# EDGAR Filing Document

**Accession Number:** 0001562565
**File Stem:** 0001752724-25-176772
**Filing Date:** 2025-7
**Character Count:** 129756
**Document Hash:** f2c5032dc448802d192a24bb512555d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-176772.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001752724-25-176772

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fidelity Merrimack Street Trust
- **CENTRAL INDEX KEY:** 0001562565

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22796
- **FILM NUMBER:** 251146352

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Sustainable Low Duration Bond ETF (Series ID: S000075901)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000235242 | Fidelity Sustainable Low Duration Bond ETF | FSLD            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Sustainable Low Duration Bond ETF**

**May 31, 2025**

LDB-NPRT3-0725

1.9904954.103 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Asset-Backed Securities - 12.4%** | &nbsp;&nbsp;**Asset-Backed Securities - 12.4%** | &nbsp;&nbsp;**Asset-Backed Securities - 12.4%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 12.4%  |  |  |
| Ally Auto Receivables Trust Series 2024-1 Class A2, 5.32% 1/15/2027  | 1899 | 1900 |
| BofA Auto Trust Series 2024-1A Class A2, 5.57% 12/15/2026 (b) | 2276 | 2280 |
| BofA Auto Trust Series 2025-1A Class A2A, 4.52% 11/22/2027 (b) | 5000 | 4996 |
| Capital One Multi-Asset Execution Trust Series 2019-A3 Class A3, 2.06% 8/15/2028  | 25000 | 24311 |
| Capital One Prime Auto Receivables Trust 2023-2 Series 2023-2 Class A2A, 5.91% 10/15/2026  | 2563 | 2565 |
| CarMax Auto Owner Trust Series 2023-4 Class A2A, 6.08% 12/15/2026  | 1858 | 1861 |
| CarMax Auto Owner Trust Series 2024-3 Class A2A, 5.21% 9/15/2027  | 4865 | 4875 |
| Carmax Auto Owner Trust Series 2024-4 Class A2A, 4.67% 12/15/2027  | 4191 | 4192 |
| Carmax Auto Owner Trust Series 2025-1 Class A2A, 4.63% 3/15/2028  | 10000 | 9997 |
| Carmax Auto Owner Trust Series 2025-2 Class A2A, 4.59% 7/17/2028  | 5000 | 5002 |
| Carvana Auto Receivables Trust Series 2024-P4 Class A2, 4.62% 2/10/2028  | 4132 | 4130 |
| Carvana Auto Receivables Trust Series 2025-P1 Class A2, 4.5% 6/12/2028  | 10000 | 9984 |
| Citizens Auto Receivables Trust Series 2024-1 Class A2A, 5.43% 10/15/2026 (b) | 2215 | 2217 |
| Citizens Auto Receivables Trust Series 2024-2 Class A2A, 5.54% 11/16/2026 (b) | 3576 | 3581 |
| DLLAA Series 2023-1A Class A2, 5.93% 7/20/2026 (b) | 259 | 259 |
| DLLAA Series 2023-1A Class A3, 5.64% 2/22/2028 (b) | 20000 | 20226 |
| DLLAD Series 2024-1A Class A2, 5.5% 8/20/2027 (b) | 3009 | 3021 |
| DLLST Series 2024-1A Class A3, 5.05% 8/20/2027 (b) | 20000 | 20056 |
| DRIVE Series 2025-1 Class A2, 4.87% 8/15/2028  | 5000 | 5000 |
| Exeter Automobile Receivables Trust Series 2025-3A Class A2, 4.83% 1/18/2028  | 10000 | 10001 |
| Ford Credit Auto Lease Trust Series 2025-A Class A2A, 4.57% 8/15/2027  | 10000 | 9995 |
| Ford Credit Auto Owner Trust Series 2024-D Class A2A, 4.59% 10/15/2027  | 5000 | 5001 |
| Ford Credit Auto Owner Trust Series 2025-A Class A2A, 4.47% 12/15/2027  | 20000 | 19977 |
| FORDO Series 2024-B Class A2A, 5.4% 4/15/2027  | 5072 | 5086 |
| GM Financial Automobile Leasing Trust Series 2025-1 Class A2A, 4.54% 5/20/2027 (c) | 25000 | 25017 |
| GM Financial Automobile Leasing Trust Series 2025-1 Class A3, 4.66% 2/21/2028  | 20000 | 20074 |
| GM Financial Consumer Automobile Receivables Trust Series 2024-1 Class A2A, 5.12% 2/16/2027  | 1995 | 1997 |
| GM Financial Consumer Automobile Receivables Trust Series 2025-2 Class A2A, 4.4% 2/16/2028  | 15000 | 14992 |
| Gm Finl Consumer Automobile Receivables Trust Series 2024-4 Class A2A, 4.53% 10/18/2027  | 6797 | 6793 |
| Gmf Leasing LLC Series 2025-2 Class A2A, 4.55% 7/20/2027  | 15000 | 14997 |
| Harot Series 2025-2 Class A2A, 4.3% 1/18/2028  | 13000 | 12970 |
| Honda Auto Receivables Owner Trust Series 2023-2 Class A3, 4.93% 11/15/2027  | 14236 | 14269 |
| Honda Auto Receivables Owner Trust Series 2025-1 Class A2, 4.53% 8/23/2027  | 25000 | 25017 |
| Honda Auto Receivables Series 2024-2 Class A2, 5.48% 11/18/2026  | 4666 | 4674 |
| Hyundai Auto Receivables Trust Series 2024-C Class A2A, 4.53% 9/15/2027  | 7407 | 7406 |
| John Deere Owner Trust Series 2024-A Class A2A, 5.19% 2/16/2027  | 4588 | 4595 |
| M&T Equipment Notes Series 2025-1A Class A2, 4.7% 12/16/2027 (b) | 5000 | 5006 |
| MBART Series 2025-1 Class A2A, 4.5% 2/15/2028  | 10000 | 9991 |
| Mercedes-Benz Auto Lease Trust Series 2024-B Class A3, 4.23% 2/15/2028  | 20000 | 19934 |
| Mercedes-Benz Auto Lease Trust Series 2025-A Class A2A, 4.57% 4/17/2028  | 10000 | 10018 |
| Mercedes-Benz Auto Receivables Trust Series 2023-2 Class A2, 5.92% 11/16/2026  | 801 | 802 |
| Nissan Auto Receivables Owner Trust Series 2023-B Class A2A, 5.95% 5/15/2026  | 1848 | 1849 |
| Santander Drive Auto Receivables Trust Series 2024-3 Class A2, 5.91% 6/15/2027  | 1390 | 1392 |
| Santander Drive Auto Receivables Trust Series 2025-1 Class A3, 4.74% 1/16/2029  | 5000 | 5004 |
| Santander Drive Auto Receivables Trust Series 2025-2 Class A2, 4.71% 6/15/2028  | 15000 | 15000 |
| SBNA Auto Lease Trust Series 2024-B Class A2, 5.67% 11/20/2026 (b) | 2654 | 2658 |
| SBNA Auto Lease Trust Series 2024-B Class A3, 5.56% 11/22/2027 (b) | 20000 | 20166 |
| SBNA Auto Lease Trust Series 2025-A Class A3, 4.83% 4/20/2028 (b) | 20000 | 20052 |
| SFAST Series 2025-1A Class A2, 4.65% 5/22/2028 (b) | 9847 | 9846 |
| SFS Auto Receivables Securitization Trust Series 2023-1A Class A3, 5.47% 10/20/2028 (b) | 19198 | 19315 |
| SFS Auto Receivables Securitization Trust Series 2024-2A Class A2, 5.71% 10/20/2027 (b) | 3624 | 3633 |
| Sfs Auto Receivables Securitization Trust Series 2024-3A Class A2, 4.71% 5/22/2028 (b) | 6829 | 6827 |
| Tesla Auto Lease Trust Series 2024-B Class A2A, 4.79% 1/20/2027 (b) | 3521 | 3521 |
| Tesla Electric Vehicle Trust Series 2023-1 Class A2A, 5.54% 12/21/2026 (b) | 6709 | 6720 |
| Toyota Auto Receivables Owner Trust Series 2023-C Class A2A, 5.6% 8/17/2026  | 559 | 560 |
| Toyota Auto Receivables Owner Trust Series 2023-D Class A2A, 5.8% 11/16/2026  | 2387 | 2391 |
| Toyota Auto Receivables Owner Trust Series 2025-B Class A2A, 4.46% 3/15/2028  | 20000 | 20007 |
| Toyota Lease Owner Trust Series 2025-A Class A2A, 4.58% 7/20/2027 (b) | 10000 | 10012 |
| Volkswagen Auto Lease Trust Series 2024-A Class A3, 5.21% 6/21/2027  | 20000 | 20163 |
| Volkswagen Auto Loan Enhanced Trust Series 2024-1 Class A2A, 4.65% 11/22/2027  | 19856 | 19866 |
| Woart Series 2025-B Class A2A, 4.38% 8/15/2028  | 15000 | 14983 |
| World Omni Auto Receivables Tr 2023-D Series 2023-D Class A2A, 5.91% 2/16/2027  | 1375 | 1377 |
| World Omni Auto Receivables Tr Series 2023-C Class A2A, 5.57% 12/15/2026  | 100 | 100 |
| World Omni Auto Receivables Trust 2023-C Series 2023-C Class A3, 5.15% 11/15/2028  | 20000 | 20067 |
| World Omni Auto Receivables Trust Series 2024-B Class A2A, 5.48% 9/15/2027  | 3429 | 3435 |
| World Omni Auto Receivables Trust Series 2025-A Class A2A, 4.49% 4/17/2028  | 10000 | 9997 |
| World Omni Select Auto Trust Series 2024-A Class A2A, 5.37% 2/15/2028  | 4656 | 4667 |
| TOTAL UNITED STATES |  | 622673 |
| <br> **TOTAL ASSET-BACKED SECURITIES**<br> (Cost $622,787) |  | <br> **622673** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Commercial Mortgage Securities - 0.7%** | &nbsp;&nbsp;**Commercial Mortgage Securities - 0.7%** | &nbsp;&nbsp;**Commercial Mortgage Securities - 0.7%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 0.7%  |  |  |
| ALA Trust Series 2025-OANA Class A, CME Term SOFR 1 month Index + 1.7426%, 6.0426% 6/15/2030 (b)(c)(d) | 10000 | 10042 |
| BX Trust 2025-ROIC Series 2025-ROIC Class A, CME Term SOFR 1 month Index + 1.1438%, 5.4725% 3/15/2030 (b)(c)(d) | 10000 | 9925 |
| BX Trust Series 2021-MFM1 Class A, CME Term SOFR 1 month Index + 0.8145%, 5.1435% 1/15/2034 (b)(c)(d) | 17145 | 17134 |
| TOTAL UNITED STATES |  | 37101 |
| <br> **TOTAL COMMERCIAL MORTGAGE SECURITIES**<br> (Cost $36,975) |  | <br> **37101** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Corporate Bonds - 49.8%** | &nbsp;&nbsp;**Non-Convertible Corporate Bonds - 49.8%** | &nbsp;&nbsp;**Non-Convertible Corporate Bonds - 49.8%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| AUSTRALIA - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Commonwealth Bank of Australia U.S. SOFR Index + 0.46%, 4.7382% 11/27/2026 (b)(c)(d) | 11000 | 11014 |
| CANADA - 5.9%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| Rogers Communications Inc 3.625% 12/15/2025  | 12000 | 11923 |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Canadian Natural Resources Ltd 2.05% 7/15/2025  | 12000 | 11961 |
| Enbridge Inc 5.9% 11/15/2026  | 10000 | 10168 |
|  |  | 22129 |
| Financials - 5.1% |  |  |
| Banks - 5.1% |  |  |
| Bank of Montreal 0.949% 1/22/2027 (c) | 12000 | 11711 |
| Bank of Montreal 4.567% 9/10/2027 (c) | 20000 | 19984 |
| Bank of Nova Scotia/The 2.7% 8/3/2026  | 20000 | 19612 |
| Bank of Nova Scotia/The 2.951% 3/11/2027  | 15000 | 14630 |
| Bank of Nova Scotia/The 5.35% 12/7/2026  | 18000 | 18222 |
| Canadian Imperial Bank of Commerce 4.508% 9/11/2027 (c) | 20000 | 19969 |
| Canadian Imperial Bank of Commerce 5.615% 7/17/2026  | 15000 | 15190 |
| Canadian Imperial Bank of Commerce 5.926% 10/2/2026  | 15000 | 15274 |
| Royal Bank of Canada 4.51% 10/18/2027 (c) | 15000 | 15005 |
| Royal Bank of Canada 5.069% 7/23/2027 (c) | 15000 | 15099 |
| Royal Bank of Canada U.S. SOFR Averages Index + 0.72%, 5.0396% 10/18/2027 (c)(d) | 12000 | 12007 |
| Royal Bank of Canada U.S. SOFR Averages Index + 0.79%, 5.1072% 7/23/2027 (c)(d) | 20000 | 20029 |
| Toronto Dominion Bank 1.25% 9/10/2026  | 18000 | 17278 |
| Toronto Dominion Bank 5.532% 7/17/2026  | 20000 | 20222 |
| Toronto Dominion Bank U.S. SOFR Index + 0.62%, 4.9613% 12/17/2026 (c)(d) | 15000 | 15011 |
|  |  | 249243 |
| Utilities - 0.2% |  |  |
| Independent Power and Renewable Electricity Producers - 0.2% |  |  |
| Emera US Finance LP 3.55% 6/15/2026  | 12000 | 11841 |
| TOTAL CANADA |  | 295136 |
| IRELAND - 0.6%  |  |  |
| Industrials - 0.6% |  |  |
| Transportation Infrastructure - 0.6% |  |  |
| Avolon Holdings Funding Ltd 4.25% 4/15/2026 (b) | 15000 | 14890 |
| Avolon Holdings Funding Ltd 4.375% 5/1/2026 (b) | 15000 | 14899 |
| TOTAL IRELAND |  | 29789 |
| NETHERLANDS - 0.7%  |  |  |
| Information Technology - 0.7% |  |  |
| Semiconductors & Semiconductor Equipment - 0.7% |  |  |
| NXP BV / NXP Funding LLC / NXP USA Inc 3.875% 6/18/2026  | 20000 | 19838 |
| NXP BV / NXP Funding LLC 5.35% 3/1/2026  | 15000 | 15077 |
| TOTAL NETHERLANDS |  | 34915 |
| UNITED KINGDOM - 0.3%  |  |  |
| Health Care - 0.3% |  |  |
| Pharmaceuticals - 0.3% |  |  |
| GlaxoSmithKline Capital PLC U.S. SOFR Index + 0.5%, 4.8428% 3/12/2027 (c)(d) | 17000 | 17041 |
| UNITED STATES - 42.1%  |  |  |
| Communication Services - 1.8% |  |  |
| Diversified Telecommunication Services - 0.6% |  |  |
| AT&T Inc 1.7% 3/25/2026  | 22000 | 21485 |
| AT&T Inc 3.875% 1/15/2026  | 11000 | 10937 |
|  |  | 32422 |
| Media - 0.4% |  |  |
| Discovery Communications LLC 4.9% 3/11/2026  | 19000 | 18970 |
| Wireless Telecommunication Services - 0.8% |  |  |
| Sprint LLC 7.625% 3/1/2026  | 19000 | 19209 |
| T-Mobile USA Inc 1.5% 2/15/2026  | 10000 | 9767 |
| T-Mobile USA Inc 2.625% 4/15/2026  | 10000 | 9845 |
|  |  | 38821 |
| TOTAL COMMUNICATION SERVICES |  | 90213 |
| Consumer Discretionary - 3.3% |  |  |
| Automobiles - 1.9% |  |  |
| General Motors Financial Co Inc 4.3% 7/13/2025  | 15000 | 14987 |
| General Motors Financial Co Inc 5.4% 4/6/2026  | 41000 | 41121 |
| Hyundai Capital America 5.65% 6/26/2026 (b) | 11000 | 11098 |
| Hyundai Capital America 5.8% 6/26/2025 (b) | 15000 | 15007 |
| Hyundai Capital America 6.25% 11/3/2025 (b) | 11000 | 11055 |
|  |  | 93268 |
| Leisure Products - 0.9% |  |  |
| Mattel Inc 3.375% 4/1/2026 (b) | 12000 | 11815 |
| Mattel Inc 5.875% 12/15/2027 (b) | 31000 | 31109 |
|  |  | 42924 |
| Specialty Retail - 0.5% |  |  |
| Home Depot Inc/The U.S. SOFR Index + 0.33%, 4.6738% 12/24/2025 (c)(d) | 9000 | 9009 |
| Ross Stores Inc 0.875% 4/15/2026  | 15000 | 14538 |
|  |  | 23547 |
| TOTAL CONSUMER DISCRETIONARY |  | 159739 |
| Consumer Staples - 1.6% |  |  |
| Beverages - 0.3% |  |  |
| Keurig Dr Pepper Inc U.S. SOFR Index + 0.58%, 4.8863% 11/15/2026 (c)(d) | 17000 | 17025 |
| Consumer Staples Distribution & Retail - 0.6% |  |  |
| 7-Eleven Inc 0.95% 2/10/2026 (b) | 12000 | 11679 |
| Mars Inc 4.45% 3/1/2027 (b) | 6000 | 6005 |
| Walmart Inc U.S. SOFR Averages Index + 0.43%, 4.7471% 4/28/2027 (c)(d) | 14000 | 14036 |
|  |  | 31720 |
| Food Products - 0.7% |  |  |
| Bunge Ltd Fin Corp 3.25% 8/15/2026  | 15000 | 14770 |
| Kraft Heinz Foods Co 3% 6/1/2026  | 18000 | 17722 |
|  |  | 32492 |
| TOTAL CONSUMER STAPLES |  | 81237 |
| Energy - 1.9% |  |  |
| Oil, Gas & Consumable Fuels - 1.9% |  |  |
| DCP Midstream Operating LP 5.375% 7/15/2025  | 11000 | 11003 |
| EQT Corp 3.125% 5/15/2026 (b) | 42000 | 41242 |
| MPLX LP 1.75% 3/1/2026  | 12000 | 11730 |
| Transcontinental Gas Pipe Line Co LLC 7.85% 2/1/2026  | 11000 | 11136 |
| Western Gas Partners LP 4.65% 7/1/2026  | 16000 | 15955 |
| Williams Cos Inc/The 5.4% 3/2/2026  | 5000 | 5025 |
|  |  | 96091 |
| Financials - 21.9% |  |  |
| Banks - 10.8% |  |  |
| Bank of America Corp 1.197% 10/24/2026 (c) | 10000 | 9859 |
| Bank of America Corp 1.658% 3/11/2027 (c) | 15000 | 14654 |
| Bank of America Corp 1.734% 7/22/2027 (c) | 15000 | 14509 |
| Bank of America Corp 3.559% 4/23/2027 (c) | 45000 | 44539 |
| Bank of America Corp 5.08% 1/20/2027 (c) | 15000 | 15032 |
| Citigroup Inc 1.122% 1/28/2027 (c) | 12000 | 11715 |
| Citigroup Inc 1.462% 6/9/2027 (c) | 8000 | 7734 |
| Citigroup Inc 3.2% 10/21/2026  | 15000 | 14729 |
| Citigroup Inc 5.61% 9/29/2026 (c) | 19000 | 19044 |
| Citizens Financial Group Inc 2.85% 7/27/2026  | 40000 | 39202 |
| JPMorgan Chase & Co 1.045% 11/19/2026 (c) | 45000 | 44210 |
| JPMorgan Chase & Co 1.578% 4/22/2027 (c) | 12000 | 11685 |
| JPMorgan Chase & Co 3.96% 1/29/2027 (c) | 12000 | 11950 |
| JPMorgan Chase & Co 6.07% 10/22/2027 (c) | 15000 | 15311 |
| JPMorgan Chase & Co U.S. SOFR Index + 0.885%, 5.2043% 4/22/2027 (c)(d) | 15000 | 15038 |
| PNC Financial Services Group Inc/The 4.758% 1/26/2027 (c) | 41000 | 41023 |
| PNC Financial Services Group Inc/The 5.102% 7/23/2027 (c) | 15000 | 15088 |
| PNC Financial Services Group Inc/The 5.812% 6/12/2026 (c) | 15000 | 15003 |
| PNC Financial Services Group Inc/The 6.615% 10/20/2027 (c) | 11000 | 11310 |
| Truist Financial Corp 1.267% 3/2/2027 (c) | 12000 | 11677 |
| Truist Financial Corp 4.26% 7/28/2026 (c) | 28000 | 27968 |
| Truist Financial Corp 6.047% 6/8/2027 (c) | 19000 | 19245 |
| US Bancorp 5.727% 10/21/2026 (c) | 19000 | 19071 |
| US Bancorp 6.787% 10/26/2027 (c) | 19000 | 19564 |
| Wells Fargo & Co 3% 10/23/2026  | 15000 | 14697 |
| Wells Fargo & Co 3.196% 6/17/2027 (c) | 12000 | 11827 |
| Wells Fargo & Co 4.54% 8/15/2026 (c) | 20000 | 19992 |
| Wells Fargo & Co 4.9% 1/24/2028 (c) | 20000 | 20074 |
|  |  | 535750 |
| Capital Markets - 6.0% |  |  |
| Athene Global Funding 4.86% 8/27/2026 (b) | 15000 | 15034 |
| Athene Global Funding 4.95% 1/7/2027 (b) | 15000 | 15039 |
| Bank of New York Mellon Corp/The 4.414% 7/24/2026 (c) | 41000 | 40970 |
| Goldman Sachs Group Inc/The 1.093% 12/9/2026 (c) | 12000 | 11772 |
| Goldman Sachs Group Inc/The 1.431% 3/9/2027 (c) | 20000 | 19497 |
| Goldman Sachs Group Inc/The 5.798% 8/10/2026 (c) | 45000 | 45084 |
| Goldman Sachs Group Inc/The U.S. SOFR Index + 1.29%, 5.6072% 4/23/2028 (c)(d) | 20000 | 20122 |
| LPL Holdings Inc 4.625% 11/15/2027 (b) | 15000 | 14881 |
| Morgan Stanley 0.985% 12/10/2026 (c) | 16000 | 15680 |
| Morgan Stanley 1.512% 7/20/2027 (c) | 20000 | 19297 |
| Morgan Stanley 1.593% 5/4/2027 (c) | 12000 | 11661 |
| Morgan Stanley 4.679% 7/17/2026 (c) | 45000 | 44994 |
| Nasdaq Inc 5.65% 6/28/2025  | 2000 | 2000 |
| State Street Corp 5.751% 11/4/2026 (c) | 20000 | 20093 |
| State Street Corp U.S. SOFR Index + 0.95%, 5.2666% 4/24/2028 (c)(d) | 7000 | 7036 |
|  |  | 303160 |
| Consumer Finance - 2.2% |  |  |
| American Express Co 5.389% 7/28/2027 (c) | 15000 | 15133 |
| American Express Co 5.645% 4/23/2027 (c) | 15000 | 15135 |
| American Express Co 6.338% 10/30/2026 (c) | 16000 | 16110 |
| Capital One Financial Corp 4.985% 7/24/2026 (c) | 30000 | 30000 |
| Toyota Motor Credit Corp U.S. SOFR Averages Index + 0.45%, 4.7796% 4/10/2026 (c)(d) | 12000 | 12002 |
| Toyota Motor Credit Corp U.S. SOFR Index + 0.71%, 4.9985% 5/14/2027 (c)(d) | 20000 | 20038 |
|  |  | 108418 |
| Financial Services - 0.7% |  |  |
| Aviation Capital Group LLC 1.95% 9/20/2026 (b) | 15000 | 14428 |
| Corebridge Global Funding 5.75% 7/2/2026 (b) | 11000 | 11138 |
| Western Union Co/The 1.35% 3/15/2026  | 12000 | 11668 |
|  |  | 37234 |
| Insurance - 2.2% |  |  |
| Equitable Financial Life Global Funding 1% 1/9/2026 (b) | 12000 | 11746 |
| Equitable Financial Life Global Funding 1.3% 7/12/2026 (b) | 8000 | 7726 |
| Equitable Financial Life Global Funding 1.4% 7/7/2025 (b) | 12000 | 11963 |
| Equitable Financial Life Global Funding 5.5% 12/2/2025 (b) | 36000 | 36146 |
| Jackson National Life Global Funding 3.05% 4/29/2026 (b) | 41000 | 40453 |
|  |  | 108034 |
| TOTAL FINANCIALS |  | 1092596 |
| Health Care - 2.3% |  |  |
| Health Care Equipment & Supplies - 0.7% |  |  |
| Boston Scientific Corp 1.9% 6/1/2025  | 37000 | 37000 |
| Health Care Providers & Services - 1.6% |  |  |
| Cigna Group/The 1.25% 3/15/2026  | 16000 | 15584 |
| CVS Health Corp 2.875% 6/1/2026  | 12000 | 11785 |
| CVS Health Corp 3.625% 4/1/2027  | 15000 | 14740 |
| CVS Health Corp 5% 2/20/2026  | 10000 | 10014 |
| HCA Inc 5.25% 6/15/2026  | 19000 | 19020 |
| HCA Inc 5.875% 2/15/2026  | 7000 | 7015 |
|  |  | 78158 |
| TOTAL HEALTH CARE |  | 115158 |
| Industrials - 1.8% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| L3Harris Technologies Inc 3.85% 12/15/2026  | 18000 | 17829 |
| Industrial Conglomerates - 0.2% |  |  |
| Trane Technologies Financing Ltd 3.5% 3/21/2026  | 12000 | 11912 |
| Machinery - 0.4% |  |  |
| Caterpillar Financial Services Corp U.S. SOFR Index + 0.69%, 5.0118% 10/16/2026 (c)(d) | 20000 | 20081 |
| Trading Companies & Distributors - 0.8% |  |  |
| Air Lease Corp 2.875% 1/15/2026  | 16000 | 15810 |
| Air Lease Corp 3.375% 7/1/2025  | 12000 | 11985 |
| Air Lease Corp 3.75% 6/1/2026  | 13000 | 12892 |
|  |  | 40687 |
| TOTAL INDUSTRIALS |  | 90509 |
| Information Technology - 2.7% |  |  |
| Electronic Equipment, Instruments & Components - 0.3% |  |  |
| Dell International LLC / EMC Corp 6.02% 6/15/2026  | 15000 | 15139 |
| Semiconductors & Semiconductor Equipment - 0.2% |  |  |
| Marvell Technology Inc 1.65% 4/15/2026  | 15000 | 14614 |
| Software - 1.5% |  |  |
| Oracle Corp 2.65% 7/15/2026  | 23000 | 22518 |
| Oracle Corp 5.8% 11/10/2025  | 10000 | 10053 |
| Roper Technologies Inc 3.8% 12/15/2026  | 23000 | 22795 |
| VMware LLC 1.4% 8/15/2026  | 20000 | 19256 |
|  |  | 74622 |
| Technology Hardware, Storage & Peripherals - 0.7% |  |  |
| Hewlett Packard Enterprise Co 4.45% 9/25/2026  | 33000 | 32952 |
| TOTAL INFORMATION TECHNOLOGY |  | 137327 |
| Materials - 0.3% |  |  |
| Chemicals - 0.3% |  |  |
| Celanese US Holdings LLC 1.4% 8/5/2026  | 8000 | 7664 |
| International Flavors & Fragrances Inc 1.23% 10/1/2025 (b) | 9000 | 8888 |
|  |  | 16552 |
| Real Estate - 1.8% |  |  |
| Office REITs - 0.3% |  |  |
| COPT Defense Properties LP 2.25% 3/15/2026  | 18000 | 17622 |
| Specialized REITs - 1.5% |  |  |
| American Tower Corp 1.3% 9/15/2025  | 12000 | 11874 |
| American Tower Corp 1.6% 4/15/2026  | 12000 | 11681 |
| American Tower Corp 3.375% 10/15/2026  | 10000 | 9849 |
| American Tower Corp 4% 6/1/2025  | 11000 | 11000 |
| Crown Castle Inc 1.05% 7/15/2026  | 19000 | 18224 |
| Crown Castle Inc 1.35% 7/15/2025  | 12000 | 11947 |
|  |  | 74575 |
| TOTAL REAL ESTATE |  | 92197 |
| Utilities - 2.7% |  |  |
| Electric Utilities - 1.3% |  |  |
| DTE Electric Co 4.25% 5/14/2027  | 3000 | 2983 |
| Eversource Energy 4.75% 5/15/2026  | 11000 | 11013 |
| Jersey Central Power & Light Co 4.3% 1/15/2026 (b) | 11000 | 10965 |
| Oncor Electric Delivery Co LLC 4.5% 3/20/2027 (b) | 9000 | 9017 |
| Pacific Gas and Electric Co 3.5% 6/15/2025  | 12000 | 11991 |
| Pacific Gas and Electric Co U.S. SOFR Averages Index + 0.95%, 5.2983% 9/4/2025 (c)(d) | 15000 | 14999 |
| Vistra Operations Co LLC 5.05% 12/30/2026 (b) | 3000 | 3008 |
|  |  | 63976 |
| Gas Utilities - 0.2% |  |  |
| East Ohio Gas Co/The 1.3% 6/15/2025 (b) | 12000 | 11984 |
| Independent Power and Renewable Electricity Producers - 0.2% |  |  |
| AES Corp/The 1.375% 1/15/2026  | 12000 | 11727 |
| Multi-Utilities - 1.0% |  |  |
| Dominion Energy Inc 1.45% 4/15/2026  | 37000 | 36002 |
| NiSource Inc 0.95% 8/15/2025  | 12000 | 11907 |
|  |  | 47909 |
| TOTAL UTILITIES |  | 135596 |
| TOTAL UNITED STATES |  | 2107215 |
| <br> **TOTAL NON-CONVERTIBLE CORPORATE BONDS**<br> (Cost $2,488,505) |  | <br> **2495110** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 34.8%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 34.8%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 34.8%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 34.8%** |
|  | Yield (%) (e) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 11/28/2025  | 4.25 to 4.32 | 368900 | 361260 |
| US Treasury Bills 0% 6/12/2025  | 4.23 to 4.25 | 300000 | 299646 |
| US Treasury Bills 0% 8/26/2025  | 4.31 | 100000 | 99001 |
| US Treasury Bills 0% 8/7/2025  | 4.27 | 300000 | 297674 |
| US Treasury Bills 0% 9/4/2025  | 4.20 to 4.21 | 313700 | 310242 |
| US Treasury Notes 3.5% 9/30/2026  | 4.20 to 4.36 | 329900 | 327581 |
| US Treasury Notes 4.125% 1/31/2027  | 4.37 | 50000 | 50113 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $1,744,332) |  |  | **1745517** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.3%** | &nbsp;&nbsp;**Money Market Funds - 2.3%** | &nbsp;&nbsp;**Money Market Funds - 2.3%** | &nbsp;&nbsp;**Money Market Funds - 2.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $114,789)<br>| 4.32 | 114766 | **114789** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.0%**<br> (Cost $5,007,388)<br>| <br>**5015190** |
| **NET OTHER ASSETS (LIABILITIES) - 0.0%**  | **1262** |
| **NET ASSETS - 100.0%** | **5016452** |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $603,722 or 12.0% of net assets.

(c) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(e) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 110489 | 1673224 | 1668924 | 4112 | - | - | 114789 | 114766 | 0.0% |
| Total | 110489 | 1673224 | 1668924 | 4112 | - | - | 114789 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations and Non-Convertible Corporate Bonds are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. Asset-Backed Securities and Commercial Mortgage Securities are valued by pricing services who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Merrimack Street Trust

- **b. Investment Company Act file number:** 811-22796

- **c. CIK number of Registrant:** 0001562565

- **d. LEI of Registrant:** 549300782HVYOIE6CE74

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Sustainable Low Duration Bond ETF

- **b. EDGAR series identifier (if any):** S000075901

- **c. LEI of Series:** 549300WIZG14N75QR427

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5044849.99

**Total Liabilities:** $28812.06

**Net Assets:** $5016037.93

**Cash Not Reported:** $12.80

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 106.82883322 | **1-Year:** 229.04543517 | **5-Year:** 91.69769262 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 2.31645600 | **1-Year:** 1.43867900 | **5-Year:** 1.07547200 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000235242 | 0.36%                | 0.38%                | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $917.51                  | $-1609.93                                  |
| Month 2  | $3411.31                 | $-2526.37                                  |
| Month 3  | $164.21                  | $-3190.22                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CARMAX AUTO OWNER TR 2023-4                               | CARMAX AUTO OWNER TR 2023-4 6.08% 12/15/2026                               | CUSIP: 14318XAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1858 | PA      | $1861.11      | 0.04%             | 2026-12-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| SFS AUTO RECEIVABLES SECURITIZATION TRUST 2024-3          | SFS AUTO RECEIVABLES SECURITIZATION TRUST 2024-3 4.71% 05/22/2028 144A     | CUSIP: 78436XAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      6829 | PA      | $6826.87      | 0.14%             | 2028-05-22      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-2             | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-2 4.71% 06/15/2028             | CUSIP: 80287NAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     15000 | PA      | $15000.32     | 0.30%             | 2028-06-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES 2024-2 OWNER TR                    | HONDA AUTO RECEIVABLES 2024-2 OWNER TR 5.48% 11/18/2026                    | CUSIP: 437930AB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4666 | PA      | $4674.36      | 0.09%             | 2026-11-18      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                      | ROYAL BANK OF CANADA 5.069%/VAR 07/23/2027                                 | CUSIP: 78016HZX1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15099.14     | 0.30%             | 2027-07-23      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS and ELECTRIC CO                               | PACIFIC GAS and ELECTRIC CO FRN SOFRINDX+95 09/04/2025                     | CUSIP: 694308KS5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14998.59     | 0.30%             | 2025-09-04      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE and CO                                     | JPMORGAN CHASE and CO 1.578%/VAR 04/22/2027                                | CUSIP: 46647PCB0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11685.88     | 0.23%             | 2027-04-22      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO and CO                                        | WELLS FARGO and CO NEW 3.196%/VAR 06/17/2027                               | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11827.51     | 0.24%             | 2027-06-17      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO RECEIVABLES TR 2023-2                  | MERCEDES-BENZ AUTO RECEIVABLES TR 2023-2 5.92% 11/16/2026                  | CUSIP: 58769FAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |       801 | PA      | $801.92       | 0.02%             | 2026-11-16      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                     | ATHENE GLOBAL FUNDING 4.86% 08/27/2026 144A                                | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15034.70     | 0.30%             | 2026-08-27      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES OWNER TRUS                         | HONDA AUTO RECEIVABLES OWNER TRUS 4.53% 08/23/2027                         | CUSIP: 43814VAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     25000 | PA      | $25015.59     | 0.50%             | 2027-08-23      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GRP INC                            | PNC FINANCIAL SERVICES GRP INC 6.615%/VAR 10/20/2027                       | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11309.61     | 0.23%             | 2027-10-20      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GRP INC                            | PNC FINANCIAL SERVICES GRP INC 5.812%/VAR 06/12/2026                       | CUSIP: 693475BQ7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15003.00     | 0.30%             | 2026-06-12      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                                 | UST BILLS 0% 11/28/2025                                                    | CUSIP: 912797NL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    368900 | PA      | $361260.34    | 7.20%             | 2025-11-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TESLA ELEC VEH TR 2023-1                                  | TESLA ELEC VEH TR 2023-1 5.54% 12/21/2026 144A                             | CUSIP: 881943AB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      6709 | PA      | $6719.57      | 0.13%             | 2026-12-21      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                             | GOLDMAN SACHS GROUP INC (THE) 1.093%/VAR 12/09/2026                        | CUSIP: 38141GXM1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11772.46     | 0.23%             | 2026-12-09      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ALA TRUST 2025-OANA                                       | ALA TRUST 2025-OANA A 6.04263% 06/15/2030 144A                             | CUSIP: 009920AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000 | PA      | $10041.88     | 0.20%             | 2030-06-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| DTE ELEC CO                                               | DTE ELEC CO 4.25% 05/14/2027                                               | CUSIP: 23338VAW6<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2983.47      | 0.06%             | 2027-05-14      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST 2025-A                       | FORD CREDIT AUTO OWNER TRUST 2025-A 4.47% 12/15/2027                       | CUSIP: 34535KAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $19976.65     | 0.40%             | 2027-12-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                             | GOLDMAN SACHS GROUP INC (THE) 1.431%/VAR 03/09/2027                        | CUSIP: 38141GYA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19496.61     | 0.39%             | 2027-03-09      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                      | ROYAL BANK OF CANADA FRN SOFRINDX+72 10/18/2027                            | CUSIP: 78017FZR7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $12006.61     | 0.24%             | 2027-10-18      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TESLA AUTO LEASE TRUST 2024-B                             | TESLA AUTO LEASE TRUST 2024-B 4.79% 01/20/2027 144A                        | CUSIP: 881934AB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      3521 | PA      | $3520.97      | 0.07%             | 2027-01-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FUNDING LTD                               | AVOLON HOLDINGS FUNDING LTD 4.25% 04/15/2026 144A                          | CUSIP: 05401AAL5<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     15000 | PA      | $14890.42     | 0.30%             | 2026-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                          | T-MOBILE USA INC 2.625% 04/15/2026                                         | CUSIP: 87264ABU8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9845.01      | 0.20%             | 2026-04-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP (THE)                                         | CIGNA GROUP (THE) 1.25% 03/15/2026                                         | CUSIP: 125523CP3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15585.22     | 0.31%             | 2026-03-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                               | BANK OF AMERICA CORPORATION 1.658%/VAR 03/11/2027                          | CUSIP: 06051GJQ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14653.51     | 0.29%             | 2027-03-11      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                  | TOYOTA MOTOR CREDIT CORP FRN SOFRINDX+45 04/10/2026                        | CUSIP: 89236TMR3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12002.39     | 0.24%             | 2026-04-10      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| CELANESE US HLDGS LLC                                     | CELANESE US HLDGS LLC 1.4% 08/05/2026                                      | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7665.06      | 0.15%             | 2026-08-05      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                      | ROYAL BANK OF CANADA 4.51%/VAR 10/18/2027                                  | CUSIP: 78017FZQ9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15005.24     | 0.30%             | 2027-10-18      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2024-4         | GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2024-4 4.53% 10/18/2027         | CUSIP: 38014AAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      6797 | PA      | $6792.81      | 0.14%             | 2027-10-18      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SFAST 2025-1A                                             | SFAST 2025-1A 4.65% 05/22/2028 144A                                        | CUSIP: 81885BAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      9847 | PA      | $9846.23      | 0.20%             | 2028-05-22      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                            | AIR LEASE CORP 3.75% 06/01/2026                                            | CUSIP: 00914AAB8<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12892.35     | 0.26%             | 2026-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| VMWARE INC                                                | VMWARE INC 1.4% 08/15/2026                                                 | CUSIP: 928563AJ4<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19256.86     | 0.38%             | 2026-08-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO and CO                                        | WELLS FARGO and CO NEW 4.9%/VAR 01/24/2028                                 | CUSIP: 95000U3R2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20073.91     | 0.40%             | 2028-01-24      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| THE TORONTO DOMINION BANK                                 | TORONTO DOMINION BANK 5.532% 07/17/2026                                    | CUSIP: 89115A2S0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $20221.10     | 0.40%             | 2026-07-17      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                       | AMERICAN EXPRESS CO 5.389%/VAR 07/28/2027                                  | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15133.77     | 0.30%             | 2027-07-28      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GRP INC                            | PNC FINANCIAL SERVICES GRP INC 4.758%/VAR 01/26/2027                       | CUSIP: 693475BL8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     41000 | PA      | $41023.37     | 0.82%             | 2027-01-26      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                       | AMERICAN TOWER CORP 3.375% 10/15/2026                                      | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9849.40      | 0.20%             | 2026-10-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST 2024-3                            | CARMAX AUTO OWNER TRUST 2024-3 5.21% 09/15/2027                            | CUSIP: 14319GAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4865 | PA      | $4874.82      | 0.10%             | 2027-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HAROT 2025-2 A2A                                          | HAROT 2025-2 A2A 4.3% 01/18/2028                                           | CUSIP: 437921AB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     13000 | PA      | $12969.96     | 0.26%             | 2028-01-18      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DRIVE 2025-1 A2                                           | DRIVE 2025-1 A2 5.05% 08/15/2028                                           | CUSIP: 262102AB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000 | PA      | $4999.79      | 0.10%             | 2028-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GENERAL MTRS FINL CO INC                                  | GENERAL MTRS FINL CO INC 4.3% 07/13/2025                                   | CUSIP: 37045XAZ9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14986.75     | 0.30%             | 2025-07-13      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GRP INC                                | CITIZENS FINANCIAL GRP INC 2.85% 07/27/2026                                | CUSIP: 174610AR6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39201.55     | 0.78%             | 2026-07-27      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| SBNA AUTO LEASE TRUST 2024-B                              | SBNA AUTO LEASE TRUST 2024-B 5.67% 11/20/2026 144A                         | CUSIP: 78437VAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      2654 | PA      | $2657.76      | 0.05%             | 2026-11-20      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE and CO                                     | JPMORGAN CHASE and CO 1.045%/VAR 11/19/2026                                | CUSIP: 46647PBT2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44209.66     | 0.88%             | 2026-11-19      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                   | HYUNDAI CAP AMER 5.65% 06/26/2026 144A                                     | CUSIP: 44891ACG0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11098.04     | 0.22%             | 2026-06-26      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                               | BANK OF AMERICA CORPORATION 1.197%/VAR 10/24/2026                          | CUSIP: 06051GJK6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9859.12      | 0.20%             | 2026-10-24      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                                | MATTEL INC 5.875% 12/15/2027 144A                                          | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31108.50     | 0.62%             | 2027-12-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                               | WALMART INC FRN SOFRINDX+43 04/28/2027                                     | CUSIP: 931142FM0<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14035.56     | 0.28%             | 2027-04-28      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                           | CVS HEALTH CORP 2.875% 06/01/2026                                          | CUSIP: 126650CU2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11784.58     | 0.23%             | 2026-06-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                  | TOYOTA MOTOR CREDIT CORP FRN SOFR+71 05/14/2027                            | CUSIP: 89236TNH4<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20037.44     | 0.40%             | 2027-05-14      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST 2024-4                            | CARMAX AUTO OWNER TRUST 2024-4 4.67% 12/15/2027                            | CUSIP: 14290DAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4191 | PA      | $4191.96      | 0.08%             | 2027-12-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                            | MORGAN STANLEY 1.593%/VAR 05/04/2027                                       | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11660.56     | 0.23%             | 2027-05-04      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                       | DOMINION ENERGY INC 1.45% 04/15/2026                                       | CUSIP: 25746UDJ5<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36002.22     | 0.72%             | 2026-04-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                       | AMERICAN EXPRESS CO 5.645%/VAR 04/23/2027                                  | CUSIP: 025816DT3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15135.08     | 0.30%             | 2027-04-23      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| CARMX 2025-2                                              | CARMX 2025-2 4.59% 07/17/2028                                              | CUSIP: 14320AAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000 | PA      | $5002.19      | 0.10%             | 2028-07-17      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE                        | CANADIAN IMPERIAL BK OF COMM 4.508%/VAR 09/11/2027                         | CUSIP: 13607PHT4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19968.76     | 0.40%             | 2027-09-11      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| ONCOR ELEC DELIVERY CO LLC                                | ONCOR ELEC DELIVERY CO LLC 4.5% 03/20/2027 144A                            | CUSIP: 68233JCY8<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9017.09      | 0.18%             | 2027-03-20      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                             | CITIGROUP INC 1.122%/VAR 01/28/2027                                        | CUSIP: 17327CAM5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11714.77     | 0.23%             | 2027-01-28      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| NISSAN AUTO RECEIVABLES 2023-B OWNER TR                   | NISSAN AUTO RECEIVABLES 2023-B OWNER TR 5.95% 05/15/2026                   | CUSIP: 65480MAB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1848 | PA      | $1849.43      | 0.04%             | 2026-05-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP LLC                                | AVIATION CAPITAL GROUP LLC 1.95% 09/20/2026 144A                           | CUSIP: 05369AAL5<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14427.70     | 0.29%             | 2026-09-20      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROPERTIES LP                                | COPT DEFENSE PROPERTIES LP 2.25% 03/15/2026                                | CUSIP: 22003BAL0<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17622.57     | 0.35%             | 2026-03-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE GLOBAL FUNDING                   | EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 1.4% 07/07/2025 144A               | CUSIP: 29449WAA5<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11963.37     | 0.24%             | 2025-07-07      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                                 | UST BILLS 0% 06/12/2025                                                    | CUSIP: 912797LN5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $299645.78    | 5.97%             | 2025-06-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                            | MORGAN STANLEY 0.985%/VAR 12/10/2026                                       | CUSIP: 6174468V4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15680.06     | 0.31%             | 2026-12-10      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GRP INC                            | PNC FINANCIAL SERVICES GRP INC 5.102%/VAR 07/23/2027                       | CUSIP: 693475BY0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15088.23     | 0.30%             | 2027-07-23      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 25-3A                 | EXETER AUTOMOBILE RECEIVABLES TRUST 25-3A A2 4.94% 01/18/2028              | CUSIP: 30166XAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $10001.28     | 0.20%             | 2028-01-18      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                             | CITIGROUP INC 5.61%/VAR 09/29/2026                                         | CUSIP: 172967NX5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19043.75     | 0.38%             | 2026-09-29      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| BOFA AUTO TR 2024-1                                       | BOFA AUTO TR 2024-1 5.57% 12/15/2026 144A                                  | CUSIP: 09709AAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      2276 | PA      | $2280.27      | 0.05%             | 2026-12-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUSTRALIA                               | COMMONWEALTH BANK AUSTRALIA FRN SOFR+46 11/27/2026 144A                    | CUSIP: 2027A0KV0<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |     11000 | PA      | $11014.25     | 0.22%             | 2026-11-27      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| WESTERN GAS PARTNERS LP                                   | WESTERN GAS PARTNERS LP 4.65% 07/01/2026                                   | CUSIP: 958254AF1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15955.30     | 0.32%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                           | CVS HEALTH CORP 5% 02/20/2026                                              | CUSIP: 126650DS6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10013.70     | 0.20%             | 2026-02-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                       | AMERICAN TOWER CORP 1.3% 09/15/2025                                        | CUSIP: 03027XBB5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11873.08     | 0.24%             | 2025-09-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2025-2         | GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2025-2 4.4% 02/16/2028          | CUSIP: 362549AB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     15000 | PA      | $14991.77     | 0.30%             | 2028-02-16      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                          | CROWN CASTLE INC 1.05% 07/15/2026                                          | CUSIP: 22822VAV3<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     19000 | PA      | $18224.02     | 0.36%             | 2026-07-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                    | MARVELL TECHNOLOGY INC 1.65% 04/15/2026                                    | CUSIP: 573874AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $14614.05     | 0.29%             | 2026-04-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| AT and T INC                                              | AT and T INC 1.7% 03/25/2026                                               | CUSIP: 00206RML3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21485.03     | 0.43%             | 2026-03-25      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| US BANCORP DEL                                            | US BANCORP DEL 6.787%/VAR 10/26/2027                                       | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19563.44     | 0.39%             | 2027-10-26      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                              | ENBRIDGE INC 5.9% 11/15/2026                                               | CUSIP: 29250NBW4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $10168.43     | 0.20%             | 2026-11-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                            | MORGAN STANLEY 4.679%/VAR 07/17/2026                                       | CUSIP: 61747YET8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44993.95     | 0.90%             | 2026-07-17      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO and CO                                        | WELLS FARGO and CO NEW 3% 10/23/2026                                       | CUSIP: 949746SH5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14696.84     | 0.29%             | 2026-10-23      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| TRANSCONTINENTAL GAS PIPE LINE CO LLC                     | TRANSCONTINENTAL GAS LINE LLC 7.85% 02/01/2026                             | CUSIP: 893574AH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11135.60     | 0.22%             | 2026-02-01      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS INC                                 | ROGERS COMMUNICATIONS INC 3.625% 12/15/2025                                | CUSIP: 775109BE0<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $11923.02     | 0.24%             | 2025-12-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO RECEIVABLES TR 2023-D                     | WORLD OMNI AUTO RECEIVABLES TR 2023-D 5.91% 02/16/2027                     | CUSIP: 98164DAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1375 | PA      | $1377.30      | 0.03%             | 2027-02-16      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MTLRF 2025-1A                                             | MTLRF 2025-1A 4.7% 12/16/2027 144A                                         | CUSIP: 55340QAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000 | PA      | $5006.24      | 0.10%             | 2027-12-16      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-ROIC                                        | BX Trust 2025-ROIC VAR 03/15/2030 144A                                     | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000 | PA      | $9925.00      | 0.20%             | 2030-03-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                               | BANK OF AMERICA CORPORATION 1.734%/VAR 07/22/2027                          | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14509.46     | 0.29%             | 2027-07-22      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN AUTO LEASE TR 2024-A                           | VOLKSWAGEN AUTO LSE TRUST 5.21% 06/21/2027                                 | CUSIP: 92866EAD1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20163.38     | 0.40%             | 2027-06-21      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                             | CITIGROUP INC 3.2% 10/21/2026                                              | CUSIP: 172967KY6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14729.43     | 0.29%             | 2026-10-21      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| NXP B V/NXP FDG LLC/NXP USA INC                           | NXP B V/NXP FDG LLC/NXP USA INC 3.875% 06/18/2026                          | CUSIP: 62954HAZ1<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |     20000 | PA      | $19837.46     | 0.40%             | 2026-06-18      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BOFA AUTO TRUST 2025-1                                    | BOFA AUTO TRUST 2025-1 4.52% 11/22/2027 144A                               | CUSIP: 05594BAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000 | PA      | $4996.28      | 0.10%             | 2027-11-22      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| THE TORONTO DOMINION BANK                                 | TORONTO DOMINION BANK 1.25% 09/10/2026                                     | CUSIP: 89114TZG0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     18000 | PA      | $17278.21     | 0.34%             | 2026-09-10      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE CO                             | HEWLETT PACKARD ENTERPRISE CO 4.45% 09/25/2026                             | CUSIP: 42824CBR9<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32951.77     | 0.66%             | 2026-09-25      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI SELECT AUTO TR 2024-A                          | WORLD OMNI SELECT AUTO TR 2024-A 5.37% 02/15/2028                          | CUSIP: 98164LAB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4656 | PA      | $4666.98      | 0.09%             | 2028-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOBAL FUNDING                                 | COREBRIDGE GLOBAL FUNDING 5.75% 07/02/2026 144A                            | CUSIP: 00138CAU2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11139.09     | 0.22%             | 2026-07-02      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| SFS AUTO RECEIVABLES SECURITIZATION TR 2024-2             | SFS AUTO RECEIVABLES SECURITIZATION TR 2024-2 5.71% 10/20/2027 144A        | CUSIP: 78397XAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      3624 | PA      | $3633.15      | 0.07%             | 2027-10-20      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| HYUNDAI AUTO RECEIVABLES TRUST 2024-C                     | HYUNDAI AUTO RECEIVABLES TRUST 2024-C 4.53% 09/15/2027                     | CUSIP: 448976AB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      7407 | PA      | $7405.53      | 0.15%             | 2027-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DLLAA 2023-1A                                             | DLLAA 2023-1A 5.93% 07/20/2026 144A                                        | CUSIP: 23292HAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |       259 | PA      | $259.16       | 0.01%             | 2026-07-20      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE                        | CANADIAN IMPERIAL BK OF COMM 5.926% 10/02/2026                             | CUSIP: 13607LWT6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15274.47     | 0.30%             | 2026-10-02      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS and ELECTRIC CO                               | PACIFIC GAS and ELECTRIC CO 3.5% 06/15/2025                                | CUSIP: 694308HM2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11990.59     | 0.24%             | 2025-06-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | TRUIST FINANCIAL CORP 4.26%/VAR 07/28/2026                                 | CUSIP: 89788MAH5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27967.97     | 0.56%             | 2026-07-28      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                              | NISOURCE INC 0.95% 08/15/2025                                              | CUSIP: 65473PAK1<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11906.94     | 0.24%             | 2025-08-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS LLC                              | DISCOVERY COMMUNICATIONS LLC 4.9% 03/11/2026                               | CUSIP: 25470DAL3<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     19000 | PA      | $18971.14     | 0.38%             | 2026-03-11      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GM FINANCIAL AUTOMOBILE LEASING TRUST 2025-1              | GM FINANCIAL AUTOMOBILE LEASING TRUST 2025-1 4.66% 02/21/2028              | CUSIP: 36271VAD9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20073.78     | 0.40%             | 2028-02-21      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO and CO                                        | WELLS FARGO and CO NEW 4.54%/VAR 08/15/2026                                | CUSIP: 95000U3C5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19991.90     | 0.40%             | 2026-08-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                  | MARS INC 4.45% 03/01/2027 144A                                             | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6005.81      | 0.12%             | 2027-03-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                          | LPL HOLDINGS INC 4.625% 11/15/2027 144A                                    | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14881.18     | 0.30%             | 2027-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO LEASE TRUST 2025-A                       | FORD CREDIT AUTO LEASE TRUST 2025-A 4.57% 08/15/2027                       | CUSIP: 345282AB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $9995.37      | 0.20%             | 2027-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                            | HOME DEPOT INC FRN SOFR+33 12/24/2025                                      | CUSIP: 437076CY6<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9009.05      | 0.18%             | 2025-12-24      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TOYOTA AUTO RECEIVABLES 2023-C OWNER TR                   | TOYOTA AUTO RECEIVABLES OWNER 5.6% 08/17/2026                              | CUSIP: 89231FAB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |       559 | PA      | $559.69       | 0.01%             | 2026-08-17      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                      | ROYAL BANK OF CANADA FRN SOFRINDX+79 07/23/2027                            | CUSIP: 78016HZY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $20029.42     | 0.40%             | 2027-07-23      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| SBNA AUTO LEASE TRUST 2025-A                              | SBNA AUTO LEASE TRUST 2025-A 4.83% 04/20/2028 144A                         | CUSIP: 78437KAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20052.39     | 0.40%             | 2028-04-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                       | AMERICAN TOWER CORP 4% 06/01/2025                                          | CUSIP: 03027XAG5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11000.00     | 0.22%             | 2025-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CARVANA AUTO RECEIVABLES TR 2025-P1                       | CARVANA AUTO RECEIVABLES TR 2025-P1 4.5% 06/12/2028                        | CUSIP: 14689MAB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $9983.97      | 0.20%             | 2028-06-12      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                   | BANK OF NOVA SCOTIA 5.35% 12/07/2026                                       | CUSIP: 06418JAA9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     18000 | PA      | $18222.30     | 0.36%             | 2026-12-07      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                   | HYUNDAI CAP AMER 5.8% 06/26/2025 144A                                      | CUSIP: 44891ACF2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15006.84     | 0.30%             | 2025-06-26      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DLLST 2024-1 LLC                                          | DLLST 2024-1 LLC 5.05% 08/20/2027 144A                                     | CUSIP: 23346HAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20055.93     | 0.40%             | 2027-08-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| EMERA US FINANCE LP                                       | EMERA US FINANCE LP 3.55% 06/15/2026                                       | CUSIP: 29103DAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11840.55     | 0.24%             | 2026-06-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ALLY AUTO RECEIVABLES TRUST 2024-1                        | ALLY AUTO RECEIVABLES TRUST 2024-1 5.32% 01/15/2027                        | CUSIP: 02008FAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1899 | PA      | $1900.44      | 0.04%             | 2027-01-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TOYOTA LEASE OWNER TRUST 2025-A                           | TOYOTA LEASE OWNER TRUST 2025-A 4.58% 07/20/2027 144A                      | CUSIP: 89239NAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $10011.87     | 0.20%             | 2027-07-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                   | BANK OF NOVA SCOTIA 2.7% 08/03/2026                                        | CUSIP: 064159QE9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19611.61     | 0.39%             | 2026-08-03      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES 2023-2 OWNER TRUST                 | HONDA AUTO RECEIVABLES 2023-2 OWNER TRUST 4.93% 11/15/2027                 | CUSIP: 437927AC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     14236 | PA      | $14269.49     | 0.28%             | 2027-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL QUE                                      | BANK OF MONTREAL QUE 4.567%/VAR 09/10/2027                                 | CUSIP: 06368L8K5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19983.69     | 0.40%             | 2027-09-10      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-3             | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-3 5.91% 06/15/2027             | CUSIP: 80287LAB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1390 | PA      | $1391.54      | 0.03%             | 2027-06-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                  | VISTRA OPERATIONS CO LLC 5.05% 12/30/2026 144A                             | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      3000 | PA      | $3007.82      | 0.06%             | 2026-12-30      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                   | HCA INC 5.875% 02/15/2026                                                  | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7014.54      | 0.14%             | 2026-02-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE OWNER TRUST 2024                               | JOHN DEERE OWNER TRUST 2024 5.19% 02/16/2027                               | CUSIP: 47800RAB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4588 | PA      | $4594.84      | 0.09%             | 2027-02-16      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                            | AIR LEASE CORP 2.875% 01/15/2026                                           | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15809.51     | 0.32%             | 2026-01-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| TOYOTA AUTO RECEIVABLES 2025-B OWNER TR                   | TOYOTA AUTO RECEIVABLES 2025-B OWNER TR 4.46% 03/15/2028                   | CUSIP: 89231HAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20006.52     | 0.40%             | 2028-03-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                                    | BOSTON SCIENTIFIC CORP 1.9% 06/01/2025                                     | CUSIP: 101137AZ0<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |     37000 | PA      | $37000.00     | 0.74%             | 2025-06-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| GMF LEASING LLC                                           | GMF LEASING LLC 4.55% 07/20/2027                                           | CUSIP: 362962AB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     15000 | PA      | $14997.18     | 0.30%             | 2027-07-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                             | GOLDMAN SACHS GROUP INC (THE) FRN SOFR+129 04/23/2028                      | CUSIP: 38141GC85<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20122.41     | 0.40%             | 2028-04-23      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                     | ATHENE GLOBAL FUNDING 4.95% 01/07/2027 144A                                | CUSIP: 04685A4E8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15038.79     | 0.30%             | 2027-01-07      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE GLOBAL FUNDING                   | EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 1% 01/09/2026 144A                 | CUSIP: 29449WAE7<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11746.10     | 0.23%             | 2026-01-09      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                         | EVERSOURCE ENERGY 4.75% 05/15/2026                                         | CUSIP: 30040WAV0<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11012.42     | 0.22%             | 2026-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                               | BANK OF AMERICA CORPORATION 3.559%/VAR 04/23/2027                          | CUSIP: 06051GHT9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44539.03     | 0.89%             | 2027-04-23      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| WESTERN UNION CO/THE                                      | WESTERN UN CO 1.35% 03/15/2026                                             | CUSIP: 959802AZ2<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11667.69     | 0.23%             | 2026-03-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                   | BANK OF NOVA SCOTIA 2.951% 03/11/2027                                      | CUSIP: 06418BAE8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $14630.33     | 0.29%             | 2027-03-11      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FIN CORP                                        | BUNGE LTD FIN CORP 3.25% 08/15/2026                                        | CUSIP: 120568AX8<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14769.84     | 0.29%             | 2026-08-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                          | CROWN CASTLE INC 1.35% 07/15/2025                                          | CUSIP: 22822VAS0<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11947.29     | 0.24%             | 2025-07-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                      | KRAFT HEINZ FOODS CO 3% 06/01/2026                                         | CUSIP: 50077LAD8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17721.87     | 0.35%             | 2026-06-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| TOYOTA AUTO RECEIVABLES 2023-D OWNER TR                   | TOYOTA AUTO RECEIVABLES 2023-D OWNER TR 5.8% 11/16/2026                    | CUSIP: 89239FAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      2387 | PA      | $2390.71      | 0.05%             | 2026-11-16      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                                | CAPITAL ONE FINANCIAL CORP 4.985%/VAR 07/24/2026                           | CUSIP: 14040HCU7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29999.77     | 0.60%             | 2026-07-24      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | TRUIST FINANCIAL CORP 6.047%/VAR 06/08/2027                                | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19245.29     | 0.38%             | 2027-06-08      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| SPRINT CORP                                               | SPRINT CORP 7.625% 03/01/2026                                              | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19208.86     | 0.38%             | 2026-03-01      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                                | MATTEL INC 3.375% 04/01/2026 144A                                          | CUSIP: 577081BE1<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11815.07     | 0.24%             | 2026-04-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                            | AIR LEASE CORP 3.375% 07/01/2025                                           | CUSIP: 00914AAH5<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11984.63     | 0.24%             | 2025-07-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| DELL INTERNATIONAL LLC / EMC CORP                         | DELL INTL/EMC CORP 6.02% 06/15/2026                                        | CUSIP: 24703TAD8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15138.92     | 0.30%             | 2026-06-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST 2025-1                            | CARMAX AUTO OWNER TR 2025-1 4.63% 03/15/2028                               | CUSIP: 14319WAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $9996.71      | 0.20%             | 2028-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO RECEIVABLES TRUST 2025-A                  | WORLD OMNI AUTO RECEIVABLES TRUST 2025-A 4.49% 04/17/2028                  | CUSIP: 98164YAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $9997.47      | 0.20%             | 2028-04-17      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                      | KEURIG DR PEPPER INC FRN SOFR+58 11/15/2026                                | CUSIP: 49271VAY6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17025.33     | 0.34%             | 2026-11-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                          | T-MOBILE USA INC 1.5% 02/15/2026                                           | CUSIP: 87264ABZ7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9766.66      | 0.19%             | 2026-02-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                 | UST NOTES 3.5% 09/30/2026                                                  | CUSIP: 91282CLP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    329900 | PA      | $327580.39    | 6.53%             | 2026-09-30      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                       | AMERICAN EXPRESS CO 6.338%/VAR 10/30/2026                                  | CUSIP: 025816DL0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16109.55     | 0.32%             | 2026-10-30      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| AT and T INC                                              | AT and T INC 3.875% 01/15/2026                                             | CUSIP: 00206RHT2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10936.58     | 0.22%             | 2026-01-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GENERAL MTRS FINL CO INC                                  | GENERAL MTRS FINL CO INC 5.4% 04/06/2026                                   | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     41000 | PA      | $41120.85     | 0.82%             | 2026-04-06      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL FDG                              | JACKSON NATL LIFE GLOBAL FDG 3.05% 04/29/2026 144A                         | CUSIP: 46849LSQ5<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |     41000 | PA      | $40453.09     | 0.81%             | 2026-04-29      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| FORDO 2024-B                                              | FORDO 2024-B 5.4% 04/15/2027                                               | CUSIP: 34531QAB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5072 | PA      | $5085.69      | 0.10%             | 2027-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                             | GOLDMAN SACHS GROUP INC (THE) 5.798%/VAR 08/10/2026                        | CUSIP: 38145GAM2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45082.99     | 0.90%             | 2026-08-10      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO LEASE TRUST 2025-A                     | MERCEDES-BENZ AUTO LEASE TRUST 2025-A 4.57% 04/17/2028                     | CUSIP: 58768YAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $10017.79     | 0.20%             | 2028-04-17      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                              | Fidelity Cash Central Fund                                                 | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    114766 | NS      | $114788.80    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                               | BANK OF AMERICA CORPORATION 5.08%/VAR 01/20/2027                           | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15031.50     | 0.30%             | 2027-01-20      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                                 | UST BILLS 0% 08/07/2025                                                    | CUSIP: 912797MG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $297673.50    | 5.93%             | 2025-08-07      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AES CORP                                                  | AES CORP 1.375% 01/15/2026                                                 | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11727.47     | 0.23%             | 2026-01-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                   | HCA INC 5.25% 06/15/2026                                                   | CUSIP: 404119BT5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19019.99     | 0.38%             | 2026-06-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO RECEIVABLES TR 2023-C                     | WORLD OMNI AUTO RECEIVABLES TR 2023-C 5.57% 12/15/2026                     | CUSIP: 98164FAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |       100 | PA      | $100.29       | 0.00%             | 2026-12-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                           | CVS HEALTH CORP 3.625% 04/01/2027                                          | CUSIP: 126650DH0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14740.24     | 0.29%             | 2027-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COS INC                                          | WILLIAMS COS INC 5.4% 03/02/2026                                           | CUSIP: 969457CH1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5024.92      | 0.10%             | 2026-03-02      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO RECEIVABLES TR 2024-B                     | WORLD OMNI AUTO RECEIVABLES TR 2024-B 5.48% 09/15/2027                     | CUSIP: 98164HAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      3429 | PA      | $3435.29      | 0.07%             | 2027-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE GLOBAL FUNDING                   | EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 5.5% 12/02/2025 144A               | CUSIP: 29449WAP2<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36145.28     | 0.72%             | 2025-12-02      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| JERSEY CENTRAL POWR and LIGHT CO                          | JERSEY CENTRAL POWR and LIGHT CO 4.3% 01/15/2026 144A                      | CUSIP: 476556DC6<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10964.98     | 0.22%             | 2026-01-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                   | HYUNDAI CAP AMER 6.25% 11/03/2025 144A                                     | CUSIP: 44891ACQ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11055.70     | 0.22%             | 2025-11-03      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                  | EQT CORP 3.125% 05/15/2026 144A                                            | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41242.00     | 0.82%             | 2026-05-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST 2024-D                       | FORD CREDIT AUTO OWNER TRUST 2024-D 4.59% 10/15/2027                       | CUSIP: 34535VAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000 | PA      | $5000.88      | 0.10%             | 2027-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | TRUIST FINANCIAL CORP 1.267%/VAR 03/02/2027                                | CUSIP: 89788MAD4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11676.76     | 0.23%             | 2027-03-02      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| DLLAD 2024-1 LLC                                          | DLLAD 2024-1 LLC 5.5% 08/20/2027 144A                                      | CUSIP: 23346MAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      3009 | PA      | $3021.04      | 0.06%             | 2027-08-20      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE and CO                                     | JPMORGAN CHASE and CO 3.96%/VAR 01/29/2027                                 | CUSIP: 46647PBA3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11949.72     | 0.24%             | 2027-01-29      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG LLC                                        | NXP BV/NXP FDG LLC 5.35% 03/01/2026                                        | CUSIP: 62947QBB3<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |     15000 | PA      | $15077.22     | 0.30%             | 2026-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| EAST OHIO GAS CO/THE                                      | EAST OHIO GAS CO/THE 1.3% 06/15/2025 144A                                  | CUSIP: 27409LAA1<br>LEI: BC95Y6MXLT75BGO7UM71 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11984.00     | 0.24%             | 2025-06-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE GLOBAL FUNDING                   | EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 1.3% 07/12/2026 144A               | CUSIP: 29449W7M3<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7725.87      | 0.15%             | 2026-07-12      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| US BANCORP DEL                                            | US BANCORP DEL 5.727%/VAR 10/21/2026                                       | CUSIP: 91159HJH4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19071.49     | 0.38%             | 2026-10-21      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| NASDAQ INC                                                | NASDAQ INC 5.65% 06/28/2025                                                | CUSIP: 63111XAG6<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |      2000 | PA      | $2000.23      | 0.04%             | 2025-06-28      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                 | UST NOTES 4.125% 01/31/2027                                                | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     50000 | PA      | $50113.28     | 1.00%             | 2027-01-31      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CITIZENS AUTO RECEIVABLES TRUST 2024-2                    | CITIZENS AUTO RECEIVABLES TRUST 2024-2 5.54% 11/16/2026 144A               | CUSIP: 17331XAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      3576 | PA      | $3580.89      | 0.07%             | 2026-11-16      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                            | MORGAN STANLEY 1.512%/VAR 07/20/2027                                       | CUSIP: 61747YEC5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19297.27     | 0.38%             | 2027-07-20      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL FLAVORS and FRAGRANCES INC                  | INTERNATIONAL FLAVS and FRAG INC 1.23% 10/01/2025 144A                     | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8888.24      | 0.18%             | 2025-10-01      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| SFS AUTO RECEIVABLES SECURITIZATION TRUST 2023-1          | SFS AUTO RECEIVABLES SECURITIZATION TRUST 2023-1 5.47% 10/20/2028 144A     | CUSIP: 78398AAD5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     19198 | PA      | $19315.27     | 0.39%             | 2028-10-20      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                               | ORACLE CORP 5.8% 11/10/2025                                                | CUSIP: 68389XCF0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10052.55     | 0.20%             | 2025-11-10      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BX 2021-MFM1                                              | BX 2021-MFM1 A TSFR1M+81.448 01/15/2034 144A                               | CUSIP: 05608VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17145 | PA      | $17134.14     | 0.34%             | 2034-01-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| MBART 2025-1                                              | MERCEDES-BENZ AUTO RECEIVABLES TR 2025-1 4.5% 02/15/2028                   | CUSIP: 58773DAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000 | PA      | $9990.88      | 0.20%             | 2028-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                   | MPLX LP 1.75% 03/01/2026                                                   | CUSIP: 55336VBR0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11729.95     | 0.23%             | 2026-03-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL QUE                                      | BANK OF MONTREAL QUE 0.949%/VAR 01/22/2027                                 | CUSIP: 06368EDC3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $11711.55     | 0.23%             | 2027-01-22      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| TRANE TECHNOLOGIES FINANCING LTD                          | TRANE TECHNOLOGIES FINANCING LTD 3.5% 03/21/2026                           | CUSIP: 456873AE8<br>LEI: 549300A5OEF3CJI2CO89 | Long             | DBT              | CORP              | IE        |     12000 | PA      | $11912.12     | 0.24%             | 2026-03-21      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| 7 ELEVEN INC                                              | 7 ELEVEN INC 0.95% 02/10/2026 144A                                         | CUSIP: 817826AC4<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11678.53     | 0.23%             | 2026-02-10      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST 2024-1 | GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST 2024-1 5.12% 02/16/2027 | CUSIP: 36268GAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1995 | PA      | $1997.39      | 0.04%             | 2027-02-16      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAP PLC                                   | GLAXOSMITHKLINE CAP PLC FRN SOFR+50 03/12/2027                             | CUSIP: 377373AN5<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |     17000 | PA      | $17040.97     | 0.34%             | 2027-03-12      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC                                 | L3HARRIS TECHNOLOGIES INC 3.85% 12/15/2026                                 | CUSIP: 502431AL3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17829.16     | 0.36%             | 2026-12-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2023-2           | CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2023-2 5.91% 10/15/2026           | CUSIP: 14044EAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      2563 | PA      | $2565.39      | 0.05%             | 2026-10-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DLLAA 2023-1A                                             | DLLAA 2023-1A 5.64% 02/22/2028 144A                                        | CUSIP: 23292HAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20226.02     | 0.40%             | 2028-02-22      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING LP                                | DCP MIDSTREAM OPER LP 5.375% 07/15/2025                                    | CUSIP: 23311VAG2<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11002.79     | 0.22%             | 2025-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2024-1                | VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2024-1 4.65% 11/22/2027                | CUSIP: 92868RAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     19856 | PA      | $19865.88     | 0.40%             | 2027-11-22      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                               | ORACLE CORP 2.65% 07/15/2026                                               | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22518.11     | 0.45%             | 2026-07-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| WOART 2025-B                                              | WOART 2025-B 4.38% 08/15/2028                                              | CUSIP: 98164TAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     15000 | PA      | $14982.50     | 0.30%             | 2028-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| THE TORONTO DOMINION BANK                                 | TORONTO DOMINION BANK FRN SOFR+62 12/17/2026                               | CUSIP: 89115A3B6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15011.25     | 0.30%             | 2026-12-17      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO RECEIVABLES TRUST 2023-C                  | WORLD OMNI AUTO RECEIVABLES TRUST 2023-C 5.15% 11/15/2028                  | CUSIP: 98164FAD4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20067.88     | 0.40%             | 2028-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE and CO                                     | JPMORGAN CHASE and CO 6.07%/VAR 10/22/2027                                 | CUSIP: 46647PDW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15311.44     | 0.31%             | 2027-10-22      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| CARVANA AUTO RECEIVABLES TRUST 2024-P4                    | CARVANA AUTO RECEIVABLES TRUST 2024-P4 4.62% 02/10/2028                    | CUSIP: 14076LAB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4132 | PA      | $4130.28      | 0.08%             | 2028-02-10      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CAPTIAL ONE MULTI-ASSET EXECUT                            | CAPITAL ONE MULTI-ASST EXEC TR 2.06% 08/15/2028                            | CUSIP: 14041NFV8<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-CBDO         | CORP              | US        |     25000 | PA      | $24310.61     | 0.48%             | 2028-08-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| SBNA AUTO LEASE TRUST 2024-B                              | SBNA AUTO LEASE TRUST 2024-B 5.56% 11/22/2027 144A                         | CUSIP: 78437VAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $20166.18     | 0.40%             | 2027-11-22      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GM FINANCIAL AUTOMOBILE LEASING TRUST 2025-1              | GM FINANCIAL AUTOMOBILE LEASING TRUST 2025-1 VAR 05/20/2027                | CUSIP: 36271VAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     25000 | PA      | $25015.94     | 0.50%             | 2027-05-20      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                    | ROPER TECHNOLOGIES INC 3.8% 12/15/2026                                     | CUSIP: 776743AD8<br>LEI: 549300LJXD867XMVE759 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22794.52     | 0.45%             | 2026-12-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE                        | CANADIAN IMPERIAL BK OF COMM 5.615% 07/17/2026                             | CUSIP: 13607LSL8<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15189.55     | 0.30%             | 2026-07-17      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                                 | UST BILLS 0% 08/26/2025                                                    | CUSIP: 912797QL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $99001.49     | 1.97%             | 2025-08-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                             | CITIGROUP INC 1.462%/VAR 06/09/2027                                        | CUSIP: 172967NA5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7733.68      | 0.15%             | 2027-06-09      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                                 | UST BILLS 0% 09/04/2025                                                    | CUSIP: 912797MH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    313700 | PA      | $310242.14    | 6.19%             | 2025-09-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SVCS CORP                                | CATERPILLAR FINL SVCS CORP FRN SOFR+69 10/16/2026                          | CUSIP: 14913UAP5<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20080.80     | 0.40%             | 2026-10-16      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| CITIZENS AUTO RECEIVABLES TRUST 2024-1                    | CITIZENS AUTO RECEIVABLES TRUST 2024-1 5.43% 10/15/2026 144A               | CUSIP: 17331QAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      2215 | PA      | $2217.45      | 0.04%             | 2026-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FUNDING LTD                               | AVOLON HOLDINGS FUNDING LTD 4.375% 05/01/2026 144A                         | CUSIP: 05401AAG6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     15000 | PA      | $14898.93     | 0.30%             | 2026-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                       | AMERICAN TOWER CORP 1.6% 04/15/2026                                        | CUSIP: 03027XBL3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11680.76     | 0.23%             | 2026-04-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                         | STATE STREET CORP FRN SOFR+95 04/24/2028                                   | CUSIP: 857477CZ4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7035.91      | 0.14%             | 2028-04-24      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE and CO                                     | JPMORGAN CHASE and CO FRN SOFR+88.5 04/22/2027                             | CUSIP: 46647PCF1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15037.66     | 0.30%             | 2027-04-22      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| ROSS STORES INC                                           | ROSS STORES INC 0.875% 04/15/2026                                          | CUSIP: 778296AF0<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14537.70     | 0.29%             | 2026-04-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| BANK NEW YORK MELLON CORP                                 | BANK NEW YORK MELLON CORP 4.414%/VAR 07/24/2026                            | CUSIP: 06406RBJ5<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     41000 | PA      | $40970.49     | 0.82%             | 2026-07-24      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD                            | CANADIAN NATL RESOURCES LTD 2.05% 07/15/2025                               | CUSIP: 136385AZ4<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $11960.46     | 0.24%             | 2025-07-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TR                       | SANTANDER DRIVE AUTO RECEIVABLES TR 4.74% 01/16/2029                       | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000 | PA      | $5003.97      | 0.10%             | 2029-01-16      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                         | STATE STREET CORP 5.751%/VAR 11/04/2026                                    | CUSIP: 857477BX0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20092.71     | 0.40%             | 2026-11-04      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO LEASE TR 2024-B                        | MERCEDES-BENZ AUTO LEASE TR 2024-B 4.89% 02/15/2028                        | CUSIP: 58769GAD5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20000 | PA      | $19934.21     | 0.40%             | 2028-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Laura M. Del Prato

**Signature:** Laura M. Del Prato

**Name of Signer:** Laura M. Del Prato

**Title:** President and Treasurer