# EDGAR Filing Document

**Accession Number:** 0001611331
**File Stem:** 0001752724-25-180803
**Filing Date:** 2025-7
**Character Count:** 336286
**Document Hash:** 7962c303e48dcf1c387bc801ecb3c778
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180803.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180803

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001611331

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23597
- **FILM NUMBER:** 251155318

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4225

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allspring Exchange-Traded Funds Trust
- **DATE OF NAME CHANGE:** 20211206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wells Fargo Exchange-Traded Funds Trust
- **DATE OF NAME CHANGE:** 20140619

## Series and Classes Contracts Data

### Allspring Broad Market Core Bond ETF (Series ID: S000088476)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000254753 | Allspring Broad Market Core Bond ETF | AFIX            |

## Nport-Ex

Portfolio of investments—May 31, 2025 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 34.36%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FHLMC | 2.00<br> %<br>| &nbsp;&nbsp; 6-1-2050 | $1136408 | &nbsp;&nbsp; $892621 |
| &nbsp;&nbsp;&nbsp; FHLMC | 2.00 | &nbsp;&nbsp; 7-1-2050 | 1275806 | &nbsp;&nbsp; 998854 |
| &nbsp;&nbsp;&nbsp; FHLMC | 2.50 | &nbsp;&nbsp; 11-1-2050 | 838189 | &nbsp;&nbsp; 688705 |
| &nbsp;&nbsp;&nbsp; FHLMC | 2.50 | &nbsp;&nbsp; 2-1-2051 | 1553144 | &nbsp;&nbsp; 1276963 |
| &nbsp;&nbsp;&nbsp; FHLMC | 2.50 | &nbsp;&nbsp; 5-1-2051 | 477035 | &nbsp;&nbsp; 392098 |
| &nbsp;&nbsp;&nbsp; FHLMC | 2.50 | &nbsp;&nbsp; 9-1-2051 | 1480857 | &nbsp;&nbsp; 1212725 |
| &nbsp;&nbsp;&nbsp; FHLMC | 3.00 | &nbsp;&nbsp; 8-1-2049 | 1438765 | &nbsp;&nbsp; 1238617 |
| &nbsp;&nbsp;&nbsp; FHLMC | 3.00 | &nbsp;&nbsp; 1-1-2050 | 1035024 | &nbsp;&nbsp; 890316 |
| &nbsp;&nbsp;&nbsp; FHLMC | 3.00 | &nbsp;&nbsp; 7-1-2050 | 503950 | &nbsp;&nbsp; 429621 |
| &nbsp;&nbsp;&nbsp; FHLMC | 3.50 | &nbsp;&nbsp; 7-1-2049 | 496955 | &nbsp;&nbsp; 446011 |
| &nbsp;&nbsp;&nbsp; FHLMC | 3.50 | &nbsp;&nbsp; 1-1-2050 | 253262 | &nbsp;&nbsp; 227115 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.50 | &nbsp;&nbsp; 1-1-2055 | 3445465 | &nbsp;&nbsp; 3453508 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 6-1-2050 | 1491547 | &nbsp;&nbsp; 1171574 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 7-1-2050 | 1843847 | &nbsp;&nbsp; 1444972 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 9-1-2050 | 656074 | &nbsp;&nbsp; 513047 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 11-1-2050 | 1255151 | &nbsp;&nbsp; 984257 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 9-1-2049 | 151793 | &nbsp;&nbsp; 124790 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 12-1-2049 | 285070 | &nbsp;&nbsp; 234476 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 4-1-2050 | 290813 | &nbsp;&nbsp; 239847 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 8-1-2050 | 290309 | &nbsp;&nbsp; 239164 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 11-1-2050 | 261423 | &nbsp;&nbsp; 214685 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 12-1-2050 | 1161038 | &nbsp;&nbsp; 953629 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 7-1-2051 | 1545404 | &nbsp;&nbsp; 1266725 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 8-1-2049 | 269043 | &nbsp;&nbsp; 231029 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 2-1-2050 | 282899 | &nbsp;&nbsp; 243252 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 5-1-2050 | 204912 | &nbsp;&nbsp; 176035 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 6-1-2050 | 247529 | &nbsp;&nbsp; 212647 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 7-1-2050 | 102419 | &nbsp;&nbsp; 87985 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 8-1-2050 | 701780 | &nbsp;&nbsp; 602880 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 9-1-2050 | 1984689 | &nbsp;&nbsp; 1704987 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 5-1-2051 | 686577 | &nbsp;&nbsp; 589182 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 6-1-2051 | 156214 | &nbsp;&nbsp; 133746 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 7-1-2051 | 236941 | &nbsp;&nbsp; 203040 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 1-1-2052 | 1173002 | &nbsp;&nbsp; 998378 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 6-1-2048 | 1855947 | &nbsp;&nbsp; 1670565 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 5-1-2049 | 286045 | &nbsp;&nbsp; 255988 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 8-1-2049 | 482849 | &nbsp;&nbsp; 433250 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 11-1-2049 | 583282 | &nbsp;&nbsp; 520700 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 2-1-2050 | 406283 | &nbsp;&nbsp; 363192 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 9-1-2050 | 2017703 | &nbsp;&nbsp; 1806430 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 1-1-2051 | 431360 | &nbsp;&nbsp; 386886 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 2-1-2051 | 1762450 | &nbsp;&nbsp; 1580737 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 6-1-2048 | 728808 | &nbsp;&nbsp; 679872 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 8-1-2048 | 222217 | &nbsp;&nbsp; 207284 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 9-1-2048 | 190157 | &nbsp;&nbsp; 177300 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 11-1-2048 | 212152 | &nbsp;&nbsp; 197719 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 1-1-2049 | 145395 | &nbsp;&nbsp; 135474 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 3-1-2049 | 386965 | &nbsp;&nbsp; 360893 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 1

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00<br> %<br>| &nbsp;&nbsp; 1-1-2050 | $279520 | &nbsp;&nbsp; $259274 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 5-1-2051 | 273172 | &nbsp;&nbsp; 254703 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 6-1-2052 | 406995 | &nbsp;&nbsp; 373715 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 3-1-2051 | 288562 | &nbsp;&nbsp; 268593 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.28 | &nbsp;&nbsp; 2-1-2030 | 500000 | &nbsp;&nbsp; 498025 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.35 | &nbsp;&nbsp; 12-1-2029 | 500000 | &nbsp;&nbsp; 500013 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.40 | &nbsp;&nbsp; 1-1-2030 | 500000 | &nbsp;&nbsp; 500202 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.45 | &nbsp;&nbsp; 1-1-2031 | 300000 | &nbsp;&nbsp; 300292 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.46 | &nbsp;&nbsp; 2-1-2031 | 820226 | &nbsp;&nbsp; 818894 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.50 | &nbsp;&nbsp; 9-1-2052 | 288597 | &nbsp;&nbsp; 272768 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.50 | &nbsp;&nbsp; 10-1-2052 | 263314 | &nbsp;&nbsp; 248881 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.51 | &nbsp;&nbsp; 2-1-2030 | 430000 | &nbsp;&nbsp; 432533 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.56 | &nbsp;&nbsp; 3-1-2030 | 380000 | &nbsp;&nbsp; 382864 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.83 | &nbsp;&nbsp; 4-1-2031 | 800000 | &nbsp;&nbsp; 810379 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.98 | &nbsp;&nbsp; 5-1-2030 | 410000 | &nbsp;&nbsp; 417663 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.00 | &nbsp;&nbsp; 1-1-2031 | 1963000 | &nbsp;&nbsp; 2010613 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 5.00 | &nbsp;&nbsp; 6-15-2054 | 1830000 | &nbsp;&nbsp; 1771177 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.04 | &nbsp;&nbsp; 1-1-2031 | 2108266 | &nbsp;&nbsp; 2165647 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.09 | &nbsp;&nbsp; 1-1-2031 | 2852127 | &nbsp;&nbsp; 2936618 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.17 | &nbsp;&nbsp; 3-1-2031 | 997697 | &nbsp;&nbsp; 1024147 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.20 | &nbsp;&nbsp; 3-1-2031 | 947630 | &nbsp;&nbsp; 975097 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.23 | &nbsp;&nbsp; 2-1-2032 | 748237 | &nbsp;&nbsp; 769898 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.50 | &nbsp;&nbsp; 12-1-2054 | 1939798 | &nbsp;&nbsp; 1942942 |
| **Total agency securities (Cost $53,173,999)** |  |  |  | &nbsp;&nbsp; **53428709** |
| **Asset-backed securities: 12.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Barings Equipment Finance LLC Series 2025-A Class A4144A | 5.02 | &nbsp;&nbsp; 6-13-2050 | 1000000 | &nbsp;&nbsp; 1005442 |
| &nbsp;&nbsp;&nbsp; Enterprise Fleet Financing LLC Series 2025-1 Class A4144A | 4.97 | &nbsp;&nbsp; 9-22-2031 | 730000 | &nbsp;&nbsp; 739209 |
| &nbsp;&nbsp;&nbsp; Ford Credit Auto Owner Trust Series 2025-1 Class A144Aøø | 4.86 | &nbsp;&nbsp; 8-15-2037 | 945000 | &nbsp;&nbsp; 956170 |
| &nbsp;&nbsp;&nbsp; GM Financial Revolving Receivables Trust Series 2024-1 Class A144A | 4.98 | &nbsp;&nbsp; 12-11-2036 | 810000 | &nbsp;&nbsp; 824438 |
| &nbsp;&nbsp;&nbsp; GM Financial Revolving Receivables Trust Series 2024-2 Class A144A | 4.52 | &nbsp;&nbsp; 3-11-2037 | 125000 | &nbsp;&nbsp; 124724 |
| &nbsp;&nbsp;&nbsp; GM Financial Revolving Receivables Trust Series 2025-1 Class A144A | 4.64 | &nbsp;&nbsp; 12-11-2037 | 325000 | &nbsp;&nbsp; 325538 |
| &nbsp;&nbsp;&nbsp; John Deere Owner Trust Series 2025-A Class A4 | 4.42 | &nbsp;&nbsp; 2-17-2032 | 245000 | &nbsp;&nbsp; 244427 |
| &nbsp;&nbsp;&nbsp; M&T Bank Auto Receivables Trust Series 2025-1A Class A4144A | 4.89 | &nbsp;&nbsp; 7-15-2032 | 1000000 | &nbsp;&nbsp; 1008490 |
| &nbsp;&nbsp;&nbsp; SBA Small Business Investment Cos. Series 2025-10A Class 1 | 4.96 | &nbsp;&nbsp; 3-10-2035 | 1850000 | &nbsp;&nbsp; 1869524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Business Administration Participation Certificates Series 2024-<br> 25G Class 1<br>| 4.89 | &nbsp;&nbsp; 7-1-2049 | 788543 | &nbsp;&nbsp; 778574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Business Administration Participation Certificates Series 2024-<br> 25H Class 1<br>| 4.73 | &nbsp;&nbsp; 8-1-2049 | 1086455 | &nbsp;&nbsp; 1076204 |
| &nbsp;&nbsp;&nbsp; Toyota Auto Loan Extended Note Trust Series 2023-1A Class A144A | 4.93 | &nbsp;&nbsp; 6-25-2036 | 120000 | &nbsp;&nbsp; 121740 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2022-25G Class 1 | 3.93 | &nbsp;&nbsp; 7-1-2047 | 61416 | &nbsp;&nbsp; 57902 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2023-25C Class 1 | 4.93 | &nbsp;&nbsp; 3-1-2048 | 1184491 | &nbsp;&nbsp; 1183875 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2023-25E Class 1 | 4.62 | &nbsp;&nbsp; 5-1-2048 | 904505 | &nbsp;&nbsp; 872347 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2023-25G Class 1 | 5.18 | &nbsp;&nbsp; 7-1-2048 | 1133476 | &nbsp;&nbsp; 1142296 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2023-25H Class 1 | 5.15 | &nbsp;&nbsp; 8-1-2048 | 1265564 | &nbsp;&nbsp; 1268875 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2023-25I Class 1 | 5.41 | &nbsp;&nbsp; 9-1-2048 | 1539985 | &nbsp;&nbsp; 1567250 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2024-25A Class 1 | 5.05 | &nbsp;&nbsp; 1-1-2049 | 94899 | &nbsp;&nbsp; 95054 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2024-25B Class 1 | 5.07 | &nbsp;&nbsp; 2-1-2049 | 364375 | &nbsp;&nbsp; 367246 |

---

See accompanying notes to portfolio of investments

2 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2024-25F Class 1 | 5.04<br> %<br>| &nbsp;&nbsp; 6-1-2049 | $1083746 | &nbsp;&nbsp; $1081696 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2024-25I Class 1 | 4.45 | &nbsp;&nbsp; 9-1-2049 | 153095 | &nbsp;&nbsp; 147892 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2024-25L Class 1 | 4.82 | &nbsp;&nbsp; 12-1-2049 | 785000 | &nbsp;&nbsp; 770647 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2025-20A Class 1 | 5.24 | &nbsp;&nbsp; 1-1-2045 | 1000000 | &nbsp;&nbsp; 1014859 |
| &nbsp;&nbsp;&nbsp; U.S. Small Business Administration Series 2025-20B Class 1 | 5.01 | &nbsp;&nbsp; 2-1-2045 | 200000 | &nbsp;&nbsp; 201251 |
| **Total asset-backed securities (Cost $18,773,087)** |  |  |  | &nbsp;&nbsp; **18845670** |
| **Corporate bonds and notes: 27.06%** |  |  |  |  |
| **Basic materials: 0.43%** |  |  |  |  |
| **Chemicals: 0.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Eastman Chemical Co. | 5.75 | &nbsp;&nbsp; 3-8-2033 | 160000 | &nbsp;&nbsp; 163934 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 2.80 | &nbsp;&nbsp; 8-15-2029 | 50000 | &nbsp;&nbsp; 46597 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 2.95 | &nbsp;&nbsp; 8-15-2029 | 210000 | &nbsp;&nbsp; 196372 |
|  |  |  |  | &nbsp;&nbsp; **406903** |
| **Forest products & paper: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Georgia-Pacific LLC144A | 2.30 | &nbsp;&nbsp; 4-30-2030 | 30000 | &nbsp;&nbsp; **26991** |
| **Iron/steel: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | 4.65 | &nbsp;&nbsp; 6-1-2030 | 190000 | &nbsp;&nbsp; **189473** |
| **Mining: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Newmont Corp./Newcrest Finance Pty. Ltd. | 5.35 | &nbsp;&nbsp; 3-15-2034 | 50000 | &nbsp;&nbsp; **50492** |
| **Communications: 1.77%** |  |  |  |  |
| **Media: 0.46%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital<br>| 4.40 | &nbsp;&nbsp; 4-1-2033 | 270000 | &nbsp;&nbsp; 249050 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 1.95 | &nbsp;&nbsp; 1-15-2031 | 50000 | &nbsp;&nbsp; 43275 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 3.40 | &nbsp;&nbsp; 4-1-2030 | 170000 | &nbsp;&nbsp; 161441 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 4.60 | &nbsp;&nbsp; 10-15-2038 | 120000 | &nbsp;&nbsp; 108859 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 4.95 | &nbsp;&nbsp; 5-15-2032 | 140000 | &nbsp;&nbsp; 140778 |
|  |  |  |  | &nbsp;&nbsp; **703403** |
| **Telecommunications: 1.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 2.25 | &nbsp;&nbsp; 2-1-2032 | 150000 | &nbsp;&nbsp; 127265 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 2.75 | &nbsp;&nbsp; 6-1-2031 | 130000 | &nbsp;&nbsp; 116341 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 4.50 | &nbsp;&nbsp; 5-15-2035 | 120000 | &nbsp;&nbsp; 112882 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 4.65 | &nbsp;&nbsp; 6-1-2044 | 40000 | &nbsp;&nbsp; 33759 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 4.75 | &nbsp;&nbsp; 5-15-2046 | 180000 | &nbsp;&nbsp; 153516 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 5.35 | &nbsp;&nbsp; 9-1-2040 | 120000 | &nbsp;&nbsp; 113901 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 5.00 | &nbsp;&nbsp; 4-15-2029 | 100000 | &nbsp;&nbsp; 101093 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. | 2.40 | &nbsp;&nbsp; 3-15-2029 | 120000 | &nbsp;&nbsp; 110943 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. | 2.55 | &nbsp;&nbsp; 2-15-2031 | 130000 | &nbsp;&nbsp; 115144 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. | 3.38 | &nbsp;&nbsp; 4-15-2029 | 100000 | &nbsp;&nbsp; 95368 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. | 3.88 | &nbsp;&nbsp; 4-15-2030 | 200000 | &nbsp;&nbsp; 192853 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. | 4.80 | &nbsp;&nbsp; 7-15-2028 | 110000 | &nbsp;&nbsp; 111177 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 1.75 | &nbsp;&nbsp; 1-20-2031 | 220000 | &nbsp;&nbsp; 187556 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 3

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Telecommunications**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 2.36<br> %<br>| &nbsp;&nbsp; 3-15-2032 | $330000 | &nbsp;&nbsp; $281445 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 4.40 | &nbsp;&nbsp; 11-1-2034 | 150000 | &nbsp;&nbsp; 140477 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 4.81 | &nbsp;&nbsp; 3-15-2039 | 50000 | &nbsp;&nbsp; 46094 |
|  |  |  |  | &nbsp;&nbsp; **2039814** |
| **Consumer, cyclical: 1.41%** |  |  |  |  |
| **Auto manufacturers: 1.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp. | 2.25 | &nbsp;&nbsp; 1-12-2029 | 120000 | &nbsp;&nbsp; 110431 |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp. | 4.40 | &nbsp;&nbsp; 9-5-2029 | 110000 | &nbsp;&nbsp; 108845 |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp. | 4.90 | &nbsp;&nbsp; 3-13-2029 | 160000 | &nbsp;&nbsp; 161259 |
| &nbsp;&nbsp;&nbsp; BMW U.S. Capital LLC144A | 4.65 | &nbsp;&nbsp; 8-13-2029 | 50000 | &nbsp;&nbsp; 49749 |
| &nbsp;&nbsp;&nbsp; BMW U.S. Capital LLC144A | 5.05 | &nbsp;&nbsp; 3-21-2030 | 45000 | &nbsp;&nbsp; 45355 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | 3.63 | &nbsp;&nbsp; 6-17-2031 | 200000 | &nbsp;&nbsp; 172093 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | 6.13 | &nbsp;&nbsp; 10-1-2025 | 110000 | &nbsp;&nbsp; 110329 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | 2.40 | &nbsp;&nbsp; 10-15-2028 | 60000 | &nbsp;&nbsp; 55188 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | 2.70 | &nbsp;&nbsp; 6-10-2031 | 50000 | &nbsp;&nbsp; 42908 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | 4.30 | &nbsp;&nbsp; 4-6-2029 | 80000 | &nbsp;&nbsp; 77491 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | 5.00 | &nbsp;&nbsp; 4-9-2027 | 250000 | &nbsp;&nbsp; 250137 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America144A | 5.30 | &nbsp;&nbsp; 1-8-2030 | 220000 | &nbsp;&nbsp; 222536 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Finance North America LLC144A | 5.00 | &nbsp;&nbsp; 4-1-2030 | 150000 | &nbsp;&nbsp; 150780 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp. | 5.10 | &nbsp;&nbsp; 3-21-2031 | 140000 | &nbsp;&nbsp; 142384 |
|  |  |  |  | &nbsp;&nbsp; **1699485** |
| **Entertainment: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. | 4.05 | &nbsp;&nbsp; 3-15-2029 | 100000 | &nbsp;&nbsp; 93120 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 130000 | &nbsp;&nbsp; 110314 |
|  |  |  |  | &nbsp;&nbsp; **203434** |
| **Retail: 0.19%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. | 5.10 | &nbsp;&nbsp; 7-15-2029 | 130000 | &nbsp;&nbsp; 132501 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | 3.75 | &nbsp;&nbsp; 4-1-2032 | 170000 | &nbsp;&nbsp; 158207 |
|  |  |  |  | &nbsp;&nbsp; **290708** |
| **Consumer, non-cyclical: 3.70%** |  |  |  |  |
| **Agriculture: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cargill, Inc.144A | 2.13 | &nbsp;&nbsp; 11-10-2031 | 130000 | &nbsp;&nbsp; **111385** |
| **Beverages: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Diageo Investment Corp. | 5.63 | &nbsp;&nbsp; 4-15-2035 | 200000 | &nbsp;&nbsp; **205290** |
| **Commercial services: 1.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. | 2.35 | &nbsp;&nbsp; 9-15-2031 | 120000 | &nbsp;&nbsp; 102964 |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. | 4.80 | &nbsp;&nbsp; 9-15-2029 | 50000 | &nbsp;&nbsp; 49901 |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. | 5.10 | &nbsp;&nbsp; 6-1-2028 | 50000 | &nbsp;&nbsp; 50600 |
| &nbsp;&nbsp;&nbsp; J Paul Getty Trust | 4.91 | &nbsp;&nbsp; 4-1-2035 | 450000 | &nbsp;&nbsp; 443908 |
| &nbsp;&nbsp;&nbsp; Leland Stanford Junior University | 4.68 | &nbsp;&nbsp; 3-1-2035 | 420000 | &nbsp;&nbsp; 409940 |
| &nbsp;&nbsp;&nbsp; Massachusetts Institute of Technology | 5.62 | &nbsp;&nbsp; 6-1-2055 | 215000 | &nbsp;&nbsp; 214449 |

---

See accompanying notes to portfolio of investments

4 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Commercial services**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; RELX Capital, Inc. | 5.25<br> %<br>| &nbsp;&nbsp; 3-27-2035 | $100000 | &nbsp;&nbsp; $100429 |
| &nbsp;&nbsp;&nbsp; University of Southern California | 3.03 | &nbsp;&nbsp; 10-1-2039 | 400000 | &nbsp;&nbsp; 317041 |
|  |  |  |  | &nbsp;&nbsp; **1689232** |
| **Food: 0.57%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | 4.88 | &nbsp;&nbsp; 1-30-2030 | 110000 | &nbsp;&nbsp; 110960 |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | 5.50 | &nbsp;&nbsp; 10-17-2028 | 110000 | &nbsp;&nbsp; 113527 |
| &nbsp;&nbsp;&nbsp; Ingredion, Inc. | 2.90 | &nbsp;&nbsp; 6-1-2030 | 170000 | &nbsp;&nbsp; 156318 |
| &nbsp;&nbsp;&nbsp; Ingredion, Inc. | 3.20 | &nbsp;&nbsp; 10-1-2026 | 30000 | &nbsp;&nbsp; 29437 |
| &nbsp;&nbsp;&nbsp; Mars, Inc.144A | 5.00 | &nbsp;&nbsp; 3-1-2032 | 100000 | &nbsp;&nbsp; 100336 |
| &nbsp;&nbsp;&nbsp; Mars, Inc.144A | 5.20 | &nbsp;&nbsp; 3-1-2035 | 150000 | &nbsp;&nbsp; 149437 |
| &nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 2.50 | &nbsp;&nbsp; 4-15-2030 | 260000 | &nbsp;&nbsp; 234776 |
|  |  |  |  | &nbsp;&nbsp; **894791** |
| **Healthcare-products: 0.46%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. | 2.10 | &nbsp;&nbsp; 6-4-2030 | 130000 | &nbsp;&nbsp; 115286 |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. | 2.75 | &nbsp;&nbsp; 9-15-2029 | 50000 | &nbsp;&nbsp; 46410 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. | 2.27 | &nbsp;&nbsp; 12-1-2028 | 120000 | &nbsp;&nbsp; 110816 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 4.80 | &nbsp;&nbsp; 8-14-2029 | 160000 | &nbsp;&nbsp; 160861 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 5.86 | &nbsp;&nbsp; 3-15-2030 | 110000 | &nbsp;&nbsp; 115156 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 5.91 | &nbsp;&nbsp; 11-22-2032 | 110000 | &nbsp;&nbsp; 115484 |
| &nbsp;&nbsp;&nbsp; Revvity, Inc. | 1.90 | &nbsp;&nbsp; 9-15-2028 | 50000 | &nbsp;&nbsp; 45839 |
|  |  |  |  | &nbsp;&nbsp; **709852** |
| **Healthcare-services: 0.77%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Baylor Scott & White Holdings Series 2021 | 1.78 | &nbsp;&nbsp; 11-15-2030 | 100000 | &nbsp;&nbsp; 85720 |
| &nbsp;&nbsp;&nbsp; Cedars-Sinai Health System Series 2021 | 2.29 | &nbsp;&nbsp; 8-15-2031 | 85000 | &nbsp;&nbsp; 73121 |
| &nbsp;&nbsp;&nbsp; Duke University Health System, Inc. Series 2017 | 3.92 | &nbsp;&nbsp; 6-1-2047 | 210000 | &nbsp;&nbsp; 159950 |
| &nbsp;&nbsp;&nbsp; Health Care Service Corp. A Mutual Legal Reserve Co.144A | 2.20 | &nbsp;&nbsp; 6-1-2030 | 130000 | &nbsp;&nbsp; 115044 |
| &nbsp;&nbsp;&nbsp; Health Care Service Corp. A Mutual Legal Reserve Co.144A | 5.20 | &nbsp;&nbsp; 6-15-2029 | 160000 | &nbsp;&nbsp; 161991 |
| &nbsp;&nbsp;&nbsp; Kaiser Foundation Hospitals Series 2021 | 2.81 | &nbsp;&nbsp; 6-1-2041 | 200000 | &nbsp;&nbsp; 138730 |
| &nbsp;&nbsp;&nbsp; Laboratory Corp. of America Holdings | 4.35 | &nbsp;&nbsp; 4-1-2030 | 170000 | &nbsp;&nbsp; 166955 |
| &nbsp;&nbsp;&nbsp; Providence St. Joseph Health Obligated Group Series H | 2.75 | &nbsp;&nbsp; 10-1-2026 | 120000 | &nbsp;&nbsp; 117085 |
| &nbsp;&nbsp;&nbsp; Sutter Health | 5.16 | &nbsp;&nbsp; 8-15-2033 | 175000 | &nbsp;&nbsp; 174698 |
|  |  |  |  | &nbsp;&nbsp; **1193294** |
| **Pharmaceuticals: 0.61%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 1.96 | &nbsp;&nbsp; 2-11-2031 | 230000 | &nbsp;&nbsp; 197255 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 4.30 | &nbsp;&nbsp; 8-22-2032 | 50000 | &nbsp;&nbsp; 47623 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 4.87 | &nbsp;&nbsp; 2-8-2029 | 110000 | &nbsp;&nbsp; 110685 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 1.75 | &nbsp;&nbsp; 8-21-2030 | 200000 | &nbsp;&nbsp; 170090 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 5.13 | &nbsp;&nbsp; 2-21-2030 | 200000 | &nbsp;&nbsp; 201140 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 5.25 | &nbsp;&nbsp; 2-21-2033 | 230000 | &nbsp;&nbsp; 226626 |
|  |  |  |  | &nbsp;&nbsp; **953419** |
| **Energy: 2.50%** |  |  |  |  |
| **Oil & gas: 0.96%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. | 4.70 | &nbsp;&nbsp; 4-10-2029 | 110000 | &nbsp;&nbsp; 111111 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 5

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Oil & gas**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. | 4.87<br> %<br>| &nbsp;&nbsp; 11-25-2029 | $110000 | &nbsp;&nbsp; $111476 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. | 4.89 | &nbsp;&nbsp; 9-11-2033 | 170000 | &nbsp;&nbsp; 167123 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. | 4.70 | &nbsp;&nbsp; 1-15-2030 | 200000 | &nbsp;&nbsp; 200914 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 3.90 | &nbsp;&nbsp; 5-15-2027 | 110000 | &nbsp;&nbsp; 108340 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 4.38 | &nbsp;&nbsp; 3-15-2029 | 190000 | &nbsp;&nbsp; 187029 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 5.15 | &nbsp;&nbsp; 3-1-2030 | 210000 | &nbsp;&nbsp; 212039 |
| &nbsp;&nbsp;&nbsp; Phillips 66 Co. | 5.25 | &nbsp;&nbsp; 6-15-2031 | 270000 | &nbsp;&nbsp; 273342 |
| &nbsp;&nbsp;&nbsp; Pioneer Natural Resources Co. | 2.15 | &nbsp;&nbsp; 1-15-2031 | 130000 | &nbsp;&nbsp; 113824 |
|  |  |  |  | &nbsp;&nbsp; **1485198** |
| **Oil & gas services: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Halliburton Co. | 2.92 | &nbsp;&nbsp; 3-1-2030 | 300000 | &nbsp;&nbsp; **275359** |
| **Pipelines: 1.36%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP | 5.20 | &nbsp;&nbsp; 4-1-2030 | 30000 | &nbsp;&nbsp; 30287 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP | 6.40 | &nbsp;&nbsp; 12-1-2030 | 260000 | &nbsp;&nbsp; 276413 |
| &nbsp;&nbsp;&nbsp; Florida Gas Transmission Co. LLC144A | 2.30 | &nbsp;&nbsp; 10-1-2031 | 440000 | &nbsp;&nbsp; 373254 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 5.00 | &nbsp;&nbsp; 2-1-2029 | 50000 | &nbsp;&nbsp; 50558 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 5.15 | &nbsp;&nbsp; 6-1-2030 | 120000 | &nbsp;&nbsp; 121128 |
| &nbsp;&nbsp;&nbsp; MPLX LP | 4.95 | &nbsp;&nbsp; 9-1-2032 | 340000 | &nbsp;&nbsp; 330755 |
| &nbsp;&nbsp;&nbsp; MPLX LP | 5.00 | &nbsp;&nbsp; 3-1-2033 | 150000 | &nbsp;&nbsp; 145570 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | 3.25 | &nbsp;&nbsp; 6-1-2030 | 145000 | &nbsp;&nbsp; 134009 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | 4.40 | &nbsp;&nbsp; 10-15-2029 | 20000 | &nbsp;&nbsp; 19680 |
| &nbsp;&nbsp;&nbsp; Plains All American Pipeline LP/PAA Finance Corp. | 5.70 | &nbsp;&nbsp; 9-15-2034 | 160000 | &nbsp;&nbsp; 158786 |
| &nbsp;&nbsp;&nbsp; Sabine Pass Liquefaction LLC | 4.50 | &nbsp;&nbsp; 5-15-2030 | 170000 | &nbsp;&nbsp; 167492 |
| &nbsp;&nbsp;&nbsp; Transcontinental Gas Pipe Line Co. LLC | 3.25 | &nbsp;&nbsp; 5-15-2030 | 100000 | &nbsp;&nbsp; 93178 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 3.75 | &nbsp;&nbsp; 6-15-2027 | 20000 | &nbsp;&nbsp; 19714 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 4.65 | &nbsp;&nbsp; 8-15-2032 | 85000 | &nbsp;&nbsp; 82263 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 4.90 | &nbsp;&nbsp; 3-15-2029 | 10000 | &nbsp;&nbsp; 10085 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 8.75 | &nbsp;&nbsp; 3-15-2032 | 90000 | &nbsp;&nbsp; 107270 |
|  |  |  |  | &nbsp;&nbsp; **2120442** |
| **Financial: 9.38%** |  |  |  |  |
| **Banks: 5.81%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.05%)± | 2.55 | &nbsp;&nbsp; 2-4-2028 | 260000 | &nbsp;&nbsp; 251298 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.21%)± | 2.57 | &nbsp;&nbsp; 10-20-2032 | 300000 | &nbsp;&nbsp; 260098 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.33%)± | 2.97 | &nbsp;&nbsp; 2-4-2033 | 50000 | &nbsp;&nbsp; 44070 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.37%)± | 1.92 | &nbsp;&nbsp; 10-24-2031 | 130000 | &nbsp;&nbsp; 111902 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.53%)± | 1.90 | &nbsp;&nbsp; 7-23-2031 | 200000 | &nbsp;&nbsp; 173135 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR 3 Month+1.30%)± | 3.42 | &nbsp;&nbsp; 12-20-2028 | 90000 | &nbsp;&nbsp; 87327 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR 3 Month+1.57%)± | 4.27 | &nbsp;&nbsp; 7-23-2029 | 250000 | &nbsp;&nbsp; 247190 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (U.S. SOFR+1.23%)± | 5.06 | &nbsp;&nbsp; 7-22-2032 | 180000 | &nbsp;&nbsp; 181951 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+1.17%)± | 2.56 | &nbsp;&nbsp; 5-1-2032 | 180000 | &nbsp;&nbsp; 157224 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+1.18%)± | 2.52 | &nbsp;&nbsp; 11-3-2032 | 130000 | &nbsp;&nbsp; 111866 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+1.34%)± | 4.54 | &nbsp;&nbsp; 9-19-2030 | 50000 | &nbsp;&nbsp; 49385 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+1.35%)± | 3.06 | &nbsp;&nbsp; 1-25-2033 | 50000 | &nbsp;&nbsp; 43980 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+2.09%)± | 4.91 | &nbsp;&nbsp; 5-24-2033 | 170000 | &nbsp;&nbsp; 167120 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+2.11%)± | 2.57 | &nbsp;&nbsp; 6-3-2031 | 130000 | &nbsp;&nbsp; 116453 |

---

See accompanying notes to portfolio of investments

6 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+4.55%)± | 5.32<br> %<br>| &nbsp;&nbsp; 3-26-2041 | $120000 | &nbsp;&nbsp; $114432 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR 3 Month+1.45%)± | 4.08 | &nbsp;&nbsp; 4-23-2029 | 120000 | &nbsp;&nbsp; 118092 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. (U.S. SOFR+1.26%)± | 5.25 | &nbsp;&nbsp; 3-5-2031 | 360000 | &nbsp;&nbsp; 360375 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp (U.S. SOFR+1.66%)± | 4.34 | &nbsp;&nbsp; 4-25-2033 | 80000 | &nbsp;&nbsp; 75011 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp (U.S. SOFR+1.84%)± | 5.63 | &nbsp;&nbsp; 1-29-2032 | 110000 | &nbsp;&nbsp; 112950 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp (U.S. SOFR+2.13%)± | 4.77 | &nbsp;&nbsp; 7-28-2030 | 110000 | &nbsp;&nbsp; 109637 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp (U.S. SOFR+2.19%)± | 6.36 | &nbsp;&nbsp; 10-27-2028 | 110000 | &nbsp;&nbsp; 114037 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (U.S. SOFR+1.09%)± | 1.99 | &nbsp;&nbsp; 1-27-2032 | 170000 | &nbsp;&nbsp; 144687 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (U.S. SOFR+1.11%)± | 2.64 | &nbsp;&nbsp; 2-24-2028 | 200000 | &nbsp;&nbsp; 193211 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (U.S. SOFR+1.21%)± | 5.05 | &nbsp;&nbsp; 7-23-2030 | 310000 | &nbsp;&nbsp; 312648 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 2.55 | &nbsp;&nbsp; 2-4-2030 | 130000 | &nbsp;&nbsp; 117494 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. (U.S. SOFR+2.05%)± | 5.02 | &nbsp;&nbsp; 5-17-2033 | 170000 | &nbsp;&nbsp; 165294 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.02%)± | 2.07 | &nbsp;&nbsp; 6-1-2029 | 200000 | &nbsp;&nbsp; 186014 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.18%)± | 2.55 | &nbsp;&nbsp; 11-8-2032 | 30000 | &nbsp;&nbsp; 25997 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.26%)± | 2.96 | &nbsp;&nbsp; 1-25-2033 | 50000 | &nbsp;&nbsp; 44228 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.31%)± | 5.01 | &nbsp;&nbsp; 1-23-2030 | 110000 | &nbsp;&nbsp; 111304 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.45%)± | 5.30 | &nbsp;&nbsp; 7-24-2029 | 210000 | &nbsp;&nbsp; 214258 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR 3 Month+1.11%)± | 1.76 | &nbsp;&nbsp; 11-19-2031 | 180000 | &nbsp;&nbsp; 153733 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR 3 Month+1.52%)± | 4.20 | &nbsp;&nbsp; 7-23-2029 | 250000 | &nbsp;&nbsp; 247363 |
| &nbsp;&nbsp;&nbsp; KeyCorp | 2.25 | &nbsp;&nbsp; 4-6-2027 | 205000 | &nbsp;&nbsp; 196217 |
| &nbsp;&nbsp;&nbsp; KeyCorp | 2.55 | &nbsp;&nbsp; 10-1-2029 | 10000 | &nbsp;&nbsp; 9115 |
| &nbsp;&nbsp;&nbsp; KeyCorp (U.S. SOFR+1.23%)± | 5.12 | &nbsp;&nbsp; 4-4-2031 | 100000 | &nbsp;&nbsp; 99787 |
| &nbsp;&nbsp;&nbsp; KeyCorp (U.S. SOFR+2.06%)± | 4.79 | &nbsp;&nbsp; 6-1-2033 | 60000 | &nbsp;&nbsp; 57282 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. (U.S. SOFR+1.85%)± | 5.05 | &nbsp;&nbsp; 1-27-2034 | 170000 | &nbsp;&nbsp; 164725 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.11%)± | 5.23 | &nbsp;&nbsp; 1-15-2031 | 125000 | &nbsp;&nbsp; 126847 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.18%)± | 2.24 | &nbsp;&nbsp; 7-21-2032 | 180000 | &nbsp;&nbsp; 153291 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.26%)± | 5.66 | &nbsp;&nbsp; 4-18-2030 | 100000 | &nbsp;&nbsp; 103230 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.45%)± | 5.17 | &nbsp;&nbsp; 1-16-2030 | 70000 | &nbsp;&nbsp; 71076 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.51%)± | 5.19 | &nbsp;&nbsp; 4-17-2031 | 120000 | &nbsp;&nbsp; 121753 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.59%)± | 5.16 | &nbsp;&nbsp; 4-20-2029 | 110000 | &nbsp;&nbsp; 111535 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.63%)± | 5.45 | &nbsp;&nbsp; 7-20-2029 | 80000 | &nbsp;&nbsp; 81828 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+2.08%)± | 4.89 | &nbsp;&nbsp; 7-20-2033 | 50000 | &nbsp;&nbsp; 49252 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR 3 Month+1.40%)± | 3.77 | &nbsp;&nbsp; 1-24-2029 | 10000 | &nbsp;&nbsp; 9786 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR 3 Month+1.89%)± | 4.43 | &nbsp;&nbsp; 1-23-2030 | 110000 | &nbsp;&nbsp; 109087 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (U.S. SOFR+1.07%)± | 5.22 | &nbsp;&nbsp; 1-29-2031 | 70000 | &nbsp;&nbsp; 71128 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (U.S. SOFR+1.20%)± | 5.49 | &nbsp;&nbsp; 5-14-2030 | 110000 | &nbsp;&nbsp; 113116 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (U.S. SOFR+1.93%)± | 5.07 | &nbsp;&nbsp; 1-24-2034 | 50000 | &nbsp;&nbsp; 49404 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (U.S. SOFR+2.14%)± | 6.04 | &nbsp;&nbsp; 10-28-2033 | 210000 | &nbsp;&nbsp; 219739 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | 1.80 | &nbsp;&nbsp; 8-12-2028 | 120000 | &nbsp;&nbsp; 109706 |
| &nbsp;&nbsp;&nbsp; State Street Corp. (U.S. SOFR+1.00%)± | 2.62 | &nbsp;&nbsp; 2-7-2033 | 50000 | &nbsp;&nbsp; 43478 |
| &nbsp;&nbsp;&nbsp; State Street Corp. (U.S. SOFR+1.61%)± | 4.42 | &nbsp;&nbsp; 5-13-2033 | 220000 | &nbsp;&nbsp; 213824 |
| &nbsp;&nbsp;&nbsp; Truist Bank | 2.25 | &nbsp;&nbsp; 3-11-2030 | 250000 | &nbsp;&nbsp; 221014 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. (U.S. SOFR+1.44%)± | 4.87 | &nbsp;&nbsp; 1-26-2029 | 60000 | &nbsp;&nbsp; 60328 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. (U.S. SOFR+1.62%)± | 5.44 | &nbsp;&nbsp; 1-24-2030 | 50000 | &nbsp;&nbsp; 51124 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. (U.S. SOFR+2.45%)± | 7.16 | &nbsp;&nbsp; 10-30-2029 | 110000 | &nbsp;&nbsp; 118419 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+1.25%)± | 5.10 | &nbsp;&nbsp; 7-23-2030 | 110000 | &nbsp;&nbsp; 111361 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+1.56%)± | 5.38 | &nbsp;&nbsp; 1-23-2030 | 50000 | &nbsp;&nbsp; 51139 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+1.88%)± | 6.79 | &nbsp;&nbsp; 10-26-2027 | 200000 | &nbsp;&nbsp; 205931 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 7

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+2.09%)± | 5.85<br> %<br>| &nbsp;&nbsp; 10-21-2033 | $100000 | &nbsp;&nbsp; $103653 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+1.11%)± | 5.24 | &nbsp;&nbsp; 1-24-2031 | 115000 | &nbsp;&nbsp; 116713 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+1.50%)± | 3.35 | &nbsp;&nbsp; 3-2-2033 | 90000 | &nbsp;&nbsp; 80723 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+1.74%)± | 5.57 | &nbsp;&nbsp; 7-25-2029 | 200000 | &nbsp;&nbsp; 205178 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+1.99%)± | 5.56 | &nbsp;&nbsp; 7-25-2034 | 110000 | &nbsp;&nbsp; 111408 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+2.02%)± | 5.39 | &nbsp;&nbsp; 4-24-2034 | 180000 | &nbsp;&nbsp; 180769 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+2.10%)± | 2.39 | &nbsp;&nbsp; 6-2-2028 | 200000 | &nbsp;&nbsp; 191419 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR 3 Month+1.57%)± | 3.58 | &nbsp;&nbsp; 5-22-2028 | 10000 | &nbsp;&nbsp; 9798 |
|  |  |  |  | &nbsp;&nbsp; **9027947** |
| **Diversified financial services: 0.50%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Express Co. (U.S. SOFR+1.28%)± | 5.28 | &nbsp;&nbsp; 7-27-2029 | 110000 | &nbsp;&nbsp; 112555 |
| &nbsp;&nbsp;&nbsp; American Express Co. (U.S. SOFR+1.44%)± | 5.02 | &nbsp;&nbsp; 4-25-2031 | 90000 | &nbsp;&nbsp; 91021 |
| &nbsp;&nbsp;&nbsp; American Express Co. (U.S. SOFR+1.94%)± | 6.49 | &nbsp;&nbsp; 10-30-2031 | 120000 | &nbsp;&nbsp; 129750 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (U.S. SOFR+1.79%)± | 3.27 | &nbsp;&nbsp; 3-1-2030 | 170000 | &nbsp;&nbsp; 160466 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (U.S. SOFR+2.37%)± | 5.27 | &nbsp;&nbsp; 5-10-2033 | 170000 | &nbsp;&nbsp; 168182 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 2.90 | &nbsp;&nbsp; 3-3-2032 | 140000 | &nbsp;&nbsp; 123657 |
|  |  |  |  | &nbsp;&nbsp; **785631** |
| **Insurance: 0.58%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. | 4.85 | &nbsp;&nbsp; 5-7-2030 | 40000 | &nbsp;&nbsp; 40154 |
| &nbsp;&nbsp;&nbsp; Aon Corp. | 3.75 | &nbsp;&nbsp; 5-2-2029 | 140000 | &nbsp;&nbsp; 136005 |
| &nbsp;&nbsp;&nbsp; Aon North America, Inc. | 5.15 | &nbsp;&nbsp; 3-1-2029 | 110000 | &nbsp;&nbsp; 112190 |
| &nbsp;&nbsp;&nbsp; Corebridge Global Funding144A | 5.90 | &nbsp;&nbsp; 9-19-2028 | 160000 | &nbsp;&nbsp; 166279 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 2.38 | &nbsp;&nbsp; 12-15-2031 | 180000 | &nbsp;&nbsp; 155219 |
| &nbsp;&nbsp;&nbsp; New York Life Global Funding144A | 1.20 | &nbsp;&nbsp; 8-7-2030 | 30000 | &nbsp;&nbsp; 25377 |
| &nbsp;&nbsp;&nbsp; NLG Global Funding144A | 5.40 | &nbsp;&nbsp; 1-23-2030 | 125000 | &nbsp;&nbsp; 127117 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Global Funding144A | 4.90 | &nbsp;&nbsp; 6-12-2028 | 30000 | &nbsp;&nbsp; 30427 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Life Insurance Co.144A | 3.45 | &nbsp;&nbsp; 3-30-2051 | 160000 | &nbsp;&nbsp; 107513 |
|  |  |  |  | &nbsp;&nbsp; **900281** |
| **REITs: 2.49%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Agree LP | 2.90 | &nbsp;&nbsp; 10-1-2030 | 280000 | &nbsp;&nbsp; 254256 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 2.00 | &nbsp;&nbsp; 5-18-2032 | 140000 | &nbsp;&nbsp; 112970 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 3.38 | &nbsp;&nbsp; 8-15-2031 | 120000 | &nbsp;&nbsp; 108569 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 3.95 | &nbsp;&nbsp; 1-15-2028 | 30000 | &nbsp;&nbsp; 29563 |
| &nbsp;&nbsp;&nbsp; CubeSmart LP | 2.25 | &nbsp;&nbsp; 12-15-2028 | 230000 | &nbsp;&nbsp; 212379 |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust LP | 4.45 | &nbsp;&nbsp; 7-15-2028 | 250000 | &nbsp;&nbsp; 249148 |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust LP | 5.55 | &nbsp;&nbsp; 1-15-2028 | 110000 | &nbsp;&nbsp; 112623 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage LP | 3.90 | &nbsp;&nbsp; 4-1-2029 | 200000 | &nbsp;&nbsp; 194092 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage LP | 5.50 | &nbsp;&nbsp; 7-1-2030 | 130000 | &nbsp;&nbsp; 133213 |
| &nbsp;&nbsp;&nbsp; Federal Realty OP LP | 5.38 | &nbsp;&nbsp; 5-1-2028 | 140000 | &nbsp;&nbsp; 142678 |
| &nbsp;&nbsp;&nbsp; Healthpeak OP LLC | 2.88 | &nbsp;&nbsp; 1-15-2031 | 230000 | &nbsp;&nbsp; 206505 |
| &nbsp;&nbsp;&nbsp; Healthpeak OP LLC | 3.50 | &nbsp;&nbsp; 7-15-2029 | 200000 | &nbsp;&nbsp; 190711 |
| &nbsp;&nbsp;&nbsp; Kimco Realty OP LLC | 2.25 | &nbsp;&nbsp; 12-1-2031 | 115000 | &nbsp;&nbsp; 97902 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartments LP | 4.20 | &nbsp;&nbsp; 6-15-2028 | 120000 | &nbsp;&nbsp; 119049 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. | 3.50 | &nbsp;&nbsp; 10-15-2027 | 10000 | &nbsp;&nbsp; 9761 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. | 4.30 | &nbsp;&nbsp; 10-15-2028 | 110000 | &nbsp;&nbsp; 108762 |

---

See accompanying notes to portfolio of investments

8 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Prologis LP | 1.75<br> %<br>| &nbsp;&nbsp; 7-1-2030 | $10000 | &nbsp;&nbsp; $8686 |
| &nbsp;&nbsp;&nbsp; Prologis LP | 1.75 | &nbsp;&nbsp; 2-1-2031 | 30000 | &nbsp;&nbsp; 25706 |
| &nbsp;&nbsp;&nbsp; Prologis LP | 4.75 | &nbsp;&nbsp; 1-15-2031 | 30000 | &nbsp;&nbsp; 30094 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | 4.85 | &nbsp;&nbsp; 3-15-2030 | 110000 | &nbsp;&nbsp; 110922 |
| &nbsp;&nbsp;&nbsp; Regency Centers LP | 5.00 | &nbsp;&nbsp; 7-15-2032 | 100000 | &nbsp;&nbsp; 99819 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty LP | 5.00 | &nbsp;&nbsp; 6-15-2028 | 280000 | &nbsp;&nbsp; 280164 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. | 3.00 | &nbsp;&nbsp; 8-15-2031 | 100000 | &nbsp;&nbsp; 89716 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. | 3.20 | &nbsp;&nbsp; 1-15-2030 | 40000 | &nbsp;&nbsp; 37662 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. | 4.40 | &nbsp;&nbsp; 1-26-2029 | 250000 | &nbsp;&nbsp; 247955 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP | 2.50 | &nbsp;&nbsp; 9-1-2031 | 30000 | &nbsp;&nbsp; 26079 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP | 4.00 | &nbsp;&nbsp; 3-1-2028 | 110000 | &nbsp;&nbsp; 108248 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP | 4.13 | &nbsp;&nbsp; 1-15-2026 | 110000 | &nbsp;&nbsp; 109452 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP | 4.40 | &nbsp;&nbsp; 1-15-2029 | 80000 | &nbsp;&nbsp; 79187 |
| &nbsp;&nbsp;&nbsp; Welltower OP LLC | 2.75 | &nbsp;&nbsp; 1-15-2032 | 150000 | &nbsp;&nbsp; 131868 |
| &nbsp;&nbsp;&nbsp; Welltower OP LLC | 2.80 | &nbsp;&nbsp; 6-1-2031 | 30000 | &nbsp;&nbsp; 26834 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 4.00 | &nbsp;&nbsp; 4-15-2030 | 180000 | &nbsp;&nbsp; 174194 |
|  |  |  |  | &nbsp;&nbsp; **3868767** |
| **Industrial: 1.62%** |  |  |  |  |
| **Aerospace/defense: 0.61%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 2.20 | &nbsp;&nbsp; 2-4-2026 | 120000 | &nbsp;&nbsp; 117875 |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 2.70 | &nbsp;&nbsp; 2-1-2027 | 120000 | &nbsp;&nbsp; 116205 |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 5.15 | &nbsp;&nbsp; 5-1-2030 | 160000 | &nbsp;&nbsp; 161403 |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 5.71 | &nbsp;&nbsp; 5-1-2040 | 120000 | &nbsp;&nbsp; 115800 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 5.40 | &nbsp;&nbsp; 7-31-2033 | 50000 | &nbsp;&nbsp; 50670 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 2.25 | &nbsp;&nbsp; 7-1-2030 | 130000 | &nbsp;&nbsp; 116093 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 2.38 | &nbsp;&nbsp; 3-15-2032 | 50000 | &nbsp;&nbsp; 42708 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 4.13 | &nbsp;&nbsp; 11-16-2028 | 120000 | &nbsp;&nbsp; 118762 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 6.00 | &nbsp;&nbsp; 3-15-2031 | 110000 | &nbsp;&nbsp; 116823 |
|  |  |  |  | &nbsp;&nbsp; **956339** |
| **Building materials: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Holcim Finance U.S. LLC144A | 4.95 | &nbsp;&nbsp; 4-7-2030 | 120000 | &nbsp;&nbsp; 120770 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. | 1.70 | &nbsp;&nbsp; 8-1-2027 | 82000 | &nbsp;&nbsp; 76915 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. | 5.50 | &nbsp;&nbsp; 9-15-2028 | 70000 | &nbsp;&nbsp; 71898 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. Series CB | 2.50 | &nbsp;&nbsp; 3-15-2030 | 180000 | &nbsp;&nbsp; 163666 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | 2.00 | &nbsp;&nbsp; 10-1-2030 | 50000 | &nbsp;&nbsp; 43058 |
|  |  |  |  | &nbsp;&nbsp; **476307** |
| **Electronics: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. | 2.20 | &nbsp;&nbsp; 9-15-2031 | 50000 | &nbsp;&nbsp; **43329** |
| **Machinery-construction & mining: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Oshkosh Corp. | 3.10 | &nbsp;&nbsp; 3-1-2030 | 75000 | &nbsp;&nbsp; **69072** |
| **Machinery-diversified: 0.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CNH Industrial Capital LLC | 5.10 | &nbsp;&nbsp; 4-20-2029 | 160000 | &nbsp;&nbsp; **162023** |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 9

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Packaging & containers: 0.35%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | 3.00<br> %<br>| &nbsp;&nbsp; 12-15-2029 | $170000 | &nbsp;&nbsp; $158701 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp.144A | 1.57 | &nbsp;&nbsp; 10-15-2026 | 350000 | &nbsp;&nbsp; 333395 |
| &nbsp;&nbsp;&nbsp; WRKCo, Inc. | 3.90 | &nbsp;&nbsp; 6-1-2028 | 50000 | &nbsp;&nbsp; 48970 |
|  |  |  |  | &nbsp;&nbsp; **541066** |
| **Transportation: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FedEx Corp.144A | 3.90 | &nbsp;&nbsp; 2-1-2035 | 50000 | &nbsp;&nbsp; 43579 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 3.00 | &nbsp;&nbsp; 3-15-2032 | 67000 | &nbsp;&nbsp; 59848 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 4.55 | &nbsp;&nbsp; 6-1-2053 | 110000 | &nbsp;&nbsp; 90116 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 5.10 | &nbsp;&nbsp; 8-1-2118 | 100000 | &nbsp;&nbsp; 82314 |
|  |  |  |  | &nbsp;&nbsp; **275857** |
| **Technology: 1.52%** |  |  |  |  |
| **Computers: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 4.55 | &nbsp;&nbsp; 10-15-2029 | 290000 | &nbsp;&nbsp; 287561 |
| &nbsp;&nbsp;&nbsp; HP, Inc. | 4.00 | &nbsp;&nbsp; 4-15-2029 | 270000 | &nbsp;&nbsp; 261605 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | 4.00 | &nbsp;&nbsp; 6-20-2042 | 130000 | &nbsp;&nbsp; 105514 |
|  |  |  |  | &nbsp;&nbsp; **654680** |
| **Semiconductors: 0.34%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 4.35 | &nbsp;&nbsp; 2-15-2030 | 70000 | &nbsp;&nbsp; 69193 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | 3.90 | &nbsp;&nbsp; 3-25-2030 | 120000 | &nbsp;&nbsp; 114885 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | 5.00 | &nbsp;&nbsp; 2-21-2031 | 80000 | &nbsp;&nbsp; 80197 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 5.05 | &nbsp;&nbsp; 3-15-2029 | 50000 | &nbsp;&nbsp; 50316 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 5.05 | &nbsp;&nbsp; 2-15-2030 | 210000 | &nbsp;&nbsp; 210581 |
|  |  |  |  | &nbsp;&nbsp; **525172** |
| **Software: 0.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. | 3.50 | &nbsp;&nbsp; 7-1-2029 | 170000 | &nbsp;&nbsp; 162066 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. | 4.20 | &nbsp;&nbsp; 10-1-2028 | 110000 | &nbsp;&nbsp; 108821 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. | 4.75 | &nbsp;&nbsp; 3-15-2030 | 20000 | &nbsp;&nbsp; 19944 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 2.88 | &nbsp;&nbsp; 3-25-2031 | 200000 | &nbsp;&nbsp; 180307 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 2.95 | &nbsp;&nbsp; 4-1-2030 | 50000 | &nbsp;&nbsp; 46303 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 3.80 | &nbsp;&nbsp; 11-15-2037 | 160000 | &nbsp;&nbsp; 133450 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 3.85 | &nbsp;&nbsp; 7-15-2036 | 100000 | &nbsp;&nbsp; 86263 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 4.20 | &nbsp;&nbsp; 9-27-2029 | 120000 | &nbsp;&nbsp; 118188 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 6.15 | &nbsp;&nbsp; 11-9-2029 | 20000 | &nbsp;&nbsp; 21225 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | 2.95 | &nbsp;&nbsp; 9-15-2029 | 170000 | &nbsp;&nbsp; 159030 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | 4.50 | &nbsp;&nbsp; 10-15-2029 | 100000 | &nbsp;&nbsp; 99501 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. | 5.40 | &nbsp;&nbsp; 6-12-2029 | 50000 | &nbsp;&nbsp; 51035 |
|  |  |  |  | &nbsp;&nbsp; **1186133** |
| **Utilities: 4.73%** |  |  |  |  |
| **Electric: 4.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AEP Transmission Co. LLC | 5.15 | &nbsp;&nbsp; 4-1-2034 | 180000 | &nbsp;&nbsp; 178584 |
| &nbsp;&nbsp;&nbsp; Alabama Power Co. | 5.85 | &nbsp;&nbsp; 11-15-2033 | 70000 | &nbsp;&nbsp; 73611 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Finance LLC144A | 3.60 | &nbsp;&nbsp; 3-1-2032 | 120000 | &nbsp;&nbsp; 107497 |
| &nbsp;&nbsp;&nbsp; Ameren Missouri Securitization Funding I LLC Series A-1 | 4.85 | &nbsp;&nbsp; 10-1-2039 | 55000 | &nbsp;&nbsp; 53820 |

---

See accompanying notes to portfolio of investments

10 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Transmission Systems, Inc.144A | 2.65<br> %<br>| &nbsp;&nbsp; 1-15-2032 | $230000 | &nbsp;&nbsp; $199410 |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. | 4.35 | &nbsp;&nbsp; 5-1-2033 | 240000 | &nbsp;&nbsp; 222978 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Houston Electric LLC Series AI | 4.45 | &nbsp;&nbsp; 10-1-2032 | 320000 | &nbsp;&nbsp; 309756 |
| &nbsp;&nbsp;&nbsp; Commonwealth Edison Co. Series 103 | 5.90 | &nbsp;&nbsp; 3-15-2036 | 120000 | &nbsp;&nbsp; 125602 |
| &nbsp;&nbsp;&nbsp; Commonwealth Edison Co. Series 133 | 3.85 | &nbsp;&nbsp; 3-15-2052 | 210000 | &nbsp;&nbsp; 151677 |
| &nbsp;&nbsp;&nbsp; Connecticut Light & Power Co. | 4.65 | &nbsp;&nbsp; 1-1-2029 | 110000 | &nbsp;&nbsp; 110842 |
| &nbsp;&nbsp;&nbsp; Connecticut Light & Power Co. Series A | 2.05 | &nbsp;&nbsp; 7-1-2031 | 130000 | &nbsp;&nbsp; 112057 |
| &nbsp;&nbsp;&nbsp; Dominion Energy South Carolina, Inc. | 6.25 | &nbsp;&nbsp; 10-15-2053 | 130000 | &nbsp;&nbsp; 136279 |
| &nbsp;&nbsp;&nbsp; Dominion Energy South Carolina, Inc. Series 2025 | 5.30 | &nbsp;&nbsp; 1-15-2035 | 110000 | &nbsp;&nbsp; 110351 |
| &nbsp;&nbsp;&nbsp; Dominion Energy South Carolina, Inc. Series A | 2.30 | &nbsp;&nbsp; 12-1-2031 | 200000 | &nbsp;&nbsp; 172748 |
| &nbsp;&nbsp;&nbsp; DTE Electric Co. Series C | 2.63 | &nbsp;&nbsp; 3-1-2031 | 130000 | &nbsp;&nbsp; 116843 |
| &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC | 3.55 | &nbsp;&nbsp; 3-15-2052 | 70000 | &nbsp;&nbsp; 48580 |
| &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC | 6.00 | &nbsp;&nbsp; 1-15-2038 | 120000 | &nbsp;&nbsp; 124631 |
| &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC | 6.05 | &nbsp;&nbsp; 4-15-2038 | 130000 | &nbsp;&nbsp; 135798 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC | 2.00 | &nbsp;&nbsp; 8-15-2031 | 230000 | &nbsp;&nbsp; 196764 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC | 3.40 | &nbsp;&nbsp; 4-1-2032 | 60000 | &nbsp;&nbsp; 54869 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC | 4.10 | &nbsp;&nbsp; 3-15-2043 | 140000 | &nbsp;&nbsp; 112929 |
| &nbsp;&nbsp;&nbsp; Entergy Arkansas LLC | 5.15 | &nbsp;&nbsp; 1-15-2033 | 180000 | &nbsp;&nbsp; 181281 |
| &nbsp;&nbsp;&nbsp; Entergy Arkansas LLC | 5.45 | &nbsp;&nbsp; 6-1-2034 | 110000 | &nbsp;&nbsp; 111452 |
| &nbsp;&nbsp;&nbsp; Evergy Kansas Central, Inc. | 3.45 | &nbsp;&nbsp; 4-15-2050 | 10000 | &nbsp;&nbsp; 6733 |
| &nbsp;&nbsp;&nbsp; Evergy Kansas Central, Inc. | 5.25 | &nbsp;&nbsp; 3-15-2035 | 310000 | &nbsp;&nbsp; 308328 |
| &nbsp;&nbsp;&nbsp; Evergy Metro, Inc. Series 2020 | 2.25 | &nbsp;&nbsp; 6-1-2030 | 70000 | &nbsp;&nbsp; 62378 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | 5.15 | &nbsp;&nbsp; 3-15-2028 | 110000 | &nbsp;&nbsp; 111891 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Transmission LLC144A | 2.87 | &nbsp;&nbsp; 9-15-2028 | 120000 | &nbsp;&nbsp; 113494 |
| &nbsp;&nbsp;&nbsp; Florida Power & Light Co. | 5.30 | &nbsp;&nbsp; 6-15-2034 | 110000 | &nbsp;&nbsp; 111746 |
| &nbsp;&nbsp;&nbsp; Florida Power & Light Co. | 5.30 | &nbsp;&nbsp; 4-1-2053 | 120000 | &nbsp;&nbsp; 111626 |
| &nbsp;&nbsp;&nbsp; Florida Power & Light Co. | 5.65 | &nbsp;&nbsp; 2-1-2037 | 30000 | &nbsp;&nbsp; 30975 |
| &nbsp;&nbsp;&nbsp; Indianapolis Power & Light Co.144A | 5.70 | &nbsp;&nbsp; 4-1-2054 | 190000 | &nbsp;&nbsp; 180864 |
| &nbsp;&nbsp;&nbsp; Kentucky Utilities Co. Series KENT | 5.45 | &nbsp;&nbsp; 4-15-2033 | 70000 | &nbsp;&nbsp; 71471 |
| &nbsp;&nbsp;&nbsp; Mid-Atlantic Interstate Transmission LLC144A | 4.10 | &nbsp;&nbsp; 5-15-2028 | 60000 | &nbsp;&nbsp; 59214 |
| &nbsp;&nbsp;&nbsp; Northern States Power Co. | 3.40 | &nbsp;&nbsp; 8-15-2042 | 110000 | &nbsp;&nbsp; 82141 |
| &nbsp;&nbsp;&nbsp; Northern States Power Co. | 4.50 | &nbsp;&nbsp; 6-1-2052 | 230000 | &nbsp;&nbsp; 189117 |
| &nbsp;&nbsp;&nbsp; NorthWestern Corp.144A | 5.07 | &nbsp;&nbsp; 3-21-2030 | 190000 | &nbsp;&nbsp; 191999 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC | 2.75 | &nbsp;&nbsp; 5-15-2030 | 190000 | &nbsp;&nbsp; 174389 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC | 4.60 | &nbsp;&nbsp; 6-1-2052 | 120000 | &nbsp;&nbsp; 97622 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC144A | 5.35 | &nbsp;&nbsp; 4-1-2035 | 135000 | &nbsp;&nbsp; 135234 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of New Hampshire | 5.35 | &nbsp;&nbsp; 10-1-2033 | 110000 | &nbsp;&nbsp; 111864 |
| &nbsp;&nbsp;&nbsp; Public Service Electric & Gas Co. | 3.10 | &nbsp;&nbsp; 3-15-2032 | 130000 | &nbsp;&nbsp; 117161 |
| &nbsp;&nbsp;&nbsp; Public Service Electric & Gas Co. | 3.95 | &nbsp;&nbsp; 5-1-2042 | 180000 | &nbsp;&nbsp; 144476 |
| &nbsp;&nbsp;&nbsp; Public Service Electric & Gas Co. | 5.20 | &nbsp;&nbsp; 3-1-2034 | 10000 | &nbsp;&nbsp; 10111 |
| &nbsp;&nbsp;&nbsp; Puget Sound Energy, Inc. | 5.33 | &nbsp;&nbsp; 6-15-2034 | 110000 | &nbsp;&nbsp; 110287 |
| &nbsp;&nbsp;&nbsp; Puget Sound Energy, Inc. | 5.45 | &nbsp;&nbsp; 6-1-2053 | 150000 | &nbsp;&nbsp; 138709 |
| &nbsp;&nbsp;&nbsp; Tucson Electric Power Co. | 3.25 | &nbsp;&nbsp; 5-15-2032 | 70000 | &nbsp;&nbsp; 62502 |
| &nbsp;&nbsp;&nbsp; Union Electric Co. | 5.20 | &nbsp;&nbsp; 4-1-2034 | 190000 | &nbsp;&nbsp; 189929 |
| &nbsp;&nbsp;&nbsp; Union Electric Co. | 5.45 | &nbsp;&nbsp; 3-15-2053 | 70000 | &nbsp;&nbsp; 65512 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. | 2.20 | &nbsp;&nbsp; 12-15-2028 | 100000 | &nbsp;&nbsp; 92320 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. | 5.15 | &nbsp;&nbsp; 10-1-2027 | 240000 | &nbsp;&nbsp; 243242 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 11

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Wisconsin Power & Light Co. | 3.95<br> %<br>| &nbsp;&nbsp; 9-1-2032 | $120000 | &nbsp;&nbsp; $111765 |
| &nbsp;&nbsp;&nbsp; Wisconsin Power & Light Co. | 5.38 | &nbsp;&nbsp; 3-30-2034 | 70000 | &nbsp;&nbsp; 70116 |
|  |  |  |  | &nbsp;&nbsp; **6655575** |
| **Gas: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 5.90 | &nbsp;&nbsp; 11-15-2033 | 110000 | &nbsp;&nbsp; 116193 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Resources Corp. | 1.75 | &nbsp;&nbsp; 10-1-2030 | 70000 | &nbsp;&nbsp; 60154 |
| &nbsp;&nbsp;&nbsp; ONE Gas, Inc. | 5.10 | &nbsp;&nbsp; 4-1-2029 | 110000 | &nbsp;&nbsp; 112212 |
| &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp. | 4.95 | &nbsp;&nbsp; 9-15-2034 | 200000 | &nbsp;&nbsp; 193061 |
| &nbsp;&nbsp;&nbsp; Spire Missouri, Inc. Series 2034 | 5.15 | &nbsp;&nbsp; 8-15-2034 | 110000 | &nbsp;&nbsp; 109856 |
|  |  |  |  | &nbsp;&nbsp; **591476** |
| **Water: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Water Capital Corp. | 2.80 | &nbsp;&nbsp; 5-1-2030 | 120000 | &nbsp;&nbsp; **110074** |
| **Total corporate bonds and notes (Cost $41,618,626)** |  |  |  | &nbsp;&nbsp; **42078694** |
| **Municipal obligations: 4.67%** |  |  |  |  |
| **California: 0.38%** |  |  |  |  |
| **GO revenue: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cupertino Union School District | 2.35 | &nbsp;&nbsp; 8-1-2028 | 85000 | &nbsp;&nbsp; 80353 |
| &nbsp;&nbsp;&nbsp; Los Angeles Community College District | 1.17 | &nbsp;&nbsp; 8-1-2026 | 100000 | &nbsp;&nbsp; 96400 |
| &nbsp;&nbsp;&nbsp; Los Angeles Community College District | 1.81 | &nbsp;&nbsp; 8-1-2030 | 100000 | &nbsp;&nbsp; 88629 |
| &nbsp;&nbsp;&nbsp; State of California | 5.75 | &nbsp;&nbsp; 10-1-2031 | 150000 | &nbsp;&nbsp; 159678 |
| &nbsp;&nbsp;&nbsp; State of California | 7.55 | &nbsp;&nbsp; 4-1-2039 | 135000 | &nbsp;&nbsp; 159730 |
|  |  |  |  | &nbsp;&nbsp; **584790** |
| **Hawaii: 0.14%** |  |  |  |  |
| **GO revenue: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City & County of Honolulu Series F | 3.75 | &nbsp;&nbsp; 9-1-2030 | 25000 | &nbsp;&nbsp; 24313 |
| &nbsp;&nbsp;&nbsp; State of Hawaii Series GN | 4.62 | &nbsp;&nbsp; 10-1-2032 | 200000 | &nbsp;&nbsp; 198689 |
|  |  |  |  | &nbsp;&nbsp; **223002** |
| **Louisiana: 0.38%** |  |  |  |  |
| **Miscellaneous revenue: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Louisiana Local Government Environmental Facilities & CDA Series A | 4.28 | &nbsp;&nbsp; 2-1-2036 | 525000 | &nbsp;&nbsp; 500892 |
| &nbsp;&nbsp;&nbsp; Louisiana Local Government Environmental Facilities & CDA Series A | 4.48 | &nbsp;&nbsp; 8-1-2039 | 100000 | &nbsp;&nbsp; 93675 |
|  |  |  |  | &nbsp;&nbsp; **594567** |
| **Maryland: 0.28%** |  |  |  |  |
| **Housing revenue: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland Department of Housing & Community Development <br> Series D (GNMA / FNMA / FHLMC Insured)%%<br>| 5.50 | &nbsp;&nbsp; 9-1-2055 | 440000 | &nbsp;&nbsp; **443196** |
| **Massachusetts: 0.24%** |  |  |  |  |
| **GO revenue: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts | 5.46 | &nbsp;&nbsp; 12-1-2039 | 50000 | &nbsp;&nbsp; **50029** |

---

See accompanying notes to portfolio of investments

12 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Miscellaneous revenue: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts COVID-19 Recovery Assessment <br> Revenue Series B<br>| 4.11<br> %<br>| &nbsp;&nbsp; 7-15-2031 | $51233 | &nbsp;&nbsp; **$50612** |
| **Tax revenue: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Massachusetts School Building Authority | 5.72 | &nbsp;&nbsp; 8-15-2039 | 275000 | &nbsp;&nbsp; **280410** |
|  |  |  |  | &nbsp;&nbsp; **381051** |
| **Michigan: 0.23%** |  |  |  |  |
| **Health revenue: 0.23%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan Finance Authority Trinity Health Corp. Obligated Group <br> Series T<br>| 3.08 | &nbsp;&nbsp; 12-1-2034 | 410000 | &nbsp;&nbsp; **361065** |
| **Nebraska: 0.35%** |  |  |  |  |
| **Education revenue: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; University of Nebraska Facilities Corp. Series A | 3.19 | &nbsp;&nbsp; 10-1-2039 | 250000 | &nbsp;&nbsp; **202603** |
| **Housing revenue: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nebraska Investment Finance Authority Series B (GNMA / FNMA / <br> FHLMC Insured)<br>| 6.00 | &nbsp;&nbsp; 9-1-2053 | 325000 | &nbsp;&nbsp; **336587** |
|  |  |  |  | &nbsp;&nbsp; **539190** |
| **New York: 0.84%** |  |  |  |  |
| **GO revenue: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; State of New York Series B | 2.36 | &nbsp;&nbsp; 2-15-2027 | 40000 | &nbsp;&nbsp; **38828** |
| **Tax revenue: 0.57%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax Secured <br> Revenue Series I-2<br>| 5.22 | &nbsp;&nbsp; 5-1-2033 | 325000 | &nbsp;&nbsp; 329218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Dormitory Authority Personal Income Tax Revenue <br> Series D<br>| 5.50 | &nbsp;&nbsp; 3-15-2030 | 88422 | &nbsp;&nbsp; 89780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Dormitory Authority Personal Income Tax Revenue <br> Series F<br>| 5.63 | &nbsp;&nbsp; 3-15-2039 | 470000 | &nbsp;&nbsp; 474281 |
|  |  |  |  | &nbsp;&nbsp; **893279** |
| **Water & sewer revenue: 0.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority Water & Sewer <br> System Series GG<br>| 5.72 | &nbsp;&nbsp; 6-15-2042 | 375000 | &nbsp;&nbsp; **369589** |
|  |  |  |  | &nbsp;&nbsp; **1301696** |
| **North Carolina: 0.16%** |  |  |  |  |
| **Education revenue: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; University of North Carolina at Chapel Hill | 3.85 | &nbsp;&nbsp; 12-1-2034 | 260000 | &nbsp;&nbsp; **241550** |
| **Ohio: 0.18%** |  |  |  |  |
| **Health revenue: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio Higher Educational Facility Commission Cleveland Clinic Health <br> System Obligated Group<br>| 4.72 | &nbsp;&nbsp; 1-1-2032 | 100000 | &nbsp;&nbsp; 99953 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 13

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Health revenue**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Ohio Cleveland Clinic Health System Obligated Group <br> Series B<br>| 3.17<br> %<br>| &nbsp;&nbsp; 1-1-2030 | $100000 | &nbsp;&nbsp; $94693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Ohio Cleveland Clinic Health System Obligated Group <br> Series G<br>| 3.28 | &nbsp;&nbsp; 1-1-2042 | 100000 | &nbsp;&nbsp; 80513 |
|  |  |  |  | &nbsp;&nbsp; **275159** |
| **Oklahoma: 0.21%** |  |  |  |  |
| **Utilities revenue: 0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Oklahoma Development Finance Authority Series 2022-ONG | 4.38 | &nbsp;&nbsp; 11-1-2045 | 145000 | &nbsp;&nbsp; 131096 |
| &nbsp;&nbsp;&nbsp; Oklahoma Development Finance Authority Series A-2 | 4.85 | &nbsp;&nbsp; 2-1-2045 | 200000 | &nbsp;&nbsp; 192174 |
|  |  |  |  | &nbsp;&nbsp; **323270** |
| **Oregon: 0.33%** |  |  |  |  |
| **GO revenue: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; State of Oregon | 5.89 | &nbsp;&nbsp; 6-1-2027 | 70916 | &nbsp;&nbsp; 72044 |
| &nbsp;&nbsp;&nbsp; State of Oregon Series A | 5.90 | &nbsp;&nbsp; 8-1-2038 | 200000 | &nbsp;&nbsp; 206169 |
| &nbsp;&nbsp;&nbsp; State of Oregon Series B | 5.30 | &nbsp;&nbsp; 5-1-2036 | 225000 | &nbsp;&nbsp; 228847 |
|  |  |  |  | &nbsp;&nbsp; **507060** |
| **South Dakota: 0.06%** |  |  |  |  |
| **Housing revenue: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Dakota Housing Development Authority Series E (GNMA / <br> FNMA / FHLMC Insured)<br>| 6.25 | &nbsp;&nbsp; 5-1-2054 | 95000 | &nbsp;&nbsp; **98529** |
| **Texas: 0.58%** |  |  |  |  |
| **Education revenue: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Waco Educational Finance Corp. Baylor University Series B | 4.87 | &nbsp;&nbsp; 3-1-2030 | 250000 | &nbsp;&nbsp; **252852** |
| **GO revenue: 0.36%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; State of Texas | 2.70 | &nbsp;&nbsp; 4-1-2031 | 225000 | &nbsp;&nbsp; 205564 |
| &nbsp;&nbsp;&nbsp; State of Texas Series A | 4.68 | &nbsp;&nbsp; 4-1-2040 | 35000 | &nbsp;&nbsp; 32997 |
| &nbsp;&nbsp;&nbsp; Texas Transportation Commission Mobility Fund | 1.88 | &nbsp;&nbsp; 10-1-2034 | 350000 | &nbsp;&nbsp; 276517 |
| &nbsp;&nbsp;&nbsp; Texas Transportation Commission Mobility Fund | 2.47 | &nbsp;&nbsp; 10-1-2044 | 75000 | &nbsp;&nbsp; 50222 |
|  |  |  |  | &nbsp;&nbsp; **565300** |
| **Utilities revenue: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Texas Natural Gas Securitization Finance Corp. Series 2023-1 | 5.10 | &nbsp;&nbsp; 4-1-2035 | 88267 | &nbsp;&nbsp; **89783** |
|  |  |  |  | &nbsp;&nbsp; **907935** |
| **Virginia: 0.31%** |  |  |  |  |
| **Housing revenue: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virginia College Building Authority Series 2020B | 1.97 | &nbsp;&nbsp; 2-1-2032 | 150000 | &nbsp;&nbsp; 127271 |
| &nbsp;&nbsp;&nbsp; Virginia Resources Authority Series B | 5.70 | &nbsp;&nbsp; 11-1-2039 | 350000 | &nbsp;&nbsp; 351287 |
|  |  |  |  | &nbsp;&nbsp; **478558** |
| **Total municipal obligations (Cost $7,232,832)** |  |  |  | &nbsp;&nbsp; **7260618** |

---

See accompanying notes to portfolio of investments

14 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities: 4.59%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ALA Trust Series 2025-OANA Class A (U.S. SOFR 1 <br> Month+1.74%)144A±%%<br>| 6.04<br> %<br>| &nbsp;&nbsp; 6-15-2030 | $240000 | &nbsp;&nbsp; $241005 |
| &nbsp;&nbsp;&nbsp; Beacon Gateway♦±±%% | 5.24 | &nbsp;&nbsp; 6-30-2025 | 800000 | &nbsp;&nbsp; 816500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BMP Trust Series 2024-MF23 Class A (U.S. SOFR 1 <br> Month+1.37%)144A±<br>| 5.70 | &nbsp;&nbsp; 6-15-2041 | 300000 | &nbsp;&nbsp; 300187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BOCA Commercial Mortgage Trust Series 2024-BOCA Class A <br> (U.S. SOFR 1 Month+1.92%)144A±<br>| 6.25 | &nbsp;&nbsp; 8-15-2041 | 150000 | &nbsp;&nbsp; 150234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BPR Trust Series 2022-OANA Class A (U.S. SOFR 1 <br> Month+1.90%)144A±<br>| 6.23 | &nbsp;&nbsp; 4-15-2037 | 350000 | &nbsp;&nbsp; 349891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2021-VOLT Class A (U.S. SOFR <br> 1 Month+0.81%)144A±<br>| 5.14 | &nbsp;&nbsp; 9-15-2036 | 350000 | &nbsp;&nbsp; 348250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2022-AHP Class A (U.S. SOFR 1 <br> Month+0.99%)144A±<br>| 5.32 | &nbsp;&nbsp; 1-17-2039 | 350000 | &nbsp;&nbsp; 348469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2024-GPA3 Class A (U.S. SOFR <br> 1 Month+1.29%)144A±<br>| 5.62 | &nbsp;&nbsp; 12-15-2039 | 140657 | &nbsp;&nbsp; 140657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2024-XL5 Class A (U.S. SOFR 1 <br> Month+1.39%)144A±<br>| 5.72 | &nbsp;&nbsp; 3-15-2041 | 293377 | &nbsp;&nbsp; 293560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2021-RISE Class A (U.S. SOFR 1 <br> Month+0.86%)144A±<br>| 5.19 | &nbsp;&nbsp; 11-15-2036 | 126799 | &nbsp;&nbsp; 126403 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2024-BIO Class A (U.S. SOFR 1 Month+1.64%)144A± | 5.97 | &nbsp;&nbsp; 2-15-2041 | 150000 | &nbsp;&nbsp; 149438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2025-DIME Class A (U.S. SOFR 1 <br> Month+1.15%)144A±<br>| 5.48 | &nbsp;&nbsp; 2-15-2035 | 665000 | &nbsp;&nbsp; 662506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2025-LUNR Class A (U.S. SOFR 1 <br> Month+1.50%)144A±%%<br>| 5.83 | &nbsp;&nbsp; 6-9-2040 | 400000 | &nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2025-ROIC Class A (U.S. SOFR 1 <br> Month+1.14%)144A±<br>| 5.47 | &nbsp;&nbsp; 3-15-2030 | 270000 | &nbsp;&nbsp; 267975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust Series 2021-ESH Class A (U.S. SOFR 1 <br> Month+1.19%)144A±<br>| 5.52 | &nbsp;&nbsp; 7-15-2038 | 300205 | &nbsp;&nbsp; 300205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great Wolf Trust Series 2024-WOLF Class A (U.S. SOFR 1 <br> Month+1.54%)144A±<br>| 5.87 | &nbsp;&nbsp; 3-15-2039 | 307000 | &nbsp;&nbsp; 306808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INTOWN Mortgage Trust Series 2025-STAY Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.68 | &nbsp;&nbsp; 3-15-2042 | 300000 | &nbsp;&nbsp; 298313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Mortgage Trust Series 2022-BMR2 Class A1 (U.S. SOFR 1 <br> Month+1.30%)144A±<br>| 5.62 | &nbsp;&nbsp; 5-15-2039 | 240000 | &nbsp;&nbsp; 232800 |
| &nbsp;&nbsp;&nbsp; ONNI Commercial Mortgage Trust Series 2024-APT Class A144A±± | 5.57 | &nbsp;&nbsp; 7-15-2039 | 350000 | &nbsp;&nbsp; 354952 |
| &nbsp;&nbsp;&nbsp; ROCK Trust Series 2024-CNTR Class A144A | 5.39 | &nbsp;&nbsp; 11-13-2041 | 150000 | &nbsp;&nbsp; 151893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMRT Commercial Mortgage Trust Series 2022-MINI Class A <br> (U.S. SOFR 1 Month+1.00%)144A±<br>| 5.33 | &nbsp;&nbsp; 1-15-2039 | 170000 | &nbsp;&nbsp; 169150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SREIT Trust Series 2021-MFP2 Class A (U.S. SOFR 1 <br> Month+0.94%)144A±<br>| 5.27 | &nbsp;&nbsp; 11-15-2036 | 350000 | &nbsp;&nbsp; 349125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust Series 2025-DATA Class A <br> (U.S. SOFR 1 Month+1.44%)144A±<br>| 5.77 | &nbsp;&nbsp; 2-15-2042 | 265000 | &nbsp;&nbsp; 262681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCO Commercial Mortgage Trust Series 2024-DPM Class A (U.S. SOFR <br> 1 Month+1.24%)144A±<br>| 5.57 | &nbsp;&nbsp; 12-15-2039 | 125000 | &nbsp;&nbsp; 124961 |
| **Total non-agency mortgage-backed securities (Cost $7,163,570)** |  |  |  | &nbsp;&nbsp; **7145963** |
| **U.S. Treasury securities: 11.78%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TIPS | 2.13 | &nbsp;&nbsp; 1-15-2035 | 891748 | &nbsp;&nbsp; 897981 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 2-15-2055 | 6595000 | &nbsp;&nbsp; 6289981 |

---

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 15

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **U.S. Treasury securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds%% | 5.00<br> %<br>| &nbsp;&nbsp; 5-15-2045 | $7160000 | &nbsp;&nbsp; $7232719 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 3.75 | &nbsp;&nbsp; 5-15-2028 | 780000 | &nbsp;&nbsp; 777684 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 4.25 | &nbsp;&nbsp; 1-15-2028 | 3100000 | &nbsp;&nbsp; 3128336 |
| **Total U.S. Treasury securities (Cost $17,995,206)** |  |  |  | &nbsp;&nbsp; **18326701** |
| **Yankee corporate bonds and notes: 4.14%** |  |  |  |  |
| **Basic materials: 0.79%** |  |  |  |  |
| **Chemicals: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nutrien Ltd. | 4.90 | &nbsp;&nbsp; 3-27-2028 | 110000 | &nbsp;&nbsp; **111155** |
| **Mining: 0.72%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Anglo American Capital PLC144A | 2.63 | &nbsp;&nbsp; 9-10-2030 | 400000 | &nbsp;&nbsp; 355253 |
| &nbsp;&nbsp;&nbsp; BHP Billiton Finance USA Ltd. | 5.00 | &nbsp;&nbsp; 2-21-2030 | 150000 | &nbsp;&nbsp; 152322 |
| &nbsp;&nbsp;&nbsp; BHP Billiton Finance USA Ltd. | 5.10 | &nbsp;&nbsp; 9-8-2028 | 110000 | &nbsp;&nbsp; 112349 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA PLC | 4.88 | &nbsp;&nbsp; 3-14-2030 | 40000 | &nbsp;&nbsp; 40436 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA PLC | 5.00 | &nbsp;&nbsp; 3-14-2032 | 110000 | &nbsp;&nbsp; 110437 |
| &nbsp;&nbsp;&nbsp; South32 Treasury Ltd.144A | 4.35 | &nbsp;&nbsp; 4-14-2032 | 370000 | &nbsp;&nbsp; 340725 |
|  |  |  |  | &nbsp;&nbsp; **1111522** |
| **Communications: 0.17%** |  |  |  |  |
| **Telecommunications: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. | 3.80 | &nbsp;&nbsp; 3-15-2032 | 170000 | &nbsp;&nbsp; 155687 |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. | 5.00 | &nbsp;&nbsp; 2-15-2029 | 110000 | &nbsp;&nbsp; 110812 |
|  |  |  |  | &nbsp;&nbsp; **266499** |
| **Energy: 0.43%** |  |  |  |  |
| **Oil & gas: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd.144A | 5.00 | &nbsp;&nbsp; 12-15-2029 | 340000 | &nbsp;&nbsp; **338656** |
| **Pipelines: 0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. | 3.13 | &nbsp;&nbsp; 11-15-2029 | 120000 | &nbsp;&nbsp; 112021 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. | 5.70 | &nbsp;&nbsp; 3-8-2033 | 220000 | &nbsp;&nbsp; 224382 |
|  |  |  |  | &nbsp;&nbsp; **336403** |
| **Financial: 2.23%** |  |  |  |  |
| **Banks: 2.23%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bank of Montreal | 5.72 | &nbsp;&nbsp; 9-25-2028 | 250000 | &nbsp;&nbsp; 259133 |
| &nbsp;&nbsp;&nbsp; Bank of Montreal (U.S. SOFR+1.25%)± | 4.64 | &nbsp;&nbsp; 9-10-2030 | 50000 | &nbsp;&nbsp; 49961 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia | 4.85 | &nbsp;&nbsp; 2-1-2030 | 150000 | &nbsp;&nbsp; 151599 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia | 5.65 | &nbsp;&nbsp; 2-1-2034 | 110000 | &nbsp;&nbsp; 113807 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (U.S. SOFR+1.07%)± | 5.13 | &nbsp;&nbsp; 2-14-2031 | 60000 | &nbsp;&nbsp; 60684 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA (U.S. SOFR+1.22%)144A± | 2.16 | &nbsp;&nbsp; 9-15-2029 | 300000 | &nbsp;&nbsp; 275331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA (1 Year Treasury Constant <br> Maturity+1.00%)144A±<br>| 5.71 | &nbsp;&nbsp; 1-21-2033 | 350000 | &nbsp;&nbsp; 360406 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC (U.S. SOFR+1.29%)± | 5.13 | &nbsp;&nbsp; 3-3-2031 | 200000 | &nbsp;&nbsp; 200508 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC (U.S. SOFR+1.41%)± | 2.87 | &nbsp;&nbsp; 11-22-2032 | 300000 | &nbsp;&nbsp; 261256 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC (U.S. SOFR+1.97%)± | 6.16 | &nbsp;&nbsp; 3-9-2029 | 250000 | &nbsp;&nbsp; 258473 |

---

See accompanying notes to portfolio of investments

16 \| Allspring Broad Market Core Bond ETF

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. (1 Year Treasury Constant <br> Maturity+0.95%)±<br>| 2.31<br> %<br>| &nbsp;&nbsp; 7-20-2032 | $300000 | &nbsp;&nbsp; $257947 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada | 3.88 | &nbsp;&nbsp; 5-4-2032 | 40000 | &nbsp;&nbsp; 37737 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (U.S. SOFR+1.03%)± | 5.15 | &nbsp;&nbsp; 2-4-2031 | 50000 | &nbsp;&nbsp; 50712 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (U.S. SOFR+1.08%)± | 4.65 | &nbsp;&nbsp; 10-18-2030 | 110000 | &nbsp;&nbsp; 109533 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (U.S. SOFR+1.10%)± | 4.97 | &nbsp;&nbsp; 8-2-2030 | 250000 | &nbsp;&nbsp; 251902 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank | 2.45 | &nbsp;&nbsp; 1-12-2032 | 130000 | &nbsp;&nbsp; 112108 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank | 5.30 | &nbsp;&nbsp; 1-30-2032 | 110000 | &nbsp;&nbsp; 111549 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank | 5.52 | &nbsp;&nbsp; 7-17-2028 | 110000 | &nbsp;&nbsp; 113322 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant Maturity+1.00%)144A± | 2.10 | &nbsp;&nbsp; 2-11-2032 | 300000 | &nbsp;&nbsp; 256470 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant Maturity+1.10%)144A± | 2.75 | &nbsp;&nbsp; 2-11-2033 | 200000 | &nbsp;&nbsp; 171635 |
|  |  |  |  | &nbsp;&nbsp; **3464073** |
| **Industrial: 0.43%** |  |  |  |  |
| **Aerospace/defense: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BAE Systems PLC144A | 3.40 | &nbsp;&nbsp; 4-15-2030 | 200000 | &nbsp;&nbsp; **188984** |
| **Building materials: 0.19%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CRH SMW Finance DAC | 5.20 | &nbsp;&nbsp; 5-21-2029 | 200000 | &nbsp;&nbsp; 203770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Johnson Controls International PLC/Tyco Fire & Security Finance <br> SCA<br>| 5.50 | &nbsp;&nbsp; 4-19-2029 | 80000 | &nbsp;&nbsp; 82508 |
|  |  |  |  | &nbsp;&nbsp; **286278** |
| **Transportation: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. | 4.80 | &nbsp;&nbsp; 3-30-2030 | 190000 | &nbsp;&nbsp; **191343** |
| **Technology: 0.09%** |  |  |  |  |
| **Semiconductors: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; NXP BV/NXP Funding LLC/NXP USA, Inc. | 2.65 | &nbsp;&nbsp; 2-15-2032 | 70000 | &nbsp;&nbsp; 59642 |
| &nbsp;&nbsp;&nbsp; NXP BV/NXP Funding LLC/NXP USA, Inc. | 5.00 | &nbsp;&nbsp; 1-15-2033 | 80000 | &nbsp;&nbsp; 78027 |
|  |  |  |  | &nbsp;&nbsp; **137669** |
| **Total yankee corporate bonds and notes (Cost $6,333,892)** |  |  |  | &nbsp;&nbsp; **6432582** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares |  |
| **Short-term investments: 7.03%** |  |  |  |  |
| **Investment companies: 7.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select Class♠∞## |  | 4.23 | 10927572 | &nbsp;&nbsp; **10927572** |
| **Total short-term investments (Cost $10,927,572)** |  |  |  | &nbsp;&nbsp; **10927572** |
| **Total investments in securities (Cost $163,218,784)** | 105.75<br> %<br>|  |  | &nbsp;&nbsp; 164446509 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (5.75)<br>|  |  | &nbsp;&nbsp; (8947651)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$155498858** |

---

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

See accompanying notes to portfolio of investments

Allspring Broad Market Core Bond ETF \| 17

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | |
|:---|:---|
| %% | The security is purchased on a when-issued basis. |
| 144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| øø | The interest rate is determined and reset by the issuer periodically depending upon the terms of the security. The rate shown is the rate in effect at period end. |
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ♦ | The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| ## | All or a portion of this security is segregated as collateral for when-issued securities. |
| ♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| CDA | Community Development Authority |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General obligation |
| REIT | Real estate investment trust |
| SBA | Small Business Authority |
| SOFR | Secured Overnight Financing Rate |
| TIPS | Treasury Inflation-Protected Securities |

---

**Investments in affiliates**

An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class<br>| $0 | $70394975 | $(59467403)<br>| $0 | $0 | $10927572 | 10927572 | $161386 |

---

See accompanying notes to portfolio of investments

18 \| Allspring Broad Market Core Bond ETF

------

Notes to portfolio of investments—May 31, 2025 (unaudited)

Notes to portfolio of investments

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, LLC ("Allspring Funds Management"), which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

When-issued transactions

The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Fair valuation measurements

Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund's investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund's investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.

Allspring Broad Market Core Bond ETF \| 19

------

Notes to portfolio of investments—May 31, 2025 (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of May 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $53428709 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $53428709 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 18845670 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 18845670 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 42078694 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 42078694 |
| **Municipal obligations** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 7260618 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 7260618 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 7145963 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 7145963 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 18326701 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 18326701 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6432582 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6432582 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 10927572 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 10927572 |
| **Total assets** | &nbsp;&nbsp; **$29254273** | &nbsp;&nbsp;&nbsp; **$135192236** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$164446509** |

---

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

At May 31, 2025, the Fund did not have any transfers into/out of Level 3.

20 \| Allspring Broad Market Core Bond ETF

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST

- **b. Investment Company Act file number:** 811-23597

- **c. CIK number of Registrant:** 0001611331

- **d. LEI of Registrant:** 2549008U45GDNN6MG464

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

  - **Street Address 1:** 1415 VANTAGE PARK DRIVE

  - **City:** CHARLOTTE

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

  - **Telephone number:** 833-568-4225

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

- **a. Name of Series:** Allspring Broad Market Core Bond ETF

- **b. EDGAR series identifier (if any):** S000088476

- **c. LEI of Series:** 254900JNBMCCT3K5WJ93

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $165917560.48

**Total Liabilities:** $10418387.17

**Net Assets:** $155499173.31

**Delayed Delivery Securities:** $8610423.47

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -140.47000000 | **1-Year:** -3548.26000000 | **5-Year:** -16484.07000000 | **10-Year:** -10123.02000000 | **30-Year:** -2306.55000000

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

- **3-Month:** -8.43000000 | **1-Year:** -40.38000000 | **5-Year:** -410.45000000 | **10-Year:** -465.87000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254753 | -0.10%               | 0.45%                | -0.72%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $343017.46               | $-1200175.79                               |
| Month 2  | $19324.18                | $-59804.42                                 |
| Month 3  | $-197305.77              | $-1601278.84                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CVS HEALTH CORP                                                                  | CVS Health Corp                                                                 | CUSIP: 126650DT4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201139.82    | 0.13%             | 2030-02-21      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                                                         | American Water Capital Corp                                                     | CUSIP: 03040WAW5<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    120000 | PA      | $110074.13    | 0.07%             | 2030-05-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                                         | Mars Inc                                                                        | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149437.34    | 0.10%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                                          | KeyCorp                                                                         | CUSIP: 49326EEJ8<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9115.35      | 0.01%             | 2029-10-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                     | UBS Group AG                                                                    | CUSIP: 902613AE8<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $256470.39    | 0.16%             | 2032-02-11      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXC84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $498025.42    | 0.32%             | 2030-02-01      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY SOUTH                                                            | Dominion Energy South Carolina Inc                                              | CUSIP: 25731VAB0<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | DBT              | CORP              | US        |    130000 | PA      | $136278.62    | 0.09%             | 2053-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2022-AHP                                           | CUSIP: 05610FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $348468.75    | 0.22%             | 2039-01-17      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                                    | CUSIP: 59447TXW8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    410000 | PA      | $361065.48    | 0.23%             | 2034-12-01      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                              | American Express Co                                                             | CUSIP: 025816DN6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    120000 | PA      | $129749.89    | 0.08%             | 2031-10-30      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXRL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    430000 | PA      | $432533.35    | 0.28%             | 2030-02-01      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| PUGET SOUND ENERGY INC                                                           | Puget Sound Energy Inc                                                          | CUSIP: 745332CL8<br>LEI: 8MNFJR7KOMBQ7X62LK44 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138708.64    | 0.09%             | 2053-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111304.33    | 0.07%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                             | Royal Bank of Canada                                                            | CUSIP: 78016FZQ0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $37736.89     | 0.02%             | 2032-05-04      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                                          | Public Service Electric and Gas Co                                              | CUSIP: 74456QAZ9<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    180000 | PA      | $144476.21    | 0.09%             | 2042-05-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                                          | Canadian Natural Resources Ltd                                                  | CUSIP: 136385BB6<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    340000 | PA      | $338656.50    | 0.22%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXA45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $500013.42    | 0.32%             | 2029-12-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                                         | Florida Power & Light Co                                                        | CUSIP: 341081GU5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111746.33    | 0.07%             | 2034-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                        | CUSIP: 144141DD7<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    140000 | PA      | $112928.89    | 0.07%             | 2043-03-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U2A0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9797.98      | 0.01%             | 2028-05-22      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                             | CUSIP: 91282CMF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3100000 | PA      | $3128335.92   | 2.01%             | 2028-01-15      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140XGTV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    273173 | PA      | $254703.06    | 0.16%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    310000 | PA      | $312648.21    | 0.20%             | 2030-07-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP                                                            | Norfolk Southern Corp                                                           | CUSIP: 655844CP1<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    110000 | PA      | $90115.38     | 0.06%             | 2053-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    406995 | PA      | $373715.38    | 0.24%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                        | CUSIP: 00206RJK9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     40000 | PA      | $33759.05     | 0.02%             | 2044-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                         | Capital One Financial Corp                                                      | CUSIP: 14040HCT0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    170000 | PA      | $168181.30    | 0.11%             | 2033-05-10      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| MASCO CORP                                                                       | Masco Corp                                                                      | CUSIP: 574599BP0<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43057.81     | 0.03%             | 2030-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                          | CUSIP: 30225VAH0<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |    200000 | PA      | $194091.51    | 0.12%             | 2029-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DWA60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1553144 | PA      | $1276963.09   | 0.82%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                | CUSIP: 87264ADA0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111176.81    | 0.07%             | 2028-07-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                                         | Microchip Technology Inc                                                        | CUSIP: 595017BL7<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210581.47    | 0.14%             | 2030-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note Trust                                             | Toyota Auto Loan Extended Note Trust 2023-1                                     | CUSIP: 89231WAA1<br>LEI: 5493000KI9FC40RVHF71 | Long             | ABS-O            | CORP              | US        |    120000 | PA      | $121740.30    | 0.08%             | 2036-06-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                | CUSIP: 87264ACS2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    120000 | PA      | $110942.88    | 0.07%             | 2029-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                             | Royal Bank of Canada                                                            | CUSIP: 78017FZT3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $109533.27    | 0.07%             | 2030-10-18      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                                | Kinder Morgan Inc                                                               | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121127.53    | 0.08%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                                                  | BAE Systems PLC                                                                 | CUSIP: 05523RAD9<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $188983.49    | 0.12%             | 2030-04-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CY49<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    153095 | PA      | $147892.26    | 0.10%             | 2049-09-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DSH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    656074 | PA      | $513046.93    | 0.33%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                   | TEXAS ST                                                                        | CUSIP: 882722VN8<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |     35000 | PA      | $32997.35     | 0.02%             | 2040-04-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                         | AT&T Inc                                                                        | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    120000 | PA      | $112881.89    | 0.07%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DB92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    286045 | PA      | $255988.06    | 0.16%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                                           | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HBB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     80000 | PA      | $78026.82     | 0.05%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                              | American Express Co                                                             | CUSIP: 025816EF2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91021.15     | 0.06%             | 2031-04-25      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| KENTUCKY UTILITIES CO                                                            | Kentucky Utilities Co                                                           | CUSIP: 491674BN6<br>LEI: AGX0G2MXE54NFNNICD28 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71471.26     | 0.05%             | 2033-04-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CX40<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1083746 | PA      | $1081695.72   | 0.70%             | 2049-06-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    180000 | PA      | $180769.43    | 0.12%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                 | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     80000 | PA      | $77491.40     | 0.05%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co                                                         | Florida Power & Light Co                                                        | CUSIP: 341081EV5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30975.20     | 0.02%             | 2037-02-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140XBNR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    431360 | PA      | $386885.49    | 0.25%             | 2051-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SOUTH32 TREASURY LTD                                                             | South32 Treasury Ltd                                                            | CUSIP: 84055BAA1<br>LEI: 213800HFGZMXST64GP53 | Long             | DBT              | CORP              | AU        |    370000 | PA      | $340725.12    | 0.22%             | 2032-04-14      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                     | Comcast Corp                                                                    | CUSIP: 20030NDG3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    170000 | PA      | $161440.55    | 0.10%             | 2030-04-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| University of Nebraska Facilities Corp/The                                       | UNIV OF NEBRASKA NE FACS CORP                                                   | CUSIP: 914639KX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $202603.33    | 0.13%             | 2039-10-01      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                         | AT&T Inc                                                                        | CUSIP: 00206RCQ3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    180000 | PA      | $153515.76    | 0.10%             | 2046-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                                                 | Bank of Montreal                                                                | CUSIP: 06368L8L3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $49961.42     | 0.03%             | 2030-09-10      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2021-RISE                                                              | CUSIP: 12434EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    126799 | PA      | $126403.11    | 0.08%             | 2036-11-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2021-VOLT                                          | CUSIP: 05609VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $348250.00    | 0.22%             | 2036-09-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DVC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1161038 | PA      | $953628.84    | 0.61%             | 2050-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-BIO                                                               | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $149437.50    | 0.10%             | 2041-02-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                       | US Bancorp                                                                      | CUSIP: 91159HJS0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111360.74    | 0.07%             | 2030-07-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DUH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    261423 | PA      | $214685.21    | 0.14%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                           | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BJ3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    210000 | PA      | $219739.29    | 0.14%             | 2033-10-28      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| TRANSCONT GAS PIPE LINE                                                          | Transcontinental Gas Pipe Line Co LLC                                           | CUSIP: 893574AK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29664.93     | 0.02%             | 2028-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                                                 | Welltower OP LLC                                                                | CUSIP: 95040QAM6<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |     30000 | PA      | $26834.38     | 0.02%             | 2031-06-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418D2M3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1545404 | PA      | $1266725.15   | 0.81%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                            | Truist Financial Corp                                                           | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    110000 | PA      | $118419.34    | 0.08%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                         | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBB8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93120.27     | 0.06%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                                              | VIRGINIA ST CLG BLDG AUTH EDUCTNL FACS REVENUE 21ST CENTURY                     | CUSIP: 92778VKG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $127271.33    | 0.08%             | 2032-02-01      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                          | Hyundai Capital America                                                         | CUSIP: 44891ADM6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    220000 | PA      | $222535.62    | 0.14%             | 2030-01-08      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ONNI Commercial Mortgage Trust                                                   | ONNI Commerical Mortgage Trust 2024-APT                                         | CUSIP: 682939AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $354951.73    | 0.23%             | 2039-07-15      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                                       | Intel Corp                                                                      | CUSIP: 458140BR0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    120000 | PA      | $114884.92    | 0.07%             | 2030-03-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ENTERGY ARKANSAS LLC                                                             | Entergy Arkansas LLC                                                            | CUSIP: 29366MAD0<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |    180000 | PA      | $181280.87    | 0.12%             | 2033-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Ingredion Inc                                                                    | Ingredion Inc                                                                   | CUSIP: 457187AB8<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29436.78     | 0.02%             | 2026-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                                                 | Welltower OP LLC                                                                | CUSIP: 95040QAP9<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    150000 | PA      | $131867.83    | 0.08%             | 2032-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| UNIV SOUTHERN CALIFORNIA                                                         | University of Southern California                                               | CUSIP: 914886AB2<br>LEI: 0GMCSQ6M60R4T46U5511 | Long             | DBT              | CORP              | US        |    400000 | PA      | $317040.87    | 0.20%             | 2039-10-01      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| Life Financial Services Trust                                                    | Life 2022-BMR Mortgage Trust                                                    | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $232800.00    | 0.15%             | 2039-05-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CT45<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    904506 | PA      | $872347.31    | 0.56%             | 2048-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NUSZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    820226 | PA      | $818893.53    | 0.53%             | 2031-02-01      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PAV8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247363.41    | 0.16%             | 2029-07-23      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                     | CUSIP: 68389XCS2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118188.43    | 0.08%             | 2029-09-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                                                 | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBT5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    290000 | PA      | $287560.71    | 0.18%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                                      | Oracle Corp                                                                     | CUSIP: 68389XBH7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $86262.73     | 0.06%             | 2036-07-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                                          | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JCH5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    120000 | PA      | $97621.99     | 0.06%             | 2052-06-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                                         | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AR0<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    120000 | PA      | $108569.28    | 0.07%             | 2031-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 172967MY4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    180000 | PA      | $157224.05    | 0.10%             | 2032-05-01      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                                                          | Corebridge Global Funding                                                       | CUSIP: 00138CAV0<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |    160000 | PA      | $166279.13    | 0.11%             | 2028-09-19      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                       | US Bancorp                                                                      | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205930.91    | 0.13%             | 2027-10-26      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                                         | Florida Power & Light Co                                                        | CUSIP: 341081GM3<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111625.78    | 0.07%             | 2053-04-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                                 | Ventas Realty LP                                                                | CUSIP: 92277GAG2<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |    110000 | PA      | $109451.51    | 0.07%             | 2026-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF                                                         | Take-Two Interactive Software Inc                                               | CUSIP: 874054AM1<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51034.74     | 0.03%             | 2029-06-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                                         | Toyota Motor Credit Corp                                                        | CUSIP: 89236TLZ6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142383.82    | 0.09%             | 2031-03-21      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR                                                   | ALLSPRING GOVERNMENT MONEY MAR                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  10927572 | NS      | $10927571.64  | 7.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                                          | AEP Transmission Co LLC                                                         | CUSIP: 00115AAR0<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178583.72    | 0.11%             | 2034-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                                                  | Weyerhaeuser Co                                                                 | CUSIP: 962166BY9<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |    180000 | PA      | $174193.57    | 0.11%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                                                  | Sealed Air Corp                                                                 | CUSIP: 81211KAZ3<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    350000 | PA      | $333395.57    | 0.21%             | 2026-10-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                                      | UNIV OF NORTH CAROLINA NC AT CHAPEL HILL  REVENUE                               | CUSIP: 914713K68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $241550.24    | 0.16%             | 2034-12-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FLORIDA GAS TRANSMISSION                                                         | Florida Gas Transmission Co LLC                                                 | CUSIP: 340711BA7<br>LEI: 549300Q0UQF87NXNOC32 | Long             | DBT              | CORP              | US        |    440000 | PA      | $373253.79    | 0.24%             | 2031-10-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                                         | RTX Corp                                                                        | CUSIP: 75513EAD3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    130000 | PA      | $116093.30    | 0.07%             | 2030-07-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DVMY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3445465 | PA      | $3453508.43   | 2.22%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE                                                         | Pioneer Natural Resources Co                                                    | CUSIP: 723787AR8<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |    130000 | PA      | $113824.25    | 0.07%             | 2031-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH                                                        | CUSIP: 6789084A9<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    200000 | PA      | $192174.28    | 0.12%             | 2045-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| STANFORD UNIVERSITY                                                              | Leland Stanford Junior University/The                                           | CUSIP: 85440KAE4<br>LEI: JIUV0DC2REIJXQ26CR37 | Long             | DBT              | CORP              | US        |    420000 | PA      | $409939.86    | 0.26%             | 2035-03-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                                          | KeyCorp                                                                         | CUSIP: 49326EEK5<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    205000 | PA      | $196217.40    | 0.13%             | 2027-04-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CZ30<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    785000 | PA      | $770646.75    | 0.50%             | 2049-12-01      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                                  | HAWAII ST                                                                       | CUSIP: 419792Q25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198689.28    | 0.13%             | 2032-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                    | CUSIP: 11135FCB5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69192.89     | 0.04%             | 2030-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                           | GE HealthCare Technologies Inc                                                  | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160861.45    | 0.10%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                                         | International Business Machines Corp                                            | CUSIP: 459200HF1<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    130000 | PA      | $105514.13    | 0.07%             | 2042-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUTTER HEALTH                                                                    | Sutter Health                                                                   | CUSIP: 86944BAK9<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174697.51    | 0.11%             | 2033-08-15      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| UDR INC                                                                          | UDR Inc                                                                         | CUSIP: 90265EAQ3<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |     40000 | PA      | $37661.96     | 0.02%             | 2030-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN TRANSMISSION SY                                                         | American Transmission Systems Inc                                               | CUSIP: 030288AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $199409.83    | 0.13%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP                                                            | Norfolk Southern Corp                                                           | CUSIP: 655844CM8<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     67000 | PA      | $59847.94     | 0.04%             | 2032-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                                                         | New York Life Global Funding                                                    | CUSIP: 64952WDS9<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25376.78     | 0.02%             | 2030-08-07      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                            | Becton Dickinson & Co                                                           | CUSIP: 075887CR8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110684.91    | 0.07%             | 2029-02-08      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                                         | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AK5<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |     30000 | PA      | $29563.23     | 0.02%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                                                 | Great Wolf Trust 2024-WOLF                                                      | CUSIP: 39152MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    307000 | PA      | $306808.13    | 0.20%             | 2039-03-15      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                                                               | BMW US Capital LLC                                                              | CUSIP: 05565ECY9<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45355.50     | 0.03%             | 2030-03-21      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAY0<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9258.89      | 0.01%             | 2029-08-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                                   | CUSIP: 13063D7E2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159677.73    | 0.10%             | 2031-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MID-ATLANTIC INTERSTATE                                                          | Mid-Atlantic Interstate Transmission LLC                                        | CUSIP: 59524QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $59213.74     | 0.04%             | 2028-05-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $249049.76    | 0.16%             | 2033-04-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                                                               | Coterra Energy Inc                                                              | CUSIP: 127097AK9<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |    190000 | PA      | $187029.05    | 0.12%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MARTIN MARIETTA MATERIAL                                                         | Martin Marietta Materials Inc                                                   | CUSIP: 573284AV8<br>LEI: 5299005MZ4WZECVATV08 | Long             | DBT              | CORP              | US        |    180000 | PA      | $163666.18    | 0.11%             | 2030-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CU35<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1265564 | PA      | $1268875.52   | 0.82%             | 2048-08-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                                                     | NNN REIT Inc                                                                    | CUSIP: 637417AL0<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |    110000 | PA      | $108761.88    | 0.07%             | 2028-10-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                                         | RTX Corp                                                                        | CUSIP: 75513ECN9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42707.92     | 0.03%             | 2032-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116712.49    | 0.08%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-DIME                                                              | CUSIP: 05613UAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    665000 | PA      | $662506.25    | 0.43%             | 2035-02-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                                                         | Plains All American Pipeline LP / PAA Finance Corp                              | CUSIP: 72650RBP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $158786.21    | 0.10%             | 2034-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                                                       | Fiserv Inc                                                                      | CUSIP: 337738AR9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108820.72    | 0.07%             | 2028-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418EJ68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    263314 | PA      | $248881.20    | 0.16%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                                          | KeyCorp                                                                         | CUSIP: 49326EEN9<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57282.40     | 0.04%             | 2033-06-01      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS PWR & LIGHT                                                         | Indianapolis Power & Light Co                                                   | CUSIP: 455434BW9<br>LEI: 2T85JNP2R2B2GTSFND21 | Long             | DBT              | CORP              | US        |    190000 | PA      | $180864.45    | 0.12%             | 2054-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MCCORMICK & CO                                                                   | McCormick & Co Inc/MD                                                           | CUSIP: 579780AQ0<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |    260000 | PA      | $234775.59    | 0.15%             | 2030-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                             | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7160000 | PA      | $7232718.75   | 4.65%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  1 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418C4F8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    212152 | PA      | $197719.29    | 0.13%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                                                         | BHP Billiton Finance USA Ltd                                                    | CUSIP: 055451BJ6<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    150000 | PA      | $152322.11    | 0.10%             | 2030-02-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXTA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    380000 | PA      | $382864.29    | 0.25%             | 2030-03-01      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV6K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    503950 | PA      | $429621.39    | 0.28%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    288598 | PA      | $272768.26    | 0.18%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                                 | Ventas Realty LP                                                                | CUSIP: 92277GAN7<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |     80000 | PA      | $79187.28     | 0.05%             | 2029-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Cupertino Union School District                                                  | CUPERTINO CA UNION SCH DIST                                                     | CUSIP: 231237P44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $80352.61     | 0.05%             | 2028-08-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                                         | Citizens Financial Group Inc                                                    | CUSIP: 174610BJ3<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    360000 | PA      | $360375.16    | 0.23%             | 2031-03-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DJQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    285070 | PA      | $234475.51    | 0.15%             | 2049-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                                 | Ventas Realty LP                                                                | CUSIP: 92277GAM9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |    110000 | PA      | $108248.17    | 0.07%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                            | Truist Financial Corp                                                           | CUSIP: 89788MAR3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51123.98     | 0.03%             | 2030-01-24      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                                                | L3Harris Technologies Inc                                                       | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50670.38     | 0.03%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U2S1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191419.04    | 0.12%             | 2028-06-02      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXNZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    947630 | PA      | $975097.20    | 0.63%             | 2031-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                                         | CenterPoint Energy Houston Electric LLC                                         | CUSIP: 15189XAZ1<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |    320000 | PA      | $309755.93    | 0.20%             | 2032-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NW2V6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    997697 | PA      | $1024147.30   | 0.66%             | 2031-03-01      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| REGENCY CENTERS LP                                                               | Regency Centers LP                                                              | CUSIP: 75884RBD4<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |    100000 | PA      | $99818.56     | 0.06%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXN74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    748237 | PA      | $769897.75    | 0.50%             | 2032-02-01      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                     | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    200000 | PA      | $180307.24    | 0.12%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BAYLOR SCOTT & WHITE HOL                                                         | Baylor Scott & White Holdings                                                   | CUSIP: 072863AH6<br>LEI: 549300JQDKSBWYRGGV95 | Long             | DBT              | CORP              | US        |    100000 | PA      | $85720.14     | 0.06%             | 2030-11-15      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDI                                                                 | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $172092.88    | 0.11%             | 2031-06-17      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                             | M&T Bank Corp                                                                   | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    170000 | PA      | $164724.66    | 0.11%             | 2034-01-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                                              | Charles Schwab Corp/The                                                         | CUSIP: 808513CA1<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    140000 | PA      | $123657.13    | 0.08%             | 2032-03-03      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                                      | Extended Stay America Trust 2021-ESH                                            | CUSIP: 30227FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300205 | PA      | $300204.72    | 0.19%             | 2038-07-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                   | TEXAS ST                                                                        | CUSIP: 882724QK6<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |    225000 | PA      | $205563.42    | 0.13%             | 2031-04-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| John Deere Owner Trust                                                           | John Deere Owner Trust 2025                                                     | CUSIP: 47800DAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    245000 | PA      | $244427.09    | 0.16%             | 2032-02-17      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                                      | Equifax Inc                                                                     | CUSIP: 294429AW5<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50599.63     | 0.03%             | 2028-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| DUKE UNIVERSITY HEALTH                                                           | Duke University Health System Inc                                               | CUSIP: 26443CAA1<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | CORP              | US        |    210000 | PA      | $159949.69    | 0.10%             | 2047-06-01      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                    | OHIO ST HOSP FAC REVENUE                                                        | CUSIP: 677561JR4<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $94692.67     | 0.06%             | 2030-01-01      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                              | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAQ0<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     60000 | PA      | $60684.00     | 0.04%             | 2031-02-14      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                     | Enbridge Inc                                                                    | CUSIP: 29250NAZ8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $112021.23    | 0.07%             | 2029-11-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DUG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1255151 | PA      | $984256.86    | 0.63%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418CZ98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    190157 | PA      | $177299.47    | 0.11%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOLCIM FINANCE US LLC                                                            | Holcim Finance US LLC                                                           | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120770.37    | 0.08%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                                            | RIO TINTO FIN USA PLC                                                           | CUSIP: 76720AAT3<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    110000 | PA      | $110437.47    | 0.07%             | 2032-03-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                                | State Street Corp                                                               | CUSIP: 857477BU6<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    220000 | PA      | $213823.51    | 0.14%             | 2033-05-13      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418D2N1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    236941 | PA      | $203040.25    | 0.13%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                                                           | Alliant Energy Finance LLC                                                      | CUSIP: 01882YAD8<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107496.68    | 0.07%             | 2032-03-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                        | Boeing Co/The                                                                   | CUSIP: 097023CM5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116205.21    | 0.07%             | 2027-02-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                     | Comcast Corp                                                                    | CUSIP: 20030NDM0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43275.48     | 0.03%             | 2031-01-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                                        | BMP 2024-MF23                                                                   | CUSIP: 05593JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $300187.50    | 0.19%             | 2041-06-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH                         | CUSIP: 54627RAN0<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    525000 | PA      | $500891.90    | 0.32%             | 2036-02-01      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| INGREDION INC                                                                    | Ingredion Inc                                                                   | CUSIP: 457187AC6<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | DBT              | CORP              | US        |    170000 | PA      | $156318.00    | 0.10%             | 2030-06-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                      | CUSIP: 92343VCQ5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140476.93    | 0.09%             | 2034-11-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140XL2S6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2017703 | PA      | $1806429.98   | 1.16%             | 2050-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Texas Natural Gas Securitization Finance Corp                                    | TEXAS NATURAL GAS SECURITIZTN FIN CORP REVENUE                                  | CUSIP: 88258MAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     88267 | PA      | $89783.72     | 0.06%             | 2035-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                                      | Prologis LP                                                                     | CUSIP: 74340XBZ3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |     10000 | PA      | $8686.12      | 0.01%             | 2030-07-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                           | Williams Cos Inc/The                                                            | CUSIP: 96949LAD7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19714.15     | 0.01%             | 2027-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                                          | Laboratory Corp of America Holdings                                             | CUSIP: 50540RAZ5<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    170000 | PA      | $166954.85    | 0.11%             | 2030-04-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DQ70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1843847 | PA      | $1444972.27   | 0.93%             | 2050-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                                         | RTX Corp                                                                        | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118762.05    | 0.08%             | 2028-11-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                                               | Realty Income Corp                                                              | CUSIP: 756109BR4<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    110000 | PA      | $110921.91    | 0.07%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                        | Boeing Co/The                                                                   | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115799.53    | 0.07%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH                                                        | CUSIP: 6789084D3<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    145000 | PA      | $131095.36    | 0.08%             | 2045-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                  | CVS Health Corp                                                                 | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    230000 | PA      | $226625.80    | 0.15%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CNH Industrial NV                                                                | CNH Industrial NV                                                               | CUSIP: 12594KAB8<br>LEI: 549300WGC2HZ5J67V817 | Long             | DBT              | CORP              | NL        |    180000 | PA      | $177999.42    | 0.11%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Waco Educational Finance Corp                                                    | WACO TX EDUCTNL FIN CORP REVENUE                                                | CUSIP: 929833DQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252851.78    | 0.16%             | 2030-03-01      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418CXM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1855947 | PA      | $1670565.30   | 1.07%             | 2048-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                           | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49404.34     | 0.03%             | 2034-01-24      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61748UAE2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126846.69    | 0.08%             | 2031-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                                                                 | Ventas Realty LP                                                                | CUSIP: 92277GAW7<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |     30000 | PA      | $26079.24     | 0.02%             | 2031-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP                                                             | Federal Realty OP LP                                                            | CUSIP: 313747BC0<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              |  | US        |    140000 | PA      | $142677.82    | 0.09%             | 2028-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| State of New York                                                                | NEW YORK ST                                                                     | CUSIP: 649791PS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $38828.23     | 0.02%             | 2027-02-15      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DET5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    482849 | PA      | $433250.35    | 0.28%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140XBJE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    288562 | PA      | $268593.14    | 0.17%             | 2051-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY OP LLC                                                              | Kimco Realty OP LLC                                                             | CUSIP: 49446RAY5<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |    115000 | PA      | $97902.12     | 0.06%             | 2031-12-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                                         | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748BP6<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    180000 | PA      | $155219.06    | 0.10%             | 2031-12-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                            | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    200000 | PA      | $173134.90    | 0.11%             | 2031-07-23      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| REXFORD INDUSTRIAL REALT                                                         | Rexford Industrial Realty LP                                                    | CUSIP: 76169XAC8<br>LEI: 549300028US163ELJN70 | Long             | DBT              |  | US        |    280000 | PA      | $280163.48    | 0.18%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                             | Royal Bank of Canada                                                            | CUSIP: 78016HZZ6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $251902.30    | 0.16%             | 2030-08-02      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                           | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAH6<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    110000 | PA      | $115155.90    | 0.07%             | 2030-03-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418EAP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1173002 | PA      | $998377.83    | 0.64%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                                | HSBC Holdings PLC                                                               | CUSIP: 404280CY3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $261255.43    | 0.17%             | 2032-11-22      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F050668<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1830000 | PA      | $1771176.79   | 1.14%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                                                      | Truist Bank                                                                     | CUSIP: 89788KAA4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    250000 | PA      | $221014.35    | 0.14%             | 2030-03-11      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                                                  | DTE Electric Co                                                                 | CUSIP: 23338VAM8<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    130000 | PA      | $116842.81    | 0.08%             | 2031-03-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| PACKAGING CORP OF AMERIC                                                         | Packaging Corp of America                                                       | CUSIP: 695156AU3<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | DBT              | CORP              | US        |    170000 | PA      | $158701.00    | 0.10%             | 2029-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                                           | Roper Technologies Inc                                                          | CUSIP: 776696AG1<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99500.96     | 0.06%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PPG INDUSTRIES INC                                                               | PPG Industries Inc                                                              | CUSIP: 693506BR7<br>LEI: 549300BKPEP01R3V6C59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46597.21     | 0.03%             | 2029-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES PWR-MINN                                                         | Northern States Power Co/MN                                                     | CUSIP: 665772CJ6<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |    110000 | PA      | $82140.75     | 0.05%             | 2042-08-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                                          | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JCZ5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135234.31    | 0.09%             | 2035-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | OHIO ST HGR EDUCTNL FAC COMMISSION                                              | CUSIP: 67756A2T8<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99953.10     | 0.06%             | 2032-01-01      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                                          | KeyCorp                                                                         | CUSIP: 49326EEQ2<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99787.10     | 0.06%             | 2031-04-04      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission                                                  | TEXAS ST TRANSPRTN COMMISSION                                                   | CUSIP: 882830BH4<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |     75000 | PA      | $50222.06     | 0.03%             | 2044-10-01      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CU68<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1539985 | PA      | $1567250.51   | 1.01%             | 2048-09-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140QVWV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1939798 | PA      | $1942941.45   | 1.25%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CZ71<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    200000 | PA      | $201251.42    | 0.13%             | 2045-02-01      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| BEACON GATEWAY                                                                   | BEACON GATEWAY                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $816500.00    | 0.53%             | 2025-06-30      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                              | Fifth Third Bancorp                                                             | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     80000 | PA      | $75010.82     | 0.05%             | 2033-04-25      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                            | Becton Dickinson & Co                                                           | CUSIP: 075887CL1<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    230000 | PA      | $197254.78    | 0.13%             | 2031-02-11      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| REVVITY INC                                                                      | Revvity Inc                                                                     | CUSIP: 714046AM1<br>LEI: 549300IKL1SDPFI7N655 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45838.90     | 0.03%             | 2028-09-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                            | Aon North America Inc                                                           | CUSIP: 03740MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $112190.22    | 0.07%             | 2029-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                                         | Rogers Communications Inc                                                       | CUSIP: 775109CH2<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    170000 | PA      | $155687.22    | 0.10%             | 2032-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 172967MM0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    120000 | PA      | $114431.85    | 0.07%             | 2041-03-26      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CW25<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    364375 | PA      | $367245.75    | 0.24%             | 2049-02-01      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205177.66    | 0.13%             | 2029-07-25      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                             | Bank of America Corp                                                            | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87327.35     | 0.06%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YFZ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121752.44    | 0.08%             | 2031-04-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                             | Bank of America Corp                                                            | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247189.81    | 0.16%             | 2029-07-23      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                                                      | SREIT Trust 2021-MFP2                                                           | CUSIP: 85236WCE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $349125.00    | 0.22%             | 2036-11-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT LIGHT & PWR                                                          | Connecticut Light and Power Co/The                                              | CUSIP: 207597EN1<br>LEI: 549300O45IUXEDS1VZ32 | Long             | DBT              | CORP              | US        |    130000 | PA      | $112057.36    | 0.07%             | 2031-07-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RES                                                           | CenterPoint Energy Resources Corp                                               | CUSIP: 15189YAF3<br>LEI: 2JADVB0458J06WCD4N56 | Long             | DBT              | CORP              | US        |     70000 | PA      | $60153.77     | 0.04%             | 2030-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth Edison Co                                                           | Commonwealth Edison Co                                                          | CUSIP: 202795HK9<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    120000 | PA      | $125601.77    | 0.08%             | 2036-03-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust LP                                                          | Digital Realty Trust LP                                                         | CUSIP: 25389JAT3<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    250000 | PA      | $249147.92    | 0.16%             | 2028-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                      | CUSIP: 92343VGN8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    330000 | PA      | $281445.04    | 0.18%             | 2032-03-15      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                                  | OREGON ST                                                                       | CUSIP: 68608KNF1<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    200000 | PA      | $206169.28    | 0.13%             | 2038-08-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    130000 | PA      | $115144.09    | 0.07%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| City & County of Honolulu HI                                                     | HONOLULU CITY & CNTY HI                                                         | CUSIP: 438687EJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24312.37     | 0.02%             | 2030-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DRT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    701780 | PA      | $602880.38    | 0.39%             | 2050-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                                                         | Agilent Technologies Inc                                                        | CUSIP: 00846UAL5<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46410.28     | 0.03%             | 2029-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                                                         | Health Care Service Corp A Mutual Legal Reserve Co                              | CUSIP: 42218SAF5<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    130000 | PA      | $115043.94    | 0.07%             | 2030-06-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP                                                           | Regions Financial Corp                                                          | CUSIP: 7591EPAT7<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    120000 | PA      | $109706.41    | 0.07%             | 2028-08-12      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                           | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    110000 | PA      | $115483.90    | 0.07%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| INTOWN Mortgage Trust                                                            | INTOWN 2025-STAY Mortgage Trust                                                 | CUSIP: 46117WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $298312.50    | 0.19%             | 2042-03-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY SOUTH                                                            | Dominion Energy South Carolina Inc                                              | CUSIP: 25731VAC8<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110350.95    | 0.07%             | 2035-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                                                | General Motors Co                                                               | CUSIP: 37045VAV2<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110329.13    | 0.07%             | 2025-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                           | BP Capital Markets America Inc                                                  | CUSIP: 10373QBV1<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167122.98    | 0.11%             | 2033-09-11      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                           | American Honda Finance Corp                                                     | CUSIP: 02665WFQ9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108844.93    | 0.07%             | 2029-09-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ATMOS ENERGY CORP                                                                | Atmos Energy Corp                                                               | CUSIP: 049560AZ8<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    110000 | PA      | $116193.09    | 0.07%             | 2033-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CBH6<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     70000 | PA      | $48579.61     | 0.03%             | 2052-03-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                                   | SWCH Commercial Mortgage Trust 2025-DATA                                        | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    265000 | PA      | $262681.25    | 0.17%             | 2042-02-15      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| SMRT                                                                             | SMRT 2022-MINI                                                                  | CUSIP: 78457JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170000 | PA      | $169150.00    | 0.11%             | 2039-01-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                      | CUSIP: 92343VDR2<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46094.05     | 0.03%             | 2039-03-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                                                             | Mercedes-Benz Finance North America LLC                                         | CUSIP: 58769JBG1<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150779.78    | 0.10%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LENNOX INTERNATIONAL INC                                                         | Lennox International Inc                                                        | CUSIP: 526107AG2<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71897.92     | 0.05%             | 2028-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                        | CUSIP: 26442UAN4<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54869.46     | 0.04%             | 2032-04-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                            | CUSIP: 06051GKK4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44069.86     | 0.03%             | 2033-02-04      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CQ22<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     61416 | PA      | $57901.55     | 0.04%             | 2047-07-01      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                                       | Fiserv Inc                                                                      | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    170000 | PA      | $162065.96    | 0.10%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140X7KS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    386965 | PA      | $360893.26    | 0.23%             | 2049-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167120.04    | 0.11%             | 2033-05-24      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY SOUTH                                                            | Dominion Energy South Carolina Inc                                              | CUSIP: 25731VAA2<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | DBT              | CORP              | US        |    200000 | PA      | $172747.87    | 0.11%             | 2031-12-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                                          | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JBU7<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    190000 | PA      | $174389.07    | 0.11%             | 2030-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT                                                          | Wisconsin Power and Light Co                                                    | CUSIP: 976826BQ9<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111765.18    | 0.07%             | 2032-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Boca Commercial Mortgage Trust                                                   | BOCA Commercial Mortgage Trust 2024-BOCA                                        | CUSIP: 096817AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $150234.38    | 0.10%             | 2041-08-15      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                                                       | Barings Equipment Finance LLC 2025-A                                            | CUSIP: 06764MAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1005441.90   | 0.65%             | 2050-06-13      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111535.11    | 0.07%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                            | Toronto-Dominion Bank/The                                                       | CUSIP: 89114TZQ8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    130000 | PA      | $112107.53    | 0.07%             | 2032-01-12      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                             | Royal Bank of Canada                                                            | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50711.96     | 0.03%             | 2031-02-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140XC3V8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1762450 | PA      | $1580736.88   | 1.02%             | 2051-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                                           | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822BX1<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $257946.73    | 0.17%             | 2032-07-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DPE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    204912 | PA      | $176034.75    | 0.11%             | 2050-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DQ96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    102419 | PA      | $87985.41     | 0.06%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MARATHON PETROLEUM CORP                                                          | Marathon Petroleum Corp                                                         | CUSIP: 56585ABK7<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    210000 | PA      | $212039.16    | 0.14%             | 2030-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-ROIC                                                              | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $267975.00    | 0.17%             | 2030-03-15      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    130000 | PA      | $111865.90    | 0.07%             | 2032-11-03      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| GM Financial Revolving Receivables Trust                                         | GM Financial Revolving Receivables Trust 2025-1                                 | CUSIP: 36271NAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    325000 | PA      | $325538.30    | 0.21%             | 2037-12-11      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                                                           | ConocoPhillips Co                                                               | CUSIP: 20826FBJ4<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200914.21    | 0.13%             | 2030-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GM Financial Revolving Receivables Trust                                         | GM Financial Revolving Receivables Trust 2024-1                                 | CUSIP: 36269KAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    810000 | PA      | $824437.60    | 0.53%             | 2036-12-11      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                        | Boeing Co/The                                                                   | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117875.07    | 0.08%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                                                                | Union Electric Co                                                               | CUSIP: 906548CY6<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189928.62    | 0.12%             | 2034-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                                      | Oracle Corp                                                                     | CUSIP: 68389XBP9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    160000 | PA      | $133450.01    | 0.09%             | 2037-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                                          | Digital Realty Trust LP                                                         | CUSIP: 25389JAV8<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    110000 | PA      | $112622.86    | 0.07%             | 2028-01-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                                                                | General Mills Inc                                                               | CUSIP: 370334DA9<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110959.94    | 0.07%             | 2030-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV3J2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    496955 | PA      | $446011.11    | 0.29%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXTT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    410000 | PA      | $417662.76    | 0.27%             | 2030-05-01      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DRS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    290309 | PA      | $239163.47    | 0.15%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                            | CUSIP: 06051GKJ7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    260000 | PA      | $251298.10    | 0.16%             | 2028-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DNG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    290813 | PA      | $239846.87    | 0.15%             | 2050-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CS61<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1184491 | PA      | $1183875.42   | 0.76%             | 2048-03-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL                                                           | American International Group Inc                                                | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40153.62     | 0.03%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                                   | CUSIP: 13063A5G5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $159730.16    | 0.10%             | 2039-04-01      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                              | Bank of Nova Scotia/The                                                         | CUSIP: 06417XAP6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $151599.29    | 0.10%             | 2030-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                          | CUSIP: 30225VAK3<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |    130000 | PA      | $133213.47    | 0.09%             | 2030-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                  | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109086.73    | 0.07%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| TUCSON ELECTRIC POWER CO                                                         | Tucson Electric Power Co                                                        | CUSIP: 898813AU4<br>LEI: YLF139GXSRKPBBTNZL03 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62502.29     | 0.04%             | 2032-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SPIRE MISSOURI INC                                                               | Spire Missouri Inc                                                              | CUSIP: 84859DAD9<br>LEI: 06LJQCOVPRXOPDHFC707 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109856.68    | 0.07%             | 2034-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                                        | ONEOK Inc                                                                       | CUSIP: 682680BS1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    145000 | PA      | $134009.17    | 0.09%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111407.84    | 0.07%             | 2034-07-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                                      | CUSIP: 64972JUN6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    325000 | PA      | $329217.43    | 0.21%             | 2033-05-01      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                                       | Fiserv Inc                                                                      | CUSIP: 337738BM9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19943.86     | 0.01%             | 2030-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UDR INC                                                                          | UDR Inc                                                                         | CUSIP: 90265EAR1<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |    100000 | PA      | $89716.40     | 0.06%             | 2031-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                                        | LOS ANGELES CA CMNTY CLG DIST                                                   | CUSIP: 54438CYL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96400.19     | 0.06%             | 2026-08-01      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                                           | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAS3<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162023.46    | 0.10%             | 2029-04-20      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DYZ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    686577 | PA      | $589181.74    | 0.38%             | 2051-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     90000 | PA      | $80723.13     | 0.05%             | 2033-03-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DQA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    247529 | PA      | $212646.97    | 0.14%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV4V4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1035024 | PA      | $890315.97    | 0.57%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV6Q3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1275806 | PA      | $998854.13    | 0.64%             | 2050-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                                                       | ROCK Trust 2024-CNTR                                                            | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $151892.94    | 0.10%             | 2041-11-13      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YEU5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49252.06     | 0.03%             | 2033-07-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                              | Fifth Third Bancorp                                                             | CUSIP: 316773DL1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112950.42    | 0.07%             | 2032-01-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                           | Motorola Solutions Inc                                                          | CUSIP: 620076BY4<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101092.61    | 0.07%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                          | MPLX LP                                                                         | CUSIP: 55336VBU3<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    340000 | PA      | $330754.84    | 0.21%             | 2032-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                                                   | Phillips 66 Co                                                                  | CUSIP: 718547AU6<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    270000 | PA      | $273341.56    | 0.18%             | 2031-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DSK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1984689 | PA      | $1704987.20   | 1.10%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                           | Williams Cos Inc/The                                                            | CUSIP: 969457BM1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     90000 | PA      | $107269.51    | 0.07%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CEDARS-SINAI HEALTH SYS                                                          | Cedars-Sinai Health System                                                      | CUSIP: 15073LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $73121.05     | 0.05%             | 2031-08-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| HP INC                                                                           | HP Inc                                                                          | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    270000 | PA      | $261605.00    | 0.17%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                                             | WEC Energy Group Inc                                                            | CUSIP: 92939UAJ5<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    240000 | PA      | $243242.10    | 0.16%             | 2027-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT LIGHT & PWR                                                          | Connecticut Light and Power Co/The                                              | CUSIP: 207597ER2<br>LEI: 549300O45IUXEDS1VZ32 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110842.44    | 0.07%             | 2029-01-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Black Hills Corp                                                                 | Black Hills Corp                                                                | CUSIP: 092113AQ2<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    240000 | PA      | $222978.42    | 0.14%             | 2033-05-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ENTERGY ARKANSAS LLC                                                             | Entergy Arkansas LLC                                                            | CUSIP: 29366MAF5<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111451.57    | 0.07%             | 2034-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NUPF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1963000 | PA      | $2010613.02   | 1.29%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PCR5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25997.24     | 0.02%             | 2032-11-08      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                    | OHIO ST HOSP FAC REVENUE                                                        | CUSIP: 677561LN0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $80512.83     | 0.05%             | 2042-01-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                        | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    150000 | PA      | $127264.52    | 0.08%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                              | CUSIP: 29273VAT7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    260000 | PA      | $276413.38    | 0.18%             | 2030-12-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                                            | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BA1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    170000 | PA      | $165294.25    | 0.11%             | 2033-05-17      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                           | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BX2<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113116.39    | 0.07%             | 2030-05-14      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                           | American Honda Finance Corp                                                     | CUSIP: 02665WFE6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161258.97    | 0.10%             | 2029-03-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                                                                       | Nucor Corp                                                                      | CUSIP: 670346AZ8<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189473.14    | 0.12%             | 2030-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| General Mills Inc                                                                | General Mills Inc                                                               | CUSIP: 370334CG7<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109477.82    | 0.07%             | 2028-04-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                                          | UDR Inc                                                                         | CUSIP: 90265EAP5<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |    250000 | PA      | $247955.44    | 0.16%             | 2029-01-26      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                                      | Oracle Corp                                                                     | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46302.84     | 0.03%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95368.04     | 0.06%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NULG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2852127 | PA      | $2936617.92   | 1.89%             | 2031-01-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DZX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    156214 | PA      | $133746.29    | 0.09%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                         | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    130000 | PA      | $110314.01    | 0.07%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81828.10     | 0.05%             | 2029-07-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                                         | FirstEnergy Transmission LLC                                                    | CUSIP: 33767BAD1<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113494.20    | 0.07%             | 2028-09-15      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                                                         | Agilent Technologies Inc                                                        | CUSIP: 00846UAM3<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |    130000 | PA      | $115286.22    | 0.07%             | 2030-06-04      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                                         | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AW9<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    140000 | PA      | $112970.17    | 0.07%             | 2032-05-18      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                                         | Sabine Pass Liquefaction LLC                                                    | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167491.96    | 0.11%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                           | Williams Cos Inc/The                                                            | CUSIP: 88339WAB2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10084.50     | 0.01%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GXR0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    170000 | PA      | $144687.21    | 0.09%             | 2032-01-27      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103230.04    | 0.07%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NUJU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $300291.67    | 0.19%             | 2031-01-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                          | MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE                                | CUSIP: 576000KV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $280409.53    | 0.18%             | 2039-08-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                                         | Baxter International Inc                                                        | CUSIP: 071813CP2<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    120000 | PA      | $110815.50    | 0.07%             | 2028-12-01      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| CUBESMART LP                                                                     | CubeSmart LP                                                                    | CUSIP: 22966RAH9<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              |  | US        |    230000 | PA      | $212378.61    | 0.14%             | 2028-12-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV4X0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    253262 | PA      | $227115.01    | 0.15%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                            | CUSIP: 64990FMT8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    470000 | PA      | $474281.32    | 0.31%             | 2039-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                              | Bank of Nova Scotia/The                                                         | CUSIP: 06418JAC5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $113806.50    | 0.07%             | 2034-02-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| PUB SVC NEW HAMP                                                                 | Public Service Co of New Hampshire                                              | CUSIP: 744538AF6<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111863.50    | 0.07%             | 2033-10-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAE4<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135797.76    | 0.09%             | 2038-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| NLG GLOBAL FUNDING                                                               | NLG Global Funding                                                              | CUSIP: 62915W2A0<br>LEI: 635400SKBQOWEJZLTW68 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127117.18    | 0.08%             | 2030-01-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                                                       | FedEx Corp                                                                      | CUSIP: 31428XCM6<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43578.91     | 0.03%             | 2035-02-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                              | CUSIP: 29273VBD1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30287.45     | 0.02%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                                           | Roper Technologies Inc                                                          | CUSIP: 776743AG1<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    170000 | PA      | $159030.20    | 0.10%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Inflation-Indexed Notes                                           | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    891748 | PA      | $897980.94    | 0.58%             | 2035-01-15      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| COTERRA ENERGY INC                                                               | Coterra Energy Inc                                                              | CUSIP: 127097AG8<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108340.46    | 0.07%             | 2027-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                                              | Sherwin-Williams Co/The                                                         | CUSIP: 824348BJ4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    210000 | PA      | $196371.65    | 0.13%             | 2029-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DWBQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    477035 | PA      | $392097.72    | 0.25%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                       | US Bancorp                                                                      | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51138.92     | 0.03%             | 2030-01-23      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXCJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $500202.02    | 0.32%             | 2030-01-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CV83<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     94900 | PA      | $95053.71     | 0.06%             | 2049-01-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                                | State Street Corp                                                               | CUSIP: 857477BT9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43478.35     | 0.03%             | 2033-02-07      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                                           | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     70000 | PA      | $59642.64     | 0.04%             | 2032-02-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418CZH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    222217 | PA      | $207283.62    | 0.13%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                 | CUSIP: 37045XDL7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42908.27     | 0.03%             | 2031-06-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON CO                                                           | Commonwealth Edison Co                                                          | CUSIP: 202795JV3<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    210000 | PA      | $151676.98    | 0.10%             | 2052-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                                                      | Nutrien Ltd                                                                     | CUSIP: 67077MBA5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $111154.80    | 0.07%             | 2028-03-27      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN CORP                                                                | NorthWestern Corp                                                               | CUSIP: 66807TAA0<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191999.43    | 0.12%             | 2030-03-21      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                            | Becton Dickinson & Co                                                           | CUSIP: 075887CP2<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47623.03     | 0.03%             | 2032-08-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST SPL OBLG REVENUE                                               | CUSIP: 576004HG3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     51233 | PA      | $50612.36     | 0.03%             | 2031-07-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YED3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    180000 | PA      | $153290.88    | 0.10%             | 2032-07-21      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                      | BNP Paribas SA                                                                  | CUSIP: 09659W2R4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $275330.68    | 0.18%             | 2029-09-15      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| JOHNSON CONTROLS/TYCO FI                                                         | Johnson Controls International plc / Tyco Fire & Security Finance SCA           | CUSIP: 477921AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     80000 | PA      | $82508.68     | 0.05%             | 2029-04-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                             | CUSIP: 91282CND9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    780000 | PA      | $777684.38    | 0.50%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  1 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418C5Z3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    145395 | PA      | $135473.67    | 0.09%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | Small Business Administration Participation Certificates                        | CUSIP: 83162CX73<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    788543 | PA      | $778573.93    | 0.50%             | 2049-07-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL GLBL                                                         | Northwestern Mutual Global Funding                                              | CUSIP: 66815L2M0<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30426.49     | 0.02%             | 2028-06-12      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| OSHKOSH CORP                                                                     | Oshkosh Corp                                                                    | CUSIP: 688225AH4<br>LEI: 549300FEKNPCFSA2B506 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69071.49     | 0.04%             | 2030-03-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                           | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CB9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71128.38     | 0.05%             | 2031-01-29      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                            | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                                  | CUSIP: 63968XAD7<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |    325000 | PA      | $336587.06    | 0.22%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                     | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     20000 | PA      | $21225.19     | 0.01%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| EVERGY METRO                                                                     | Evergy Metro Inc                                                                | CUSIP: 30037DAA3<br>LEI: 1128SIJQ26096WL7IO82 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62377.72     | 0.04%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                                                    | Amphenol Corp                                                                   | CUSIP: 032095AL5<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43329.39     | 0.03%             | 2031-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                         | AT&T Inc                                                                        | CUSIP: 04650NAB0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113900.97    | 0.07%             | 2040-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| J PAUL GETTY TRUST                                                               | J Paul Getty Trust/The                                                          | CUSIP: 374288AC2<br>LEI: 72TDDU3K225INPK3EI14 | Long             | DBT              | CORP              | US        |    450000 | PA      | $443908.05    | 0.29%             | 2035-04-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DSJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         0 | PA      | $0.01         | 0.00%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DIAGEO INVESTMENT CORP                                                           | Diageo Investment Corp                                                          | CUSIP: 25245BAE7<br>LEI: S4G8DPIPDVCF6CB81Z61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205290.46    | 0.13%             | 2035-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                        | CUSIP: 64972FT30<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    375000 | PA      | $369589.28    | 0.24%             | 2042-06-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                                  | OREGON ST                                                                       | CUSIP: 68609UNP6<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    225000 | PA      | $228846.94    | 0.15%             | 2036-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Aon Corp                                                                         | Aon Corp                                                                        | CUSIP: 037389BC6<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |    140000 | PA      | $136005.03    | 0.09%             | 2029-05-02      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                                                                | Union Electric Co                                                               | CUSIP: 906548CW0<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65511.96     | 0.04%             | 2053-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                                     | VIRGINIA ST RESOURCES AUTH INFRASTRUCTURE REVENUE                               | CUSIP: 92818GJL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $351287.06    | 0.23%             | 2039-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                                         | Mars Inc                                                                        | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100336.28    | 0.06%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                           | BP Capital Markets America Inc                                                  | CUSIP: 10373QCB4<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111475.75    | 0.07%             | 2029-11-25      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                                       | SOUTH DAKOTA ST HSG DEV AUTH                                                    | CUSIP: 83756C4R3<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |     95000 | PA      | $98528.57     | 0.06%             | 2054-05-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                           | American Honda Finance Corp                                                     | CUSIP: 02665WEB3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    120000 | PA      | $110431.45    | 0.07%             | 2029-01-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                                                                 | Alabama Power Co                                                                | CUSIP: 010392GB8<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |     70000 | PA      | $73611.16     | 0.05%             | 2033-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                                          | Public Service Electric and Gas Co                                              | CUSIP: 74456QCJ3<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    130000 | PA      | $117161.26    | 0.08%             | 2032-03-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                        | CUSIP: 00206RJY9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    130000 | PA      | $116341.01    | 0.07%             | 2031-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HALLIBURTON CO                                                                   | Halliburton Co                                                                  | CUSIP: 406216BL4<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | DBT              | CORP              | US        |    300000 | PA      | $275359.12    | 0.18%             | 2030-03-01      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                            | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2U5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $113321.81    | 0.07%             | 2028-07-17      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                          | MPLX LP                                                                         | CUSIP: 55336VBV1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145570.32    | 0.09%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                              | Fifth Third Bancorp                                                             | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109636.62    | 0.07%             | 2030-07-28      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                                      | Equifax Inc                                                                     | CUSIP: 294429AX3<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49901.46     | 0.03%             | 2029-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                                                | CUSIP: 57582PUE8<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50028.66     | 0.03%             | 2039-12-01      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                                                         | Cooperatieve Rabobank UA                                                        | CUSIP: 74977RDU5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    350000 | PA      | $360406.37    | 0.23%             | 2033-01-21      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                  | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71075.57     | 0.05%             | 2030-01-16      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                                                 | Bank of Montreal                                                                | CUSIP: 06368LWU6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $259133.22    | 0.17%             | 2028-09-25      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                                  | OREGON ST                                                                       | CUSIP: 68607LXQ5<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |     70916 | PA      | $72044.09     | 0.05%             | 2027-06-01      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | Small Business Administration Participation Certificates                        | CUSIP: 83162CX99<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1086455 | PA      | $1076203.81   | 0.69%             | 2049-08-01      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                                    | Citigroup Inc                                                                   | CUSIP: 172967LW9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118091.67    | 0.08%             | 2029-04-23      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                        | Boeing Co/The                                                                   | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161402.74    | 0.10%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                                                           | Anglo American Capital PLC                                                      | CUSIP: 034863AX8<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $355253.05    | 0.23%             | 2030-09-10      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Maryland Department of Housing & Community Development                           | MARYLAND CMNTY DEV ADMIN HSG & CMNTY DEV                                        | CUSIP: 57419UVH8<br>LEI: 549300Q5BSL77YR7NP93 | Long             | DBT              | MUN               | US        |    440000 | PA      | $443195.68    | 0.29%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                                                        | ALA Trust 2025-OANA                                                             | CUSIP: 009920AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $241005.17    | 0.15%             | 2030-06-15      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DLT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    282899 | PA      | $243251.94    | 0.16%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                                                                | General Mills Inc                                                               | CUSIP: 370334CW2<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113527.24    | 0.07%             | 2028-10-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                                | Kinder Morgan Inc                                                               | CUSIP: 494553AD2<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50558.03     | 0.03%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRKCo Inc                                                                        | WRKCo Inc                                                                       | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48969.67     | 0.03%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-GPA3                                          | CUSIP: 123910AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140657 | PA      | $140657.11    | 0.09%             | 2039-12-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                            | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    300000 | PA      | $260098.09    | 0.17%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    130000 | PA      | $116453.21    | 0.07%             | 2031-06-03      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                       | US Bancorp                                                                      | CUSIP: 91159HJJ0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103653.30    | 0.07%             | 2033-10-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Taubman Centers Commercial Mortgage Trust                                        | TCO Commercial Mortgage Trust 2024-DPM                                          | CUSIP: 87231EAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125000 | PA      | $124960.94    | 0.08%             | 2039-12-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| GM Financial Revolving Receivables Trust                                         | GM Financial Revolving Receivables Trust 2024-2                                 | CUSIP: 379925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $124723.58    | 0.08%             | 2037-03-11      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                     | UBS Group AG                                                                    | CUSIP: 902613AK4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $171635.37    | 0.11%             | 2033-02-11      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43980.04     | 0.03%             | 2033-01-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CZ55<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1000000 | PA      | $1014858.80   | 0.65%             | 2045-01-01      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT                                                          | Wisconsin Power and Light Co                                                    | CUSIP: 976826BS5<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70116.46     | 0.05%             | 2034-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| EASTMAN CHEMICAL CO                                                              | Eastman Chemical Co                                                             | CUSIP: 277432AX8<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | DBT              | CORP              | US        |    160000 | PA      | $163934.31    | 0.11%             | 2033-03-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DHM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    583282 | PA      | $520700.07    | 0.33%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                                         | Enterprise Products Operating LLC                                               | CUSIP: 29379VBV4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113888.10    | 0.07%             | 2029-07-31      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| M&T Bank Auto Receivables Trust                                                  | M&T Bank Auto Receivables Trust 2025-1                                          | CUSIP: 55287XAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1008490.30   | 0.65%             | 2032-07-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| AGREE LP                                                                         | Agree LP                                                                        | CUSIP: 008513AA1<br>LEI: 549300DXY3G299V1BO77 | Long             | DBT              |  | US        |    280000 | PA      | $254255.74    | 0.16%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                                       | Intel Corp                                                                      | CUSIP: 458140CN8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80197.15     | 0.05%             | 2031-02-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission                                                  | TEXAS ST TRANSPRTN COMMISSION                                                   | CUSIP: 882830BC5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    350000 | PA      | $276517.19    | 0.18%             | 2034-10-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Small Business Administration Participation Certs                                | United States Small Business Administration                                     | CUSIP: 83162CT94<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1133476 | PA      | $1142295.78   | 0.73%             | 2048-07-01      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                                                      | Exelon Corp                                                                     | CUSIP: 30161NBJ9<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111890.97    | 0.07%             | 2028-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MASS INSTITUTE OF TECH                                                           | Massachusetts Institute of Technology                                           | CUSIP: 575718AK7<br>LEI: DLZO3A31IADZ27B62557 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214449.55    | 0.14%             | 2055-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                                   | Lowe's Cos Inc                                                                  | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    170000 | PA      | $158206.72    | 0.10%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL                                                          | Southern Co Gas Capital Corp                                                    | CUSIP: 8426EPAH1<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193061.00    | 0.12%             | 2034-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                                           | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBN6<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200769.85    | 0.13%             | 2029-02-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                                                            | Evergy Kansas Central Inc                                                       | CUSIP: 30036FAA9<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6732.60      | 0.00%             | 2050-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                                        | LOS ANGELES CA CMNTY CLG DIST                                                   | CUSIP: 54438CYN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $88628.94     | 0.06%             | 2030-08-01      | Fixed         | 1.81%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DES7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    269043 | PA      | $231029.12    | 0.15%             | 2049-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44228.19     | 0.03%             | 2033-01-25      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                                | HSBC Holdings PLC                                                               | CUSIP: 404280ER6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200508.37    | 0.13%             | 2031-03-03      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                           | Williams Cos Inc/The                                                            | CUSIP: 969457BZ2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     85000 | PA      | $82262.76     | 0.05%             | 2032-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                                | HSBC Holdings PLC                                                               | CUSIP: 404280DU0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $258473.19    | 0.17%             | 2029-03-09      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                                         | RTX Corp                                                                        | CUSIP: 75513ECV1<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    110000 | PA      | $116822.97    | 0.08%             | 2031-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CRH SMW FINANCE DAC                                                              | CRH SMW Finance DAC                                                             | CUSIP: 12704PAA6<br>LEI: 54930044475SH442C864 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $203769.80    | 0.13%             | 2029-05-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                                      | Prologis LP                                                                     | CUSIP: 74340XCQ2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |     30000 | PA      | $30094.15     | 0.02%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH                         | CUSIP: 54627RAP5<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    100000 | PA      | $93675.44     | 0.06%             | 2039-08-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                                      | Equifax Inc                                                                     | CUSIP: 294429AT2<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    120000 | PA      | $102964.01    | 0.07%             | 2031-09-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DWAG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    838189 | PA      | $688705.38    | 0.44%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418CXN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    728808 | PA      | $679871.53    | 0.44%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV6R1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1136408 | PA      | $892621.17    | 0.57%             | 2050-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp                                                            | Norfolk Southern Corp                                                           | CUSIP: 655844CB2<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82314.36     | 0.05%             | 2118-08-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                         | Capital One Financial Corp                                                      | CUSIP: 14040HCN3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    170000 | PA      | $160466.20    | 0.10%             | 2030-03-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                                         | Canadian Pacific Railway Co                                                     | CUSIP: 13645RBJ2<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $191342.69    | 0.12%             | 2030-03-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DV3M5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1438765 | PA      | $1238616.75   | 0.80%             | 2049-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES PWR-MINN                                                         | Northern States Power Co/MN                                                     | CUSIP: 665772CV9<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |    230000 | PA      | $189117.45    | 0.12%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                                                    | SBA Small Business Investment Cos                                               | CUSIP: 831641FZ3<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   1850000 | PA      | $1869523.98   | 1.20%             | 2035-03-10      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                              | Fifth Third Bancorp                                                             | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    110000 | PA      | $114037.08    | 0.07%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                                                               | BMW US Capital LLC                                                              | CUSIP: 05565ECR4<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49748.55     | 0.03%             | 2029-08-13      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                              | American Express Co                                                             | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112555.08    | 0.07%             | 2029-07-27      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DP97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1491547 | PA      | $1171574.09   | 0.75%             | 2050-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                                                | Healthpeak OP LLC                                                               | CUSIP: 40414LAR0<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    200000 | PA      | $190711.25    | 0.12%             | 2029-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                            | CUSIP: 06051GJL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    130000 | PA      | $111901.94    | 0.07%             | 2031-10-24      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                                                     | NNN REIT Inc                                                                    | CUSIP: 637417AK2<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |     10000 | PA      | $9760.96      | 0.01%             | 2027-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                                      | Prologis LP                                                                     | CUSIP: 74340XCA7<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |     30000 | PA      | $25706.17     | 0.02%             | 2031-02-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                                                     | Comcast Corp                                                                    | CUSIP: 20030NCL3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    120000 | PA      | $108858.71    | 0.07%             | 2038-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                                                         | Health Care Service Corp A Mutual Legal Reserve Co                              | CUSIP: 42218SAK4<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161990.76    | 0.10%             | 2029-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                                                     | AutoZone Inc                                                                    | CUSIP: 053332BJ0<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132501.06    | 0.09%             | 2029-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PDU7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    210000 | PA      | $214257.54    | 0.14%             | 2029-07-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                                        | ONEOK Inc                                                                       | CUSIP: 682680CC5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19680.10     | 0.01%             | 2029-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                             | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6595000 | PA      | $6289981.25   | 4.05%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| NEWMONT / NEWCREST FIN                                                           | Newmont Corp / Newcrest Finance Pty Ltd                                         | CUSIP: 65163LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50492.07     | 0.03%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-XL5                                           | CUSIP: 05612GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    293377 | PA      | $293559.89    | 0.19%             | 2041-03-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                                                         | BHP Billiton Finance USA Ltd                                                    | CUSIP: 055451BC1<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    110000 | PA      | $112348.81    | 0.07%             | 2028-09-08      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                            | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A3G5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $111548.73    | 0.07%             | 2032-01-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAB0<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124630.63    | 0.08%             | 2038-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                                            | Rio Tinto Finance USA PLC                                                       | CUSIP: 76720AAS5<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     40000 | PA      | $40435.72     | 0.03%             | 2030-03-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                                           | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBZ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    180000 | PA      | $181951.07    | 0.12%             | 2032-07-22      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186014.01    | 0.12%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                   | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49384.48     | 0.03%             | 2030-09-19      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| AMEREN MISSOURI SEC FU I                                                         | Ameren Missouri Securitization Funding I LLC                                    | CUSIP: 023940AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $53820.46     | 0.03%             | 2039-10-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                                   | Enterprise Fleet Financing 2025-1 LLC                                           | CUSIP: 29390HAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    730000 | PA      | $739209.10    | 0.48%             | 2031-09-22      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                                                            | Evergy Kansas Central Inc                                                       | CUSIP: 30036FAD3<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |    310000 | PA      | $308327.47    | 0.20%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192853.44    | 0.12%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                                          | Public Service Electric and Gas Co                                              | CUSIP: 74456QCQ7<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10110.85     | 0.01%             | 2034-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                 | CUSIP: 37045XDW3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250137.04    | 0.16%             | 2027-04-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DKV3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    279520 | PA      | $259273.93    | 0.17%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                  | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9785.46      | 0.01%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| LENNOX INTERNATIONAL INC                                                         | Lennox International Inc                                                        | CUSIP: 526107AF4<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | DBT              | CORP              | US        |     82000 | PA      | $76914.80     | 0.05%             | 2027-08-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                 | CUSIP: 37045XDP8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55187.83     | 0.04%             | 2028-10-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                            | Truist Financial Corp                                                           | CUSIP: 89788MAL6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60327.62     | 0.04%             | 2029-01-26      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                | CUSIP: 3132DWCC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1480857 | PA      | $1212725.00   | 0.78%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193210.58    | 0.12%             | 2028-02-24      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| RELX CAPITAL INC                                                                 | RELX Capital Inc                                                                | CUSIP: 74949LAG7<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100428.88    | 0.06%             | 2035-03-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                     | Enbridge Inc                                                                    | CUSIP: 29250NBR5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $224381.52    | 0.14%             | 2033-03-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TRANSCONT GAS PIPE LINE                                                          | Transcontinental Gas Pipe Line Co LLC                                           | CUSIP: 893574AP8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $93178.17     | 0.06%             | 2030-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                        | CUSIP: 26442UAL8<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    230000 | PA      | $196764.19    | 0.13%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CARGILL INC                                                                      | Cargill Inc                                                                     | CUSIP: 141781BS2<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |    130000 | PA      | $111385.15    | 0.07%             | 2031-11-10      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                      | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    220000 | PA      | $187556.42    | 0.12%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                                             | WEC Energy Group Inc                                                            | CUSIP: 92939UAG1<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92319.98     | 0.06%             | 2028-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ONE GAS INC                                                                      | ONE Gas Inc                                                                     | CUSIP: 68235PAN8<br>LEI: 549300HXDWI0LATTX840 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112211.81    | 0.07%             | 2029-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                  | CVS Health Corp                                                                 | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    200000 | PA      | $170090.16    | 0.11%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DFF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    151793 | PA      | $124789.58    | 0.08%             | 2049-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GEORGIA-PACIFIC LLC                                                              | Georgia-Pacific LLC                                                             | CUSIP: 37331NAK7<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26990.42     | 0.02%             | 2030-04-30      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                           | BP Capital Markets America Inc                                                  | CUSIP: 10373QBX7<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111110.96    | 0.07%             | 2029-04-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/Ford Credit                                         | Ford Credit Auto Owner Trust/Ford Credit                                        | CUSIP: 34532MAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    945000 | PA      | $956170.09    | 0.61%             | 2037-08-15      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH HLTH OBL                                                          | Providence St Joseph Health Obligated Group                                     | CUSIP: 743756AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $117085.24    | 0.08%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| KAISER FOUNDATION HOSPIT                                                         | Kaiser Foundation Hospitals                                                     | CUSIP: 48305QAF0<br>LEI: DW4Z57L3G4IRMHYZYK62 | Long             | DBT              | CORP              | US        |    200000 | PA      | $138730.32    | 0.09%             | 2041-06-01      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| PUGET SOUND ENERGY INC                                                           | Puget Sound Energy Inc                                                          | CUSIP: 745332CM6<br>LEI: 8MNFJR7KOMBQ7X62LK44 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110286.86    | 0.07%             | 2034-06-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                            | CUSIP: 649902T29<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     88422 | PA      | $89779.75     | 0.06%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                                        | BPR Trust 2022-OANA                                                             | CUSIP: 05592DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $349890.63    | 0.23%             | 2037-04-15      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 31418DLV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    406283 | PA      | $363192.00    | 0.23%             | 2050-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                                                | Healthpeak OP LLC                                                               | CUSIP: 42250PAB9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    230000 | PA      | $206504.55    | 0.13%             | 2031-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                                                         | Northwestern Mutual Life Insurance Co/The                                       | CUSIP: 668138AE0<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |    160000 | PA      | $107513.26    | 0.07%             | 2051-03-30      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                                                           | Mid-America Apartments LP                                                       | CUSIP: 59523UAP2<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |    120000 | PA      | $119049.38    | 0.08%             | 2028-06-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                                         | Microchip Technology Inc                                                        | CUSIP: 595017BE3<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50315.79     | 0.03%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                             | CUSIP: 46647PBU9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    180000 | PA      | $153732.67    | 0.10%             | 2031-11-19      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NXRA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    800000 | PA      | $810378.50    | 0.52%             | 2031-04-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                                         | Rogers Communications Inc                                                       | CUSIP: 775109DE8<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $110811.27    | 0.07%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                                            | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150AS3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    130000 | PA      | $117493.80    | 0.08%             | 2030-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                     | Comcast Corp                                                                    | CUSIP: 20030NER8<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140778.51    | 0.09%             | 2032-05-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                 | CUSIP: 3140NUN88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2108266 | PA      | $2165646.44   | 1.39%             | 2031-01-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer