# EDGAR Filing Document

**Accession Number:** 0001137360
**File Stem:** 0001752724-23-072055
**Filing Date:** 2023-3
**Character Count:** 95951
**Document Hash:** 6f01fe7f0c12e2965b78e572702110d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-072055.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-072055

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VanEck ETF Trust
- **CENTRAL INDEX KEY:** 0001137360
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10325
- **FILM NUMBER:** 23774197

**BUSINESS ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-293-2000

**MAIL ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VanEck Vectors ETF Trust
- **DATE OF NAME CHANGE:** 20160427

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS ETF TRUST
- **DATE OF NAME CHANGE:** 20070312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS TRUST
- **DATE OF NAME CHANGE:** 20050516

## Series and Classes Contracts Data

### VanEck Moody's Analytics BBB Corporate Bond ETF (Series ID: S000069557)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000221911 | VanEck Moody's Analytics BBB Corporate Bond ETF | MBBB            |

## Nport-Ex

VANECK MOODY'S ANALYTICS BBB CORPORATE BOND ETF

SCHEDULE OF INVESTMENTS

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Par <br> (000's** | **Value** |
| **CORPORATE BONDS: 98.4%** |  |  |
| **Bermuda: 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arch Capital Group Ltd.<br> 3.64%, 06/30/50 | $25 | $18881 |
| **Canada: 5.4%** |  |  |
| Alimentation Couche-Tard, Inc. 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 07/26/27 | 40 | 37743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 01/25/50 | 25 | 18736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of Nova Scotia<br> 4.59% (US Treasury Yield Curve Rate T 5 Year+2.05%), 05/04/37 | 50 | 45118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd.<br> 6.25%, 03/15/38 | 25 | 26797 |
| Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 12/02/26 | 75 | 67930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12%, 09/15/15 | 25 | 27514 |
| CI Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 12/17/30 | 25 | 19572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 06/15/51 | 25 | 15818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emera US Finance LP<br> 4.75%, 06/15/46 | 25 | 21061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc.<br> 3.12%, 11/15/29 | 75 | 67675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. 144A<br> 5.62%, 08/16/32 | 25 | 24356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortis, Inc.<br> 3.06%, 10/04/26 | 50 | 46974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Open Text Corp. 144A<br> 6.90%, 12/01/27 | 25 | 25621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spectra Energy Partners LP<br> 4.75%, 03/15/24 | 25 | 24906 |
|  |  | 469821 |
| **Denmark: 1.2%** |  |  |
| Danske Bank A/S 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77% (US Treasury Yield Curve Rate T 1 Year+1.45%), 03/28/25 | 50 | 48795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30% (US Treasury Yield Curve Rate T 1 Year+1.75%), 04/01/28 | 50 | 48208 |
|  |  | 97003 |
| **France: 7.3%** |  |  |
| BNP Paribas SA 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.59% (US Treasury Yield Curve Rate T 5 Year+2.05%), 08/12/35 | 85 | 66874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 09/28/25 | 50 | 49036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Agricole SA 144A<br> 4.38%, 03/17/25 | 100 | 97907 |
| Societe Generale SA 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.79% (US Treasury Yield Curve Rate T 1 Year+1.00%), 06/09/27 | 50 | 44332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 10/16/24 | 50 | 47703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 01/22/25 | 50 | 47478 |

---

---

| | | |
|:---|:---|:---|
|  | **Par <br> (000's** | **Value** |
| **France (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/22/30 | $50 | $42416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62%, 03/01/41 | 100 | 70933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 04/14/25 | 50 | 48466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/14/28 | 50 | 48872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.22% (US Treasury Yield Curve Rate T 1 Year+3.20%), 06/15/33 | 50 | 49712 |
|  |  | 613729 |
| **Guernsey: 2.1%** |  |  |
| Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/26/25 | 100 | 93890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 04/17/26 | 50 | 46478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 05/15/45 † | 50 | 41465 |
|  |  | 181833 |
| **Italy: 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UniCredit SpA 144A<br> 3.13% (US Treasury Yield Curve Rate T 1 Year+1.55%), 06/03/32 | 50 | 40597 |
| **Mexico: 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Infraestructura Energetica Nova SAPI de CV 144A<br> 4.75%, 01/15/51 | 50 | 39264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sitios Latinoamerica SAB de CV 144A<br> 5.38%, 04/04/32 | 25 | 23342 |
|  |  | 62606 |
| **Netherlands: 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABN AMRO Bank NV 144A<br> 3.32% (US Treasury Yield Curve Rate T 5 Year+1.90%), 03/13/37 | 50 | 38933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Telekom International Finance BV<br> 8.75%, 06/15/30 | 75 | 91693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enel Finance International NV 144A<br> 5.00%, 06/15/32 | 50 | 47696 |
| Prosus NV 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.06%, 07/13/31 | 50 | 40071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.68%, 01/21/30 | 50 | 43298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 01/19/52 | 50 | 38632 |
|  |  | 300323 |
| **Switzerland: 2.3%** |  |  |
| Credit Suisse Group AG 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.09% (SOFR+1.73%), 05/14/32 † | 50 | 37846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.19% (SOFR+3.73%), 04/01/31 | 125 | 106015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.28%, 01/09/28 | 75 | 66102 |
|  |  | 209963 |
| **United Kingdom: 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays Plc<br> 2.65% (US Treasury Yield Curve Rate T 1 Year+1.90%), 06/24/31 | 175 | 144389 |

---

VANECK MOODY'S ANALYTICS BBB CORPORATE BOND ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
|  | **Par <br> (000's** | **Value** |
| **United Kingdom (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.33% (US Treasury Yield Curve Rate T 1 Year+1.30%), 11/24/42 | $50 | $37847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.81% (US Treasury Yield Curve Rate T 1 Year+1.70%), 03/10/42 | 50 | 37298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/17/45 | 50 | 50012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ferguson Finance Plc 144A<br> 4.50%, 10/24/28 | 25 | 24039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Chartered Plc 144A<br> 3.27% (US Treasury Yield Curve Rate T 5 Year+2.30%), 02/18/36 | 50 | 40424 |
|  |  | 334009 |
| **United States: 71.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7-Eleven, Inc. 144A<br> 0.80%, 02/10/24 | 50 | 47815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agilent Technologies, Inc.<br> 2.30%, 03/12/31 | 25 | 20993 |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/16/46 | 35 | 24873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/04/61 | 50 | 34601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/09/42 | 100 | 78630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 02/14/29 | 125 | 123762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 02/14/39 | 25 | 24121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 02/14/49 | 60 | 56805 |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 07/15/26 | 25 | 21861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 07/15/25 | 25 | 23549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 01/15/26 | 50 | 47057 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.90%, 03/25/24 | 50 | 47843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 06/01/60 | 75 | 57008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BAT Capital Corp.<br> 4.91%, 04/02/30 | 50 | 47414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bayer US Finance LLC 144A<br> 3.38%, 10/08/24 | 50 | 48677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton Dickinson and Co.<br> 3.36%, 06/06/24 | 75 | 73522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berry Global, Inc.<br> 1.57%, 01/15/26 | 50 | 45219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berry Global, Inc. 144A<br> 4.88%, 07/15/26 | 25 | 24382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brighthouse Financial, Inc.<br> 4.70%, 06/22/47 | 25 | 20369 |
| Broadcom, Inc. 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19%, 11/15/36 | 50 | 38271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.93%, 05/15/37 | 75 | 68920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlisle Cos, Inc.<br> 2.75%, 03/01/30 | 25 | 21634 |
| Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.49%, 02/15/27 | 50 | 46205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.72%, 02/15/30 | 50 | 43714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital<br> 4.50%, 02/01/24 | 25 | 24764 |

---

---

| | | |
|:---|:---|:---|
|  | **Par <br> (000's** | **Value** |
| **United States (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 07/23/25 | $125 | $124424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/30/29 | 125 | 121910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 07/01/49 | 20 | 16593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 05/01/47 | 75 | 64156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.48%, 10/23/45 | 75 | 73894 |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 11/15/29 | 50 | 46983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 06/30/27 | 50 | 50406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc.<br> 4.62%, 10/15/28 | 25 | 23835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conagra Brands, Inc.<br> 4.85%, 11/01/28 | 50 | 50133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc.<br> 2.25%, 08/01/31 | 50 | 41288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corning, Inc.<br> 5.45%, 11/15/79 | 25 | 24038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CoStar Group, Inc. 144A<br> 2.80%, 07/15/30 | 25 | 21147 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13% (SOFR+1.87%), 11/24/26 | 100 | 90259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55% (SOFR+3.04%), 09/18/31 | 50 | 43494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96% (SOFR+2.58%), 11/26/25 | 100 | 96900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duke Energy Corp.<br> 2.55%, 06/15/31 | 25 | 21230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc.<br> 2.62%, 11/18/24 | 25 | 24016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everest Reinsurance Holdings, Inc.<br> 3.12%, 10/15/52 | 50 | 34748 |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 07/01/26 | 50 | 47548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/01/29 | 50 | 46604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fresenius Medical Care US Finance III, Inc. 144A<br> 2.38%, 02/16/31 | 50 | 38010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FS KKR Capital Corp.<br> 3.40%, 01/15/26 | 50 | 45713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Mills, Inc.<br> 2.88%, 04/15/30 | 50 | 44718 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/15/51 | 25 | 17556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12%, 06/15/29 | 25 | 23780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 06/15/39 | 50 | 47201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/26 | 25 | 25041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/49 | 50 | 45784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/47 | 50 | 47645 |
| International Flavors & Fragrances, Inc. 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.83%, 10/15/27 | 50 | 43299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/01/30 | 25 | 20743 |
| Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 03/15/24 | 50 | 47785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 04/15/32 | 50 | 47431 |

---

---

| | | |
|:---|:---|:---|
|  | **Par <br> (000's)** | **Value** |
| **United States (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP<br> 5.50%, 03/01/44 | $25 | $24087 |
| Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/01/26 | 50 | 47615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/04/42 | 25 | 24100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/15/45 | 50 | 48974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 01/26/39 | 25 | 28468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. 144A<br> 7.12%, 08/01/39 | 25 | 28842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos, Inc.<br> 4.45%, 04/01/62 | 25 | 21146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McCormick & Co., Inc.<br> 3.40%, 08/15/27 | 25 | 23830 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 03/01/47 | 50 | 46570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/01/48 | 50 | 46820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 12/09/45 | 100 | 98932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 03/01/38 | 50 | 57126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midwest Connector Capital Co. LLC 144A<br> 3.90%, 04/01/24 | 25 | 24436 |
| Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 05/04/25 | 25 | 23380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 04/13/30 | 25 | 22282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/17/32 † | 25 | 22184 |
| Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 11/15/26 | 25 | 24846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/25 | 25 | 25392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 11/15/28 | 100 | 103993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc.<br> 2.94%, 03/21/24 | 75 | 73491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northrop Grumman Corp.<br> 2.93%, 01/15/25 | 25 | 24192 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/40 | 75 | 59506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/15/37 | 50 | 42089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 03/25/51 | 50 | 38917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/15/46 | 50 | 39698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 03/25/61 | 50 | 37935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/55 | 50 | 41331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 07/15/40 | 50 | 48949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12%, 07/08/39 | 25 | 26352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/15/38 | 75 | 82520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owl Rock Capital Corp.<br> 3.40%, 07/15/26 | 50 | 45174 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/01/31 | 100 | 80774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/16/24 | 25 | 24544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 07/01/25 | 50 | 47762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/01/50 | 50 | 33817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 07/01/28 | 50 | 45992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/01/40 | 100 | 82431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/01/50 | 50 | 41810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pernod Ricard International Finance LLC 144A<br> 1.62%, 04/01/31 | 25 | 19910 |

---

---

| | | |
|:---|:---|:---|
|  | **Par <br> (000's)** | **Value** |
| **United States (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic Services, Inc.<br> 2.50%, 08/15/24 | $50 | $48263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reynolds American, Inc.<br> 5.85%, 08/15/45 | 75 | 68668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roper Technologies, Inc.<br> 1.75%, 02/15/31 | 25 | 20078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sempra Energy<br> 4.12% (US Treasury Yield Curve Rate T 5 Year+2.87%), 04/01/52 | 25 | 21921 |
| Sherwin-Williams Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 06/01/27 | 50 | 48051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/01/47 | 50 | 45176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Co.<br> 3.25%, 07/01/26 | 50 | 47582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sun Communities Operating LP<br> 2.70%, 07/15/31 | 25 | 20603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time Warner Cable Enterprises LLC<br> 8.38%, 07/15/33 | 50 | 58690 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 05/01/37 | 25 | 25593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 07/01/38 | 100 | 107390 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/15/29 | 75 | 68464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/15/25 | 150 | 145718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/15/27 | 155 | 149171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/15/30 | 60 | 56228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tyson Foods, Inc.<br> 4.00%, 03/01/26 | 50 | 49197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals North America, Inc. 144A<br> 6.00%, 12/15/29 | 25 | 25407 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.85%, 11/20/25 | 25 | 22624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 03/20/26 | 75 | 68333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 03/21/31 | 50 | 42715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 08/15/26 | 25 | 23488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 02/08/29 | 25 | 24087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02%, 12/03/29 | 50 | 47977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12%, 03/16/27 | 100 | 98816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 09/21/28 | 50 | 49349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/10/33 | 50 | 48932 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 05/15/32 | 75 | 71848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.62%, 05/15/52 | 25 | 23497 |
| VICI Properties LP / VICI Note Co., Inc. 144A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/27 | 50 | 46259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/01/26 | 50 | 47252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.62%, 12/01/29 | 50 | 46626 |
| Westinghouse Air Brake Technologies Corp. |  |  |

---

VANECK MOODY'S ANALYTICS BBB CORPORATE BOND ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Par <br> (000's** | **Par <br> (000's** | **Value** |
| **United States (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 09/15/28 | $| 50 | $49710 |
|  |  |  | 6068251 |
| **Total Corporate Bonds**<br> (Cost: $9,001,593) |  |  | 8397016 |
|  |  | **Number**<br> **of Shares** |  |
| **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.2%** | **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.2%** | **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.2%** |  |
| **Money Market Fund: 0.2%**<br> (Cost: $21,062) |  |  |  |
| State Street Navigator Securities Lending Government Money Market Portfolio |  | 21062 | 21062 |
| **Total Investments: 98.6%**<br> (Cost: $9,022,655) |  |  | 8418078 |
| **Other assets less liabilities: 1.4%** |  |  | 118132 |
| **NET ASSETS: 100.0%** |  |  | $8536210 |

---

------

**Definitions:**

SOFR Secured Overnight Financing Rate <br> USD United States Dollar

**Footnotes:**

---

| | |
|:---|:---|
| † | Security fully or partially on loan. Total market value of securities on loan is $94,963. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $1,993,443, or 23.4% of net assets. |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Sector<br>Excluding Collateral for Securities Loaned** | **% of Investments** | **Value** |
| Financials | 25.7% | $2156635 |
| Technology | 24.0 | 2016082 |
| Consumer Non-Cyclicals | 13.0 | 1091671 |
| Consumer Cyclicals | 10.1 | 850951 |
| Utilities | 7.5 | 628653 |
| Industrials | 6.8 | 573672 |
| Healthcare | 4.6 | 388209 |
| Real Estate | 3.3 | 280101 |
| Energy | 3.0 | 248214 |
| Basic Materials | 2.0 | 162828 |
|  | 100.0% | $8397016 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VanEck ETF Trust

- **b. Investment Company Act file number:** 811-10325

- **c. CIK number of Registrant:** 0001137360

- **d. LEI of Registrant:** 549300ZLFKNTXC51ZN76

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

  - **Street Address 1:** 666 THIRD AVENUE, 9TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-293-2000

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

- **a. Name of Series:** VanEck Moody's Analytics BBB Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000069557

- **c. LEI of Series:** 5493002FPKIATTJEQ561

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $8559412.59

**Total Liabilities:** $22717.40

**Net Assets:** $8536695.19

**Cash Not Reported:** $60676.58

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -8.50000000 | **1-Year:** -481.04000000 | **5-Year:** -1465.29000000 | **10-Year:** -2357.10000000 | **30-Year:** -1467.05000000

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

- **3-Month:** -0.26000000 | **1-Year:** -17.98000000 | **5-Year:** -49.52000000 | **10-Year:** -45.86000000 | **30-Year:** -16.54000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000221911 | 5.13%                | 0.04%                | 4.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-236694.50              | $610473.78                                 |
| Month 2  | $-72283.51               | $47749.31                                  |
| Month 3  | $-59866.96               | $391459.13                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Time Warner Cable LLC        | Time Warner Cable LLC                                                           | CUSIP: 88732JAJ7<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25592.75     | 0.30%             | 2037-05-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                 | Broadcom Inc                                                                    | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38270.76     | 0.45%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VEU4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47976.98     | 0.56%             | 2029-12-03      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VEA8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48932.24     | 0.57%             | 2033-08-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83367TBG3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $99260.53     | 1.16%             | 2024-01-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC     | Constellation Brands Inc                                                        | CUSIP: 21036PBH0<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41287.90     | 0.48%             | 2031-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42714.74     | 0.50%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Berry Global Inc             | Berry Global Inc                                                                | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24381.75     | 0.29%             | 2026-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE       | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |     50000 | PA      | $46626.43     | 0.55%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC        | Time Warner Cable LLC                                                           | CUSIP: 88732JAN8<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107390.19    | 1.26%             | 2038-07-01      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC            | L3Harris Technologies Inc                                                       | CUSIP: 502431AM1<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24798.19     | 0.29%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY             | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CD9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     50000 | PA      | $43494.12     | 0.51%             | 2031-09-18      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance LLC         | Bayer US Finance LLC                                                            | CUSIP: 07274EAG8<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48676.50     | 0.57%             | 2024-10-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                  | Oracle Corp                                                                     | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38916.90     | 0.46%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV             | ABN AMRO Bank NV                                                                | CUSIP: 00084DAV2<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |     50000 | PA      | $38933.21     | 0.46%             | 2037-03-13      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83367TBJ7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $48465.79     | 0.57%             | 2025-04-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-Mobile USA Inc                                                                | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    155000 | PA      | $149172.37    | 1.75%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                 | Barclays PLC                                                                    | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $48342.26     | 0.57%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                  | Oracle Corp                                                                     | CUSIP: 68389XCB9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $37934.61     | 0.44%             | 2061-03-25      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA         | Sitios Latinoamerica SAB de CV                                                  | CUSIP: 03217KAB4<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     25000 | PA      | $23342.00     | 0.27%             | 2032-04-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC       | Pacific Gas and Electric Co                                                     | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41810.28     | 0.49%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP          | Carrier Global Corp                                                             | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43713.91     | 0.51%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA          | Bank of Nova Scotia/The                                                         | CUSIP: 06417XAG6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $45118.28     | 0.53%             | 2037-05-04      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                 | Broadcom Inc                                                                    | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68919.86     | 0.81%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                    | Prosus NV                                                                       | CUSIP: 74365PAJ7<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $77263.25     | 0.91%             | 2052-01-19      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP           | VICI Properties LP                                                              | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |     75000 | PA      | $71847.75     | 0.84%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES     | International Flavors & Fragrances Inc                                          | CUSIP: 459506AP6<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43299.10     | 0.51%             | 2027-10-15      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM      | United Rentals North America Inc                                                | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25406.50     | 0.30%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                      | HCA Inc                                                                         | CUSIP: 404119BY4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47200.94     | 0.55%             | 2039-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE TELEKOM INT FIN     | Deutsche Telekom International Finance BV                                       | CUSIP: 25156PAC7<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |     75000 | PA      | $91692.81     | 1.07%             | 2030-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG       | Credit Suisse Group AG                                                          | CUSIP: 225401AU2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |     50000 | PA      | $37846.47     | 0.44%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: —       |
| State Street Global Advisors | State Street Navigator Securities Lending Government Money Market Portfolio     | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |     20988 | NS      | $20987.50     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSUS NV                    | Prosus NV                                                                       | CUSIP: 74365PAF5<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |     50000 | PA      | $40070.79     | 0.47%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc             | Altria Group Inc                                                                | CUSIP: 02209SBE2<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24121.33     | 0.28%             | 2039-02-14      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL       | Mondelez International Inc                                                      | CUSIP: 609207BB0<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22184.24     | 0.26%             | 2032-03-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: —       |
| McDonald's Corp              | McDonald's Corp                                                                 | CUSIP: 58013MFA7<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98931.82     | 1.16%             | 2045-12-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO          | Sherwin-Williams Co/The                                                         | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45176.05     | 0.53%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES      | Canadian Natural Resources Ltd                                                  | CUSIP: 136385AL5<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $26796.62     | 0.31%             | 2038-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA           | Credit Agricole SA                                                              | CUSIP: 225313AF2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $97907.40     | 1.15%             | 2025-03-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XAH8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26352.03     | 0.31%             | 2039-07-08      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc        | Reynolds American Inc                                                           | CUSIP: 761713BB1<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68667.72     | 0.80%             | 2045-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CORNING INC                  | Corning Inc                                                                     | CUSIP: 219350BQ7<br>LEI: 549300X2937PB0CJ7I56 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24037.87     | 0.28%             | 2079-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S              | Danske Bank A/S                                                                 | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |     50000 | PA      | $48208.30     | 0.56%             | 2028-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AT&T INC                     | AT&T Inc                                                                        | CUSIP: 00206RMJ8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47843.42     | 0.56%             | 2024-03-25      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| 7-ELEVEN INC                 | 7-Eleven Inc                                                                    | CUSIP: 817826AB6<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47814.54     | 0.56%             | 2024-02-10      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE       | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              |  | US        |     50000 | PA      | $46258.53     | 0.54%             | 2027-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc             | Altria Group Inc                                                                | CUSIP: 02209SAM5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    100000 | PA      | $78629.83     | 0.92%             | 2042-08-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP      | Sun Communities Operating LP                                                    | CUSIP: 866677AE7<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              |  | US        |     25000 | PA      | $20602.90     | 0.24%             | 2031-07-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART      | Kinder Morgan Energy Partners LP                                                | CUSIP: 494550BU9<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24087.01     | 0.28%             | 2044-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO          | Sherwin-Williams Co/The                                                         | CUSIP: 824348AW6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48051.08     | 0.56%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BQ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24763.96     | 0.29%             | 2024-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                    | Prosus NV                                                                       | CUSIP: 74365PAA6<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |     50000 | PA      | $43297.56     | 0.51%             | 2030-01-21      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $124423.80    | 1.46%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL       | Mondelez International Inc                                                      | CUSIP: 609207AT2<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22281.67     | 0.26%             | 2030-04-13      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                 | Enbridge Inc                                                                    | CUSIP: 29250NAZ8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $67674.73     | 0.79%             | 2029-11-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co         | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAM8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48973.97     | 0.57%             | 2045-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                  | Equinix Inc                                                                     | CUSIP: 29444UBC9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |     25000 | PA      | $24016.34     | 0.28%             | 2024-11-18      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HCA INC                      | HCA Inc                                                                         | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23779.86     | 0.28%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| SPECTRA ENERGY PARTNERS      | Spectra Energy Partners LP                                                      | CUSIP: 84756NAD1<br>LEI: 2HKVXE7U4NF5B6UGSU72 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24906.29     | 0.29%             | 2024-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                  | Netflix Inc                                                                     | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24846.13     | 0.29%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN     | Brighthouse Financial Inc                                                       | CUSIP: 10922NAF0<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20369.33     | 0.24%             | 2047-06-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                 | Barclays PLC                                                                    | CUSIP: 06738EBW4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $37846.75     | 0.44%             | 2042-11-24      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC            | General Mills Inc                                                               | CUSIP: 370334CL6<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44717.53     | 0.52%             | 2030-04-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc             | Altria Group Inc                                                                | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123762.39    | 1.45%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC               | Lowe's Cos Inc                                                                  | CUSIP: 548661EF0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21145.70     | 0.25%             | 2062-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| MIDWEST CONNECTOR CAPIT      | Midwest Connector Capital Co LLC                                                | CUSIP: 59833CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24435.76     | 0.29%             | 2024-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FRESENIUS MED CARE III       | Fresenius Medical Care US Finance III Inc                                       | CUSIP: 35805BAB4<br>LEI: 5299006ZHLMXOOUVTU44 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38010.48     | 0.45%             | 2031-02-16      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC       | Pacific Gas and Electric Co                                                     | CUSIP: 694308JG3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $80773.73     | 0.95%             | 2031-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                | UniCredit SpA                                                                   | CUSIP: 904678AY5<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |     50000 | PA      | $40597.48     | 0.48%             | 2032-06-03      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                  | BNP Paribas SA                                                                  | CUSIP: 09659T2B6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     85000 | PA      | $66873.61     | 0.78%             | 2035-08-12      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                 | Barclays PLC                                                                    | CUSIP: 06738EBM6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $144388.93    | 1.69%             | 2031-06-24      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FORTIS INC                   | Fortis Inc/Canada                                                               | CUSIP: 349553AM9<br>LEI: 549300MQYQ9Y065XPR71 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $46973.58     | 0.55%             | 2026-10-04      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XAE5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $82519.56     | 0.97%             | 2038-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp              | McDonald's Corp                                                                 | CUSIP: 58013MFC3<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46570.48     | 0.55%             | 2047-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL       | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCD0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73491.46     | 0.86%             | 2024-03-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC       | Roper Technologies Inc                                                          | CUSIP: 776743AL0<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20078.16     | 0.24%             | 2031-02-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BS2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $16592.60     | 0.19%             | 2049-07-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC       | Standard Chartered PLC                                                          | CUSIP: 853254AK6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $46020.27     | 0.54%             | 2043-01-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XBW4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $59505.71     | 0.70%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC             | Altria Group Inc                                                                | CUSIP: 02209SBP7<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     50000 | PA      | $34601.27     | 0.41%             | 2061-02-04      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83368RAW2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $42416.41     | 0.50%             | 2030-01-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP            | CI Financial Corp                                                               | CUSIP: 125491AP5<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $15817.69     | 0.19%             | 2051-06-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VFS8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22623.86     | 0.27%             | 2025-11-20      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC       | Pacific Gas and Electric Co                                                     | CUSIP: 694308JL2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47762.34     | 0.56%             | 2025-07-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP          | Carrier Global Corp                                                             | CUSIP: 14448CAP9<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46205.39     | 0.54%             | 2027-02-15      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP               | Open Text Corp                                                                  | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $25620.63     | 0.30%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XBP9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42088.61     | 0.49%             | 2037-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Emera US Finance LP          | Emera US Finance LP                                                             | CUSIP: 29103DAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $21060.54     | 0.25%             | 2046-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP            | CI Financial Corp                                                               | CUSIP: 125491AN0<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $19571.55     | 0.23%             | 2030-12-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD     | Alimentation Couche-Tard Inc                                                    | CUSIP: 01626PAN6<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $18735.95     | 0.22%             | 2050-01-25      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc             | Altria Group Inc                                                                | CUSIP: 02209SAV5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     35000 | PA      | $24873.02     | 0.29%             | 2046-09-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG       | Credit Suisse Group AG                                                          | CUSIP: 225401AP3<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    125000 | PA      | $106015.42    | 1.24%             | 2031-04-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73893.85     | 0.87%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY             | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $90259.21     | 1.06%             | 2026-11-24      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC             | Berry Global Inc                                                                | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45218.63     | 0.53%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| HCA Inc                      | HCA Inc                                                                         | CUSIP: 404119BV0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47644.51     | 0.56%             | 2047-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD     | Alimentation Couche-Tard Inc                                                    | CUSIP: 01626PAH9<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $37742.51     | 0.44%             | 2027-07-26      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co         | Kraft Heinz Foods Co                                                            | CUSIP: 42307TAH1<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     40000 | PA      | $46147.00     | 0.54%             | 2039-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY     | Canadian Pacific Railway Co                                                     | CUSIP: 13645RAX2<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $27513.96     | 0.32%             | 2115-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP           | VICI Properties LP                                                              | CUSIP: 925650AE3<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |     25000 | PA      | $23497.25     | 0.28%             | 2052-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG       | Credit Suisse Group AG                                                          | CUSIP: 225433AF8<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |     50000 | PA      | $41465.38     | 0.49%             | 2045-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| BARCLAYS PLC                 | Barclays PLC                                                                    | CUSIP: 06738EBS3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $37298.16     | 0.44%             | 2042-03-10      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP             | Duke Energy Corp                                                                | CUSIP: 26441CBL8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21230.16     | 0.25%             | 2031-06-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP            | Ares Capital Corp                                                               | CUSIP: 04010LAY9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23549.20     | 0.28%             | 2025-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HCA Inc                      | HCA Inc                                                                         | CUSIP: 404119BT5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25040.98     | 0.29%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC         | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAL4<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47784.92     | 0.56%             | 2024-03-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                  | Southern Co/The                                                                 | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21821.15     | 0.26%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD       | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901BK7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $24356.25     | 0.29%             | 2032-08-16      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co         | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAD8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47615.48     | 0.56%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-Mobile USA Inc                                                                | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68464.19     | 0.80%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VDY7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98815.87     | 1.16%             | 2027-03-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC     | Agilent Technologies Inc                                                        | CUSIP: 00846UAN1<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20992.97     | 0.25%             | 2031-03-12      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE       | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              |  | US        |     50000 | PA      | $47252.05     | 0.55%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EVEREST REINSURANCE HLDG     | Everest Reinsurance Holdings Inc                                                | CUSIP: 299808AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $34748.44     | 0.41%             | 2052-10-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER     | Enterprise Products Operating LLC                                               | CUSIP: 29379VBB8<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24733.91     | 0.29%             | 2024-02-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FISERV INC                   | Fiserv Inc                                                                      | CUSIP: 337738AT5<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47548.10     | 0.56%             | 2026-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP            | Ares Capital Corp                                                               | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47057.29     | 0.55%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COSTAR GROUP INC             | CoStar Group Inc                                                                | CUSIP: 22160NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $21146.63     | 0.25%             | 2030-07-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| PERNOD RIC INTL FIN LLC      | Pernod Ricard International Finance LLC                                         | CUSIP: 71427QAB4<br>LEI: 5493009254WI1A8WXT48 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19910.49     | 0.23%             | 2031-04-01      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP             | BAT Capital Corp                                                                | CUSIP: 05526DBG9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48397.74     | 0.57%             | 2024-09-06      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XBG9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41331.00     | 0.48%             | 2055-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-Mobile USA Inc                                                                | CUSIP: 87264AAZ8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22107.33     | 0.26%             | 2050-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC       | Standard Chartered PLC                                                          | CUSIP: 853254BU3<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $40423.50     | 0.47%             | 2036-02-18      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co         | Kraft Heinz Foods Co                                                            | CUSIP: 50076QAE6<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24099.93     | 0.28%             | 2042-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC       | Pacific Gas and Electric Co                                                     | CUSIP: 694308JK4<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45992.13     | 0.54%             | 2028-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson and Co      | Becton Dickinson and Co                                                         | CUSIP: 075887BV0<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73521.62     | 0.86%             | 2024-06-06      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY             | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CB3<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $96900.10     | 1.14%             | 2025-11-26      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VER1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49348.71     | 0.58%             | 2028-09-21      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $121910.22    | 1.43%             | 2029-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC       | Pacific Gas and Electric Co                                                     | CUSIP: 694308JQ1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82431.20     | 0.97%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc           | Conagra Brands Inc                                                              | CUSIP: 205887CC4<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50133.45     | 0.59%             | 2028-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| OWL ROCK CAPITAL CORP        | Owl Rock Capital Corp                                                           | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45174.46     | 0.53%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD     | Cheniere Corpus Christi Holdings LLC                                            | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23491.27     | 0.28%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| INFRAESTRUCTURA ENERGETI     | Infraestructura Energetica Nova SAPI de CV                                      | CUSIP: 456829AC4<br>LEI: 715K4H1JYF3O6JOK1411 | Long             | DBT              | CORP              | MX        |     50000 | PA      | $39264.08     | 0.46%             | 2051-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc             | Altria Group Inc                                                                | CUSIP: 02209SBF9<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56805.06     | 0.67%             | 2049-02-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG       | Credit Suisse Group AG                                                          | CUSIP: 225433AR2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |     50000 | PA      | $46477.69     | 0.54%             | 2026-04-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                 | Barclays PLC                                                                    | CUSIP: 06738EAJ4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $50011.50     | 0.59%             | 2045-08-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp              | McDonald's Corp                                                                 | CUSIP: 58013MFH2<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46820.21     | 0.55%             | 2048-09-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XAM7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73423.46     | 0.86%             | 2040-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE ENTRMN     | Time Warner Cable Enterprises LLC                                               | CUSIP: 88731EAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $58690.33     | 0.69%             | 2033-07-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                  | Netflix Inc                                                                     | CUSIP: 64110LAL0<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25392.25     | 0.30%             | 2025-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83368RAM4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $48871.96     | 0.57%             | 2028-09-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-Mobile USA Inc                                                                | CUSIP: 87264ABB0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145719.05    | 1.71%             | 2025-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES     | International Flavors & Fragrances Inc                                          | CUSIP: 459506AQ4<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20743.35     | 0.24%             | 2030-11-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Tyson Foods Inc              | Tyson Foods Inc                                                                 | CUSIP: 902494BJ1<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49196.51     | 0.58%             | 2026-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VDD3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23487.91     | 0.28%             | 2026-08-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                 | Barclays PLC                                                                    | CUSIP: 06738EAP0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $99653.97     | 1.17%             | 2026-05-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG       | Credit Suisse Group AG                                                          | CUSIP: 225433AC5<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |     75000 | PA      | $70417.83     | 0.82%             | 2025-03-26      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp        | Northrop Grumman Corp                                                           | CUSIP: 666807BM3<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24192.06     | 0.28%             | 2025-01-15      | Fixed         | 2.93%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC        | Republic Services Inc                                                           | CUSIP: 760759AU4<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48263.18     | 0.57%             | 2024-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co         | Kraft Heinz Foods Co                                                            | CUSIP: 50076QAR7<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     25000 | PA      | $28468.11     | 0.33%             | 2039-01-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | Verizon Communications Inc                                                      | CUSIP: 92343VGG3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68333.15     | 0.80%             | 2026-03-20      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                  | Oracle Corp                                                                     | CUSIP: 68389XBJ3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $39698.10     | 0.47%             | 2046-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83368RAV4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $47477.72     | 0.56%             | 2025-01-22      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S              | Danske Bank A/S                                                                 | CUSIP: 23636ABD2<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |     50000 | PA      | $48795.00     | 0.57%             | 2025-03-28      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP            | Ares Capital Corp                                                               | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21860.61     | 0.26%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC       | Pacific Gas and Electric Co                                                     | CUSIP: 694308KA4<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24543.52     | 0.29%             | 2024-02-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                | Sempra Energy                                                                   | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21921.16     | 0.26%             | 2052-04-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD     | Cheniere Corpus Christi Holdings LLC                                            | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50405.96     | 0.59%             | 2027-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AT&T INC                     | AT&T Inc                                                                        | CUSIP: 00206RKB7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38005.65     | 0.45%             | 2060-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Ferguson Finance PLC         | Ferguson Finance PLC                                                            | CUSIP: 314890AA2<br>LEI: 2138003A7ZEU931DZL61 | Long             | DBT              | CORP              | GB        |     25000 | PA      | $24038.95     | 0.28%             | 2028-10-24      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV         | Enel Finance International NV                                                   | CUSIP: 29278GAX6<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |     50000 | PA      | $47696.44     | 0.56%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE       | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49710.05     | 0.58%             | 2028-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp              | McDonald's Corp                                                                 | CUSIP: 58013MEF7<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     50000 | PA      | $57125.89     | 0.67%             | 2038-03-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83368RBB7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $35466.25     | 0.42%             | 2041-03-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                  | Netflix Inc                                                                     | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103992.88    | 1.22%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC         | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAQ3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47430.58     | 0.56%             | 2032-04-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-Mobile USA Inc                                                                | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56228.34     | 0.66%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG       | Credit Suisse Group AG                                                          | CUSIP: 225401AC2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |     75000 | PA      | $66102.06     | 0.77%             | 2028-01-09      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE             | Societe Generale SA                                                             | CUSIP: 83368RBC5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $44332.18     | 0.52%             | 2027-06-09      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| HCA INC                      | HCA Inc                                                                         | CUSIP: 404119BZ1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45784.46     | 0.54%             | 2049-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MCCORMICK & CO               | McCormick & Co Inc/MD                                                           | CUSIP: 579780AN7<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23830.22     | 0.28%             | 2027-08-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL       | Mondelez International Inc                                                      | CUSIP: 609207AU9<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23379.50     | 0.27%             | 2025-05-04      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY     | Canadian Pacific Railway Co                                                     | CUSIP: 13645RBE3<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $67930.01     | 0.80%             | 2026-12-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $64155.53     | 0.75%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                  | BNP Paribas SA                                                                  | CUSIP: 05581KAA9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     50000 | PA      | $49036.24     | 0.57%             | 2025-09-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** VanEck ETF Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer