# EDGAR Filing Document

**Accession Number:** 0001547576
**File Stem:** 0002048251-25-002496
**Filing Date:** 2025-11
**Character Count:** 71574
**Document Hash:** af3bd7e5207d5c69b9c21f6a65e11353
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-002496.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002048251-25-002496

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Krane Shares Trust
- **CENTRAL INDEX KEY:** 0001547576

**ORGANIZATION NAME:**
- **EIN:** 456861457
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22698
- **FILM NUMBER:** 251526880

**BUSINESS ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-933-0393

**MAIL ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### KraneShares Sustainable Ultra Short Duration Index ETF (Series ID: S000085834)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000251229 | KraneShares Sustainable Ultra Short Duration Index ETF | KCSH            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Krane Shares Trust

- **b. Investment Company Act file number:** 811-22698

- **c. CIK number of Registrant:** 0001547576

- **d. LEI of Registrant:** 2549008E1DI99JHCCA80

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

  - **Street Address 1:** 280 Park Ave

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 2129330393

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

- **a. Name of Series:** KraneShares Sustainable Ultra Short Duration Index ETF

- **b. EDGAR series identifier (if any):** S000085834

- **c. LEI of Series:** 254900ETVPOTUID3BZ55

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $237166425.83

**Total Liabilities:** $38285.72

**Net Assets:** $237128140.11

**Cash Not Reported:** $11008942.16

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -5842.78222812 | **1-Year:** -4169.22315351 | **5-Year:** -26.23005886 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251229 | 0.41%                | 0.41%                | 0.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $652.67                  | $125222.60                                 |
| Month 2  | $-144.47                 | $165089.91                                 |
| Month 3  | $0.00                    | $-85489.51                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WELLS FARGO & COMPANY                                             | WELLS FARGO & CO 3.000000% 04/22/2026                                   | CUSIP: 949746RW3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1988417.52   | 0.84%             | 2026-04-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JACKSON NATIONAL LIFE GLOBAL FUNDING                              | JACKSON NATIONAL LIFE GLOBAL FUNDING 5.500000% 01/09/2026               | CUSIP: 46849MCF4<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | NUSS              | US        |    850000 | PA      | $852054.12    | 0.36%             | 2026-01-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                             | SUMITOMO MITSUI FINANCIAL GROUP INC 2.632000% 07/14/2026                | CUSIP: 86562MAF7<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | NUSS              | JP        |   2000000 | PA      | $1978039.44   | 0.83%             | 2026-07-14      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION                                    | CHARLES SCHWAB CORP/THE VARIABLE RATE 05/13/2026                        | CUSIP: 808513BQ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001163.78   | 0.42%             | 2026-05-13      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON COMPANY                                       | COMMONWEALTH EDISON CO 2.550000% 06/15/2026                             | CUSIP: 202795JH4<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2028503.80   | 0.86%             | 2026-06-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                                       | WESTPAC BANKING CORP 2.850000% 05/13/2026                               | CUSIP: 961214CX9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | NUSS              | AU        |   1500000 | PA      | $1489479.42   | 0.63%             | 2026-05-13      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SCENTRE GROUP TRUST 1                                             | SCENTRE GROUP TRUST 1 / SCENTRE GROUP TRUST 2 3.625000% 01/28/2026      | CUSIP: Q8352BAD6<br>LEI: 549300SQ859FBKRKSI77 | Long             | DBT              | NUSS              | AU        |   1200000 | PA      | $1197145.67   | 0.50%             | 2026-01-28      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP, L.P.                                        | SIMON PROPERTY GROUP LP 3.300000% 01/15/2026                            | CUSIP: 828807CW5<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997005.75    | 0.42%             | 2026-01-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORPORATION                                    | JOHN DEERE CAPITAL CORP MTN 5.050000% 03/03/2026                        | CUSIP: 24422EWT2<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1204844.57   | 0.51%             | 2026-03-03      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                                   | UNITEDHEALTH GROUP INC 1.150000% 05/15/2026                             | CUSIP: 91324PEC2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $981990.85    | 0.41%             | 2026-05-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| STRYKER CORPORATION                                               | STRYKER CORP 3.375000% 11/01/2025                                       | CUSIP: 863667AH4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998852.66    | 0.42%             | 2025-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| U.S. BANCORP                                                      | US BANCORP MTN 3.100000% 04/27/2026                                     | CUSIP: 91159HHM5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994568.44    | 0.42%             | 2026-04-27      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| INTEL CORPORATION                                                 | INTEL CORP 2.600000% 05/19/2026                                         | CUSIP: 458140AU4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1980205.82   | 0.84%             | 2026-05-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER, INC.                                      | STANLEY BLACK & DECKER INC 3.400000% 03/01/2026                         | CUSIP: 854502AK7<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1493982.69   | 0.63%             | 2026-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                           | ROYAL BANK OF CANADA MTN 0.875000% 01/20/2026                           | CUSIP: 78016EZM2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |   1000000 | PA      | $989540.44    | 0.42%             | 2026-01-20      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                           | ROYAL BANK OF CANADA MTN 1.200000% 04/27/2026                           | CUSIP: 78016EZQ3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |   2000000 | PA      | $1968648.48   | 0.83%             | 2026-04-27      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                                     | GOLDMAN SACHS GROUP INC/THE 3.750000% 02/25/2026                        | CUSIP: 38143U8H7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1746665.46   | 0.74%             | 2026-02-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BANQUE CANADIENNE IMPERIALE DE COMMERCE                           | CANADIAN IMPERIAL BANK OF COMMERCE 0.950000% 10/23/2025                 | CUSIP: 13607GRR7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | NUSS              | CA        |   1000000 | PA      | $997892.48    | 0.42%             | 2025-10-23      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL, LLC                                               | BMW US CAPITAL LLC 2.800000% 04/11/2026                                 | CUSIP: U09513GM5<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | NUSS              | DE        |   1950000 | PA      | $1937198.19   | 0.82%             | 2026-04-11      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| KELLANOVA                                                         | KELLANOVA 3.250000% 04/01/2026                                          | CUSIP: 487836BP2<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |    800000 | PA      | $796067.56    | 0.34%             | 2026-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                             | SUMITOMO MITSUI FINANCIAL GROUP INC 1.402000% 09/17/2026                | CUSIP: 86562MCH1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | NUSS              | JP        |    750000 | PA      | $731811.11    | 0.31%             | 2026-09-17      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORPORATION                                          | STATE STREET CORP 2.650000% 05/19/2026                                  | CUSIP: 857477AW3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1983227.34   | 0.84%             | 2026-05-19      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.                            | PNC FINANCIAL SERVICES GROUP INC/THE 5.102000% 07/23/2027               | CUSIP: 693475BY0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503399.58    | 0.21%             | 2027-07-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORPORATION                                   | TOYOTA MOTOR CREDIT CORP MTN 4.550000% 08/07/2026                       | CUSIP: 89236TMJ1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1256746.56   | 0.53%             | 2026-08-07      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG NEW YORK BRANCH                                  | DEUTSCHE BANK AG/NEW YORK NY 7.146000% 07/13/2027                       | CUSIP: 25160PAN7<br>LEI: N/A                  | Long             | DBT              | NUSS              | DE        |    500000 | PA      | $510736.96    | 0.22%             | 2027-07-13      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| TRANSURBAN FINANCE COMPANY PTY LTD                                | TRANSURBAN FINANCE CO PTY LTD 4.125000% 02/02/2026                      | CUSIP: Q9194UAG7<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | NUSS              | AU        |    500000 | PA      | $499466.66    | 0.21%             | 2026-02-02      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| EBAY INC.                                                         | EBAY INC 1.400000% 05/10/2026                                           | CUSIP: 278642AX1<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $984068.03    | 0.41%             | 2026-05-10      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| U.S. BANCORP                                                      | US BANCORP MTN 3.950000% 11/17/2025                                     | CUSIP: 91159HHU7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1498962.44   | 0.63%             | 2025-11-17      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION                                    | CHARLES SCHWAB CORP/THE 0.900000% 03/11/2026                            | CUSIP: 808513BF1<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    596000 | PA      | $587629.85    | 0.25%             | 2026-03-11      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORPORATION                                   | TOYOTA MOTOR CREDIT CORP MTN 0.800000% 10/16/2025                       | CUSIP: 89236THP3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499289.90    | 0.21%             | 2025-10-16      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| THE CIGNA GROUP                                                   | CIGNA GROUP/THE 4.500000% 02/25/2026                                    | CUSIP: 125523BZ2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1749834.43   | 0.74%             | 2026-02-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INTEL CORPORATION                                                 | INTEL CORP 4.875000% 02/10/2026                                         | CUSIP: 458140CD0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    850000 | PA      | $851723.90    | 0.36%             | 2026-02-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TWDC ENTERPRISES 18 CORP.                                         | TWDC ENTERPRISES 18 CORP 3.000000% 02/13/2026                           | CUSIP: 25468PDK9<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995818.66    | 0.42%             | 2026-02-13      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                          | AMERICAN EXPRESS CO 3.125000% 05/20/2026                                | CUSIP: 025816CF4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994384.27    | 0.42%             | 2026-05-20      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                                       | VERIZON COMMUNICATIONS INC 0.850000% 11/20/2025                         | CUSIP: 92343VFS8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497703.27    | 0.21%             | 2025-11-20      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG NEW YORK BRANCH                                  | DEUTSCHE BANK AG/NEW YORK NY 1.686000% 03/19/2026                       | CUSIP: 25160PAF4<br>LEI: N/A                  | Long             | DBT              | NUSS              | DE        |   1500000 | PA      | $1482812.64   | 0.63%             | 2026-03-19      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                                        | TORONTO-DOMINION BANK/THE MTN 0.750000% 01/06/2026                      | CUSIP: 89114QCP1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | NUSS              | CA        |   1000000 | PA      | $990853.82    | 0.42%             | 2026-01-06      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Pepsico, Inc.                                                     | PEPSICO INC 2.850000% 02/24/2026                                        | CUSIP: 713448DF2<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    753000 | PA      | $749496.52    | 0.32%             | 2026-02-24      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORPORATION                                             | MICROSOFT CORP 2.400000% 08/08/2026                                     | CUSIP: 594918BR4<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    750000 | PA      | $741071.88    | 0.31%             | 2026-08-08      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| MANUFACTURERS AND TRADERS TRUST COMPANY                           | MANUFACTURERS & TRADERS TRUST CO 5.400000% 11/21/2025                   | CUSIP: 55279HAT7<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500299.36    | 0.21%             | 2025-11-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA, INC.                                                | T-MOBILE USA INC 2.250000% 02/15/2026                                   | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992129.85    | 0.42%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                              | JPMORGAN CHASE & CO 3.200000% 06/15/2026                                | CUSIP: 46625HRS1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497145.10    | 0.21%             | 2026-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation                           | BANK OF NEW YORK MELLON CORP/THE MTN 2.450000% 08/17/2026               | CUSIP: 06406FAE3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740474.89    | 0.31%             | 2026-08-17      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Citibank National Association                                     | CITIBANK NA 5.438000% 04/30/2026                                        | CUSIP: 17325FBF4<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3272013.52   | 1.38%             | 2026-04-30      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| FORTINET, INC.                                                    | FORTINET INC 1.000000% 03/15/2026                                       | CUSIP: 34959EAA7<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1967915.98   | 0.83%             | 2026-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                                       | VERIZON COMMUNICATIONS INC 1.450000% 03/20/2026                         | CUSIP: 92343VGG3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988051.31    | 0.42%             | 2026-03-20      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS, INC.                                               | CISCO SYSTEMS INC 4.900000% 02/26/2026                                  | CUSIP: 17275RBP6<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |   1874000 | PA      | $1879532.20   | 0.79%             | 2026-02-26      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC.                                                    | CITIGROUP INC 3.700000% 01/12/2026                                      | CUSIP: 172967KG5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998218.38    | 0.42%             | 2026-01-12      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| APPLE INC.                                                        | APPLE INC 3.250000% 02/23/2026                                          | CUSIP: 037833BY5<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2292810.68   | 0.97%             | 2026-02-23      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                                        | TORONTO-DOMINION BANK/THE MTN 5.532000% 07/17/2026                      | CUSIP: 89115A2S0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | NUSS              | CA        |    900000 | PA      | $909949.82    | 0.38%             | 2026-07-17      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                                       | WESTPAC BANKING CORP 5.512000% 11/17/2025                               | CUSIP: 961214FL2<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | NUSS              | AU        |    700000 | PA      | $701008.91    | 0.30%             | 2025-11-17      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                           | BANK OF NOVA SCOTIA/THE 4.750000% 02/02/2026                            | CUSIP: 06417XAN1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | NUSS              | CA        |   2500000 | PA      | $2504769.73   | 1.06%             | 2026-02-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHUBB INA HOLDINGS LLC                                            | CHUBB INA HOLDINGS LLC 3.350000% 05/03/2026                             | CUSIP: 00440EAV9<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995850.16    | 0.42%             | 2026-05-03      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| MANUFACTURERS AND TRADERS TRUST COMPANY                           | MANUFACTURERS & TRADERS TRUST CO 4.650000% 01/27/2026                   | CUSIP: 55279HAV2<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $4053273.90   | 1.71%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION                                    | CHARLES SCHWAB CORP/THE 1.150000% 05/13/2026                            | CUSIP: 808513BR5<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982611.89    | 0.41%             | 2026-05-13      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                           | ROYAL BANK OF CANADA MTN 5.069000% 07/23/2027                           | CUSIP: 78016HZX1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |    500000 | PA      | $503762.19    | 0.21%             | 2027-07-23      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                           | ROYAL BANK OF CANADA MTN 1.150000% 07/14/2026                           | CUSIP: 78016EZT7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |   1000000 | PA      | $978201.64    | 0.41%             | 2026-07-14      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                                     | BROADCOM INC 3.150000% 11/15/2025                                       | CUSIP: 11135FBB6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    800000 | PA      | $798764.45    | 0.34%             | 2025-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| LSEGA FINANCING PLC                                               | LSEGA FINANCING PLC 1.375000% 04/06/2026                                | CUSIP: G5690PAB7<br>LEI: 2138009YFYTGEHZNNZ09 | Long             | DBT              | NUSS              | GB        |   2250000 | PA      | $2217866.85   | 0.94%             | 2026-04-06      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORPORATION                                   | TOYOTA MOTOR CREDIT CORP MTN 5.000000% 08/14/2026                       | CUSIP: 89236TKX2<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    750000 | PA      | $756670.74    | 0.32%             | 2026-08-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.                            | PNC FINANCIAL SERVICES GROUP INC/THE 2.600000% 07/23/2026               | CUSIP: 693475AX3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1730397.94   | 0.73%             | 2026-07-23      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                    | MORGAN STANLEY MTN 5.000000% 11/24/2025                                 | CUSIP: 6174467X1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000731.00   | 0.42%             | 2025-11-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                             | BANK OF AMERICA NA 5.526000% 08/18/2026                                 | CUSIP: 06428CAA2<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506035.92    | 0.21%             | 2026-08-18      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT, INC.                                            | WASTE MANAGEMENT INC 0.750000% 11/15/2025                               | CUSIP: 94106LBL2<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1989886.00   | 0.84%             | 2025-11-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| DELL INTERNATIONAL L.L.C.                                         | DELL INTERNATIONAL LLC / EMC CORP 6.020000% 06/15/2026                  | CUSIP: 24703TAD8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3024778.74   | 1.28%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                 | HSBC HOLDINGS PLC 4.300000% 03/08/2026                                  | CUSIP: 404280AW9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | NUSS              | GB        |   3250000 | PA      | $3251395.32   | 1.37%             | 2026-03-08      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                      | BARCLAYS PLC 4.375000% 01/12/2026                                       | CUSIP: 06738EAN5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | NUSS              | GB        |   1750000 | PA      | $1750011.46   | 0.74%             | 2026-01-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| APPLE INC.                                                        | APPLE INC 0.700000% 02/08/2026                                          | CUSIP: 037833EB2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1977019.18   | 0.83%             | 2026-02-08      | Fixed         | 0.70%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORPORATION                                              | MCKESSON CORP 0.900000% 12/03/2025                                      | CUSIP: 581557BQ7<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |   1383000 | PA      | $1374780.02   | 0.58%             | 2025-12-03      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| ASB BANK LIMITED                                                  | ASB BANK LTD 5.346000% 06/15/2026                                       | CUSIP: 00216NAG4<br>LEI: 549300IBZWZL1KTPF918 | Long             | DBT              | NUSS              | NZ        |   3500000 | PA      | $3529859.80   | 1.49%             | 2026-06-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COMPANIES, INC.                                  | MARSH & MCLENNAN COS INC 3.750000% 03/14/2026                           | CUSIP: 571748AZ5<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995407.46   | 0.84%             | 2026-03-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AON GLOBAL LIMITED.                                               | AON GLOBAL LTD 3.875000% 12/15/2025                                     | CUSIP: 00185AAK0<br>LEI: VVT2B79I2Z4U3R6BY589 | Long             | DBT              | NUSS              | US        |   2000000 | PA      | $1997254.54   | 0.84%             | 2025-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| APPLIED MATERIALS, INC.                                           | APPLIED MATERIALS INC 3.900000% 10/01/2025                              | CUSIP: 038222AJ4<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500000.00    | 0.21%             | 2025-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| THE CIGNA GROUP                                                   | CIGNA GROUP/THE 4.125000% 11/15/2025                                    | CUSIP: 125523AG5<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1499150.67   | 0.63%             | 2025-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PNC Bank, National Association (Delaware)                         | PNC BANK NA 4.200000% 11/01/2025                                        | CUSIP: 69349LAQ1<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749648.04    | 0.32%             | 2025-11-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS, INC.                                      | ZIMMER BIOMET HOLDINGS INC 3.050000% 01/15/2026                         | CUSIP: 98956PAS1<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995880.19    | 0.42%             | 2026-01-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Pepsico, Inc.                                                     | PEPSICO INC 4.550000% 02/13/2026                                        | CUSIP: 713448FQ6<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1501523.84   | 0.63%             | 2026-02-13      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                             | NOMURA HOLDINGS INC 5.709000% 01/09/2026                                | CUSIP: 65535HBG3<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | NUSS              | JP        |   1000000 | PA      | $1003813.23   | 0.42%             | 2026-01-09      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                          | LLOYDS BANKING GROUP PLC 5.985000% 08/07/2027                           | CUSIP: 539439AY5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | NUSS              | GB        |    500000 | PA      | $507140.63    | 0.21%             | 2027-08-07      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| COMCAST CORPORATION                                               | COMCAST CORP 3.150000% 03/01/2026                                       | CUSIP: 20030NBS9<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   2528000 | PA      | $2517908.45   | 1.06%             | 2026-03-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                          | AMERICAN EXPRESS CO 4.900000% 02/13/2026                                | CUSIP: 025816DC0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2205241.19   | 0.93%             | 2026-02-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORPORATION                                             | AIR LEASE CORP MTN 5.300000% 06/25/2026                                 | CUSIP: 00914AAW2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    650000 | PA      | $654311.91    | 0.28%             | 2026-06-25      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORPORATION                                         | REALTY INCOME CORP 4.875000% 06/01/2026                                 | CUSIP: 756109BF0<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3009670.83   | 1.27%             | 2026-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VISA INC.                                                         | VISA INC 3.150000% 12/14/2025                                           | CUSIP: 92826CAD4<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |   1674000 | PA      | $1670982.16   | 0.70%             | 2025-12-14      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORPORATION                                   | TOYOTA MOTOR CREDIT CORP MTN 4.050000% 10/24/2025                       | CUSIP: N/A<br>LEI: Z2VZBHUMB7PWWJ63I008       | Long             | DBT              | NUSS              | US        |   1000000 | PA      | $999510.00    | 0.42%             | 2025-10-24      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS, INC.                                               | CISCO SYSTEMS INC 2.950000% 02/28/2026                                  | CUSIP: 17275RBC5<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |   2652000 | PA      | $2639893.51   | 1.11%             | 2026-02-28      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Banco Santander, S.A.                                             | BANCO SANTANDER SA 5.179000% 11/19/2025                                 | CUSIP: 05971KAA7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | NUSS              | ES        |   1800000 | PA      | $1801471.07   | 0.76%             | 2025-11-19      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                              | JPMORGAN CHASE & CO 3.300000% 04/01/2026                                | CUSIP: 46625HQW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2739845.41   | 1.16%             | 2026-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| J. B. HUNT TRANSPORT SERVICES, INC.                               | JB HUNT TRANSPORT SERVICES INC 3.875000% 03/01/2026                     | CUSIP: 445658CF2<br>LEI: 549300XCD1MPI1C5GK90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995975.46   | 0.84%             | 2026-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                                   | UNITEDHEALTH GROUP INC 5.150000% 10/15/2025                             | CUSIP: 91324PEN8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000220.34   | 0.42%             | 2025-10-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORPORATION                                          | STATE STREET CORP 5.272000% 08/03/2026                                  | CUSIP: 857477CD3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    750000 | PA      | $757119.57    | 0.32%             | 2026-08-03      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                          | AMERICAN EXPRESS CO 4.200000% 11/06/2025                                | CUSIP: 025816CA5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999973.79    | 0.42%             | 2025-11-06      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORPORATION                                   | TOYOTA MOTOR CREDIT CORP MTN 1.125000% 06/18/2026                       | CUSIP: 89236TJK2<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   2585000 | PA      | $2532972.45   | 1.07%             | 2026-06-18      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORPORATION                                         | REALTY INCOME CORP 4.625000% 11/01/2025                                 | CUSIP: 756109BE3<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999916.37    | 0.42%             | 2025-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC.                                                    | CITIGROUP INC 3.400000% 05/01/2026                                      | CUSIP: 172967KN0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996137.56    | 0.42%             | 2026-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Company                | AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATIO 1.750000% 01/30/2026 | CUSIP: 00774MAS4<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | NUSS              | IE        |    786000 | PA      | $779618.87    | 0.33%             | 2026-01-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank, National Association                         | MORGAN STANLEY BANK NA 4.754000% 04/21/2026                             | CUSIP: 61690U4T4<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2757686.42   | 1.16%             | 2026-04-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORPORATION                                    | JOHN DEERE CAPITAL CORP MTN 4.800000% 01/09/2026                        | CUSIP: 24422EWP0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1753381.56   | 0.74%             | 2026-01-09      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                           | ROYAL BANK OF CANADA MTN 4.875000% 01/12/2026                           | CUSIP: 78016FZT4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |   1500000 | PA      | $1502622.44   | 0.63%             | 2026-01-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION                                    | CHARLES SCHWAB CORP/THE 5.875000% 08/24/2026                            | CUSIP: 808513CG8<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    750000 | PA      | $761081.57    | 0.32%             | 2026-08-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                            | UBS AG/STAMFORD CT 1.250000% 08/07/2026                                 | CUSIP: 22550L2G5<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | NUSS              | CH        |    750000 | PA      | $733154.69    | 0.31%             | 2026-08-07      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANK, NATIONAL ASSOCIATION                            | FIFTH THIRD BANK NA 3.850000% 03/15/2026                                | CUSIP: 31677AAB0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1497261.14   | 0.63%             | 2026-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| THE ALLSTATE CORPORATION                                          | ALLSTATE CORP/THE 0.750000% 12/15/2025                                  | CUSIP: 020002BH3<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   1467000 | PA      | $1456336.01   | 0.61%             | 2025-12-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| APPLE INC.                                                        | APPLE INC 2.450000% 08/04/2026                                          | CUSIP: 037833BZ2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    750000 | PA      | $741776.24    | 0.31%             | 2026-08-04      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                           | BANK OF NOVA SCOTIA/THE 1.350000% 06/24/2026                            | CUSIP: 0641594A1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | NUSS              | CA        |   3000000 | PA      | $2942317.86   | 1.24%             | 2026-06-24      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Company                | AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATIO 4.450000% 04/03/2026 | CUSIP: 00774MAL9<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | NUSS              | IE        |   2500000 | PA      | $2499831.48   | 1.05%             | 2026-04-03      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation                           | BANK OF NEW YORK MELLON CORP/THE MTN 2.800000% 05/04/2026               | CUSIP: 06406FAC7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1985869.96   | 0.84%             | 2026-05-04      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                                       | TRUIST BANK 4.050000% 11/03/2025                                        | CUSIP: 86787EBB2<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999557.48    | 0.42%             | 2025-11-03      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| EQUINIX, INC.                                                     | EQUINIX INC 1.450000% 05/15/2026                                        | CUSIP: 29444UBQ8<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982815.11    | 0.41%             | 2026-05-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| INVESCO FINANCE PLC                                               | INVESCO FINANCE PLC 3.750000% 01/15/2026                                | CUSIP: 46132FAD2<br>LEI: 549300OYQ3LAJYXXO449 | Long             | DBT              | NUSS              | US        |    500000 | PA      | $499141.44    | 0.21%             | 2026-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LAM RESEARCH CORPORATION                                          | LAM RESEARCH CORP 3.750000% 03/15/2026                                  | CUSIP: 512807AS7<br>LEI: 549300I4GMO6D34U1T02 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2744427.95   | 1.16%             | 2026-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAPITAL LLC                                        | CNH INDUSTRIAL CAPITAL LLC 1.875000% 01/15/2026                         | CUSIP: 12592BAL8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496138.09    | 0.21%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                                        | TORONTO-DOMINION BANK/THE MTN 1.200000% 06/03/2026                      | CUSIP: 89114TZD7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | NUSS              | CA        |   3250000 | PA      | $3189934.41   | 1.35%             | 2026-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                                       | TRUIST BANK 3.300000% 05/15/2026                                        | CUSIP: 86787GAJ1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2485282.93   | 1.05%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK, NATIONAL ASSOCIATION                            | WELLS FARGO BANK NA 5.450000% 08/07/2026                                | CUSIP: 94988J6D4<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1263932.71   | 0.53%             | 2026-08-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation                           | BANK OF NEW YORK MELLON CORP/THE MTN 0.750000% 01/28/2026               | CUSIP: 06406RAQ0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988836.06    | 0.42%             | 2026-01-28      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                             | SUMITOMO MITSUI FINANCIAL GROUP INC 5.464000% 01/13/2026                | CUSIP: 86562MCT5<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | NUSS              | JP        |   1318000 | PA      | $1322686.66   | 0.56%             | 2026-01-13      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| U.S. BANCORP                                                      | US BANCORP MTN 2.375000% 07/22/2026                                     | CUSIP: 91159HHN3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740576.94    | 0.31%             | 2026-07-22      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA (New York Branch)                        | COOPERATIEVE RABOBANK UA/NY 4.850000% 01/09/2026                        | CUSIP: 21688ABA9<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1001636.60   | 0.42%             | 2026-01-09      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                                   | UNITEDHEALTH GROUP INC 4.750000% 07/15/2026                             | CUSIP: 91324PFF4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2010823.04   | 0.85%             | 2026-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                                        | TORONTO-DOMINION BANK/THE MTN 1.250000% 09/10/2026                      | CUSIP: 89114TZG0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | NUSS              | CA        |    750000 | PA      | $731244.73    | 0.31%             | 2026-09-10      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                                   | UNITEDHEALTH GROUP INC 1.250000% 01/15/2026                             | CUSIP: 91324PDW9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1238719.36   | 0.52%             | 2026-01-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                                       | WESTPAC BANKING CORP 5.200000% 04/16/2026                               | CUSIP: 961214FR9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | NUSS              | AU        |   2500000 | PA      | $2514977.65   | 1.06%             | 2026-04-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                             | WELLS FARGO & CO MTN 4.100000% 06/03/2026                               | CUSIP: 94974BFY1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1548802.24   | 0.65%             | 2026-06-03      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ARCHER-DANIELS-MIDLAND COMPANY.                                   | ARCHER-DANIELS-MIDLAND CO 2.500000% 08/11/2026                          | CUSIP: 039483BL5<br>LEI: 549300LO13MQ9HYSTR83 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740945.84    | 0.31%             | 2026-08-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORPORATION                                         | REALTY INCOME CORP 5.050000% 01/13/2026                                 | CUSIP: 756109BQ6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |   1372000 | PA      | $1372263.78   | 0.58%             | 2026-01-13      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                                     | BROADCOM INC 3.459000% 09/15/2026                                       | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    750000 | PA      | $746682.73    | 0.31%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                    | MORGAN STANLEY MTN 3.875000% 01/27/2026                                 | CUSIP: 61746BDZ6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1998197.60   | 0.84%             | 2026-01-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                           | ROYAL BANK OF CANADA MTN 5.200000% 07/20/2026                           | CUSIP: 78016FZZ0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |   1000000 | PA      | $1009270.11   | 0.43%             | 2026-07-20      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INCORPORATED                             | THERMO FISHER SCIENTIFIC INC 4.953000% 08/10/2026                       | CUSIP: 883556CV2<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    750000 | PA      | $755833.38    | 0.32%             | 2026-08-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                                         | ARES CAPITAL CORP 3.875000% 01/15/2026                                  | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1996513.04   | 0.84%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                           | BANK OF NOVA SCOTIA/THE 1.050000% 03/02/2026                            | CUSIP: 0641593U8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | NUSS              | CA        |   1500000 | PA      | $1480607.94   | 0.62%             | 2026-03-02      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC.                                                    | CITIGROUP INC 4.600000% 03/09/2026                                      | CUSIP: 172967KJ9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2503923.13   | 1.06%             | 2026-03-09      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA, INC.                                                | T-MOBILE USA INC 1.500000% 02/15/2026                                   | CUSIP: 87264ABZ7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989525.60    | 0.42%             | 2026-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE CORPORATION                                | AMERICAN HONDA FINANCE CORP MTN 5.250000% 07/07/2026                    | CUSIP: 02665WEK3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    900000 | PA      | $907903.43    | 0.38%             | 2026-07-07      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OPERATING COMPANY                                  | PUBLIC STORAGE OPERATING CO 0.875000% 02/15/2026                        | CUSIP: 74460WAA5<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1973784.24   | 0.83%             | 2026-02-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| THE WALT DISNEY COMPANY                                           | WALT DISNEY CO/THE 3.700000% 10/15/2025                                 | CUSIP: 254687DD5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999755.04    | 0.42%             | 2025-10-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                 | HSBC HOLDINGS PLC 3.900000% 05/25/2026                                  | CUSIP: 404280BB4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | NUSS              | GB        |   1000000 | PA      | $998368.75    | 0.42%             | 2026-05-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| APPLE INC.                                                        | APPLE INC 4.421000% 05/08/2026                                          | CUSIP: 037833ES5<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2000413.60   | 0.84%             | 2026-05-08      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORPORATION                                    | JOHN DEERE CAPITAL CORP MTN 4.750000% 06/08/2026                        | CUSIP: 24422EWX3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2011968.92   | 0.85%             | 2026-06-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                          | AMERICAN EXPRESS CO 5.389000% 07/28/2027                                | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201954.72    | 0.09%             | 2027-07-28      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORPORATION                                             | MICROSOFT CORP 3.125000% 11/03/2025                                     | CUSIP: 594918BJ2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2996851.92   | 1.26%             | 2025-11-03      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                                       | BANK OF AMERICA CORP MTN 4.450000% 03/03/2026                           | CUSIP: 06051GFU8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6250000 | PA      | $6254063.56   | 2.64%             | 2026-03-03      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                                       | WESTPAC BANKING CORP VARIABLE RATE 04/16/2026                           | CUSIP: 961214FS7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | NUSS              | AU        |    900000 | PA      | $900577.20    | 0.38%             | 2026-04-16      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                                       | WESTPAC BANKING CORP 2.700000% 08/19/2026                               | CUSIP: 961214DC4<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | NUSS              | AU        |    750000 | PA      | $741952.28    | 0.31%             | 2026-08-19      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Australia and New Zealand Banking Group Limited (New York Branch) | AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/NEW YORK 5.671000% 10/03/2025 | CUSIP: 05253JAY7<br>LEI: N/A                  | Long             | DBT              | NUSS              | AU        |    600000 | PA      | $600042.68    | 0.25%             | 2025-10-03      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                    | MORGAN STANLEY MTN 6.250000% 08/09/2026                                 | CUSIP: 61746BCY0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509419.27    | 0.21%             | 2026-08-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORPORATION                                             | MICROSOFT CORP 3.400000% 09/15/2026                                     | CUSIP: 594918CN2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    750000 | PA      | $747591.32    | 0.32%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORPORATION                                   | TOYOTA MOTOR CREDIT CORP 5.400000% 11/10/2025                           | CUSIP: 89236TKK0<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001030.82   | 0.42%             | 2025-11-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                      | MIZUHO FINANCIAL GROUP INC 3.477000% 04/12/2026                         | CUSIP: J4599LAL6<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | NUSS              | JP        |   2250000 | PA      | $2241993.22   | 0.95%             | 2026-04-12      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Pepsico, Inc.                                                     | PEPSICO INC 5.250000% 11/10/2025                                        | CUSIP: 713448FV5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |   1586000 | PA      | $1587411.87   | 0.67%             | 2025-11-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LIMITED PARTNERSHIP                             | BOSTON PROPERTIES LP 3.650000% 02/01/2026                               | CUSIP: 10112RAX2<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997002.86    | 0.42%             | 2026-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL, INC.                                        | PRUDENTIAL FINANCIAL INC MTN 1.500000% 03/10/2026                       | CUSIP: 74432QCH6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3280000 | PA      | $3242098.78   | 1.37%             | 2026-03-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| THE WALT DISNEY COMPANY                                           | WALT DISNEY CO/THE 1.750000% 01/13/2026                                 | CUSIP: 254687FV3<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993201.42    | 0.42%             | 2026-01-13      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BANQUE FEDERATIVE DU CREDIT MUTUEL SA                             | BANQUE FEDERATIVE DU CREDIT MUTUEL SA 4.935000% 01/26/2026              | CUSIP: 06675GAZ8<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | NUSS              | FR        |    791000 | PA      | $792530.63    | 0.33%             | 2026-01-26      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** Krane Funds Advisors, LLC

**Signature:** Jonathan Krane

**Name of Signer:** Jonathan Krane

**Title:** CEO