# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001145549-25-051779
**Filing Date:** 2025-8
**Character Count:** 132779
**Document Hash:** 0074a886236e95c5339868cf2a4d3dee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-051779.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001145549-25-051779

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**DATE AS OF CHANGE**: 20250819

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22961
- **FILM NUMBER:** 251233071

**BUSINESS ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alpha Architect ETF Trust
- **DATE OF NAME CHANGE:** 20140428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empowered Funds ETF Trust
- **DATE OF NAME CHANGE:** 20131125

## Series and Classes Contracts Data

### Strive Total Return Bond ETF (Series ID: S000080332)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000242670 | Strive Total Return Bond ETF | STXT            |

## Nport-Ex

---

| |
|:---|
| **Strive Total Return Bond ETF** |
| **Schedule of Investments** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES - 44.0%<sup>(a)</sup>** | **Par** | **Value** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |  |
| &nbsp;&nbsp; Pool QF3730, 5.00%, 11/01/2052 | $798016 | 787288 |
| &nbsp;&nbsp; Pool QF5342, 4.00%, 12/01/2052 | 1383503 | 1287081 |
| &nbsp;&nbsp; Pool QI2043, 6.00%, 03/01/2054 | 284242 | 290247 |
| &nbsp;&nbsp; Pool QI4343, 4.50%, 04/01/2054 | 2368552 | 2270466 |
| &nbsp;&nbsp; Pool QJ0225, 6.00%, 07/01/2054 | 1193524 | 1219486 |
| &nbsp;&nbsp; Pool QJ6384, 5.50%, 10/01/2054 | 452488 | 452786 |
| &nbsp;&nbsp; Pool QJ7677, 5.50%, 11/01/2054 | 1982196 | 1987216 |
| &nbsp;&nbsp; Pool QJ7705, 5.00%, 11/01/2054 | 490351 | 481671 |
| &nbsp;&nbsp; Pool QJ7711, 5.00%, 11/01/2054 | 950053 | 932641 |
| &nbsp;&nbsp; Pool QX1669, 5.00%, 12/01/2054 | 907387 | 899264 |
| &nbsp;&nbsp; Pool SD1961, 5.50%, 12/01/2052 | 360552 | 360564 |
| &nbsp;&nbsp; Pool SD2500, 5.00%, 03/01/2053 | 877648 | 860466 |
| &nbsp;&nbsp; Pool SD5781, 6.00%, 07/01/2054 | 607558 | 621153 |
| &nbsp;&nbsp; Pool SD6591, 5.00%, 10/01/2054 | 467448 | 458296 |
| &nbsp;&nbsp; Pool SD7029, 5.00%, 12/01/2054 | 985977 | 976534 |
| &nbsp;&nbsp; Pool SD8134, 2.00%, 03/01/2051 | 1424582 | 1132033 |
| &nbsp;&nbsp; Pool SD8256, 4.00%, 10/01/2052 | 1869815 | 1739500 |
| &nbsp;&nbsp; Pool SD8322, 4.50%, 05/01/2053 | 873285 | 835483 |
| &nbsp;&nbsp; Pool SD8325, 6.00%, 05/01/2053 | 915227 | 931988 |
| &nbsp;&nbsp; Pool SD8384, 6.00%, 12/01/2053 | 1914362 | 1945832 |
| &nbsp;&nbsp; Pool SL0079, 5.00%, 02/01/2055 | 991052 | 974686 |
| &nbsp;&nbsp; Pool SL0741, 6.00%, 02/01/2055 | 989375 | 1009720 |
| Federal National Mortgage Association | Federal National Mortgage Association |  |
| &nbsp;&nbsp; Pool BW8868, 5.00%, 10/01/2052 | 1815451 | 1782180 |
| &nbsp;&nbsp; Pool CB4379, 4.00%, 08/01/2052 | 2276495 | 2122818 |
| &nbsp;&nbsp; Pool DB6624, 5.50%, 06/01/2054 | 646146 | 650986 |
| &nbsp;&nbsp; Pool DC9709, 6.00%, 01/01/2055 | 495098 | 505403 |
| &nbsp;&nbsp; Pool FA0516, 5.00%, 02/01/2055 | 991897 | 974958 |
| &nbsp;&nbsp; Pool FS3826, 3.00%, 01/01/2052 | 3215930 | 2791685 |
| &nbsp;&nbsp; Pool FS4932, 6.00%, 06/01/2053 | 699660 | 715097 |
| &nbsp;&nbsp; Pool FS5635, 4.00%, 11/01/2052 | 1781926 | 1657736 |
| &nbsp;&nbsp; Pool FS8417, 4.00%, 10/01/2052 | 1022013 | 957811 |
| &nbsp;&nbsp; Pool FS9287, 5.50%, 09/01/2054 | 979916 | 981786 |
| &nbsp;&nbsp; Pool MA4356, 2.50%, 06/01/2051 | 1393763 | 1164124 |
| &nbsp;&nbsp; Pool MA4919, 5.50%, 02/01/2053 | 858389 | 858417 |
| &nbsp;&nbsp; Pool MA4941, 5.50%, 03/01/2053 | 832987 | 833015 |
| &nbsp;&nbsp; Pool MA5008, 4.50%, 05/01/2053 | 1304740 | 1248262 |
| &nbsp;&nbsp; Pool MA5039, 5.50%, 06/01/2053 | 908695 | 908725 |
| &nbsp;&nbsp; Pool MA5109, 6.50%, 08/01/2053 | 314755 | 325979 |
| &nbsp;&nbsp; Pool MA5165, 5.50%, 10/01/2053 | 849628 | 849656 |
| &nbsp;&nbsp; Pool MB0302, 5.50%, 02/01/2055 | 984295 | 984327 |
| Ginnie Mae II Pool | Ginnie Mae II Pool |  |
| &nbsp;&nbsp; Pool MA8493, 6.50%, 12/20/2052 | 99188 | 101830 |
| &nbsp;&nbsp; Pool MA8570, 5.50%, 01/20/2053 | 724873 | 725803 |
| &nbsp;&nbsp; Pool MA8647, 5.00%, 02/20/2053 | 812245 | 798026 |
| &nbsp;&nbsp; Pool MA8725, 5.00%, 03/20/2053 | 412082 | 404868 |
| &nbsp;&nbsp; Pool MA8726, 5.50%, 03/20/2053 | 670789 | 671650 |
| &nbsp;&nbsp; Pool MA8727, 6.00%, 03/20/2053 | 982946 | 997031 |
| &nbsp;&nbsp; Pool MA8800, 5.00%, 04/20/2053 | 418401 | 411076 |
| &nbsp;&nbsp; Pool MA8801, 5.50%, 04/20/2053 | 841464 | 843595 |
| &nbsp;&nbsp; Pool MA8877, 4.50%, 05/20/2053 | 1321598 | 1265422 |
| &nbsp;&nbsp; Pool MA8878, 5.00%, 05/20/2053 | 523102 | 513944 |
| &nbsp;&nbsp; Pool MA8879, 5.50%, 05/20/2053 | 839431 | 840508 |
| &nbsp;&nbsp; Pool MA8880, 6.00%, 05/20/2053 | 653962 | 663333 |
| &nbsp;&nbsp; Pool MA8948, 5.50%, 06/20/2053 | 1032385 | 1033709 |
| &nbsp;&nbsp; Pool MA8949, 6.00%, 06/20/2053 | 1034141 | 1051545 |
| &nbsp;&nbsp; Pool MA9018, 6.00%, 07/20/2053 | 338850 | 343706 |
| &nbsp;&nbsp; Pool MA9105, 5.00%, 08/20/2053 | 1768862 | 1737896 |
| &nbsp;&nbsp; Pool MA9166, 3.00%, 09/20/2053 | 165330 | 146878 |
| &nbsp;&nbsp; Pool MA9305, 5.50%, 11/20/2053 | 750632 | 751596 |
| &nbsp;&nbsp; Pool MA9539, 4.50%, 03/20/2054 | 955166 | 914864 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $56,809,820) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $56,809,820) | 56984646 |
| **ASSET-BACKED SECURITIES - 16.1%** | **Par** | **Value** |
|  ACHV ABS TRUST, Series 2024-2PL, Class D, 6.40%, 10/27/2031 <sup>(b)</sup> | 376753 | 378030 |
|  Affirm, Inc., Series 2024-A, Class D, 6.89%, 02/15/2029 <sup>(b)</sup> | 200000 | 201895 |
|  American Heritage Auto Receivables Trust, Series 2024-1A, Class D, 6.34%, 01/18/2033 <sup>(b)</sup> | 250000 | 256312 |
| Avis Budget Car Rental LLC | Avis Budget Car Rental LLC |  |
| &nbsp;&nbsp; Series 2023-1A, Class C, 6.23%, 04/20/2029 <sup>(b)</sup> | 300000 | 306676 |
| &nbsp;&nbsp; Series 2025-2A, Class C, 6.24%, 08/20/2031 <sup>(b)</sup> | 1000000 | 1026286 |
|  Bankers Healthcare Group, Inc., Series 2024-1CON, Class C, 6.86%, 04/17/2035 <sup>(b)</sup> | 400000 | 410843 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |  |
| &nbsp;&nbsp; Series 2023-P4, Class D, 7.37%, 10/10/2030 <sup>(b)</sup> | 1000000 | 1062453 |
| &nbsp;&nbsp; Series 2023-P5, Class D, 7.18%, 12/10/2030 <sup>(b)</sup> | 1000000 | 1063416 |
| &nbsp;&nbsp; Series 2024-P2, Class D, 6.10%, 06/10/2031 | 250000 | 257286 |
| &nbsp;&nbsp; Series 2024-P3, Class D, 5.39%, 09/10/2032 | 500000 | 499375 |
|  COLT Funding LLC, Series 2022-4, Class A2, 4.50%, 03/25/2067 <sup>(b)(c)</sup> | 412617 | 397648 |
|  Ellington Financial Mortgage Trust, Series 2021-2, Class M1, 2.30%, 06/25/2066 <sup>(b)(c)</sup> | 885000 | 606958 |
| FHF Trust | FHF Trust |  |
| &nbsp;&nbsp; Series 2024-2A, Class C, 6.43%, 07/15/2030 <sup>(b)</sup> | 790000 | 810857 |
| &nbsp;&nbsp; Series 2024-2A, Class D, 7.15%, 09/15/2031 <sup>(b)</sup> | 500000 | 515393 |
| &nbsp;&nbsp; Series 2024-3A, Class D, 6.01%, 12/15/2031 <sup>(b)</sup> | 500000 | 501623 |
|  FIGRE Trust 2024-HE1, Series 2024-HE1, Class B, 6.51%, 03/25/2054 <sup>(b)(c)</sup> | 735856 | 760727 |
| FREED ABS Trust | FREED ABS Trust |  |
| &nbsp;&nbsp; Series 2021-3FP, Class D, 2.37%, 11/20/2028 <sup>(b)</sup> | 45517 | 45324 |
| &nbsp;&nbsp; Series 2022-4FP, Class D, 7.40%, 12/18/2029 <sup>(b)</sup> | 199923 | 201309 |
|  GCAT, Series 2021-NQM4, Class A3, 1.56%, 08/25/2066 <sup>(b)(c)</sup> | 1073305 | 881967 |
|  GLS Auto Select Receivables Trust, Series 2024-2A, Class D, 6.37%, 08/15/2031 <sup>(b)</sup> | 1000000 | 1032877 |
|  GoodLeap Sustainable Home Solutions Trust, Series 2022-1GS, Class A, 2.70%, 01/20/2049 <sup>(b)</sup> | 126580 | 108110 |
| GreenSky LLC | GreenSky LLC |  |
| &nbsp;&nbsp; Series 2024-1, Class D, 7.33%, 06/25/2059 <sup>(b)</sup> | 500000 | 519531 |
| &nbsp;&nbsp; Series 2024-2, Class D, 6.43%, 10/27/2059 <sup>(b)</sup> | 1000000 | 1013406 |
|  Helios Issuer LLC, Series 2021-B, Class A, 1.62%, 07/20/2048 <sup>(b)</sup> | 74814 | 62326 |
|  Hertz Corp., Series 2023-4A, Class C, 7.51%, 03/25/2030 <sup>(b)</sup> | 500000 | 518069 |
| Marlette Funding Trust | Marlette Funding Trust |  |
| &nbsp;&nbsp; Series 2023-2A, Class D, 7.92%, 06/15/2033 <sup>(b)</sup> | 300000 | 310527 |
| &nbsp;&nbsp; Series 2024-1A, Class D, 6.93%, 07/17/2034 <sup>(b)</sup> | 500000 | 514205 |
|  MFRA Trust, Series 2021-NQM2, Class A3, 1.47%, 11/25/2064 <sup>(b)(c)</sup> | 362112 | 318435 |
|  Octane Receivables Trust, Series 2024-RVM1, Class D, 6.30%, 01/22/2046 <sup>(b)</sup> | 500000 | 505113 |
|  Pagaya AI Debt Selection Trust, Series 2025-1, Class D, 6.28%, 07/15/2032 <sup>(b)</sup> | 999915 | 1003525 |
|  PRPM LLC, Series 2022-NQM1, Class A3, 5.50%, 08/25/2067 <sup>(b)(d)</sup> | 264954 | 272508 |
|  Purchasing Power Funding, Series 2024-A, Class D, 7.26%, 08/15/2028 <sup>(b)</sup> | 200000 | 202112 |
|  Republic Finance Issuance Trust, Series 2024-A, Class C, 7.28%, 08/20/2032 <sup>(b)</sup> | 250000 | 256918 |
|  Saluda Grade Mortgage Funding LLC, Series 2023-FIG4, Class A, 6.72%, 11/25/2053 <sup>(b)(c)</sup> | 367151 | 379572 |
|  SBNA Auto Receivables Trust 2024-A, Series 2024-A, Class D, 6.04%, 04/15/2030 <sup>(b)</sup> | 500000 | 510631 |
|  SoFi Consumer Loan Program Trust, Series 2025-1, Class D, 5.72%, 02/27/2034 <sup>(b)</sup> | 1000000 | 1012257 |
|  Sunnova Energy International, Inc., Series 2023-B, Class A, 5.30%, 08/22/2050 <sup>(b)</sup> | 86780 | 79305 |
|  Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/2028 <sup>(b)</sup> | 200000 | 202619 |
|  Towd Point Mortgage Trust, Series 2024-4, Class A2, 4.43%, 10/27/2064 <sup>(b)(c)</sup> | 1500000 | 1357300 |
|  Veros Automobile Receivables Trust, Series 2024-1, Class C, 7.57%, 12/15/2028 <sup>(b)</sup> | 500000 | 514394 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $20,488,793) | **TOTAL ASSET-BACKED SECURITIES** (Cost $20,488,793) | 20878118 |
| **U.S. TREASURY SECURITIES - 13.7%** | **Par** | **Value** |
| **GOVT - 13.7%** | **GOVT - 13.7%** |  |
| United States Treasury Note/Bond | United States Treasury Note/Bond |  |
| &nbsp;&nbsp; 4.63%, 11/15/2026 | 1350000 | 1363289 |
| &nbsp;&nbsp; 0.63%, 03/31/2027 | 800000 | 757938 |
| &nbsp;&nbsp; 4.38%, 08/31/2028 | 1000000 | 1019961 |
| &nbsp;&nbsp; 3.50%, 04/30/2030 | 1000000 | 987324 |
| &nbsp;&nbsp; 4.13%, 08/31/2030 | 1000000 | 1014648 |
| &nbsp;&nbsp; 1.25%, 08/15/2031 | 1000000 | 855664 |
| &nbsp;&nbsp; 1.88%, 02/15/2032 | 1900000 | 1669440 |
| &nbsp;&nbsp; 4.13%, 11/15/2032 | 1200000 | 1208531 |
| &nbsp;&nbsp; 3.50%, 02/15/2033 | 1000000 | 964297 |
| &nbsp;&nbsp; 3.88%, 08/15/2033 | 1000000 | 985078 |
| &nbsp;&nbsp; 4.38%, 05/15/2034 | 1000000 | 1015898 |
| &nbsp;&nbsp; 4.50%, 05/15/2038 | 1000000 | 1012109 |
| &nbsp;&nbsp; 3.50%, 02/15/2039 | 1200000 | 1083891 |
| &nbsp;&nbsp; 1.13%, 05/15/2040 | 2000000 | 1244063 |
| &nbsp;&nbsp; 1.13%, 08/15/2040 | 1000000 | 615508 |
| &nbsp;&nbsp; 3.88%, 08/15/2040 | 1200000 | 1104328 |
| &nbsp;&nbsp; 1.88%, 11/15/2051 | 1500000 | 835078 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $17,729,741) | **TOTAL U.S. TREASURY SECURITIES** (Cost $17,729,741) | 17737045 |
| **CORPORATE BONDS - 10.0%** | **Par** | **Value** |
| **<u>Communication Services</u> - 0.4%** | **<u>Communication Services</u> - 0.4%** |  |
| **Cable & Satellite - 0.1%** | **Cable & Satellite - 0.1%** |  |
|  Comcast Corp., 6.50%, 11/15/2035 | 100000 | 111158 |
| **Integrated Telecommunication Services - 0.2%** | **Integrated Telecommunication Services - 0.2%** |  |
|  AT&T, Inc., 4.90%, 08/15/2037 | 100000 | 95906 |
|  Verizon Communications, Inc., 4.27%, 01/15/2036 | 200000 | 184977 |
|  |  | 280883 |
| **Technology - 0.1%** | **Technology - 0.1%** |  |
|  T-Mobile USA, Inc., 5.05%, 07/15/2033 | 150000 | 151079 |
| **Total Communication Services** | **Total Communication Services** | 543120 |
| **<u>Consumer Discretionary</u> - 0.7%** | **<u>Consumer Discretionary</u> - 0.7%** |  |
| **Automotive - 0.1%** | **Automotive - 0.1%** |  |
|  General Motors Financial Co., Inc., 6.10%, 01/07/2034 | 100000 | 102972 |
| **Automotive Parts & Equipment - 0.1%** | **Automotive Parts & Equipment - 0.1%** |  |
|  BorgWarner, Inc., 5.40%, 08/15/2034 | 100000 | 101192 |
|  Phinia, Inc., 6.75%, 04/15/2029 <sup>(b)</sup> | 100000 | 103343 |
|  |  | 204535 |
| **Automotive Retail - 0.1%** | **Automotive Retail - 0.1%** |  |
|  O'Reilly Automotive, Inc., 4.70%, 06/15/2032 | 150000 | 149001 |
| **CORP - 0.1%** | **CORP - 0.1%** |  |
|  Ford Motor Credit Co. LLC, 6.13%, 03/08/2034 | 100000 | 97393 |
| **Home Improvement Retail - 0.1%** | **Home Improvement Retail - 0.1%** |  |
|  Lowe's Cos., Inc., 5.15%, 07/01/2033 | 100000 | 102094 |
| **Homebuilding - 0.2%** | **Homebuilding - 0.2%** |  |
|  Meritage Homes Corp., 5.65%, 03/15/2035 | 150000 | 150537 |
|  PulteGroup, Inc., 6.38%, 05/15/2033 | 100000 | 107347 |
|  |  | 257884 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | 913879 |
| **<u>Consumer Staples</u> - 1.4%** | **<u>Consumer Staples</u> - 1.4%** |  |
| **Agricultural Products & Services - 0.1%** | **Agricultural Products & Services - 0.1%** |  |
|  Bunge Ltd. Finance Corp., 2.75%, 05/14/2031 | 200000 | 181121 |
| **Brewers - 0.1%** | **Brewers - 0.1%** |  |
|  Molson Coors Beverage Co., 4.20%, 07/15/2046 | 100000 | 79850 |
| **Distillers & Vintners - 0.1%** | **Distillers & Vintners - 0.1%** |  |
|  Brown-Forman Corp., 4.00%, 04/15/2038 | 100000 | 87986 |
|  Constellation Brands, Inc., 4.90%, 05/01/2033 | 100000 | 99142 |
|  |  | 187128 |
| **Food & Beverage - 0.2%** | **Food & Beverage - 0.2%** |  |
|  JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 6.75%, 03/15/2034 | 93000 | 101583 |
|  Mars, Inc., 5.20%, 03/01/2035 <sup>(b)</sup> | 200000 | 202496 |
|  |  | 304079 |
| **Food Retail - 0.1%** | **Food Retail - 0.1%** |  |
|  Kroger Co., 5.00%, 09/15/2034 | 100000 | 99347 |
| **Packaged Foods & Meats - 0.5%** | **Packaged Foods & Meats - 0.5%** |  |
|  Conagra Brands, Inc., 5.30%, 11/01/2038 | 100000 | 95787 |
|  J M Smucker Co., 6.20%, 11/15/2033 | 200000 | 214764 |
|  Kraft Heinz Foods Co., 6.88%, 01/26/2039 | 100000 | 110689 |
|  The Campbell's Co., 5.40%, 03/21/2034 | 100000 | 101623 |
|  Tyson Foods, Inc., 4.88%, 08/15/2034 | 100000 | 97506 |
|  |  | 620369 |
| **Soft Drinks & Non-alcoholic Beverages - 0.2%** | **Soft Drinks & Non-alcoholic Beverages - 0.2%** |  |
|  Keurig Dr Pepper, Inc., 5.30%, 03/15/2034 | 200000 | 204844 |
| **Tobacco - 0.1%** | **Tobacco - 0.1%** |  |
|  Philip Morris International, Inc., 5.25%, 02/13/2034 | 100000 | 102048 |
| **Total Consumer Staples** | **Total Consumer Staples** | 1778786 |
| **<u>Energy</u> - 1.0%** | **<u>Energy</u> - 1.0%** |  |
| **Midstream - 0.1%** | **Midstream - 0.1%** |  |
|  Cheniere Corpus Christi Holdings LLC, 2.74%, 12/31/2039 | 100000 | 81437 |
|  Plains All American Pipeline LP / PAA Finance Corp., 5.70%, 09/15/2034 | 100000 | 102001 |
|  |  | 183438 |
| **Oil & Gas Exploration & Production - 0.2%** | **Oil & Gas Exploration & Production - 0.2%** |  |
|  Continental Resources, Inc., 5.75%, 01/15/2031 <sup>(b)</sup> | 100000 | 101005 |
|  Greenfire Resources Ltd., 12.00%, 10/01/2028 <sup>(b)</sup> | 40000 | 42279 |
|  Hess Corp., 7.13%, 03/15/2033 | 100000 | 113430 |
|  |  | 256714 |
| **Oil & Gas Storage & Transportation - 0.6%** | **Oil & Gas Storage & Transportation - 0.6%** |  |
|  Cheniere Energy Partners LP, 5.75%, 08/15/2034 | 100000 | 102748 |
|  Energy Transfer LP, 7.38%, 02/01/2031 <sup>(b)</sup> | 100000 | 104798 |
|  Kinder Morgan, Inc., 5.95%, 08/01/2054 | 100000 | 98249 |
|  MPLX LP, 5.00%, 03/01/2033 | 100000 | 98660 |
|  ONEOK, Inc., 6.05%, 09/01/2033 | 100000 | 104972 |
|  Targa Resources Corp., 6.50%, 03/30/2034 | 100000 | 107512 |
|  Western Midstream Operating LP, 6.15%, 04/01/2033 | 100000 | 104127 |
|  Williams Cos., Inc., 5.65%, 03/15/2033 | 100000 | 103974 |
|  |  | 825040 |
| **Oil Field Services - 0.1%** | **Oil Field Services - 0.1%** |  |
|  Shelf Drilling Holdings Ltd., 9.63%, 04/15/2029 <sup>(b)</sup> | 100000 | 80193 |
| **Total Energy** | **Total Energy** | 1345385 |
| **<u>Financials</u> - 3.4%** | **<u>Financials</u> - 3.4%** |  |
| **Commercial & Residential Mortgage Finance - 0.4%** | **Commercial & Residential Mortgage Finance - 0.4%** |  |
|  Enact Holdings, Inc., 6.25%, 05/28/2029 | 100000 | 103818 |
|  NMI Holdings, Inc., 6.00%, 08/15/2029 | 100000 | 102735 |
|  Radian Group, Inc., 6.20%, 05/15/2029 | 250000 | 259890 |
|  |  | 466443 |
| **Consumer Finance - 0.3%** | **Consumer Finance - 0.3%** |  |
|  American Express Co., 5.28% to 07/26/2034 then SOFR + 1.42%, 07/26/2035 | 200000 | 202556 |
|  Capital One Financial Corp., 5.82% to 02/01/2033 then SOFR + 2.60%, 02/01/2034 | 200000 | 206406 |
|  |  | 408962 |
| **Diversified Banks - 1.0%** | **Diversified Banks - 1.0%** |  |
|  Bank of America Corp., 2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036 | 250000 | 211908 |
|  Fifth Third Bancorp, 5.63% to 01/29/2031 then SOFR + 1.84%, 01/29/2032 | 200000 | 208195 |
|  JPMorgan Chase & Co., 6.25% to 10/23/2033 then SOFR + 1.81%, 10/23/2034 | 300000 | 326172 |
|  PNC Financial Services Group, Inc., 5.68% to 01/22/2034 then SOFR + 1.90%, 01/22/2035 | 300000 | 311814 |
|  Wells Fargo & Co., 5.56% to 07/25/2033 then SOFR + 1.99%, 07/25/2034 | 300000 | 309721 |
|  |  | 1367810 |
| **Diversified Capital Markets - 0.2%** | **Diversified Capital Markets - 0.2%** |  |
|  UBS Group AG, 5.70% to 02/08/2034 then 1 yr. CMT Rate + 1.77%, 02/08/2035 <sup>(b)</sup> | 200000 | 207819 |
| **Finance Companies - 0.3%** | **Finance Companies - 0.3%** |  |
|  AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.30%, 01/30/2032 | 150000 | 135982 |
|  Avolon Holdings Funding Ltd., 5.75%, 11/15/2029 <sup>(b)</sup> | 100000 | 102996 |
|  Macquarie Airfinance Holdings Ltd., 6.50%, 03/26/2031 <sup>(b)</sup> | 100000 | 105909 |
|  |  | 344887 |
| **Finance-Leasing Companies - 0.1%** | **Finance-Leasing Companies - 0.1%** |  |
|  GGAM Finance Ltd., 6.88%, 04/15/2029 <sup>(b)</sup> | 100000 | 103633 |
| **Financial Exchanges & Data - 0.1%** | **Financial Exchanges & Data - 0.1%** |  |
|  MSCI, Inc., 3.25%, 08/15/2033 <sup>(b)</sup> | 100000 | 87701 |
| **Investment Banking & Brokerage - 0.5%** | **Investment Banking & Brokerage - 0.5%** |  |
|  Goldman Sachs Group, Inc., 3.10% to 02/24/2032 then SOFR + 1.41%, 02/24/2033 | 200000 | 180062 |
|  LPL Holdings, Inc., 4.00%, 03/15/2029 <sup>(b)</sup> | 200000 | 194336 |
|  Morgan Stanley, 5.95% to 01/19/2033 then 5 yr. CMT Rate + 2.43%, 01/19/2038 | 300000 | 308735 |
|  |  | 683133 |
| **Life & Health Insurance - 0.1%** | **Life & Health Insurance - 0.1%** |  |
|  MetLife, Inc., 6.50%, 12/15/2032 | 100000 | 112317 |
| **Regional Banks - 0.1%** | **Regional Banks - 0.1%** |  |
|  M&T Bank Corp., 5.05% to 01/27/2033 then SOFR + 1.85%, 01/27/2034 | 200000 | 197493 |
| **Trading Companies & Distributors - 0.1%** | **Trading Companies & Distributors - 0.1%** |  |
|  Aircastle Ltd. / Aircastle Ireland DAC, 5.25%, 03/15/2030 <sup>(b)</sup> | 150000 | 151328 |
| **Transaction & Payment Processing Services - 0.2%** | **Transaction & Payment Processing Services - 0.2%** |  |
|  Fiserv, Inc., 5.63%, 08/21/2033 | 100000 | 104024 |
|  Global Payments, Inc., 5.40%, 08/15/2032 | 150000 | 153196 |
|  |  | 257220 |
| **Total Financials** | **Total Financials** | 4388746 |
| **<u>Health Care</u> - 0.7%** | **<u>Health Care</u> - 0.7%** |  |
| **Biotechnology - 0.1%** | **Biotechnology - 0.1%** |  |
|  Amgen, Inc., 5.25%, 03/02/2033 | 100000 | 102437 |
| **Health Care Equipment - 0.3%** | **Health Care Equipment - 0.3%** |  |
|  Baxter International, Inc., 2.54%, 02/01/2032 | 100000 | 87197 |
|  GE HealthCare Technologies, Inc., 5.91%, 11/22/2032 | 150000 | 159524 |
|  Zimmer Biomet Holdings, Inc., 2.60%, 11/24/2031 | 200000 | 176847 |
|  |  | 423568 |
| **Health Care Providers & Services - 0.1%** | **Health Care Providers & Services - 0.1%** |  |
|  HCA, Inc., 5.45%, 09/15/2034 | 100000 | 100909 |
| **Life Sciences Tools & Services - 0.1%** | **Life Sciences Tools & Services - 0.1%** |  |
|  Agilent Technologies, Inc., 4.75%, 09/09/2034 | 100000 | 98458 |
|  Bio-Rad Laboratories, Inc., 3.70%, 03/15/2032 | 100000 | 92002 |
|  |  | 190460 |
| **Pharmaceuticals - 0.1%** | **Pharmaceuticals - 0.1%** |  |
|  Royalty Pharma PLC, 3.30%, 09/02/2040 | 100000 | 75359 |
| **Total Health Care** | **Total Health Care** | 892733 |
| **<u>Industrials</u> - 0.9%** | **<u>Industrials</u> - 0.9%** |  |
| **Aerospace & Defense - 0.1%** | **Aerospace & Defense - 0.1%** |  |
|  Northrop Grumman Corp., 5.20%, 06/01/2054 | 100000 | 93273 |
|  RTX Corp., 6.10%, 03/15/2034 | 100000 | 108158 |
|  |  | 201431 |
| **Air Freight & Logistics - 0.1%** | **Air Freight & Logistics - 0.1%** |  |
|  United Parcel Service, Inc., 5.50%, 05/22/2054 | 100000 | 97060 |
| **Building Products - 0.0%<sup>(e)</sup>** | **Building Products - 0.0%<sup>(e)</sup>** |  |
|  Carrier Global Corp., 3.38%, 04/05/2040 | 100000 | 79424 |
| **Commercial Services - 0.1%** | **Commercial Services - 0.1%** |  |
|  Ashtead Capital, Inc., 5.95%, 10/15/2033 <sup>(b)</sup> | 200000 | 207276 |
| **Construction & Engineering - 0.1%** | **Construction & Engineering - 0.1%** |  |
|  MasTec, Inc., 4.50%, 08/15/2028 <sup>(b)</sup> | 100000 | 98696 |
| **Construction Machinery - 0.1%** | **Construction Machinery - 0.1%** |  |
|  United Rentals North America, Inc., 6.00%, 12/15/2029 <sup>(b)</sup> | 100000 | 102494 |
| **Environmental & Facilities Services - 0.1%** | **Environmental & Facilities Services - 0.1%** |  |
|  Waste Management, Inc., 4.88%, 02/15/2034 | 100000 | 101421 |
| **Ground Transportation - 0.1%** | **Ground Transportation - 0.1%** |  |
|  Burlington Northern Santa Fe LLC, 4.13%, 06/15/2047 | 100000 | 82219 |
| **Rail Transportation - 0.1%** | **Rail Transportation - 0.1%** |  |
|  CSX Corp., 6.15%, 05/01/2037 | 100000 | 108627 |
| **Trading Companies & Distributors - 0.1%** | **Trading Companies & Distributors - 0.1%** |  |
|  GATX Corp., 5.50%, 06/15/2035 | 100000 | 101333 |
| **Total Industrials** | **Total Industrials** | 1179981 |
| **<u>Information Technology</u> - 0.6%** | **<u>Information Technology</u> - 0.6%** |  |
| **Application Software - 0.0%<sup>(e)</sup>** | **Application Software - 0.0%<sup>(e)</sup>** |  |
|  Roper Technologies, Inc., 1.75%, 02/15/2031 | 100000 | 85897 |
| **Electronic Components - 0.1%** | **Electronic Components - 0.1%** |  |
|  Amphenol Corp., 5.25%, 04/05/2034 | 100000 | 102965 |
| **Systems Software - 0.2%** | **Systems Software - 0.2%** |  |
|  Oracle Corp., 3.90%, 05/15/2035 | 150000 | 135397 |
|  VMware LLC, 2.20%, 08/15/2031 | 100000 | 86830 |
|  |  | 222227 |
| **Technology - 0.1%** | **Technology - 0.1%** |  |
|  IBM International Capital Pte Ltd., 4.90%, 02/05/2034 | 100000 | 99857 |
| **Technology Distributors - 0.1%** | **Technology Distributors - 0.1%** |  |
|  Arrow Electronics, Inc., 5.88%, 04/10/2034 | 100000 | 103332 |
|  CDW LLC / CDW Finance Corp., 5.55%, 08/22/2034 | 100000 | 99849 |
|  |  | 203181 |
| **Wireless - 0.1%** | **Wireless - 0.1%** |  |
|  Dell International LLC / EMC Corp., 5.75%, 02/01/2033 | 100000 | 105110 |
| **Total Information Technology** | **Total Information Technology** | 819237 |
| **<u>Materials</u> - 0.6%** | **<u>Materials</u> - 0.6%** |  |
| **Construction Materials - 0.2%** | **Construction Materials - 0.2%** |  |
|  CRH America Finance, Inc., 5.40%, 05/21/2034 | 200000 | 205177 |
| **Copper - 0.1%** | **Copper - 0.1%** |  |
|  Freeport-McMoRan, Inc., 5.40%, 11/14/2034 | 100000 | 101626 |
| **Fertilizers & Agricultural Chemicals - 0.1%** | **Fertilizers & Agricultural Chemicals - 0.1%** |  |
|  Mosaic Co., 5.63%, 11/15/2043 | 100000 | 95667 |
|  Nutrien Ltd., 2.95%, 05/13/2030 | 100000 | 93142 |
|  |  | 188809 |
| **Mining - 0.1%** | **Mining - 0.1%** |  |
|  Barrick International Barbados Corp., 6.35%, 10/15/2036 <sup>(b)</sup> | 100000 | 107554 |
| **Steel - 0.1%** | **Steel - 0.1%** |  |
|  Nucor Corp., 5.10%, 06/01/2035 | 100000 | 100359 |
| **Total Materials** | **Total Materials** | 703525 |
| **<u>Real Estate</u> - 0.2%** | **<u>Real Estate</u> - 0.2%** |  |
| **Telecom Tower REITs - 0.2%** | **Telecom Tower REITs - 0.2%** |  |
|  American Tower Corp., 5.55%, 07/15/2033 | 150000 | 154800 |
|  Crown Castle, Inc., 5.10%, 05/01/2033 | 100000 | 99646 |
| **Total Real Estate** | **Total Real Estate** | 254446 |
| **<u>Utilities</u> - 0.1%** | **<u>Utilities</u> - 0.1%** |  |
| **Utilities - 0.1%** | **Utilities - 0.1%** |  |
|  Vistra Operations Co. LLC, 6.00%, 04/15/2034 <sup>(b)</sup> | 100000 | 103933 |
| **TOTAL CORPORATE BONDS** (Cost $12,588,234) | **TOTAL CORPORATE BONDS** (Cost $12,588,234) | 12923771 |
| **COLLATERALIZED LOAN OBLIGATIONS - 7.0%** | **Par** | **Value** |
|  Anchorage Credit Funding Ltd., Series 2019-8A, Class BR, 3.01%, 07/25/2037 <sup>(b)</sup> | 400000 | 373815 |
| ARES CLO | ARES CLO |  |
| &nbsp;&nbsp; Series 2020-57A, Class BR, 6.19% (3 mo. Term SOFR + 1.91%), 01/25/2035 <sup>(b)</sup> | 1050000 | 1052925 |
| &nbsp;&nbsp; Series 2023-68A, Class E, 12.83% (3 mo. Term SOFR + 8.55%), 04/25/2035 <sup>(b)</sup> | 500000 | 501606 |
|  Ballyrock CLO Ltd., Series 2019-1A, Class A2R, 6.07% (3 mo. Term SOFR + 1.81%), 07/15/2032 <sup>(b)</sup> | 1200000 | 1201781 |
|  Carlyle Global Market Strategies, Series C17A, Class CR, 7.34% (3 mo. Term SOFR + 3.06%), 04/30/2031 <sup>(b)</sup> | 1000000 | 1003592 |
|  Dryden Senior Loan Fund, Series 2018-64A, Class D, 7.18% (3 mo. Term SOFR + 2.91%), 04/18/2031 <sup>(b)</sup> | 500000 | 501849 |
|  Golub Capital Partners CLO Ltd., Series 2023-69A, Class C, 8.30% (3 mo. Term SOFR + 4.00%), 11/09/2036 <sup>(b)</sup> | 1000000 | 1003177 |
|  Jamestown CLO Ltd., Series 2018-11A, Class A2, 6.20% (3 mo. Term SOFR + 1.96%), 07/14/2031 <sup>(b)</sup> | 1030000 | 1033492 |
|  Ocean Trails CLO, Series 2023-14A, Class D1R, 7.37% (3 mo. Term SOFR + 3.10%), 01/20/2038 <sup>(b)</sup> | 580000 | 580747 |
|  Octagon Investment Partners Ltd., Series 2018-1A, Class C, 6.22% (3 mo. Term SOFR + 1.96%), 04/15/2031 <sup>(b)</sup> | 500000 | 501532 |
|  Verdelite Static CLO Ltd., Series 2024-1A, Class D, 7.12% (3 mo. Term SOFR + 2.85%), 07/20/2032 <sup>(b)</sup> | 500000 | 500801 |
|  Voya CLO Ltd., Series 2016-1A, Class BR, 6.33% (3 mo. Term SOFR + 2.06%), 01/20/2031 <sup>(b)</sup> | 750000 | 753044 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $8,974,217) | **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $8,974,217) | 9008361 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 4.5%** | **Par** | **Value** |
|  Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2023-HQA2, Class M1B, 7.66% (30 day avg SOFR US + 3.35%), 06/25/2043 <sup>(b)</sup> | 500000 | 521436 |
| GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |  |
| &nbsp;&nbsp; Series 2021-MM1, Class A2, 2.50%, 04/25/2052 <sup>(b)(c)</sup> | 1624748 | 1324005 |
| &nbsp;&nbsp; Series 2023-PJ4, Class A15, 6.00%, 01/25/2054 <sup>(b)(c)</sup> | 326060 | 329603 |
|  JP Morgan Mortgage Trust, Series 2021-1, Class A3, 2.50%, 06/25/2051 <sup>(b)(c)</sup> | 442656 | 360950 |
| Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust |  |
| &nbsp;&nbsp; Series 2021-J2, Class A1, 2.50%, 07/25/2051 <sup>(b)(c)</sup> | 1153065 | 932522 |
| &nbsp;&nbsp; Series 2021-NQM2, Class A3, 1.56%, 05/25/2061 <sup>(b)(c)</sup> | 568933 | 473088 |
|  RCKT Mortgage Trust, Series 2022-4, Class A2, 3.50%, 06/25/2052 <sup>(b)(c)</sup> | 801296 | 702356 |
| SGR Residential Mortgage Trust | SGR Residential Mortgage Trust |  |
| &nbsp;&nbsp; Series 2020-2, Class A1, 1.38%, 05/25/2065 <sup>(b)(c)</sup> | 346657 | 319025 |
| &nbsp;&nbsp; Series 2021-1, Class M1, 2.50%, 07/25/2061 <sup>(b)(c)</sup> | 744000 | 485752 |
|  Western Alliance Bancorp, Series 2021-CL2, Class M3, 8.41% (30 day avg SOFR US + 4.10%), 07/25/2059 <sup>(b)</sup> | 436188 | 438568 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $5,854,629) | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $5,854,629) | 5887305 |
| **CONVERTIBLE BONDS - 1.4%** | **Par** | **Value** |
| **<u>Information Technology</u> - 1.4%** | **<u>Information Technology</u> - 1.4%** |  |
| **Application Software - 1.4%** | **Application Software - 1.4%** |  |
|  MicroStrategy, Inc., 0.00%, 03/01/2030 <sup>(b)(f)</sup> | 1500000 | 1764550 |
| **TOTAL CONVERTIBLE BONDS** (Cost $1,463,944) | **TOTAL CONVERTIBLE BONDS** (Cost $1,463,944) | 1764550 |
| **SHORT-TERM INVESTMENTS - 2.2%** |  | **Value**  |
| **Money Market Funds - 2.2%** | **<u>Shares</u>** |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(g)</sup> | 2784744 | 2784744 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $2,784,744) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $2,784,744) | 2784744 |
| **TOTAL INVESTMENTS - 98.9% (**Cost $126,694,122**)** | **TOTAL INVESTMENTS - 98.9% (**Cost $126,694,122**)** | 127968540 |
| Other Assets in Excess of Liabilities - 1.1% | Other Assets in Excess of Liabilities - 1.1% | &nbsp;&nbsp;&nbsp;&nbsp; 1430427 |
| **TOTAL NET ASSETS - 100.0%** |  | 129398967 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |

---

(a) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those
 industries or sectors.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of June 30, 2025, the value of these securities total $38,989,462 or 30.1% of the Fund's net assets.

(c) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of June 30, 2025.

(d) Step coupon bond. The rate disclosed is as of June 30, 2025.

(e) Represents less than 0.05% of net assets.

(f) Zero coupon bonds make no periodic interest payments.

(g) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** |
| **Schedule of Futures Contracts** | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Description** | **Contracts Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | 189 | 09/19/2025 | $21191625 | $460026 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Note | 2 | 09/30/2025 | 218000 | 1774 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | 19 | 09/19/2025 | 2193906 | 95824 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | $557624 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | $– | $56984646 | $– | $56984646 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 20878118 | – | 20878118 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 17737045 | – | 17737045 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 12923771 | – | 12923771 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Loan Obligations | – | 9008361 | – | 9008361 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations | – | 5887305 | – | 5887305 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bonds | – | 1764550 | – | 1764550 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 2784744 | – | – | 2784744 |
| Total Investments | $2784744 | $125183796 | $– | $127968540 |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $557624 | $– | $– | $557624 |
| Total Other Financial Instruments | $557624 | $– | $– | $557624 |
| \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

---

| | | |
|:---|:---|:---|
| **Allocation of Portfolio Holdings as of June 30, 2025** | **Allocation of Portfolio Holdings as of June 30, 2025** | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (% of Net Assets) |  |  |
| Mortgage-Backed Securities | $56984646 | 44.0% |
| Asset-Backed Securities | 20878118 | 16.1 |
| U.S. Treasury Securities | 17737045 | 13.7 |
| Corporate Bonds | 12923771 | 10.0 |
| Collateralized Loan Obligations | 9008361 | 7.0 |
| Collateralized Mortgage Obligations | 5887305 | 4.5 |
| Convertible Bonds | 1764550 | 1.4 |
| Money Market Funds | 2784744 | 2.2 |
| Other Assets in Excess of Liabilities | 1430427 | 1.1 |
|  | $**129398967** | 100.0<br> **%** |

---

------

 The accompanying notes are an integral part of these financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EA Series Trust

- **b. Investment Company Act file number:** 811-22961

- **c. CIK number of Registrant:** 0001592900

- **d. LEI of Registrant:** 549300OFTR67XBWX5T25

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

  - **Street Address 1:** 3803 West Chester Pike

  - **City:** Newton Square

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19073

  - **Telephone number:** 215-882-9983

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

- **a. Name of Series:** Strive Total Return Bond ETF

- **b. EDGAR series identifier (if any):** S000080332

- **c. LEI of Series:** 5493000HCDUWNY21XQ62

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $130008255.32

**Total Liabilities:** $609225.08

**Net Assets:** $129399030.24

**Cash Not Reported:** $73138.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 52.726386966813 | **1-Year:** 3223.278484336331 | **5-Year:** 32456.487542697270 | **10-Year:** 40888.088150533320 | **30-Year:** 4102.764458877241

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

- **3-Month:** 0.000000000000 | **1-Year:** 56.711280917462 | **5-Year:** 128.402114558187 | **10-Year:** 150.844501266480 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000242670 | 0.75%                | -0.74%               | 1.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15419.90               | $312343.45                                 |
| Month 2  | $158791.57               | $-1230079.22                               |
| Month 3  | $34418.44                | $1426455.35                                |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** FT5FRPBMSD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BORGWARNER INC                 | BorgWarner Inc                                             | CUSIP: 099724AQ9<br>LEI: 549300DSFX2IE88NSX47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101191.84    | 0.08%             | 2034-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BROWN-FORMAN CORP              | Brown-Forman Corp                                          | CUSIP: 115637AT7<br>LEI: 549300873K3LXF7ARU34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87986.24     | 0.07%             | 2038-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP         | Bunge Ltd Finance Corp                                     | CUSIP: 120568BC3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    200000 | PA      | $181121.12    | 0.14%             | 2031-05-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE       | Burlington Northern Santa Fe LLC                           | CUSIP: 12189LBB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $82218.80     | 0.06%             | 2047-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                 | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99848.52     | 0.08%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                 | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206405.84    | 0.16%             | 2034-02-01      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| Carlyle C17 CLO                | Carlyle C17 CLO Ltd                                        | CUSIP: 14307PAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003592.00   | 0.78%             | 2031-04-30      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP            | Carrier Global Corp                                        | CUSIP: 14448CAR5<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $79424.44     | 0.06%             | 2040-04-05      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2023-P4                     | CUSIP: 14687NAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1062453.00   | 0.82%             | 2030-10-10      | Fixed         | 7.37%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2023-P5                     | CUSIP: 14687RAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1063416.10   | 0.82%             | 2030-12-10      | Fixed         | 7.18%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P2                     | CUSIP: 14688PAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $257286.28    | 0.20%             | 2031-06-10      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P3                     | CUSIP: 146919AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $499374.55    | 0.39%             | 2032-09-10      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS       | Cheniere Energy Partners LP                                | CUSIP: 16411QAS0<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102748.47    | 0.08%             | 2034-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD       | Cheniere Corpus Christi Holdings LLC                       | CUSIP: 16412XAL9<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $81436.77     | 0.06%             | 2039-12-31      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-4 Mortgage Loan Trust                            | CUSIP: 19685GAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    412617 | PA      | $397648.30    | 0.31%             | 2067-03-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                   | Comcast Corp                                               | CUSIP: 20030NAK7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $111158.39    | 0.09%             | 2035-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC             | Conagra Brands Inc                                         | CUSIP: 205887CD2<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95786.61     | 0.07%             | 2038-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC       | Constellation Brands Inc                                   | CUSIP: 21036PBP2<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99142.11     | 0.08%             | 2033-05-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES          | Continental Resources Inc/OK                               | CUSIP: 212015AT8<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101005.39    | 0.08%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust   | Veros Auto Receivables Trust 2024-1                        | CUSIP: 92512WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $514394.15    | 0.40%             | 2028-12-15      | Fixed         | 7.57%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                   | CUSIP: 92840VAS1<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103933.50    | 0.08%             | 2034-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                     | VMware LLC                                                 | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    100000 | PA      | $86830.25     | 0.07%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFA 2021-NQM2 Trust                                        | CUSIP: 55283WAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    362112 | PA      | $318434.71    | 0.25%             | 2064-11-25      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| MICROSTRATEGY INC              | MicroStrategy Inc                                          | CUSIP: 594972AT8<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1764549.57   | 1.36%             | 2030-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MOLSON COORS BEVERAGE          | Molson Coors Beverage Co                                   | CUSIP: 60871RAH3<br>LEI: 54930073LBBH6ZCBE225 | Long             | DBT              | CORP              | US        |    100000 | PA      | $79849.72     | 0.06%             | 2046-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                             | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    300000 | PA      | $308734.37    | 0.24%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| TYSON FOODS INC                | Tyson Foods Inc                                            | CUSIP: 902494AZ6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97505.88     | 0.08%             | 2034-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                   | UBS Group AG                                               | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $207818.63    | 0.16%             | 2035-02-08      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE          | United Parcel Service Inc                                  | CUSIP: 911312CE4<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97059.92     | 0.08%             | 2054-05-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM        | United Rentals North America Inc                           | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102493.50    | 0.08%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AT&T INC                       | AT&T Inc                                                   | CUSIP: 00206RFW7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95905.49     | 0.07%             | 2037-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2024-A                   | CUSIP: 00834BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $201895.50    | 0.16%             | 2029-02-15      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC       | Agilent Technologies Inc                                   | CUSIP: 00846UAR2<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98457.96     | 0.08%             | 2034-09-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC        | Aircastle Ltd / Aircastle Ireland DAC                      | CUSIP: 00929JAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    150000 | PA      | $151327.90    | 0.12%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                                        | CUSIP: 025816DW6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202555.97    | 0.16%             | 2035-07-26      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| American Heritage Auto Receiva | American Heritage Auto Receivables Trust 2024-1            | CUSIP: 026944AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $256311.58    | 0.20%             | 2033-01-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                                        | CUSIP: 03027XCD0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154800.08    | 0.12%             | 2033-07-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                                                  | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102437.31    | 0.08%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                  | Amphenol Corp                                              | CUSIP: 032095AQ4<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102965.36    | 0.08%             | 2034-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Anchorage Credit Funding Ltd.  | Anchorage Credit Funding 8 Ltd                             | CUSIP: 03331XAJ0<br>LEI: 549300XI0H54XLMCG667 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $373814.80    | 0.29%             | 2037-07-25      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| ARES LXVIII CLO Ltd            | Ares LXVIII CLO Ltd                                        | CUSIP: 039942AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $501606.00    | 0.39%             | 2035-04-25      | Floating      | 12.83%                | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                   | Ares LVII CLO Ltd                                          | CUSIP: 04017NAS1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1050000 | PA      | $1052925.30   | 0.81%             | 2035-01-25      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC          | Arrow Electronics Inc                                      | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103332.20    | 0.08%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC            | Ashtead Capital Inc                                        | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207276.25    | 0.16%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                   | CUSIP: 05377RGG3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $306676.05    | 0.24%             | 2029-04-20      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                   | CUSIP: 05377RKS2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1026285.60   | 0.79%             | 2031-08-20      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD       | Avolon Holdings Funding Ltd                                | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $102995.89    | 0.08%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                  | Ballyrock CLO 2019-1 Ltd                                   | CUSIP: 05875JAL3<br>LEI: 254900EJNL3EAF77OS82 | Long             | ABS-CBDO         | CORP              | KY        |   1200000 | PA      | $1201780.80   | 0.93%             | 2032-07-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                       | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    250000 | PA      | $211907.55    | 0.16%             | 2036-09-21      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                         | CUSIP: 226373AT5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104798.45    | 0.08%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC       | FHF Issuer Trust 2024-2                                    | CUSIP: 30336NAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    790000 | PA      | $810856.63    | 0.63%             | 2030-07-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC       | FHF Issuer Trust 2024-2                                    | CUSIP: 30336NAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $515393.40    | 0.40%             | 2031-09-15      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC       | FHF Issuer Trust 2024-3                                    | CUSIP: 30339EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501622.85    | 0.39%             | 2031-12-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DPFA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    360552 | PA      | $360563.78    | 0.28%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DPX52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    877648 | PA      | $860465.84    | 0.66%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DTM64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    607558 | PA      | $621153.12    | 0.48%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DUKC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    467448 | PA      | $458296.32    | 0.35%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DUY27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    985977 | PA      | $976534.34    | 0.75%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DWBB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1424582 | PA      | $1132032.61   | 0.87%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BARRICK INTL BARBADOS          | Barrick International Barbados Corp                        | CUSIP: 06849AAB5<br>LEI: 549300Q10KSESPW7OK85 | Long             | DBT              | CORP              | BB        |    100000 | PA      | $107554.15    | 0.08%             | 2036-10-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC       | Baxter International Inc                                   | CUSIP: 071813CS6<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87196.91     | 0.07%             | 2032-02-01      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Secur | BHG Securitization Trust 2024-1CON                         | CUSIP: 08862HAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $410843.04    | 0.32%             | 2035-04-17      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| BIO-RAD LABS                   | Bio-Rad Laboratories Inc                                   | CUSIP: 090572AQ1<br>LEI: 549300ZC1GPV35XYDK53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92001.87     | 0.07%             | 2032-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DWE58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1869815 | PA      | $1739500.11   | 1.34%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DWG72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    873285 | PA      | $835483.15    | 0.65%             | 2053-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY          | The Campbell's Company                                     | CUSIP: 134429BP3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101623.59    | 0.08%             | 2034-03-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133WAZG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2368552 | PA      | $2270465.48   | 1.75%             | 2054-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 31425V2B8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    907387 | PA      | $899264.21    | 0.69%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 31427MCR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    991052 | PA      | $974685.93    | 0.75%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2022-NQM1 Trust                                       | CUSIP: 69378KAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    264954 | PA      | $272508.54    | 0.21%             | 2067-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PULTEGROUP INC                 | PulteGroup Inc                                             | CUSIP: 745867AP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $107347.56    | 0.08%             | 2033-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Purchasing Power Funding       | Purchasing Power Funding 2024-A LLC                        | CUSIP: 745935AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202111.84    | 0.16%             | 2028-08-15      | Fixed         | 7.26%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management    | RCKT Mortgage Trust 2022-4                                 | CUSIP: 74938GAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    801296 | PA      | $702356.06    | 0.54%             | 2052-06-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC               | Radian Group Inc                                           | CUSIP: 750236AY7<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259889.86    | 0.20%             | 2029-05-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| RTX CORP                       | RTX Corp                                                   | CUSIP: 75513ECW9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    100000 | PA      | $108158.50    | 0.08%             | 2034-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trus | Republic Finance Issuance Trust 2024-A                     | CUSIP: 76041RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $256918.00    | 0.20%             | 2032-08-20      | Fixed         | 7.28%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC         | Roper Technologies Inc                                     | CUSIP: 776743AL0<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $85896.38     | 0.07%             | 2031-02-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC             | Royalty Pharma PLC                                         | CUSIP: 78081BAL7<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $75358.90     | 0.06%             | 2040-09-02      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2021-1                       | CUSIP: 784212AD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    744000 | PA      | $485751.65    | 0.38%             | 2061-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust    | SBNA Auto Receivables Trust 2024-A                         | CUSIP: 78437PAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $510631.40    | 0.39%             | 2030-04-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2023-FIG4          | CUSIP: 79581UAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    367151 | PA      | $379572.08    | 0.29%             | 2053-11-25      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2020-2                       | CUSIP: 81882JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    346657 | PA      | $319025.36    | 0.25%             | 2065-05-25      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| SHELF DRILL HOLD LTD           | Shelf Drilling Holdings Ltd                                | CUSIP: 822538AH7<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $80192.70     | 0.06%             | 2029-04-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRU | SoFi Consumer Loan Program 2025-1 Trust                    | CUSIP: 83406YAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1012256.90   | 0.78%             | 2034-02-27      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                                           | CUSIP: 87264ACY9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151079.21    | 0.12%             | 2033-07-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP           | Targa Resources Corp                                       | CUSIP: 87612GAF8<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107511.76    | 0.08%             | 2034-03-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Theorem Funding Trust          | Theorem Funding Trust 2022-2                               | CUSIP: 88339FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202618.76    | 0.16%             | 2028-12-15      | Fixed         | 9.27%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2024-4                           | CUSIP: 89183GAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1357300.50   | 1.05%             | 2064-10-27      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                   | Voya CLO 2016-1 Ltd                                        | CUSIP: 92915CAU8<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $753044.25    | 0.58%             | 2031-01-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management Inc                                       | CUSIP: 94106LBW8<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101421.21    | 0.08%             | 2034-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                           | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    300000 | PA      | $309721.51    | 0.24%             | 2034-07-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| Western Alliance Bank          | Western Alliance Bank                                      | CUSIP: 95763PNE7<br>LEI: SI7YQSVPFZBSQ878IC17 | Long             | ABS-MBS          | CORP              | US        |    436188 | PA      | $438567.67    | 0.34%             | 2059-07-25      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT       | Western Midstream Operating LP                             | CUSIP: 958667AE7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104126.94    | 0.08%             | 2033-04-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC         | Williams Cos Inc/The                                       | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103974.01    | 0.08%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS         | Zimmer Biomet Holdings Inc                                 | CUSIP: 98956PAV4<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    200000 | PA      | $176846.97    | 0.14%             | 2031-11-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DWHA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    915227 | PA      | $931988.30    | 0.72%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3132DWJ53<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1914362 | PA      | $1945832.25   | 1.50%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133BREB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    798016 | PA      | $787288.31    | 0.61%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133BS5B4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1383503 | PA      | $1287081.21   | 0.99%             | 2052-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133CQHA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1193524 | PA      | $1219485.60   | 0.94%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133CXCV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    452488 | PA      | $452785.51    | 0.35%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3138MTKQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    984295 | PA      | $984327.35    | 0.76%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140AGLE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    646146 | PA      | $650986.02    | 0.50%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140AXYF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    495098 | PA      | $505402.80    | 0.39%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140N12A0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1815451 | PA      | $1782179.60   | 1.38%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140QP2M8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2276495 | PA      | $2122818.03   | 1.64%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140W0SE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    991897 | PA      | $974958.37    | 0.75%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140XKHC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3215930 | PA      | $2791684.79   | 2.16%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140XLPS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    699660 | PA      | $715096.85    | 0.55%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140XMHM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1781926 | PA      | $1657736.43   | 1.28%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140XQK71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1022013 | PA      | $957810.91    | 0.74%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 3140XRJ97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    979916 | PA      | $981786.14    | 0.76%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418DZW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1393763 | PA      | $1164124.25   | 0.90%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418EP38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    832987 | PA      | $833014.75    | 0.64%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418EW30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    849628 | PA      | $849656.11    | 0.66%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP            | Fifth Third Bancorp                                        | CUSIP: 316773DL1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208194.58    | 0.16%             | 2032-01-29      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                    | FIGRE Trust 2024-HE1                                       | CUSIP: 31684HAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    735856 | PA      | $760726.68    | 0.59%             | 2054-03-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                 | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   3330518 | NS      | $3330517.50   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                     | Fiserv Inc                                                 | CUSIP: 337738BH0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104023.62    | 0.08%             | 2033-08-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                   | CUSIP: 345397E66<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97392.70     | 0.08%             | 2034-03-08      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                       | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311813.67    | 0.24%             | 2035-01-22      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC         | Philip Morris International Inc                            | CUSIP: 718172DJ5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102048.09    | 0.08%             | 2034-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                     | Phinia Inc                                                 | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103343.00    | 0.08%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE       | Plains All American Pipeline LP / PAA Finance Corp         | CUSIP: 72650RBP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102000.90    | 0.08%             | 2034-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179X2K1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    523102 | PA      | $513944.37    | 0.40%             | 2053-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179X2L9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    839431 | PA      | $840507.76    | 0.65%             | 2053-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179X2M7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    653962 | PA      | $663332.85    | 0.51%             | 2053-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179X5H5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1032385 | PA      | $1033709.24   | 0.80%             | 2053-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179X5J1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1034141 | PA      | $1051545.48   | 0.81%             | 2053-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XNJ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     99188 | PA      | $101829.93    | 0.08%             | 2052-12-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XQX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    724873 | PA      | $725802.53    | 0.56%             | 2053-01-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XTC0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    812245 | PA      | $798025.89    | 0.62%             | 2053-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XVS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    412082 | PA      | $404867.86    | 0.31%             | 2053-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XVT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    670789 | PA      | $671649.56    | 0.52%             | 2053-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XVU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    982946 | PA      | $997031.25    | 0.77%             | 2053-03-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XX50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    418401 | PA      | $411076.44    | 0.32%             | 2053-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179XX68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    841464 | PA      | $843595.08    | 0.65%             | 2053-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179YAT1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    338850 | PA      | $343705.64    | 0.27%             | 2053-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179YDJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1768862 | PA      | $1737895.99   | 1.34%             | 2053-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179YFF6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    165330 | PA      | $146877.53    | 0.11%             | 2053-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179YKS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    750632 | PA      | $751595.49    | 0.58%             | 2053-11-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179YS47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    955166 | PA      | $914863.89    | 0.71%             | 2054-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-MM1               | CUSIP: 36264JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1624748 | PA      | $1324005.54   | 1.02%             | 2052-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2023-PJ4               | CUSIP: 36270XAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    326060 | PA      | $329602.98    | 0.25%             | 2054-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| GREENFIRE RESOURCES LTD        | Greenfire Resources Ltd                                    | CUSIP: 39525UAA5<br>LEI: 254900MTS0G2VGMJW059 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $42278.76     | 0.03%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu | GreenSky Home Improvement Trust 2024-1                     | CUSIP: 39571MAH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $519530.60    | 0.40%             | 2059-06-25      | Fixed         | 7.33%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu | GreenSky Home Improvement Issuer Trust 2024-2              | CUSIP: 39571XAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1013406.40   | 0.78%             | 2059-10-27      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL           | IBM International Capital Pte Ltd                          | CUSIP: 449276AE4<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |    100000 | PA      | $99857.00     | 0.08%             | 2034-02-05      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd              | Jamestown CLO XI Ltd                                       | CUSIP: 47049QAC0<br>LEI: 549300ICXRO4NIJIWJ29 | Long             | ABS-CBDO         | CORP              | KY        |   1030000 | PA      | $1033491.70   | 0.80%             | 2031-07-14      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO       | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl | CUSIP: 47214BAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     93000 | PA      | $101582.97    | 0.08%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                  | J M Smucker Co/The                                         | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $214763.95    | 0.17%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund        | Dryden 64 CLO Ltd                                          | CUSIP: 26251LAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501848.50    | 0.39%             | 2031-04-18      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC             | Enact Holdings Inc                                         | CUSIP: 29249EAA7<br>LEI: 9845003CA5664B741N19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103818.26    | 0.08%             | 2029-05-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2021-2                  | CUSIP: 31572LAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    885000 | PA      | $606957.78    | 0.47%             | 2066-06-25      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-1                            | CUSIP: 46592EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    442656 | PA      | $360950.05    | 0.28%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                        | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    300000 | PA      | $326172.43    | 0.25%             | 2034-10-23      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC           | Keurig Dr Pepper Inc                                       | CUSIP: 49271VAV2<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204843.95    | 0.16%             | 2034-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                                          | CUSIP: 49456BBA8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98248.94     | 0.08%             | 2054-08-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO           | Kraft Heinz Foods Co                                       | CUSIP: 50076QAR7<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $110688.66    | 0.09%             | 2039-01-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| KROGER CO                      | Kroger Co/The                                              | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99346.77     | 0.08%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                           | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194336.20    | 0.15%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                 | Lowe's Cos Inc                                             | CUSIP: 548661EQ6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102094.03    | 0.08%             | 2033-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION           | M&T Bank Corp                                              | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197493.21    | 0.15%             | 2034-01-27      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD       | Macquarie Airfinance Holdings Ltd                          | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $105908.90    | 0.08%             | 2031-03-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2024-1                              | CUSIP: 57108VAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $514204.90    | 0.40%             | 2034-07-17      | Fixed         | 6.93%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2023-2                              | CUSIP: 57109LAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $310526.73    | 0.24%             | 2033-06-15      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| MARS INC                       | Mars Inc                                                   | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202496.08    | 0.16%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                     | MasTec Inc                                                 | CUSIP: 576323AP4<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98696.36     | 0.08%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP            | Meritage Homes Corp                                        | CUSIP: 59001ABG6<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150537.00    | 0.12%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                    | MetLife Inc                                                | CUSIP: 59156RAE8<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    100000 | PA      | $112317.62    | 0.09%             | 2032-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2024-2PL                                    | CUSIP: 00092HAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    376753 | PA      | $378029.84    | 0.29%             | 2031-10-27      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust  | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $135982.65    | 0.11%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC        | CRH America Finance Inc                                    | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205176.62    | 0.16%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CSX CORP                       | CSX Corp                                                   | CUSIP: 126408GK3<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    100000 | PA      | $108627.19    | 0.08%             | 2037-05-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC               | Crown Castle Inc                                           | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99646.07     | 0.08%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP        | Dell International LLC / EMC Corp                          | CUSIP: 24703DBL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $105110.29    | 0.08%             | 2033-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                        | MPLX LP                                                    | CUSIP: 55336VBV1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98660.11     | 0.08%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MSCI INC                       | MSCI Inc                                                   | CUSIP: 55354GAQ3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87701.39     | 0.07%             | 2033-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                      | Mosaic Co/The                                              | CUSIP: 61945CAE3<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95666.86     | 0.07%             | 2043-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                   | NMI Holdings Inc                                           | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102735.00    | 0.08%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP          | Northrop Grumman Corp                                      | CUSIP: 666807CM2<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93272.66     | 0.07%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                     | Nucor Corp                                                 | CUSIP: 670346BA2<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100358.43    | 0.08%             | 2035-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                    | Nutrien Ltd                                                | CUSIP: 67077MAW8<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $93142.17     | 0.07%             | 2030-05-13      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2021-NQM2 Trust                                        | CUSIP: 670857AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    568933 | PA      | $473087.90    | 0.37%             | 2061-05-25      | Variable      | 1.56%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2021-J2 Trust                                          | CUSIP: 670861AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1153065 | PA      | $932521.65    | 0.72%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc                                    | CUSIP: 67103HAL1<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149000.92    | 0.12%             | 2032-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO               | Ocean Trails CLO XIV Ltd                                   | CUSIP: 67515JAU9<br>LEI: 254900TWRKR5CRS1OX19 | Long             | ABS-CBDO         | CORP              | JE        |    580000 | PA      | $580747.04    | 0.45%             | 2038-01-20      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2024-RVM1                         | CUSIP: 67579FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $505113.35    | 0.39%             | 2046-01-22      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Octagon Investments Partners 3 | Octagon Investment Partners 36 Ltd                         | CUSIP: 67591UAJ6<br>LEI: 549300S890TBOLY1D042 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501532.00    | 0.39%             | 2031-04-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                  | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104971.80    | 0.08%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                                | CUSIP: 68389XBE4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $135397.05    | 0.10%             | 2035-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-1                        | CUSIP: 69544NAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    999915 | PA      | $1003525.01   | 0.78%             | 2032-07-15      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC | Sunnova Helios XII Issuer LLC                              | CUSIP: 86745YAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     86780 | PA      | $79304.58     | 0.06%             | 2050-08-22      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912810PX0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1012109.38   | 0.78%             | 2038-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912810QA9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1083890.63   | 0.84%             | 2039-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912810QK7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1104328.13   | 0.85%             | 2040-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912810SQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $615507.81    | 0.48%             | 2040-08-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1244062.50   | 0.96%             | 2040-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $835078.13    | 0.65%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 912828ZE3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $757937.50    | 0.59%             | 2027-03-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CCS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $855664.06    | 0.66%             | 2031-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1900000 | PA      | $1669439.45   | 1.29%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1208531.26   | 0.93%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $964296.88    | 0.75%             | 2033-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CGZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $987324.22    | 0.76%             | 2030-04-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $985078.12    | 0.76%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CHW4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1014648.44   | 0.78%             | 2030-08-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CHX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1019960.94   | 0.79%             | 2028-08-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1350000 | PA      | $1363289.06   | 1.05%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Sep25                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         2 | NC      | $1774.25      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 10YR NOTE (CBT)Sep25                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       189 | NC      | $460026.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US LONG BOND(CBT) Sep25                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        19 | NC      | $95824.13     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                           | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1015898.44   | 0.79%             | 2034-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Verdelite Static CLO Ltd       | Verdelite Static CLO 2024-1 Ltd                            | CUSIP: 92338VAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $500801.00    | 0.39%             | 2032-07-20      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications Inc                                 | CUSIP: 92343VCV4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    200000 | PA      | $184976.92    | 0.14%             | 2036-01-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133CYQ68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1982196 | PA      | $1987216.48   | 1.54%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133CYR26<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    490351 | PA      | $481670.99    | 0.37%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133CYR83<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    950053 | PA      | $932641.01    | 0.72%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 3133W8HU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    284242 | PA      | $290247.28    | 0.22%             | 2054-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    858389 | PA      | $858416.89    | 0.66%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418ER69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1304740 | PA      | $1248261.90   | 0.96%             | 2053-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418ES50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    908695 | PA      | $908724.80    | 0.70%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                            | CUSIP: 31418EVB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    314755 | PA      | $325978.64    | 0.25%             | 2053-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HESS CORP                      | Hess Corp                                                  | CUSIP: 023551AM6<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    100000 | PA      | $113430.03    | 0.09%             | 2033-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Freedom Financial              | FREED ABS Trust 2021-3FP                                   | CUSIP: 30322MAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45517 | PA      | $45324.36     | 0.04%             | 2028-11-20      | Fixed         | 2.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                           | CUSIP: 31427MZF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    989375 | PA      | $1009720.34   | 0.78%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2023-HQA2                    | CUSIP: 35564K2G3<br>LEI: 5493000KIGZAWUOW4E32 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $521436.50    | 0.40%             | 2043-06-25      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Freedom Financial              | FREED ABS Trust 2022-4FP                                   | CUSIP: 35634JAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    199923 | PA      | $201308.91    | 0.16%             | 2029-12-18      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC           | Freeport-McMoRan Inc                                       | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101626.30    | 0.08%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                  | CUSIP: 361448BS1<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101332.51    | 0.08%             | 2035-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GCAT                           | GCAT 2021-NQM4 Trust                                       | CUSIP: 36168HAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1073305 | PA      | $881966.93    | 0.68%             | 2066-08-25      | Variable      | 1.56%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD               | GGAM Finance Ltd                                           | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $103632.80    | 0.08%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                         | CUSIP: 36179X2J4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1321598 | PA      | $1265422.42   | 0.98%             | 2053-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC         | GE HealthCare Technologies Inc                             | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    150000 | PA      | $159524.10    | 0.12%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                            | CUSIP: 37045XEP7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102971.78    | 0.08%             | 2034-01-07      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC            | Global Payments Inc                                        | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153196.14    | 0.12%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GLS Auto Select Receivables Tr | GLS Auto Select Receivables Trust 2024-2                   | CUSIP: 379924AJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1032876.60   | 0.80%             | 2031-08-15      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    200000 | PA      | $180062.22    | 0.14%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd | Golub Capital Partners CLO 69M                             | CUSIP: 38179UAF5<br>LEI: 2549004WBNSFGOX1MY52 | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1003177.00   | 0.78%             | 2036-11-09      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr | GoodLeap Sustainable Home Solutions Trust 2022-1           | CUSIP: 38237JAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    126580 | PA      | $108110.50    | 0.08%             | 2049-01-20      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                    | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100908.68    | 0.08%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LLC                            | CUSIP: 42806MCG2<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $518068.95    | 0.40%             | 2030-03-25      | Fixed         | 7.51%                 | No            |                  2 | On Loan: No      |
| Helios Issuer VI, LLC          | SUNNOVA HELIOS II ISSUER LLC 2021-B                        | CUSIP: 86744TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     74814 | PA      | $62326.36     | 0.05%             | 2048-07-20      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-19

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer