# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0001752724-25-162438
**Filing Date:** 2025-6
**Character Count:** 110890
**Document Hash:** de5204aed0c8bac81f2eb3ee624ff18a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-162438.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-162438

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALUED ADVISERS TRUST
- **CENTRAL INDEX KEY:** 0001437249

**ORGANIZATION NAME:**
- **EIN:** 262762915

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22208
- **FILM NUMBER:** 251088995

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DR.
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DR.
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Regan Floating Rate MBS ETF (Series ID: S000084093)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000248358 | Regan Floating Rate MBS ETF | MBSF            |

## Nport-Ex

Regan

Floating

Rate

MBS

ETF

Schedule

of

Investments

April

30,

2025

(Unaudited)

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

92.33%

(a) Principal

Amount

Fair

Value

Fannie

Mae

REMIC,

Series

53,

Class

FY,

4.97%,

8/25/2032

$

43,271

$

43,217

Fannie

Mae

REMIC,

Series

68,

Class

FB,

4.97%,

10/25/2032

34,528

34,397

Fannie

Mae

REMIC,

Series

64,

Class

FS,

5.85%,

7/25/2033

40,328

40,979

Fannie

Mae

REMIC,

Series

69,

Class

NF,

5.95%,

7/25/2033

192,128

195,805

Fannie

Mae

REMIC,

Series

81,

Class

FE,

4.97%,

9/25/2033

56,066

55,918

Fannie

Mae

REMIC,

Series

38,

Class

FK,

4.82%,

5/25/2034

172,736

171,790

Fannie

Mae

REMIC,

Series

40,

Class

FY,

4.92%,

5/25/2034

914,674

910,694

Fannie

Mae

REMIC,

Series

25,

Class

PF,

4.82%,

4/25/2035

87,838

86,851

Fannie

Mae

REMIC,

Series

45,

Class

XA,

4.81%,

6/25/2035

238,595

236,529

Fannie

Mae

REMIC,

Series

106,

Class

PF,

4.82%,

12/25/2035

360,768

353,284

Fannie

Mae

REMIC,

Series

20,

Class

GF,

4.82%,

4/25/2036

83,301

82,659

Fannie

Mae

REMIC,

Series

45,

Class

FM,

4.87%,

6/25/2036

108,007

107,309

Fannie

Mae

REMIC,

Series

62,

Class

FP,

4.72%,

7/25/2036

348,034

345,751

Fannie

Mae

REMIC,

Series

101,

Class

FC,

4.77%,

7/25/2036

50,486

49,858

Fannie

Mae

REMIC,

Series

101,

Class

FD,

4.77%,

7/25/2036

34,213

33,757

Fannie

Mae

REMIC,

Series

81,

Class

FB,

4.82%,

9/25/2036

714,337

706,643

Fannie

Mae

REMIC,

Series

88,

Class

AF,

4.93%,

9/25/2036

110,133

109,077

Fannie

Mae

REMIC,

Series

86,

Class

CF,

5.67%,

9/25/2036

62,738

63,358

Fannie

Mae

REMIC,

Series

101,

Class

FA,

4.89%,

10/25/2036

849,431

840,358

Fannie

Mae

REMIC,

Series

104,

Class

FC,

4.72%,

11/25/2036

186,874

185,180

Fannie

Mae

REMIC,

Series

108,

Class

FB,

4.77%,

11/25/2036

411,059

408,781

Fannie

Mae

REMIC,

Series

104,

Class

FD,

4.83%,

11/25/2036

Fannie

Mae

REMIC,

Series

92,

Class

OF,

5.04%,

9/25/2037

108,731

107,943

Fannie

Mae

REMIC,

Series

102,

Class

FA,

5.04%,

11/25/2037

55,108

54,756

Fannie

Mae

REMIC,

Series

117,

Class

FM,

5.17%,

1/25/2038

165,336

164,200

Fannie

Mae

REMIC,

Series

117,

Class

MF,

5.17%,

1/25/2038

115,705

114,878

Fannie

Mae

REMIC,

Series

7,

Class

FA,

4.92%,

2/25/2038

222,084

221,527

Fannie

Mae

REMIC,

Series

24,

Class

PF,

5.12%,

2/25/2038

18,842

18,842

Fannie

Mae

REMIC,

Series

12,

Class

FA,

5.14%,

3/25/2038

63,017

62,880

Fannie

Mae

REMIC,

Series

16,

Class

KF,

5.27%,

3/25/2038

111,197

110,675

Fannie

Mae

REMIC,

Series

68,

Class

FC,

5.44%,

8/25/2038

884,788

892,148

Fannie

Mae

REMIC,

Series

46,

Class

FC,

5.17%,

6/25/2039

266,450

266,043

Fannie

Mae

REMIC,

Series

46,

Class

FA,

5.17%,

6/25/2039

283,589

283,078

Fannie

Mae

REMIC,

Series

72,

Class

JF,

5.22%,

9/25/2039

284,766

284,683

Fannie

Mae

REMIC,

Series

38,

Class

FC,

5.02%,

6/25/2040

848,879

846,251

Fannie

Mae

REMIC,

Series

58,

Class

FY,

5.20%,

6/25/2040

70,850

70,779

Fannie

Mae

REMIC,

Series

2010-141

FB,

4.94%,

12/25/2040

1,222,425

1,212,271

Fannie

Mae

REMIC,

Series

41,

Class

FK,

4.89%,

5/25/2041

202,211

200,862

Fannie

Mae

REMIC,

Series

55,

Class

FJ,

4.91%,

6/25/2041

583,639

579,963

Fannie

Mae

REMIC,

Series

118,

Class

FB,

4.92%,

11/25/2041

414,011

412,467

Fannie

Mae

REMIC,

Series

149,

Class

MF,

4.97%,

11/25/2041

49,090

48,932

Fannie

Mae

REMIC,

Series

19,

Class

JF,

5.02%,

3/25/2042

67,053

66,428

Fannie

Mae

REMIC,

Series

70,

Class

FA,

4.92%,

7/25/2042

853,173

841,968

Fannie

Mae

REMIC,

Series

116,

Class

FP,

4.72%,

10/25/2042

81,180

79,603

Fannie

Mae

REMIC,

Series

122,

Class

FM,

4.87%,

11/25/2042

1,221,876

1,197,309

Fannie

Mae

REMIC,

Series

10,

Class

FA,

4.82%,

2/25/2043

146,575

142,996

Regan

Floating

Rate

MBS

ETF

Schedule

of

Investments

(continued)

April

30,

2025

(Unaudited)

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

92.33%

-

continued

Principal

Amount

Fair

Value

Fannie

Mae

REMIC,

Series

10,

Class

FB,

4.82%,

2/25/2043

$

191,592

$

186,949

Fannie

Mae

REMIC,

Series

92,

Class

FA,

5.02%,

9/25/2043

304,163

299,463

Fannie

Mae

REMIC,

Series

118,

Class

FB,

4.99%,

12/25/2043

153,625

151,073

Fannie

Mae

REMIC,

Series

10,

Class

KF,

4.92%,

3/25/2044

165,760

163,140

Fannie

Mae

REMIC,

Series

79,

Class

FE,

4.72%,

11/25/2045

88,706

87,448

Fannie

Mae

REMIC,

Series

2,

Class

FB,

4.87%,

2/25/2046

143,699

142,184

Fannie

Mae

REMIC,

Series

10,

Class

FA,

4.82%,

3/25/2046

486,256

481,429

Fannie

Mae

REMIC,

Series

25,

Class

FL,

4.97%,

5/25/2046

1,218,360

1,196,862

Fannie

Mae

REMIC,

Series

81,

Class

FA,

4.82%,

11/25/2046

542,734

537,512

Fannie

Mae

REMIC,

Series

91,

Class

AF,

4.87%,

12/25/2046

56,731

56,119

Fannie

Mae

REMIC,

Series

106,

Class

EF,

4.97%,

1/25/2047

1,951,466

1,914,123

Fannie

Mae

REMIC,

Series

79,

Class

FB,

4.72%,

10/25/2047

652,874

650,176

Fannie

Mae

REMIC,

Series

42,

Class

FD,

4.72%,

6/25/2048

463,303

452,466

Fannie

Mae

REMIC,

Series

36,

Class

FD,

4.72%,

6/25/2048

133,773

131,950

Fannie

Mae

REMIC,

Series

15,

Class

FA,

4.97%,

4/25/2049

272,310

265,322

Fannie

Mae

REMIC,

Series

38,

Class

FA,

4.92%,

7/25/2049

5,304,082

5,154,173

Fannie

Mae

REMIC,

Series

33,

Class

FB,

4.92%,

7/25/2049

294,602

286,452

Fannie

Mae

REMIC,

Series

38,

Class

CF,

4.92%,

7/25/2049

1,249,574

1,217,333

Fannie

Mae

REMIC,

Series

43,

Class

FD,

4.87%,

8/25/2049

669,982

655,340

Fannie

Mae

REMIC,

4.92%,

10/25/2049

1,035,157

1,014,159

Fannie

Mae

REMIC,

Series

67,

Class

FB,

4.92%,

11/25/2049

186,409

182,594

Fannie

Mae

REMIC,

Series

61,

Class

AF,

4.97%,

11/25/2049

4,850,152

4,739,524

Fannie

Mae

REMIC,

Series

81,

Class

QF,

4.97%,

12/25/2049

2,236,245

2,176,218

Fannie

Mae

REMIC,

Series

76,

Class

FA,

4.97%,

12/25/2049

128,037

124,448

Fannie

Mae

REMIC,

Series

37,

Class

FH,

4.87%,

1/25/2050

800,309

784,239

Fannie

Mae

REMIC,

Series

81,

Class

FJ,

4.97%,

1/25/2050

1,377,643

1,339,206

Fannie

Mae

REMIC,

Series

79,

Class

FA,

4.97%,

1/25/2050

471,715

459,076

Fannie

Mae

REMIC,

Series

12,

Class

FL,

4.92%,

3/25/2050

727,284

702,810

Fannie

Mae

REMIC,

Series

10,

Class

FE,

4.97%,

3/25/2050

5,998,720

5,833,998

Fannie

Mae

REMIC,

Series

36,

Class

FH,

4.92%,

6/25/2050

2,196,873

2,115,159

Fannie

Mae

REMIC,

Series

54,

Class

WF,

4.28%,

8/25/2050

436,798

424,673

Fannie

Mae

REMIC,

Series

37,

Class

FG,

4.77%,

8/25/2050

311,122

302,794

Fannie

Mae

REMIC,

Series

41,

Class

GF,

4.97%,

3/25/2053

4,179,849

4,142,780

Fannie

Mae

REMIC,

Series

4,

Class

FB,

5.00%,

3/25/2053

1,683,128

1,660,748

Fannie

Mae

REMIC,

Series

40,

Class

FA,

5.50%,

3/25/2054

613,807

609,182

Fannie

Mae

REMIC,

Series

96,

Class

FB,

5.75%,

12/25/2054

1,502,030

1,495,969

Fannie

Mae

REMIC,

Series

104,

Class

FA,

5.40%,

1/25/2055

96,330

95,965

Fannie

Mae

REMIC,

Series

103,

Class

FH,

5.60%,

1/25/2055

982,276

978,276

Fannie

Mae

REMIC,

Series

10,

Class

FB,

5.20%,

2/25/2055

191,934

187,559

Fannie

Mae

REMIC,

Series

41,

Class

FG,

4.97%,

8/25/2059

728,458

713,097

Freddie

Mac

REMIC,

Series

2481,

Class

FE,

5.46%,

3/15/2032

47,607

48,027

Freddie

Mac

REMIC,

Series

3969,

Class

AF,

4.91%,

10/15/2033

754,295

750,097

Freddie

Mac

REMIC,

Series

2733,

Class

FB,

5.06%,

10/15/2033

42,875

42,940

Freddie

Mac

REMIC,

Series

3305,

Class

BF,

4.78%,

7/15/2034

278,149

274,880

Freddie

Mac

REMIC,

Series

3067,

Class

FA,

4.81%,

11/15/2035

811,840

802,574

Freddie

Mac

REMIC,

Series

3153,

Class

FX,

4.81%,

5/15/2036

121,615

120,739

Freddie

Mac

REMIC,

Series

3155,

Class

PF,

4.81%,

5/15/2036

761,326

753,644

Regan

Floating

Rate

MBS

ETF

Schedule

of

Investments

(continued)

April

30,

2025

(Unaudited)

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

92.33%

-

continued

Principal

Amount

Fair

Value

Freddie

Mac

REMIC,

Series

3153,

Class

EF,

4.87%,

5/15/2036

$

106,093

$

105,488

Freddie

Mac

REMIC,

Series

3222,

Class

KF,

4.86%,

9/15/2036

206,804

204,537

Freddie

Mac

REMIC,

Series

3210,

Class

FA,

4.86%,

9/15/2036

299,913

296,523

Freddie

Mac

REMIC,

Series

3361,

Class

AF,

4.81%,

11/15/2036

55,239

54,797

Freddie

Mac

REMIC,

Series

3281,

Class

AF,

4.78%,

2/15/2037

157,495

155,884

Freddie

Mac

REMIC,

Series

3284,

Class

CF,

4.83%,

3/15/2037

232,912

230,510

Freddie

Mac

REMIC,

Series

3309,

Class

FG,

4.89%,

4/15/2037

92,485

91,662

Freddie

Mac

REMIC,

Series

3318,

Class

F,

4.71%,

5/15/2037

14,665

14,501

Freddie

Mac

REMIC,

Series

3361,

Class

LF,

5.01%,

8/15/2037

167,141

166,618

Freddie

Mac

REMIC,

Series

4276,

Class

FA,

4.96%,

9/15/2037

287,983

285,751

Freddie

Mac

REMIC,

Series

3371,

Class

FA,

5.06%,

9/15/2037

83,546

83,396

Freddie

Mac

REMIC,

Series

4832,

Class

FW,

4.82%,

4/15/2038

555,919

548,421

Freddie

Mac

REMIC,

Series

3455,

Class

FG,

5.36%,

6/15/2038

815,259

819,433

Freddie

Mac

REMIC,

Series

5335,

Class

FB,

5.16%,

10/15/2039

168,877

169,097

Freddie

Mac

REMIC,

Series

3639,

Class

FC,

5.21%,

2/15/2040

153,003

153,371

Freddie

Mac

REMIC,

Series

3666,

Class

FC,

5.19%,

5/15/2040

149,130

148,485

Freddie

Mac

REMIC,

Series

3740,

Class

DF,

4.94%,

10/15/2040

96,613

95,315

Freddie

Mac

REMIC,

Series

3759,

Class

FB,

4.96%,

11/15/2040

281,086

277,359

Freddie

Mac

REMIC,

Series

3997,

Class

FJ,

4.91%,

1/15/2041

233,098

230,380

Freddie

Mac

REMIC,

Series

3843,

Class

FE,

5.01%,

4/15/2041

223,588

222,204

Freddie

Mac

REMIC,

Series

4105,

Class

LF,

4.81%,

8/15/2041

340,821

339,531

Freddie

Mac

REMIC,

Series

3930,

Class

KF,

4.96%,

9/15/2041

3,012,882

2,985,187

Freddie

Mac

REMIC,

Series

4068,

Class

UF,

4.96%,

6/15/2042

393,158

386,734

Freddie

Mac

REMIC,

Series

4105,

Class

NF,

4.86%,

9/15/2042

857,632

839,600

Freddie

Mac

REMIC,

Series

4116,

Class

LF,

4.76%,

10/15/2042

1,570,350

1,532,763

Freddie

Mac

REMIC,

Series

4122,

Class

FP,

4.86%,

10/15/2042

244,261

239,556

Freddie

Mac

REMIC,

Series

5031,

Class

FA,

4.65%,

8/15/2043

1,962,195

1,897,480

Freddie

Mac

REMIC,

Series

4240,

Class

FA,

4.96%,

8/15/2043

608,500

597,595

Freddie

Mac

REMIC,

Series

4255,

Class

GF,

4.81%,

9/15/2043

67,461

66,288

Freddie

Mac

REMIC,

Series

4286,

Class

VF,

4.91%,

12/15/2043

121,645

119,535

Freddie

Mac

REMIC,

Series

4281,

Class

LF,

4.96%,

12/15/2043

1,625,411

1,600,745

Freddie

Mac

REMIC,

Series

4310,

Class

FA,

5.01%,

2/15/2044

90,406

89,076

Freddie

Mac

REMIC,

Series

4383,

Class

KF,

4.86%,

9/15/2044

6,241,055

6,101,216

Freddie

Mac

REMIC,

Series

4431,

Class

FT,

4.86%,

1/15/2045

4,836,335

4,731,971

Freddie

Mac

REMIC,

Series

4587,

Class

AF,

4.81%,

6/15/2046

73,931

73,341

Freddie

Mac

REMIC,

Series

4614,

Class

FK,

4.96%,

9/15/2046

2,786,167

2,734,051

Freddie

Mac

REMIC,

Series

4945,

Class

F,

4.97%,

12/15/2046

517,866

511,255

Freddie

Mac

REMIC,

Series

4792,

Class

FA,

4.76%,

5/15/2048

979,730

943,855

Freddie

Mac

REMIC,

Series

5383,

Class

AF,

5.35%,

8/15/2048

299,836

302,130

Freddie

Mac

REMIC,

Series

4826,

Class

KF,

4.76%,

9/15/2048

49,680

48,375

Freddie

Mac

REMIC,

Series

4852,

Class

BF,

4.86%,

12/15/2048

632,239

612,231

Freddie

Mac

REMIC,

Series

4913,

Class

UF,

4.91%,

3/15/2049

1,474,923

1,427,805

Freddie

Mac

REMIC,

Series

4863,

Class

F,

4.91%,

3/15/2049

167,586

162,792

Freddie

Mac

REMIC,

Series

4882,

Class

FA,

4.91%,

5/15/2049

4,254,001

4,136,867

Freddie

Mac

REMIC,

Series

4903,

Class

NF,

4.87%,

8/25/2049

403,836

395,453

Freddie

Mac

REMIC,

Series

4918,

Class

F,

4.92%,

10/25/2049

1,938,811

1,886,465

Freddie

Mac

REMIC,

Series

4940,

Class

FE,

5.02%,

1/25/2050

275,549

267,900

Regan

Floating

Rate

MBS

ETF

Schedule

of

Investments

(continued)

April

30,

2025

(Unaudited)

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

92.33%

-

continued

Principal

Amount

Fair

Value

Freddie

Mac

REMIC,

Series

4959,

Class

JF,

4.92%,

3/25/2050

$

657,274

$

638,530

Freddie

Mac

REMIC,

Series

4990,

Class

FN,

4.82%,

5/25/2050

641,757

615,712

Freddie

Mac

REMIC,

Series

4981,

Class

JF,

4.87%,

6/25/2050

1,181,292

1,145,105

Freddie

Mac

REMIC,

Series

5119,

Class

QF,

4.55%,

6/25/2051

663,224

619,048

Freddie

Mac

REMIC,

Series

5270,

Class

FH,

5.30%,

6/25/2052

783,651

772,185

Freddie

Mac

REMIC,

Series

5396,

Class

HF,

5.30%,

4/25/2054

245,911

247,059

Freddie

Mac

REMIC,

Series

4347,

Class

EF,

4.96%,

6/15/2054

2,915,626

2,858,650

Freddie

Mac

REMIC,

Series

5469,

Class

F,

5.45%,

9/25/2054

473,558

468,581

Freddie

Mac

REMIC,

Series

5475,

Class

FA,

5.45%,

11/25/2054

228,521

226,382

Freddie

Mac

REMIC,

Series

5482,

Class

FC,

5.65%,

12/25/2054

504,789

503,265

Freddie

Mac

REMIC,

Series

5483,

Class

FD,

5.65%,

12/25/2054

402,231

400,690

Freddie

Mac

Strips,

Series

240,

Class

F22,

4.81%,

7/15/2036

132,165

130,804

Freddie

Mac

Strips,

Series

264,

Class

F1,

5.01%,

7/15/2042

103,374

101,890

Freddie

Mac

Strips,

Series

271,

Class

F5,

4.96%,

8/15/2042

212,972

209,399

Freddie

Mac

Strips,

Series

272,

Class

F1,

4.96%,

8/15/2042

83,829

82,426

Freddie

Mac

Strips,

Series

280,

Class

F1,

4.96%,

9/15/2042

337,383

331,710

Freddie

Mac

Strips,

Series

359,

Class

F3,

4.91%,

10/15/2047

1,709,764

1,677,100

Freddie

Mac

Strips,

Series

406,

Class

F4,

5.25%,

10/25/2053

751,610

749,319

Government

National

Mortgage

Association,

Series

32,

Class

FT,

4.73%,

1/20/2034

388,412

388,041

Government

National

Mortgage

Association,

Series

46,

Class

MF,

4.84%,

5/16/2034

70,820

70,813

Government

National

Mortgage

Association,

Series

70,

Class

FH,

4.83%,

7/20/2034

536,183

534,924

Government

National

Mortgage

Association,

Series

84,

Class

F,

4.69%,

11/16/2035

86,412

85,581

Government

National

Mortgage

Association,

Series

78,

Class

FA,

4.91%,

12/16/2037

892,204

888,877

Government

National

Mortgage

Association,

Series

79,

Class

FA,

4.88%,

12/20/2037

1,419,965

1,419,207

Government

National

Mortgage

Association,

Series

3,

Class

FA,

4.88%,

1/20/2038

1,178,756

1,175,823

Government

National

Mortgage

Association,

Series

51,

Class

FH,

5.19%,

6/16/2038

110,076

110,333

Government

National

Mortgage

Association,

Series

51,

Class

FG,

5.21%,

6/16/2038

63,821

63,997

Government

National

Mortgage

Association,

Series

66,

Class

FN,

5.38%,

8/20/2038

150,456

150,908

Government

National

Mortgage

Association,

Series

29,

Class

FL,

5.09%,

5/16/2039

381,699

381,820

Government

National

Mortgage

Association,

Series

19,

Class

FD,

4.89%,

7/16/2039

1,118

1,118

Government

National

Mortgage

Association,

Series

66,

Class

UF,

5.44%,

8/16/2039

98,155

98,973

Government

National

Mortgage

Association,

Series

149,

Class

MF,

4.83%,

12/20/2039

1,527,047

1,508,566

Regan

Floating

Rate

MBS

ETF

Schedule

of

Investments

(continued)

April

30,

2025

(Unaudited)

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

92.33%

-

continued

Principal

Amount

Fair

Value

Government

National

Mortgage

Association,

Series

20,

Class

FD,

5.25%,

2/20/2040

$

185,305

$

185,418

Government

National

Mortgage

Association,

Series

31,

Class

FV,

5.18%,

3/20/2040

181,692

181,094

Government

National

Mortgage

Association,

Series

153,

Class

LF,

4.69%,

7/16/2041

233,733

229,989

Government

National

Mortgage

Association,

Series

135,

Class

FN,

4.84%,

10/16/2041

1,929,559

1,899,494

Government

National

Mortgage

Association,

Series

113,

Class

QF,

4.73%,

2/20/2042

196,033

193,980

Government

National

Mortgage

Association,

Series

74,

Class

LF,

4.83%,

6/20/2042

1,167,316

1,145,308

Government

National

Mortgage

Association,

Series

5,

Class

FA,

4.88%,

1/20/2044

2,319,524

2,282,052

Government

National

Mortgage

Association,

Series

110,

Class

DF,

4.65%,

8/20/2045

338,703

328,861

Government

National

Mortgage

Association,

Series

161,

Class

GF,

4.73%,

11/20/2045

59,983

58,417

Government

National

Mortgage

Association,

Series

161,

Class

AF,

4.73%,

11/20/2045

559,086

543,918

Government

National

Mortgage

Association,

Series

33,

Class

UF,

4.88%,

3/20/2046

3,223,278

3,161,161

Government

National

Mortgage

Association,

Series

49,

Class

MF,

4.93%,

4/20/2046

1,021,220

1,008,632

Government

National

Mortgage

Association,

Series

83,

Class

NF,

4.84%,

6/20/2046

992,793

968,976

Government

National

Mortgage

Association,

Series

1,

Class

EF,

4.74%,

1/20/2048

1,045,674

1,010,944

Government

National

Mortgage

Association,

Series

138,

Class

FB,

4.73%,

10/20/2048

1,905,165

1,841,941

Government

National

Mortgage

Association,

Series

31,

Class

GF,

4.88%,

3/20/2049

357,642

351,278

Government

National

Mortgage

Association,

Series

33,

Class

F,

4.88%,

3/20/2049

136,569

133,305

Government

National

Mortgage

Association,

Series

35,

Class

GF,

4.88%,

3/20/2049

1,296,867

1,273,582

Government

National

Mortgage

Association,

Series

98,

Class

KF,

4.88%,

8/20/2049

3,406,498

3,310,780

Government

National

Mortgage

Association,

Series

30,

Class

FE,

4.88%,

3/20/2050

2,071,083

2,020,631

Government

National

Mortgage

Association,

Series

154,

Class

FC,

4.90%,

9/20/2052

1,466,884

1,424,712

Government

National

Mortgage

Association,

Series

197,

Class

LF,

5.05%,

11/20/2052

460,099

453,166

Government

National

Mortgage

Association,

Series

111,

Class

FD,

5.35%,

8/20/2053

173,165

172,494

Regan

Floating

Rate

MBS

ETF

Schedule

of

Investments

(continued)

April

30,

2025

(Unaudited)

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

92.33%

-

continued

Principal

Amount

Fair

Value

Government

National

Mortgage

Association,

Series

111,

Class

FN,

5.55%,

8/20/2053

$

123,842

$

124,128

Government

National

Mortgage

Association,

Series

128,

Class

CF,

5.55%,

8/20/2053

128,761

129,019

Government

National

Mortgage

Association,

Series

51,

Class

FL,

5.25%,

3/20/2054

113,590

113,173

Government

National

Mortgage

Association,

Series

64,

Class

YX,

5.44%,

4/20/2054

494,959

495,853

Government

National

Mortgage

Association,

Series

97,

Class

CF,

5.50%,

6/20/2054

221,044

220,524

Government

National

Mortgage

Association,

Series

2011-H06,

Class

FA,

4.89%,

2/20/2061

203,075

203,116

Total

Collateralized

Mortgage

Obligations

(Cost $143,584,765)

143,755,020

U.S.

GOVERNMENT

&

AGENCIES

—

7.06%

(a) United

States

Treasury

Bill,

4.18 %

,

8/28/2025

1,000,000

986,265

United

States

Treasury

Floating

Rate

Note,

4.42 %

,

4/30/2026

8,000,000

8,001,938

United

States

Treasury

Floating

Rate

Note,

4.45 %

,

7/31/2026

2,000,000

2,001,016

Total

U.S.

Government

&

Agencies

(Cost $10,984,848)

10,989,219

Total

Investments

—

99.39%

(Cost

$154,569,613)

154,744,239

Other

Assets

in

Excess

of

Liabilities — 0.61%

943,574

NET

ASSETS

—

100.00%

$

155,687,813

(a) Floating

rate

security.

The

rate

shown

is

the

effective

interest

rate

as

of

April

30,

2025. REMIC

-

Real

Estate

Mortgage

Investment

Conduit

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Valued Advisers Trust

- **b. Investment Company Act file number:** 811-22208

- **c. CIK number of Registrant:** 0001437249

- **d. LEI of Registrant:** 549300W12YUPFS7QVT86

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

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** REGAN FLOATING RATE MBS ETF

- **b. EDGAR series identifier (if any):** S000084093

- **c. LEI of Series:** 529900Y3DX75IOWM0D49

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $155693124.16

**Total Liabilities:** $5311.40

**Net Assets:** $155687812.76

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.24050832 | **1-Year:** 3273.17761274 | **5-Year:** 39499.58017962 | **10-Year:** 27757.94617716 | **30-Year:** 10.13557277

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248358 | 0.58%                | 0.19%                | 0.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $22202.02                | $362141.14                                 |
| Month 2  | $27406.15                | $-377694.06                                |
| Month 3  | $32710.97                | $-247450.04                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 07/15/2034                        | CUSIP: 31397GSV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    278149 | PA      | $274879.76    | 0.18%             | 2034-07-15      | Floating      | 4.78%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2041                         | CUSIP: 31397UGE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    583639 | PA      | $579963.14    | 0.37%             | 2041-06-25      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2036                         | CUSIP: 31395N5Z6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    348034 | PA      | $345750.84    | 0.22%             | 2036-07-25      | Floating      | 4.72%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 06/16/2038  | CUSIP: 38375QV97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     63821 | PA      | $63996.69     | 0.04%             | 2038-06-16      | Floating      | 5.21%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2050                         | CUSIP: 3136B8D30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    727284 | PA      | $702810.32    | 0.45%             | 2050-03-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2039                         | CUSIP: 31396QN21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    284766 | PA      | $284682.66    | 0.18%             | 2039-09-25      | Floating      | 5.22%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 11/16/2035  | CUSIP: 38374MEN5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     86412 | PA      | $85581.10     | 0.05%             | 2035-11-16      | Floating      | 4.69%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 04/20/2046  | CUSIP: 38379WFQ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1021220 | PA      | $1008632.28   | 0.65%             | 2046-04-20      | Floating      | 4.93%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2037                         | CUSIP: 31396XK94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     55108 | PA      | $54755.69     | 0.04%             | 2037-11-25      | Floating      | 5.04%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2042                         | CUSIP: 3136A7EC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    853173 | PA      | $841968.32    | 0.54%             | 2042-07-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 06/15/2046                        | CUSIP: 3137BPXH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     73931 | PA      | $73341.33     | 0.05%             | 2046-06-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 02/20/2061  | CUSIP: 38375BKL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    203075 | PA      | $203115.94    | 0.13%             | 2061-02-20      | Variable      | 4.89%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 12/20/2039  | CUSIP: 38378UKX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1527047 | PA      | $1508566.38   | 0.97%             | 2039-12-20      | Floating      | 4.83%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 03/15/2049                        | CUSIP: 3137FL2W3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    167586 | PA      | $162792.10    | 0.10%             | 2049-03-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2044                         | CUSIP: 3136AJEU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    165760 | PA      | $163139.89    | 0.10%             | 2044-03-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 07/16/2039  | CUSIP: 38376V2F3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |      1118 | PA      | $1118.40      | 0.00%             | 2039-07-16      | Floating      | 4.89%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2041                         | CUSIP: 3136A3FE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     49090 | PA      | $48931.73     | 0.03%             | 2041-11-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 09/25/2054                        | CUSIP: 3137HHH53<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    473558 | PA      | $468580.81    | 0.30%             | 2054-09-25      | Floating      | 5.45%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 10/15/2033                        | CUSIP: 3137AJZT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    754295 | PA      | $750097.04    | 0.48%             | 2033-10-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 04/25/2036                         | CUSIP: 31395BU43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     83301 | PA      | $82658.99     | 0.05%             | 2036-04-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 11/25/2054                        | CUSIP: 3137HHDE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    228521 | PA      | $226381.76    | 0.15%             | 2054-11-25      | Floating      | 5.45%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 06/16/2038  | CUSIP: 38375QW21<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    110076 | PA      | $110333.09    | 0.07%             | 2038-06-16      | Floating      | 5.19%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 10/25/2047                         | CUSIP: 3136AYHK2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    652874 | PA      | $650176.46    | 0.42%             | 2047-10-25      | Floating      | 4.72%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 02/25/2038                         | CUSIP: 31397LAH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     18842 | PA      | $18841.80     | 0.01%             | 2038-02-25      | Floating      | 5.12%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 05/25/2034                         | CUSIP: 31393YBS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    172736 | PA      | $171789.62    | 0.11%             | 2034-05-25      | Floating      | 4.82%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2037                        | CUSIP: 31397HDF2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     14665 | PA      | $14501.41     | 0.01%             | 2037-05-15      | Floating      | 4.71%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2048                        | CUSIP: 3137FH4G5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     49680 | PA      | $48374.93     | 0.03%             | 2048-09-15      | Floating      | 4.76%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2050                         | CUSIP: 3136B8GL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1377643 | PA      | $1339205.94   | 0.86%             | 2050-01-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 02/25/2043                         | CUSIP: 3136ACCA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    191592 | PA      | $186949.14    | 0.12%             | 2043-02-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 07/20/2034  | CUSIP: 38374JBE5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    536183 | PA      | $534924.04    | 0.34%             | 2034-07-20      | Floating      | 4.83%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2037                        | CUSIP: 31397KNW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     83546 | PA      | $83396.22     | 0.05%             | 2037-09-15      | Floating      | 5.06%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2039                         | CUSIP: 31397NM93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    283589 | PA      | $283077.97    | 0.18%             | 2039-06-25      | Floating      | 5.17%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2053                         | CUSIP: 3136BPB34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1683128 | PA      | $1660747.62   | 1.07%             | 2053-03-25      | Floating      | 5.00%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 11/20/2045  | CUSIP: 38379FUB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     59983 | PA      | $58416.98     | 0.04%             | 2045-11-20      | Floating      | 4.73%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 11/15/2040                        | CUSIP: 3137A2SY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    281086 | PA      | $277359.19    | 0.18%             | 2040-11-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 08/15/2043                        | CUSIP: 3137FXFK9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1962195 | PA      | $1897480.47   | 1.22%             | 2043-08-15      | Floating      | 4.64%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 03/15/2032                        | CUSIP: 31392TSB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     47607 | PA      | $48026.74     | 0.03%             | 2032-03-15      | Floating      | 5.46%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 01/15/2045                        | CUSIP: 3137BFXK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   4836335 | PA      | $4731971.23   | 3.04%             | 2045-01-15      | Floating      | 4.86%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 12/20/2037  | CUSIP: 383742AA1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1419965 | PA      | $1419206.73   | 0.91%             | 2037-12-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2036                         | CUSIP: 31396LLR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |       144 | PA      | $142.73       | 0.00%             | 2036-11-25      | Floating      | 4.83%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2036                         | CUSIP: 31396LHX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     34213 | PA      | $33757.46     | 0.02%             | 2036-07-25      | Floating      | 4.77%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 08/25/2038                         | CUSIP: 31397MKX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    884788 | PA      | $892148.38    | 0.57%             | 2038-08-25      | Floating      | 5.44%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2036                         | CUSIP: 31396LLP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    186874 | PA      | $185179.83    | 0.12%             | 2036-11-25      | Floating      | 4.72%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2042                         | CUSIP: 3136A95L8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1221876 | PA      | $1197309.36   | 0.77%             | 2042-11-25      | Floating      | 4.87%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 10/15/2033                        | CUSIP: 31394NT81<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     42875 | PA      | $42940.01     | 0.03%             | 2033-10-15      | Floating      | 5.06%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 08/25/2050                         | CUSIP: 3136BQDY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    311122 | PA      | $302794.04    | 0.19%             | 2050-08-25      | Floating      | 4.77%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2049                         | CUSIP: 3136B7AM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   4850152 | PA      | $4739524.09   | 3.04%             | 2049-11-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 08/25/2049                         | CUSIP: 3136B5ZG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    669982 | PA      | $655340.04    | 0.42%             | 2049-08-25      | Floating      | 4.87%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 06/25/2050                        | CUSIP: 3137FTVA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1181292 | PA      | $1145105.45   | 0.74%             | 2050-06-25      | Floating      | 4.87%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 04/25/2054                        | CUSIP: 3137HC4W9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    245911 | PA      | $247059.09    | 0.16%             | 2054-04-25      | Floating      | 5.30%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 10/25/2049                         | CUSIP: 3136B6QH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1035157 | PA      | $1014158.53   | 0.65%             | 2049-10-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 08/25/2049                        | CUSIP: 3137FN5F3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    403836 | PA      | $395452.80    | 0.25%             | 2049-08-25      | Floating      | 4.87%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/20/2053  | CUSIP: 38384CLD9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    123842 | PA      | $124128.36    | 0.08%             | 2053-08-20      | Floating      | 5.55%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 10/15/2042                        | CUSIP: 3137AUZ28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    244261 | PA      | $239555.80    | 0.15%             | 2042-10-15      | Floating      | 4.86%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2033                         | CUSIP: 31393DHB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    192128 | PA      | $195805.03    | 0.13%             | 2033-07-25      | Floating      | 5.95%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2042                         | CUSIP: 3136A4NT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     67053 | PA      | $66427.81     | 0.04%             | 2042-03-25      | Floating      | 5.02%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2036                        | CUSIP: 31396RPG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    121615 | PA      | $120738.95    | 0.08%             | 2036-05-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 04/15/2037                        | CUSIP: 31397GEG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     92485 | PA      | $91661.94     | 0.06%             | 2037-04-15      | Floating      | 4.89%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/20/2038  | CUSIP: 38375XM50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    150456 | PA      | $150908.17    | 0.10%             | 2038-08-20      | Floating      | 5.38%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 12/15/2043                        | CUSIP: 3137B6PA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1625411 | PA      | $1600745.44   | 1.03%             | 2043-12-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 08/25/2050                         | CUSIP: 3136BBGN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    436798 | PA      | $424672.97    | 0.27%             | 2050-08-25      | Variable      | 4.28%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 06/25/2052                        | CUSIP: 3137H9E54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    783651 | PA      | $772185.06    | 0.50%             | 2052-06-25      | Floating      | 5.30%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2041                        | CUSIP: 3137AFBC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3012882 | PA      | $2985185.67   | 1.92%             | 2041-09-15      | Floating      | 4.96%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2041                         | CUSIP: 3136A13S2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    414011 | PA      | $412466.82    | 0.26%             | 2041-11-25      | Floating      | 4.92%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2049  | CUSIP: 38381RXE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    357642 | PA      | $351277.88    | 0.23%             | 2049-03-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 04/20/2054  | CUSIP: 38384MZC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    494959 | PA      | $495853.09    | 0.32%             | 2054-04-20      | Floating      | 5.44%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 04/25/2035                         | CUSIP: 31394DAA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     87838 | PA      | $86851.45     | 0.06%             | 2035-04-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 12/25/2054                        | CUSIP: 3137HHNF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    402231 | PA      | $400689.86    | 0.26%             | 2054-12-25      | Floating      | 5.65%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/20/2053  | CUSIP: 38384CPM5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    128761 | PA      | $129019.32    | 0.08%             | 2053-08-20      | Floating      | 5.55%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 06/20/2046  | CUSIP: 38381XAR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    992793 | PA      | $968976.04    | 0.62%             | 2046-06-20      | Variable      | 4.84%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2055                         | CUSIP: 3136BUQL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    982276 | PA      | $978275.80    | 0.63%             | 2055-01-25      | Floating      | 5.60%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 10/15/2047                        | CUSIP: 3132J0SY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1709764 | PA      | $1677100.00   | 1.08%             | 2047-10-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 04/15/2038                        | CUSIP: 3137FHRY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    555919 | PA      | $548420.63    | 0.35%             | 2038-04-15      | Variable      | 4.82%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2049                         | CUSIP: 3136B8FD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2236245 | PA      | $2176218.21   | 1.40%             | 2049-12-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 03/15/2049                        | CUSIP: 3137FNJJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1474923 | PA      | $1427805.14   | 0.92%             | 2049-03-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 10/15/2039                        | CUSIP: 3137HAL87<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    168877 | PA      | $169096.82    | 0.11%             | 2039-10-15      | Floating      | 5.16%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2036                        | CUSIP: 31397BDF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    299913 | PA      | $296522.58    | 0.19%             | 2036-09-15      | Floating      | 4.86%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 02/20/2040  | CUSIP: 38376VBU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    185305 | PA      | $185418.31    | 0.12%             | 2040-02-20      | Floating      | 5.25%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 02/25/2043                         | CUSIP: 3136ACBN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    146575 | PA      | $142995.83    | 0.09%             | 2043-02-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 06/15/2038                        | CUSIP: 31397WGA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    815259 | PA      | $819433.37    | 0.53%             | 2038-06-15      | Floating      | 5.36%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 05/16/2034  | CUSIP: 38376YCG4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     70820 | PA      | $70812.50     | 0.05%             | 2034-05-16      | Floating      | 4.84%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2036                         | CUSIP: 31396LSV3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    411059 | PA      | $408781.01    | 0.26%             | 2036-11-25      | Floating      | 4.77%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2043                         | CUSIP: 3136AHCG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    153625 | PA      | $151072.51    | 0.10%             | 2043-12-25      | Floating      | 4.99%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/20/2053  | CUSIP: 38384CKA6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    173165 | PA      | $172494.34    | 0.11%             | 2053-08-20      | Floating      | 5.35%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2036                        | CUSIP: 31396RKK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    106093 | PA      | $105487.95    | 0.07%             | 2036-05-15      | Floating      | 4.87%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2046                         | CUSIP: 3136AQ6E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    486256 | PA      | $481429.32    | 0.31%             | 2046-03-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 05/25/2034                         | CUSIP: 31393X6X0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    914674 | PA      | $910694.27    | 0.58%             | 2034-05-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 02/15/2037                        | CUSIP: 31397EWG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    157495 | PA      | $155883.89    | 0.10%             | 2037-02-15      | Floating      | 4.78%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 05/25/2041                         | CUSIP: 31397ST95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    202211 | PA      | $200862.36    | 0.13%             | 2041-05-25      | Floating      | 4.89%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2036                         | CUSIP: 31396KM90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    714336 | PA      | $706643.24    | 0.45%             | 2036-09-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 10/20/2048  | CUSIP: 38381ACN4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1905165 | PA      | $1841941.29   | 1.18%             | 2048-10-20      | Floating      | 4.73%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 06/20/2054  | CUSIP: 38384PWY2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    221044 | PA      | $220523.73    | 0.14%             | 2054-06-20      | Floating      | 5.50%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2050                         | CUSIP: 3136B94A2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2196873 | PA      | $2115159.03   | 1.36%             | 2050-06-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2054                         | CUSIP: 3136BSCJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    613807 | PA      | $609182.04    | 0.39%             | 2054-03-25      | Floating      | 5.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 11/20/2052  | CUSIP: 38383LFS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    460099 | PA      | $453165.97    | 0.29%             | 2052-11-20      | Floating      | 5.05%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 08/15/2042                        | CUSIP: 3128HXT88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    212972 | PA      | $209398.58    | 0.13%             | 2042-08-15      | Floating      | 4.96%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2036                         | CUSIP: 31396LHW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     50486 | PA      | $49858.38     | 0.03%             | 2036-07-25      | Floating      | 4.77%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 10/25/2049                        | CUSIP: 3137FP2X2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1938811 | PA      | $1886464.80   | 1.21%             | 2049-10-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2040  | CUSIP: 38376XE90<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    181692 | PA      | $181094.22    | 0.12%             | 2040-03-20      | Floating      | 5.18%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2043                        | CUSIP: 3137B5G64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     67461 | PA      | $66288.28     | 0.04%             | 2043-09-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 05/25/2046                         | CUSIP: 3136ART24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1218360 | PA      | $1196862.09   | 0.77%             | 2046-05-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 01/20/2048  | CUSIP: 38380UC27<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1045674 | PA      | $1010943.68   | 0.65%             | 2048-01-20      | Floating      | 4.74%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/16/2039  | CUSIP: 38376FRF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     98155 | PA      | $98972.73     | 0.06%             | 2039-08-16      | Floating      | 5.44%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2038                         | CUSIP: 31396YAX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    165336 | PA      | $164200.03    | 0.11%             | 2038-01-25      | Floating      | 5.17%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2042                        | CUSIP: 3137AUDY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    857632 | PA      | $839599.71    | 0.54%             | 2042-09-15      | Floating      | 4.86%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 10/25/2053                        | CUSIP: 3133Q3G39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    751610 | PA      | $749318.65    | 0.48%             | 2053-10-25      | Floating      | 5.25%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 04/15/2041                        | CUSIP: 3137A9HT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    223588 | PA      | $222204.25    | 0.14%             | 2041-04-15      | Floating      | 5.01%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2038                         | CUSIP: 31396YMD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     63017 | PA      | $62879.68     | 0.04%             | 2038-03-25      | Floating      | 5.14%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2049  | CUSIP: 38381TBW4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    136569 | PA      | $133304.80    | 0.09%             | 2049-03-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2050                         | CUSIP: 3136B9AP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   5998720 | PA      | $5833998.43   | 3.75%             | 2050-03-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2037                        | CUSIP: 3137B5YE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    287983 | PA      | $285751.31    | 0.18%             | 2037-09-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 08/15/2037                        | CUSIP: 31397KEW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    167141 | PA      | $166617.74    | 0.11%             | 2037-08-15      | Floating      | 5.01%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 01/25/2050                        | CUSIP: 3137FQLW1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    275549 | PA      | $267899.82    | 0.17%             | 2050-01-25      | Floating      | 5.02%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2046                        | CUSIP: 3137BRU78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2786167 | PA      | $2734050.82   | 1.76%             | 2046-09-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 03/25/2050                        | CUSIP: 3137FRTX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    657274 | PA      | $638529.59    | 0.41%             | 2050-03-25      | Floating      | 4.92%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 03/15/2037                        | CUSIP: 31397FLB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    232912 | PA      | $230509.77    | 0.15%             | 2037-03-15      | Floating      | 4.83%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/25/2050                        | CUSIP: 3137FUY81<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    641757 | PA      | $615712.19    | 0.40%             | 2050-05-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2045                         | CUSIP: 3136AQKY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     88706 | PA      | $87448.36     | 0.06%             | 2045-11-25      | Floating      | 4.72%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2040                        | CUSIP: 31398QGG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    149130 | PA      | $148485.10    | 0.10%             | 2040-05-15      | Floating      | 5.19%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 10/25/2036                         | CUSIP: 31396LHV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    849431 | PA      | $840357.67    | 0.54%             | 2036-10-25      | Floating      | 4.89%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 08/25/2032                         | CUSIP: 31392EJM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     43271 | PA      | $43216.77     | 0.03%             | 2032-08-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 12/16/2037  | CUSIP: 38374DHQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    892204 | PA      | $888876.91    | 0.57%             | 2037-12-16      | Floating      | 4.91%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 11/15/2035                        | CUSIP: 31396F4J9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    811840 | PA      | $802573.78    | 0.52%             | 2035-11-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2033                         | CUSIP: 31393TKR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     56066 | PA      | $55918.36     | 0.04%             | 2033-09-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 05/16/2039  | CUSIP: 38374UTZ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    381699 | PA      | $381820.29    | 0.25%             | 2039-05-16      | Floating      | 5.09%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 02/25/2055                         | CUSIP: 3136BUS68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    191934 | PA      | $187558.74    | 0.12%             | 2055-02-25      | Floating      | 5.20%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2049  | CUSIP: 38381RG60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1296867 | PA      | $1273582.41   | 0.82%             | 2049-03-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2037                         | CUSIP: 31396XNE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    108731 | PA      | $107942.96    | 0.07%             | 2037-09-25      | Floating      | 5.04%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2036                         | CUSIP: 31395NEK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    108007 | PA      | $107309.43    | 0.07%             | 2036-06-25      | Floating      | 4.87%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 10/25/2042                         | CUSIP: 3136A8H60<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     81180 | PA      | $79602.97     | 0.05%             | 2042-10-25      | Floating      | 4.72%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 01/20/2044  | CUSIP: 38376MAC1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2319524 | PA      | $2282052.41   | 1.47%             | 2044-01-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 07/15/2042                        | CUSIP: 3128HXM85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    103374 | PA      | $101890.36    | 0.07%             | 2042-07-15      | Floating      | 5.01%                 | No            | N/A                | On Loan: No      |
| United States Treasury Notes                           | United States Treasury Floating Rate Note Floating Rate, Due 07/31/2026 | CUSIP: 91282CLA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2001016.46   | 1.29%             | 2026-07-31      | Floating      | 4.45%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 06/25/2051                        | CUSIP: 3137H0SS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    663224 | PA      | $619048.34    | 0.40%             | 2051-06-25      | Floating      | 4.55%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2048                        | CUSIP: 3137F5B32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    979730 | PA      | $943855.47    | 0.61%             | 2048-05-15      | Floating      | 4.76%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 08/15/2041                        | CUSIP: 3137AUDT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    340821 | PA      | $339530.96    | 0.22%             | 2041-08-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2050                         | CUSIP: 3136BQEE5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    800309 | PA      | $784238.92    | 0.50%             | 2050-01-25      | Floating      | 4.87%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 08/15/2043                        | CUSIP: 3137B3V70<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    608500 | PA      | $597594.83    | 0.38%             | 2043-08-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2038                         | CUSIP: 31396YTT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    111197 | PA      | $110675.33    | 0.07%             | 2038-03-25      | Floating      | 5.27%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2054  | CUSIP: 38384KTL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    113590 | PA      | $113173.03    | 0.07%             | 2054-03-20      | Floating      | 5.25%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 06/20/2042  | CUSIP: 38375CZ37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1167316 | PA      | $1145307.61   | 0.74%             | 2042-06-20      | Floating      | 4.83%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 10/15/2042                        | CUSIP: 3137AVM87<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1570350 | PA      | $1532763.20   | 0.98%             | 2042-10-15      | Floating      | 4.76%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2048                         | CUSIP: 3136B2DN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    133773 | PA      | $131950.19    | 0.08%             | 2048-06-25      | Floating      | 4.72%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2049                         | CUSIP: 3136B5EY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1249574 | PA      | $1217333.07   | 0.78%             | 2049-07-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2049                         | CUSIP: 3136B5DQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   5304082 | PA      | $5154172.70   | 3.31%             | 2049-07-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2033                         | CUSIP: 31393DJV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     40328 | PA      | $40979.36     | 0.03%             | 2033-07-25      | Floating      | 5.85%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 08/15/2042                        | CUSIP: 3128HXYR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     83828 | PA      | $82426.15     | 0.05%             | 2042-08-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/20/2045  | CUSIP: 38379MTG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    338703 | PA      | $328861.04    | 0.21%             | 2045-08-20      | Floating      | 4.65%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 09/20/2052  | CUSIP: 38383YWM0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1466884 | PA      | $1424711.59   | 0.92%             | 2052-09-20      | Floating      | 4.90%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2036                         | CUSIP: 31398FPZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     62738 | PA      | $63357.93     | 0.04%             | 2036-09-25      | Floating      | 5.67%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2047                         | CUSIP: 3136AUZP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1951466 | PA      | $1914123.30   | 1.23%             | 2047-01-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2035                         | CUSIP: 31394UK92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    360768 | PA      | $353283.53    | 0.23%             | 2035-12-25      | Floating      | 4.82%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2038                         | CUSIP: 31396YAY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    115705 | PA      | $114878.03    | 0.07%             | 2038-01-25      | Floating      | 5.17%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2036                        | CUSIP: 31396R5S2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    761326 | PA      | $753644.28    | 0.48%             | 2036-05-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 02/15/2044                        | CUSIP: 3137B7RJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     90406 | PA      | $89075.92     | 0.06%             | 2044-02-15      | Floating      | 5.01%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 11/15/2036                        | CUSIP: 31397KED9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     55239 | PA      | $54797.45     | 0.04%             | 2036-11-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 10/25/2032                         | CUSIP: 31392EXM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     34528 | PA      | $34397.31     | 0.02%             | 2032-10-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2039                         | CUSIP: 31397NN50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    266450 | PA      | $266043.42    | 0.17%             | 2039-06-25      | Floating      | 5.17%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 06/15/2054                        | CUSIP: 3137BBR69<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2915626 | PA      | $2858649.77   | 1.84%             | 2054-06-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| United States Treasury Bills                           | United States Treasury Bill 0%, Due 08/28/2025                          | CUSIP: 912797PQ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $986265.14    | 0.63%             | 2025-08-28      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 02/25/2046                         | CUSIP: 3136ARDM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    143699 | PA      | $142183.57    | 0.09%             | 2046-02-25      | Floating      | 4.87%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 11/20/2045  | CUSIP: 38379FUG2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    559086 | PA      | $543918.47    | 0.35%             | 2045-11-20      | Floating      | 4.73%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 08/20/2049  | CUSIP: 38381YDP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3406498 | PA      | $3310778.92   | 2.13%             | 2049-08-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 01/20/2034  | CUSIP: 38374GYB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    388412 | PA      | $388041.25    | 0.25%             | 2034-01-20      | Floating      | 4.73%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2040                         | CUSIP: 3136BQHF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    848878 | PA      | $846250.54    | 0.54%             | 2040-06-25      | Floating      | 5.02%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2046                         | CUSIP: 3136AT5M2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    542734 | PA      | $537512.07    | 0.35%             | 2046-11-25      | Floating      | 4.82%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 12/25/2054                        | CUSIP: 3137HHLW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    504789 | PA      | $503264.70    | 0.32%             | 2054-12-25      | Floating      | 5.65%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 08/25/2059                         | CUSIP: 3136B5D77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    728458 | PA      | $713097.47    | 0.46%             | 2059-08-25      | Floating      | 4.97%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2035                         | CUSIP: 31394DR28<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    238595 | PA      | $236528.59    | 0.15%             | 2035-06-25      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2036                        | CUSIP: 31397AT78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    206804 | PA      | $204537.16    | 0.13%             | 2036-09-15      | Floating      | 4.86%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 03/25/2053                         | CUSIP: 3136B5E27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   4179849 | PA      | $4142778.88   | 2.66%             | 2053-03-25      | Floating      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2040                         | CUSIP: 31398SXN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1222425 | PA      | $1212271.06   | 0.78%             | 2040-12-25      | Floating      | 4.94%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2049                         | CUSIP: 3136B7WQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    128037 | PA      | $124448.47    | 0.08%             | 2049-12-25      | Floating      | 4.97%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 10/16/2041  | CUSIP: 38377YXG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1929559 | PA      | $1899493.80   | 1.22%             | 2041-10-16      | Floating      | 4.84%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2040                         | CUSIP: 31398RXN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     70850 | PA      | $70778.65     | 0.05%             | 2040-06-25      | Floating      | 5.20%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 12/15/2046                        | CUSIP: 3137FQLE1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    517866 | PA      | $511255.05    | 0.33%             | 2046-12-15      | Variable      | 4.97%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 12/15/2048                        | CUSIP: 3137FKBB1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    632239 | PA      | $612231.31    | 0.39%             | 2048-12-15      | Floating      | 4.86%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2043                         | CUSIP: 3136AGFY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    304163 | PA      | $299462.58    | 0.19%             | 2043-09-25      | Floating      | 5.02%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 09/15/2044                        | CUSIP: 3137BEBR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   6241055 | PA      | $6101216.10   | 3.92%             | 2044-09-15      | Floating      | 4.86%                 | No            | N/A                | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS Floating Rate, Due 08/15/2048                        | CUSIP: 3137HBGQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    299836 | PA      | $302130.10    | 0.19%             | 2048-08-15      | Variable      | 5.35%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2050                         | CUSIP: 3136B72K6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    471715 | PA      | $459076.47    | 0.29%             | 2050-01-25      | Floating      | 4.97%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 02/25/2038                         | CUSIP: 31396YHB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    222084 | PA      | $221527.39    | 0.14%             | 2038-02-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 12/15/2043                        | CUSIP: 3137B6VQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    121645 | PA      | $119534.60    | 0.08%             | 2043-12-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 02/15/2040                        | CUSIP: 31398WQL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    153003 | PA      | $153370.69    | 0.10%             | 2040-02-15      | Floating      | 5.21%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2054                         | CUSIP: 3136BTL27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1502030 | PA      | $1495968.71   | 0.96%             | 2054-12-25      | Floating      | 5.75%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2050  | CUSIP: 38382DZL6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2071083 | PA      | $2020631.45   | 1.30%             | 2050-03-20      | Floating      | 4.88%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 09/15/2042                        | CUSIP: 3128HXZX6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    337383 | PA      | $331710.26    | 0.21%             | 2042-09-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| United States Treasury Notes                           | United States Treasury Floating Rate Note Floating Rate, Due 04/30/2026 | CUSIP: 91282CKM2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8000000 | PA      | $8001937.84   | 5.14%             | 2026-04-30      | Floating      | 4.42%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 01/25/2055                         | CUSIP: 3136BUEQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     96330 | PA      | $95965.14     | 0.06%             | 2055-01-25      | Floating      | 5.40%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 11/25/2049                         | CUSIP: 3136B64V2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    186409 | PA      | $182593.99    | 0.12%             | 2049-11-25      | Floating      | 4.92%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 03/20/2046  | CUSIP: 38379VU28<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3223278 | PA      | $3161160.32   | 2.03%             | 2046-03-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Strips Floating Rate, Due 07/15/2036                        | CUSIP: 3128HVRY7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    132164 | PA      | $130803.94    | 0.08%             | 2036-07-15      | Floating      | 4.81%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 02/20/2042  | CUSIP: 38378WNB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    196033 | PA      | $193979.66    | 0.12%             | 2042-02-20      | Floating      | 4.73%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 06/15/2042                        | CUSIP: 3137ARPN0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    393158 | PA      | $386733.52    | 0.25%             | 2042-06-15      | Floating      | 4.96%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 06/25/2048                         | CUSIP: 3136B2AH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    463303 | PA      | $452466.38    | 0.29%             | 2048-06-25      | Floating      | 4.72%                 | No            | N/A                | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 01/20/2038  | CUSIP: 38375PAF8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1178756 | PA      | $1175822.64   | 0.76%             | 2038-01-20      | Floating      | 4.88%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 01/15/2041                        | CUSIP: 3137AMAA5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    233098 | PA      | $230379.62    | 0.15%             | 2041-01-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 07/25/2049                         | CUSIP: 3136B45C8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    294602 | PA      | $286451.81    | 0.18%             | 2049-07-25      | Floating      | 4.92%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 12/25/2046                         | CUSIP: 3136AURK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     56731 | PA      | $56119.11     | 0.04%             | 2046-12-25      | Floating      | 4.87%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association Floating Rate, Due 07/16/2041  | CUSIP: 38378AEP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    233733 | PA      | $229989.07    | 0.15%             | 2041-07-16      | Floating      | 4.69%                 | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 09/25/2036                         | CUSIP: 31396KE99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    110133 | PA      | $109076.99    | 0.07%             | 2036-09-25      | Floating      | 4.93%                 | No            | N/A                | On Loan: No      |
| N/A                                                    | BBH SWEEP VEHICLE                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    691211 | PA      | $691211.32    | 0.44%             |  |  |  | No            | N/A                | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS Floating Rate, Due 04/25/2049                         | CUSIP: 3136B36T2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    272310 | PA      | $265321.81    | 0.17%             | 2049-04-25      | Floating      | 4.97%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 05/15/2049                        | CUSIP: 3137FLVL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   4254001 | PA      | $4136867.43   | 2.66%             | 2049-05-15      | Floating      | 4.91%                 | No            | N/A                | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS Floating Rate, Due 10/15/2040                        | CUSIP: 3137GAPP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     96613 | PA      | $95314.53     | 0.06%             | 2040-10-15      | Floating      | 4.94%                 | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** Valued Advisers Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller