# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-26-014804
**Filing Date:** 2026-6
**Character Count:** 109657
**Document Hash:** 62c4eeb6dff9e8ba62c8e775c43b2be6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-014804.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0002071691-26-014804

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FLEXSHARES TRUST
- **CENTRAL INDEX KEY:** 0001491978

**ORGANIZATION NAME:**
- **EIN:** 272560399
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22555
- **FILM NUMBER:** 261119250

**BUSINESS ADDRESS:**
- **STREET 1:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** (855) 353-9383

**MAIL ADDRESS:**
- **STREET 1:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FlexShares Trust
- **DATE OF NAME CHANGE:** 20110414

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NT ETF Trust
- **DATE OF NAME CHANGE:** 20100513

## Series and Classes Contracts Data

### FlexShares Ultra-Short Income Fund (Series ID: S000035596)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000109007 | FlexShares Ultra-Short Income Fund | RAVI            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FlexShares Trust

- **b. Investment Company Act file number:** 811-22555

- **c. CIK number of Registrant:** 0001491978

- **d. LEI of Registrant:** 5493007FU2RQX77I4604

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 855-353-9383

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

- **a. Name of Series:** FlexShares Ultra-Short Income Fund

- **b. EDGAR series identifier (if any):** S000035596

- **c. LEI of Series:** 549300731Y7GX2UDFY78

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $1404753484.24

**Total Liabilities:** $415462.71

**Net Assets:** $1404338021.53

**Cash Not Reported:** $378990.89

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 5381.00000000 | **1-Year:** 147054.00000000 | **5-Year:** 26602.00000000 | **10-Year:** 3271.00000000 | **30-Year:** 8556.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 896.00000000 | **10-Year:** 1381.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000109007 | 0.34%                | 0.04%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $59618.74                | $232227.10                                 |
| Month 2  | $-50120.66               | $-4532920.00                               |
| Month 3  | $6733.18                 | $635108.72                                 |

**Designated Index Information**

- **Index Name:** BBG T-Bill 1-3M

- **Index Identifier:** LTBILL1-3M

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGCO Corp.                                         | AGCO Corp.                                                                   | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1258970.54   | 0.09%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ANZ New Zealand Int'l Ltd.                         | ANZ New Zealand Int'l Ltd.                                                   | CUSIP: 00182EBW8<br>LEI: 213800VD256NU2D97H12 | Long             | DBT              | CORP              | NZ        |   5200000 | PA      | $5205524.22   | 0.37%             | 2029-01-22      | Floating      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                         | AT&T, Inc.                                                                   | CUSIP: 00206RHW5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |  23000000 | PA      | $22937207.01  | 1.63%             | 2027-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                | Abbott Laboratories                                                          | CUSIP: 002824BY5<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |  23100000 | PA      | $23128875.00  | 1.65%             | 2029-03-09      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                       | AbbVie, Inc.                                                                 | CUSIP: 00287YEC9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11015730.00  | 0.78%             | 2028-03-03      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| Accenture Capital, Inc.                            | Accenture Capital, Inc.                                                      | CUSIP: 00440KAA1<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4487763.33   | 0.32%             | 2027-10-04      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                         | AerCap Ireland Capital DAC                                                   | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   8000000 | PA      | $7935002.08   | 0.57%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.                       | Advanced Micro Devices, Inc.                                                 | CUSIP: 007903BH9<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |   6100000 | PA      | $6105925.60   | 0.43%             | 2026-09-24      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies, Inc.                         | Agilent Technologies, Inc.                                                   | CUSIP: 00846UAQ4<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |   4520000 | PA      | $4510825.80   | 0.32%             | 2027-09-09      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Sumisho Air Lease Corp.                            | Sumisho Air Lease Corp.                                                      | CUSIP: 00914AAB8<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999405.92    | 0.07%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Sumisho Air Lease Corp.                            | Sumisho Air Lease Corp.                                                      | CUSIP: 00914AAM4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  10925000 | PA      | $10838242.83  | 0.77%             | 2026-08-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Allstate Corp. (The)                               | Allstate Corp. (The)                                                         | CUSIP: 020002BD2<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |  12313000 | PA      | $12253340.93  | 0.87%             | 2026-12-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                     | Alphabet, Inc.                                                               | CUSIP: 02079KAU1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5014600.00   | 0.36%             | 2028-11-15      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust       | American Credit Acceptance Receivables Trust, Series 2025-3, Class B         | CUSIP: 02528EAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6435000 | PA      | $6447113.24   | 0.46%             | 2029-09-12      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| American Express Co.                               | American Express Co.                                                         | CUSIP: 025816DJ5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4005200.00   | 0.29%             | 2027-07-28      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| American Express Co.                               | American Express Co.                                                         | CUSIP: 025816EQ8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5707834.08   | 0.41%             | 2029-02-09      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                                 | CUSIP: 02665WFC0<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5006000.00   | 0.36%             | 2027-03-12      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                                 | CUSIP: 02665WFS5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $10995911.30  | 0.78%             | 2027-10-22      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                                 | CUSIP: 02665WFV8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300034.63    | 0.02%             | 2026-05-21      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                               | American Tower Corp.                                                         | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   2911000 | PA      | $2899644.13   | 0.21%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Americredit Automobile Receivables Trust           | Americredit Automobile Receivables Trust, Series 2022-1, Class D             | CUSIP: 03066TAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7570000 | PA      | $7534465.66   | 0.54%             | 2028-02-18      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                      | Cencora, Inc.                                                                | CUSIP: 03073EAV7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2097940.52   | 0.15%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                     | Amphenol Corp.                                                               | CUSIP: 032095AV3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6293049.65   | 0.45%             | 2027-11-15      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                              | Elevance Health, Inc.                                                        | CUSIP: 036752BG7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1492747.63   | 0.11%             | 2026-10-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                           | Arthur J Gallagher & Co.                                                     | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  10230000 | PA      | $10259078.37  | 0.73%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Augusta SpinCo Corp.                               | Augusta SpinCo Corp.                                                         | CUSIP: 051473AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1996734.98   | 0.14%             | 2027-09-23      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.         | Australia & New Zealand Banking Group Ltd.                                   | CUSIP: 05252ADV0<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  14380000 | PA      | $14416194.46  | 1.03%             | 2028-12-08      | Floating      | 4.27%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                       | Avolon Holdings Funding Ltd.                                                 | CUSIP: 05401AAW1<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   3200000 | PA      | $3211446.43   | 0.23%             | 2028-01-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                       | Avolon Holdings Funding Ltd.                                                 | CUSIP: 05401ABE0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2050000 | PA      | $2012835.69   | 0.14%             | 2029-04-15      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| BMW US Capital LLC                                 | BMW US Capital LLC                                                           | CUSIP: 05565ECV5<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   8300000 | PA      | $8322605.71   | 0.59%             | 2027-03-19      | Floating      | 4.44%                 | Yes           |                  2 | On Loan: No      |
| BXP Trust                                          | BXP Trust, Series 2017-GM, Class A                                           | CUSIP: 056083AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4600000 | PA      | $4530155.90   | 0.32%             | 2039-06-13      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                       | BX Commercial Mortgage Trust, Series 2019-IMC, Class A                       | CUSIP: 05608BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2354897 | PA      | $2343837.68   | 0.17%             | 2034-04-15      | Floating      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| BPR Trust                                          | BPR Trust, Series 2023-BRK2, Class A                                         | CUSIP: 05610WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1780000 | PA      | $1832353.00   | 0.13%             | 2038-10-05      | Variable      | 7.15%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                       | BX Commercial Mortgage Trust, Series 2024-XL4, Class A                       | CUSIP: 05611VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4235671 | PA      | $4239641.49   | 0.30%             | 2039-02-15      | Floating      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Baker Hughes Holdings LLC                          | Baker Hughes Holdings LLC                                                    | CUSIP: 05724BAL3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1141776.82   | 0.08%             | 2029-03-11      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                                        | CUSIP: 06051GMU0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  24000000 | PA      | $24165040.80  | 1.72%             | 2029-05-09      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                   | Bank of Montreal                                                             | CUSIP: 06368FAD1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   3300000 | PA      | $3303432.96   | 0.24%             | 2026-09-15      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                   | Bank of Montreal                                                             | CUSIP: 06368MXU3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   7200000 | PA      | $7167528.94   | 0.51%             | 2028-09-22      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| Bank of New Zealand                                | Bank of New Zealand                                                          | CUSIP: 06407EAD7<br>LEI: N7LGVZM7X4UQ66T7LT74 | Long             | DBT              | CORP              | NZ        |   4000000 | PA      | $4010715.56   | 0.29%             | 2027-01-27      | Floating      | 4.47%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                          | Bank of Nova Scotia (The)                                                    | CUSIP: 0641598M1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1780000 | PA      | $1782257.04   | 0.13%             | 2026-09-15      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA              | Banque Federative du Credit Mutuel SA                                        | CUSIP: 06675DCH3<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   2940000 | PA      | $2954021.68   | 0.21%             | 2027-01-23      | Floating      | 4.77%                 | Yes           |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA              | Banque Federative du Credit Mutuel SA                                        | CUSIP: 06675DCL4<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10055717.30  | 0.72%             | 2028-02-16      | Floating      | 4.76%                 | Yes           |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA              | Banque Federative du Credit Mutuel SA                                        | CUSIP: 06675DCP5<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   2900000 | PA      | $2924584.37   | 0.21%             | 2030-01-22      | Floating      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                       | Barclays plc                                                                 | CUSIP: 06738ECQ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   9000000 | PA      | $9060812.19   | 0.65%             | 2028-03-12      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                       | Barclays plc                                                                 | CUSIP: 06738EDF9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5100000 | PA      | $5114697.74   | 0.36%             | 2029-11-11      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| BINOM Mortgage Loan Trust                          | BINOM Mortgage Loan Trust, Series 2026-NQM1, Class A1B                       | CUSIP: 09055CAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2862000 | PA      | $2844822.79   | 0.20%             | 2066-02-25      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                     | Blackstone Private Credit Fund                                               | CUSIP: 09261HBR7<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1280319.70   | 0.09%             | 2027-09-26      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BlackRock Funding, Inc.                            | BlackRock Funding, Inc.                                                      | CUSIP: 09290DAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12180000 | PA      | $12257833.37  | 0.87%             | 2027-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                               | Boston Properties LP                                                         | CUSIP: 10112RAY0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2284894.34   | 0.16%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Bravo Residential Funding Trust                    | Bravo Residential Funding Trust, Series 2025-NQM1, Class A1                  | CUSIP: 10569MAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5854325 | PA      | $5888170.44   | 0.42%             | 2064-12-25      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Broadridge Financial Solutions, Inc.               | Broadridge Financial Solutions, Inc.                                         | CUSIP: 11133TAC7<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997982.22    | 0.07%             | 2026-06-27      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd. Finance Corp.                           | Bunge Ltd. Finance Corp.                                                     | CUSIP: 120568BM1<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5032388.95   | 0.36%             | 2027-04-21      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CNH Industrial Capital LLC                         | CNH Industrial Capital LLC                                                   | CUSIP: 12592BAM6<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  10402000 | PA      | $10340292.63  | 0.74%             | 2026-07-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| CNH Industrial Capital LLC                         | CNH Industrial Capital LLC                                                   | CUSIP: 12592BAT1<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2501866.95   | 0.18%             | 2027-10-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                 | Canadian Imperial Bank of Commerce                                           | CUSIP: 13607PVR2<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10012077.10  | 0.71%             | 2028-01-13      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Capital One Multi-Asset Execution Trust            | Capital One Multi-Asset Execution Trust, Series 2024-A1, Class A             | CUSIP: 14041NGE5<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-O            | CORP              | US        |   9000000 | PA      | $8988296.40   | 0.64%             | 2029-09-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | CarMax Auto Owner Trust, Series 2023-1, Class D                              | CUSIP: 14318DAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2636872.94   | 0.19%             | 2029-11-15      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                     | Carvana Auto Receivables Trust, Series 2025-P2, Class A2                     | CUSIP: 14688YAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2232954 | PA      | $2235295.35   | 0.16%             | 2028-08-10      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Chase Issuance Trust                               | Chase Issuance Trust, Series 2023-A1, Class A                                | CUSIP: 161571HT4<br>LEI: 5493008SHVCX2Y068L12 | Long             | ABS-O            | CORP              | US        |   1900000 | PA      | $1908513.71   | 0.14%             | 2028-09-15      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust                  | Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A                  | CUSIP: 161929BH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1238042 | PA      | $1241985.35   | 0.09%             | 2055-02-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Chevron Phillips Chemical Co. LLC                  | Chevron Phillips Chemical Co. LLC                                            | CUSIP: 166754AP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8950358.25   | 0.64%             | 2026-12-01      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Chevron USA, Inc.                                  | Chevron USA, Inc.                                                            | CUSIP: 166756BM7<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |  17200000 | PA      | $17248332.00  | 1.23%             | 2028-08-13      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| Citadel Finance LLC                                | Citadel Finance LLC                                                          | CUSIP: 17287HAE0<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2461031.10   | 0.18%             | 2029-02-14      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                    | Citigroup, Inc.                                                              | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3501249.50   | 0.25%             | 2027-06-09      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                        | Citibank NA                                                                  | CUSIP: 17325FBD9<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3011589.27   | 0.21%             | 2026-12-04      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                        | Citibank NA                                                                  | CUSIP: 17325FBJ6<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4006098.72   | 0.29%             | 2026-08-06      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                    | Citigroup, Inc.                                                              | CUSIP: 17327CAX1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  10286000 | PA      | $10296945.44  | 0.73%             | 2029-03-04      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                     | Citizens Financial Group, Inc.                                               | CUSIP: 174610AR6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6476632.31   | 0.46%             | 2026-07-27      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                     | Commonwealth Bank of Australia                                               | CUSIP: 20271RAV2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   3200000 | PA      | $3216333.76   | 0.23%             | 2028-03-14      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Co. of New York, Inc.          | Consolidated Edison Co. of New York, Inc.                                    | CUSIP: 209111GL1<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |   5200000 | PA      | $5195288.90   | 0.37%             | 2027-11-18      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                | Constellation Energy Generation LLC                                          | CUSIP: 210385AN0<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4395234.71   | 0.31%             | 2028-01-08      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                 | Credit Agricole SA                                                           | CUSIP: 22534PAJ2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   6670000 | PA      | $6697511.68   | 0.48%             | 2027-03-11      | Floating      | 4.53%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                 | Credit Agricole SA                                                           | CUSIP: 22535WAL1<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   5210000 | PA      | $5212452.92   | 0.37%             | 2028-09-11      | Variable      | 4.63%                 | Yes           |                  2 | On Loan: No      |
| DTE Energy Co.                                     | DTE Energy Co.                                                               | CUSIP: 233331AY3<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3082020.40   | 0.22%             | 2026-10-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC            | Daimler Truck Finance North America LLC                                      | CUSIP: 233853AX8<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   3570000 | PA      | $3579783.37   | 0.25%             | 2027-09-25      | Floating      | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC            | Daimler Truck Finance North America LLC                                      | CUSIP: 233853BB5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   4100000 | PA      | $4104762.27   | 0.29%             | 2028-01-13      | Floating      | 4.51%                 | Yes           |                  2 | On Loan: No      |
| John Deere Capital Corp.                           | John Deere Capital Corp.                                                     | CUSIP: 24422EXS3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2004946.56   | 0.14%             | 2027-06-11      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                           | John Deere Capital Corp.                                                     | CUSIP: 24422EYB9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10011750.00  | 0.71%             | 2027-01-05      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                             | Dell International LLC                                                       | CUSIP: 24703TAL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2766314.16   | 0.20%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                   | Deutsche Bank AG                                                             | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   7000000 | PA      | $7346167.36   | 0.52%             | 2029-11-20      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                   | Deutsche Bank AG                                                             | CUSIP: 25160PAP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   7000000 | PA      | $7027979.91   | 0.50%             | 2029-01-10      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                           | Diamondback Energy, Inc.                                                     | CUSIP: 25278XAX7<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   3371000 | PA      | $3399854.14   | 0.24%             | 2027-04-18      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                              | Walt Disney Co. (The)                                                        | CUSIP: 254687GB6<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |  38900000 | PA      | $38804306.00  | 2.76%             | 2029-03-14      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| Eaton Corp.                                        | Eaton Corp.                                                                  | CUSIP: 278058DV1<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10429035.44  | 0.74%             | 2028-03-06      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| eBay, Inc.                                         | eBay, Inc.                                                                   | CUSIP: 278642AX1<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3497125.35   | 0.25%             | 2026-05-10      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                     | Element Fleet Management Corp.                                               | CUSIP: 286181AH5<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |   2820000 | PA      | $2823711.66   | 0.20%             | 2026-06-26      | Fixed         | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                        | Evergreen Credit Card Trust, Series 2024-1A, Class B                         | CUSIP: 30023JCM8<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   3400000 | PA      | $3407627.22   | 0.24%             | 2028-07-15      | Fixed         | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                        | Evergreen Credit Card Trust, Series 2024-CRT4, Class B                       | CUSIP: 30023JCS5<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   5000000 | PA      | $5018179.50   | 0.36%             | 2028-10-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Exelon Corp.                                       | Exelon Corp.                                                                 | CUSIP: 30161NBB6<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |  11500000 | PA      | $11363776.75  | 0.81%             | 2027-03-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust, Series 2025-2A, Class D                 | CUSIP: 30168JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1116849.03   | 0.08%             | 2031-07-15      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| FRESB 2022-SB94 Mortgage Trust                     | FRESB Mortgage Trust, Series 2022-SB94, Class A5F                            | CUSIP: 30324QAC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3730507 | PA      | $3676247.93   | 0.26%             | 2026-11-25      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | Federal National Mortgage Association Discount                               | CUSIP: 313589WF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | STIV             | USGA              | US        |  41000000 | PA      | $40995911.48  | 2.92%             | 2026-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bank NA                                | Fifth Third Bank NA                                                          | CUSIP: 31677QBV0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4900324.97   | 0.35%             | 2028-01-28      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                       | Fiserv, Inc.                                                                 | CUSIP: 337738AT5<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5689394.69   | 0.41%             | 2026-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| GATX Corp.                                         | GATX Corp.                                                                   | CUSIP: 361448AY9<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   8931000 | PA      | $8897708.80   | 0.63%             | 2026-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GE HealthCare Technologies, Inc.                   | GE HealthCare Technologies, Inc.                                             | CUSIP: 36266GAD9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1788333.57   | 0.13%             | 2028-12-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust              | GM Financial Automobile Leasing Trust, Series 2024-1, Class A3               | CUSIP: 36269FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     44126 | PA      | $44155.80     | 0.00%             | 2027-03-22      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                 | General Motors Financial Co., Inc.                                           | CUSIP: 37045XES1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2169000 | PA      | $2178527.83   | 0.16%             | 2027-05-08      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                 | General Motors Financial Co., Inc.                                           | CUSIP: 37045XFD3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7516027.50   | 0.54%             | 2030-01-07      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                  | Georgia Power Co.                                                            | CUSIP: 373334LC3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2881971.11   | 0.21%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Capital plc                        | GlaxoSmithKline Capital plc                                                  | CUSIP: 377373AN5<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |   8300000 | PA      | $8316043.90   | 0.59%             | 2027-03-12      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                               | Glencore Funding LLC                                                         | CUSIP: 378272BX5<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10013760.80  | 0.71%             | 2026-10-01      | Floating      | 4.40%                 | Yes           |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust, Series 2024-4, Class A2A | CUSIP: 38014AAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     38214 | PA      | $38225.41     | 0.00%             | 2027-10-18      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                          | HCA, Inc.                                                                    | CUSIP: 404119BT5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2276000 | PA      | $2277767.95   | 0.16%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                          | HCA, Inc.                                                                    | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1673914.77   | 0.12%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                  | HSBC Holdings plc                                                            | CUSIP: 404280BB4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $2999561.55   | 0.21%             | 2026-05-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                  | HSBC Holdings plc                                                            | CUSIP: 404280EK1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1800000 | PA      | $1807857.79   | 0.13%             | 2028-11-19      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                  | HSBC Holdings plc                                                            | CUSIP: 404280ET2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   5600000 | PA      | $5616453.86   | 0.40%             | 2029-03-03      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| HSBC USA, Inc.                                     | HSBC USA, Inc.                                                               | CUSIP: 40428HS29<br>LEI: 549300LBOHZ4QSIWU288 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4524476.27   | 0.32%             | 2028-06-03      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                     | Hewlett Packard Enterprise Co.                                               | CUSIP: 42824CBR9<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3775411.23   | 0.27%             | 2026-09-25      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                 | Honda Auto Receivables Owner Trust, Series 2023-3, Class A3                  | CUSIP: 43815QAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1668513 | PA      | $1676710.32   | 0.12%             | 2028-02-18      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Huntington National Bank (The)                     | Huntington National Bank (The)                                               | CUSIP: 44644MAK7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   4100000 | PA      | $4114327.29   | 0.29%             | 2028-04-12      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                      | CUSIP: 44891ACW5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1508212.79   | 0.11%             | 2027-01-08      | Floating      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                      | CUSIP: 44891ACZ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003466.86   | 0.07%             | 2027-03-19      | Floating      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                      | CUSIP: 44891ADA2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001733.07   | 0.07%             | 2026-06-24      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                      | CUSIP: 44891ADE4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5018655.45   | 0.36%             | 2027-06-24      | Floating      | 4.71%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                     | Hyundai Auto Receivables Trust, Series 2024-C, Class A2A                     | CUSIP: 448976AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    139506 | PA      | $139592.41    | 0.01%             | 2027-09-15      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                     | Hyundai Auto Receivables Trust, Series 2023-B, Class A3                      | CUSIP: 44933XAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1660386 | PA      | $1668239.83   | 0.12%             | 2028-04-17      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.              | International Business Machines Corp.                                        | CUSIP: 459200JZ5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6498085.49   | 0.46%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Intuit, Inc.                                       | Intuit, Inc.                                                                 | CUSIP: 46124HAE6<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |   4950000 | PA      | $4966261.49   | 0.35%             | 2026-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust, Series 2025-NQM1, Class A1                       | CUSIP: 46593QAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2868580 | PA      | $2882732.23   | 0.21%             | 2065-06-25      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                                         | CUSIP: 46647PCQ7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2502625.00   | 0.18%             | 2027-09-22      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                                         | CUSIP: 46647PET9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   9100000 | PA      | $9120163.96   | 0.65%             | 2029-01-24      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| John Deere Owner Trust                             | John Deere Owner Trust, Series 2024-C, Class A2A                             | CUSIP: 477911AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350228 | PA      | $350326.97    | 0.02%             | 2027-08-16      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                             | JPMorgan Chase Bank NA                                                       | CUSIP: 48125LRV6<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2007800.00   | 0.14%             | 2026-12-08      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                             | Keurig Dr Pepper, Inc.                                                       | CUSIP: 49271VAS9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2502807.73   | 0.18%             | 2027-03-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                             | Keurig Dr Pepper, Inc.                                                       | CUSIP: 49271VAY6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  10010000 | PA      | $10017507.50  | 0.71%             | 2026-11-15      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                              | Kraft Heinz Foods Co.                                                        | CUSIP: 50077LAD8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   8400000 | PA      | $8390095.98   | 0.60%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                          | Kubota Credit Owner Trust, Series 2025-1A, Class A2                          | CUSIP: 50117FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    847678 | PA      | $849817.82    | 0.06%             | 2027-12-15      | Fixed         | 4.61%                 | Yes           |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                 | LPL Holdings, Inc.                                                           | CUSIP: 50212YAN4<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2506687.33   | 0.18%             | 2028-04-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Lseg US Fin Corp.                                  | Lseg US Fin Corp.                                                            | CUSIP: 50222CAD2<br>LEI: 2138007FV67QQ13CGJ43 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4464721.89   | 0.32%             | 2029-03-23      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| L3Harris Technologies, Inc.                        | L3Harris Technologies, Inc.                                                  | CUSIP: 502431AL3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4191199.36   | 0.30%             | 2026-12-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Lennar Corp.                                       | Lennar Corp.                                                                 | CUSIP: 526057CT9<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6303346.43   | 0.45%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                    | Eli Lilly & Co.                                                              | CUSIP: 532457DA3<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   7100000 | PA      | $7118573.60   | 0.51%             | 2028-10-15      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                           | Lloyds Banking Group plc                                                     | CUSIP: 539439BB4<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   9000000 | PA      | $9044994.60   | 0.64%             | 2028-11-26      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd.                               | Macquarie Group Ltd.                                                         | CUSIP: 55607PAE5<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |   3000000 | PA      | $3005392.53   | 0.21%             | 2027-09-23      | Floating      | 4.59%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                          | CUSIP: 55608PBT0<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |   1290000 | PA      | $1305495.09   | 0.09%             | 2027-07-02      | Fixed         | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                          | CUSIP: 55608PBY9<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |  13000000 | PA      | $13054143.44  | 0.93%             | 2028-06-12      | Floating      | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                        | Marsh & McLennan Cos., Inc.                                                  | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   6905000 | PA      | $6911112.24   | 0.49%             | 2027-11-08      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Mastercard, Inc.                                   | Mastercard, Inc.                                                             | CUSIP: 57636QBE3<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |   6900000 | PA      | $6905037.00   | 0.49%             | 2028-03-15      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Receivables Trust               | Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A3                | CUSIP: 58769FAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1282352 | PA      | $1294377.04   | 0.09%             | 2028-11-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC            | Mercedes-Benz Finance North America LLC                                      | CUSIP: 58769JBK2<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   5400000 | PA      | $5400791.48   | 0.38%             | 2028-03-10      | Floating      | 4.39%                 | Yes           |                  2 | On Loan: No      |
| Merck & Co., Inc.                                  | Merck & Co., Inc.                                                            | CUSIP: 58933YBV6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |  27500000 | PA      | $27545567.50  | 1.96%             | 2029-03-15      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                       | Mondelez International, Inc.                                                 | CUSIP: 609207AM7<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1989571.46   | 0.14%             | 2028-05-07      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                             | Morgan Stanley Bank NA                                                       | CUSIP: 61690U8C7<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   8740000 | PA      | $8753957.78   | 0.62%             | 2028-05-26      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                               | CUSIP: 61747YFN0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4456000 | PA      | $4472219.84   | 0.32%             | 2028-04-13      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank NA                     | Morgan Stanley Private Bank NA                                               | CUSIP: 61776NU35<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9249628.50   | 0.66%             | 2030-02-08      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                | Medline Borrower LP                                                          | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3497624.64   | 0.25%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| NXP BV                                             | NXP BV                                                                       | CUSIP: 62954HBF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1695239.68   | 0.12%             | 2028-08-19      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                  | NTT Finance Corp.                                                            | CUSIP: 62954WAR6<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |   8000000 | PA      | $8055678.00   | 0.57%             | 2028-07-16      | Floating      | 4.74%                 | Yes           |                  2 | On Loan: No      |
| National Australia Bank Ltd.                       | National Australia Bank Ltd.                                                 | CUSIP: 632525CG4<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   3000000 | PA      | $3004140.00   | 0.21%             | 2028-03-06      | Floating      | 4.16%                 | Yes           |                  2 | On Loan: No      |
| National Australia Bank Ltd.                       | National Australia Bank Ltd.                                                 | CUSIP: 632525CN9<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   9700000 | PA      | $9706838.50   | 0.69%             | 2028-12-13      | Floating      | 4.19%                 | Yes           |                  2 | On Loan: No      |
| National Bank of Canada                            | National Bank of Canada                                                      | CUSIP: 63307A2Z7<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   6260000 | PA      | $6266185.69   | 0.45%             | 2027-07-02      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| NatWest Markets plc                                | NatWest Markets plc                                                          | CUSIP: 63906YAK4<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |  10250000 | PA      | $10297627.45  | 0.73%             | 2027-05-17      | Floating      | 4.59%                 | Yes           |                  2 | On Loan: No      |
| Navient Private Education Refi Loan Trust          | Navient Private Education Refi Loan Trust, Series 2020-IA, Class A1A         | CUSIP: 63942AAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    633411 | PA      | $581246.62    | 0.04%             | 2069-04-15      | Fixed         | 1.33%                 | Yes           |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority     | New Jersey Transportation Trust Fund Authority, Series 2024BB                | CUSIP: 64613CEZ7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2875000 | PA      | $2876925.10   | 0.20%             | 2026-06-15      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.              | NextEra Energy Capital Holdings, Inc.                                        | CUSIP: 65339KDH0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   6700000 | PA      | $6726694.88   | 0.48%             | 2028-02-04      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                    | Nordea Bank Abp                                                              | CUSIP: 65558RAM1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   7700000 | PA      | $7729098.53   | 0.55%             | 2028-03-17      | Floating      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Novartis Capital Corp.                             | Novartis Capital Corp.                                                       | CUSIP: 66989HBG2<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4992637.10   | 0.36%             | 2031-03-18      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd.                                       | Nutrien Ltd.                                                                 | CUSIP: 67077MBE7<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |   3300000 | PA      | $3309429.32   | 0.24%             | 2027-03-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                          | OBX Trust, Series 2024-NQM11, Class A1                                       | CUSIP: 67119EAA4<br>LEI: 254900F5LT8CA1U6PK21 | Long             | ABS-MBS          | CORP              | US        |   2866519 | PA      | $2888653.52   | 0.21%             | 2064-06-25      | Variable      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                          | OBX Trust, Series 2024-NQM16, Class A1                                       | CUSIP: 67120GAA6<br>LEI: 254900AIRPH5Q5COT575 | Long             | ABS-MBS          | CORP              | US        |   1516757 | PA      | $1526869.66   | 0.11%             | 2064-10-25      | Variable      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                       | Oracle Corp.                                                                 | CUSIP: 68389XCX1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   9400000 | PA      | $9228558.95   | 0.66%             | 2028-08-03      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Orange SA                                          | Orange SA                                                                    | CUSIP: 685218AH2<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |   3000000 | PA      | $2974194.24   | 0.21%             | 2029-01-13      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| PK ALIFT Loan Funding 7 LP                         | PK ALIFT Loan Funding 7 LP, Series 2025-2, Class A                           | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4291069 | PA      | $4244502.27   | 0.30%             | 2043-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)           | PNC Financial Services Group, Inc. (The)                                     | CUSIP: 693475CH6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8493591.00   | 0.60%             | 2029-01-26      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                        | PNC Bank NA                                                                  | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7500724.43   | 0.53%             | 2027-05-13      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                        | PNC Bank NA                                                                  | CUSIP: 69353RGA0<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   7750000 | PA      | $7755890.00   | 0.55%             | 2028-07-21      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Pagaya Ai Debt Grantor Trust                       | Pagaya Ai Debt Grantor Trust, Series 2025-6, Class A2                        | CUSIP: 69549BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1099899 | PA      | $1097018.11   | 0.08%             | 2033-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Pagaya Ai Debt Grantor Trust                       | Pagaya Ai Debt Grantor Trust, Series 2025-6, Class B                         | CUSIP: 69549BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3199705 | PA      | $3182705.70   | 0.23%             | 2033-04-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Pagaya Ai Debt Grantor Trust                       | Pagaya Ai Debt Grantor Trust, Series 2025-6, Class C                         | CUSIP: 69549BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1099899 | PA      | $1094781.02   | 0.08%             | 2033-04-15      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                              | PayPal Holdings, Inc.                                                        | CUSIP: 70450YAR4<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   4700000 | PA      | $4707768.44   | 0.34%             | 2028-03-06      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| Pepsico Singapore Financing I Pte. Ltd.            | Pepsico Singapore Financing I Pte. Ltd.                                      | CUSIP: 713466AE0<br>LEI: 254900DOMTCMUFROFJ76 | Long             | DBT              | CORP              | SG        |  12200000 | PA      | $12233513.40  | 0.87%             | 2027-02-16      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                       | Pfizer, Inc.                                                                 | CUSIP: 717081FC2<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5514685.00   | 0.39%             | 2027-11-15      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                   | Provident Funding Mortgage Trust, Series 2025-2, Class A4                    | CUSIP: 74389DAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4053587 | PA      | $4053373.85   | 0.29%             | 2055-06-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PRPM Trust                                         | PRPM Trust, Series 2025-NQM1, Class A3                                       | CUSIP: 74391EAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1415220 | PA      | $1423324.44   | 0.10%             | 2069-11-25      | Variable      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| Public Storage Operating Co.                       | Public Storage Operating Co.                                                 | CUSIP: 74464AAA9<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |   4180000 | PA      | $4187252.30   | 0.30%             | 2027-04-16      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust           | Research-Driven Pagaya Motor Asset Trust, Series 2026-2A, Class B            | CUSIP: 76091HAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4100000 | PA      | $4062810.95   | 0.29%             | 2035-02-26      | Fixed         | 5.82%                 | Yes           |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust           | Research-Driven Pagaya Motor Asset Trust, Series 2026-1A, Class A3           | CUSIP: 76100KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4140000 | PA      | $4116773.36   | 0.29%             | 2035-01-25      | Fixed         | 4.86%                 | Yes           |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                          | Rio Tinto Finance USA plc                                                    | CUSIP: 76720AAY2<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   8000000 | PA      | $8027554.08   | 0.57%             | 2028-03-14      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                       | Royal Caribbean Cruises Ltd.                                                 | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   3000000 | PA      | $3122725.26   | 0.22%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                               | Royal Bank of Canada                                                         | CUSIP: 78016EYD3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   7200000 | PA      | $7209322.63   | 0.51%             | 2026-11-02      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                               | Royal Bank of Canada                                                         | CUSIP: 78017DAB4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $5010984.90   | 0.36%             | 2029-01-24      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                               | Royal Bank of Canada                                                         | CUSIP: 78017DAE8<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $5001931.55   | 0.36%             | 2026-08-03      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| Ryder System, Inc.                                 | Ryder System, Inc.                                                           | CUSIP: 78355HKS7<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3570430.68   | 0.25%             | 2026-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Salesforce, Inc.                                   | Salesforce, Inc.                                                             | CUSIP: 79466LAQ7<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |   9200000 | PA      | $9208638.89   | 0.66%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sanofi SA                                          | Sanofi SA                                                                    | CUSIP: 801060AF1<br>LEI: 549300E9PC51EN656011 | Long             | DBT              | CORP              | FR        |  12500000 | PA      | $12535066.13  | 0.89%             | 2027-11-03      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| Sanofi SA                                          | Sanofi SA                                                                    | CUSIP: 801060AH7<br>LEI: 549300E9PC51EN656011 | Long             | DBT              | CORP              | FR        |  16700000 | PA      | $16735303.80  | 1.19%             | 2028-11-03      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                    | Santander UK Group Holdings plc                                              | CUSIP: 80281LAX3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   3200000 | PA      | $3175204.90   | 0.23%             | 2029-09-22      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                       | Santander Holdings USA, Inc.                                                 | CUSIP: 80282KBK1<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3253973.74   | 0.23%             | 2027-05-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                       | Santander Holdings USA, Inc.                                                 | CUSIP: 80282KBP0<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7070239.26   | 0.50%             | 2029-03-20      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust             | Santander Drive Auto Receivables Trust, Series 2025-2, Class A2              | CUSIP: 80287NAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2198923 | PA      | $2200241.14   | 0.16%             | 2028-06-15      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust             | Santander Drive Auto Receivables Trust, Series 2026-1, Class A3              | CUSIP: 80288FAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5200000 | PA      | $5172069.24   | 0.37%             | 2030-07-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust             | Santander Drive Auto Receivables Trust, Series 2024-4, Class D               | CUSIP: 802919AF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4920000 | PA      | $4957846.61   | 0.35%             | 2031-12-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust          | Santander Mortgage Asset Receivable Trust, Series 2026-NQM3, Class A1FC      | CUSIP: 802929AA7<br>LEI: 2549005ZY4JF8SF73087 | Long             | ABS-MBS          | CORP              | US        |   2686908 | PA      | $2683775.37   | 0.19%             | 2066-03-25      | Variable      | 5.09%                 | Yes           |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust          | Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1A       | CUSIP: 802932AA1<br>LEI: 25490018SHMEBF8BBD83 | Long             | ABS-O            | CORP              | US        |   3884443 | PA      | $3855489.58   | 0.27%             | 2056-01-25      | Variable      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                              | Saudi Arabian Oil Co.                                                        | CUSIP: 80415RAB7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |   2670000 | PA      | $2631097.03   | 0.19%             | 2029-02-02      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Schlumberger Holdings Corp.                        | Schlumberger Holdings Corp.                                                  | CUSIP: 806851AL5<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    641000 | PA      | $646141.12    | 0.05%             | 2027-05-29      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                         | Charles Schwab Corp. (The)                                                   | CUSIP: 808513BQ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000094.00   | 0.07%             | 2026-05-13      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                         | Charles Schwab Corp. (The)                                                   | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6530615.00   | 0.47%             | 2027-03-03      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                   | Skandinaviska Enskilda Banken AB                                             | CUSIP: 830505BA0<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |   3000000 | PA      | $3011584.11   | 0.21%             | 2027-03-05      | Floating      | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                   | Skandinaviska Enskilda Banken AB                                             | CUSIP: 830505BP7<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |   3300000 | PA      | $3298266.84   | 0.23%             | 2029-03-12      | Floating      | 4.34%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                | Societe Generale SA                                                          | CUSIP: 83368RCB6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1900000 | PA      | $1909745.63   | 0.14%             | 2029-04-13      | Floating      | 5.08%                 | Yes           |                  2 | On Loan: No      |
| Starbucks Corp.                                    | Starbucks Corp.                                                              | CUSIP: 855244BN8<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   3170000 | PA      | $3179796.89   | 0.23%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                      | State Street Bank & Trust Co.                                                | CUSIP: 857449AD4<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2613549.60   | 0.19%             | 2026-11-25      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                 | State Street Corp.                                                           | CUSIP: 857477CE1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10012213.20  | 0.71%             | 2026-08-03      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                 | State Street Corp.                                                           | CUSIP: 857477CP6<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   7040000 | PA      | $7056387.71   | 0.50%             | 2027-10-22      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Stryker Corp.                                      | Stryker Corp.                                                                | CUSIP: 863667BJ9<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6324725.04   | 0.45%             | 2027-02-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.              | Sumitomo Mitsui Financial Group, Inc.                                        | CUSIP: 86562MCL2<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   1480000 | PA      | $1484791.83   | 0.11%             | 2027-01-14      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.              | Sumitomo Mitsui Financial Group, Inc.                                        | CUSIP: 86562MDA5<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   7100000 | PA      | $7124724.83   | 0.51%             | 2026-07-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.              | Sumitomo Mitsui Financial Group, Inc.                                        | CUSIP: 86562MDL1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   1500000 | PA      | $1514856.14   | 0.11%             | 2029-07-09      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                    | Sumitomo Mitsui Trust Bank Ltd.                                              | CUSIP: 86563VCG2<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   7100000 | PA      | $7014982.47   | 0.50%             | 2029-03-05      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                    | Sumitomo Mitsui Trust Bank Ltd.                                              | CUSIP: 86563VCH0<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   3500000 | PA      | $3500570.99   | 0.25%             | 2029-03-05      | Floating      | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Swedbank AB                                        | Swedbank AB                                                                  | CUSIP: 870195AD6<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   2800000 | PA      | $2829738.52   | 0.20%             | 2029-11-20      | Floating      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Swedbank AB                                        | Swedbank AB                                                                  | CUSIP: 87020PAV9<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   5500000 | PA      | $5508765.35   | 0.39%             | 2026-06-15      | Fixed         | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Synopsys, Inc.                                     | Synopsys, Inc.                                                               | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   7800000 | PA      | $7829288.61   | 0.56%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Sysco Corp.                                        | Sysco Corp.                                                                  | CUSIP: 871829BC0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2994472.98   | 0.21%             | 2026-07-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Sysco Corp.                                        | Sysco Corp.                                                                  | CUSIP: 871829BF3<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   5370000 | PA      | $5291481.69   | 0.38%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                        | Toronto-Dominion Bank (The)                                                  | CUSIP: 89114TZH8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2001954.00   | 0.14%             | 2026-09-10      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                        | Toronto-Dominion Bank (The)                                                  | CUSIP: 89115A3A8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $5015240.65   | 0.36%             | 2026-12-17      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                | Toyota Auto Receivables Owner Trust, Series 2023-C, Class A3                 | CUSIP: 89231FAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2108313 | PA      | $2117359.96   | 0.15%             | 2028-04-17      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                          | Toyota Motor Credit Corp.                                                    | CUSIP: 89236TMZ5<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14013644.54  | 1.00%             | 2027-01-08      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                          | Toyota Motor Credit Corp., Series B                                          | CUSIP: 89236TPG4<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7293529.86   | 0.52%             | 2028-01-12      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                      | Trillium Credit Card Trust II, Series 2025-1A, Class B                       | CUSIP: 89621ACD9<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | CA        |   2300000 | PA      | $2295621.49   | 0.16%             | 2030-09-26      | Fixed         | 4.41%                 | Yes           |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                      | Trillium Credit Card Trust II, Series 2026-1A, Class A                       | CUSIP: 89621ACF4<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | CA        |   3700000 | PA      | $3699976.32   | 0.26%             | 2031-03-26      | Floating      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                      | Trillium Credit Card Trust II, Series 2026-1A, Class B                       | CUSIP: 89621ACG2<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | CA        |   3700000 | PA      | $3695476.01   | 0.26%             | 2031-03-26      | Fixed         | 4.61%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                        | Truist Bank                                                                  | CUSIP: 89788JAG4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12010718.40  | 0.86%             | 2028-07-24      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                        | Truist Bank                                                                  | CUSIP: 89788JAH2<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4956609.90   | 0.35%             | 2029-10-23      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                        | Truist Bank                                                                  | CUSIP: 89788JAK5<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17991360.00  | 1.28%             | 2029-01-27      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| UBS AG                                             | UBS AG                                                                       | CUSIP: 90261AAG7<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |   4500000 | PA      | $4495474.40   | 0.32%             | 2029-03-16      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                         | US Bancorp, Series X                                                         | CUSIP: 91159HHR4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   3377000 | PA      | $3348205.77   | 0.24%             | 2027-04-27      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Bills                                                          | CUSIP: 912797RF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   5295000 | PA      | $5258423.89   | 0.37%             | 2026-07-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                          | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1001622.66   | 0.07%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                          | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4250000 | PA      | $4244023.44   | 0.30%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                          | CUSIP: 91282CLQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8000000 | PA      | $8000000.00   | 0.57%             | 2027-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                           | UnitedHealth Group, Inc.                                                     | CUSIP: 91324PFE7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   9387000 | PA      | $9392132.72   | 0.67%             | 2026-07-15      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                           | UnitedHealth Group, Inc.                                                     | CUSIP: 91324PFN7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3009730.11   | 0.21%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                       | Verizon Communications, Inc.                                                 | CUSIP: 92343VER1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   7800000 | PA      | $7806079.71   | 0.56%             | 2028-09-21      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                               | Verizon Master Trust, Series 2023-4, Class A1A                               | CUSIP: 92348KBS1<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   3410000 | PA      | $3415782.68   | 0.24%             | 2029-06-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                               | Verizon Master Trust, Series 2023-4, Class C                                 | CUSIP: 92348KBV4<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4507983.90   | 0.32%             | 2029-06-20      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                               | Verizon Master Trust, Series 2024-4, Class B                                 | CUSIP: 92348KCW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3006756.90   | 0.21%             | 2029-06-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| VMware LLC                                         | VMware LLC                                                                   | CUSIP: 928563AJ4<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   9495000 | PA      | $9422028.46   | 0.67%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Walmart, Inc.                                      | Walmart, Inc.                                                                | CUSIP: 931142FM0<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6511731.27   | 0.46%             | 2027-04-28      | Floating      | 4.09%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                            | CUSIP: 949746SH5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4974743.05   | 0.35%             | 2026-10-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                            | CUSIP: 95000U3S0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8010504.00   | 0.57%             | 2028-01-24      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                              | Westpac Banking Corp.                                                        | CUSIP: 961214ES8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $500135.77    | 0.04%             | 2026-06-03      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                              | Westpac Banking Corp.                                                        | CUSIP: 961214GD9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    930000 | PA      | $938610.18    | 0.07%             | 2030-07-01      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                       | Zimmer Biomet Holdings, Inc.                                                 | CUSIP: 98956PBA9<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |   3906000 | PA      | $3921710.52   | 0.28%             | 2027-02-19      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

**Name of Applicant:** FlexShares Trust

**Signature:** Randal Rein

**Name of Signer:** Randal Rein

**Title:** Treasurer and PFO