |
| COP | Certificate of Participation |
| FFCB | Federal Farm Credit Bank |
| FHLB | Federal Home Loan Bank |
| FHLMC | Federal Home Loan Mortgage Corp. |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | |
|:---|:---|
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation |
| NATL | Insured by National Public Finance Guarantee Corp. |
| RE | Reinsured |
| REIT | Real Estate Investment Trust |
| Rev. | Revenue |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced; Security is subject to delayed delivery. |
| UMBS | Uniform Mortgage-Backed Securities |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| (a) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. |
| (b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of November 30, 2025. |
| (c) | Contingent Capital security ("CoCo"). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a <br> pre-specified trigger event occurs. The total value of aggregate CoCo holdings at November 30, 2025 is $536,043 or 0.04% of the Fund's <br> net assets as of November 30, 2025.<br>|
| (d) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a <br> predetermined trigger. The interest rate shown is the current rate as of November 30, 2025. <br>|
| (e) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments <br> on the underlying pool of assets. The interest rate shown is the current rate as of November 30, 2025. <br>|
| (f) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (g) | The rate shown is the effective yield as of November 30, 2025.  |
| (h) | The date shown represents the earliest of the prerefunded date, next put date or final maturity date. |
| (i) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan <br> Investment Management Inc.<br>|
| (j) | The rate shown is the current yield as of November 30, 2025. |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**A. Valuation of Investments**— Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under Securities and Exchange Commission Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as "Pricing Services"). The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Investments in open-end investment companies ("Underlying Funds") are valued at each Underlying Fund's net asset values per share as of the report date.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.

• Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following table represents each valuation input as presented on the Schedule of Portfolio Investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5068015 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5068015 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16689359 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16689359 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 313303804 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 313303804 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22436233 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22436233 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 314043714 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 314043714 |
| Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6162411 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6162411 |

---

------

**JPMorgan BetaBuilders U.S. Aggregate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| Supranational | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $15500102 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $15500102 |
| U.S. Government Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7608104 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7608104 |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 598335537 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 598335537 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 32808462 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32808462 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $32808462 | &nbsp;&nbsp;&nbsp;&nbsp; $1299147279 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1331955741 |

---

**B. Investment Transactions with Affiliates**— The Fund invested in Underlying Funds advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. The Underlying Funds' distributions may be reinvested into such Underlying Funds. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2025**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**November 30,** <br>**2025**<br>| **Shares at** <br>**November 30,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending <br> Money Market Fund Agency <br> SL Class Shares, 4.05% <br> (a) (b)<br>| $2350866 | $11381283 | $13732149 | $— | $— | $— |  | $38165 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government <br> Money Market Fund Class IM <br> Shares, 3.95% (a) (b)<br>| 55052585 | 214410369 | 236654492 |  |  | 32808462 | 32808462 | 1511135 |  |
| **Total** | $57403451 | $225791652 | $250386641 | $— | $— | $32808462 |  | $1549300 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of November 30, 2025.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** J.P. Morgan Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-22903

- **c. CIK number of Registrant:** 0001485894

- **d. LEI of Registrant:** 5493001E1K1DVWDV2464

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

  - **Street Address 1:** 390 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 844-457-6383

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

- **a. Name of Series:** JPMorgan BetaBuilders U.S. Aggregate Bond ETF

- **b. EDGAR series identifier (if any):** S000063668

- **c. LEI of Series:** 549300Y7I30NRICF3S33

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

- **a. Date of fiscal year-end:** 2026-02-28

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1334931532.64

**Total Liabilities:** $25264613.23

**Net Assets:** $1309666919.41

**Cash Not Reported:** $945580.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 38.57844000 | **1-Year:** 21753.23543000 | **5-Year:** 123461.31583000 | **10-Year:** 169049.77929000 | **30-Year:** 92742.06223000

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

- **3-Month:** 0.23777000 | **1-Year:** 6.68639000 | **5-Year:** 116.07545000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000206282 | 1.08%                | 0.63%                | 0.61%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-349796.52              | $9499954.01                                |
| Month 2  | $-91987.88               | $3648243.63                                |
| Month 3  | $-1336532.97             | $5001677.77                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                                  | Title                                                                                                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AEP Texas, Inc.                                                       | AEP Texas, Inc.                                                                                                                            | CUSIP: 00108WAQ3<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12083.86     | 0.00%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Aon Global Ltd.                                                       | Aon Global Ltd.                                                                                                                            | CUSIP: 00185AAG9<br>LEI: VVT2B79I2Z4U3R6BY589 | Long             | DBT              | CORP              | GB        |    385000 | PA      | $340963.36    | 0.03%             | 2044-06-14      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RBA9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13141.46     | 0.00%             | 2041-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RBK7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     15000 | PA      | $12627.93     | 0.00%             | 2045-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    589000 | PA      | $572581.63    | 0.04%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RDF6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     51000 | PA      | $53788.28     | 0.00%             | 2040-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RDJ8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     15000 | PA      | $12649.80     | 0.00%             | 2048-03-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RFW7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    198000 | PA      | $194970.50    | 0.01%             | 2037-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RGQ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    121000 | PA      | $121666.96    | 0.01%             | 2030-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RHJ4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     88000 | PA      | $88515.18     | 0.01%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RHK1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    327000 | PA      | $314997.38    | 0.02%             | 2039-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97478.34     | 0.01%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RKB7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    182000 | PA      | $129105.35    | 0.01%             | 2060-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RKD3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     26000 | PA      | $19344.22     | 0.00%             | 2043-02-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RKF8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     85000 | PA      | $55595.09     | 0.00%             | 2061-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RKG6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    455000 | PA      | $432720.35    | 0.03%             | 2028-02-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     46000 | PA      | $40581.64     | 0.00%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    150000 | PA      | $102658.71    | 0.01%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    161000 | PA      | $114365.51    | 0.01%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                   | Abbott Laboratories                                                                                                                        | CUSIP: 002819AC4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    326000 | PA      | $369394.37    | 0.03%             | 2037-11-30      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                   | Abbott Laboratories                                                                                                                        | CUSIP: 002824BP4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    677000 | PA      | $641393.84    | 0.05%             | 2028-01-30      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                   | Abbott Laboratories                                                                                                                        | CUSIP: 002824BQ2<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    194000 | PA      | $174044.07    | 0.01%             | 2030-06-30      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                          | AbbVie, Inc.                                                                                                                               | CUSIP: 00287YAR0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104248.37    | 0.01%             | 2035-05-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                          | AbbVie, Inc.                                                                                                                               | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     21000 | PA      | $18600.46     | 0.00%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                          | AbbVie, Inc.                                                                                                                               | CUSIP: 00287YBV0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    624000 | PA      | $618309.65    | 0.05%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                          | AbbVie, Inc.                                                                                                                               | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    506000 | PA      | $457593.16    | 0.03%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                          | AbbVie, Inc.                                                                                                                               | CUSIP: 00287YCZ0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    846000 | PA      | $782638.33    | 0.06%             | 2042-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                          | AbbVie, Inc.                                                                                                                               | CUSIP: 00287YDA4<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    649000 | PA      | $613315.01    | 0.05%             | 2044-06-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Adobe, Inc.                                                           | Adobe, Inc.                                                                                                                                | CUSIP: 00724PAC3<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34373.40     | 0.00%             | 2027-02-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                            | AerCap Ireland Capital DAC                                                                                                                 | CUSIP: 00774MAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    566000 | PA      | $561609.96    | 0.04%             | 2027-07-21      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                            | AerCap Ireland Capital DAC                                                                                                                 | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1351000 | PA      | $1252697.16   | 0.10%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.                                          | Advanced Micro Devices, Inc.                                                                                                               | CUSIP: 007903BF3<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |    267000 | PA      | $262829.76    | 0.02%             | 2032-06-01      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Affiliated Managers Group, Inc.                                       | Affiliated Managers Group, Inc.                                                                                                            | CUSIP: 008252AR9<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102701.53    | 0.01%             | 2034-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| African Development Bank                                              | African Development Bank                                                                                                                   | CUSIP: 00828EEY1<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | US        |     86000 | PA      | $86853.34     | 0.01%             | 2027-01-04      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| African Export-Import Bank (The)                                      | African Export-Import Bank (The)                                                                                                           | CUSIP: 00828EFF1<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | US        |    105000 | PA      | $106527.52    | 0.01%             | 2030-03-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| African Export-Import Bank (The)                                      | African Export-Import Bank (The)                                                                                                           | CUSIP: 00828EFJ3<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | US        |    252000 | PA      | $260381.12    | 0.02%             | 2035-06-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                       | Air Lease Corp.                                                                                                                            | CUSIP: 00914AAB8<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    213000 | PA      | $212418.35    | 0.02%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Alabama Power Co.                                                     | Alabama Power Co., Series B                                                                                                                | CUSIP: 010392FR4<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |     72000 | PA      | $55741.41     | 0.00%             | 2047-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Alabama Power Co.                                                     | Alabama Power Co.                                                                                                                          | CUSIP: 010392FT0<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |    400000 | PA      | $291274.59    | 0.02%             | 2049-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Alabama Power Co.                                                     | Alabama Power Co.                                                                                                                          | CUSIP: 010392FV5<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |    310000 | PA      | $209408.34    | 0.02%             | 2051-07-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Province of Alberta Canada                                            | Province of Alberta                                                                                                                        | CUSIP: 013051EA1<br>LEI: LQPXMHHNJKIPJYE53543 | Long             | DBT              | NUSS              | CA        |    956000 | PA      | $948887.53    | 0.07%             | 2028-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Province of Alberta Canada                                            | Province of Alberta                                                                                                                        | CUSIP: 013051EV5<br>LEI: LQPXMHHNJKIPJYE53543 | Long             | DBT              | NUSS              | CA        |     70000 | PA      | $71878.98     | 0.01%             | 2029-06-26      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Alcan, Inc.                                                 | Rio Tinto Alcan, Inc.                                                                                                                      | CUSIP: 013716AQ8<br>LEI: 2138007ZSQ7B17SKOX77 | Long             | DBT              | CORP              | CA        |    191000 | PA      | $218931.98    | 0.02%             | 2031-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                 | Alexandria Real Estate Equities, Inc.                                                                                                      | CUSIP: 015271AU3<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |    475000 | PA      | $482841.67    | 0.04%             | 2030-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                 | Alexandria Real Estate Equities, Inc.                                                                                                      | CUSIP: 015271AZ2<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6809.08      | 0.00%             | 2052-03-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                                            | Alibaba Group Holding Ltd.                                                                                                                 | CUSIP: 01609WAZ5<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    260000 | PA      | $181947.30    | 0.01%             | 2051-02-09      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                                            | Alibaba Group Holding Ltd.                                                                                                                 | CUSIP: 01609WBA9<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    269000 | PA      | $179699.58    | 0.01%             | 2061-02-09      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Alleghany Corp.                                                       | Alleghany Corp.                                                                                                                            | CUSIP: 017175AF7<br>LEI: 549300DCJE6AYX159479 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6909.97      | 0.00%             | 2051-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                         | FNMA/FHLMC UMBS, Single Family, 15 Year                                                                                                    | CUSIP: 01F0124C7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1826000 | PA      | $1645206.21   | 0.13%             | 2040-12-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 15 Year                                                                                                    | CUSIP: 01F0304C9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     78000 | PA      | $75046.93     | 0.01%             | 2040-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0306C7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1309000 | PA      | $1162411.74   | 0.09%             | 2055-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0326C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    211000 | PA      | $195142.45    | 0.01%             | 2055-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0406C6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1052000 | PA      | $1001857.15   | 0.08%             | 2055-12-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0426C2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1742000 | PA      | $1705156.14   | 0.13%             | 2055-12-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0506C5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3727000 | PA      | $3719083.48   | 0.28%             | 2055-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0526C1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1526000 | PA      | $1545236.80   | 0.12%             | 2055-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA/FHLMC                                                            | FNMA/FHLMC UMBS, Single Family, 30 Year                                                                                                    | CUSIP: 01F0606C4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3123000 | PA      | $3197480.90   | 0.24%             | 2055-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Allstate Corp. (The)                                                  | Allstate Corp. (The)                                                                                                                       | CUSIP: 020002BA8<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |     55000 | PA      | $48981.00     | 0.00%             | 2043-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Allstate Corp. (The)                                                  | Allstate Corp. (The)                                                                                                                       | CUSIP: 020002BD2<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    386000 | PA      | $383412.06    | 0.03%             | 2026-12-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                  | Ally Financial, Inc.                                                                                                                       | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    675000 | PA      | $634519.91    | 0.05%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                                        | Alphabet, Inc.                                                                                                                             | CUSIP: 02079KAG2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1401000 | PA      | $748304.21    | 0.06%             | 2060-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                                        | Alphabet, Inc.                                                                                                                             | CUSIP: 02079KAJ6<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    856000 | PA      | $817108.86    | 0.06%             | 2027-08-15      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                    | Altria Group, Inc.                                                                                                                         | CUSIP: 02209SAR4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    658000 | PA      | $644616.35    | 0.05%             | 2044-01-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                      | Amazon.com, Inc.                                                                                                                           | CUSIP: 023135BC9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    724000 | PA      | $717691.15    | 0.05%             | 2027-08-22      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                      | Amazon.com, Inc.                                                                                                                           | CUSIP: 023135BJ4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1366000 | PA      | $1149063.07   | 0.09%             | 2047-08-22      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                      | Amazon.com, Inc.                                                                                                                           | CUSIP: 023135BU9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    568000 | PA      | $330340.77    | 0.03%             | 2060-06-03      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Ameren Corp.                                                          | Ameren Corp.                                                                                                                               | CUSIP: 023608AK8<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |   1822000 | PA      | $1728576.39   | 0.13%             | 2028-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| America Movil SAB de CV                                               | America Movil SAB de CV                                                                                                                    | CUSIP: 02364WBH7<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |    302000 | PA      | $296448.77    | 0.02%             | 2029-04-22      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| American Assets Trust LP                                              | American Assets Trust LP                                                                                                                   | CUSIP: 02401LAA2<br>LEI: 549300V1TI0SMG9Z6U69 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45817.40     | 0.00%             | 2031-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                     | American Electric Power Co., Inc.                                                                                                          | CUSIP: 025537AN1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    410000 | PA      | $378810.44    | 0.03%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                     | American Electric Power Co., Inc.                                                                                                          | CUSIP: 025537AX9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     72000 | PA      | $76117.71     | 0.01%             | 2033-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                     | American Electric Power Co., Inc.                                                                                                          | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10495.87     | 0.00%             | 2054-12-15      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                  | American Express Co.                                                                                                                       | CUSIP: 025816CM9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1749000 | PA      | $1713575.34   | 0.13%             | 2026-11-04      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                  | American Express Co.                                                                                                                       | CUSIP: 025816DA4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9969.63      | 0.00%             | 2033-08-03      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                  | American Express Co.                                                                                                                       | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    180000 | PA      | $181545.92    | 0.01%             | 2027-07-28      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                  | American Express Co.                                                                                                                       | CUSIP: 025816DK2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    260000 | PA      | $273156.96    | 0.02%             | 2034-07-28      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust                          | American Express Credit Account Master Trust, Series 2023-3, Class A                                                                       | CUSIP: 02582JKD1<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   1150000 | PA      | $1161836.08   | 0.09%             | 2028-09-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                                          | American Honda Finance Corp.                                                                                                               | CUSIP: 02665WDW8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |     96000 | PA      | $91713.01     | 0.01%             | 2028-03-24      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                                          | American Honda Finance Corp.                                                                                                               | CUSIP: 02665WEB3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |     36000 | PA      | $34040.99     | 0.00%             | 2029-01-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent LP                                              | American Homes 4 Rent LP                                                                                                                   | CUSIP: 02666TAB3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24456.70     | 0.00%             | 2029-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| American International Group, Inc.                                    | American International Group, Inc.                                                                                                         | CUSIP: 026874DC8<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    104000 | PA      | $97967.23     | 0.01%             | 2035-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| American Municipal Power, Inc.                                        | American Municipal Power, Inc., Combined Hydroelectric Projects, Series 2010A                                                              | CUSIP: 02765UEJ9<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |     25000 | PA      | $29924.61     | 0.00%             | 2041-02-15      | Fixed         | 7.83%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                  | American Tower Corp.                                                                                                                       | CUSIP: 03027XAP5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32705.81     | 0.00%             | 2027-07-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                  | American Tower Corp.                                                                                                                       | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    790000 | PA      | $717898.77    | 0.05%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                  | American Tower Corp.                                                                                                                       | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244821.89    | 0.02%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WAJ4<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    162000 | PA      | $142368.97    | 0.01%             | 2042-12-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WAP0<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    135000 | PA      | $110879.31    | 0.01%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WAR6<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |     49000 | PA      | $38254.92     | 0.00%             | 2047-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WAU9<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    404000 | PA      | $396558.75    | 0.03%             | 2029-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WAV7<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |     30000 | PA      | $24603.87     | 0.00%             | 2049-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WAX3<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    111000 | PA      | $80634.33     | 0.01%             | 2050-05-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                                          | American Water Capital Corp.                                                                                                               | CUSIP: 03040WBA2<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    113000 | PA      | $113532.59    | 0.01%             | 2032-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                                         | Cencora, Inc.                                                                                                                              | CUSIP: 03073EAT2<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    852000 | PA      | $787948.73    | 0.06%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162BE9<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     26000 | PA      | $24898.26     | 0.00%             | 2041-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162BK5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    800000 | PA      | $784267.22    | 0.06%             | 2041-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162CD0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13060.72     | 0.00%             | 2048-06-15      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162CJ7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9898.66      | 0.00%             | 2026-08-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162CQ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    650000 | PA      | $641093.75    | 0.05%             | 2027-11-02      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162CW8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1304000 | PA      | $1183686.13   | 0.09%             | 2031-02-25      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     30000 | PA      | $22210.17     | 0.00%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                           | Amgen, Inc.                                                                                                                                | CUSIP: 031162DC1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     18000 | PA      | $11952.19     | 0.00%             | 2052-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                                        | Amphenol Corp.                                                                                                                             | CUSIP: 032095AH4<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15176.30     | 0.00%             | 2029-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                                        | Amphenol Corp.                                                                                                                             | CUSIP: 032095AL5<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44823.90     | 0.00%             | 2031-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Analog Devices, Inc.                                                  | Analog Devices, Inc.                                                                                                                       | CUSIP: 032654AX3<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |     58000 | PA      | $38363.98     | 0.00%             | 2051-10-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Cos. LLC                                               | Anheuser-Busch Cos. LLC                                                                                                                    | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89000 | PA      | $89045.47     | 0.01%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                  | Anheuser-Busch InBev Worldwide, Inc.                                                                                                       | CUSIP: 03523TBY3<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    494000 | PA      | $513607.90    | 0.04%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                  | Anheuser-Busch InBev Worldwide, Inc.                                                                                                       | CUSIP: 035240AQ3<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |     46000 | PA      | $47053.78     | 0.00%             | 2029-01-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                  | Anheuser-Busch InBev Worldwide, Inc.                                                                                                       | CUSIP: 035240AR1<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    425000 | PA      | $441682.78    | 0.03%             | 2031-01-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                  | Anheuser-Busch InBev Worldwide, Inc.                                                                                                       | CUSIP: 035240AV2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    166000 | PA      | $162581.30    | 0.01%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                 | Elevance Health, Inc.                                                                                                                      | CUSIP: 036752AB9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     93000 | PA      | $92360.43     | 0.01%             | 2027-12-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                 | Elevance Health, Inc.                                                                                                                      | CUSIP: 036752AD5<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    320000 | PA      | $268537.75    | 0.02%             | 2047-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                 | Elevance Health, Inc.                                                                                                                      | CUSIP: 036752AW3<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1106000 | PA      | $1166979.54   | 0.09%             | 2032-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Aon Corp.                                                             | Aon Corp.                                                                                                                                  | CUSIP: 03740LAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $11378.45     | 0.00%             | 2052-02-28      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Aon North America, Inc.                                               | Aon North America, Inc.                                                                                                                    | CUSIP: 03740MAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25295.68     | 0.00%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APA Corp.                                                             | APA Corp.                                                                                                                                  | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    303000 | PA      | $306196.08    | 0.02%             | 2055-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| APA Corp.                                                             | APA Corp.                                                                                                                                  | CUSIP: 03743QBG2<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    448000 | PA      | $378440.72    | 0.03%             | 2049-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management, Inc.                                        | Apollo Global Management, Inc.                                                                                                             | CUSIP: 03769MAD8<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |    464000 | PA      | $455201.97    | 0.03%             | 2054-12-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                           | Apple, Inc.                                                                                                                                | CUSIP: 037833BH2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   1379000 | PA      | $1252497.42   | 0.10%             | 2045-05-13      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                           | Apple, Inc.                                                                                                                                | CUSIP: 037833DB3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49353.17     | 0.00%             | 2027-09-12      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                           | Apple, Inc.                                                                                                                                | CUSIP: 037833DG2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16197.43     | 0.00%             | 2047-11-13      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                           | Apple, Inc.                                                                                                                                | CUSIP: 037833DP2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    406000 | PA      | $383683.75    | 0.03%             | 2029-09-11      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                           | Apple, Inc.                                                                                                                                | CUSIP: 037833EC0<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    700000 | PA      | $663835.42    | 0.05%             | 2028-02-08      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                           | Apple, Inc.                                                                                                                                | CUSIP: 037833EV8<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31599.30     | 0.00%             | 2033-05-10      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Aptiv Swiss Holdings Ltd.                                             | Aptiv Swiss Holdings Ltd.                                                                                                                  | CUSIP: 03835VAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    814000 | PA      | $530102.67    | 0.04%             | 2051-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                                      | ArcelorMittal SA                                                                                                                           | CUSIP: 03938LBC7<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |     40000 | PA      | $40112.55     | 0.00%             | 2029-07-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                                      | ArcelorMittal SA                                                                                                                           | CUSIP: 03938LBE3<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |     86000 | PA      | $89510.62     | 0.01%             | 2027-11-29      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                                                    | Ares Capital Corp.                                                                                                                         | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    497000 | PA      | $489613.05    | 0.04%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                                               | Arrow Electronics, Inc.                                                                                                                    | CUSIP: 04273WAC5<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |     96000 | PA      | $86181.00     | 0.01%             | 2032-02-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Ascension Health                                                      | Ascension Health, Series B                                                                                                                 | CUSIP: 04352EAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $181125.59    | 0.01%             | 2039-11-15      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167DN0<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |     13000 | PA      | $12903.37     | 0.00%             | 2026-04-24      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167DU4<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |     25000 | PA      | $24718.89     | 0.00%             | 2027-01-12      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167FF5<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |    528000 | PA      | $499193.28    | 0.04%             | 2028-06-09      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167FV0<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |     50000 | PA      | $50398.64     | 0.00%             | 2033-01-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167GA5<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |     45000 | PA      | $45224.53     | 0.00%             | 2027-01-12      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167GJ6<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |     50000 | PA      | $50876.01     | 0.00%             | 2028-01-14      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Asian Infrastructure Investment Bank (The)                            | Asian Infrastructure Investment Bank (The)                                                                                                 | CUSIP: 04522KAJ5<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | US        |     28000 | PA      | $28255.15     | 0.00%             | 2028-01-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Asian Infrastructure Investment Bank (The)                            | Asian Infrastructure Investment Bank (The)                                                                                                 | CUSIP: 04522KAQ9<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | US        |    926000 | PA      | $960547.88    | 0.07%             | 2035-05-21      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Astrazeneca Finance LLC                                               | Astrazeneca Finance LLC                                                                                                                    | CUSIP: 04636NAE3<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2189659.46   | 0.17%             | 2028-05-28      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                            | AT&T, Inc.                                                                                                                                 | CUSIP: 04650NAB0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     97000 | PA      | $96606.19     | 0.01%             | 2040-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd.                                                   | Athene Holding Ltd.                                                                                                                        | CUSIP: 04686JAC5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    242000 | PA      | $229268.26    | 0.02%             | 2031-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd.                                                   | Athene Holding Ltd.                                                                                                                        | CUSIP: 04686JAJ0<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170623.17    | 0.01%             | 2054-10-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                                                    | Atmos Energy Corp.                                                                                                                         | CUSIP: 049560AL9<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |     71000 | PA      | $61219.49     | 0.00%             | 2043-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                                                    | Atmos Energy Corp.                                                                                                                         | CUSIP: 049560AQ8<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    300000 | PA      | $245266.68    | 0.02%             | 2049-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                                                    | Atmos Energy Corp.                                                                                                                         | CUSIP: 049560AR6<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11410.14     | 0.00%             | 2029-09-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                                                    | Atmos Energy Corp.                                                                                                                         | CUSIP: 049560AY1<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103555.21    | 0.01%             | 2052-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AutoZone, Inc.                                                        | AutoZone, Inc.                                                                                                                             | CUSIP: 053332AZ5<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    334000 | PA      | $331313.31    | 0.03%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AvalonBay Communities, Inc.                                           | AvalonBay Communities, Inc.                                                                                                                | CUSIP: 053484AC5<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              | CORP              | US        |    990000 | PA      | $933155.72    | 0.07%             | 2028-12-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| AvalonBay Communities, Inc.                                           | AvalonBay Communities, Inc.                                                                                                                | CUSIP: 05348EAX7<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10945.83     | 0.00%             | 2026-05-11      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AvalonBay Communities, Inc.                                           | AvalonBay Communities, Inc.                                                                                                                | CUSIP: 05348EBG3<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              | CORP              | US        |    122000 | PA      | $113219.12    | 0.01%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                              | Avis Budget Rental Car Funding AESOP LLC, Series 2022-4A, Class A                                                                          | CUSIP: 05377RFP4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1111473.12   | 0.08%             | 2029-02-20      | Fixed         | 4.77%                 | Yes           |                  2 | On Loan: No      |
| Avista Corp.                                                          | Avista Corp.                                                                                                                               | CUSIP: 05379BAR8<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | DBT              | CORP              | US        |     27000 | PA      | $21142.07     | 0.00%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Avnet, Inc.                                                           | Avnet, Inc.                                                                                                                                | CUSIP: 053807AU7<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |    634000 | PA      | $575532.72    | 0.04%             | 2031-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                                | AXA SA                                                                                                                                     | CUSIP: 054536AA5<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |    110000 | PA      | $130187.78    | 0.01%             | 2030-12-15      | Fixed         | 8.60%                 | No            |                  2 | On Loan: No      |
| Equitable Holdings, Inc.                                              | Equitable Holdings, Inc.                                                                                                                   | CUSIP: 054561AJ4<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |     92000 | PA      | $92381.33     | 0.01%             | 2028-04-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Equitable Holdings, Inc.                                              | Equitable Holdings, Inc.                                                                                                                   | CUSIP: 054561AM7<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18144.63     | 0.00%             | 2048-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AXIS Specialty Finance LLC                                            | AXIS Specialty Finance LLC                                                                                                                 | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $221836.99    | 0.02%             | 2040-01-15      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                  | BBCMS Mortgage Trust, Series 2018-C2, Class A5                                                                                             | CUSIP: 05491UBD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40000 | PA      | $39956.60     | 0.00%             | 2051-12-15      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                     | BAT Capital Corp.                                                                                                                          | CUSIP: 054989AB4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    181000 | PA      | $200344.97    | 0.02%             | 2033-08-02      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                     | BAT Capital Corp.                                                                                                                          | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    345000 | PA      | $390367.04    | 0.03%             | 2043-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                     | BAT Capital Corp.                                                                                                                          | CUSIP: 05526DBD6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1391000 | PA      | $1287419.23   | 0.10%             | 2037-08-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                | Truist Financial Corp.                                                                                                                     | CUSIP: 05531GAB7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     89000 | PA      | $88063.60     | 0.01%             | 2029-03-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                                | BP Capital Markets plc                                                                                                                     | CUSIP: 05565QDN5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     30000 | PA      | $29712.56     | 0.00%             | 2027-09-19      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                               | BPCE SA                                                                                                                                    | CUSIP: 05578DAX0<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    260000 | PA      | $258426.94    | 0.02%             | 2026-12-02      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Baltimore Gas and Electric Co.                                        | Baltimore Gas and Electric Co.                                                                                                             | CUSIP: 059165EJ5<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |    264000 | PA      | $207054.12    | 0.02%             | 2047-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                    | Banco Santander SA                                                                                                                         | CUSIP: 05964HAV7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $446423.88    | 0.03%             | 2033-08-08      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                    | Banco Santander SA                                                                                                                         | CUSIP: 05964HBG9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $210789.66    | 0.02%             | 2031-07-15      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                    | Banco Santander SA                                                                                                                         | CUSIP: 05964HBJ3<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $209002.45    | 0.02%             | 2030-01-17      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                    | Banco Santander SA                                                                                                                         | CUSIP: 05971KAC3<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $194567.73    | 0.01%             | 2029-06-27      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                    | Banco Santander SA                                                                                                                         | CUSIP: 05971KAG4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $365241.87    | 0.03%             | 2030-12-03      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GFC8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1937000 | PA      | $1907525.54   | 0.15%             | 2044-01-21      | 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        |    417000 | PA      | $417564.13    | 0.03%             | 2026-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GGL7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    575000 | PA      | $572097.18    | 0.04%             | 2028-04-24      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GGR4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    752000 | PA      | $746118.70    | 0.06%             | 2028-07-21      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GHQ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    693000 | PA      | $689860.42    | 0.05%             | 2030-02-07      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GJM2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    830000 | PA      | $540558.71    | 0.04%             | 2051-10-24      | Variable      | 2.83%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp., Series N                                                                                                            | CUSIP: 06051GJP5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1604000 | PA      | $1479129.41   | 0.11%             | 2032-03-11      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    960000 | PA      | $914417.72    | 0.07%             | 2029-06-14      | Variable      | 2.09%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GKJ7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    293000 | PA      | $287848.07    | 0.02%             | 2028-02-04      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GKL2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    346000 | PA      | $327234.87    | 0.02%             | 2037-03-08      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    487000 | PA      | $489139.12    | 0.04%             | 2033-04-27      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    240000 | PA      | $246789.61    | 0.02%             | 2033-07-22      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                 | Bank of America Corp.                                                                                                                      | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24798.77     | 0.00%             | 2035-10-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                   | Bank of New York Mellon Corp. (The), Series J                                                                                              | CUSIP: 06406RBR7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2171000 | PA      | $2226283.97   | 0.17%             | 2034-04-26      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                             | Bank of Nova Scotia (The)                                                                                                                  | CUSIP: 06417XAE1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    224000 | PA      | $200504.31    | 0.02%             | 2032-02-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                             | Bank of Nova Scotia (The)                                                                                                                  | CUSIP: 06417XAG6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    130000 | PA      | $126979.34    | 0.01%             | 2037-05-04      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                             | Bank of Nova Scotia (The)                                                                                                                  | CUSIP: 06417XAP6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102560.83    | 0.01%             | 2030-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                             | Bank of Nova Scotia (The)                                                                                                                  | CUSIP: 06418GAD9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    306000 | PA      | $315533.00    | 0.02%             | 2028-06-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Merrill Lynch Commercial Mortgage Trust               | Bank of America Merrill Lynch Commercial Mortgage Trust, Series 2017-BNK3, Class A4                                                        | CUSIP: 06427DAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $19834.20     | 0.00%             | 2050-02-15      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2018-BN13, Class C                                                                                                            | CUSIP: 06539LBG4<br>LEI: 549300664283JRAXM588 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $440464.13    | 0.03%             | 2061-08-15      | Variable      | 4.71%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2018-BN10, Class A5                                                                                                           | CUSIP: 065404BB0<br>LEI: 549300GL0Y86051URC66 | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $19790.80     | 0.00%             | 2061-02-15      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2019-BN16, Class A4                                                                                                           | CUSIP: 065405AE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     60000 | PA      | $59507.98     | 0.00%             | 2052-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2019-BN21, Class A5                                                                                                           | CUSIP: 06540BBD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     60000 | PA      | $56849.29     | 0.00%             | 2052-10-17      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2021-BN36, Class A5                                                                                                           | CUSIP: 06540DBH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $450227.80    | 0.03%             | 2064-09-15      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2020-BN26, Class A4                                                                                                           | CUSIP: 06540JBG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $459992.42    | 0.04%             | 2063-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2019-BN19, Class A3                                                                                                           | CUSIP: 06540WBD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $95027.01     | 0.01%             | 2061-08-15      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2019-BN22, Class A4                                                                                                           | CUSIP: 06540XBG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $247045.47    | 0.02%             | 2062-11-15      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2017-BNK4, Class ASB                                                                                                          | CUSIP: 06541FAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6017 | PA      | $5984.83      | 0.00%             | 2050-05-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| BANK                                                                  | BANK, Series 2019-BN23, Class A3                                                                                                           | CUSIP: 06541RBB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    142000 | PA      | $134755.00    | 0.01%             | 2052-12-15      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| BankUnited, Inc.                                                      | BankUnited, Inc.                                                                                                                           | CUSIP: 06652KAB9<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50170.03     | 0.00%             | 2030-06-11      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Baptist Health South Florida Obligated Group                          | Baptist Health South Florida Obligated Group, Series 2021                                                                                  | CUSIP: 066836AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $198962.29    | 0.02%             | 2071-11-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                          | Barclays plc                                                                                                                               | CUSIP: 06738EAV7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    390000 | PA      | $362475.85    | 0.03%             | 2047-01-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                          | Barclays plc                                                                                                                               | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1361000 | PA      | $1369178.06   | 0.10%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                          | Barclays plc                                                                                                                               | CUSIP: 06738ECA1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    754000 | PA      | $796199.00    | 0.06%             | 2033-08-09      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                          | Barclays plc                                                                                                                               | CUSIP: 06738ECV5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $255581.43    | 0.02%             | 2035-09-10      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Baxter International, Inc.                                            | Baxter International, Inc.                                                                                                                 | CUSIP: 071813BP3<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    510000 | PA      | $370259.36    | 0.03%             | 2046-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Baxter International, Inc.                                            | Baxter International, Inc.                                                                                                                 | CUSIP: 071813CB3<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |   1241000 | PA      | $1064106.74   | 0.08%             | 2031-04-01      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| Baxter International, Inc.                                            | Baxter International, Inc.                                                                                                                 | CUSIP: 071813CP2<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    364000 | PA      | $342641.25    | 0.03%             | 2028-12-01      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                               | Bay Area Toll Authority, Toll Bridge, Series 2010S-1                                                                                       | CUSIP: 072024NU2<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |     20000 | PA      | $23017.76     | 0.00%             | 2040-04-01      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson & Co.                                                | Becton Dickinson & Co.                                                                                                                     | CUSIP: 075887CP2<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    128000 | PA      | $126551.04    | 0.01%             | 2032-08-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2018-B5, Class A4                                                                                         | CUSIP: 08160BAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110000 | PA      | $109649.90    | 0.01%             | 2051-07-15      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2018-B2, Class B                                                                                          | CUSIP: 08161CAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $18451.36     | 0.00%             | 2051-02-15      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2019-B11, Class A2                                                                                        | CUSIP: 08162BBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2052 | PA      | $1989.74      | 0.00%             | 2052-05-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2018-B6, Class A2                                                                                         | CUSIP: 08162CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     28306 | PA      | $28162.18     | 0.00%             | 2051-10-10      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2018-B1, Class A5                                                                                         | CUSIP: 08162PAX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     50000 | PA      | $49425.87     | 0.00%             | 2051-01-15      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2018-B8, Class A5                                                                                         | CUSIP: 08162UAW0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40000 | PA      | $39553.72     | 0.00%             | 2052-01-15      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                              | Benchmark Mortgage Trust, Series 2021-B31, Class A5                                                                                        | CUSIP: 08163MAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $539892.40    | 0.04%             | 2054-12-15      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Co.                                         | Berkshire Hathaway Energy Co.                                                                                                              | CUSIP: 084659AP6<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    781000 | PA      | $599674.42    | 0.05%             | 2048-07-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Co.                                         | Berkshire Hathaway Energy Co.                                                                                                              | CUSIP: 084659BC4<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    576000 | PA      | $365271.48    | 0.03%             | 2051-05-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Co.                                         | Berkshire Hathaway Energy Co.                                                                                                              | CUSIP: 084659BD2<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    229000 | PA      | $199952.94    | 0.02%             | 2031-05-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Finance Corp.                                      | Berkshire Hathaway Finance Corp.                                                                                                           | CUSIP: 084664CX7<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    500000 | PA      | $306698.33    | 0.02%             | 2051-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Berry Global, Inc.                                                    | Berry Global, Inc.                                                                                                                         | CUSIP: 08576BAB8<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    608000 | PA      | $644470.64    | 0.05%             | 2031-06-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Black Hills Corp.                                                     | Black Hills Corp.                                                                                                                          | CUSIP: 092113AV1<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    496000 | PA      | $514119.05    | 0.04%             | 2028-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                        | Blackstone Private Credit Fund                                                                                                             | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    334000 | PA      | $328148.01    | 0.03%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Blue Owl Finance LLC                                                  | Blue Owl Finance LLC                                                                                                                       | CUSIP: 09581JAU0<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |     54000 | PA      | $37617.13     | 0.00%             | 2051-10-07      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                      | Boeing Co. (The)                                                                                                                           | CUSIP: 097023BX2<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1143000 | PA      | $1119158.46   | 0.09%             | 2028-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                      | Boeing Co. (The)                                                                                                                           | CUSIP: 097023BY0<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1226000 | PA      | $1037863.94   | 0.08%             | 2038-03-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                      | Boeing Co. (The)                                                                                                                           | CUSIP: 097023CH6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    131000 | PA      | $130325.58    | 0.01%             | 2026-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                      | Boeing Co. (The)                                                                                                                           | CUSIP: 097023CJ2<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    637000 | PA      | $581127.54    | 0.04%             | 2034-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                      | Boeing Co. (The)                                                                                                                           | CUSIP: 097023CQ6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     33000 | PA      | $24437.57     | 0.00%             | 2050-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Bon Secours Mercy Health, Inc.                                        | Bon Secours Mercy Health, Inc.                                                                                                             | CUSIP: 09778PAA3<br>LEI: 5493006NA7JSVYYYF398 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48906.11     | 0.00%             | 2030-06-01      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| BorgWarner, Inc.                                                      | BorgWarner, Inc.                                                                                                                           | CUSIP: 099724AL0<br>LEI: 549300DSFX2IE88NSX47 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9790.20      | 0.00%             | 2027-07-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                  | Boston Properties LP                                                                                                                       | CUSIP: 10112RBC7<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84381.91     | 0.01%             | 2030-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                  | Boston Properties LP                                                                                                                       | CUSIP: 10112RBD5<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    893000 | PA      | $837170.41    | 0.06%             | 2031-01-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                  | Boston Properties LP                                                                                                                       | CUSIP: 10112RBE3<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    560000 | PA      | $488403.22    | 0.04%             | 2032-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp.                                               | Boston Scientific Corp.                                                                                                                    | CUSIP: 101137AS6<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50162.59     | 0.00%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp.                                               | Boston Scientific Corp.                                                                                                                    | CUSIP: 101137AT4<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48223.65     | 0.00%             | 2039-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                      | BP Capital Markets America, Inc.                                                                                                           | CUSIP: 10373QAT7<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100000.00    | 0.01%             | 2026-05-04      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                      | BP Capital Markets America, Inc.                                                                                                           | CUSIP: 10373QBG4<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    605000 | PA      | $403651.36    | 0.03%             | 2050-02-24      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                      | BP Capital Markets America, Inc.                                                                                                           | CUSIP: 10373QBT6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1108000 | PA      | $1013030.79   | 0.08%             | 2032-01-12      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                      | BP Capital Markets America, Inc.                                                                                                           | CUSIP: 10373QBU3<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50895.86     | 0.00%             | 2033-02-13      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Brighthouse Financial, Inc.                                           | Brighthouse Financial, Inc.                                                                                                                | CUSIP: 10922NAH6<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $93490.12     | 0.01%             | 2051-12-22      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                              | Bristol-Myers Squibb Co.                                                                                                                   | CUSIP: 110122AX6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |     80000 | PA      | $71871.86     | 0.01%             | 2044-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                              | Bristol-Myers Squibb Co.                                                                                                                   | CUSIP: 110122CR7<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   1019000 | PA      | $854308.37    | 0.07%             | 2049-10-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                              | Bristol-Myers Squibb Co.                                                                                                                   | CUSIP: 110122DS4<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    476000 | PA      | $288793.46    | 0.02%             | 2050-11-13      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                              | Bristol-Myers Squibb Co.                                                                                                                   | CUSIP: 110122DX3<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |     41000 | PA      | $30357.02     | 0.00%             | 2062-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                              | Bristol-Myers Squibb Co.                                                                                                                   | CUSIP: 110122EJ3<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254701.00    | 0.02%             | 2044-02-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                              | Bristol-Myers Squibb Co.                                                                                                                   | CUSIP: 110122EK0<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504254.71    | 0.04%             | 2054-02-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Province of British Columbia Canada                                   | Province of British Columbia                                                                                                               | CUSIP: 110709AH5<br>LEI: 54930058TO7MEKUHWL16 | Long             | DBT              | NUSS              | CA        |    610000 | PA      | $598563.08    | 0.05%             | 2026-07-20      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Province of British Columbia Canada                                   | Province of British Columbia                                                                                                               | CUSIP: 110709AN2<br>LEI: 54930058TO7MEKUHWL16 | Long             | DBT              | NUSS              | CA        |    324000 | PA      | $335368.73    | 0.03%             | 2034-06-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Province of British Columbia Canada                                   | Province of British Columbia                                                                                                               | CUSIP: 11070TAM0<br>LEI: 54930058TO7MEKUHWL16 | Long             | DBT              | NUSS              | CA        |    659000 | PA      | $661496.33    | 0.05%             | 2033-07-06      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                        | Broadcom, Inc.                                                                                                                             | CUSIP: 11135FAL5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130517.23    | 0.01%             | 2028-09-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                        | Broadcom, Inc.                                                                                                                             | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    200000 | PA      | $175165.04    | 0.01%             | 2035-11-15      | Fixed         | 3.14%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                                        | Broadcom, Inc.                                                                                                                             | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1291000 | PA      | $1295951.72   | 0.10%             | 2037-05-15      | Fixed         | 4.93%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                                        | Broadcom, Inc.                                                                                                                             | CUSIP: 11135FCR0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    203000 | PA      | $180593.28    | 0.01%             | 2033-02-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance, Inc.                                              | Brookfield Finance, Inc.                                                                                                                   | CUSIP: 11271LAE2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $10041.80     | 0.00%             | 2030-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                   | Brown & Brown, Inc.                                                                                                                        | CUSIP: 115236AB7<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    253000 | PA      | $253977.53    | 0.02%             | 2029-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Brunswick Corp.                                                       | Brunswick Corp.                                                                                                                            | CUSIP: 117043AU3<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |    404000 | PA      | $386126.75    | 0.03%             | 2032-09-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                      | Burlington Northern Santa Fe LLC                                                                                                           | CUSIP: 12189TAZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $22440.12     | 0.00%             | 2037-05-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                     | CD Mortgage Trust, Series 2017-CD6, Class ASB                                                                                              | CUSIP: 125039AD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7326 | PA      | $7270.36      | 0.00%             | 2050-11-13      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                     | CD Mortgage Trust, Series 2017-CD6, Class AM                                                                                               | CUSIP: 125039AH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     30000 | PA      | $29396.77     | 0.00%             | 2050-11-13      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| Cboe Global Markets, Inc.                                             | Cboe Global Markets, Inc.                                                                                                                  | CUSIP: 12503MAC2<br>LEI: 529900RLNSGA90UPEH54 | Long             | DBT              | CORP              | US        |     11000 | PA      | $9755.11      | 0.00%             | 2030-12-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                     | CD Mortgage Trust, Series 2018-CD7, Class A3                                                                                               | CUSIP: 12512JAV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380580 | PA      | $377994.70    | 0.03%             | 2051-08-15      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate Lending                                 | Cantor Commercial Real Estate Lending, Series 2019-CF2, Class AS                                                                           | CUSIP: 12528YAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     75000 | PA      | $69527.28     | 0.01%             | 2052-11-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trust                                       | CFCRE Commercial Mortgage Trust, Series 2016-C7, Class ASB                                                                                 | CUSIP: 12532BAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3564 | PA      | $3551.63      | 0.00%             | 2054-12-10      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trust                                       | CFCRE Commercial Mortgage Trust, Series 2017-C8, Class A4                                                                                  | CUSIP: 12532CBA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     30000 | PA      | $29631.77     | 0.00%             | 2050-06-15      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| CI Financial Corp.                                                    | CI Financial Corp.                                                                                                                         | CUSIP: 125491AN0<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |    745000 | PA      | $672202.15    | 0.05%             | 2030-12-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                                     | Cigna Group (The)                                                                                                                          | CUSIP: 125523CQ1<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    275000 | PA      | $193563.32    | 0.01%             | 2051-03-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CME Group, Inc.                                                       | CME Group, Inc.                                                                                                                            | CUSIP: 12572QAH8<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | DBT              | CORP              | US        |     90000 | PA      | $76983.68     | 0.01%             | 2048-06-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp.                                                      | CMS Energy Corp.                                                                                                                           | CUSIP: 125896BN9<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16230.51     | 0.00%             | 2044-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                             | Commercial Mortgage Trust, Series 2014-UBS5, Class AM                                                                                      | CUSIP: 12592KBE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14729 | PA      | $14527.87     | 0.00%             | 2047-09-10      | Variable      | 4.19%                 | No            |                  2 | On Loan: No      |
| CNA Financial Corp.                                                   | CNA Financial Corp.                                                                                                                        | CUSIP: 126117AV2<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24758.14     | 0.00%             | 2029-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CNA Financial Corp.                                                   | CNA Financial Corp.                                                                                                                        | CUSIP: 126117AX8<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |     26000 | PA      | $27044.07     | 0.00%             | 2033-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CSX Corp.                                                             | CSX Corp.                                                                                                                                  | CUSIP: 126408HK2<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |     34000 | PA      | $28935.85     | 0.00%             | 2048-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650BR0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    168000 | PA      | $177292.41    | 0.01%             | 2039-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    570000 | PA      | $571359.09    | 0.04%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28544.03     | 0.00%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    246000 | PA      | $220994.45    | 0.02%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650DF4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178470.48    | 0.01%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13525.71     | 0.00%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650DK3<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    555000 | PA      | $479379.49    | 0.04%             | 2040-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650DM9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104891.39    | 0.01%             | 2027-08-21      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1386000 | PA      | $1231920.93   | 0.09%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650DR8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    411000 | PA      | $361708.30    | 0.03%             | 2031-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                      | CVS Health Corp.                                                                                                                           | CUSIP: 126650EA4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    149000 | PA      | $147066.61    | 0.01%             | 2063-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | State of California, Various Purpose                                                                                                       | CUSIP: 13063A5E0<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    135000 | PA      | $158929.40    | 0.01%             | 2034-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | State of California, Various Purpose                                                                                                       | CUSIP: 13063A5G5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1718269.29   | 0.13%             | 2039-04-01      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| California State University                                           | California State University, Systemwide, Series 2021B                                                                                      | CUSIP: 13077DRW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $605579.84    | 0.05%             | 2052-11-01      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Canada                                                                | Canada Government Bond                                                                                                                     | CUSIP: 135087Q56<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |    240000 | PA      | $241304.99    | 0.02%             | 2028-04-26      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Canadian National Railway Co.                                         | Canadian National Railway Co.                                                                                                              | CUSIP: 136375DJ8<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $27446.42     | 0.00%             | 2053-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd.                                       | Canadian Natural Resources Ltd.                                                                                                            | CUSIP: 136385AL5<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    202000 | PA      | $216829.64    | 0.02%             | 2038-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                          | Canadian Pacific Railway Co.                                                                                                               | CUSIP: 13645RBE3<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    310000 | PA      | $303150.19    | 0.02%             | 2026-12-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                          | Canadian Pacific Railway Co.                                                                                                               | CUSIP: 13648TAH0<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    414000 | PA      | $317114.02    | 0.02%             | 2069-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                           | Capital One Financial Corp.                                                                                                                | CUSIP: 14040HBK0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1172000 | PA      | $1168333.41   | 0.09%             | 2026-07-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                           | Capital One Financial Corp.                                                                                                                | CUSIP: 14040HBW4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    307000 | PA      | $305294.86    | 0.02%             | 2028-01-31      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Capital One Multi-Asset Execution Trust                               | Capital One Multi-Asset Execution Trust, Series 2019-A3, Class A3                                                                          | CUSIP: 14041NFV8<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $394775.79    | 0.03%             | 2028-08-15      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| Carlisle Cos., Inc.                                                   | Carlisle Cos., Inc.                                                                                                                        | CUSIP: 142339AL4<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    117000 | PA      | $102113.49    | 0.01%             | 2032-03-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                               | CarMax Auto Owner Trust, Series 2022-1, Class A4                                                                                           | CUSIP: 14317CAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320675 | PA      | $318489.63    | 0.02%             | 2027-08-16      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp.                                                  | Carrier Global Corp.                                                                                                                       | CUSIP: 14448CAP9<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    321000 | PA      | $315154.02    | 0.02%             | 2027-02-15      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp.                                                  | Carrier Global Corp.                                                                                                                       | CUSIP: 14448CAS3<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     44000 | PA      | $32997.41     | 0.00%             | 2050-04-05      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| Case Western Reserve University                                       | Case Western Reserve University, Series 22-C                                                                                               | CUSIP: 14745XAA6<br>LEI: 2YXI7YIWYFWZG3QHF204 | Long             | DBT              | CORP              | US        |     32000 | PA      | $30341.39     | 0.00%             | 2122-06-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Caterpillar, Inc.                                                     | Caterpillar, Inc.                                                                                                                          | CUSIP: 149123CD1<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |     60000 | PA      | $53428.97     | 0.00%             | 2044-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Caterpillar, Inc.                                                     | Caterpillar, Inc.                                                                                                                          | CUSIP: 149123CE9<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |    876000 | PA      | $787496.12    | 0.06%             | 2064-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.                                  | Caterpillar Financial Services Corp.                                                                                                       | CUSIP: 14913R2G1<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   1342000 | PA      | $1281962.23   | 0.10%             | 2027-09-14      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                   | CommonSpirit Health                                                                                                                        | CUSIP: 14916RAD6<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21795.57     | 0.00%             | 2042-11-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                         | Centene Corp.                                                                                                                              | CUSIP: 15135BAZ4<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |     15000 | PA      | $12859.64     | 0.00%             | 2031-08-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy, Inc.                                                  | Cenovus Energy, Inc.                                                                                                                       | CUSIP: 15135UAP4<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |    342000 | PA      | $334163.78    | 0.03%             | 2037-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy, Inc.                                                  | Cenovus Energy, Inc.                                                                                                                       | CUSIP: 15135UAW9<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |    228000 | PA      | $203116.91    | 0.02%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy, Inc.                                              | CenterPoint Energy, Inc.                                                                                                                   | CUSIP: 15189TAX5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     27000 | PA      | $25607.99     | 0.00%             | 2030-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Resources Corp.                                    | CenterPoint Energy Resources Corp.                                                                                                         | CUSIP: 15189WAS9<br>LEI: 2JADVB0458J06WCD4N56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103805.49    | 0.01%             | 2034-07-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Houston Electric LLC                               | CenterPoint Energy Houston Electric LLC, Series K2                                                                                         | CUSIP: 15189XAD0<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     15000 | PA      | $17114.55     | 0.00%             | 2033-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Houston Electric LLC                               | CenterPoint Energy Houston Electric LLC, Series ai.                                                                                        | CUSIP: 15189XAZ1<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49966.09     | 0.00%             | 2032-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Houston Electric LLC                               | CenterPoint Energy Houston Electric LLC                                                                                                    | CUSIP: 15189XBD9<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     73000 | PA      | $75395.73     | 0.01%             | 2028-10-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    324000 | PA      | $311005.14    | 0.02%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175BM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    255000 | PA      | $236728.07    | 0.02%             | 2038-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $152633.43    | 0.01%             | 2031-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    611000 | PA      | $373409.04    | 0.03%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175CD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     31000 | PA      | $28847.96     | 0.00%             | 2029-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175CG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    243000 | PA      | $149339.34    | 0.01%             | 2062-06-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                  | Charter Communications Operating LLC                                                                                                       | CUSIP: 161175CL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    774000 | PA      | $622905.60    | 0.05%             | 2063-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                                                   | Expand Energy Corp.                                                                                                                        | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155887.77    | 0.01%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Chevron USA, Inc.                                                     | Chevron USA, Inc.                                                                                                                          | CUSIP: 166756AL0<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    258000 | PA      | $246597.07    | 0.02%             | 2027-08-12      | Fixed         | 1.02%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago            | Metropolitan Water Reclamation District of Greater Chicago                                                                                 | CUSIP: 167560PL9<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |     55000 | PA      | $58288.33     | 0.00%             | 2038-12-01      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                  | Chicago O'Hare International Airport, General Airport, Senior Lien, Series 2018C                                                           | CUSIP: 167593H62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $22345.00     | 0.00%             | 2049-01-01      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| Republic of Chile                                                     | Republic of Chile                                                                                                                          | CUSIP: 168863DP0<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    798000 | PA      | $729823.52    | 0.06%             | 2031-01-31      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Republic of Chile                                                     | Republic of Chile                                                                                                                          | CUSIP: 168863DU9<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    603000 | PA      | $386081.32    | 0.03%             | 2071-09-21      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Republic of Chile                                                     | Republic of Chile                                                                                                                          | CUSIP: 168863DZ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    990000 | PA      | $1003047.04   | 0.08%             | 2036-01-05      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Chubb INA Holdings LLC                                                | Chubb INA Holdings LLC                                                                                                                     | CUSIP: 171239AJ5<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |    358000 | PA      | $224954.39    | 0.02%             | 2061-12-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Church & Dwight Co., Inc.                                             | Church & Dwight Co., Inc.                                                                                                                  | CUSIP: 17136MAC6<br>LEI: POOXSI30AWAQGYJZC921 | Long             | DBT              | CORP              | US        |    260000 | PA      | $277540.53    | 0.02%             | 2032-11-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                   | Cisco Systems, Inc.                                                                                                                        | CUSIP: 17275RAD4<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    853000 | PA      | $930097.98    | 0.07%             | 2039-02-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                   | Cisco Systems, Inc.                                                                                                                        | CUSIP: 17275RBR2<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128532.96    | 0.01%             | 2029-02-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967FX4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     43000 | PA      | $45698.68     | 0.00%             | 2042-01-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967KU4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    139000 | PA      | $139030.50    | 0.01%             | 2028-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967LJ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $946765.73    | 0.07%             | 2048-04-24      | Variable      | 4.28%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967LP4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    259000 | PA      | $257250.74    | 0.02%             | 2028-07-24      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967ME8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    739000 | PA      | $733601.50    | 0.06%             | 2030-03-20      | Variable      | 3.98%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    769000 | PA      | $770471.15    | 0.06%             | 2031-03-31      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1812000 | PA      | $1682501.12   | 0.13%             | 2031-06-03      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     38000 | PA      | $36366.93     | 0.00%             | 2033-03-17      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254599.96    | 0.02%             | 2033-05-24      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1123110.09   | 0.09%             | 2033-11-17      | Variable      | 6.27%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75556.79     | 0.01%             | 2028-05-07      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| Citibank Credit Card Issuance Trust                                   | Citibank Credit Card Issuance Trust, Series 2018-A7, Class A7                                                                              | CUSIP: 17305EGS8<br>LEI: R8AG6FXVDQAMDKCSJJ64 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100290.42    | 0.01%             | 2030-10-13      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                   | Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C                                                                             | CUSIP: 17323VBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40000 | PA      | $35816.60     | 0.00%             | 2048-04-10      | Variable      | 4.11%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                       | Citigroup, Inc.                                                                                                                            | CUSIP: 17327CAW3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76070.98     | 0.01%             | 2029-03-04      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| Clorox Co. (The)                                                      | Clorox Co. (The)                                                                                                                           | CUSIP: 189054AY5<br>LEI: 54930044KVSC06Z79I06 | Long             | DBT              | CORP              | US        |    219000 | PA      | $221420.95    | 0.02%             | 2029-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                   | Coca-Cola Co. (The)                                                                                                                        | CUSIP: 191216CU2<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    104000 | PA      | $100635.40    | 0.01%             | 2027-06-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                   | Coca-Cola Co. (The)                                                                                                                        | CUSIP: 191216CV0<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |   1184000 | PA      | $1073135.46   | 0.08%             | 2030-06-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                   | Coca-Cola Co. (The)                                                                                                                        | CUSIP: 191216CW8<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |     71000 | PA      | $53522.09     | 0.00%             | 2040-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                   | Coca-Cola Co. (The)                                                                                                                        | CUSIP: 191216CX6<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |   1564000 | PA      | $991376.07    | 0.08%             | 2050-06-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                   | Coca-Cola Co. (The)                                                                                                                        | CUSIP: 191216CY4<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $60300.97     | 0.00%             | 2060-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                                             | Coca-Cola Femsa SAB de CV                                                                                                                  | CUSIP: 191241AJ7<br>LEI: 5493008KEVFYPMGTXO33 | Long             | DBT              | CORP              | MX        |   1085000 | PA      | $913845.04    | 0.07%             | 2032-09-01      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NBW0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    220000 | PA      | $216154.37    | 0.02%             | 2027-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NBY6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133924.23    | 0.01%             | 2027-02-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NCG4<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $37452.35     | 0.00%             | 2052-11-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NCH2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    323000 | PA      | $320136.74    | 0.02%             | 2028-05-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NCY5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    735000 | PA      | $584150.67    | 0.04%             | 2039-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NDA6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23561.76     | 0.00%             | 2030-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NDL2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    350000 | PA      | $208860.72    | 0.02%             | 2051-01-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NDP3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    456000 | PA      | $247961.22    | 0.02%             | 2052-08-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                         | Comcast Corp.                                                                                                                              | CUSIP: 20030NEE7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    541000 | PA      | $547688.50    | 0.04%             | 2033-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Conagra Brands, Inc.                                                  | Conagra Brands, Inc.                                                                                                                       | CUSIP: 205887CD2<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    247000 | PA      | $238684.97    | 0.02%             | 2038-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Concentrix Corp.                                                      | Concentrix Corp.                                                                                                                           | CUSIP: 20602DAB7<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196070.85    | 0.01%             | 2028-08-02      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Connecticut Light and Power Co. (The)                                 | Connecticut Light and Power Co. (The)                                                                                                      | CUSIP: 207597EP6<br>LEI: 549300O45IUXEDS1VZ32 | Long             | DBT              | CORP              | US        |    158000 | PA      | $152109.58    | 0.01%             | 2053-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                  | State of Connecticut, Series A                                                                                                             | CUSIP: 20772GF45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $81025.31     | 0.01%             | 2032-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Burlington Resources LLC                                              | Burlington Resources LLC                                                                                                                   | CUSIP: 20825VAB8<br>LEI: 0FJ5X7MVCTSE8OEPQE56 | Long             | DBT              | CORP              | US        |    170000 | PA      | $185059.78    | 0.01%             | 2036-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips Co.                                                    | ConocoPhillips Co.                                                                                                                         | CUSIP: 20826FAC0<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    152000 | PA      | $131096.65    | 0.01%             | 2044-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Co. of New York, Inc.                             | Consolidated Edison Co. of New York, Inc.                                                                                                  | CUSIP: 209111FW8<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $856019.37    | 0.07%             | 2059-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                   | Constellation Energy Generation LLC                                                                                                        | CUSIP: 210385AC4<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    314000 | PA      | $336563.60    | 0.03%             | 2033-03-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Consumers Energy Co.                                                  | Consumers Energy Co.                                                                                                                       | CUSIP: 210518CZ7<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |    927000 | PA      | $685096.01    | 0.05%             | 2046-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Consumers Energy Co.                                                  | Consumers Energy Co.                                                                                                                       | CUSIP: 210518DE3<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38632.41     | 0.00%             | 2050-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Consumers Energy Co.                                                  | Consumers Energy Co.                                                                                                                       | CUSIP: 210518DF0<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |    129000 | PA      | $88313.67     | 0.01%             | 2050-08-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                              | Cooperatieve Rabobank UA                                                                                                                   | CUSIP: 21684AAD8<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    349000 | PA      | $334807.46    | 0.03%             | 2045-08-04      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                            | Corebridge Financial, Inc.                                                                                                                 | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     71000 | PA      | $67544.33     | 0.01%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Corp. Andina de Fomento                                               | Corp. Andina de Fomento                                                                                                                    | CUSIP: 219868CH7<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | US        |    862000 | PA      | $886597.28    | 0.07%             | 2027-04-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0226C0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    606000 | PA      | $525822.13    | 0.04%             | 2055-12-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0306C3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    556000 | PA      | $501555.13    | 0.04%             | 2055-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0326C9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1161000 | PA      | $1064174.41   | 0.08%             | 2055-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0406C2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1986000 | PA      | $1882721.13   | 0.14%             | 2055-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0426C8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1639000 | PA      | $1602794.74   | 0.12%             | 2055-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0506C1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    732000 | PA      | $731119.77    | 0.06%             | 2055-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H052611<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    150000 | PA      | $151346.88    | 0.01%             | 2056-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, Single Family, 30 Year                                                                                                            | CUSIP: 21H0526C7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3642000 | PA      | $3677974.40   | 0.28%             | 2055-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COPT Defense Properties LP                                            | COPT Defense Properties LP                                                                                                                 | CUSIP: 22003BAN6<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    166000 | PA      | $154777.50    | 0.01%             | 2029-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Council of Europe Development Bank                                    | Council of Europe Development Bank                                                                                                         | CUSIP: 222213AY6<br>LEI: 549300UYNXMI821WYG82 | Long             | DBT              | NUSS              | US        |    445000 | PA      | $434841.43    | 0.03%             | 2026-09-22      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                | UBS AG                                                                                                                                     | CUSIP: 22550L2G5<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    739000 | PA      | $725904.63    | 0.06%             | 2026-08-07      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                    | Crown Castle, Inc.                                                                                                                         | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     94000 | PA      | $93027.91     | 0.01%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                    | Crown Castle, Inc.                                                                                                                         | CUSIP: 22822VAT8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    324000 | PA      | $290047.72    | 0.02%             | 2031-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                    | Crown Castle, Inc.                                                                                                                         | CUSIP: 22822VAU5<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    179000 | PA      | $119978.17    | 0.01%             | 2051-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Cummins, Inc.                                                         | Cummins, Inc.                                                                                                                              | CUSIP: 231021AS5<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | DBT              | CORP              | US        |    674000 | PA      | $417688.23    | 0.03%             | 2050-09-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| DH Europe Finance II SARL                                             | DH Europe Finance II SARL                                                                                                                  | CUSIP: 23291KAJ4<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |    735000 | PA      | $609321.67    | 0.05%             | 2039-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DBGS Mortgage Trust                                                   | DBGS Mortgage Trust, Series 2018-C1, Class A4                                                                                              | CUSIP: 23307DBA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $20016.44     | 0.00%             | 2051-10-15      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| DBJPM Mortgage Trust                                                  | DBJPM Mortgage Trust, Series 2017-C6, Class A5                                                                                             | CUSIP: 23312JAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $19788.14     | 0.00%             | 2050-06-10      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| DTE Energy Co.                                                        | DTE Energy Co.                                                                                                                             | CUSIP: 233331BF3<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80798.58     | 0.01%             | 2030-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| DTE Electric Co.                                                      | DTE Electric Co.                                                                                                                           | CUSIP: 23338VAD8<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |     83000 | PA      | $72373.91     | 0.01%             | 2044-07-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| DTE Electric Co.                                                      | DTE Electric Co.                                                                                                                           | CUSIP: 23338VAG1<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    517000 | PA      | $404261.50    | 0.03%             | 2047-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DTE Electric Co.                                                      | DTE Electric Co.                                                                                                                           | CUSIP: 23338VAJ5<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    240000 | PA      | $193693.25    | 0.01%             | 2049-03-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DTE Electric Co.                                                      | DTE Electric Co.                                                                                                                           | CUSIP: 23338VAL0<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |     25000 | PA      | $16957.59     | 0.00%             | 2050-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| DTE Electric Co.                                                      | DTE Electric Co.                                                                                                                           | CUSIP: 23338VAV8<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52018.30     | 0.00%             | 2034-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DXC Technology Co.                                                    | DXC Technology Co.                                                                                                                         | CUSIP: 23355LAM8<br>LEI: 549300DOVZ3EDJB7O259 | Long             | DBT              | CORP              | US        |    134000 | PA      | $125929.70    | 0.01%             | 2028-09-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Danaher Corp.                                                         | Danaher Corp.                                                                                                                              | CUSIP: 235851AV4<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6240.27      | 0.00%             | 2050-10-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                              | John Deere Capital Corp.                                                                                                                   | CUSIP: 24422EUB3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49336.24     | 0.00%             | 2028-01-06      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                              | John Deere Capital Corp.                                                                                                                   | CUSIP: 24422EWE5<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    322000 | PA      | $316503.30    | 0.02%             | 2029-04-18      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                                                | Dell International LLC                                                                                                                     | CUSIP: 24703DBF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    126000 | PA      | $97050.34     | 0.01%             | 2041-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA, Inc.                                                 | DENTSPLY SIRONA, Inc.                                                                                                                      | CUSIP: 24906PAA7<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    281000 | PA      | $259546.89    | 0.02%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | Deutsche Bank AG                                                                                                                           | CUSIP: 251526CF4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    260000 | PA      | $246441.00    | 0.02%             | 2032-01-14      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | Deutsche Bank AG                                                                                                                           | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    260000 | PA      | $255290.34    | 0.02%             | 2027-11-16      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | Deutsche Bank AG                                                                                                                           | CUSIP: 251526CT4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    444000 | PA      | $488003.71    | 0.04%             | 2034-02-10      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | Deutsche Bank AG                                                                                                                           | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    416000 | PA      | $444437.19    | 0.03%             | 2029-11-20      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | Deutsche Bank AG                                                                                                                           | CUSIP: 251526CW7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    160000 | PA      | $166576.25    | 0.01%             | 2029-05-10      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom International Finance BV                             | Deutsche Telekom International Finance BV                                                                                                  | CUSIP: 25156PAD5<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |    136000 | PA      | $170399.91    | 0.01%             | 2032-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corp.                                                    | Devon Energy Corp.                                                                                                                         | CUSIP: 251799AA0<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     30000 | PA      | $34928.10     | 0.00%             | 2032-04-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                                              | Diamondback Energy, Inc.                                                                                                                   | CUSIP: 25278XAQ2<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    215000 | PA      | $175028.51    | 0.01%             | 2051-03-24      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                                              | Diamondback Energy, Inc.                                                                                                                   | CUSIP: 25278XAR0<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     38000 | PA      | $35538.94     | 0.00%             | 2031-03-24      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                                              | Diamondback Energy, Inc.                                                                                                                   | CUSIP: 25278XAW9<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    346000 | PA      | $355541.49    | 0.03%             | 2053-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                                              | Diamondback Energy, Inc.                                                                                                                   | CUSIP: 25278XBA6<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     89000 | PA      | $85827.08     | 0.01%             | 2054-04-18      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                 | Walt Disney Co. (The)                                                                                                                      | CUSIP: 254687FP6<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    462000 | PA      | $461331.31    | 0.04%             | 2027-03-23      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                 | Walt Disney Co. (The)                                                                                                                      | CUSIP: 254687FQ4<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    143000 | PA      | $142027.32    | 0.01%             | 2030-03-22      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                 | Walt Disney Co. (The)                                                                                                                      | CUSIP: 254687FW1<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |     29000 | PA      | $28091.45     | 0.00%             | 2028-01-13      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                 | Walt Disney Co. (The)                                                                                                                      | CUSIP: 254687FZ4<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1189000 | PA      | $900321.73    | 0.07%             | 2051-01-13      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| TWDC Enterprises 18 Corp.                                             | TWDC Enterprises 18 Corp.                                                                                                                  | CUSIP: 25468PBW5<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |     15000 | PA      | $17200.50     | 0.00%             | 2032-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TWDC Enterprises 18 Corp.                                             | TWDC Enterprises 18 Corp.                                                                                                                  | CUSIP: 25468PDM5<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |    245000 | PA      | $241694.58    | 0.02%             | 2026-07-30      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| TWDC Enterprises 18 Corp.                                             | TWDC Enterprises 18 Corp.                                                                                                                  | CUSIP: 25468PDN3<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $1586731.80   | 0.12%             | 2046-07-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Dow Chemical Co. (The)                                                | Dow Chemical Co. (The)                                                                                                                     | CUSIP: 260543CE1<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    749000 | PA      | $686658.24    | 0.05%             | 2041-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Dow Chemical Co. (The)                                                | Dow Chemical Co. (The)                                                                                                                     | CUSIP: 260543CL5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61148.01     | 0.00%             | 2044-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Dow Chemical Co. (The)                                                | Dow Chemical Co. (The)                                                                                                                     | CUSIP: 260543DC4<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    496000 | PA      | $439666.19    | 0.03%             | 2030-11-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| DuPont de Nemours, Inc.                                               | DuPont de Nemours, Inc.                                                                                                                    | CUSIP: 26078JAE0<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |     88000 | PA      | $89802.94     | 0.01%             | 2038-11-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| EIDP, Inc.                                                            | EIDP, Inc.                                                                                                                                 | CUSIP: 263534CR8<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |    418000 | PA      | $420196.33    | 0.03%             | 2033-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Duke Energy Indiana LLC                                               | Duke Energy Indiana LLC                                                                                                                    | CUSIP: 263901AA8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     10000 | PA      | $11172.29     | 0.00%             | 2038-08-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas LLC                                             | Duke Energy Carolinas LLC                                                                                                                  | CUSIP: 264399ED4<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     30000 | PA      | $33361.95     | 0.00%             | 2032-10-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas LLC                                             | Duke Energy Carolinas LLC                                                                                                                  | CUSIP: 26442CAT1<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    547000 | PA      | $423251.82    | 0.03%             | 2047-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas LLC                                             | Duke Energy Carolinas LLC                                                                                                                  | CUSIP: 26442CBA1<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     41000 | PA      | $38550.10     | 0.00%             | 2030-02-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                              | Duke Energy Progress LLC                                                                                                                   | CUSIP: 26442RAD3<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $84809.24     | 0.01%             | 2044-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Duke Energy Indiana LLC                                               | Duke Energy Indiana LLC                                                                                                                    | CUSIP: 26443TAC0<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     30000 | PA      | $19048.87     | 0.00%             | 2050-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                               | Duke Energy Florida LLC                                                                                                                    | CUSIP: 26444HAK7<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    300000 | PA      | $271318.91    | 0.02%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                               | Duke Energy Florida LLC                                                                                                                    | CUSIP: 26444HAR2<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |     30000 | PA      | $32792.89     | 0.00%             | 2053-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| DuPont de Nemours, Inc.                                               | DuPont de Nemours, Inc.                                                                                                                    | CUSIP: 26614NAC6<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    198000 | PA      | $200654.64    | 0.02%             | 2028-11-15      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| EQT Corp.                                                             | EQT Corp.                                                                                                                                  | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    167000 | PA      | $181540.23    | 0.01%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| East Bay Municipal Utility District Water System Revenue              | East Bay Municipal Utility District, Water System, Series 2010B                                                                            | CUSIP: 271014TU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $166514.84    | 0.01%             | 2040-06-01      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Eastman Chemical Co.                                                  | Eastman Chemical Co.                                                                                                                       | CUSIP: 277432AX8<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | DBT              | CORP              | US        |     88000 | PA      | $92417.17     | 0.01%             | 2033-03-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Eaton Corp.                                                           | Eaton Corp.                                                                                                                                | CUSIP: 278062AE4<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    141000 | PA      | $124399.95    | 0.01%             | 2042-11-02      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| eBay, Inc.                                                            | eBay, Inc.                                                                                                                                 | CUSIP: 278642AF0<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    400000 | PA      | $333587.71    | 0.03%             | 2042-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Edison International                                                  | Edison International                                                                                                                       | CUSIP: 281020AY3<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   1838000 | PA      | $1865191.19   | 0.14%             | 2028-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Emerson Electric Co.                                                  | Emerson Electric Co.                                                                                                                       | CUSIP: 291011BM5<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    149000 | PA      | $97259.78     | 0.01%             | 2050-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                        | Enbridge, Inc.                                                                                                                             | CUSIP: 29250NAR6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    405000 | PA      | $402512.95    | 0.03%             | 2027-07-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                        | Enbridge, Inc.                                                                                                                             | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    988000 | PA      | $849115.30    | 0.06%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                        | Enbridge, Inc.                                                                                                                             | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    333000 | PA      | $356578.77    | 0.03%             | 2054-06-27      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                        | Enbridge, Inc.                                                                                                                             | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    384000 | PA      | $408417.28    | 0.03%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29273RBE8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    219000 | PA      | $214949.22    | 0.02%             | 2035-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     64000 | PA      | $67513.45     | 0.01%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29273VAW0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72347.39     | 0.01%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29278NAF0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    337000 | PA      | $342846.31    | 0.03%             | 2028-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29278NAG8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028836.45   | 0.08%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29278NAR4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    358000 | PA      | $304500.66    | 0.02%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    540000 | PA      | $543490.73    | 0.04%             | 2049-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VAY9<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    435000 | PA      | $389107.08    | 0.03%             | 2043-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VBC6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19141.97     | 0.00%             | 2045-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC, Series E                                                                                                | CUSIP: 29379VBN2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    209000 | PA      | $208630.17    | 0.02%             | 2077-08-16      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VBQ5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     72000 | PA      | $60212.14     | 0.00%             | 2048-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VBU6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     29000 | PA      | $26083.54     | 0.00%             | 2049-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VBV4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    629000 | PA      | $610184.05    | 0.05%             | 2029-07-31      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VBY8<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7457.72      | 0.00%             | 2051-01-31      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VBZ5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     90000 | PA      | $67231.83     | 0.01%             | 2060-01-31      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VCB7<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     60000 | PA      | $41076.07     | 0.00%             | 2053-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                     | Enterprise Products Operating LLC                                                                                                          | CUSIP: 29379VCG6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    360000 | PA      | $366291.86    | 0.03%             | 2035-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Equifax, Inc.                                                         | Equifax, Inc.                                                                                                                              | CUSIP: 294429AT2<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    140000 | PA      | $124758.30    | 0.01%             | 2031-09-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Equinix, Inc.                                                         | Equinix, Inc.                                                                                                                              | CUSIP: 29444UBG0<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |    266000 | PA      | $256400.13    | 0.02%             | 2027-07-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                           | Equinor ASA                                                                                                                                | CUSIP: 29446MAC6<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | NUSS              | NO        |    304000 | PA      | $218795.53    | 0.02%             | 2049-11-18      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Essential Utilities, Inc.                                             | Essential Utilities, Inc.                                                                                                                  | CUSIP: 29670GAH5<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41548.07     | 0.00%             | 2034-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Essential Properties LP                                               | Essential Properties LP                                                                                                                    | CUSIP: 29670VAB5<br>LEI: 254900XX9FNFCDE1NX02 | Long             | DBT              | CORP              | US        |    460000 | PA      | $462392.38    | 0.04%             | 2035-12-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Estee Lauder Cos., Inc. (The)                                         | Estee Lauder Cos., Inc. (The)                                                                                                              | CUSIP: 29736RAR1<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107111.97    | 0.01%             | 2031-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Estee Lauder Cos., Inc. (The)                                         | Estee Lauder Cos., Inc. (The)                                                                                                              | CUSIP: 29736RAT7<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100785.46    | 0.01%             | 2033-05-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785HD1<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |     11000 | PA      | $10932.73     | 0.00%             | 2026-04-13      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785HM1<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |    500000 | PA      | $491329.25    | 0.04%             | 2027-05-24      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785JH0<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |   1395000 | PA      | $1219097.33   | 0.09%             | 2030-09-23      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785JU1<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |     35000 | PA      | $35271.64     | 0.00%             | 2028-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785JV9<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |    631000 | PA      | $627047.39    | 0.05%             | 2033-02-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785JW7<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |    535000 | PA      | $534719.44    | 0.04%             | 2030-07-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785KE5<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |    800000 | PA      | $827079.49    | 0.06%             | 2031-10-10      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                                              | European Investment Bank                                                                                                                   | CUSIP: 298785KF2<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | US        |    542000 | PA      | $545195.74    | 0.04%             | 2029-11-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Everest Reinsurance Holdings, Inc.                                    | Everest Reinsurance Holdings, Inc.                                                                                                         | CUSIP: 299808AF2<br>LEI: 254900P29PM5UJR3VU91 | Long             | DBT              | CORP              | US        |     31000 | PA      | $27999.23     | 0.00%             | 2044-06-01      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Everest Reinsurance Holdings, Inc.                                    | Everest Reinsurance Holdings, Inc.                                                                                                         | CUSIP: 299808AH8<br>LEI: 254900P29PM5UJR3VU91 | Long             | DBT              | CORP              | US        |     15000 | PA      | $10581.57     | 0.00%             | 2050-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Everest Reinsurance Holdings, Inc.                                    | Everest Reinsurance Holdings, Inc.                                                                                                         | CUSIP: 299808AJ4<br>LEI: 254900P29PM5UJR3VU91 | Long             | DBT              | CORP              | US        |     37000 | PA      | $23694.75     | 0.00%             | 2052-10-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                                     | Eversource Energy                                                                                                                          | CUSIP: 30040WAR9<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10056.13     | 0.00%             | 2027-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                                          | Exelon Corp.                                                                                                                               | CUSIP: 30161NAY7<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $917720.03    | 0.07%             | 2050-04-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                                   | Expedia Group, Inc.                                                                                                                        | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    561000 | PA      | $538978.29    | 0.04%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                                   | Expedia Group, Inc.                                                                                                                        | CUSIP: 30212PBH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    349000 | PA      | $324671.91    | 0.02%             | 2031-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Export Development Canada                                             | Export Development Canada                                                                                                                  | CUSIP: 30216BJW3<br>LEI: Z6MHCSLXHKYG4B6PHW02 | Long             | DBT              | NUSS              | CA        |    515000 | PA      | $518475.95    | 0.04%             | 2028-02-14      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Export Development Canada                                             | Export Development Canada                                                                                                                  | CUSIP: 30216BKB7<br>LEI: Z6MHCSLXHKYG4B6PHW02 | Long             | DBT              | NUSS              | CA        |    150000 | PA      | $150431.03    | 0.01%             | 2026-06-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                                | Extra Space Storage LP                                                                                                                     | CUSIP: 30225VAU1<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    700000 | PA      | $720598.06    | 0.06%             | 2035-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                     | Exxon Mobil Corp.                                                                                                                          | CUSIP: 30231GAW2<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    577000 | PA      | $491693.64    | 0.04%             | 2046-03-01      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                     | Exxon Mobil Corp.                                                                                                                          | CUSIP: 30231GBJ0<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228718.70    | 0.02%             | 2027-03-19      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                     | Exxon Mobil Corp.                                                                                                                          | CUSIP: 30231GBK7<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98129.93     | 0.01%             | 2030-03-19      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                     | Exxon Mobil Corp.                                                                                                                          | CUSIP: 30231GBM3<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    129000 | PA      | $94812.15     | 0.01%             | 2051-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| FMC Corp.                                                             | FMC Corp.                                                                                                                                  | CUSIP: 302491AU9<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    365000 | PA      | $330717.95    | 0.03%             | 2029-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp.                                                  | FS KKR Capital Corp.                                                                                                                       | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    376000 | PA      | $348171.75    | 0.03%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                                  | Meta Platforms, Inc.                                                                                                                       | CUSIP: 30303M8J4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    307000 | PA      | $258533.85    | 0.02%             | 2052-08-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                                  | Meta Platforms, Inc.                                                                                                                       | CUSIP: 30303M8M7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    198000 | PA      | $204500.79    | 0.02%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128M5CS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13628 | PA      | $14195.46     | 0.00%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128M85R1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2710 | PA      | $2863.94      | 0.00%             | 2040-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MDRA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2074 | PA      | $2061.59      | 0.00%             | 2027-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MDWS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31140 | PA      | $30947.00     | 0.00%             | 2029-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128ME4C2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       927 | PA      | $924.90       | 0.00%             | 2030-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MEAA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |        38 | PA      | $37.61        | 0.00%             | 2027-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MEHP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       149 | PA      | $148.48       | 0.00%             | 2027-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MENS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     12244 | PA      | $12055.04     | 0.00%             | 2029-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MENT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7981 | PA      | $7892.09      | 0.00%             | 2027-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MFQV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1696 | PA      | $1632.73      | 0.00%             | 2033-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MFQX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |         5 | PA      | $5.22         | 0.00%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128MJ2V1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    226437 | PA      | $206393.75    | 0.02%             | 2047-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128MJ3W8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7741 | PA      | $7043.57      | 0.00%             | 2048-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128MJQ78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |         4 | PA      | $4.03         | 0.00%             | 2042-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128MJWP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     35252 | PA      | $32403.37     | 0.00%             | 2045-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128MJYG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     24129 | PA      | $22082.65     | 0.00%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3128MJZM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    125060 | PA      | $114372.88    | 0.01%             | 2047-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MMQT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6058 | PA      | $5963.89      | 0.00%             | 2028-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MMQU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3388 | PA      | $3317.22      | 0.00%             | 2028-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MMS61<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11461 | PA      | $11177.67     | 0.00%             | 2030-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128MMTN3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15905 | PA      | $15488.03     | 0.00%             | 2030-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3128PVBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3115 | PA      | $3108.70      | 0.00%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 312928QG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     84166 | PA      | $85319.91     | 0.01%             | 2036-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31292LJB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76410 | PA      | $73396.88     | 0.01%             | 2042-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 312936ZZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13345 | PA      | $13519.62     | 0.00%             | 2039-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 312940NN5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     39371 | PA      | $40608.59     | 0.00%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 312941WU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       519 | PA      | $519.01       | 0.00%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 31294UA52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23750 | PA      | $23282.33     | 0.00%             | 2028-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31297VGT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14185 | PA      | $14775.78     | 0.00%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 31306XEA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13619 | PA      | $13454.96     | 0.00%             | 2027-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 31307BWX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     22946 | PA      | $22478.24     | 0.00%             | 2028-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLB                                                                  | FHLB                                                                                                                                       | CUSIP: 3130AEB25<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |     40000 | PA      | $39750.55     | 0.00%             | 2028-06-09      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FHLB                                                                  | FHLB                                                                                                                                       | CUSIP: 3130B0TY5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |   1175000 | PA      | $1192683.10   | 0.09%             | 2027-04-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131WGFE4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17874 | PA      | $18597.62     | 0.00%             | 2035-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131WQQA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     16078 | PA      | $15809.72     | 0.00%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3131X1RL7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8943 | PA      | $8808.29      | 0.00%             | 2032-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3131XDCF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    344518 | PA      | $336584.09    | 0.03%             | 2032-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131XJ5H1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     49626 | PA      | $47399.38     | 0.00%             | 2042-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131XUMR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1302012 | PA      | $1219350.65   | 0.09%             | 2046-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131XVN27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    257210 | PA      | $243190.37    | 0.02%             | 2046-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131XYEG0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    326557 | PA      | $316270.58    | 0.02%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131Y2QW1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     61451 | PA      | $57295.30     | 0.00%             | 2048-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131YA6M7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    205353 | PA      | $192955.23    | 0.01%             | 2048-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3131YBUL0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     77404 | PA      | $75023.95     | 0.01%             | 2049-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 31329KQ64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     40637 | PA      | $39593.97     | 0.00%             | 2032-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 31329KWY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20600 | PA      | $20033.26     | 0.00%             | 2037-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 31329P6X6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    100904 | PA      | $97887.69     | 0.01%             | 2049-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132A4DR6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    108778 | PA      | $103897.51    | 0.01%             | 2043-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132A4Q68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15682 | PA      | $14973.40     | 0.00%             | 2044-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132A5C52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    104869 | PA      | $102080.92    | 0.01%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132A5DN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     29258 | PA      | $26925.95     | 0.00%             | 2045-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132A5H32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18584 | PA      | $16923.59     | 0.00%             | 2048-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132A74Z1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     65113 | PA      | $63557.91     | 0.00%             | 2029-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132A8EC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11224 | PA      | $11021.46     | 0.00%             | 2030-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3132AAFD1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1802 | PA      | $1751.71      | 0.00%             | 2033-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132AD6M5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17329 | PA      | $16227.13     | 0.00%             | 2049-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132AEB96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2306 | PA      | $2236.08      | 0.00%             | 2049-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132AEEY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5600 | PA      | $5243.22      | 0.00%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132AEEZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     37152 | PA      | $36006.80     | 0.00%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132AEJ72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30958 | PA      | $28976.58     | 0.00%             | 2049-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132CWA87<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       148 | PA      | $147.17       | 0.00%             | 2027-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132CWCG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6247 | PA      | $6162.52      | 0.00%             | 2030-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132CWCN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     24713 | PA      | $24441.13     | 0.00%             | 2034-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132CWH98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       118 | PA      | $117.48       | 0.00%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132CWKP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    291950 | PA      | $283660.04    | 0.02%             | 2035-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132D57B2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    629480 | PA      | $597374.58    | 0.05%             | 2036-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132D6A83<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    518453 | PA      | $467493.24    | 0.04%             | 2036-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132D6BH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    400529 | PA      | $360909.07    | 0.03%             | 2037-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3132D6BJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1287488 | PA      | $1190817.22   | 0.09%             | 2037-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3132D9DL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3179 | PA      | $3130.39      | 0.00%             | 2034-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3132D9EC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    159236 | PA      | $134691.23    | 0.01%             | 2041-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3132D9EF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    163633 | PA      | $138125.01    | 0.01%             | 2041-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DM7J8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    799643 | PA      | $664075.92    | 0.05%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DMET8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     96397 | PA      | $88160.63     | 0.01%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DMHA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    433544 | PA      | $396139.68    | 0.03%             | 2047-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DMKQ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    555165 | PA      | $480849.75    | 0.04%             | 2050-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DMND3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    338840 | PA      | $322504.03    | 0.02%             | 2047-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DMXR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3626889 | PA      | $3138683.71   | 0.24%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DNFD0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    689506 | PA      | $614131.12    | 0.05%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DNTS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    814104 | PA      | $732266.33    | 0.06%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DP2D9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    816255 | PA      | $838816.38    | 0.06%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DP2M9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    668337 | PA      | $687124.98    | 0.05%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DPBH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    390082 | PA      | $350069.43    | 0.03%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DPFC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7969960 | PA      | $6532442.97   | 0.50%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DPUE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3784753 | PA      | $3882779.09   | 0.30%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DQFF8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    634522 | PA      | $617316.89    | 0.05%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DSDJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    258133 | PA      | $270625.89    | 0.02%             | 2054-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV3J2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     10898 | PA      | $10198.54     | 0.00%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV3N3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     39063 | PA      | $36551.32     | 0.00%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV3P8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     22278 | PA      | $21502.24     | 0.00%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV4J1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    116231 | PA      | $108744.71    | 0.01%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV4W2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    337192 | PA      | $289004.27    | 0.02%             | 2050-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV7A7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    720928 | PA      | $619155.82    | 0.05%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DV7C3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2040230 | PA      | $1752002.99   | 0.13%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DVKN4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     55854 | PA      | $54373.97     | 0.00%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DVKP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     89587 | PA      | $84082.34     | 0.01%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DVMV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    948120 | PA      | $994610.87    | 0.08%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWAD5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1056173 | PA      | $820025.78    | 0.06%             | 2050-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWB36<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    218164 | PA      | $203100.29    | 0.02%             | 2051-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWB85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     90673 | PA      | $84419.34     | 0.01%             | 2051-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWBN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    897431 | PA      | $697049.98    | 0.05%             | 2051-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWC68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9347180 | PA      | $7652294.31   | 0.58%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWCJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    932460 | PA      | $798674.19    | 0.06%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWD75<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1211028 | PA      | $1122069.19   | 0.09%             | 2052-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWDH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1638386 | PA      | $1340279.95   | 0.10%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWDJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4566425 | PA      | $3905995.20   | 0.30%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWDT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    937103 | PA      | $868267.35    | 0.07%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWE58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1886909 | PA      | $1806153.10   | 0.14%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    397909 | PA      | $391305.38    | 0.03%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWG72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     84251 | PA      | $82750.24     | 0.01%             | 2053-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWJS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1427767 | PA      | $1464356.00   | 0.11%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWKJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1896011 | PA      | $1963853.68   | 0.15%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWLU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    893749 | PA      | $915146.59    | 0.07%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1835889 | PA      | $1859822.21   | 0.14%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132FCC37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     19995 | PA      | $20063.85     | 0.00%             | 2044-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132GJSD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17086 | PA      | $17253.47     | 0.00%             | 2041-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132GK2V7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2102 | PA      | $2065.50      | 0.00%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132GR2C4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26884 | PA      | $25176.82     | 0.00%             | 2042-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132HRGB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2197 | PA      | $2042.14      | 0.00%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132J8T83<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2308 | PA      | $2268.94      | 0.00%             | 2043-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 15 Year                                                                                                                  | CUSIP: 3132KE4Z5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3731 | PA      | $3673.98      | 0.00%             | 2030-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132L62M2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     50154 | PA      | $50838.96     | 0.00%             | 2034-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132L8SW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     68410 | PA      | $66526.92     | 0.01%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132L9E35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20287 | PA      | $20917.11     | 0.00%             | 2036-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132QRYV6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7586 | PA      | $7309.80      | 0.00%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132VMUM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23880 | PA      | $23210.32     | 0.00%             | 2049-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132WKQ27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    242182 | PA      | $221484.92    | 0.02%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 3132XVFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     16029 | PA      | $14755.91     | 0.00%             | 2047-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 31334YGE1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14334 | PA      | $12925.47     | 0.00%             | 2049-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335AHP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    486106 | PA      | $462706.33    | 0.04%             | 2045-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335AR34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     28414 | PA      | $27011.24     | 0.00%             | 2046-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335AZA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1623 | PA      | $1645.71      | 0.00%             | 2042-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335B2N5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5169 | PA      | $4717.93      | 0.00%             | 2047-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335B4G8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     46878 | PA      | $45087.01     | 0.00%             | 2043-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335BC95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5440 | PA      | $5153.30      | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335BLQ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15842 | PA      | $15884.00     | 0.00%             | 2046-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335BYN0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13787 | PA      | $13975.68     | 0.00%             | 2045-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335BYU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18368 | PA      | $16837.12     | 0.00%             | 2047-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC Gold Pools, 30 Year                                                                                                                  | CUSIP: 31335CCW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20644 | PA      | $20578.90     | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133A4WN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30025 | PA      | $28109.50     | 0.00%             | 2050-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133A72Y4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    679534 | PA      | $557398.90    | 0.04%             | 2050-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133AD6H4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4645682 | PA      | $3793489.39   | 0.29%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133AFRC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1038092 | PA      | $808564.02    | 0.06%             | 2051-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133ALZ68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1497031 | PA      | $1226686.47   | 0.09%             | 2051-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133AMTQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    296119 | PA      | $241054.67    | 0.02%             | 2051-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133AQWS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    210346 | PA      | $180231.54    | 0.01%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133ATXR7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1463347 | PA      | $1302722.24   | 0.10%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133AYL32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1130073 | PA      | $929824.71    | 0.07%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133B03H4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1447871 | PA      | $1248640.70   | 0.10%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133B7UB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1286501 | PA      | $1100703.26   | 0.08%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133D3E68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13940 | PA      | $12693.97     | 0.00%             | 2040-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL2C7<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |    194000 | PA      | $172770.22    | 0.01%             | 2030-07-29      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL3J1<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     93000 | PA      | $82284.67     | 0.01%             | 2030-08-12      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL4Q4<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     11000 | PA      | $8598.46      | 0.00%             | 2035-08-20      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL5K6<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |    129000 | PA      | $114432.78    | 0.01%             | 2030-09-03      | Fixed         | 1.24%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL5U4<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     35000 | PA      | $32628.41     | 0.00%             | 2028-09-01      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL6D1<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     35000 | PA      | $31932.69     | 0.00%             | 2029-09-10      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EL6L3<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |    373000 | PA      | $331902.19    | 0.03%             | 2030-09-09      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133ELSV7<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     12000 | PA      | $9969.02      | 0.00%             | 2035-03-12      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133ELXP4<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     55000 | PA      | $50201.12     | 0.00%             | 2030-04-29      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EMLN0<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |    120000 | PA      | $105599.95    | 0.01%             | 2030-12-23      | Fixed         | 1.24%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EMNB4<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |    135000 | PA      | $119287.52    | 0.01%             | 2031-01-14      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EMPE6<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |    125000 | PA      | $109822.68    | 0.01%             | 2031-02-03      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| FFCB Funding Corp.                                                    | FFCB Funding Corp.                                                                                                                         | CUSIP: 3133EMPP1<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |     50000 | PA      | $46952.51     | 0.00%             | 2028-02-02      | Fixed         | 0.84%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3133G8U82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     75171 | PA      | $69904.51     | 0.01%             | 2035-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3133GCXY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    101848 | PA      | $94527.97     | 0.01%             | 2036-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 15 Year                                                                                                                        | CUSIP: 3133GDPB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    220935 | PA      | $204759.21    | 0.02%             | 2036-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KGKP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    305302 | PA      | $286365.87    | 0.02%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KHCP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1687 | PA      | $1577.53      | 0.00%             | 2049-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KHK54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    435835 | PA      | $394598.47    | 0.03%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KKD89<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1536277 | PA      | $1272640.50   | 0.10%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KKUW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    434241 | PA      | $373244.70    | 0.03%             | 2050-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KKZN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    280300 | PA      | $242086.18    | 0.02%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KL2U0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7776 | PA      | $6385.60      | 0.00%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KMPR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    591545 | PA      | $510582.32    | 0.04%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KNSD6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    212091 | PA      | $172645.62    | 0.01%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KQAM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1518235 | PA      | $1492412.49   | 0.11%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KQV52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    580679 | PA      | $606230.80    | 0.05%             | 2053-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133KRQW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    308885 | PA      | $322194.79    | 0.02%             | 2053-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYS26<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2259 | PA      | $2070.98      | 0.00%             | 2040-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYS83<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31131 | PA      | $28534.36     | 0.00%             | 2040-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYSP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     27268 | PA      | $25082.12     | 0.00%             | 2039-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYSV2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     22313 | PA      | $20477.68     | 0.00%             | 2040-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYTD1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     65525 | PA      | $60041.97     | 0.00%             | 2040-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYWE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1259405 | PA      | $1102870.33   | 0.08%             | 2042-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 20 Year                                                                                                                        | CUSIP: 3133KYWP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    754064 | PA      | $677150.45    | 0.05%             | 2042-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 3133WCG32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    587048 | PA      | $616293.49    | 0.05%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 31346YAJ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    268980 | PA      | $242125.22    | 0.02%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 31346YNY5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     83461 | PA      | $76243.22     | 0.01%             | 2049-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC                                                                                                                                      | CUSIP: 3134A3ZU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1494000 | PA      | $1287919.52   | 0.10%             | 2029-12-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC                                                                                                                                      | CUSIP: 3134A4AA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |     80000 | PA      | $91726.05     | 0.01%             | 2031-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC                                                                                                                                      | CUSIP: 3134GWYB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |     65000 | PA      | $61680.48     | 0.00%             | 2027-10-13      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA                                                                                                                                       | CUSIP: 31359MEU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1029000 | PA      | $1118763.15   | 0.09%             | 2029-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31368HNQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     54662 | PA      | $56845.88     | 0.00%             | 2039-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA ACES, Series 2017-M7, Class A2                                                                                                        | CUSIP: 3136AV7G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    251781 | PA      | $248932.83    | 0.02%             | 2027-02-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA ACES, Series 2017-M14, Class A2                                                                                                       | CUSIP: 3136AY2H5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7277 | PA      | $7138.60      | 0.00%             | 2027-11-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA ACES, Series 2018-M14, Class A2                                                                                                       | CUSIP: 3136B27L0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    409476 | PA      | $407153.63    | 0.03%             | 2028-08-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA ACES, Series 2018-M10, Class A2                                                                                                       | CUSIP: 3136B2HA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38625 | PA      | $38243.86     | 0.00%             | 2028-07-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA ACES, Series 2019-M1, Class A2                                                                                                        | CUSIP: 3136B3XY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     60139 | PA      | $59777.52     | 0.00%             | 2028-09-25      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA ACES, Series 2019-M22, Class A2                                                                                                       | CUSIP: 3136B6XJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    567293 | PA      | $542498.15    | 0.04%             | 2029-08-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31371KTC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12777 | PA      | $13216.99     | 0.00%             | 2032-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K057, Class A2                                                            | CUSIP: 3137BRQJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     57676 | PA      | $57165.52     | 0.00%             | 2026-07-25      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K063, Class A1                                                            | CUSIP: 3137BVZ74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7075 | PA      | $7032.05      | 0.00%             | 2026-08-25      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K123, Class A2                                                            | CUSIP: 3137F8ZV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $447933.77    | 0.03%             | 2030-12-25      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K125, Class A2                                                            | CUSIP: 3137F9Z79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     10000 | PA      | $9032.69      | 0.00%             | 2031-01-25      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K072, Class A2                                                            | CUSIP: 3137FEBQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    400000 | PA      | $396885.73    | 0.03%             | 2027-12-25      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K156, Class A3                                                            | CUSIP: 3137FH2A0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     91000 | PA      | $88185.44     | 0.01%             | 2033-06-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K157, Class A2                                                            | CUSIP: 3137FHQ63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    250000 | PA      | $250128.64    | 0.02%             | 2033-05-25      | Variable      | 3.99%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K158, Class A1                                                            | CUSIP: 3137FJY52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    923615 | PA      | $924473.41    | 0.07%             | 2030-07-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K084, Class A2                                                            | CUSIP: 3137FJZ93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $499452.07    | 0.04%             | 2028-10-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K087, Class A2                                                            | CUSIP: 3137FKUP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     27169 | PA      | $27134.16     | 0.00%             | 2028-12-25      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K091, Class A2                                                            | CUSIP: 3137FLN91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $990405.02    | 0.08%             | 2029-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-1512, Class A2                                                          | CUSIP: 3137FMTS1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     75000 | PA      | $71453.59     | 0.01%             | 2031-05-25      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-1512, Class A3                                                          | CUSIP: 3137FMTT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    150000 | PA      | $137168.65    | 0.01%             | 2034-04-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K735, Class A2                                                            | CUSIP: 3137FMU67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     38335 | PA      | $38085.55     | 0.00%             | 2026-05-25      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K096, Class A2                                                            | CUSIP: 3137FNB82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    295000 | PA      | $282265.72    | 0.02%             | 2029-07-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K097, Class A2                                                            | CUSIP: 3137FNX54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1910406.58   | 0.15%             | 2029-07-25      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K100, Class A2                                                            | CUSIP: 3137FQ3A9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    400000 | PA      | $383387.78    | 0.03%             | 2029-09-25      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K102, Class A2                                                            | CUSIP: 3137FQKC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    400000 | PA      | $381386.57    | 0.03%             | 2029-10-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K113, Class A2                                                            | CUSIP: 3137FV5N8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    700000 | PA      | $627727.22    | 0.05%             | 2030-06-25      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                 | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K127, Class A2                                                            | CUSIP: 3137FXZ35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    600000 | PA      | $548810.53    | 0.04%             | 2031-01-25      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138A3SA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61265 | PA      | $63120.00     | 0.00%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138A5GN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14533 | PA      | $14306.05     | 0.00%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138AFCZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    193138 | PA      | $195169.06    | 0.01%             | 2041-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138ATRP7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13319 | PA      | $13100.51     | 0.00%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138E2MF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10773 | PA      | $10706.36     | 0.00%             | 2027-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138EGDE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34190 | PA      | $36106.14     | 0.00%             | 2039-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138EGHT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47304 | PA      | $46510.04     | 0.00%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138EJGG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69692 | PA      | $68479.10     | 0.01%             | 2042-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138EKRC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13544 | PA      | $13028.74     | 0.00%             | 2042-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138EKWE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     96856 | PA      | $97515.71     | 0.01%             | 2042-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138ELQQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19673 | PA      | $19310.37     | 0.00%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138EMCY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1257 | PA      | $1252.68      | 0.00%             | 2027-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138ENBF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57463 | PA      | $59061.19     | 0.00%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3138EQQG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     39602 | PA      | $37939.92     | 0.00%             | 2035-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138ERCJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47280 | PA      | $48488.62     | 0.00%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138EREA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13923 | PA      | $14066.29     | 0.00%             | 2046-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138ERNB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38886 | PA      | $35533.55     | 0.00%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138ERPC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16507 | PA      | $16384.06     | 0.00%             | 2031-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138ERT34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71883 | PA      | $74353.69     | 0.01%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138LU3J2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10168 | PA      | $10009.66     | 0.00%             | 2027-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138LUSY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8635 | PA      | $8284.53      | 0.00%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138M9WV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3042 | PA      | $2965.71      | 0.00%             | 2028-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138MRP47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7700 | PA      | $7550.69      | 0.00%             | 2027-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138NYQZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    226470 | PA      | $216168.12    | 0.02%             | 2043-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138W1UE5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2523 | PA      | $2483.71      | 0.00%             | 2028-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138W4QY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11892 | PA      | $11673.48     | 0.00%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WAG76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23761 | PA      | $23286.17     | 0.00%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WCAA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28685 | PA      | $28058.59     | 0.00%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WCHZ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30140 | PA      | $29444.07     | 0.00%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138WCWF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6311 | PA      | $6113.93      | 0.00%             | 2029-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WDJM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7558 | PA      | $7357.46      | 0.00%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WF2S4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     99078 | PA      | $94431.72     | 0.01%             | 2045-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WFQD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7593 | PA      | $7604.31      | 0.00%             | 2045-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WG7L2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     77092 | PA      | $77205.13     | 0.01%             | 2046-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WGR97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     18874 | PA      | $17301.33     | 0.00%             | 2046-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WGX90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27104 | PA      | $24787.47     | 0.00%             | 2046-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WHQN5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    175183 | PA      | $153518.24    | 0.01%             | 2046-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3138WJVA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1825 | PA      | $1765.42      | 0.00%             | 2032-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WKK38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11900 | PA      | $11558.55     | 0.00%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WKRA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17286 | PA      | $17296.81     | 0.00%             | 2047-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WLBQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33271 | PA      | $31446.74     | 0.00%             | 2047-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138WP3W2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     60080 | PA      | $57358.97     | 0.00%             | 2043-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138X3WS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19331 | PA      | $18425.40     | 0.00%             | 2043-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138XBAY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    333148 | PA      | $326076.60    | 0.02%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138XHX97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    126420 | PA      | $123579.88    | 0.01%             | 2044-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138XV4T4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    288068 | PA      | $288239.88    | 0.02%             | 2044-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138XYBY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15420 | PA      | $14852.02     | 0.00%             | 2042-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138Y1E27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17791 | PA      | $17801.24     | 0.00%             | 2044-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3138Y64C5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45859 | PA      | $46284.67     | 0.00%             | 2042-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31401LDU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13383 | PA      | $13552.17     | 0.00%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31402CVV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30881 | PA      | $32160.68     | 0.00%             | 2034-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31402RDG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22547 | PA      | $23624.21     | 0.00%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31405HU48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10715 | PA      | $10962.33     | 0.00%             | 2034-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140A5BU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1709485 | PA      | $1775960.61   | 0.14%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140ADPD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    612352 | PA      | $630589.42    | 0.05%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140BCD58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    599996 | PA      | $622219.47    | 0.05%             | 2055-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140E4K55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    330088 | PA      | $313024.98    | 0.02%             | 2045-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140EUCC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23775 | PA      | $22500.73     | 0.00%             | 2045-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140EV4X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43190 | PA      | $43127.59     | 0.00%             | 2044-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140FB6S4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    272267 | PA      | $272184.40    | 0.02%             | 2042-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140FDHZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10005 | PA      | $9573.09      | 0.00%             | 2031-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140FHDK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24217 | PA      | $24131.30     | 0.00%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140GV2P9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20909 | PA      | $20107.07     | 0.00%             | 2032-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140GWFR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37362 | PA      | $35313.46     | 0.00%             | 2047-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140GWYD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14096 | PA      | $14955.01     | 0.00%             | 2037-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140GXVN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20823 | PA      | $20482.60     | 0.00%             | 2032-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140GYNJ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10521 | PA      | $9882.87      | 0.00%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140H7R82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    176244 | PA      | $168185.95    | 0.01%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140H7ZU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    113495 | PA      | $107254.96    | 0.01%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140HDL85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    642159 | PA      | $582872.90    | 0.04%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140HGL21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    636535 | PA      | $546542.51    | 0.04%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J5W62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48504 | PA      | $46440.15     | 0.00%             | 2047-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140J6C62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5197 | PA      | $5128.11      | 0.00%             | 2028-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J6GM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    119118 | PA      | $115703.91    | 0.01%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J6GR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3254 | PA      | $3158.73      | 0.00%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3140J7NF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    340342 | PA      | $337595.69    | 0.03%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J7PC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56046 | PA      | $59189.00     | 0.00%             | 2041-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J7UN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16517 | PA      | $15731.38     | 0.00%             | 2046-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J7X42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10999 | PA      | $10503.48     | 0.00%             | 2045-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J8QG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71414 | PA      | $69686.84     | 0.01%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J8ZQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    589180 | PA      | $542235.52    | 0.04%             | 2047-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J92C4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12101 | PA      | $12217.20     | 0.00%             | 2047-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140J93Q2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2790 | PA      | $2796.30      | 0.00%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3140J94Q1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26811 | PA      | $25166.75     | 0.00%             | 2037-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J96B2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50194 | PA      | $49409.42     | 0.00%             | 2044-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J9EH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    121100 | PA      | $109809.27    | 0.01%             | 2043-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J9H53<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24081 | PA      | $23023.10     | 0.00%             | 2043-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J9JB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29737 | PA      | $28248.85     | 0.00%             | 2048-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140J9LQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21595 | PA      | $20048.94     | 0.00%             | 2046-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140J9RP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6358 | PA      | $6310.71      | 0.00%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140JAC48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5574 | PA      | $5535.63      | 0.00%             | 2031-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140JATM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24047 | PA      | $23432.96     | 0.00%             | 2047-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140JG7H2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    879851 | PA      | $875336.56    | 0.07%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140JNAU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13032 | PA      | $12986.29     | 0.00%             | 2049-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140JWAY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45524 | PA      | $45007.19     | 0.00%             | 2034-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140JYN69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     92147 | PA      | $82034.57     | 0.01%             | 2049-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140K9U56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    238293 | PA      | $222435.62    | 0.02%             | 2050-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140KCRX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    463448 | PA      | $398068.70    | 0.03%             | 2050-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140KELG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1976037 | PA      | $1618807.73   | 0.12%             | 2050-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140KENU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    475889 | PA      | $413028.28    | 0.03%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140KHRW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     74096 | PA      | $63628.09     | 0.00%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140KQWW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2209717 | PA      | $1811273.66   | 0.14%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140KYN34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    364054 | PA      | $338047.99    | 0.03%             | 2036-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140L0PW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    216642 | PA      | $185473.41    | 0.01%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140L0PX9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    429927 | PA      | $368376.60    | 0.03%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140L13Z6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    136315 | PA      | $116942.79    | 0.01%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140LNJT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    305585 | PA      | $276211.09    | 0.02%             | 2036-09-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140MHWJ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    732493 | PA      | $609512.61    | 0.05%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140ML7B0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    621720 | PA      | $575026.85    | 0.04%             | 2037-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140MQAA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    339000 | PA      | $326774.17    | 0.02%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140NCZY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    781709 | PA      | $788524.74    | 0.06%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140Q72H9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15150 | PA      | $14517.94     | 0.00%             | 2032-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140Q75L7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27889 | PA      | $25475.82     | 0.00%             | 2047-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140Q7EW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8189 | PA      | $8139.13      | 0.00%             | 2047-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140Q7XK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    168954 | PA      | $160304.06    | 0.01%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140Q9T29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21068 | PA      | $20444.94     | 0.00%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140Q9V26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37753 | PA      | $37590.83     | 0.00%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QADB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71055 | PA      | $70778.01     | 0.01%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QBN95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7356 | PA      | $6701.66      | 0.00%             | 2048-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QBZY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13338 | PA      | $12479.15     | 0.00%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QCE51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     72307 | PA      | $68311.91     | 0.01%             | 2048-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QCSK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27543 | PA      | $25751.56     | 0.00%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QEYP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1151384 | PA      | $962492.63    | 0.07%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QF3P2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    142780 | PA      | $110942.40    | 0.01%             | 2050-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140QFKK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    820529 | PA      | $780215.35    | 0.06%             | 2035-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QFNV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    256675 | PA      | $220622.71    | 0.02%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QGD46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    247110 | PA      | $192474.54    | 0.01%             | 2050-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3140QHAV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    276140 | PA      | $242559.79    | 0.02%             | 2041-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140QHCQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    177058 | PA      | $173263.92    | 0.01%             | 2033-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QHF83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    152335 | PA      | $124506.90    | 0.01%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140QKKT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    616076 | PA      | $557078.56    | 0.04%             | 2036-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QKYZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1155564 | PA      | $996023.98    | 0.08%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QLD94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    222626 | PA      | $190189.81    | 0.01%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QLM29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    624247 | PA      | $534682.08    | 0.04%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QMTW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4077035 | PA      | $3333456.84   | 0.25%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QNCK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1662369 | PA      | $1359042.72   | 0.10%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QNLW0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4302634 | PA      | $3511655.90   | 0.27%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QPAJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    162398 | PA      | $150721.64    | 0.01%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QPVB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    845151 | PA      | $782702.32    | 0.06%             | 2052-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QRGJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    792003 | PA      | $812613.58    | 0.06%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QRR47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    235877 | PA      | $240150.28    | 0.02%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QST84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    703535 | PA      | $725655.98    | 0.06%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140QUYT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    780399 | PA      | $808653.89    | 0.06%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X3A81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     39357 | PA      | $35930.13     | 0.00%             | 2049-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X3AR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71841 | PA      | $70568.39     | 0.01%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X3BK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    498991 | PA      | $455836.78    | 0.03%             | 2047-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X42E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    670644 | PA      | $676177.26    | 0.05%             | 2049-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X42Z8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6613 | PA      | $6445.82      | 0.00%             | 2033-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X44T0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    345813 | PA      | $342115.30    | 0.03%             | 2034-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X45E2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22451 | PA      | $21513.42     | 0.00%             | 2044-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X45G7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     68191 | PA      | $65133.23     | 0.00%             | 2045-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X46J0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10855 | PA      | $10958.27     | 0.00%             | 2047-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X46U5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9462 | PA      | $9267.01      | 0.00%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X4G91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1194 | PA      | $1196.25      | 0.00%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X4GP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12199 | PA      | $12009.94     | 0.00%             | 2029-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3140X4HK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19035 | PA      | $18944.57     | 0.00%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X4L61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12317 | PA      | $12274.48     | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X4RF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    256879 | PA      | $261743.92    | 0.02%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X4TF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    109816 | PA      | $102731.31    | 0.01%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X4TX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32411 | PA      | $31991.98     | 0.00%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X5CF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48911 | PA      | $47666.35     | 0.00%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X5MB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       464 | PA      | $462.10       | 0.00%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X5NM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21436 | PA      | $21060.51     | 0.00%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X5SM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29706 | PA      | $29192.08     | 0.00%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X5TV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1270893 | PA      | $1157174.46   | 0.09%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X66F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57316 | PA      | $56191.61     | 0.00%             | 2035-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X66J5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56458 | PA      | $56249.59     | 0.00%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6BB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     81629 | PA      | $70215.25     | 0.01%             | 2050-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6DM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61652 | PA      | $56830.22     | 0.00%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X6JN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       134 | PA      | $133.24       | 0.00%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6L74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    722317 | PA      | $708352.74    | 0.05%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X6NR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2338 | PA      | $2325.62      | 0.00%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3140X6R29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21991 | PA      | $21756.04     | 0.00%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6TP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    195068 | PA      | $177801.34    | 0.01%             | 2050-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6XC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    108952 | PA      | $105053.96    | 0.01%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6YK1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56538 | PA      | $55100.21     | 0.00%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6YL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    475405 | PA      | $461887.42    | 0.04%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X6ZC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    538165 | PA      | $491786.33    | 0.04%             | 2048-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X72E8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    385404 | PA      | $362650.54    | 0.03%             | 2050-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X74Q9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    221475 | PA      | $207437.69    | 0.02%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X7Q44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    209563 | PA      | $208617.80    | 0.02%             | 2049-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X87J0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    512771 | PA      | $478739.77    | 0.04%             | 2035-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X8HM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    129093 | PA      | $117187.73    | 0.01%             | 2047-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X94X0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    441577 | PA      | $418263.42    | 0.03%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X95B7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2957371 | PA      | $2423943.76   | 0.19%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X9EK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    416449 | PA      | $387257.90    | 0.03%             | 2036-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X9L86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    251142 | PA      | $241959.80    | 0.02%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140X9NP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    391551 | PA      | $364113.33    | 0.03%             | 2036-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X9QG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    146034 | PA      | $126111.19    | 0.01%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140X9SL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    293926 | PA      | $274907.68    | 0.02%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XAG97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    230296 | PA      | $197853.37    | 0.02%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XAHP0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2291098 | PA      | $1910705.42   | 0.15%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XAQS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    726276 | PA      | $618263.90    | 0.05%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XAZ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    619063 | PA      | $534873.95    | 0.04%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XBG46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    715969 | PA      | $618361.54    | 0.05%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140XBWD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61027 | PA      | $55181.66     | 0.00%             | 2036-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XBXZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    204587 | PA      | $194124.58    | 0.01%             | 2048-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140XBZF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    192791 | PA      | $186623.28    | 0.01%             | 2035-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XCC89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    321358 | PA      | $261600.44    | 0.02%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XCFA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    422730 | PA      | $411016.00    | 0.03%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XCFU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    276177 | PA      | $257107.78    | 0.02%             | 2051-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XCG69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1342097 | PA      | $1144130.60   | 0.09%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XCVY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    844294 | PA      | $687284.37    | 0.05%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XD6E1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    439862 | PA      | $380161.17    | 0.03%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XD6G6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    441765 | PA      | $381805.35    | 0.03%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140XDHZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    259761 | PA      | $240415.72    | 0.02%             | 2036-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 3140XFK67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    524904 | PA      | $444039.82    | 0.03%             | 2041-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XGV89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    392060 | PA      | $351019.48    | 0.03%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XH4D6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    796355 | PA      | $800714.96    | 0.06%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XJXW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    769314 | PA      | $737310.40    | 0.06%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XJZV8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    719872 | PA      | $728434.10    | 0.06%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140XKQM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1849005 | PA      | $1667253.28   | 0.13%             | 2037-08-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140XLJA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1470469 | PA      | $1396957.64   | 0.11%             | 2037-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 3140XLKG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66146 | PA      | $61138.10     | 0.00%             | 2037-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 3140XNQ23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    279695 | PA      | $297514.54    | 0.02%             | 2054-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31410GEK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13222 | PA      | $13797.73     | 0.00%             | 2037-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31410LQT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10125 | PA      | $9851.83      | 0.00%             | 2030-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31410LT93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8587 | PA      | $8524.97      | 0.00%             | 2031-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31410LWR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    101915 | PA      | $96457.10     | 0.01%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31411DAA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25645 | PA      | $27082.54     | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31413VTW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10421 | PA      | $10899.13     | 0.00%             | 2037-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31414B7E4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     51204 | PA      | $52752.31     | 0.00%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31415P5W4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10998 | PA      | $11438.19     | 0.00%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31416VJ62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24739 | PA      | $26124.01     | 0.00%             | 2037-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31416WHV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     53778 | PA      | $54420.08     | 0.00%             | 2040-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31416WNJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12296 | PA      | $12702.64     | 0.00%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31416WSK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28522 | PA      | $29384.91     | 0.00%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31417BMB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16056 | PA      | $15664.59     | 0.00%             | 2032-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417DLN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     93854 | PA      | $89701.09     | 0.01%             | 2042-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417DLP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16330 | PA      | $15607.33     | 0.00%             | 2042-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31417DR96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3406 | PA      | $3357.75      | 0.00%             | 2027-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417DSS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1188 | PA      | $1138.06      | 0.00%             | 2042-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417EZ61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1667 | PA      | $1591.73      | 0.00%             | 2043-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31417FL55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6613 | PA      | $6512.99      | 0.00%             | 2028-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417FWC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10016 | PA      | $9840.45      | 0.00%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31417FXR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20900 | PA      | $20467.75     | 0.00%             | 2028-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417GGC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91350 | PA      | $87166.15     | 0.01%             | 2043-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417L4Y8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91811 | PA      | $94589.23     | 0.01%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417QNC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17548 | PA      | $18079.58     | 0.00%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31417Y6X0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14971 | PA      | $14762.71     | 0.00%             | 2031-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417YV95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23153 | PA      | $22768.88     | 0.00%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31417YVQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22638 | PA      | $21846.51     | 0.00%             | 2041-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418AE87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6979 | PA      | $6808.58      | 0.00%             | 2032-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418AJK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     39677 | PA      | $38610.14     | 0.00%             | 2032-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418BJZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8529 | PA      | $8487.00      | 0.00%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418BLU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    655292 | PA      | $641027.01    | 0.05%             | 2035-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418BNK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5658 | PA      | $5666.43      | 0.00%             | 2045-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418BXA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8035 | PA      | $7709.66      | 0.00%             | 2035-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418C3D4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21205 | PA      | $20574.20     | 0.00%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418CDL5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    121118 | PA      | $110639.86    | 0.01%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418CG65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6114 | PA      | $5585.42      | 0.00%             | 2047-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418CNR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1417 | PA      | $1409.02      | 0.00%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418CP99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     31667 | PA      | $28896.88     | 0.00%             | 2047-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418CPJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20124 | PA      | $19457.64     | 0.00%             | 2032-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418CS47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38009 | PA      | $35783.85     | 0.00%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418D2K7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    156743 | PA      | $121889.51    | 0.01%             | 2051-07-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418D2M3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3341643 | PA      | $2863595.20   | 0.22%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418D3X8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    651401 | PA      | $533664.40    | 0.04%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418D4C3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    117318 | PA      | $108727.90    | 0.01%             | 2036-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418D4G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    307431 | PA      | $269986.78    | 0.02%             | 2041-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418D4Q2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    127035 | PA      | $111311.79    | 0.01%             | 2036-08-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418D6L1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    393612 | PA      | $343776.07    | 0.03%             | 2041-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418D7F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    747107 | PA      | $639681.42    | 0.05%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418D7K2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3601410 | PA      | $3332345.23   | 0.25%             | 2036-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DB92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    755864 | PA      | $707493.20    | 0.05%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DBF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13067 | PA      | $12232.14     | 0.00%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DBG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12338 | PA      | $11957.43     | 0.00%             | 2049-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DC67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    763873 | PA      | $714832.02    | 0.05%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DCA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6085 | PA      | $5893.30      | 0.00%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DET5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    869868 | PA      | $813841.61    | 0.06%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DEU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9016 | PA      | $8726.78      | 0.00%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418DFE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5248 | PA      | $5014.79      | 0.00%             | 2034-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DGM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30119 | PA      | $28169.97     | 0.00%             | 2049-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DHK1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    738017 | PA      | $634985.44    | 0.05%             | 2049-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DKU5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27813 | PA      | $26001.24     | 0.00%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418DKY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17757 | PA      | $16567.93     | 0.00%             | 2035-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418DQ21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    109730 | PA      | $100418.03    | 0.01%             | 2040-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418DQ54<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    269592 | PA      | $256513.80    | 0.02%             | 2035-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DQ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1058087 | PA      | $909476.13    | 0.07%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DRW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    914944 | PA      | $747939.38    | 0.06%             | 2050-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418DSS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1050496 | PA      | $936587.41    | 0.07%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DTR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    474706 | PA      | $407494.88    | 0.03%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418DU67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    657177 | PA      | $580688.02    | 0.04%             | 2040-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DUH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2122046 | PA      | $1821593.91   | 0.14%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DVB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1098284 | PA      | $853640.12    | 0.07%             | 2050-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DWQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    293724 | PA      | $228128.93    | 0.02%             | 2051-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DYC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    970644 | PA      | $832198.16    | 0.06%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418DYG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    614532 | PA      | $517216.20    | 0.04%             | 2041-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DZH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    342798 | PA      | $266378.90    | 0.02%             | 2051-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DZU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    441336 | PA      | $343139.04    | 0.03%             | 2051-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418DZW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4468373 | PA      | $3829144.37   | 0.29%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418EAV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    414029 | PA      | $352159.01    | 0.03%             | 2042-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418EAX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    420252 | PA      | $379708.92    | 0.03%             | 2042-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ECP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1325199 | PA      | $1083027.96   | 0.08%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418ECT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    686036 | PA      | $618587.83    | 0.05%             | 2037-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418ECU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1272179 | PA      | $1175854.81   | 0.09%             | 2037-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31418ECZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    347963 | PA      | $309868.86    | 0.02%             | 2042-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ED49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1538672 | PA      | $1258589.35   | 0.10%             | 2052-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ED64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11367283 | PA      | $10118505.12  | 0.77%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418EDJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    619109 | PA      | $595665.33    | 0.05%             | 2037-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EGH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1686749 | PA      | $1562760.66   | 0.12%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EGJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2463862 | PA      | $2361366.04   | 0.18%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EGK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    807755 | PA      | $794433.90    | 0.06%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EHJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    411094 | PA      | $393949.37    | 0.03%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EKT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1763734 | PA      | $1734102.47   | 0.13%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ELW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    823722 | PA      | $809883.55    | 0.06%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EMT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1131202 | PA      | $1150784.64   | 0.09%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EP53<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    646932 | PA      | $671818.91    | 0.05%             | 2053-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EPC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1584127 | PA      | $1588309.34   | 0.12%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1498111 | PA      | $1519257.05   | 0.12%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EPE4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1742819 | PA      | $1789325.64   | 0.14%             | 2053-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EPT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1098003 | PA      | $1017063.17   | 0.08%             | 2053-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EQ94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    752348 | PA      | $765051.57    | 0.06%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EQQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1726133 | PA      | $1651023.18   | 0.13%             | 2053-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EQS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    243322 | PA      | $255410.31    | 0.02%             | 2053-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ES43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3152504 | PA      | $3162452.29   | 0.24%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ET59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1674095 | PA      | $1677910.43   | 0.13%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5517311 | PA      | $5606651.96   | 0.43%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EV80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    792690 | PA      | $804848.42    | 0.06%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EVA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    662900 | PA      | $680461.08    | 0.05%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EXW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    570801 | PA      | $591931.13    | 0.05%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418EYP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    200060 | PA      | $207218.75    | 0.02%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418FBP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    557852 | PA      | $571207.96    | 0.04%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418FE86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    955217 | PA      | $966252.95    | 0.07%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418FHZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3376143 | PA      | $3456977.96   | 0.26%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31418FMW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    377055 | PA      | $385945.36    | 0.03%             | 2040-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31418UV84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     88777 | PA      | $89782.90     | 0.01%             | 2040-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31419A4N4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12644 | PA      | $12206.39     | 0.00%             | 2041-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 15 Year                                                                                                                         | CUSIP: 31419BBH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       330 | PA      | $328.76       | 0.00%             | 2026-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31419EJB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    340458 | PA      | $350766.67    | 0.03%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31419ES83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21805 | PA      | $22279.74     | 0.00%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 20 Year                                                                                                                         | CUSIP: 31419HRV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       922 | PA      | $923.82       | 0.00%             | 2030-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                  | FNMA UMBS, 30 Year                                                                                                                         | CUSIP: 31419KF75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66630 | PA      | $65546.27     | 0.01%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                            | FHLMC UMBS, 30 Year                                                                                                                        | CUSIP: 31427MHC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4444328 | PA      | $4613752.96   | 0.35%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FedEx Corp.                                                           | FedEx Corp.                                                                                                                                | CUSIP: 31428XBE5<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8556.98      | 0.00%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FedEx Corp.                                                           | FedEx Corp.                                                                                                                                | CUSIP: 31428XBV7<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    274000 | PA      | $263896.98    | 0.02%             | 2029-08-05      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| FedEx Corp.                                                           | FedEx Corp.                                                                                                                                | CUSIP: 31428XBZ8<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    637000 | PA      | $642095.28    | 0.05%             | 2030-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FedEx Corp.                                                           | FedEx Corp.                                                                                                                                | CUSIP: 31428XDS2<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42269.57     | 0.00%             | 2046-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FedEx Corp.                                                           | FedEx Corp.                                                                                                                                | CUSIP: 31428XDT0<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    135000 | PA      | $110887.44    | 0.01%             | 2047-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal Express Corp. Pass-Through Trust                              | Federal Express Corp. Pass-Through Trust, Series 2020-1, Class AA                                                                          | CUSIP: 314353AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7326 | PA      | $6410.40      | 0.00%             | 2034-02-20      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                   | Fifth Third Bancorp                                                                                                                        | CUSIP: 316773CH1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    334000 | PA      | $413691.78    | 0.03%             | 2038-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                             | Florida Power & Light Co.                                                                                                                  | CUSIP: 341081GQ4<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |     66000 | PA      | $67581.50     | 0.01%             | 2033-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                               | Duke Energy Florida LLC                                                                                                                    | CUSIP: 341099CL1<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   2144000 | PA      | $2425604.46   | 0.19%             | 2038-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| State Board of Administration Finance Corp.                           | State Board of Administration Finance Corp., Series 2020A                                                                                  | CUSIP: 341271AF1<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |    147000 | PA      | $135691.51    | 0.01%             | 2030-07-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust A                            | Ford Credit Floorplan Master Owner Trust, Series 2018-4, Class A                                                                           | CUSIP: 34528PAK2<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $601387.52    | 0.05%             | 2030-11-15      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                             | Ford Motor Credit Co. LLC                                                                                                                  | CUSIP: 345397B93<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2117000 | PA      | $1980139.16   | 0.15%             | 2029-02-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                             | Ford Motor Credit Co. LLC                                                                                                                  | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $520972.16    | 0.04%             | 2028-05-12      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                             | Ford Motor Credit Co. LLC                                                                                                                  | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $214714.47    | 0.02%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                             | Ford Motor Credit Co. LLC                                                                                                                  | CUSIP: 345397H89<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    850000 | PA      | $846310.17    | 0.06%             | 2035-10-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Fortune Brands Innovations, Inc.                                      | Fortune Brands Innovations, Inc.                                                                                                           | CUSIP: 34964CAF3<br>LEI: 54930032LHW54PQUJD44 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26875.78     | 0.00%             | 2032-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fox Corp.                                                             | Fox Corp.                                                                                                                                  | CUSIP: 35137LAH8<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |    885000 | PA      | $898104.54    | 0.07%             | 2029-01-25      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Orange SA                                                             | Orange SA                                                                                                                                  | CUSIP: 35177PAX5<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    209000 | PA      | $207271.71    | 0.02%             | 2042-01-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Franklin Resources, Inc.                                              | Franklin Resources, Inc.                                                                                                                   | CUSIP: 354613AL5<br>LEI: RIFQSET379FOGTEFKS80 | Long             | DBT              | CORP              | US        |     36000 | PA      | $31845.78     | 0.00%             | 2030-10-30      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                | Freeport-McMoRan, Inc.                                                                                                                     | CUSIP: 35671DBC8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    589000 | PA      | $572803.88    | 0.04%             | 2043-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                | Freeport-McMoRan, Inc.                                                                                                                     | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    272000 | PA      | $282603.63    | 0.02%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                | Freeport-McMoRan, Inc.                                                                                                                     | CUSIP: 35671DCF0<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49765.67     | 0.00%             | 2030-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                | Freeport-McMoRan, Inc.                                                                                                                     | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50254.58     | 0.00%             | 2030-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GATX Corp.                                                            | GATX Corp.                                                                                                                                 | CUSIP: 361448BK8<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    601000 | PA      | $604740.00    | 0.05%             | 2033-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 36179BPH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34754 | PA      | $32662.48     | 0.00%             | 2043-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 15 Year                                                                                                                           | CUSIP: 36179MSA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12764 | PA      | $12593.52     | 0.00%             | 2027-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179NQ50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     71687 | PA      | $69800.38     | 0.01%             | 2043-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179Q6P1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     95684 | PA      | $89799.64     | 0.01%             | 2045-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179Q6Q9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    738979 | PA      | $716492.32    | 0.05%             | 2045-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179RBW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48615 | PA      | $44646.20     | 0.00%             | 2045-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179REA3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17219 | PA      | $17672.19     | 0.00%             | 2045-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179RZX0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     21524 | PA      | $22300.20     | 0.00%             | 2046-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179SEG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    197666 | PA      | $181210.90    | 0.01%             | 2046-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179SQZ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17414 | PA      | $17936.12     | 0.00%             | 2046-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179SSP3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     39747 | PA      | $36368.42     | 0.00%             | 2046-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179T4N2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5846 | PA      | $5441.26      | 0.00%             | 2048-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179TAL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    120782 | PA      | $116781.75    | 0.01%             | 2047-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 15 Year                                                                                                                           | CUSIP: 36179TD69<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11665 | PA      | $11535.15     | 0.00%             | 2032-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179TG33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5404 | PA      | $4937.87      | 0.00%             | 2047-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179TLS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5987869 | PA      | $5614632.62   | 0.43%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179U4D1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    136582 | PA      | $130512.27    | 0.01%             | 2049-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179U6U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    391875 | PA      | $354785.84    | 0.03%             | 2049-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179UCD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4424 | PA      | $4500.25      | 0.00%             | 2048-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179UGC0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     27100 | PA      | $26107.55     | 0.00%             | 2048-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179UH47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    130773 | PA      | $125981.81    | 0.01%             | 2048-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179UKW1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     62593 | PA      | $58579.14     | 0.00%             | 2049-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179UKY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4035977 | PA      | $4018580.33   | 0.31%             | 2049-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179UUJ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     31640 | PA      | $29290.96     | 0.00%             | 2049-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179V4U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2021608 | PA      | $1683470.89   | 0.13%             | 2051-01-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179VFT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17133 | PA      | $17471.25     | 0.00%             | 2050-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179VHT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    175124 | PA      | $162062.53    | 0.01%             | 2050-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179VSG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2910378 | PA      | $2530557.44   | 0.19%             | 2050-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 15 Year                                                                                                                           | CUSIP: 36179VU73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    235616 | PA      | $224128.61    | 0.02%             | 2035-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179VZQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1772098 | PA      | $1475695.54   | 0.11%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179VZU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    172449 | PA      | $165655.92    | 0.01%             | 2050-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179W2V9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2221860 | PA      | $2005280.40   | 0.15%             | 2052-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179W5C8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1924239 | PA      | $1736671.85   | 0.13%             | 2052-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WG28<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2412208 | PA      | $2008709.81   | 0.15%             | 2051-06-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WG51<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    315245 | PA      | $291499.48    | 0.02%             | 2051-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WJS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    385119 | PA      | $347831.52    | 0.03%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WNF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3650554 | PA      | $3297180.30   | 0.25%             | 2051-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WR26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9077533 | PA      | $7881377.44   | 0.60%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WRZ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5069393 | PA      | $4221336.71   | 0.32%             | 2051-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179WTX6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1822920 | PA      | $1517958.43   | 0.12%             | 2051-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179X2L9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2741326 | PA      | $2787277.45   | 0.21%             | 2053-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179X5G7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1657374 | PA      | $1663696.05   | 0.13%             | 2053-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XFG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    942766 | PA      | $901304.38    | 0.07%             | 2052-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XFJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1171227 | PA      | $1176969.97   | 0.09%             | 2052-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XFK7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    655748 | PA      | $667443.48    | 0.05%             | 2052-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XHX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1705591 | PA      | $1630931.95   | 0.12%             | 2052-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XNJ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    146087 | PA      | $151393.79    | 0.01%             | 2052-12-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XQX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1857159 | PA      | $1889565.70   | 0.14%             | 2053-01-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179XX50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1974676 | PA      | $1981305.93   | 0.15%             | 2053-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179YAU8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    323711 | PA      | $334841.82    | 0.03%             | 2053-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179YDJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1691452 | PA      | $1695475.18   | 0.13%             | 2053-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179YFN9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    455411 | PA      | $470817.77    | 0.04%             | 2053-09-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36179YMN1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    656426 | PA      | $680136.64    | 0.05%             | 2053-12-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 3617A0S98<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17300 | PA      | $15702.03     | 0.00%             | 2045-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36180AAG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3946480 | PA      | $4029719.64   | 0.31%             | 2054-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 36184HK37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     29330 | PA      | $26620.83     | 0.00%             | 2045-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 3618N5KX6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1594223 | PA      | $1625889.31   | 0.12%             | 2055-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 3618N5MS5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1429807 | PA      | $1475355.99   | 0.11%             | 2055-05-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202DZY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     27848 | PA      | $28535.07     | 0.00%             | 2033-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202E6C8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8803 | PA      | $8571.41      | 0.00%             | 2039-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202E7F0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9579 | PA      | $9401.35      | 0.00%             | 2039-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202F2L9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15303 | PA      | $14573.21     | 0.00%             | 2042-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202F4P8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10348 | PA      | $9634.91      | 0.00%             | 2042-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FCM6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4479 | PA      | $4358.05      | 0.00%             | 2039-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FE51<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7142 | PA      | $6984.99      | 0.00%             | 2040-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FFS0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     19017 | PA      | $18642.03     | 0.00%             | 2040-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FGC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2127 | PA      | $2085.12      | 0.00%             | 2040-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FGV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3340 | PA      | $3266.56      | 0.00%             | 2040-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FKM7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3446 | PA      | $3362.53      | 0.00%             | 2040-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FP67<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7379 | PA      | $7200.02      | 0.00%             | 2041-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FQ66<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13876 | PA      | $13539.50     | 0.00%             | 2041-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FQB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12169 | PA      | $12608.83     | 0.00%             | 2041-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FSD9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5236 | PA      | $5108.91      | 0.00%             | 2041-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FTK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8223 | PA      | $8023.76      | 0.00%             | 2041-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FVF0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1102 | PA      | $1074.92      | 0.00%             | 2041-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FY67<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1347 | PA      | $1313.89      | 0.00%             | 2041-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 36202FZY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5209 | PA      | $5082.30      | 0.00%             | 2041-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 3620ADMS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10733 | PA      | $11036.67     | 0.00%             | 2039-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 3622A2MZ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15055 | PA      | $14293.30     | 0.00%             | 2043-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA II, 30 Year                                                                                                                           | CUSIP: 3622A2SG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    108607 | PA      | $99605.28     | 0.01%             | 2046-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 3622AAB52<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4086 | PA      | $3982.49      | 0.00%             | 2043-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 3622AAB94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15459 | PA      | $15064.75     | 0.00%             | 2045-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                  | GNMA I, 30 Year                                                                                                                            | CUSIP: 36230N4Y8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     64766 | PA      | $61111.31     | 0.00%             | 2041-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                          | GS Mortgage Securities Trust, Series 2014-GC24, Class AS                                                                                   | CUSIP: 36253GAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140882 | PA      | $137277.51    | 0.01%             | 2047-09-10      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                          | GS Mortgage Securities Trust, Series 2018-GS9, Class A4                                                                                    | CUSIP: 36255NAT2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $198451.46    | 0.02%             | 2051-03-10      | Variable      | 3.99%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp.                                                | General Dynamics Corp.                                                                                                                     | CUSIP: 369550BH0<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23230.87     | 0.00%             | 2040-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp.                                                | General Dynamics Corp.                                                                                                                     | CUSIP: 369550BQ0<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7611.42      | 0.00%             | 2041-06-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                    | General Motors Co.                                                                                                                         | CUSIP: 37045VAP5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    547000 | PA      | $531012.46    | 0.04%             | 2038-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                    | General Motors Co.                                                                                                                         | CUSIP: 37045VAY6<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    400000 | PA      | $414899.61    | 0.03%             | 2029-10-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                    | General Motors Financial Co., Inc.                                                                                                         | CUSIP: 37045XDK9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    435000 | PA      | $428657.55    | 0.03%             | 2026-06-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                    | General Motors Financial Co., Inc.                                                                                                         | CUSIP: 37045XDP8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1488000 | PA      | $1418397.31   | 0.11%             | 2028-10-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Georgetown University (The)                                           | Georgetown University (The), Series A                                                                                                      | CUSIP: 37310PAB7<br>LEI: 549300GCL3B0KVXSX752 | Long             | DBT              | CORP              | US        |    294000 | PA      | $266612.68    | 0.02%             | 2118-10-01      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                                     | Georgia Power Co., Series A                                                                                                                | CUSIP: 373334KP5<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     89000 | PA      | $61797.97     | 0.00%             | 2051-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                                     | Georgia Power Co.                                                                                                                          | CUSIP: 373334KT7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    673000 | PA      | $689317.81    | 0.05%             | 2033-05-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558AX1<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32803.13     | 0.00%             | 2044-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558BD4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13856.84     | 0.00%             | 2046-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558BG7<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    821000 | PA      | $819326.42    | 0.06%             | 2035-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558BJ1<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    591000 | PA      | $556180.93    | 0.04%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558BK8<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     60000 | PA      | $50718.78     | 0.00%             | 2047-03-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558BM4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    393000 | PA      | $388856.25    | 0.03%             | 2027-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                 | Gilead Sciences, Inc.                                                                                                                      | CUSIP: 375558BT9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     15000 | PA      | $9735.72      | 0.00%             | 2050-10-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                             | Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement, Series 2021B                                                       | CUSIP: 38122NB68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $382796.42    | 0.03%             | 2042-06-01      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50560.50     | 0.00%             | 2028-04-23      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GVS0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     26000 | PA      | $23897.16     | 0.00%             | 2045-10-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GWV2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    166000 | PA      | $164852.00    | 0.01%             | 2029-04-23      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    203000 | PA      | $203403.21    | 0.02%             | 2029-05-01      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2854000 | PA      | $2565628.07   | 0.20%             | 2032-07-21      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2101000 | PA      | $2063330.26   | 0.16%             | 2028-02-24      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    954000 | PA      | $882747.69    | 0.07%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                       | Goldman Sachs Group, Inc. (The)                                                                                                            | CUSIP: 38141GZN7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    195000 | PA      | $154354.37    | 0.01%             | 2043-02-24      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Capital I                                               | Goldman Sachs Capital I                                                                                                                    | CUSIP: 38143VAA7<br>LEI: 5299005MCIJK7R2NP351 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106715.81    | 0.01%             | 2034-02-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| WW Grainger, Inc.                                                     | WW Grainger, Inc.                                                                                                                          | CUSIP: 384802AD6<br>LEI: 549300TWZSP6O1IH2V34 | Long             | DBT              | CORP              | US        |    154000 | PA      | $131142.55    | 0.01%             | 2047-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp.                                    | Grand Parkway Transportation Corp., System Toll, Series 2020B                                                                              | CUSIP: 38611TDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $70784.07     | 0.01%             | 2052-10-01      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                             | HCA, Inc.                                                                                                                                  | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    328000 | PA      | $316107.14    | 0.02%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                             | HCA, Inc.                                                                                                                                  | CUSIP: 404119CH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1119000 | PA      | $1104897.58   | 0.08%             | 2027-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                             | HCA, Inc.                                                                                                                                  | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    256000 | PA      | $213624.51    | 0.02%             | 2052-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Healthpeak OP LLC                                                     | Healthpeak OP LLC                                                                                                                          | CUSIP: 40414LAE9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |     28000 | PA      | $31147.36     | 0.00%             | 2041-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280BT5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    212000 | PA      | $213971.64    | 0.02%             | 2029-06-19      | Variable      | 4.58%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280CH0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1563000 | PA      | $1464092.42   | 0.11%             | 2031-06-04      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280CL1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    255000 | PA      | $245452.75    | 0.02%             | 2028-09-22      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280DL0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    687000 | PA      | $745590.47    | 0.06%             | 2036-05-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280DU0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1147000 | PA      | $1195093.84   | 0.09%             | 2029-03-09      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280DX4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    302000 | PA      | $328272.99    | 0.03%             | 2034-06-20      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                     | HSBC Holdings plc                                                                                                                          | CUSIP: 404280ES4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    877000 | PA      | $911035.11    | 0.07%             | 2036-03-03      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Halliburton Co.                                                       | Halliburton Co.                                                                                                                            | CUSIP: 406216BJ9<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17912.42     | 0.00%             | 2035-11-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Hasbro, Inc.                                                          | Hasbro, Inc.                                                                                                                               | CUSIP: 418056AZ0<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39299.65     | 0.00%             | 2029-11-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Healthcare Realty Holdings LP                                         | Healthcare Realty Holdings LP                                                                                                              | CUSIP: 42225UAD6<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              | CORP              | US        |     59000 | PA      | $58660.36     | 0.00%             | 2026-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Helmerich & Payne, Inc.                                               | Helmerich & Payne, Inc.                                                                                                                    | CUSIP: 423452AG6<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |    606000 | PA      | $541780.33    | 0.04%             | 2031-09-29      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Helmerich & Payne, Inc.                                               | Helmerich & Payne, Inc.                                                                                                                    | CUSIP: 423452AN1<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |    597000 | PA      | $595159.87    | 0.05%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hershey Co. (The)                                                     | Hershey Co. (The)                                                                                                                          | CUSIP: 427866AW8<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $898991.69    | 0.07%             | 2046-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                                        | Hewlett Packard Enterprise Co.                                                                                                             | CUSIP: 42824CBK4<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |     27000 | PA      | $26771.96     | 0.00%             | 2026-04-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Canada                                                                | Canada Government Bond                                                                                                                     | CUSIP: 43358BAA1<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |    200000 | PA      | $206823.10    | 0.02%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                | Home Depot, Inc. (The)                                                                                                                     | CUSIP: 437076BN1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    837000 | PA      | $826157.69    | 0.06%             | 2026-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                | Home Depot, Inc. (The)                                                                                                                     | CUSIP: 437076BP6<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    866000 | PA      | $617441.78    | 0.05%             | 2056-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                | Home Depot, Inc. (The)                                                                                                                     | CUSIP: 437076BT8<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1226000 | PA      | $1205613.96   | 0.09%             | 2027-09-14      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                | Home Depot, Inc. (The)                                                                                                                     | CUSIP: 437076BZ4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    142000 | PA      | $98692.09     | 0.01%             | 2049-12-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                | Home Depot, Inc. (The)                                                                                                                     | CUSIP: 437076CH3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     82000 | PA      | $77114.90     | 0.01%             | 2028-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Honeywell International, Inc.                                         | Honeywell International, Inc.                                                                                                              | CUSIP: 438516BZ8<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    330000 | PA      | $301537.67    | 0.02%             | 2030-06-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Honeywell International, Inc.                                         | Honeywell International, Inc.                                                                                                              | CUSIP: 438516CK0<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    536000 | PA      | $555853.63    | 0.04%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                          | Humana, Inc.                                                                                                                               | CUSIP: 444859BG6<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   1182000 | PA      | $1016731.93   | 0.08%             | 2047-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                          | Humana, Inc.                                                                                                                               | CUSIP: 444859BQ4<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     47000 | PA      | $45500.83     | 0.00%             | 2027-02-03      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                          | Humana, Inc.                                                                                                                               | CUSIP: 444859BX9<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32381.08     | 0.00%             | 2053-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.                                           | Huntington Bancshares, Inc.                                                                                                                | CUSIP: 446150AX2<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   1367000 | PA      | $1183484.78   | 0.09%             | 2036-08-15      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Hydro-Quebec                                                          | Hydro-Quebec                                                                                                                               | CUSIP: 448814DC4<br>LEI: 6THEVG93PYJH84S4D167 | Long             | DBT              | NUSS              | CA        |     50000 | PA      | $58375.09     | 0.00%             | 2029-12-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                     | State of Illinois                                                                                                                          | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    357745 | PA      | $366669.51    | 0.03%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Illinois Tool Works, Inc.                                             | Illinois Tool Works, Inc.                                                                                                                  | CUSIP: 452308AQ2<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | DBT              | CORP              | US        |    233000 | PA      | $228239.85    | 0.02%             | 2041-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                                                 | Republic of Indonesia                                                                                                                      | CUSIP: 455780DQ6<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    900000 | PA      | $906944.36    | 0.07%             | 2028-01-11      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                                                 | Republic of Indonesia                                                                                                                      | CUSIP: 455780DS2<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |     55000 | PA      | $56291.32     | 0.00%             | 2053-01-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Voya Financial, Inc.                                                  | Voya Financial, Inc.                                                                                                                       | CUSIP: 45685EAJ5<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |    102000 | PA      | $103043.12    | 0.01%             | 2043-07-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                           | Intel Corp.                                                                                                                                | CUSIP: 458140AP5<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1244000 | PA      | $1028410.06   | 0.08%             | 2042-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                           | Intel Corp.                                                                                                                                | CUSIP: 458140BH2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    378000 | PA      | $353207.19    | 0.03%             | 2029-11-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                           | Intel Corp.                                                                                                                                | CUSIP: 458140BK5<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    681000 | PA      | $398985.43    | 0.03%             | 2060-02-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                           | Intel Corp.                                                                                                                                | CUSIP: 458140BL3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     84000 | PA      | $76176.63     | 0.01%             | 2040-03-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                           | Intel Corp.                                                                                                                                | CUSIP: 458140BU3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    819000 | PA      | $721149.00    | 0.06%             | 2031-08-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Inter-American Development Bank                                       | Inter-American Development Bank                                                                                                            | CUSIP: 4581X0EH7<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | US        |    312000 | PA      | $314909.33    | 0.02%             | 2028-01-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Inter-American Development Bank                                       | Inter-American Development Bank                                                                                                            | CUSIP: 4581X0EL8<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | US        |    200000 | PA      | $207743.53    | 0.02%             | 2033-09-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Inter-American Development Bank                                       | Inter-American Development Bank                                                                                                            | CUSIP: 4581X0EM6<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | US        |    715000 | PA      | $720708.70    | 0.06%             | 2027-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Inter-American Investment Corp.                                       | Inter-American Investment Corp.                                                                                                            | CUSIP: 45828Q2B2<br>LEI: 5493001X4LH60PFRL744 | Long             | DBT              | NUSS              | US        |   1649000 | PA      | $1665796.35   | 0.13%             | 2028-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058HJ5<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |    341000 | PA      | $318288.30    | 0.02%             | 2029-10-23      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058JC8<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |    189000 | PA      | $167777.88    | 0.01%             | 2030-05-14      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058JR5<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |    355000 | PA      | $314297.95    | 0.02%             | 2031-02-10      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058JW4<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |    267000 | PA      | $253958.41    | 0.02%             | 2028-04-20      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058JZ7<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |   2190000 | PA      | $2051245.59   | 0.16%             | 2028-09-13      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058KA0<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |    776000 | PA      | $688463.41    | 0.05%             | 2031-11-03      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058KQ5<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |    971000 | PA      | $980551.83    | 0.07%             | 2030-02-14      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development                   | International Bank for Reconstruction & Development                                                                                        | CUSIP: 459058LL5<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | US        |     12000 | PA      | $11907.30     | 0.00%             | 2034-08-28      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                                 | International Business Machines Corp.                                                                                                      | CUSIP: 459200BB6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   1382000 | PA      | $1504487.80   | 0.11%             | 2032-11-29      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| International Finance Corp.                                           | International Finance Corp.                                                                                                                | CUSIP: 45950VHX7<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | US        |      5000 | PA      | $4969.38      | 0.00%             | 2026-04-07      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| International Paper Co.                                               | International Paper Co.                                                                                                                    | CUSIP: 460146CN1<br>LEI: 824LMFJDH41EY779Q875 | Long             | DBT              | CORP              | US        |    228000 | PA      | $212371.00    | 0.02%             | 2046-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| IPALCO Enterprises, Inc.                                              | IPALCO Enterprises, Inc.                                                                                                                   | CUSIP: 462613AP5<br>LEI: 5493000YFVK2DZX0JV43 | Long             | DBT              | CORP              | US        |    144000 | PA      | $141476.29    | 0.01%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| State of Israel                                                       | Israel Government AID Bond                                                                                                                 | CUSIP: 46513EFG2<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | USGA              | IL        |    436000 | PA      | $472718.29    | 0.04%             | 2033-09-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Israel                                                       | State of Israel Government Bond                                                                                                            | CUSIP: 46513JXN6<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    313000 | PA      | $213540.08    | 0.02%             | 2050-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| State of Israel                                                       | State of Israel Government Bond                                                                                                            | CUSIP: 46514BRN9<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |   1275000 | PA      | $1312979.62   | 0.10%             | 2029-03-12      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Republic of Italy                                                     | Italian Republic Government Bond                                                                                                           | CUSIP: 465410BY3<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |    452000 | PA      | $434718.91    | 0.03%             | 2029-10-17      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Republic of Italy                                                     | Italian Republic Government Bond                                                                                                           | CUSIP: 465410CC0<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |     80000 | PA      | $59999.21     | 0.00%             | 2051-05-06      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust                            | JPMDB Commercial Mortgage Securities Trust, Series 2016-C2, Class B                                                                        | CUSIP: 46590LAY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $17893.61     | 0.00%             | 2049-06-15      | Variable      | 3.99%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust                            | JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class B                                                                        | CUSIP: 46590TAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $16481.07     | 0.00%             | 2050-03-15      | Variable      | 4.01%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL                                              | JBS USA Holding Lux SARL                                                                                                                   | CUSIP: 46590XAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     26000 | PA      | $24719.29     | 0.00%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL                                              | JBS USA Holding Lux SARL                                                                                                                   | CUSIP: 46590XAN6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    610000 | PA      | $587650.80    | 0.04%             | 2029-02-02      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                            | JPMBB Commercial Mortgage Securities Trust, Series 2013-C12, Class C                                                                       | CUSIP: 46639NAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8980 | PA      | $8669.36      | 0.00%             | 2045-07-15      | Variable      | 4.07%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                            | JPMBB Commercial Mortgage Securities Trust, Series 2015-C29, Class B                                                                       | CUSIP: 46644RBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16752 | PA      | $16699.99     | 0.00%             | 2048-05-15      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| JPMCC Commercial Mortgage Securities Trust                            | JPMCC Commercial Mortgage Securities Trust, Series 2017-JP5, Class A5                                                                      | CUSIP: 46647TAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $597351.98    | 0.05%             | 2050-03-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Japan Bank for International Cooperation                              | Japan Bank for International Cooperation                                                                                                   | CUSIP: 471048AR9<br>LEI: 549300TJ3QFYVCTSCJ29 | Long             | DBT              | NUSS              | JP        |      1000 | PA      | $998.13       | 0.00%             | 2026-01-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Japan Bank for International Cooperation                              | Japan Bank for International Cooperation                                                                                                   | CUSIP: 471048AZ1<br>LEI: 549300TJ3QFYVCTSCJ29 | Long             | DBT              | NUSS              | JP        |    760000 | PA      | $749074.62    | 0.06%             | 2026-11-04      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Japan Bank for International Cooperation                              | Japan Bank for International Cooperation                                                                                                   | CUSIP: 471048BQ0<br>LEI: 549300TJ3QFYVCTSCJ29 | Long             | DBT              | NUSS              | JP        |     60000 | PA      | $58899.88     | 0.00%             | 2027-11-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Japan Bank for International Cooperation                              | Japan Bank for International Cooperation                                                                                                   | CUSIP: 471048CM8<br>LEI: 549300TJ3QFYVCTSCJ29 | Long             | DBT              | NUSS              | JP        |     65000 | PA      | $58786.92     | 0.00%             | 2031-04-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Japan International Cooperation Agency                                | Japan International Cooperation Agency                                                                                                     | CUSIP: 47109LAB0<br>LEI: 254900XEIG78M2AJB031 | Long             | DBT              | NUSS              | JP        |     65000 | PA      | $64043.66     | 0.00%             | 2027-04-27      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Japan International Cooperation Agency                                | Japan International Cooperation Agency                                                                                                     | CUSIP: 47109LAC8<br>LEI: 254900XEIG78M2AJB031 | Long             | DBT              | NUSS              | JP        |    876000 | PA      | $868114.59    | 0.07%             | 2028-06-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                                     | Johnson & Johnson                                                                                                                          | CUSIP: 478160CL6<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10675.45     | 0.00%             | 2038-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                                    | Johnson Controls International plc                                                                                                         | CUSIP: 478375AN8<br>LEI: 549300XQ6S1GYKGBL205 | Long             | DBT              | CORP              | IE        |    505000 | PA      | $443672.52    | 0.03%             | 2064-07-02      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                                    | Johnson Controls International plc                                                                                                         | CUSIP: 478375AU2<br>LEI: 549300XQ6S1GYKGBL205 | Long             | DBT              | CORP              | IE        |    529000 | PA      | $462974.01    | 0.04%             | 2047-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                                    | Johnson Controls International plc                                                                                                         | CUSIP: 47837RAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    287000 | PA      | $256808.00    | 0.02%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                                    | Johnson Controls International plc                                                                                                         | CUSIP: 47837RAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    174000 | PA      | $153478.92    | 0.01%             | 2031-09-16      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund                            | JPMorgan U.S. Government Money Market Fund, Class IM                                                                                       | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |  32808462 | NS      | $32808462.32  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                                             | KLA Corp.                                                                                                                                  | CUSIP: 482480AN0<br>LEI: 549300H0BF5JCG96TJ81 | Long             | DBT              | CORP              | US        |    662000 | PA      | $632483.03    | 0.05%             | 2062-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kaiser Foundation Hospitals                                           | Kaiser Foundation Hospitals, Series 2021                                                                                                   | CUSIP: 48305QAG8<br>LEI: DW4Z57L3G4IRMHYZYK62 | Long             | DBT              | CORP              | US        |    119000 | PA      | $79884.30     | 0.01%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Kenvue, Inc.                                                          | Kenvue, Inc.                                                                                                                               | CUSIP: 49177JAK8<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |    437000 | PA      | $448079.63    | 0.03%             | 2033-03-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Keurig Dr. Pepper, Inc.                                               | Keurig Dr. Pepper, Inc.                                                                                                                    | CUSIP: 49271VAP5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    556000 | PA      | $549343.14    | 0.04%             | 2029-04-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Keysight Technologies, Inc.                                           | Keysight Technologies, Inc.                                                                                                                | CUSIP: 49338LAF0<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38242.83     | 0.00%             | 2029-10-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                                      | Kilroy Realty LP                                                                                                                           | CUSIP: 49427RAQ5<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    496000 | PA      | $415846.21    | 0.03%             | 2032-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corp.                                                  | Kimberly-Clark Corp.                                                                                                                       | CUSIP: 494368BV4<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |     90000 | PA      | $65614.69     | 0.01%             | 2046-07-30      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Kimco Realty OP LLC                                                   | Kimco Realty OP LLC                                                                                                                        | CUSIP: 49446RBA6<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              | CORP              | US        |    289000 | PA      | $289560.81    | 0.02%             | 2033-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                   | Kinder Morgan, Inc.                                                                                                                        | CUSIP: 49456BAH4<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    217000 | PA      | $211864.92    | 0.02%             | 2045-06-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                   | Kinder Morgan, Inc.                                                                                                                        | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35251.27     | 0.00%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                   | Kinder Morgan, Inc.                                                                                                                        | CUSIP: 49456BAV3<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   2221000 | PA      | $2238576.96   | 0.17%             | 2033-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Korea Development Bank (The)                                          | Korea Development Bank (The)                                                                                                               | CUSIP: 500630DX3<br>LEI: 549300ML2LNRZUCS7149 | Long             | DBT              | NUSS              | KR        |    200000 | PA      | $202181.84    | 0.02%             | 2033-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau                                       | Kreditanstalt fuer Wiederaufbau                                                                                                            | CUSIP: 500769BR4<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | NUSS              | DE        |    918000 | PA      | $599648.04    | 0.05%             | 2036-04-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau                                       | Kreditanstalt fuer Wiederaufbau                                                                                                            | CUSIP: 500769JG0<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | NUSS              | DE        |    166000 | PA      | $144949.39    | 0.01%             | 2030-09-30      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau                                       | Kreditanstalt fuer Wiederaufbau                                                                                                            | CUSIP: 500769KH6<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | NUSS              | DE        |     75000 | PA      | $78008.40     | 0.01%             | 2030-03-18      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                                 | Kraft Heinz Foods Co.                                                                                                                      | CUSIP: 50076QAN6<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    872000 | PA      | $946969.12    | 0.07%             | 2040-02-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                                 | Kraft Heinz Foods Co.                                                                                                                      | CUSIP: 50077LAX4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    260000 | PA      | $238265.08    | 0.02%             | 2039-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                                 | Kraft Heinz Foods Co.                                                                                                                      | CUSIP: 50077LBF2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64454.29     | 0.00%             | 2031-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kroger Co. (The)                                                      | Kroger Co. (The)                                                                                                                           | CUSIP: 501044CN9<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    143000 | PA      | $144957.94    | 0.01%             | 2040-07-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Kroger Co. (The)                                                      | Kroger Co. (The)                                                                                                                           | CUSIP: 501044DX6<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    130000 | PA      | $126458.16    | 0.01%             | 2064-09-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| LYB International Finance III LLC                                     | LYB International Finance III LLC                                                                                                          | CUSIP: 50249AAK9<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |     88000 | PA      | $55958.04     | 0.00%             | 2060-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Laboratory Corp. of America Holdings                                  | Laboratory Corp. of America Holdings                                                                                                       | CUSIP: 50540RAS1<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    202000 | PA      | $182567.82    | 0.01%             | 2045-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Lam Research Corp.                                                    | Lam Research Corp.                                                                                                                         | CUSIP: 512807AX6<br>LEI: 549300I4GMO6D34U1T02 | Long             | DBT              | CORP              | US        |     50000 | PA      | $32033.16     | 0.00%             | 2060-06-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Landwirtschaftliche Rentenbank                                        | Landwirtschaftliche Rentenbank                                                                                                             | CUSIP: 515110BY9<br>LEI: 529900Z3J0N6S0F7CT25 | Long             | DBT              | NUSS              | DE        |    120000 | PA      | $105597.68    | 0.01%             | 2030-09-03      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                                 | Las Vegas Sands Corp.                                                                                                                      | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22406.40     | 0.00%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Leggett & Platt, Inc.                                                 | Leggett & Platt, Inc.                                                                                                                      | CUSIP: 524660AZ0<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | DBT              | CORP              | US        |     79000 | PA      | $77673.51     | 0.01%             | 2029-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Leggett & Platt, Inc.                                                 | Leggett & Platt, Inc.                                                                                                                      | CUSIP: 524660BA4<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | DBT              | CORP              | US        |    100000 | PA      | $64958.51     | 0.00%             | 2051-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Leidos, Inc.                                                          | Leidos, Inc.                                                                                                                               | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |    454000 | PA      | $454190.34    | 0.03%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Lennox International, Inc.                                            | Lennox International, Inc.                                                                                                                 | CUSIP: 526107AG2<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113893.68    | 0.01%             | 2028-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corp.                                                | Lincoln National Corp.                                                                                                                     | CUSIP: 534187BJ7<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    934000 | PA      | $891157.93    | 0.07%             | 2030-01-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                              | Lloyds Banking Group plc                                                                                                                   | CUSIP: 53944YAQ6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    202000 | PA      | $151848.67    | 0.01%             | 2046-12-14      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                 | Lockheed Martin Corp., Series B                                                                                                            | CUSIP: 539830AR0<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     15000 | PA      | $16815.91     | 0.00%             | 2036-09-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                 | Lockheed Martin Corp.                                                                                                                      | CUSIP: 539830BC2<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |   1748000 | PA      | $1625317.27   | 0.12%             | 2035-03-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                 | Lockheed Martin Corp.                                                                                                                      | CUSIP: 539830BL2<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9185.61      | 0.00%             | 2046-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                     | Lowe's Cos., Inc.                                                                                                                          | CUSIP: 548661DV6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97835.76     | 0.01%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                     | Lowe's Cos., Inc.                                                                                                                          | CUSIP: 548661DZ7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    160000 | PA      | $103388.78    | 0.01%             | 2050-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                     | Lowe's Cos., Inc.                                                                                                                          | CUSIP: 548661EQ6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    747000 | PA      | $773958.96    | 0.06%             | 2033-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corp.                                                        | M&T Bank Corp.                                                                                                                             | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1362000 | PA      | $1374369.91   | 0.10%             | 2034-01-27      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Sekisui House US, Inc.                                                | Sekisui House US, Inc.                                                                                                                     | CUSIP: 552676AV0<br>LEI: 5299005FV4VNV75R8R35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $68549.18     | 0.01%             | 2061-08-06      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                               | MPLX LP                                                                                                                                    | CUSIP: 55336VAL4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    214000 | PA      | $192489.25    | 0.01%             | 2047-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp.                                              | Marathon Petroleum Corp.                                                                                                                   | CUSIP: 56585AAH5<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43433.74     | 0.00%             | 2044-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                                           | Marsh & McLennan Cos., Inc.                                                                                                                | CUSIP: 571748BD3<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     40000 | PA      | $33535.86     | 0.00%             | 2048-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                                           | Marsh & McLennan Cos., Inc.                                                                                                                | CUSIP: 571748BG6<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    311000 | PA      | $314599.85    | 0.02%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                                           | Marsh & McLennan Cos., Inc.                                                                                                                | CUSIP: 571748BN1<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1525000 | PA      | $1392966.71   | 0.11%             | 2030-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                          | Marriott International, Inc., Series GG                                                                                                    | CUSIP: 571903BF9<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84222.59     | 0.01%             | 2032-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Masco Corp.                                                           | Masco Corp.                                                                                                                                | CUSIP: 574599BR6<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |    129000 | PA      | $86271.76     | 0.01%             | 2051-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Mastercard, Inc.                                                      | Mastercard, Inc.                                                                                                                           | CUSIP: 57636QAR5<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208811.54    | 0.02%             | 2027-03-26      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Mastercard, Inc.                                                      | Mastercard, Inc.                                                                                                                           | CUSIP: 57636QAX2<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56789.64     | 0.00%             | 2033-03-09      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Mastercard, Inc.                                                      | Mastercard, Inc.                                                                                                                           | CUSIP: 57636QBC7<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     37000 | PA      | $37244.29     | 0.00%             | 2035-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Mattel, Inc.                                                          | Mattel, Inc.                                                                                                                               | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    410000 | PA      | $392194.69    | 0.03%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| McCormick & Co., Inc.                                                 | McCormick & Co., Inc.                                                                                                                      | CUSIP: 579780AP2<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |    526000 | PA      | $434628.07    | 0.03%             | 2047-08-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                      | McDonald's Corp.                                                                                                                           | CUSIP: 58013MEZ3<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    388000 | PA      | $388655.99    | 0.03%             | 2035-12-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                      | McDonald's Corp.                                                                                                                           | CUSIP: 58013MFS8<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204678.88    | 0.02%             | 2032-09-09      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Memorial Sloan-Kettering Cancer Center                                | Memorial Sloan-Kettering Cancer Center                                                                                                     | CUSIP: 586054AA6<br>LEI: 549300IZ71UAMEHWL382 | Long             | DBT              | CORP              | US        |     47000 | PA      | $45949.61     | 0.00%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Memorial Sloan-Kettering Cancer Center                                | Memorial Sloan-Kettering Cancer Center                                                                                                     | CUSIP: 586054AB4<br>LEI: 549300IZ71UAMEHWL382 | Long             | DBT              | CORP              | US        |    110000 | PA      | $90415.37     | 0.01%             | 2052-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                                     | Merck & Co., Inc.                                                                                                                          | CUSIP: 589331AS6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    108000 | PA      | $88665.96     | 0.01%             | 2042-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                                     | Merck & Co., Inc.                                                                                                                          | CUSIP: 58933YAT2<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    263000 | PA      | $213292.57    | 0.02%             | 2045-02-10      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                                     | Merck & Co., Inc.                                                                                                                          | CUSIP: 58933YAX3<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    678000 | PA      | $667344.12    | 0.05%             | 2029-03-07      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                                     | Merck & Co., Inc.                                                                                                                          | CUSIP: 58933YBG9<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    279000 | PA      | $167540.11    | 0.01%             | 2061-12-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                         | MetLife, Inc.                                                                                                                              | CUSIP: 59156RAJ7<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    740000 | PA      | $832528.86    | 0.06%             | 2034-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                         | MetLife, Inc.                                                                                                                              | CUSIP: 59156RAM0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    697000 | PA      | $747449.20    | 0.06%             | 2035-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                         | MetLife, Inc.                                                                                                                              | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |     30000 | PA      | $39944.20     | 0.00%             | 2039-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                         | MetLife, Inc.                                                                                                                              | CUSIP: 59156RBR8<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    298000 | PA      | $269786.67    | 0.02%             | 2046-05-13      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                       | Microsoft Corp.                                                                                                                            | CUSIP: 594918BC7<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    700000 | PA      | $667208.22    | 0.05%             | 2035-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                       | Microsoft Corp.                                                                                                                            | CUSIP: 594918BE3<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    291000 | PA      | $239039.97    | 0.02%             | 2055-02-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                  | Mitsubishi UFJ Financial Group, Inc.                                                                                                       | CUSIP: 606822BK9<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    750000 | PA      | $662531.36    | 0.05%             | 2039-07-18      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                          | Mizuho Financial Group, Inc.                                                                                                               | CUSIP: 60687YBT5<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   2820000 | PA      | $2512840.27   | 0.19%             | 2032-07-09      | Variable      | 2.26%                 | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                                          | Mondelez International, Inc.                                                                                                               | CUSIP: 609207AY1<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    169000 | PA      | $145244.95    | 0.01%             | 2032-10-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Moody's Corp.                                                         | Moody's Corp.                                                                                                                              | CUSIP: 615369AP0<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |     76000 | PA      | $76449.72     | 0.01%             | 2029-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                    | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class AS                                                              | CUSIP: 61690FAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40000 | PA      | $39518.20     | 0.00%             | 2048-04-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                                                | Morgan Stanley Bank NA                                                                                                                     | CUSIP: 61690U8G8<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    260000 | PA      | $260800.61    | 0.02%             | 2027-10-15      | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                        | Morgan Stanley Capital I Trust, Series 2016-UB12, Class A3                                                                                 | CUSIP: 61691EAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    498320 | PA      | $492060.77    | 0.04%             | 2049-12-15      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                    | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A4                                                              | CUSIP: 61691GAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    295000 | PA      | $292269.94    | 0.02%             | 2049-12-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                        | Morgan Stanley Capital I Trust, Series 2017-H1, Class C                                                                                    | CUSIP: 61691JBA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25000 | PA      | $23859.11     | 0.00%             | 2050-06-15      | Variable      | 4.28%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                        | Morgan Stanley Capital I Trust, Series 2019-L3, Class A4                                                                                   | CUSIP: 61691UBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $95660.92     | 0.01%             | 2052-11-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    936000 | PA      | $879781.52    | 0.07%             | 2031-01-22      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 6174468X0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2659000 | PA      | $2341025.35   | 0.18%             | 2032-04-28      | Variable      | 1.93%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 6174468Y8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    360000 | PA      | $233078.54    | 0.02%             | 2052-01-25      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61744YAK4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1024000 | PA      | $1014627.40   | 0.08%             | 2028-07-22      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61744YAL2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81883.80     | 0.01%             | 2038-07-22      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61744YAR9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    247000 | PA      | $233881.34    | 0.02%             | 2039-04-22      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61747YEC5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1937000 | PA      | $1904853.90   | 0.15%             | 2027-07-20      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61747YEK7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    367000 | PA      | $360389.35    | 0.03%             | 2028-01-21      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15863.57     | 0.00%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                                             | CUSIP: 61747YFM2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10547.54     | 0.00%             | 2039-02-07      | Variable      | 5.94%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                    | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C31, Class A5                                                              | CUSIP: 61766RAZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $444142.32    | 0.03%             | 2049-11-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                        | Morgan Stanley Capital I Trust, Series 2019-L2, Class A4                                                                                   | CUSIP: 61768HAW6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     50000 | PA      | $49630.81     | 0.00%             | 2052-03-15      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Direct Lending Fund                                    | Morgan Stanley Direct Lending Fund                                                                                                         | CUSIP: 61774AAF0<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87670.61     | 0.01%             | 2029-05-17      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions, Inc.                                              | Motorola Solutions, Inc.                                                                                                                   | CUSIP: 620076BW8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42157.40     | 0.00%             | 2032-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Mount Sinai Hospital (The)                                            | Mount Sinai Hospital (The), Series 2019                                                                                                    | CUSIP: 623115AE2<br>LEI: 549300IJEDK5LH7YPT15 | Long             | DBT              | CORP              | US        |     71000 | PA      | $50607.73     | 0.00%             | 2049-07-01      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| NVR, Inc.                                                             | NVR, Inc.                                                                                                                                  | CUSIP: 62944TAF2<br>LEI: 529900RWXR4JI3JYTV70 | Long             | DBT              | CORP              | US        |    282000 | PA      | $268392.54    | 0.02%             | 2030-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                                | NXP BV                                                                                                                                     | CUSIP: 62954HAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102000 | PA      | $91312.91     | 0.01%             | 2032-02-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                                | NXP BV                                                                                                                                     | CUSIP: 62954HAV0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $16021.88     | 0.00%             | 2029-06-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                                | NXP BV                                                                                                                                     | CUSIP: 62954HBH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    122000 | PA      | $124057.07    | 0.01%             | 2035-08-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nasdaq, Inc.                                                          | Nasdaq, Inc.                                                                                                                               | CUSIP: 63111XAL5<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |    704000 | PA      | $738794.19    | 0.06%             | 2063-06-28      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                                          | National Australia Bank Ltd.                                                                                                               | CUSIP: 63254ABE7<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |   1098000 | PA      | $1099646.55   | 0.08%             | 2027-06-09      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| National Health Investors, Inc.                                       | National Health Investors, Inc.                                                                                                            | CUSIP: 63633DAF1<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | DBT              | CORP              | US        |    110000 | PA      | $99917.12     | 0.01%             | 2031-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NNN REIT, Inc.                                                        | NNN REIT, Inc.                                                                                                                             | CUSIP: 637417AM8<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              | CORP              | US        |    230000 | PA      | $204969.62    | 0.02%             | 2048-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.                    | National Rural Utilities Cooperative Finance Corp.                                                                                         | CUSIP: 63743HFG2<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20353.09     | 0.00%             | 2028-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.                    | National Rural Utilities Cooperative Finance Corp.                                                                                         | CUSIP: 63743HFR8<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10147.69     | 0.00%             | 2027-05-06      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Nationwide Financial Services, Inc.                                   | Nationwide Financial Services, Inc.                                                                                                        | CUSIP: 638612AJ0<br>LEI: 5493001H7AZNDS6BKJ36 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130175.02    | 0.01%             | 2037-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                         | Netflix, Inc.                                                                                                                              | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    245000 | PA      | $246120.41    | 0.02%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                         | Netflix, Inc.                                                                                                                              | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     99000 | PA      | $104424.85    | 0.01%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Nevada Power Co.                                                      | Nevada Power Co., Series EE                                                                                                                | CUSIP: 641423CE6<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |   1102000 | PA      | $735192.34    | 0.06%             | 2050-08-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                             | New Jersey Economic Development Authority, Pension Funding, Series 1997A                                                                   | CUSIP: 645913AA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     35000 | PA      | $36619.73     | 0.00%             | 2029-02-15      | Fixed         | 7.42%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                         | New Jersey Turnpike Authority, Series 2009F                                                                                                | CUSIP: 646139W35<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $302520.37    | 0.02%             | 2040-01-01      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| Newmont Corp.                                                         | Newmont Corp.                                                                                                                              | CUSIP: 651639AZ9<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22780.38     | 0.00%             | 2032-07-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                 | NextEra Energy Capital Holdings, Inc.                                                                                                      | CUSIP: 65339KAV2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    252000 | PA      | $246124.35    | 0.02%             | 2077-12-01      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                 | NextEra Energy Capital Holdings, Inc.                                                                                                      | CUSIP: 65339KBR0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     95000 | PA      | $87422.31     | 0.01%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                 | NextEra Energy Capital Holdings, Inc.                                                                                                      | CUSIP: 65339KBW9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    404000 | PA      | $384110.45    | 0.03%             | 2028-06-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                 | NextEra Energy Capital Holdings, Inc.                                                                                                      | CUSIP: 65339KCN8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30995.84     | 0.00%             | 2030-02-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NIKE, Inc.                                                            | NIKE, Inc.                                                                                                                                 | CUSIP: 654106AF0<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    220000 | PA      | $217174.21    | 0.02%             | 2026-11-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                                        | NiSource, Inc.                                                                                                                             | CUSIP: 65473PAP0<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51967.99     | 0.00%             | 2033-06-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                                        | NiSource, Inc.                                                                                                                             | CUSIP: 65473QBB8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    224000 | PA      | $216808.97    | 0.02%             | 2043-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                                 | Nomura Holdings, Inc.                                                                                                                      | CUSIP: 65535HBB4<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   1032000 | PA      | $986304.47    | 0.08%             | 2029-01-22      | Fixed         | 2.71%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp.                                                | Norfolk Southern Corp.                                                                                                                     | CUSIP: 655844BZ0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    231000 | PA      | $230170.67    | 0.02%             | 2028-08-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp.                                                | Norfolk Southern Corp.                                                                                                                     | CUSIP: 655844CF3<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     19000 | PA      | $12783.63     | 0.00%             | 2050-05-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp.                                                | Norfolk Southern Corp.                                                                                                                     | CUSIP: 655844CJ5<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    796000 | PA      | $566710.62    | 0.04%             | 2121-05-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp.                                                | Norfolk Southern Corp.                                                                                                                     | CUSIP: 655844CN6<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    379000 | PA      | $280596.17    | 0.02%             | 2053-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp.                                                | Norfolk Southern Corp.                                                                                                                     | CUSIP: 655844CR7<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103890.15    | 0.01%             | 2030-08-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Northern States Power Co.                                             | Northern States Power Co.                                                                                                                  | CUSIP: 665772CV9<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |    490000 | PA      | $424894.54    | 0.03%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Northern States Power Co.                                             | Northern States Power Co.                                                                                                                  | CUSIP: 665772CX5<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9466.56      | 0.00%             | 2053-05-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Northern States Power Co.                                             | Northern States Power Co.                                                                                                                  | CUSIP: 665772CY3<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14836.24     | 0.00%             | 2054-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp.                                                  | Northern Trust Corp.                                                                                                                       | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    360000 | PA      | $354205.98    | 0.03%             | 2032-05-08      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp.                                                  | Northern Trust Corp.                                                                                                                       | CUSIP: 665859AU8<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    109000 | PA      | $106312.25    | 0.01%             | 2029-05-03      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                                                | Northrop Grumman Corp.                                                                                                                     | CUSIP: 666807BP6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16375.87     | 0.00%             | 2047-10-15      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                                                | Northrop Grumman Corp.                                                                                                                     | CUSIP: 666807BS0<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30329.85     | 0.00%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                                                | Northrop Grumman Corp.                                                                                                                     | CUSIP: 666807CM2<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    121000 | PA      | $115566.94    | 0.01%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NSTAR Electric Co.                                                    | NSTAR Electric Co.                                                                                                                         | CUSIP: 67021CAP2<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14864.76     | 0.00%             | 2030-04-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NSTAR Electric Co.                                                    | NSTAR Electric Co.                                                                                                                         | CUSIP: 67021CAX5<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |    453000 | PA      | $465043.60    | 0.04%             | 2030-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Nucor Corp.                                                           | Nucor Corp.                                                                                                                                | CUSIP: 670346AQ8<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43387.09     | 0.00%             | 2048-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive, Inc.                                             | O'Reilly Automotive, Inc.                                                                                                                  | CUSIP: 67103HAH0<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    357000 | PA      | $353841.86    | 0.03%             | 2029-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                            | Occidental Petroleum Corp.                                                                                                                 | CUSIP: 674599EJ0<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    323000 | PA      | $330920.07    | 0.03%             | 2029-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Oesterreichische Kontrollbank AG                                      | Oesterreichische Kontrollbank AG                                                                                                           | CUSIP: 676167CM9<br>LEI: 5299000OVRLMF858L016 | Long             | DBT              | NUSS              | AT        |     18000 | PA      | $18279.58     | 0.00%             | 2027-05-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Oglethorpe Power Corp.                                                | Oglethorpe Power Corp.                                                                                                                     | CUSIP: 677052AA0<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |     72000 | PA      | $71866.15     | 0.01%             | 2040-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ohio Power Co.                                                        | Ohio Power Co., Series R                                                                                                                   | CUSIP: 677415CU3<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |     25000 | PA      | $15665.10     | 0.00%             | 2051-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Oklahoma Gas and Electric Co.                                         | Oklahoma Gas and Electric Co.                                                                                                              | CUSIP: 678858BR1<br>LEI: 549300VJ8YXGPO8EV472 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $827219.47    | 0.06%             | 2047-04-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Oklahoma Gas and Electric Co.                                         | Oklahoma Gas and Electric Co.                                                                                                              | CUSIP: 678858BX8<br>LEI: 549300VJ8YXGPO8EV472 | Long             | DBT              | CORP              | US        |    293000 | PA      | $308410.44    | 0.02%             | 2033-01-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Co. LLC                                       | Oncor Electric Delivery Co. LLC                                                                                                            | CUSIP: 68233JCF9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49164.66     | 0.00%             | 2032-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                           | ONEOK, Inc.                                                                                                                                | CUSIP: 682680AU7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151294.82    | 0.01%             | 2028-07-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                           | ONEOK, Inc.                                                                                                                                | CUSIP: 682680AY9<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    552000 | PA      | $533644.92    | 0.04%             | 2029-09-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                           | ONEOK, Inc.                                                                                                                                | CUSIP: 682680BN2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79348.30     | 0.01%             | 2053-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                           | ONEOK, Inc.                                                                                                                                | CUSIP: 682680CF8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26413.20     | 0.00%             | 2054-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ONEOK Partners LP                                                     | ONEOK Partners LP                                                                                                                          | CUSIP: 68268NAC7<br>LEI: T4DHW82NMF6BXJT50795 | Long             | DBT              | CORP              | US        |    117000 | PA      | $128342.12    | 0.01%             | 2036-10-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                                            | Province of Ontario                                                                                                                        | CUSIP: 683234AQ1<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |     47000 | PA      | $45238.51     | 0.00%             | 2027-05-21      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                                            | Province of Ontario                                                                                                                        | CUSIP: 683234AR9<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |     30000 | PA      | $26501.08     | 0.00%             | 2030-10-07      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                                            | Province of Ontario                                                                                                                        | CUSIP: 683234AW8<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |    400000 | PA      | $400023.25    | 0.03%             | 2029-09-17      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                                            | Province of Ontario                                                                                                                        | CUSIP: 683234DB1<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |    456000 | PA      | $452223.95    | 0.03%             | 2027-05-19      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                                            | Province of Ontario                                                                                                                        | CUSIP: 68323AFG4<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |    367000 | PA      | $344813.41    | 0.03%             | 2029-10-02      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                          | Oracle Corp.                                                                                                                               | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    971000 | PA      | $642595.31    | 0.05%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                          | Oracle Corp.                                                                                                                               | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1982000 | PA      | $1379907.41   | 0.11%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                          | Oracle Corp.                                                                                                                               | CUSIP: 68389XCV5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    219000 | PA      | $185217.59    | 0.01%             | 2064-09-27      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                          | Oracle Corp.                                                                                                                               | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1891680.38   | 0.14%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ORIX Corp.                                                            | ORIX Corp.                                                                                                                                 | CUSIP: 686330AJ0<br>LEI: 35380016EMHNBOVYE123 | Long             | DBT              | CORP              | JP        |     15000 | PA      | $14908.87     | 0.00%             | 2027-07-18      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ORIX Corp.                                                            | ORIX Corp.                                                                                                                                 | CUSIP: 686330AQ4<br>LEI: 35380016EMHNBOVYE123 | Long             | DBT              | CORP              | JP        |     20000 | PA      | $20332.36     | 0.00%             | 2027-09-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ovintiv, Inc.                                                         | Ovintiv, Inc.                                                                                                                              | CUSIP: 69047QAB8<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    278000 | PA      | $286330.68    | 0.02%             | 2028-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Ovintiv, Inc.                                                         | Ovintiv, Inc.                                                                                                                              | CUSIP: 69047QAC6<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29676.87     | 0.00%             | 2033-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                                         | Owens Corning                                                                                                                              | CUSIP: 690742AG6<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    158000 | PA      | $130134.17    | 0.01%             | 2047-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PECO Energy Co.                                                       | PECO Energy Co.                                                                                                                            | CUSIP: 693304BF3<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |    275000 | PA      | $283085.88    | 0.02%             | 2033-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PG&E Wildfire Recovery Funding LLC                                    | PG&E Wildfire Recovery Funding LLC, Series A-4                                                                                             | CUSIP: 693342AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $224388.44    | 0.02%             | 2047-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                              | PNC Financial Services Group, Inc. (The)                                                                                                   | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    340000 | PA      | $349052.79    | 0.03%             | 2034-01-24      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| PPL Electric Utilities Corp.                                          | PPL Electric Utilities Corp.                                                                                                               | CUSIP: 69351UAM5<br>LEI: 549300GCZLSGYEYPIR35 | Long             | DBT              | CORP              | US        |    132000 | PA      | $147061.42    | 0.01%             | 2039-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308HA8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     28000 | PA      | $21434.31     | 0.00%             | 2042-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308HW0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    123000 | PA      | $120852.34    | 0.01%             | 2027-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308JF5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    300000 | PA      | $289462.38    | 0.02%             | 2027-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308JG3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    731000 | PA      | $658059.76    | 0.05%             | 2031-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308JW8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    331000 | PA      | $320287.31    | 0.02%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308KH9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    205000 | PA      | $222219.02    | 0.02%             | 2053-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                          | Pacific Gas and Electric Co.                                                                                                               | CUSIP: 694308KR7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    354000 | PA      | $369263.28    | 0.03%             | 2034-05-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| PacifiCorp                                                            | PacifiCorp                                                                                                                                 | CUSIP: 695114CX4<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     17000 | PA      | $11005.06     | 0.00%             | 2051-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PacifiCorp                                                            | PacifiCorp                                                                                                                                 | CUSIP: 695114DB1<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    468000 | PA      | $477095.43    | 0.04%             | 2029-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                                                    | Republic of Panama                                                                                                                         | CUSIP: 698299BB9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    393000 | PA      | $290287.29    | 0.02%             | 2053-04-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                                                    | Republic of Panama                                                                                                                         | CUSIP: 698299BK9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $186240.61    | 0.01%             | 2030-01-23      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp.                                                 | Parker-Hannifin Corp.                                                                                                                      | CUSIP: 701094AR5<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |    422000 | PA      | $424891.28    | 0.03%             | 2027-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                                                 | PayPal Holdings, Inc.                                                                                                                      | CUSIP: 70450YAM5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    127000 | PA      | $118005.10    | 0.01%             | 2052-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PeaceHealth Obligated Group                                           | PeaceHealth Obligated Group, Series 2018                                                                                                   | CUSIP: 70462GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $43959.77     | 0.00%             | 2048-11-15      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                         | PepsiCo, Inc.                                                                                                                              | CUSIP: 713448DP0<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    380000 | PA      | $292623.05    | 0.02%             | 2046-10-06      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                         | PepsiCo, Inc.                                                                                                                              | CUSIP: 713448ES3<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    168000 | PA      | $159852.97    | 0.01%             | 2030-03-19      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                         | PepsiCo, Inc.                                                                                                                              | CUSIP: 713448EZ7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     66000 | PA      | $59885.08     | 0.00%             | 2030-05-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Republic of Peru                                                      | Republic of Peru                                                                                                                           | CUSIP: 715638DQ2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    521000 | PA      | $293010.87    | 0.02%             | 2060-12-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Republic of Peru                                                      | Republic of Peru                                                                                                                           | CUSIP: 715638DR0<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    474000 | PA      | $267319.70    | 0.02%             | 2121-07-28      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte. Ltd.                               | Pfizer Investment Enterprises Pte. Ltd.                                                                                                    | CUSIP: 716973AE2<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |     75000 | PA      | $76491.33     | 0.01%             | 2033-05-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                          | Pfizer, Inc.                                                                                                                               | CUSIP: 717081EC3<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    308000 | PA      | $291793.18    | 0.02%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                          | Pfizer, Inc.                                                                                                                               | CUSIP: 717081EP4<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    491000 | PA      | $490237.11    | 0.04%             | 2028-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                          | Pfizer, Inc.                                                                                                                               | CUSIP: 717081ET6<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   1181000 | PA      | $1168097.39   | 0.09%             | 2029-03-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| PG&E Energy Recovery Funding LLC                                      | PG&E Energy Recovery Funding LLC, Series A-1                                                                                               | CUSIP: 71710TAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    309893 | PA      | $288595.68    | 0.02%             | 2031-07-15      | Fixed         | 1.46%                 | No            |                  2 | On Loan: No      |
| Pharmacia LLC                                                         | Pharmacia LLC                                                                                                                              | CUSIP: 71713UAW2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $376179.63    | 0.03%             | 2028-12-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                     | Philip Morris International, Inc.                                                                                                          | CUSIP: 718172AU3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $208603.90    | 0.02%             | 2042-08-21      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                     | Philip Morris International, Inc.                                                                                                          | CUSIP: 718172BD0<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    111000 | PA      | $103810.29    | 0.01%             | 2043-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                     | Philip Morris International, Inc.                                                                                                          | CUSIP: 718172CJ6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    283000 | PA      | $276075.04    | 0.02%             | 2029-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                     | Philip Morris International, Inc.                                                                                                          | CUSIP: 718172DQ9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23293.06     | 0.00%             | 2034-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                           | Republic of Philippines                                                                                                                    | CUSIP: 718286AY3<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    225000 | PA      | $270564.23    | 0.02%             | 2030-02-02      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                           | Republic of Philippines                                                                                                                    | CUSIP: 718286CH8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    425000 | PA      | $302114.76    | 0.02%             | 2045-05-05      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                           | Republic of Philippines                                                                                                                    | CUSIP: 718286CL9<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    692000 | PA      | $463788.04    | 0.04%             | 2045-12-10      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                           | Republic of Philippines                                                                                                                    | CUSIP: 718286CV7<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     90000 | PA      | $91847.15     | 0.01%             | 2027-10-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                           | Republic of Philippines                                                                                                                    | CUSIP: 718286CW5<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    493000 | PA      | $506176.49    | 0.04%             | 2033-07-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                           | Republic of Philippines                                                                                                                    | CUSIP: 718286DC8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1030000 | PA      | $1034425.43   | 0.08%             | 2035-03-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Phillips Edison Grocery Center Operating Partnership I LP             | Phillips Edison Grocery Center Operating Partnership I LP                                                                                  | CUSIP: 71845JAA6<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              | CORP              | US        |    190000 | PA      | $170823.45    | 0.01%             | 2031-11-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                                           | Phillips 66                                                                                                                                | CUSIP: 718546AL8<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |     88000 | PA      | $78206.72     | 0.01%             | 2044-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                                           | Phillips 66                                                                                                                                | CUSIP: 718546AW4<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |    269000 | PA      | $241671.62    | 0.02%             | 2030-12-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Phillips 66 Co.                                                       | Phillips 66 Co.                                                                                                                            | CUSIP: 718547AH5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    499000 | PA      | $495682.11    | 0.04%             | 2028-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Phillips 66 Co.                                                       | Phillips 66 Co.                                                                                                                            | CUSIP: 718547AW2<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28651.31     | 0.00%             | 2054-06-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Piedmont Natural Gas Co., Inc.                                        | Piedmont Natural Gas Co., Inc.                                                                                                             | CUSIP: 720186AR6<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |    249000 | PA      | $254807.96    | 0.02%             | 2035-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                                  | Porsche Innovative Lease Owner Trust, Series 2025-1A, Class A4                                                                             | CUSIP: 73329KAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $660305.33    | 0.05%             | 2030-11-20      | Fixed         | 4.69%                 | Yes           |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                               | Port Authority of New York and New Jersey, Consolidated, Series 192                                                                        | CUSIP: 73358WXQ2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    120000 | PA      | $109630.94    | 0.01%             | 2065-10-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Potomac Electric Power Co.                                            | Potomac Electric Power Co.                                                                                                                 | CUSIP: 737679DE7<br>LEI: 549300BXF2DWUNN57U06 | Long             | DBT              | CORP              | US        |    200000 | PA      | $171613.79    | 0.01%             | 2043-03-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Precision Castparts Corp.                                             | Precision Castparts Corp.                                                                                                                  | CUSIP: 740189AP0<br>LEI: 0XOOAY5P5J7Q734SEC89 | Long             | DBT              | CORP              | US        |     33000 | PA      | $29432.35     | 0.00%             | 2045-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                            | Procter & Gamble Co. (The)                                                                                                                 | CUSIP: 742718FW4<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    235000 | PA      | $215739.43    | 0.02%             | 2032-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                            | Procter & Gamble Co. (The)                                                                                                                 | CUSIP: 742718FZ7<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    617000 | PA      | $621119.54    | 0.05%             | 2028-01-26      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                            | Procter & Gamble Co. (The)                                                                                                                 | CUSIP: 742718GF0<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |     63000 | PA      | $64254.60     | 0.00%             | 2029-01-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Progressive Corp. (The)                                               | Progressive Corp. (The)                                                                                                                    | CUSIP: 743315AV5<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |     44000 | PA      | $44114.07     | 0.00%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Prologis LP                                                           | Prologis LP                                                                                                                                | CUSIP: 74340XBL4<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18176.08     | 0.00%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Prologis LP                                                           | Prologis LP                                                                                                                                | CUSIP: 74340XBZ3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |    291000 | PA      | $262069.84    | 0.02%             | 2030-07-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Prologis LP                                                           | Prologis LP                                                                                                                                | CUSIP: 74340XCJ8<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |    145000 | PA      | $148436.51    | 0.01%             | 2034-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Providence St Joseph Health Obligated Group                           | Providence St Joseph Health Obligated Group                                                                                                | CUSIP: 743820AC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $192222.96    | 0.01%             | 2033-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                            | Prudential Financial, Inc.                                                                                                                 | CUSIP: 744320AY8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16014.46     | 0.00%             | 2047-12-07      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                            | Prudential Financial, Inc.                                                                                                                 | CUSIP: 744320BA9<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    770000 | PA      | $608288.46    | 0.05%             | 2049-12-07      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                            | Prudential Financial, Inc.                                                                                                                 | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33685.03     | 0.00%             | 2054-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                            | Prudential Financial, Inc.                                                                                                                 | CUSIP: 74432QCA1<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     31000 | PA      | $27840.03     | 0.00%             | 2044-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Public Service Co. of Colorado                                        | Public Service Co. of Colorado, Series 34                                                                                                  | CUSIP: 744448CS8<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |    454000 | PA      | $314232.52    | 0.02%             | 2050-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Public Service Co. of Colorado                                        | Public Service Co. of Colorado                                                                                                             | CUSIP: 744448CY5<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |    116000 | PA      | $109494.36    | 0.01%             | 2053-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Service Electric and Gas Co.                                   | Public Service Electric and Gas Co.                                                                                                        | CUSIP: 74456QCE4<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $276021.80    | 0.02%             | 2050-08-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                                 | Public Service Enterprise Group, Inc.                                                                                                      | CUSIP: 744573AQ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13290.94     | 0.00%             | 2030-08-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Public Storage Operating Co.                                          | Public Storage Operating Co.                                                                                                               | CUSIP: 74460WAG2<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |    152000 | PA      | $158529.04    | 0.01%             | 2033-08-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Puget Sound Energy, Inc.                                              | Puget Sound Energy, Inc.                                                                                                                   | CUSIP: 745332CB0<br>LEI: 8MNFJR7KOMBQ7X62LK44 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58727.54     | 0.00%             | 2040-03-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| QUALCOMM, Inc.                                                        | QUALCOMM, Inc.                                                                                                                             | CUSIP: 747525AJ2<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48491.83     | 0.00%             | 2035-05-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| QUALCOMM, Inc.                                                        | QUALCOMM, Inc.                                                                                                                             | CUSIP: 747525BP7<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    361000 | PA      | $309638.02    | 0.02%             | 2032-05-20      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Province of Quebec Canada                                             | Province of Quebec                                                                                                                         | CUSIP: 748149AN1<br>LEI: 549300WN65YFEQH74Y36 | Long             | DBT              | NUSS              | CA        |    262000 | PA      | $258662.78    | 0.02%             | 2027-04-12      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Quest Diagnostics, Inc.                                               | Quest Diagnostics, Inc.                                                                                                                    | CUSIP: 74834LBB5<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |     37000 | PA      | $35086.42     | 0.00%             | 2030-06-30      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| RELX Capital, Inc.                                                    | RELX Capital, Inc.                                                                                                                         | CUSIP: 74949LAD4<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    152000 | PA      | $144610.54    | 0.01%             | 2030-05-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RELX Capital, Inc.                                                    | RELX Capital, Inc.                                                                                                                         | CUSIP: 74949LAE2<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |     97000 | PA      | $99102.60     | 0.01%             | 2032-05-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                                         | Raymond James Financial, Inc.                                                                                                              | CUSIP: 754730AF6<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |    225000 | PA      | $207789.63    | 0.02%             | 2046-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                                         | Raymond James Financial, Inc.                                                                                                              | CUSIP: 754730AH2<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |    181000 | PA      | $135722.21    | 0.01%             | 2051-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                             | RTX Corp.                                                                                                                                  | CUSIP: 75513EBY6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52613.00     | 0.00%             | 2027-08-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                             | RTX Corp.                                                                                                                                  | CUSIP: 75513ECL3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     15000 | PA      | $9549.31      | 0.00%             | 2051-09-01      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                             | RTX Corp.                                                                                                                                  | CUSIP: 75513ECP4<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    796000 | PA      | $528167.19    | 0.04%             | 2052-03-15      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                             | RTX Corp.                                                                                                                                  | CUSIP: 75513ECQ2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12015.44     | 0.00%             | 2026-02-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                                   | Realty Income Corp.                                                                                                                        | CUSIP: 756109AX2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    268000 | PA      | $255401.66    | 0.02%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                                   | Realty Income Corp.                                                                                                                        | CUSIP: 756109CC6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36015.14     | 0.00%             | 2030-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                   | Regal Rexnord Corp.                                                                                                                        | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51743.48     | 0.00%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.                                       | Regeneron Pharmaceuticals, Inc.                                                                                                            | CUSIP: 75886FAF4<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |     11000 | PA      | $6904.71      | 0.00%             | 2050-09-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp.                                               | Regions Financial Corp.                                                                                                                    | CUSIP: 7591EPAT7<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    750000 | PA      | $706329.37    | 0.05%             | 2028-08-12      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Reinsurance Group of America, Inc.                                    | Reinsurance Group of America, Inc.                                                                                                         | CUSIP: 759351AT6<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    124000 | PA      | $127602.75    | 0.01%             | 2055-09-15      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| RenaissanceRe Holdings Ltd.                                           | RenaissanceRe Holdings Ltd.                                                                                                                | CUSIP: 75968NAD3<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |    305000 | PA      | $298904.56    | 0.02%             | 2029-04-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                                               | Republic Services, Inc.                                                                                                                    | CUSIP: 760759BA7<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   1256000 | PA      | $1102908.24   | 0.08%             | 2033-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                                          | Oriental Republic of Uruguay                                                                                                               | CUSIP: 760942BB7<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    254000 | PA      | $254574.95    | 0.02%             | 2027-10-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                                          | Oriental Republic of Uruguay                                                                                                               | CUSIP: 760942BG6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    750000 | PA      | $713259.33    | 0.05%             | 2060-09-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                             | Rio Tinto Finance USA plc                                                                                                                  | CUSIP: 76720AAD8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    254000 | PA      | $240170.67    | 0.02%             | 2042-03-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                             | Rio Tinto Finance USA plc                                                                                                                  | CUSIP: 76720AAN6<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     18000 | PA      | $18589.56     | 0.00%             | 2033-03-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Roper Technologies, Inc.                                              | Roper Technologies, Inc.                                                                                                                   | CUSIP: 776743AN6<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    407000 | PA      | $388748.80    | 0.03%             | 2027-09-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                  | Royal Bank of Canada                                                                                                                       | CUSIP: 78016EZD2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    323000 | PA      | $322045.97    | 0.02%             | 2027-05-04      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                  | Royal Bank of Canada                                                                                                                       | CUSIP: 78016EZZ3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    473000 | PA      | $462449.21    | 0.04%             | 2026-11-02      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                  | Royal Bank of Canada                                                                                                                       | CUSIP: 78016FZQ0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    145000 | PA      | $141314.47    | 0.01%             | 2032-05-04      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                  | Royal Bank of Canada                                                                                                                       | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $123881.46    | 0.01%             | 2031-02-04      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                          | Royal Caribbean Cruises Ltd.                                                                                                               | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    220000 | PA      | $222378.41    | 0.02%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Royalty Pharma plc                                                    | Royalty Pharma plc                                                                                                                         | CUSIP: 78081BAJ2<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    383000 | PA      | $367790.42    | 0.03%             | 2027-09-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Ryder System, Inc.                                                    | Ryder System, Inc.                                                                                                                         | CUSIP: 78355HKX6<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     69000 | PA      | $73176.78     | 0.01%             | 2028-12-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| SCE Recovery Funding LLC                                              | SCE Recovery Funding LLC, Series A-2                                                                                                       | CUSIP: 78433LAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    266000 | PA      | $226612.44    | 0.02%             | 2042-11-15      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Lease Trust                                                 | SBNA Auto Lease Trust, Series 2025-A, Class A4                                                                                             | CUSIP: 78437KAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    670000 | PA      | $676650.14    | 0.05%             | 2029-07-20      | Fixed         | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Sabine Pass Liquefaction LLC                                          | Sabine Pass Liquefaction LLC                                                                                                               | CUSIP: 785592AU0<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    164000 | PA      | $164309.58    | 0.01%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Sabra Health Care LP                                                  | Sabra Health Care LP                                                                                                                       | CUSIP: 78574MAA1<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              | CORP              | US        |    155000 | PA      | $141837.89    | 0.01%             | 2031-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Salesforce, Inc.                                                      | Salesforce, Inc.                                                                                                                           | CUSIP: 79466LAJ3<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |   2237000 | PA      | $1999126.63   | 0.15%             | 2031-07-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                        | Sales Tax Securitization Corp., Series 2019A                                                                                               | CUSIP: 79467BCM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $54235.42     | 0.00%             | 2040-01-01      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| San Diego Gas & Electric Co.                                          | San Diego Gas & Electric Co.                                                                                                               | CUSIP: 797440BM5<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |     45000 | PA      | $41534.91     | 0.00%             | 2040-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| San Diego Gas & Electric Co.                                          | San Diego Gas & Electric Co., Series XXX                                                                                                   | CUSIP: 797440CB8<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |    240000 | PA      | $220683.19    | 0.02%             | 2032-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Diego Gas & Electric Co.                                          | San Diego Gas & Electric Co.                                                                                                               | CUSIP: 797440CC6<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $36686.39     | 0.00%             | 2052-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                      | Sands China Ltd.                                                                                                                           | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1090000 | PA      | $1028214.98   | 0.08%             | 2029-03-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                       | Santander UK Group Holdings plc                                                                                                            | CUSIP: 80281LAG0<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198430.41    | 0.02%             | 2028-11-03      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                                          | Santander Holdings USA, Inc.                                                                                                               | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    988000 | PA      | $1029746.64   | 0.08%             | 2029-03-09      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                            | Charles Schwab Corp. (The)                                                                                                                 | CUSIP: 808513BP9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    131000 | PA      | $125812.98    | 0.01%             | 2028-03-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                | Sempra                                                                                                                                     | CUSIP: 816851BH1<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    701000 | PA      | $606565.06    | 0.05%             | 2038-02-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                | Sempra                                                                                                                                     | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8772.79      | 0.00%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                | Sempra                                                                                                                                     | CUSIP: 816851BR9<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31493.72     | 0.00%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                | Sempra                                                                                                                                     | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     78000 | PA      | $79473.33     | 0.01%             | 2054-10-01      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                | Sempra                                                                                                                                     | CUSIP: 816851BV0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    156000 | PA      | $157979.15    | 0.01%             | 2055-04-01      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Shell International Finance BV                                        | Shell International Finance BV                                                                                                             | CUSIP: 822582AD4<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    866000 | PA      | $968592.36    | 0.07%             | 2038-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Shell International Finance BV                                        | Shell International Finance BV                                                                                                             | CUSIP: 822582CL4<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |   1093000 | PA      | $726482.22    | 0.06%             | 2051-11-26      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Shell Finance US, Inc.                                                | Shell Finance US, Inc.                                                                                                                     | CUSIP: 822905AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    347000 | PA      | $327454.57    | 0.03%             | 2029-11-07      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                            | Sherwin-Williams Co. (The)                                                                                                                 | CUSIP: 824348AQ9<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    149000 | PA      | $124452.97    | 0.01%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                            | Sherwin-Williams Co. (The)                                                                                                                 | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    548000 | PA      | $475523.38    | 0.04%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                               | Simon Property Group LP                                                                                                                    | CUSIP: 828807DC8<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    259000 | PA      | $257072.31    | 0.02%             | 2027-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Snap-on, Inc.                                                         | Snap-on, Inc.                                                                                                                              | CUSIP: 833034AM3<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | DBT              | CORP              | US        |    216000 | PA      | $150287.09    | 0.01%             | 2050-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Dominion Energy South Carolina, Inc.                                  | Dominion Energy South Carolina, Inc.                                                                                                       | CUSIP: 837004CJ7<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | DBT              | CORP              | US        |    946000 | PA      | $861573.18    | 0.07%             | 2065-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co.                                                                                                             | CUSIP: 842400EB5<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52713.22     | 0.00%             | 2029-04-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co.                                                                                                             | CUSIP: 842400ES8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52738.40     | 0.00%             | 2034-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co., Series 05-E                                                                                                | CUSIP: 842400FA6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101189.05    | 0.01%             | 2035-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co.                                                                                                             | CUSIP: 842400GG2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     33000 | PA      | $25340.86     | 0.00%             | 2047-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co., Series 20A                                                                                                 | CUSIP: 842400GY3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $62251.92     | 0.00%             | 2051-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co., Series H                                                                                                   | CUSIP: 842400HF3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $70208.14     | 0.01%             | 2051-06-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co., Series E                                                                                                   | CUSIP: 842400HR7<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     69000 | PA      | $63374.94     | 0.00%             | 2052-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                        | Southern California Edison Co.                                                                                                             | CUSIP: 842400HU0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203943.45    | 0.02%             | 2028-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Southern California Gas Co.                                           | Southern California Gas Co., Series UU                                                                                                     | CUSIP: 842434CR1<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |     95000 | PA      | $77230.94     | 0.01%             | 2048-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Southern California Gas Co.                                           | Southern California Gas Co., Series VV                                                                                                     | CUSIP: 842434CS9<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    324000 | PA      | $270495.21    | 0.02%             | 2049-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                    | Southern Co. (The), Series A                                                                                                               | CUSIP: 842587DE4<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    417000 | PA      | $408100.89    | 0.03%             | 2030-04-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                    | Southern Co. (The)                                                                                                                         | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31935.43     | 0.00%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                                        | Southern Co. Gas Capital Corp.                                                                                                             | CUSIP: 8426EPAF5<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    928000 | PA      | $957140.68    | 0.07%             | 2032-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                                        | Southern Co. Gas Capital Corp.                                                                                                             | CUSIP: 8426EPAH1<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131033.00    | 0.01%             | 2034-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                                                | Southwest Airlines Co.                                                                                                                     | CUSIP: 844741BK3<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    103000 | PA      | $104118.56    | 0.01%             | 2027-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Southwestern Electric Power Co.                                       | Southwestern Electric Power Co., Series K                                                                                                  | CUSIP: 845437BP6<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9890.38      | 0.00%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                       | Starbucks Corp.                                                                                                                            | CUSIP: 855244AV1<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |     62000 | PA      | $60447.40     | 0.00%             | 2027-03-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                       | Starbucks Corp.                                                                                                                            | CUSIP: 855244AZ2<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |     84000 | PA      | $77760.06     | 0.01%             | 2030-11-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                       | Starbucks Corp.                                                                                                                            | CUSIP: 855244BC2<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    843000 | PA      | $779908.81    | 0.06%             | 2032-02-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Republic of Poland                                                    | Republic of Poland                                                                                                                         | CUSIP: 857524AE2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     18000 | PA      | $19379.51     | 0.00%             | 2032-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of Poland                                                    | Republic of Poland                                                                                                                         | CUSIP: 857524AH5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    193000 | PA      | $201539.84    | 0.02%             | 2035-02-12      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Stifel Financial Corp.                                                | Stifel Financial Corp.                                                                                                                     | CUSIP: 860630AG7<br>LEI: 549300E5F07FE5GHJX84 | Long             | DBT              | CORP              | US        |    885000 | PA      | $867973.91    | 0.07%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sun Communities Operating LP                                          | Sun Communities Operating LP                                                                                                               | CUSIP: 866677AE7<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              | CORP              | US        |    398000 | PA      | $363289.84    | 0.03%             | 2031-07-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Sun Communities Operating LP                                          | Sun Communities Operating LP                                                                                                               | CUSIP: 866677AH0<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29319.82     | 0.00%             | 2032-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 86765BAQ2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    296000 | PA      | $271491.32    | 0.02%             | 2045-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                    | Energy Transfer LP                                                                                                                         | CUSIP: 86765BAV1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     26000 | PA      | $23666.32     | 0.00%             | 2047-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Suzano Austria GmbH                                                   | Suzano Austria GmbH                                                                                                                        | CUSIP: 86964WAF9<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    364000 | PA      | $374937.11    | 0.03%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Svensk Exportkredit AB                                                | Svensk Exportkredit AB                                                                                                                     | CUSIP: 87031CAE3<br>LEI: 1FOLRR5RWTWWI397R131 | Long             | DBT              | NUSS              | SE        |    214000 | PA      | $209999.75    | 0.02%             | 2027-03-22      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Svensk Exportkredit AB                                                | Svensk Exportkredit AB                                                                                                                     | CUSIP: 87031CAL7<br>LEI: 1FOLRR5RWTWWI397R131 | Long             | DBT              | NUSS              | SE        |    809000 | PA      | $818900.77    | 0.06%             | 2028-06-14      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Svensk Exportkredit AB                                                | Svensk Exportkredit AB                                                                                                                     | CUSIP: 87031CAN3<br>LEI: 1FOLRR5RWTWWI397R131 | Long             | DBT              | NUSS              | SE        |    362000 | PA      | $380013.95    | 0.03%             | 2030-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TD SYNNEX Corp.                                                       | TD SYNNEX Corp.                                                                                                                            | CUSIP: 87162WAK6<br>LEI: 5493004HI6PFLF46NS53 | Long             | DBT              | CORP              | US        |    441000 | PA      | $397018.72    | 0.03%             | 2031-08-09      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| TD SYNNEX Corp.                                                       | TD SYNNEX Corp.                                                                                                                            | CUSIP: 87162WAN0<br>LEI: 5493004HI6PFLF46NS53 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1040642.90   | 0.08%             | 2035-10-10      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                                   | Synchrony Financial                                                                                                                        | CUSIP: 87165BAP8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35562.98     | 0.00%             | 2029-03-19      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                                   | Synchrony Financial                                                                                                                        | CUSIP: 87165BAR4<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    116000 | PA      | $103772.28    | 0.01%             | 2031-10-28      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Synchrony Bank                                                        | Synchrony Bank                                                                                                                             | CUSIP: 87166FAE3<br>LEI: 549300UATVPGSLE43Z27 | Long             | DBT              | CORP              | US        |    350000 | PA      | $357077.91    | 0.03%             | 2027-08-23      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TC PipeLines LP                                                       | TC PipeLines LP                                                                                                                            | CUSIP: 87233QAC2<br>LEI: 6HL0C5LCIE4TN8UZHL06 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19917.72     | 0.00%             | 2027-05-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                    | T-Mobile USA, Inc.                                                                                                                         | CUSIP: 87264AAX3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1583000 | PA      | $1440310.78   | 0.11%             | 2040-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                    | T-Mobile USA, Inc.                                                                                                                         | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $960237.76    | 0.07%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                    | T-Mobile USA, Inc.                                                                                                                         | CUSIP: 87264ABZ7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24844.37     | 0.00%             | 2026-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                    | T-Mobile USA, Inc.                                                                                                                         | CUSIP: 87264ACS2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    356000 | PA      | $337165.40    | 0.03%             | 2029-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                    | T-Mobile USA, Inc.                                                                                                                         | CUSIP: 87264ADX0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    790000 | PA      | $793786.62    | 0.06%             | 2035-11-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TR Finance LLC                                                        | TR Finance LLC                                                                                                                             | CUSIP: 87268LAA5<br>LEI: 254900OWSTRTOV8P5W25 | Long             | DBT              | CORP              | US        |    295000 | PA      | $293385.05    | 0.02%             | 2026-05-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| TSMC Arizona Corp.                                                    | TSMC Arizona Corp.                                                                                                                         | CUSIP: 872898AA9<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |    540000 | PA      | $529450.21    | 0.04%             | 2026-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                                        | Takeda Pharmaceutical Co. Ltd.                                                                                                             | CUSIP: 874060AX4<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $183116.90    | 0.01%             | 2030-03-31      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Tampa Electric Co.                                                    | Tampa Electric Co.                                                                                                                         | CUSIP: 875127BC5<br>LEI: WS423EPRKJIIJUITXD73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43149.86     | 0.00%             | 2044-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Target Corp.                                                          | Target Corp.                                                                                                                               | CUSIP: 87612EBN5<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |   1887000 | PA      | $1226165.40   | 0.09%             | 2052-01-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                               | Telefonica Emisiones SA                                                                                                                    | CUSIP: 87938WAC7<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |     29000 | PA      | $32722.77     | 0.00%             | 2036-06-20      | Fixed         | 7.04%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                               | Telefonica Emisiones SA                                                                                                                    | CUSIP: 87938WAT0<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    162000 | PA      | $161721.38    | 0.01%             | 2027-03-08      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                               | Telefonica Emisiones SA                                                                                                                    | CUSIP: 87938WAV5<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |   1702000 | PA      | $1568141.98   | 0.12%             | 2038-03-06      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                           | TELUS Corp.                                                                                                                                | CUSIP: 87971MBW2<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |   1047000 | PA      | $967626.88    | 0.07%             | 2032-05-13      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Tennessee Valley Authority                                            | Tennessee Valley Authority                                                                                                                 | CUSIP: 880591DV1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   1315000 | PA      | $1369143.07   | 0.10%             | 2033-07-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Tennessee Valley Authority                                            | Tennessee Valley Authority                                                                                                                 | CUSIP: 880591DZ2<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |     10000 | PA      | $10307.62     | 0.00%             | 2056-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Tennessee Valley Authority                                            | Tennessee Valley Authority                                                                                                                 | CUSIP: 880591FC1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    169000 | PA      | $171651.36    | 0.01%             | 2055-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tennessee Valley Authority                                            | Tennessee Valley Authority                                                                                                                 | CUSIP: 880591FD9<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    550000 | PA      | $575378.04    | 0.04%             | 2035-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Permanent University Fund - Texas A&M University System               | Permanent University Fund - Texas A&M University System, Series 2017B                                                                      | CUSIP: 8821175V2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $276148.64    | 0.02%             | 2047-07-01      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                               | Texas Instruments, Inc.                                                                                                                    | CUSIP: 882508BC7<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    532000 | PA      | $525199.01    | 0.04%             | 2027-11-03      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                               | Texas Instruments, Inc.                                                                                                                    | CUSIP: 882508BQ6<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    255000 | PA      | $208236.17    | 0.02%             | 2052-08-16      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp.              | Texas Private Activity Bond Surface Transportation Corp., North Tarrant Express Managed Lanes Project, Mobility Partners LLC, Series 2019B | CUSIP: 882667AZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $97002.08     | 0.01%             | 2049-12-31      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                        | State of Texas, Transportation Commission Mobility Fund, Series 2009A                                                                      | CUSIP: 882722KF7<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |    112477 | PA      | $117369.28    | 0.01%             | 2039-04-01      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                        | State of Texas, Transportation Commission Highway Improvement, Series 2010A                                                                | CUSIP: 882722VN8<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |     45000 | PA      | $44217.00     | 0.00%             | 2040-04-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Textron, Inc.                                                         | Textron, Inc.                                                                                                                              | CUSIP: 883203BX8<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    454000 | PA      | $451302.94    | 0.03%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                                        | Thermo Fisher Scientific, Inc.                                                                                                             | CUSIP: 883556CK6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |   1636000 | PA      | $1542060.04   | 0.12%             | 2028-10-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                                        | Thermo Fisher Scientific, Inc.                                                                                                             | CUSIP: 883556CY6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    138000 | PA      | $140512.16    | 0.01%             | 2043-08-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Thomas Jefferson University                                           | Thomas Jefferson University                                                                                                                | CUSIP: 88444NAS7<br>LEI: DB1TWPCZX5RK7VR27A68 | Long             | DBT              | CORP              | US        |    336000 | PA      | $241350.89    | 0.02%             | 2057-11-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| 3M Co.                                                                | 3M Co.                                                                                                                                     | CUSIP: 88579YAW1<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $997963.69    | 0.08%             | 2046-09-19      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| 3M Co.                                                                | 3M Co.                                                                                                                                     | CUSIP: 88579YBD2<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |     15000 | PA      | $12222.87     | 0.00%             | 2048-09-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 3M Co.                                                                | 3M Co.                                                                                                                                     | CUSIP: 88579YBJ9<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    141000 | PA      | $132859.21    | 0.01%             | 2029-08-26      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| 3M Co.                                                                | 3M Co.                                                                                                                                     | CUSIP: 88579YBK6<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |     45000 | PA      | $31582.32     | 0.00%             | 2049-08-26      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                                 | Time Warner Cable LLC                                                                                                                      | CUSIP: 88732JBD9<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    195000 | PA      | $151826.01    | 0.01%             | 2042-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                           | Toronto-Dominion Bank (The)                                                                                                                | CUSIP: 89114TZV7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     31000 | PA      | $28990.98     | 0.00%             | 2032-03-10      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                           | Toronto-Dominion Bank (The)                                                                                                                | CUSIP: 89115A2C5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    378000 | PA      | $378678.45    | 0.03%             | 2027-06-08      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                           | Toronto-Dominion Bank (The)                                                                                                                | CUSIP: 89116CQJ9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    104000 | PA      | $105661.25    | 0.01%             | 2034-09-10      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International SA                                | TotalEnergies Capital International SA                                                                                                     | CUSIP: 89153VAU3<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $36395.95     | 0.00%             | 2049-07-12      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International SA                                | TotalEnergies Capital International SA                                                                                                     | CUSIP: 89153VAW9<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $66630.19     | 0.01%             | 2060-06-29      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital SA                                              | TotalEnergies Capital SA                                                                                                                   | CUSIP: 89157XAD3<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |    107000 | PA      | $108635.73    | 0.01%             | 2034-09-10      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                                    | Toyota Motor Corp.                                                                                                                         | CUSIP: 892331AG4<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |    120000 | PA      | $115156.62    | 0.01%             | 2029-07-02      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                             | Toyota Motor Credit Corp.                                                                                                                  | CUSIP: 89236TEM3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    504000 | PA      | $495764.31    | 0.04%             | 2028-01-11      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                             | Toyota Motor Credit Corp.                                                                                                                  | CUSIP: 89236THG3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    852000 | PA      | $814739.11    | 0.06%             | 2027-08-13      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                             | Toyota Motor Credit Corp.                                                                                                                  | CUSIP: 89236TKU8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     52000 | PA      | $53059.75     | 0.00%             | 2030-05-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                             | Toyota Motor Credit Corp.                                                                                                                  | CUSIP: 89236TLD5<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81228.81     | 0.01%             | 2026-11-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TransCanada PipeLines Ltd.                                            | TransCanada PipeLines Ltd.                                                                                                                 | CUSIP: 89352HBG3<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    130000 | PA      | $133135.57    | 0.01%             | 2065-06-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Travelers Cos., Inc. (The)                                            | Travelers Cos., Inc. (The)                                                                                                                 | CUSIP: 89417EAP4<br>LEI: 549300Y650407RU8B149 | Long             | DBT              | CORP              | US        |    185000 | PA      | $152602.70    | 0.01%             | 2049-03-04      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Travelers Cos., Inc. (The)                                            | Travelers Cos., Inc. (The)                                                                                                                 | CUSIP: 89417EAR0<br>LEI: 549300Y650407RU8B149 | Long             | DBT              | CORP              | US        |     21000 | PA      | $14162.13     | 0.00%             | 2051-06-08      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Trimble, Inc.                                                         | Trimble, Inc.                                                                                                                              | CUSIP: 896239AE0<br>LEI: 549300E2MI7NSZFQWS19 | Long             | DBT              | CORP              | US        |    137000 | PA      | $147800.84    | 0.01%             | 2033-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                | Truist Financial Corp.                                                                                                                     | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95212.93     | 0.01%             | 2033-07-28      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| City of Tucson AZ                                                     | City of Tucson, Taxable, Series 2021A                                                                                                      | CUSIP: 898735UW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $623346.17    | 0.05%             | 2047-07-01      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| Tyco Electronics Group SA                                             | Tyco Electronics Group SA                                                                                                                  | CUSIP: 902133AU1<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |    635000 | PA      | $628156.33    | 0.05%             | 2027-08-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Tyson Foods, Inc.                                                     | Tyson Foods, Inc.                                                                                                                          | CUSIP: 902494AY9<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    191000 | PA      | $180560.61    | 0.01%             | 2044-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Tyson Foods, Inc.                                                     | Tyson Foods, Inc.                                                                                                                          | CUSIP: 902494AZ6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |   1518000 | PA      | $1521176.37   | 0.12%             | 2034-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Tyson Foods, Inc.                                                     | Tyson Foods, Inc.                                                                                                                          | CUSIP: 902494BK8<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155481.12    | 0.01%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| UDR, Inc.                                                             | UDR, Inc.                                                                                                                                  | CUSIP: 90265EAS9<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $904340.99    | 0.07%             | 2034-11-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                | UBS AG                                                                                                                                     | CUSIP: 902674ZZ6<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |    344000 | PA      | $339235.58    | 0.03%             | 2026-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                         | UBS Commercial Mortgage Trust, Series 2017-C2, Class A4                                                                                    | CUSIP: 90276CAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $692731.11    | 0.05%             | 2050-08-15      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                         | UBS Commercial Mortgage Trust, Series 2017-C4, Class ASB                                                                                   | CUSIP: 90276RBC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12684 | PA      | $12594.01     | 0.00%             | 2050-10-15      | Fixed         | 3.37%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                         | UBS Commercial Mortgage Trust, Series 2017-C5, Class AS                                                                                    | CUSIP: 90276TAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70000 | PA      | $67906.49     | 0.01%             | 2050-11-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                         | UBS Commercial Mortgage Trust, Series 2017-C7, Class AS                                                                                    | CUSIP: 90276WAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     50000 | PA      | $49114.06     | 0.00%             | 2050-12-15      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| UMass Memorial Health Care Obligated Group                            | UMass Memorial Health Care Obligated Group                                                                                                 | CUSIP: 90407JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    198000 | PA      | $188634.31    | 0.01%             | 2052-07-01      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Unilever Capital Corp.                                                | Unilever Capital Corp.                                                                                                                     | CUSIP: 904764AH0<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    322000 | PA      | $353600.48    | 0.03%             | 2032-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Unilever Capital Corp.                                                | Unilever Capital Corp.                                                                                                                     | CUSIP: 904764AY3<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    433000 | PA      | $428125.48    | 0.03%             | 2027-05-05      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Unilever Capital Corp.                                                | Unilever Capital Corp.                                                                                                                     | CUSIP: 904764BQ9<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    233000 | PA      | $206049.95    | 0.02%             | 2031-08-12      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Unilever Capital Corp.                                                | Unilever Capital Corp.                                                                                                                     | CUSIP: 904764BV8<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    126000 | PA      | $127637.60    | 0.01%             | 2034-08-12      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Union Electric Co.                                                    | Union Electric Co.                                                                                                                         | CUSIP: 906548CQ3<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    260000 | PA      | $182640.29    | 0.01%             | 2049-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Union Electric Co.                                                    | Union Electric Co.                                                                                                                         | CUSIP: 906548CZ3<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |     82000 | PA      | $76992.32     | 0.01%             | 2055-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                   | Union Pacific Corp.                                                                                                                        | CUSIP: 907818EB0<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    607000 | PA      | $551937.88    | 0.04%             | 2035-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                   | Union Pacific Corp.                                                                                                                        | CUSIP: 907818EK0<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    135000 | PA      | $100240.04    | 0.01%             | 2046-08-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                   | Union Pacific Corp.                                                                                                                        | CUSIP: 907818ER5<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    166000 | PA      | $126913.15    | 0.01%             | 2067-09-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                   | Union Pacific Corp.                                                                                                                        | CUSIP: 907818FG8<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    166000 | PA      | $122820.04    | 0.01%             | 2060-03-20      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                   | Union Pacific Corp.                                                                                                                        | CUSIP: 907818FQ6<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    909000 | PA      | $773278.04    | 0.06%             | 2036-04-06      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                   | Union Pacific Corp.                                                                                                                        | CUSIP: 907818FW3<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    447000 | PA      | $292085.52    | 0.02%             | 2052-03-10      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass-Through Trust                                    | United Airlines Pass-Through Trust, Series 2018-1, Class AA                                                                                | CUSIP: 909318AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37735 | PA      | $36396.72     | 0.00%             | 2030-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91086QAS7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     71000 | PA      | $77399.33     | 0.01%             | 2034-09-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91086QAV0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    260000 | PA      | $260215.35    | 0.02%             | 2040-01-11      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91086QBB3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     10000 | PA      | $8319.60      | 0.00%             | 2044-03-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91086QBF4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    400000 | PA      | $319454.75    | 0.02%             | 2046-01-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAH3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    723000 | PA      | $683787.20    | 0.05%             | 2030-04-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAL4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    300000 | PA      | $245086.39    | 0.02%             | 2051-04-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAM2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    598000 | PA      | $533740.19    | 0.04%             | 2031-05-24      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAQ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    752000 | PA      | $609114.42    | 0.05%             | 2041-08-14      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAR1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $173519.51    | 0.01%             | 2034-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    500000 | PA      | $526948.96    | 0.04%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAX8<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    338000 | PA      | $327777.98    | 0.03%             | 2053-05-04      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                 | United Mexican States                                                                                                                      | CUSIP: 91087BAY6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $203391.19    | 0.02%             | 2029-05-07      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                           | United Parcel Service, Inc.                                                                                                                | CUSIP: 911312AJ5<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    136000 | PA      | $151353.87    | 0.01%             | 2038-01-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                           | United Parcel Service, Inc.                                                                                                                | CUSIP: 911312AR7<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    589000 | PA      | $479610.97    | 0.04%             | 2042-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                           | United Parcel Service, Inc.                                                                                                                | CUSIP: 911312BS4<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    595000 | PA      | $429329.52    | 0.03%             | 2049-09-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                           | United Parcel Service, Inc.                                                                                                                | CUSIP: 911312BY1<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    310000 | PA      | $316268.23    | 0.02%             | 2030-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                           | United Parcel Service, Inc.                                                                                                                | CUSIP: 911312CF1<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98540.27     | 0.01%             | 2064-05-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810FJ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1913000 | PA      | $2077099.53   | 0.16%             | 2029-08-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810FP8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3169000 | PA      | $3422767.58   | 0.26%             | 2031-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810PU6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2705000 | PA      | $2930698.44   | 0.22%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810PW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1318000 | PA      | $1346831.25   | 0.10%             | 2038-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810PX0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2031000 | PA      | $2096372.81   | 0.16%             | 2038-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QB7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3410000 | PA      | $3390285.94   | 0.26%             | 2039-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1259000 | PA      | $1280245.63   | 0.10%             | 2039-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1111000 | PA      | $1112388.75   | 0.08%             | 2039-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2382000 | PA      | $2443783.13   | 0.19%             | 2040-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    846000 | PA      | $843885.00    | 0.06%             | 2040-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QU5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1436000 | PA      | $1204220.63   | 0.09%             | 2042-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    756000 | PA      | $620274.38    | 0.05%             | 2042-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810QZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    436000 | PA      | $359700.00    | 0.03%             | 2043-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810RB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    326000 | PA      | $258151.25    | 0.02%             | 2043-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810RC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    744000 | PA      | $655533.75    | 0.05%             | 2043-08-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810RD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    817000 | PA      | $730832.03    | 0.06%             | 2043-11-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810SF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1787000 | PA      | $1352535.63   | 0.10%             | 2049-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5903000 | PA      | $3905203.44   | 0.30%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810SU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7035000 | PA      | $4067109.38   | 0.31%             | 2051-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810SX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3983000 | PA      | $2593306.41   | 0.20%             | 2051-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5199000 | PA      | $3082844.53   | 0.24%             | 2051-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5374000 | PA      | $3371345.31   | 0.26%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4403000 | PA      | $3304313.91   | 0.25%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4402000 | PA      | $3175630.31   | 0.24%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3797000 | PA      | $2807406.88   | 0.21%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4864000 | PA      | $4192160.00   | 0.32%             | 2042-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7192000 | PA      | $6005320.00   | 0.46%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6043000 | PA      | $5548229.38   | 0.42%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6394000 | PA      | $5332995.63   | 0.41%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5028000 | PA      | $4606119.38   | 0.35%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6317000 | PA      | $5765249.53   | 0.44%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4598000 | PA      | $4484486.88   | 0.34%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1785000 | PA      | $1803128.91   | 0.14%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4502000 | PA      | $4594150.31   | 0.35%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5704000 | PA      | $5317197.50   | 0.41%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4422000 | PA      | $4370870.63   | 0.33%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1456000 | PA      | $1444852.50   | 0.11%             | 2054-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4341000 | PA      | $4353887.34   | 0.33%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    490000 | PA      | $456695.31    | 0.03%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4985000 | PA      | $4675774.22   | 0.36%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4289000 | PA      | $4169712.19   | 0.32%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4354000 | PA      | $4358762.19   | 0.33%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    125000 | PA      | $124062.50    | 0.01%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4321000 | PA      | $4392566.56   | 0.34%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1562000 | PA      | $1582257.19   | 0.12%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    524000 | PA      | $549790.63    | 0.04%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    198000 | PA      | $200660.63    | 0.02%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Bonds                                                                                                                        | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4835000 | PA      | $4989871.09   | 0.38%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128282R0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3011000 | PA      | $2947369.10   | 0.23%             | 2027-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128283F5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5538000 | PA      | $5406688.83   | 0.41%             | 2027-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128283W8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1633000 | PA      | $1607356.80   | 0.12%             | 2028-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128284N7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4155000 | PA      | $4094947.27   | 0.31%             | 2028-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128284V9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4074000 | PA      | $4009707.19   | 0.31%             | 2028-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128285M8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1921000 | PA      | $1901039.61   | 0.15%             | 2028-11-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1368000 | PA      | $1331341.88   | 0.10%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828U24<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3808000 | PA      | $3748648.75   | 0.29%             | 2026-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828V98<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4606000 | PA      | $4533311.56   | 0.35%             | 2027-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828X88<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1048000 | PA      | $1030560.63   | 0.08%             | 2027-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828YQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2543000 | PA      | $2496610.12   | 0.19%             | 2026-10-31      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828YU8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2151000 | PA      | $2108652.19   | 0.16%             | 2026-11-30      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828YX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4330000 | PA      | $4243907.42   | 0.32%             | 2026-12-31      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828Z78<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4082000 | PA      | $3984095.78   | 0.30%             | 2027-01-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828ZB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4518000 | PA      | $4383165.94   | 0.33%             | 2027-02-28      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828ZN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4989000 | PA      | $4779890.74   | 0.36%             | 2027-04-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828ZS2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4263000 | PA      | $4074661.99   | 0.31%             | 2027-05-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 912828ZV5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    393000 | PA      | $374808.40    | 0.03%             | 2027-06-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CAH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5101000 | PA      | $4841167.81   | 0.37%             | 2027-08-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CAL5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7093000 | PA      | $6700945.51   | 0.51%             | 2027-09-30      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CAU5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2455000 | PA      | $2319111.91   | 0.18%             | 2027-10-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CBB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4600000 | PA      | $4336578.13   | 0.33%             | 2027-12-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CBJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6590000 | PA      | $6216223.44   | 0.47%             | 2028-01-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CBP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6589000 | PA      | $6254917.11   | 0.48%             | 2028-02-29      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CBS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3960000 | PA      | $3763546.88   | 0.29%             | 2028-03-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CBZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2311000 | PA      | $2192019.61   | 0.17%             | 2028-04-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CCE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2519000 | PA      | $2384981.33   | 0.18%             | 2028-05-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CCR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    934000 | PA      | $875187.19    | 0.07%             | 2028-07-31      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CCS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8848000 | PA      | $7748221.25   | 0.59%             | 2031-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CCV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6076000 | PA      | $5701946.25   | 0.44%             | 2028-08-31      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CCY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    396000 | PA      | $372240.00    | 0.03%             | 2028-09-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7030000 | PA      | $6160586.72   | 0.47%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CDK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6343000 | PA      | $6194831.48   | 0.47%             | 2026-11-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CDQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4166000 | PA      | $4061524.53   | 0.31%             | 2026-12-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3173000 | PA      | $2849006.95   | 0.22%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CEE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    531000 | PA      | $512000.16    | 0.04%             | 2029-03-31      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CEM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    512000 | PA      | $501360.00    | 0.04%             | 2029-04-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CEP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5324000 | PA      | $5059463.75   | 0.39%             | 2032-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CES6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4576000 | PA      | $4460170.00   | 0.34%             | 2029-05-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CEV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3009000 | PA      | $2980085.39   | 0.23%             | 2029-06-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4182000 | PA      | $4128744.84   | 0.32%             | 2027-07-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4770000 | PA      | $4621682.81   | 0.35%             | 2029-07-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11334000 | PA      | $10652189.06  | 0.81%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2496000 | PA      | $2478742.50   | 0.19%             | 2027-08-31      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4866000 | PA      | $4922263.13   | 0.38%             | 2029-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFY2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4212000 | PA      | $4261359.38   | 0.33%             | 2029-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CFZ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1794000 | PA      | $1806684.14   | 0.14%             | 2027-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3966000 | PA      | $4013096.25   | 0.31%             | 2029-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGC9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1252000 | PA      | $1261390.00   | 0.10%             | 2027-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    219000 | PA      | $219000.00    | 0.02%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4455000 | PA      | $4443862.50   | 0.34%             | 2030-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6866000 | PA      | $6734044.06   | 0.51%             | 2033-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4309000 | PA      | $4355793.05   | 0.33%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4153000 | PA      | $4223081.88   | 0.32%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGS4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3907000 | PA      | $3914630.86   | 0.30%             | 2030-03-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CGZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6073000 | PA      | $6053072.97   | 0.46%             | 2030-04-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHA2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4554000 | PA      | $4555067.34   | 0.35%             | 2028-04-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHC8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7046000 | PA      | $6841225.63   | 0.52%             | 2033-05-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5954000 | PA      | $5973536.56   | 0.46%             | 2028-05-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3599000 | PA      | $3623461.95   | 0.28%             | 2030-05-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHJ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1259000 | PA      | $1267655.63   | 0.10%             | 2030-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHK0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1254000 | PA      | $1269870.94   | 0.10%             | 2028-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4468000 | PA      | $4539557.81   | 0.35%             | 2028-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1877000 | PA      | $1909700.86   | 0.15%             | 2030-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5858000 | PA      | $5870814.38   | 0.45%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHW4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3532000 | PA      | $3612021.88   | 0.28%             | 2030-08-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    431000 | PA      | $440832.19    | 0.03%             | 2028-08-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CHZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2469000 | PA      | $2579719.22   | 0.20%             | 2030-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2759000 | PA      | $2842847.73   | 0.22%             | 2028-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJC6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    440000 | PA      | $443506.25    | 0.03%             | 2026-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3617000 | PA      | $3821869.14   | 0.29%             | 2030-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6938000 | PA      | $7242621.56   | 0.55%             | 2033-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6073000 | PA      | $6127799.34   | 0.47%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJM4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3044000 | PA      | $3148875.31   | 0.24%             | 2030-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJN2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6006000 | PA      | $6154273.13   | 0.47%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJQ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5059000 | PA      | $5089037.81   | 0.39%             | 2030-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJR3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6662000 | PA      | $6711444.53   | 0.51%             | 2028-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5995000 | PA      | $6081646.48   | 0.46%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJX0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2460000 | PA      | $2502665.63   | 0.19%             | 2031-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5338000 | PA      | $5382205.31   | 0.41%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6434000 | PA      | $6473961.17   | 0.49%             | 2027-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2192000 | PA      | $2256218.75   | 0.17%             | 2031-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2093000 | PA      | $2139765.47   | 0.16%             | 2029-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2755000 | PA      | $2819355.08   | 0.22%             | 2031-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5413000 | PA      | $5515339.53   | 0.42%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1922000 | PA      | $1945499.45   | 0.15%             | 2027-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5828000 | PA      | $6106651.25   | 0.47%             | 2031-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5528000 | PA      | $5722775.63   | 0.44%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4195000 | PA      | $4339203.13   | 0.33%             | 2034-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4798000 | PA      | $4861723.44   | 0.37%             | 2027-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5389000 | PA      | $5560774.38   | 0.42%             | 2029-05-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKU4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    820000 | PA      | $859270.31    | 0.07%             | 2031-05-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2478000 | PA      | $2537626.88   | 0.19%             | 2029-06-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CKZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    346000 | PA      | $350514.22    | 0.03%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5531000 | PA      | $5617853.98   | 0.43%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1197000 | PA      | $1224680.63   | 0.09%             | 2031-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1552000 | PA      | $1557516.88   | 0.12%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6021000 | PA      | $6043108.36   | 0.46%             | 2031-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5577000 | PA      | $5592685.31   | 0.43%             | 2029-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3701000 | PA      | $3691602.93   | 0.28%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8522000 | PA      | $8495368.75   | 0.65%             | 2031-09-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5729000 | PA      | $5719600.86   | 0.44%             | 2029-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5109000 | PA      | $5141729.53   | 0.39%             | 2027-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2502000 | PA      | $2553799.22   | 0.19%             | 2029-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3777000 | PA      | $3862572.66   | 0.29%             | 2031-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1334000 | PA      | $1364431.88   | 0.10%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5102000 | PA      | $5160792.58   | 0.39%             | 2027-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1230000 | PA      | $1237110.94   | 0.09%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CLZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3486000 | PA      | $3564979.69   | 0.27%             | 2031-11-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    239000 | PA      | $244022.73    | 0.02%             | 2029-11-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2368000 | PA      | $2469195.00   | 0.19%             | 2031-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CME8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     24000 | PA      | $24154.69     | 0.00%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5168000 | PA      | $5198079.38   | 0.40%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    852000 | PA      | $882618.75    | 0.07%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1260000 | PA      | $1279982.81   | 0.10%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    258000 | PA      | $259632.66    | 0.02%             | 2027-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    382000 | PA      | $390386.09    | 0.03%             | 2032-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $809812.50    | 0.06%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     74000 | PA      | $75104.22     | 0.01%             | 2032-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    102000 | PA      | $104151.56    | 0.01%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    723000 | PA      | $726332.58    | 0.06%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1485000 | PA      | $1517252.34   | 0.12%             | 2032-05-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1111000 | PA      | $1126970.63   | 0.09%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1211531.25   | 0.09%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    606000 | PA      | $609243.05    | 0.05%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    384000 | PA      | $389340.00    | 0.03%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11674000 | PA      | $11907480.00  | 0.91%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2096000 | PA      | $2099438.75   | 0.16%             | 2027-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    112000 | PA      | $112700.00    | 0.01%             | 2032-08-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    627000 | PA      | $627783.75    | 0.05%             | 2030-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNY3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    162000 | PA      | $161519.06    | 0.01%             | 2028-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CNZ0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    821000 | PA      | $825874.69    | 0.06%             | 2032-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CPD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1580000 | PA      | $1581728.13   | 0.12%             | 2030-10-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                              | U.S. Treasury Notes                                                                                                                        | CUSIP: 91282CPF2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $598781.25    | 0.05%             | 2032-10-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PAR3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    351000 | PA      | $377319.05    | 0.03%             | 2036-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PAX0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    271000 | PA      | $306199.83    | 0.02%             | 2037-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PCY6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19853.58     | 0.00%             | 2027-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PEA6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1292000 | PA      | $806164.20    | 0.06%             | 2060-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PEF5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   2023000 | PA      | $1396888.31   | 0.11%             | 2051-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PEU2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    362000 | PA      | $364724.95    | 0.03%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PEV0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    548000 | PA      | $546003.17    | 0.04%             | 2033-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PEX6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22987.40     | 0.00%             | 2063-04-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                              | UnitedHealth Group, Inc.                                                                                                                   | CUSIP: 91324PEY4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    235000 | PA      | $236927.36    | 0.02%             | 2027-04-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue | Regents of the University of California, Medical Center Pooled, Series 2010H                                                               | CUSIP: 913366EP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $43474.03     | 0.00%             | 2048-05-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| University of Chicago (The)                                           | University of Chicago (The), Series C                                                                                                      | CUSIP: 91412NBE9<br>LEI: 54930099Y7GU6182V326 | Long             | DBT              | CORP              | US        |     52000 | PA      | $34253.54     | 0.00%             | 2050-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| University of Miami                                                   | University of Miami, Series 2022                                                                                                           | CUSIP: 914453AA3<br>LEI: 5493008ZSVWUNRYQE312 | Long             | DBT              | CORP              | US        |    581000 | PA      | $475915.26    | 0.04%             | 2052-04-01      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| Trustees of the University of Pennsylvania (The)                      | Trustees of the University of Pennsylvania (The)                                                                                           | CUSIP: 91481CAC4<br>LEI: 549300FG60YK9HZ7DS75 | Long             | DBT              | CORP              | US        |   2044000 | PA      | $1337982.91   | 0.10%             | 2119-02-15      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| University of Virginia                                                | University of Virginia, Series 2020                                                                                                        | CUSIP: 915217XF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $638010.89    | 0.05%             | 2050-09-01      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp.                                                   | Valero Energy Corp.                                                                                                                        | CUSIP: 91913YBC3<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    295000 | PA      | $270276.45    | 0.02%             | 2031-12-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp.                                                   | Valero Energy Corp.                                                                                                                        | CUSIP: 91913YBE9<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |     30000 | PA      | $22413.58     | 0.00%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                      | Ventas Realty LP                                                                                                                           | CUSIP: 92277GAB3<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46215.84     | 0.00%             | 2043-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                      | Ventas Realty LP                                                                                                                           | CUSIP: 92277GAM9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69825.35     | 0.01%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VCM4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     37000 | PA      | $33296.57     | 0.00%             | 2054-08-21      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VES9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55715.54     | 0.00%             | 2029-02-08      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1004000 | PA      | $886866.51    | 0.07%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VFU3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     80000 | PA      | $50579.35     | 0.00%             | 2050-11-20      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VFV1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    339000 | PA      | $202767.20    | 0.02%             | 2060-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VFX7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     85000 | PA      | $75329.31     | 0.01%             | 2030-10-30      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                          | Verizon Communications, Inc.                                                                                                               | CUSIP: 92343VGN8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    647000 | PA      | $571828.26    | 0.04%             | 2032-03-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Verisk Analytics, Inc.                                                | Verisk Analytics, Inc.                                                                                                                     | CUSIP: 92345YAL0<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138109.91    | 0.01%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                                      | Paramount Global                                                                                                                           | CUSIP: 92553PAW2<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    476000 | PA      | $386470.21    | 0.03%             | 2044-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                                      | Paramount Global                                                                                                                           | CUSIP: 92556HAD9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    431000 | PA      | $401572.51    | 0.03%             | 2032-05-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Viatris, Inc.                                                         | Viatris, Inc.                                                                                                                              | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    506000 | PA      | $488547.75    | 0.04%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Virginia Electric and Power Co.                                       | Virginia Electric and Power Co., Series C                                                                                                  | CUSIP: 927804FW9<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     80000 | PA      | $64902.39     | 0.00%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Electric and Power Co.                                       | Virginia Electric and Power Co., Series B                                                                                                  | CUSIP: 927804FY5<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1451000 | PA      | $1135818.17   | 0.09%             | 2047-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Virginia Electric and Power Co.                                       | Virginia Electric and Power Co.                                                                                                            | CUSIP: 927804GD0<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     78000 | PA      | $45567.99     | 0.00%             | 2050-12-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Visa, Inc.                                                            | Visa, Inc.                                                                                                                                 | CUSIP: 92826CAE2<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    668000 | PA      | $651169.71    | 0.05%             | 2035-12-14      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Visa, Inc.                                                            | Visa, Inc.                                                                                                                                 | CUSIP: 92826CAP7<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    970000 | PA      | $924553.69    | 0.07%             | 2027-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| VMware LLC                                                            | VMware LLC                                                                                                                                 | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    399000 | PA      | $376623.60    | 0.03%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| VMware LLC                                                            | VMware LLC                                                                                                                                 | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    125000 | PA      | $111379.59    | 0.01%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Vontier Corp.                                                         | Vontier Corp.                                                                                                                              | CUSIP: 928881AF8<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91505.90     | 0.01%             | 2031-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Co.                                                  | Vulcan Materials Co.                                                                                                                       | CUSIP: 929160AY5<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    122000 | PA      | $109141.68    | 0.01%             | 2048-03-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| WRKCo, Inc.                                                           | WRKCo, Inc.                                                                                                                                | CUSIP: 92940PAG9<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    697000 | PA      | $623367.84    | 0.05%             | 2033-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Walmart, Inc.                                                         | Walmart, Inc.                                                                                                                              | CUSIP: 931142ES8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    336000 | PA      | $317308.95    | 0.02%             | 2028-09-22      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Walmart, Inc.                                                         | Walmart, Inc.                                                                                                                              | CUSIP: 931142EV1<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     35000 | PA      | $22473.50     | 0.00%             | 2051-09-22      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Walmart, Inc.                                                         | Walmart, Inc.                                                                                                                              | CUSIP: 931142EY5<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111449.62    | 0.01%             | 2032-09-09      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Washington University (The)                                           | Washington University (The)                                                                                                                | CUSIP: 940663AD9<br>LEI: 2V765680J33YAZOYW441 | Long             | DBT              | CORP              | US        |     82000 | PA      | $63788.72     | 0.00%             | 2122-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Waste Connections, Inc.                                               | Waste Connections, Inc.                                                                                                                    | CUSIP: 94106BAD3<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |    371000 | PA      | $244420.19    | 0.02%             | 2052-01-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                | Waste Management, Inc.                                                                                                                     | CUSIP: 94106LBM0<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    765000 | PA      | $466833.99    | 0.04%             | 2050-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                | Waste Management, Inc.                                                                                                                     | CUSIP: 94106LBQ1<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65585.77     | 0.01%             | 2029-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                | Waste Management, Inc.                                                                                                                     | CUSIP: 94106LBU2<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    217000 | PA      | $220809.53    | 0.02%             | 2033-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Weibo Corp.                                                           | Weibo Corp.                                                                                                                                | CUSIP: 948596AE1<br>LEI: 549300Q9ID4640FE0422 | Long             | DBT              | CORP              | KY        |    346000 | PA      | $329491.96    | 0.03%             | 2030-07-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                 | Elevance Health, Inc.                                                                                                                      | CUSIP: 94973VBF3<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47570.70     | 0.00%             | 2044-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 94974BGK0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    800000 | PA      | $661207.90    | 0.05%             | 2045-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 94974BGL8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1254000 | PA      | $1259376.49   | 0.10%             | 2027-07-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 95000U2D4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10030.42     | 0.00%             | 2029-01-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2667000 | PA      | $2542567.58   | 0.19%             | 2030-10-30      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    180000 | PA      | $168602.93    | 0.01%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 95000U2S1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2453000 | PA      | $2393317.60   | 0.18%             | 2028-06-02      | Variable      | 2.39%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23493.86     | 0.00%             | 2033-03-02      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                     | Wells Fargo & Co.                                                                                                                          | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    547000 | PA      | $578540.25    | 0.04%             | 2034-07-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust, Series 2017-C38, Class A5                                                                           | CUSIP: 95001MAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $493346.33    | 0.04%             | 2050-07-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust, Series 2018-C45, Class A3                                                                           | CUSIP: 95001NAX6<br>LEI: 5493006021R83VCLAO08 | Long             | ABS-MBS          | CORP              | US        |     35928 | PA      | $35610.25     | 0.00%             | 2051-06-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust, Series 2019-C53, Class A4                                                                           | CUSIP: 95002BAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125000 | PA      | $119469.53    | 0.01%             | 2052-10-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class A5                                                                           | CUSIP: 95002EBB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000 | PA      | $9406.24      | 0.00%             | 2053-02-15      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| Western Union Co. (The)                                               | Western Union Co. (The)                                                                                                                    | CUSIP: 959802BA6<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |    600000 | PA      | $542541.97    | 0.04%             | 2031-03-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                             | Westinghouse Air Brake Technologies Corp.                                                                                                  | CUSIP: 960386AL4<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298117.19    | 0.02%             | 2026-11-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Westlake Corp.                                                        | Westlake Corp.                                                                                                                             | CUSIP: 960413AU6<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | DBT              | CORP              | US        |    100000 | PA      | $78145.36     | 0.01%             | 2047-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                 | Westpac Banking Corp.                                                                                                                      | CUSIP: 961214EF6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    184000 | PA      | $181255.49    | 0.01%             | 2034-07-24      | Variable      | 4.11%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                 | Westpac Banking Corp.                                                                                                                      | CUSIP: 961214EW9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |   1551000 | PA      | $1470761.36   | 0.11%             | 2028-11-20      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                 | Westpac Banking Corp.                                                                                                                      | CUSIP: 961214EX7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    135000 | PA      | $122147.72    | 0.01%             | 2036-11-18      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| WestRock MWV LLC                                                      | WestRock MWV LLC                                                                                                                           | CUSIP: 961548AY0<br>LEI: 4DL8C98Z5G5IXZLH3578 | Long             | DBT              | CORP              | US        |     26000 | PA      | $30037.51     | 0.00%             | 2031-02-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                             | Williams Cos., Inc. (The)                                                                                                                  | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79243.55     | 0.01%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                             | Williams Cos., Inc. (The)                                                                                                                  | CUSIP: 96949LAD7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     87000 | PA      | $86453.90     | 0.01%             | 2027-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Wisconsin Electric Power Co.                                          | Wisconsin Electric Power Co.                                                                                                               | CUSIP: 976656CK2<br>LEI: AENKIFMULUAWOUU8Q584 | Long             | DBT              | CORP              | US        |    129000 | PA      | $109683.05    | 0.01%             | 2048-10-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Wisconsin Power and Light Co.                                         | Wisconsin Power and Light Co.                                                                                                              | CUSIP: 976826BP1<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |   1001000 | PA      | $878654.55    | 0.07%             | 2031-09-16      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Workday, Inc.                                                         | Workday, Inc.                                                                                                                              | CUSIP: 98138HAH4<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    265000 | PA      | $261651.54    | 0.02%             | 2029-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Wyeth LLC                                                             | Wyeth LLC                                                                                                                                  | CUSIP: 983024AN0<br>LEI: 549300Q9GR3WRH4N4836 | Long             | DBT              | CORP              | US        |    417000 | PA      | $454766.32    | 0.03%             | 2037-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                     | Xcel Energy, Inc.                                                                                                                          | CUSIP: 98388MAD9<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29954.68     | 0.00%             | 2032-06-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Yamana Gold, Inc.                                                     | Yamana Gold, Inc.                                                                                                                          | CUSIP: 98462YAF7<br>LEI: 54930002VY22NXG01418 | Long             | DBT              | CORP              | CA        |     82000 | PA      | $73691.94     | 0.01%             | 2031-08-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Zoetis, Inc.                                                          | Zoetis, Inc.                                                                                                                               | CUSIP: 98978VAH6<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13927.55     | 0.00%             | 2043-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                                                | Asian Development Bank                                                                                                                     | CUSIP: 045167FN8<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |     64000 | PA      | $61492.87     | 0.00%             | 2032-04-27      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| EURO                                                                  | EURO                                                                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |        54 | OU      | $62.45        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau                                       | Kreditanstalt fuer Wiederaufbau                                                                                                            | CUSIP: N/A<br>LEI: 549300GDPG70E3MBBU98       | Long             | DBT              | NUSS              | DE        |    277000 | PA      | $279387.30    | 0.02%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** J.P. Morgan Exchange-Traded Fund Trust

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer