# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0001752724-25-156382
**Filing Date:** 2025-6
**Character Count:** 96708
**Document Hash:** 94690b5b8a9914ca81cfd2251affee95
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-156382.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-156382

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND III
- **CENTRAL INDEX KEY:** 0001424212

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 251073532

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange-Traded Fund III
- **DATE OF NAME CHANGE:** 20160419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange Traded Fund III
- **DATE OF NAME CHANGE:** 20080116

## Series and Classes Contracts Data

### First Trust Preferred Securities and Income ETF (Series ID: S000034980)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000107588 | First Trust Preferred Securities and Income ETF | FPE             |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Exchange-Traded Fund III

- **b. Investment Company Act file number:** 811-22245

- **c. CIK number of Registrant:** 0001424212

- **d. LEI of Registrant:** 5493003Z20QMESC6XS29

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

  - **Street Address 1:** 120 East Liberty Drive, Suite 400

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust Preferred Securities and Income ETF

- **b. EDGAR series identifier (if any):** S000034980

- **c. LEI of Series:** 54930020K2F7W4E0C531

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

- **a. Date of fiscal year-end:** 2025-10-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5624993845.93

**Total Liabilities:** $3857960.17

**Net Assets:** $5621135885.76

**Cash Not Reported:** $70539948.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2150.88723000 | **1-Year:** 109187.33469000 | **5-Year:** 1302976.35003000 | **10-Year:** 1174407.72161000 | **30-Year:** 90541.76252000

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

- **3-Month:** 340.28906000 | **1-Year:** 57312.87909000 | **5-Year:** 263974.17544000 | **10-Year:** 387818.57353000 | **30-Year:** 29153.04611000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000107588 | 0.82%                | -0.72%               | -1.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7978840.24              | $12246375.47                               |
| Month 2  | $5333277.10              | $-76890707.81                              |
| Month 3  | $-6294227.35             | $-90439181.87                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   9300000 | PA      | $9214891.05   | 0.16%             | N/A             | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                                                      | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    400000 | PA      | $387855.40    | 0.01%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  36770000 | PA      | $37887403.53  | 0.67%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38144GAB7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    375000 | PA      | $375417.98    | 0.01%             | N/A             | Fixed         | 7.56%                 | No            |                  2 | On Loan: No      |
| ARES FINANCE CO          | Ares Finance Co III LLC                                                      | CUSIP: 04018VAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  40400000 | PA      | $38905478.76  | 0.69%             | 2051-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  25750000 | PA      | $28174620.00  | 0.50%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA     | Royal Bank of Canada                                                         | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  43000000 | PA      | $44278132.00  | 0.79%             | 2084-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP        | State Street Corp                                                            | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  12536000 | PA      | $12611592.08  | 0.22%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC   | Equitable Holdings Inc                                                       | CUSIP: 29452E200<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |   1257930 | NS      | $25158600.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN NATIONAL GROUP  | American National Group Inc                                                  | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    717877 | NS      | $17889494.84  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG | Banco Bilbao Vizcaya Argentaria SA                                           | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  15600000 | PA      | $15305807.40  | 0.27%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                                                | CUSIP: 345370837<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |    531909 | NS      | $10909453.59  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL ATLANTIC          | Global Atlantic Fin Co                                                       | CUSIP: 37959GAC1<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |  73935000 | PA      | $70291629.59  | 1.25%             | 2051-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| TPG OPERATING GROUP II   | TPG Operating Group II LP                                                    | CUSIP: 872652102<br>LEI: 2549001H9RJQNZT7MU11 | Long             | EP               | CORP              | US        |   1159645 | NS      | $27761901.30  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD   | Arch Capital Group Ltd                                                       | CUSIP: 03939A404<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |    314140 | NS      | $5337238.60   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC             | Enbridge Inc                                                                 | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  28420000 | PA      | $29058881.60  | 0.52%             | 2083-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP       | Energy Transfer LP                                                           | CUSIP: 29273VAL4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100045.70    | 0.00%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BK OF TEXAS  | Farm Credit Bank of Texas                                                    | CUSIP: 30767EAE9<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |   6200000 | PA      | $6439828.40   | 0.11%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES | Banco de Credito e Inversiones SA                                            | CUSIP: 05890PAC0<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |   5000000 | PA      | $5185650.00   | 0.09%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Invesco Preferred ETF    | Invesco Preferred ETF                                                        | CUSIP: 46138E511<br>LEI: 549300J11Q08WEERN210 | Long             | EC               | RF                | US        |   3995460 | NS      | $44069923.80  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE         | Societe Generale SA                                                          | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  33820000 | PA      | $35461480.08  | 0.63%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                                                | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |     62805 | NS      | $1329581.85   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL FARM CREDIT ACA  | Capital Farm Credit ACA                                                      | CUSIP: 14019TAA4<br>LEI: 254900S6K5I3OISPS518 | Long             | DBT              | CORP              | US        |  28250000 | PA      | $27685011.30  | 0.49%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US CELLULAR CORP         | United States Cellular Corp                                                  | CUSIP: 911684801<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |   2215120 | NS      | $48644035.20  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VIII           | SCE Trust VIII                                                               | CUSIP: 80620A208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    543428 | NS      | $11917376.04  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                                           | CUSIP: 11259P109<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |    891011 | NS      | $12839468.51  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  15500000 | PA      | $15325853.47  | 0.27%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05971KAP4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  21600000 | PA      | $23584024.80  | 0.42%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURA | Meiji Yasuda Life Insurance Co                                               | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |  30600000 | PA      | $30254498.46  | 0.54%             | 2055-06-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA     | Royal Bank of Canada                                                         | CUSIP: 780082AT0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  33850000 | PA      | $31140370.46  | 0.55%             | 2084-11-24      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                                                 | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3102481.20   | 0.06%             | N/A             | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC | F&G Annuities & Life Inc                                                     | CUSIP: 30190A609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2387984 | NS      | $55950465.12  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AMTRUST FINANCIAL SERVIC | AmTrust Financial Services Inc                                               | CUSIP: 032359853<br>LEI: 549300SNNS1GRWBTGA28 | Long             | EP               | CORP              | US        |    364175 | NS      | $5863217.50   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| COBANK ACB               | CoBank ACB                                                                   | CUSIP: 19075QAC6<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |   7341000 | PA      | $7288761.44   | 0.13%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    252419 | NS      | $4785864.24   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC        | HSBC Holdings PLC                                                            | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  48450000 | PA      | $47358218.01  | 0.84%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                                              | CUSIP: 125896852<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    698044 | NS      | $15363948.44  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC             | NiSource Inc                                                                 | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |  21700000 | PA      | $21224813.40  | 0.38%             | 2055-03-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| US CELLULAR CORP         | United States Cellular Corp                                                  | CUSIP: 911684884<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |   2229005 | NS      | $49439330.90  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC        | HSBC Holdings PLC                                                            | CUSIP: 404280EH8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  30800000 | PA      | $30621877.44  | 0.54%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                                              | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |   1460655 | NS      | $18491892.30  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  65630000 | PA      | $66509969.67  | 1.18%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 514666AM8<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |  14010000 | PA      | $11698350.00  | 0.21%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP               | US Bancorp                                                                   | CUSIP: 902973759<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |    238844 | NS      | $5319055.88   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                                                         | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |      5044 | NS      | $124637.24    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC             | Enbridge Inc                                                                 | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  21350000 | PA      | $20500641.49  | 0.36%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK    | Toronto-Dominion Bank/The                                                    | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  63430000 | PA      | $65718871.55  | 1.17%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                                                      | CUSIP: 25401T306<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |     38356 | NS      | $814681.44    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NOVA SCOTIA      | Bank of Nova Scotia/The                                                      | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  44149000 | PA      | $45283982.49  | 0.81%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD INSUR GRP INC/T | Hartford Insurance Group Inc/The                                             | CUSIP: 416515BC7<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |  68464000 | PA      | $62592771.78  | 1.11%             | 2047-02-12      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG | Banco Bilbao Vizcaya Argentaria SA                                           | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  25200000 | PA      | $27203475.60  | 0.48%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc                                          | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  40006000 | PA      | $40513549.72  | 0.72%             | 2054-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                                                  | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |      4142 | NS      | $81100.36     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC             | Assurant Inc                                                                 | CUSIP: 04621X306<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EP               | CORP              | US        |    532486 | NS      | $10383477.00  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9316309.88   | 0.17%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KUVARE US HOLDINGS INC   | Kuvare US Holdings Inc                                                       | CUSIP: 50149XAA2<br>LEI: 254900MGBERNLZXF7O58 | Long             | DBT              | CORP              | US        |  26429000 | PA      | $26419501.68  | 0.47%             | 2051-02-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE             | AES Corp/The                                                                 | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |  41540000 | PA      | $38843612.01  | 0.69%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                                              | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |   1177385 | NS      | $16966117.85  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPEER FINANCIAL ACA    | Compeer Financial ACA                                                        | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | DBT              | CORP              | US        |  13950000 | PA      | $13322250.00  | 0.24%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     65708 | NS      | $76883616.64  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        | 139492000 | PA      | $139904968.86 | 2.49%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  17900000 | PA      | $17168743.83  | 0.31%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SCE TRUST V              | SCE Trust V                                                                  | CUSIP: 78409W201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    216324 | NS      | $4925697.48   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY  | Algonquin Power & Utilities Corp                                             | CUSIP: 015857808<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |    688492 | NS      | $17315573.80  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SWEDBANK AB              | Swedbank AB                                                                  | CUSIP: 000000000<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   3200000 | PA      | $3285848.00   | 0.06%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| AXIS CAPITAL HLDGS LTD   | Axis Capital Holdings Ltd                                                    | CUSIP: 05461T305<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EP               | CORP              | BM        |    416791 | NS      | $8485864.76   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERZBANK AG           | Commerzbank AG                                                               | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |  36800000 | PA      | $36514800.00  | 0.65%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  65985000 | PA      | $67454024.06  | 1.20%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                                                         | CUSIP: 379378300<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    506445 | NS      | $11445657.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc                                          | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  12341000 | PA      | $12397867.33  | 0.22%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP           | Air Lease Corp                                                               | CUSIP: 00912XBQ6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  36433000 | PA      | $34191944.23  | 0.61%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  35416000 | PA      | $32391183.19  | 0.58%             | 2054-10-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                                                 | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |   1910076 | NS      | $35374607.52  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  24790000 | PA      | $24657213.11  | 0.44%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                                                         | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    300535 | NS      | $7345075.40   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES   | PNC Financial Services Group Inc/The                                         | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  41711000 | PA      | $41141440.47  | 0.73%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARGO GROUP INTERNATIONAL | Argo Group International Holdings Inc                                        | CUSIP: 040128407<br>LEI: 984500ID778EF9FCDF46 | Long             | EP               | CORP              | US        |      2941 | NS      | $73583.82     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 514666AK2<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |  31520000 | PA      | $29313480.22  | 0.52%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  30500000 | PA      | $31202544.63  | 0.56%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FORTEGRA FINANCIAL CORP  | Fortegra Financial Corp                                                      | CUSIP: 34954WAA2<br>LEI: 5493004Z5XFZNDJRE757 | Long             | DBT              | CORP              | US        |  13700000 | PA      | $13391750.00  | 0.24%             | 2057-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA      | Bank of Nova Scotia/The                                                      | CUSIP: 0641598X7<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  30800000 | PA      | $30552620.56  | 0.54%             | 2085-04-27      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                                               | CUSIP: 74460W552<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    126961 | NS      | $2398293.29   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PHOENIX COMPANIES INC    | Phoenix Cos Inc/The                                                          | CUSIP: 71902E208<br>LEI: 549300Q3ENSFI87YLC32 | Long             | EP               | CORP              | US        |    223423 | NS      | $3943415.95   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN | Rogers Communications Inc                                                    | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   6229000 | PA      | $6279288.09   | 0.11%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AR9<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |  81425000 | PA      | $6106875.00   | 0.11%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP   | Bank of New York Mellon Corp/The                                             | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |   1489700 | NS      | $37421264.00  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC | Brookfield Infrastructure Finance ULC                                        | CUSIP: 11276B109<br>LEI: N/A                  | Long             | EP               | CORP              | CA        |    613959 | NS      | $9903158.67   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  35949000 | PA      | $37933924.04  | 0.67%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| AMER AGCREDIT ACA        | American AgCredit Corp                                                       | CUSIP: 02369GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  64250000 | PA      | $60234375.00  | 1.07%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE    | Nippon Life Insurance Co                                                     | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |  15499000 | PA      | $15733938.18  | 0.28%             | 2055-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC   | Standard Chartered PLC                                                       | CUSIP: 853254DA5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   5000000 | PA      | $5021700.00   | 0.09%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  13778000 | PA      | $13338525.89  | 0.24%             | 2054-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AMTRUST FINANCIAL SERVIC | AmTrust Financial Services Inc                                               | CUSIP: 032359861<br>LEI: 549300SNNS1GRWBTGA28 | Long             | EP               | CORP              | US        |    313006 | NS      | $4788991.80   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE         | Societe Generale SA                                                          | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  25000000 | PA      | $26945325.00  | 0.48%             | N/A             | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PJ4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19915650.00  | 0.35%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                                            | CUSIP: 020002838<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |     10842 | NS      | $224754.66    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HLDGS | Brookfield Oaktree Holdings LLC                                              | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    958030 | NS      | $19495910.50  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP INC  | CNO Financial Group Inc                                                      | CUSIP: 12621E301<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EP               | CORP              | US        |    725495 | NS      | $12536553.60  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL         | Bank of Montreal                                                             | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  30189000 | PA      | $29742990.73  | 0.53%             | 2084-11-26      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA      | Bank of Nova Scotia/The                                                      | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  38764000 | PA      | $40172656.63  | 0.71%             | 2082-10-27      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP        | State Street Corp                                                            | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  31000000 | PA      | $31205871.00  | 0.56%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK   | Canadian Imperial Bank of Commerce                                           | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  18500000 | PA      | $17884114.65  | 0.32%             | 2085-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX | CUSIP: 05533UAG3<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |  11600000 | PA      | $11172282.13  | 0.20%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN | Rogers Communications Inc                                                    | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  45275000 | PA      | $45139952.82  | 0.80%             | 2055-04-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3803000 | PA      | $3728476.94   | 0.07%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05971PAE8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |  23000000 | PA      | $22974525.20  | 0.41%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                                                          | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14840.17     | 0.00%             | N/A             | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                                                | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    857989 | NS      | $13118651.81  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                                                 | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   5653000 | PA      | $5325010.11   | 0.09%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO   | Global Atlantic Fin Co                                                       | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |  25274000 | PA      | $25729412.21  | 0.46%             | 2054-10-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES   | PNC Financial Services Group Inc/The                                         | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  19345000 | PA      | $19380616.08  | 0.34%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  21265000 | PA      | $21265322.59  | 0.38%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SCENTRE GROUP TRUST 2    | Scentre Group Trust 2                                                        | CUSIP: 76025LAB0<br>LEI: 549300VRF0U0JH8TBJ74 | Long             | DBT              | CORP              | AU        |  27435000 | PA      | $26838820.99  | 0.48%             | 2080-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    110579 | NS      | $128492798.00 | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    987534 | NS      | $21656620.62  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                                                     | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |    708693 | NS      | $13507688.58  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD   | Arch Capital Group Ltd                                                       | CUSIP: 03939A107<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |        32 | NS      | $657.60       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                                                     | CUSIP: 744320805<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |     42858 | NS      | $990448.38    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2535149.37   | 0.05%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                                              | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |  31000000 | PA      | $31657479.00  | 0.56%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV             | ING Groep NV                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    285000 | PA      | $289273.58    | 0.01%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                                              | CUSIP: 842587404<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     50423 | NS      | $1087624.11   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                                                | CUSIP: 008252827<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |   1111341 | NS      | $26327668.29  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VII            | SCE Trust VII                                                                | CUSIP: 783892201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1366259 | NS      | $31492269.95  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc                                          | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  16250000 | PA      | $16380812.50  | 0.29%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico    | CUSIP: 072912AA6<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |  12300000 | PA      | $12392250.00  | 0.22%             | 2035-02-11      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GLOBE LIFE INC           | Globe Life Inc                                                               | CUSIP: 37959E300<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EP               | CORP              | US        |     87348 | NS      | $1362628.80   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER  | American Electric Power Co Inc                                               | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |  51590000 | PA      | $52024903.70  | 0.93%             | 2054-12-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AEGON FUNDING CO LLC     | AEGON Funding Co LLC                                                         | CUSIP: 00775V104<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | EP               | CORP              | US        |   2498228 | NS      | $50264347.36  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |  27200000 | PA      | $2040000.00   | 0.04%             | N/A             | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05971PAC2<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |  21630000 | PA      | $21895832.70  | 0.39%             | N/A             | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |  44888000 | PA      | $36808160.00  | 0.65%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD OAKTREE HLDGS | Brookfield Oaktree Holdings LLC                                              | CUSIP: 674001300<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    603978 | NS      | $12429867.24  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BANC CREDITO INVERSIONES | Banco de Credito e Inversiones SA                                            | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |  11320000 | PA      | $11740311.60  | 0.21%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA      | Intesa Sanpaolo SpA                                                          | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $201122.45    | 0.00%             | N/A             | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| COBANK ACB               | CoBank ACB                                                                   | CUSIP: 19075QAE2<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |  34455000 | PA      | $34360424.47  | 0.61%             | N/A             | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  15075000 | PA      | $13549150.71  | 0.24%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                                                   | CUSIP: 14040H824<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |     60806 | NS      | $1136464.14   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE FINANCIAL PARTN | Pinnacle Financial Partners Inc                                              | CUSIP: 72346Q302<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EP               | CORP              | US        |    311869 | NS      | $7609603.60   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LAND O LAKES CAP TRST I  | Land O'Lakes Capital Trust I                                                 | CUSIP: 514665AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20360000 | PA      | $20320298.00  | 0.36%             | 2028-03-15      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK    | Toronto-Dominion Bank/The                                                    | CUSIP: 89116CKP1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   8030000 | PA      | $7997138.03   | 0.14%             | 2084-07-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC | Corebridge Financial Inc                                                     | CUSIP: 21871X208<br>LEI: 549300XY1661QCIA7J65 | Long             | EP               | CORP              | US        |   1905537 | NS      | $45466112.82  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                                                | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    225115 | NS      | $4680140.85   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  50600000 | PA      | $57288864.60  | 1.02%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| BELL CANADA              | Bell Telephone Co of Canada or Bell Canada                                   | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |  50500000 | PA      | $50239480.60  | 0.89%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC | F&G Annuities & Life Inc                                                     | CUSIP: 30190A203<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1704776 | NS      | $43591122.32  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ENSTAR GROUP LTD         | Enstar Group Ltd                                                             | CUSIP: 29359U109<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EP               | CORP              | BM        |     24996 | NS      | $532914.72    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                                              | CUSIP: 125896845<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    486703 | NS      | $10853476.90  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  93350000 | PA      | $96392753.52  | 1.71%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                                                      | CUSIP: 25401T405<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    445340 | NS      | $9605983.80   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225436AA2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   1200000 | PA      | $90000.00     | 0.00%             | N/A             | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                                              | CUSIP: 842587867<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    822284 | NS      | $20992910.52  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |  22250000 | PA      | $21763356.90  | 0.39%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CNP ASSURANCES SACA      | CNP Assurances SACA                                                          | CUSIP: 000000000<br>LEI: 969500QKVPV2H8UXM738 | Long             | DBT              | CORP              | FR        |  24400000 | PA      | $20929405.00  | 0.37%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CHS INC                  | CHS Inc                                                                      | CUSIP: 12542R704<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    232432 | NS      | $5687611.04   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| COBANK ACB               | CoBank ACB                                                                   | CUSIP: 19075QAF9<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |  12500000 | PA      | $12539675.00  | 0.22%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG         | Deutsche Bank AG                                                             | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  50200000 | PA      | $49288222.42  | 0.88%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  15600000 | PA      | $16146140.40  | 0.29%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                                                | CUSIP: 008252843<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    197154 | NS      | $3337817.22   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES   | PNC Financial Services Group Inc/The                                         | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  35116000 | PA      | $34819554.24  | 0.62%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L | RenaissanceRe Holdings Ltd                                                   | CUSIP: 75968N309<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |     85784 | NS      | $1835777.60   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                                                     | CUSIP: 00206R508<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |    403744 | NS      | $8103142.08   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |    771688 | NS      | $16081977.92  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EUSHI FINANCE INC        | EUSHI Finance Inc                                                            | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21680000 | PA      | $21830827.76  | 0.39%             | 2054-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128B655<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |    101097 | NS      | $2480920.38   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AES CORP/THE             | AES Corp/The                                                                 | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |  12435000 | PA      | $12317647.17  | 0.22%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC             | Enbridge Inc                                                                 | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  48200000 | PA      | $52074798.00  | 0.93%             | 2084-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AL2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |  51775000 | PA      | $3883125.00   | 0.07%             | N/A             | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV             | ING Groep NV                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  22200000 | PA      | $22089000.00  | 0.39%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL         | Bank of Montreal                                                             | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  60800000 | PA      | $62040867.20  | 1.10%             | 2084-05-26      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD              | AltaGas Ltd                                                                  | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |  21500000 | PA      | $21051002.60  | 0.37%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565ASK0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  59483000 | PA      | $50331933.04  | 0.90%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        | 100000000 | PA      | $102411892.00 | 1.82%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC      | Dominion Energy Inc                                                          | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  15500000 | PA      | $15950512.00  | 0.28%             | 2055-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SCE TRUST VI             | SCE Trust VI                                                                 | CUSIP: 78410V200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    322085 | NS      | $5272531.45   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LLOYDS BANKING GROUP PLC | Lloyds Banking Group PLC                                                     | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  68555000 | PA      | $70451231.30  | 1.25%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                                           | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1147770 | NS      | $26903728.80  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY  | Algonquin Power & Utilities Corp                                             | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |  60883000 | PA      | $57200138.62  | 1.02%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                                               | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     99175 | NS      | $2488300.75   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL LNG INC   | Venture Global LNG Inc                                                       | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  57927000 | PA      | $49843570.99  | 0.89%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| KKR GROUP FIN CO IX LLC  | KKR Group Finance Co IX LLC                                                  | CUSIP: 48253M104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    909922 | NS      | $15696154.50  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES CELLULAR C | United States Cellular Corp                                                  | CUSIP: 911684702<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |    704127 | NS      | $16617397.20  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY CORP             | Entergy Corp                                                                 | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |  42784000 | PA      | $43123491.04  | 0.77%             | 2054-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC    | Jackson Financial Inc                                                        | CUSIP: 46817M206<br>LEI: 213800WXW2KG1N4CO374 | Long             | EP               | CORP              | US        |    345375 | NS      | $8962481.25   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIRY FARMERS OF AMERICA | Dairy Farmers of America Inc                                                 | CUSIP: 23385HAA7<br>LEI: 1LTUIZEFFT7MUIERI838 | Long             | DBT              | CORP              | US        |  10700000 | PA      | $10165000.00  | 0.18%             | N/A             | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                                           | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1274505 | NS      | $32002820.55  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC      | Dominion Energy Inc                                                          | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  15550000 | PA      | $16183724.70  | 0.29%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LANCASHIRE HOLDINGS LTD  | Lancashire Holdings Ltd                                                      | CUSIP: 000000000<br>LEI: 5493002UNUYXLHOWF752 | Long             | DBT              | CORP              | BM        |  40630000 | PA      | $37478941.16  | 0.67%             | 2041-09-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2800000 | PA      | $2648431.80   | 0.05%             | N/A             | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA       | Credit Agricole SA                                                           | CUSIP: 225313AR6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  77700000 | PA      | $73769747.52  | 1.31%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L | RenaissanceRe Holdings Ltd                                                   | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |    859247 | NS      | $13430030.61  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AJ7<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |  76900000 | PA      | $5767500.00   | 0.10%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR | Brookfield Infrastructure Partners LP                                        | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |     56983 | NS      | $925973.75    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NATWEST GROUP PLC        | NatWest Group PLC                                                            | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   6156000 | PA      | $6372931.28   | 0.11%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                                                 | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    379213 | NS      | $7011648.37   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  45055000 | PA      | $46376508.21  | 0.83%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                                                      | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  75038000 | PA      | $65571250.94  | 1.17%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                                                | CUSIP: 233331818<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |     20021 | NS      | $349566.66    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER  | American Electric Power Co Inc                                               | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   4920000 | PA      | $4976870.28   | 0.09%             | 2054-12-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC      | Dominion Energy Inc                                                          | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  54106000 | PA      | $53331689.03  | 0.95%             | 2055-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                                                  | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17413374.30  | 0.31%             | 2055-03-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR | Brookfield Infrastructure Partners LP                                        | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |    616426 | NS      | $10134043.44  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                                           | CUSIP: 04686J838<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1337922 | NS      | $33113569.50  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC        | HSBC Holdings PLC                                                            | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  56700000 | PA      | $59030710.20  | 1.05%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                                                     | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |    368843 | NS      | $8369047.67   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128B622<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |    108346 | NS      | $2175587.68   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS SPECIALTY FINANCE   | AXIS Specialty Finance LLC                                                   | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26475000 | PA      | $25201953.86  | 0.45%             | 2040-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP       | Energy Transfer LP                                                           | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  22531000 | PA      | $22259690.71  | 0.40%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  24700000 | PA      | $24258423.28  | 0.43%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ASSURED GUARANTY MUNI    | Assured Guaranty Municipal Holdings Inc                                      | CUSIP: 31769PAB6<br>LEI: 549300WKHOG7BKB8MS12 | Long             | DBT              | CORP              | US        |  12699000 | PA      | $11730129.03  | 0.21%             | 2066-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  56900000 | PA      | $59448152.70  | 1.06%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  30900000 | PA      | $29210764.98  | 0.52%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05962GAJ8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |  15700000 | PA      | $15548460.46  | 0.28%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV             | ING Groep NV                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  38873000 | PA      | $40379328.75  | 0.72%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CARLYLE FINANCE LLC      | Carlyle Finance LLC                                                          | CUSIP: 14314C105<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1615406 | NS      | $27316515.46  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  13608000 | PA      | $14124178.66  | 0.25%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PROP PFD LP   | Brookfield Property Preferred LP                                             | CUSIP: 000000000<br>LEI: 254900N07TR905Y0G344 | Long             | EP               | CORP              | CA        |    173413 | NS      | $2557841.75   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                                                | CUSIP: 345370811<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |    679677 | NS      | $14864535.99  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4262748.00   | 0.08%             | N/A             | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP         | Duke Energy Corp                                                             | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |  23875000 | PA      | $23984872.75  | 0.43%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX | CUSIP: 07336UAA1<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |  31600000 | PA      | $32838392.94  | 0.58%             | 2038-06-29      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                                               | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    441271 | NS      | $11093552.94  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIRY FARMERS OF AMERICA | Dairy Farmers of America Inc                                                 | CUSIP: 23385H406<br>LEI: 1LTUIZEFFT7MUIERI838 | Long             | EP               | CORP              | US        |       700 | NS      | $67025.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                                                        | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |      6173 | NS      | $117904.30    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   8300000 | PA      | $8753520.30   | 0.16%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC             | Assurant Inc                                                                 | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |  34460000 | PA      | $34313300.33  | 0.61%             | 2048-03-27      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT | Apollo Global Management Inc                                                 | CUSIP: 03769M205<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |     22837 | NS      | $606322.35    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                                              | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     95266 | NS      | $1910083.30   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FARM CREDIT BK OF TEXAS  | Farm Credit Bank of Texas                                                    | CUSIP: 30767EAC3<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |   7650000 | PA      | $7516125.00   | 0.13%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| VOYA FINANCIAL INC       | Voya Financial Inc                                                           | CUSIP: 929089209<br>LEI: 549300T065Z4KJ686G75 | Long             | EP               | CORP              | US        |    115803 | NS      | $2810538.81   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SWEDBANK AB              | Swedbank AB                                                                  | CUSIP: 000000000<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   8600000 | PA      | $8836500.00   | 0.16%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                                             | CUSIP: 084423805<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    288882 | NS      | $5604310.80   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128B549<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |    299471 | NS      | $5839684.50   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE PAR | Brookfield Renewable Partners LP                                             | CUSIP: 000000000<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EP               | CORP              | CA        |    642356 | NS      | $10900781.32  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP       | Energy Transfer LP                                                           | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99559.35     | 0.00%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  39422000 | PA      | $36221560.41  | 0.64%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP | Sumitomo Mitsui Financial Group Inc                                          | CUSIP: 86562MDK3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |  17420000 | PA      | $17032321.38  | 0.30%             | N/A             | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA TRUST        | Transcanada Trust                                                            | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |  34700000 | PA      | $32060516.74  | 0.57%             | 2082-03-07      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC   | CenterPoint Energy Inc                                                       | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1401436.96   | 0.02%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP  | American National Group Inc                                                  | CUSIP: 025676867<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |     87757 | NS      | $2207966.12   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP       | Energy Transfer LP                                                           | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96376.74     | 0.00%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC | Liberty Mutual Group Inc                                                     | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |  38910000 | PA      | $36760845.06  | 0.65%             | 2051-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                                                | CUSIP: 345370845<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |    278688 | NS      | $5849661.12   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-23

**Name of Applicant:** First Trust Exchange-Traded Fund III

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer