# EDGAR Filing Document

**Accession Number:** 0001676326
**File Stem:** 0002071691-26-005078
**Filing Date:** 2026-2
**Character Count:** 133390
**Document Hash:** 917a183e1ffa6c228c9dad9be84d39fd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-005078.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002071691-26-005078

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley ETF Trust
- **CENTRAL INDEX KEY:** 0001676326

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23820
- **FILM NUMBER:** 26692948

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212.296.1404

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Series and Classes Contracts Data

### Eaton Vance Ultra-Short Income ETF (Series ID: S000082248)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000245532 | Eaton Vance Ultra-Short Income ETF | EVSB            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Morgan Stanley ETF Trust

- **b. Investment Company Act file number:** 811-23820

- **c. CIK number of Registrant:** 0001676326

- **d. LEI of Registrant:** 549300HASXQLXGOR9H31

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

  - **Street Address 1:** 1585 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 800-548-7786

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

- **a. Name of Series:** Eaton Vance Ultra-Short Income ETF

- **b. EDGAR series identifier (if any):** S000082248

- **c. LEI of Series:** 254900V7QBF5XYWO0K24

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $269923228.70

**Total Liabilities:** $11662431.99

**Net Assets:** $258260796.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2703.75579800 | **1-Year:** 12047.55024100 | **5-Year:** 4981.31497500 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 64.74519200 | **1-Year:** 149.52927400 | **5-Year:** 5.94468700 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000245532 | 0.36%                | 0.40%                | 0.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23702.07                | $-60880.13                                 |
| Month 2  | $54826.81                | $58200.81                                  |
| Month 3  | $92177.89                | $100110.82                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABN AMRO Bank NV                                     | ABN AMRO Bank NV                                                                          | CUSIP: 00084DAL4<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   1200000 | PA      | $1202422.79   | 0.47%             | 2026-04-18      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS Trust                                       | ACHV ABS Trust, Series 2024-3AL, Class B                                                  | CUSIP: 00092KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63378 | PA      | $64082.99     | 0.02%             | 2031-12-26      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| AES Corp. (The)                                      | AES Corp. (The)                                                                           | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    918000 | PA      | $916952.93    | 0.36%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                                       | ACM Auto Trust, Series 2025-1A, Class A                                                   | CUSIP: 00161EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    201230 | PA      | $201170.17    | 0.08%             | 2029-06-20      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                       | ACM Auto Trust, Series 2025-2A, Class A                                                   | CUSIP: 00161TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    512162 | PA      | $512314.69    | 0.20%             | 2028-06-20      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines, Inc.                                                                   | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    730022 | PA      | $731439.55    | 0.28%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Acacia LLC                                           | Acacia LLC, Series 2025-1, Class A                                                        | CUSIP: 00401PAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    597054 | PA      | $597860.86    | 0.23%             | 2037-11-15      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                       | ACM Auto Trust, Series 2024-2A, Class A                                                   | CUSIP: 00461WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     58414 | PA      | $58457.99     | 0.02%             | 2029-02-20      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| Air Canada                                           | Air Canada                                                                                | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |   1250000 | PA      | $1244755.00   | 0.48%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Alaska Airlines Pass-Through Trust                   | Alaska Airlines Pass-Through Trust, Series 2020-1, Class A                                | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    699267 | PA      | $703824.67    | 0.27%             | 2027-08-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                    | Algonquin Power & Utilities Corp.                                                         | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   1642000 | PA      | $1650097.06   | 0.64%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                   | Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class B                                | CUSIP: 02007G4C4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145252 | PA      | $146666.58    | 0.06%             | 2032-09-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                   | Ally Bank Auto Credit-Linked Notes, Series 2025-B, Class A2                               | CUSIP: 02007G6N8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    562593 | PA      | $564272.15    | 0.22%             | 2033-09-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                   | Ally Bank Auto Credit-Linked Notes, Series 2025-B, Class B                                | CUSIP: 02007G6P3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    692779 | PA      | $695773.91    | 0.27%             | 2033-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                   | Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class B                                | CUSIP: 02007GZ55<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    832537 | PA      | $846924.42    | 0.33%             | 2032-05-17      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                   | Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class C                                | CUSIP: 02007GZ63<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118595 | PA      | $120691.05    | 0.05%             | 2032-05-17      | Fixed         | 6.02%                 | Yes           |                  2 | On Loan: No      |
| Alterna Funding III LLC                              | Alterna Funding III LLC, Series 2024-1A, Class A                                          | CUSIP: 02157JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150431 | PA      | $150837.09    | 0.06%             | 2039-05-16      | Fixed         | 6.26%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                        | American National Group, Inc.                                                             | CUSIP: 025676AM9<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   1645000 | PA      | $1658154.88   | 0.64%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Amur Equipment Finance Receivables XII LLC           | Amur Equipment Finance Receivables XII LLC, Series 2023-1A, Class A2                      | CUSIP: 03236YAB1<br>LEI: 5493000K1GV1VHEHGY40 | Long             | ABS-O            | CORP              | US        |     26917 | PA      | $27145.38     | 0.01%             | 2029-12-20      | Fixed         | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Apollo Management Holdings LP                        | Apollo Management Holdings LP                                                             | CUSIP: 03765HAB7<br>LEI: 5493006XQW0V5K38YM64 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1200190.86   | 0.46%             | 2026-05-27      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                | Ashtead Capital, Inc.                                                                     | CUSIP: 045054AN3<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1248617.56   | 0.48%             | 2026-08-12      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Athene Global Funding                                | Athene Global Funding                                                                     | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1239000 | PA      | $1243937.51   | 0.48%             | 2026-08-27      | Fixed         | 4.86%                 | Yes           |                  2 | On Loan: No      |
| Athene Global Funding                                | Athene Global Funding                                                                     | CUSIP: 04685A4E8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1309724.31   | 0.51%             | 2027-01-07      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                            | Auxilior Term Funding LLC, Series 2024-1A, Class A2                                       | CUSIP: 05335FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    106258 | PA      | $106472.81    | 0.04%             | 2027-03-15      | Fixed         | 5.84%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                           | Aviation Capital Group LLC                                                                | CUSIP: 05369AAL5<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |   1216000 | PA      | $1196591.17   | 0.46%             | 2026-09-20      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| BFLD Mortgage Trust                                  | BFLD Mortgage Trust, Series 2024-VICT, Class A                                            | CUSIP: 05555VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $663794.87    | 0.26%             | 2041-07-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| BFLD Commercial Mortgage Trust                       | BFLD Commercial Mortgage Trust, Series 2025-660F, Class A                                 | CUSIP: 05556QAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $462000.08    | 0.18%             | 2042-11-15      | Floating      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                              | BPCE SA                                                                                   | CUSIP: 05578AAP3<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $499244.52    | 0.19%             | 2026-01-20      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                              | BPCE SA                                                                                   | CUSIP: 05583JAN2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    575000 | PA      | $575356.08    | 0.22%             | 2027-01-18      | Variable      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| BPR Trust                                            | BPR Trust, Series 2022-SSP, Class A                                                       | CUSIP: 05602HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200439.86    | 0.08%             | 2039-05-15      | Floating      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                         | BX Commercial Mortgage Trust, Series 2022-CSMO, Class A                                   | CUSIP: 05610MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $732093.49    | 0.28%             | 2027-06-15      | Floating      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                   | Banco Santander SA                                                                        | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2400000 | PA      | $2401341.38   | 0.93%             | 2028-03-24      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corp.                                                                     | CUSIP: 060505FZ2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1304031.18   | 0.50%             | 2027-09-15      | Variable      | 1.98%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corp.                                                                     | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5045000 | PA      | $4981324.89   | 1.93%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: —       |
| Bank of Ireland Group plc                            | Bank of Ireland Group plc                                                                 | CUSIP: 06279JAB5<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |   2355000 | PA      | $2318264.12   | 0.90%             | 2027-09-30      | Variable      | 2.03%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon (The)                        | Bank of New York Mellon (The)                                                             | CUSIP: 06405LAF8<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |    535000 | PA      | $535981.32    | 0.21%             | 2027-04-20      | Variable      | 4.59%                 | No            |                  2 | On Loan: —       |
| Barclays plc                                         | Barclays plc                                                                              | CUSIP: 06738EAP0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    825000 | PA      | $828642.10    | 0.32%             | 2026-05-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| Barclays plc                                         | Barclays plc                                                                              | CUSIP: 06738ECJ2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $609468.32    | 0.24%             | 2027-09-13      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance LLC                                 | Bayer US Finance LLC                                                                      | CUSIP: 07274EAH6<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1065380.63   | 0.41%             | 2026-11-21      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Berry Global, Inc.                                   | Berry Global, Inc.                                                                        | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1419000 | PA      | $1417599.22   | 0.55%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: —       |
| Berry Global, Inc.                                   | Berry Global, Inc.                                                                        | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1356000 | PA      | $1356293.13   | 0.53%             | 2026-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| BHG Securitization Trust                             | BHG Securitization Trust, Series 2022-C, Class B                                          | CUSIP: 08860DAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     59380 | PA      | $59541.72     | 0.02%             | 2035-10-17      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Blue Owl Asset Leasing Trust LLC                     | Blue Owl Asset Leasing Trust LLC, Series 2024-1A, Class A2                                | CUSIP: 095921AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43014 | PA      | $43188.95     | 0.02%             | 2029-03-15      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                     | Boeing Co. (The)                                                                          | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2495342.70   | 0.97%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Brunswick Corp.                                      | Brunswick Corp.                                                                           | CUSIP: 11704NA62<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | STIV             | CORP              | US        |   1325000 | PA      | $1324051.96   | 0.51%             | 2026-01-06      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                     | CCO Holdings LLC                                                                          | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1099125.92   | 0.43%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| CaixaBank SA                                         | CaixaBank SA                                                                              | CUSIP: 12803RAB0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   2415000 | PA      | $2457528.10   | 0.95%             | 2027-09-13      | Variable      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                          | Capital One Financial Corp.                                                               | CUSIP: 14040HCH6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1251292.19   | 0.48%             | 2027-11-02      | Variable      | 1.88%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                             | Celanese US Holdings LLC                                                                  | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    900000 | PA      | $886320.00    | 0.34%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: —       |
| Centene Corp.                                        | Centene Corp.                                                                             | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1823000 | PA      | $1813397.11   | 0.70%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                            | Chesapeake Funding II LLC, Series 2023-2A, Class A1                                       | CUSIP: 165183CZ5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |    140975 | PA      | $142500.37    | 0.06%             | 2035-10-15      | Fixed         | 6.16%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                            | Chesapeake Funding II LLC, Series 2024-1A, Class A2                                       | CUSIP: 165183DJ0<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     83268 | PA      | $83348.76     | 0.03%             | 2036-05-15      | Floating      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Citadel Finance LLC                                  | Citadel Finance LLC                                                                       | CUSIP: 17287HAA8<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1386939.36   | 0.54%             | 2026-03-09      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Citadel LP                                           | Citadel LP                                                                                | CUSIP: 17288XAB0<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |   1008000 | PA      | $1010241.62   | 0.39%             | 2027-01-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                      | Citigroup, Inc.                                                                           | CUSIP: 172967NA5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3775000 | PA      | $3732136.46   | 1.45%             | 2027-06-09      | Variable      | 1.46%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                      | Citigroup, Inc.                                                                           | CUSIP: 17327CAM5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    575000 | PA      | $573705.28    | 0.22%             | 2027-01-28      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| Clarus Capital Funding LLC                           | Clarus Capital Funding LLC, Series 2024-1A, Class A2                                      | CUSIP: 18271JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     69408 | PA      | $69681.22     | 0.03%             | 2032-08-20      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-20721.80    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Cologix Data Centers US Issuer LLC                   | Cologix Data Centers US Issuer LLC, Series 2021-1A, Class A2                              | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $737405.70    | 0.29%             | 2051-12-26      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Concentrix Corp.                                     | Concentrix Corp.                                                                          | CUSIP: 20602DAA9<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |   1173000 | PA      | $1184662.73   | 0.46%             | 2026-08-02      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                  | Connecticut Avenue Securities Trust, Series 2025-R05, Class 2A1                           | CUSIP: 20753CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    619732 | PA      | $621613.81    | 0.24%             | 2045-07-25      | Floating      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                  | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1M1                           | CUSIP: 20754LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     89028 | PA      | $89293.37     | 0.03%             | 2041-12-25      | Floating      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Continental Resources, Inc.                          | Continental Resources, Inc.                                                               | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1092197.21   | 0.42%             | 2026-11-15      | Fixed         | 2.27%                 | Yes           |                  2 | On Loan: No      |
| COPT Defense Properties LP                           | COPT Defense Properties LP                                                                | CUSIP: 22003BAL0<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    830000 | PA      | $826410.03    | 0.32%             | 2026-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG                                                                              | CUSIP: 225401AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $299164.08    | 0.12%             | 2027-02-02      | Variable      | 1.30%                 | Yes           |                  2 | On Loan: No      |
| Crossroads Asset Trust                               | Crossroads Asset Trust, Series 2025-A, Class A2                                           | CUSIP: 22767VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2109252 | PA      | $2125823.30   | 0.82%             | 2032-02-20      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                                | DB Master Finance LLC, Series 2017-1A, Class A2II                                         | CUSIP: 233046AF8<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    421582 | PA      | $419189.81    | 0.16%             | 2047-11-20      | Fixed         | 4.03%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                                | DB Master Finance LLC, Series 2021-1A, Class A2I                                          | CUSIP: 233046AN1<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    585600 | PA      | $574673.00    | 0.22%             | 2051-11-20      | Fixed         | 2.04%                 | Yes           |                  2 | On Loan: No      |
| DLLMT LLC                                            | DLLMT LLC, Series 2024-1A, Class A2                                                       | CUSIP: 23347AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     41727 | PA      | $41820.11     | 0.02%             | 2027-02-22      | Fixed         | 5.08%                 | Yes           |                  2 | On Loan: No      |
| Dell International LLC                               | Dell International LLC                                                                    | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $251196.87    | 0.10%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                     | Deutsche Bank AG                                                                          | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2625000 | PA      | $2583095.26   | 1.00%             | 2027-11-16      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                            | Driven Brands Funding LLC, Series 2019-2A, Class A2                                       | CUSIP: 26208LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    619025 | PA      | $615228.23    | 0.24%             | 2049-10-20      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                            | Driven Brands Funding LLC, Series 2020-1A, Class A2                                       | CUSIP: 26209XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    366060 | PA      | $360765.47    | 0.14%             | 2050-07-20      | Fixed         | 3.79%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                            | Driven Brands Funding LLC, Series 2020-2A, Class A2                                       | CUSIP: 26209XAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    729479 | PA      | $707663.04    | 0.27%             | 2051-01-20      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| EQT Corp.                                            | EQT Corp.                                                                                 | CUSIP: 26884LAT6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    869000 | PA      | $886180.59    | 0.34%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                       | EPR Properties                                                                            | CUSIP: 26884UAC3<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1931023.23   | 0.75%             | 2026-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                       | Enterprise Fleet Financing LLC, Series 2023-1, Class A2                                   | CUSIP: 29375CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20873 | PA      | $20905.39     | 0.01%             | 2029-01-22      | Fixed         | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                       | Enterprise Fleet Financing LLC, Series 2024-2, Class A2                                   | CUSIP: 29375RAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47872 | PA      | $48047.44     | 0.02%             | 2026-12-20      | Fixed         | 5.74%                 | Yes           |                  2 | On Loan: No      |
| Extended Stay America Trust                          | Extended Stay America Trust, Series 2025-ESH, Class A                                     | CUSIP: 30227TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    665000 | PA      | $666938.08    | 0.26%             | 2042-10-15      | Floating      | 5.05%                 | Yes           |                  2 | On Loan: No      |
| FHF Issuer Trust                                     | FHF Issuer Trust, Series 2023-2A, Class A2                                                | CUSIP: 30333LAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55734 | PA      | $56154.40     | 0.02%             | 2029-10-15      | Fixed         | 6.79%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, Strips, Series 406, Class F12                                                      | CUSIP: 3133Q3GP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    351783 | PA      | $354819.90    | 0.14%             | 2053-10-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2023-46, Class FA                                                     | CUSIP: 3136BQLF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    511656 | PA      | $516502.61    | 0.20%             | 2053-10-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2024-36, Class FB                                                     | CUSIP: 3136BR3E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    512946 | PA      | $516252.49    | 0.20%             | 2054-06-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2024-22, Class FG                                                     | CUSIP: 3136BRK89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    267856 | PA      | $269192.58    | 0.10%             | 2054-05-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2024-33, Class KF                                                     | CUSIP: 3136BSFC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    218836 | PA      | $219813.49    | 0.09%             | 2054-01-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2024-84, Class JF                                                     | CUSIP: 3136BTUE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    847772 | PA      | $854337.43    | 0.33%             | 2054-11-25      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2025-31, Class FB                                                     | CUSIP: 3136BVYK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    267209 | PA      | $268122.70    | 0.10%             | 2054-06-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2025-63, Class FA                                                     | CUSIP: 3136BWXU5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    588502 | PA      | $590713.81    | 0.23%             | 2055-08-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2025-75, Class FA                                                     | CUSIP: 3136BXHG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    934197 | PA      | $936184.48    | 0.36%             | 2055-09-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| FNMA                                                 | FNMA, REMIC, Series 2025-109, Class FC                                                    | CUSIP: 3136BYEL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    843000 | PA      | $843421.71    | 0.33%             | 2054-11-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5370, Class FA                                                       | CUSIP: 3137HBFN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    464002 | PA      | $466686.13    | 0.18%             | 2054-01-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5370, Class FB                                                       | CUSIP: 3137HBFP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    690959 | PA      | $697364.36    | 0.27%             | 2054-01-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5378, Class FA                                                       | CUSIP: 3137HBKC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    660816 | PA      | $663080.54    | 0.26%             | 2054-02-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5391, Class HF                                                       | CUSIP: 3137HBUT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     66799 | PA      | $67441.16     | 0.03%             | 2054-03-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5386, Class FD                                                       | CUSIP: 3137HBXV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    381220 | PA      | $383577.92    | 0.15%             | 2054-03-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5397, Class AF                                                       | CUSIP: 3137HCEA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    522967 | PA      | $524837.05    | 0.20%             | 2054-04-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5397, Class FE                                                       | CUSIP: 3137HCFS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    823236 | PA      | $830367.92    | 0.32%             | 2054-04-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5410, Class FD                                                       | CUSIP: 3137HCUE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1086026 | PA      | $1094423.91   | 0.42%             | 2054-05-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5410, Class FE                                                       | CUSIP: 3137HCV82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    147045 | PA      | $148045.09    | 0.06%             | 2054-05-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5443, Class FA                                                       | CUSIP: 3137HDXH8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    549827 | PA      | $553344.43    | 0.21%             | 2054-08-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5451, Class FA                                                       | CUSIP: 3137HFL60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1007081 | PA      | $1011868.99   | 0.39%             | 2054-09-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5460, Class FA                                                       | CUSIP: 3137HFS63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    646206 | PA      | $648580.56    | 0.25%             | 2054-10-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5461, Class FA                                                       | CUSIP: 3137HFW84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    852033 | PA      | $853877.21    | 0.33%             | 2054-10-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5483, Class FB                                                       | CUSIP: 3137HHNE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    266515 | PA      | $268239.01    | 0.10%             | 2054-12-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5499, Class FQ                                                       | CUSIP: 3137HJX44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    691365 | PA      | $694921.52    | 0.27%             | 2055-02-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5513, Class FA                                                       | CUSIP: 3137HKE42<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1330527 | PA      | $1334617.94   | 0.52%             | 2055-03-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5529, Class AF                                                       | CUSIP: 3137HKU51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    619830 | PA      | $621802.95    | 0.24%             | 2055-03-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                | FHLMC, REMIC, Series 5556, Class FA                                                       | CUSIP: 3137HMBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1128548 | PA      | $1131989.40   | 0.44%             | 2055-07-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bank NA                                  | Fifth Third Bank NA                                                                       | CUSIP: 31677AAB0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |    480000 | PA      | $479664.57    | 0.19%             | 2026-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: —       |
| FIGRE Trust                                          | FIGRE Trust, Series 2025-FL1, Class A1                                                    | CUSIP: 31684QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    676540 | PA      | $681853.27    | 0.26%             | 2055-07-25      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                            | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2115000 | PA      | $2119866.76   | 0.82%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                            | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    775000 | PA      | $779436.01    | 0.30%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| Ford Motor Credit Co. LLC                            | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    830000 | PA      | $830057.50    | 0.32%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Fortitude Global Funding                             | Fortitude Global Funding                                                                  | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    840000 | PA      | $841205.51    | 0.33%             | 2028-10-06      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                              | FHLMC STACR REMIC Trust, Series 2024-DNA1, Class M1                                       | CUSIP: 35564NAX1<br>LEI: 529900N6M839KA246662 | Long             | ABS-MBS          | CORP              | US        |    220072 | PA      | $221037.05    | 0.09%             | 2044-02-25      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                              | FHLMC STACR REMIC Trust, Series 2024-HQA1, Class A1                                       | CUSIP: 35564NBW2<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |    168749 | PA      | $169698.10    | 0.07%             | 2044-03-25      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GA Global Funding Trust                              | GA Global Funding Trust                                                                   | CUSIP: 36143L2A2<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    948000 | PA      | $947141.35    | 0.37%             | 2026-01-15      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| GA Global Funding Trust                              | GA Global Funding Trust                                                                   | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    390000 | PA      | $383033.75    | 0.15%             | 2027-01-06      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: —       |
| GWT                                                  | GWT, Series 2024-WLF2, Class A                                                            | CUSIP: 362414AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $542165.83    | 0.21%             | 2041-05-15      | Floating      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                  | GS Mortgage-Backed Securities Trust, Series 2025-HE1, Class A1                            | CUSIP: 36272NAA2<br>LEI: 254900RIVK2GCJ08H839 | Long             | ABS-MBS          | CORP              | US        |    505878 | PA      | $507455.38    | 0.20%             | 2055-10-25      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                   | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XDH6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    360000 | PA      | $346873.17    | 0.13%             | 2028-04-10      | Fixed         | 2.40%                 | No            |                  2 | On Loan: —       |
| General Motors Financial Co., Inc.                   | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XDK9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    480000 | PA      | $474658.87    | 0.18%             | 2026-06-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Genuine Parts Co.                                    | Genuine Parts Co.                                                                         | CUSIP: 37255GA73<br>LEI: 549300D46DQVEU651W04 | Long             | STIV             | CORP              | US        |   1250000 | PA      | $1249015.63   | 0.48%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                    | GLS Auto Select Receivables Trust, Series 2024-1A, Class A2                               | CUSIP: 37988XAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     27814 | PA      | $28005.20     | 0.01%             | 2030-03-15      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                      | Goldman Sachs Group, Inc. (The)                                                           | CUSIP: 38141GZT4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2447000 | PA      | $2451141.18   | 0.95%             | 2027-06-15      | Variable      | 4.39%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                               | Goldman Sachs Bank USA                                                                    | CUSIP: 38151LAG5<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |    555000 | PA      | $557970.72    | 0.22%             | 2027-05-21      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2025-139, Class FE                                                           | CUSIP: 38381QF71<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1092936 | PA      | $1096964.82   | 0.42%             | 2065-08-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2025-134, Class FL                                                           | CUSIP: 38381UEK4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    847176 | PA      | $849026.58    | 0.33%             | 2055-06-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2023-101, Class FM                                                           | CUSIP: 38384CBT5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1069763 | PA      | $1071883.72   | 0.42%             | 2053-07-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2023-149, Class NF                                                           | CUSIP: 38384DGY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    369699 | PA      | $371478.94    | 0.14%             | 2053-10-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2023-116, Class DF                                                           | CUSIP: 38384EDX0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    544332 | PA      | $546880.59    | 0.21%             | 2053-08-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2024-30, Class LF                                                            | CUSIP: 38384JNF7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    344455 | PA      | $345300.57    | 0.13%             | 2054-02-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2024-43, Class FB                                                            | CUSIP: 38384KNV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    318084 | PA      | $318717.70    | 0.12%             | 2054-03-20      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2024-177, Class FB                                                           | CUSIP: 38384VPZ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    252861 | PA      | $253467.10    | 0.10%             | 2054-10-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2024-146, Class FE                                                           | CUSIP: 38384W3E3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    846655 | PA      | $850027.81    | 0.33%             | 2064-09-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2024-197, Class GF                                                           | CUSIP: 38385BAP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    393841 | PA      | $395194.10    | 0.15%             | 2054-12-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2025-2, Class FB                                                             | CUSIP: 38385BP53<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    895282 | PA      | $899919.08    | 0.35%             | 2054-12-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA, Series 2025-188, Class FH                                                           | CUSIP: 38385JRV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    557503 | PA      | $557998.20    | 0.22%             | 2054-08-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                            | HCA, Inc.                                                                                 | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    491000 | PA      | $500302.10    | 0.19%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| HCA, Inc.                                            | HCA, Inc.                                                                                 | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    725000 | PA      | $726601.17    | 0.28%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                            | HCA, Inc.                                                                                 | CUSIP: 40412DAD1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | STIV             | CORP              | US        |   1260000 | PA      | $1258180.81   | 0.49%             | 2026-01-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust                       | HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class A                                 | CUSIP: 40424UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    445000 | PA      | $446382.44    | 0.17%             | 2041-06-15      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                    | HSBC Holdings plc                                                                         | CUSIP: 404280BH1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1285000 | PA      | $1288379.58   | 0.50%             | 2026-11-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| HSBC Holdings plc                                    | HSBC Holdings plc                                                                         | CUSIP: 404280BK4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    770000 | PA      | $769170.44    | 0.30%             | 2028-03-13      | Variable      | 4.04%                 | No            |                  2 | On Loan: —       |
| HA Sustainable Infrastructure Capital, Inc.          | HA Sustainable Infrastructure Capital, Inc.                                               | CUSIP: 40460KAM6<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | STIV             | CORP              | US        |   1460000 | PA      | $1456301.53   | 0.56%             | 2026-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HAT Holdings I LLC                                   | HAT Holdings I LLC                                                                        | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1853000 | PA      | $1841574.66   | 0.71%             | 2026-06-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| HAT Holdings I LLC                                   | HAT Holdings I LLC                                                                        | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    395000 | PA      | $410232.49    | 0.16%             | 2027-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Hexcel Corp.                                         | Hexcel Corp.                                                                              | CUSIP: 428291AN8<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |    925000 | PA      | $923502.87    | 0.36%             | 2027-02-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Home RE Ltd.                                         | Home RE Ltd., Series 2021-2, Class B1                                                     | CUSIP: 43730VAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    555000 | PA      | $568938.99    | 0.22%             | 2034-01-25      | Floating      | 8.02%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                              | Hyundai Capital America                                                                   | CUSIP: 44891ADA2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166032.16    | 0.06%             | 2026-06-24      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                              | Hyundai Capital America                                                                   | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1048000 | PA      | $1059862.33   | 0.41%             | 2027-06-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| HYT Commercial Mortgage Trust                        | HYT Commercial Mortgage Trust, Series 2024-RGCY, Class A                                  | CUSIP: 449173AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    735000 | PA      | $737472.32    | 0.29%             | 2041-09-15      | Floating      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                         | ING Groep NV                                                                              | CUSIP: 456837BF9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2125000 | PA      | $2153716.57   | 0.83%             | 2027-09-11      | Variable      | 6.08%                 | No            |                  2 | On Loan: —       |
| Intesa Sanpaolo SpA                                  | Intesa Sanpaolo SpA                                                                       | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   2475000 | PA      | $2476235.37   | 0.96%             | 2026-01-15      | Fixed         | 5.71%                 | Yes           |                  2 | On Loan: —       |
| INTOWN Mortgage Trust                                | INTOWN Mortgage Trust, Series 2025-STAY, Class B                                          | CUSIP: 46117WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840000 | PA      | $841880.09    | 0.33%             | 2042-03-15      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                       | Chase Auto Credit Linked Notes, Series 2025-1, Class B                                    | CUSIP: 46591HCS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    883682 | PA      | $890859.89    | 0.34%             | 2033-02-25      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust, Series 2024-HE2, Class A1                                     | CUSIP: 46593HAA6<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-O            | CORP              | US        |     90328 | PA      | $90446.44     | 0.04%             | 2054-10-20      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust, Series 2023-HE3, Class A1                                     | CUSIP: 465985AA7<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |     29915 | PA      | $30034.57     | 0.01%             | 2054-05-20      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                 | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PBW5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2243834.42   | 0.87%             | 2027-02-04      | Variable      | 1.04%                 | No            |                  2 | On Loan: —       |
| JPMorgan Chase & Co.                                 | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PDW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2845000 | PA      | $2890501.08   | 1.12%             | 2027-10-22      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| Jabil, Inc.                                          | Jabil, Inc.                                                                               | CUSIP: 46652MA54<br>LEI: 5493000CGCQY2OQU7669 | Long             | STIV             | CORP              | US        |   1305000 | PA      | $1304206.69   | 0.50%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust, Series 2023-HE1, Class A1                                     | CUSIP: 46656UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     57672 | PA      | $57868.61     | 0.02%             | 2053-11-25      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust, Series 2023-HE2, Class A1                                     | CUSIP: 46657FAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    401418 | PA      | $403242.86    | 0.16%             | 2054-03-20      | Floating      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust, Series 2025-HE3, Class A1                                     | CUSIP: 46660CAA5<br>LEI: 529900FDW9QWEZPAFE21 | Long             | ABS-O            | CORP              | US        |    631872 | PA      | $634629.58    | 0.25%             | 2056-03-20      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| JDE Peet's NV                                        | JDE Peet's NV                                                                             | CUSIP: 47216QAB9<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |    220000 | PA      | $213207.90    | 0.08%             | 2027-01-15      | Fixed         | 1.38%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                      | Jefferies Financial Group, Inc.                                                           | CUSIP: 47233WKM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1121025.82   | 0.43%             | 2026-08-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Jefferies Financial Group, Inc.                      | Jefferies Financial Group, Inc.                                                           | CUSIP: 47233WKS7<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1290123.22   | 0.50%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Jersey Mike's Funding                                | Jersey Mike's Funding, Series 2021-1A, Class A2I                                          | CUSIP: 476681AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    655025 | PA      | $645967.45    | 0.25%             | 2052-02-15      | Fixed         | 2.89%                 | Yes           |                  2 | On Loan: No      |
| Kyndryl Holdings, Inc.                               | Kyndryl Holdings, Inc.                                                                    | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1092130.31   | 0.42%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                | Las Vegas Sands Corp.                                                                     | CUSIP: 517834AE7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   2102000 | PA      | $2093434.77   | 0.81%             | 2026-08-18      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| Lendbuzz Securitization Trust                        | Lendbuzz Securitization Trust, Series 2023-3A, Class A2                                   | CUSIP: 525931AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    799600 | PA      | $814176.38    | 0.32%             | 2028-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                        | Lendbuzz Securitization Trust, Series 2024-1A, Class A2                                   | CUSIP: 525935AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    206405 | PA      | $207588.19    | 0.08%             | 2029-08-15      | Fixed         | 6.19%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                        | Lendbuzz Securitization Trust, Series 2025-1A, Class A2                                   | CUSIP: 525938AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    138965 | PA      | $139013.28    | 0.05%             | 2030-10-15      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                        | Lendbuzz Securitization Trust, Series 2023-2A, Class A2                                   | CUSIP: 52608MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    113613 | PA      | $115125.53    | 0.04%             | 2028-10-16      | Fixed         | 7.09%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                        | Lendbuzz Securitization Trust, Series 2024-3A, Class A2                                   | CUSIP: 52609YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60034 | PA      | $60059.62     | 0.02%             | 2029-10-15      | Fixed         | 4.97%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                        | Lendbuzz Securitization Trust, Series 2025-2A, Class A2                                   | CUSIP: 52611JAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    637063 | PA      | $640271.04    | 0.25%             | 2030-05-15      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Liberty Mutual Insurance Co.                         | Liberty Mutual Insurance Co.                                                              | CUSIP: 53079QAC1<br>LEI: CNC20I6IOMGF7KY49D67 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1050883.58   | 0.41%             | 2026-10-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MMP Capital LLC                                      | MMP Capital LLC, Series 2025-A, Class A                                                   | CUSIP: 55317QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    289215 | PA      | $291936.35    | 0.11%             | 2031-12-15      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Marex Group plc                                      | Marex Group plc                                                                           | CUSIP: 566539AB8<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |    745000 | PA      | $757748.59    | 0.29%             | 2028-05-08      | Fixed         | 5.83%                 | No            |                  2 | On Loan: —       |
| Marlette Funding Trust                               | Marlette Funding Trust, Series 2024-1A, Class C                                           | CUSIP: 57108VAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $709261.91    | 0.27%             | 2034-07-17      | Fixed         | 6.34%                 | Yes           |                  2 | On Loan: No      |
| Mercury Financial Credit Card Master Trust           | Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A                       | CUSIP: 58940BAZ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    147000 | PA      | $147833.00    | 0.06%             | 2029-07-20      | Fixed         | 6.56%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                             | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    737842 | NS      | $737842.41    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Acquisition Sub, Inc.                           | Utah Acquisition Sub, Inc.                                                                | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |   2385000 | PA      | $2379952.17   | 0.92%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                     | NMEF Funding LLC, Series 2025-A, Class A2                                                 | CUSIP: 62919VAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1072840 | PA      | $1077178.01   | 0.42%             | 2032-07-15      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| NMEF Funding LLC                                     | NMEF Funding LLC, Series 2025-B, Class A2                                                 | CUSIP: 62919WAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320000 | PA      | $321377.54    | 0.12%             | 2033-01-18      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                     | NRG Energy, Inc.                                                                          | CUSIP: 629377CP5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193449.84    | 0.07%             | 2027-12-02      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| NYO Commercial Mortgage Trust                        | NYO Commercial Mortgage Trust, Series 2021-1290, Class A                                  | CUSIP: 62955HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $404697.30    | 0.16%             | 2038-11-15      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| NYO Commercial Mortgage Trust                        | NYO Commercial Mortgage Trust, Series 2021-1290, Class A1                                 | CUSIP: 62955HAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    379000 | PA      | $379043.59    | 0.15%             | 2038-11-15      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| National Bank of Canada                              | National Bank of Canada                                                                   | CUSIP: 63307A3G8<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   1542000 | PA      | $1543479.69   | 0.60%             | 2027-03-05      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| NatWest Markets plc                                  | NatWest Markets plc                                                                       | CUSIP: 63906YAT5<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |   1255000 | PA      | $1258981.80   | 0.49%             | 2028-11-06      | Fixed         | 4.17%                 | Yes           |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Owner Trust II | Navistar Financial Dealer Note Master Owner Trust II, Series 2025-1, Class A              | CUSIP: 63938PBZ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    243000 | PA      | $244155.22    | 0.09%             | 2030-09-25      | Fixed         | 4.18%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                | NextEra Energy Capital Holdings, Inc.                                                     | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1229000 | PA      | $1244265.90   | 0.48%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: —       |
| NRTH Commercial Mortgage Trust                       | NRTH Commercial Mortgage Trust, Series 2025-PARK, Class A                                 | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $155369.49    | 0.06%             | 2040-10-15      | Floating      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| ORL Trust                                            | ORL Trust, Series 2024-GLKS, Class A                                                      | CUSIP: 67120DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    651000 | PA      | $652846.24    | 0.25%             | 2039-12-15      | Floating      | 5.24%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                            | OBX Trust, Series 2025-HE1, Class A1                                                      | CUSIP: 67121CAA4<br>LEI: 2549002GJHC7CO92J583 | Long             | ABS-O            | CORP              | US        |   1423615 | PA      | $1433975.09   | 0.56%             | 2055-02-25      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                           | Occidental Petroleum Corp.                                                                | CUSIP: 674599CM5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    349000 | PA      | $345991.97    | 0.13%             | 2027-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                           | Occidental Petroleum Corp.                                                                | CUSIP: 674599DQ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    343000 | PA      | $360655.93    | 0.14%             | 2027-10-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                             | Octane Receivables Trust, Series 2024-3A, Class A2                                        | CUSIP: 67571GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    117291 | PA      | $117970.44    | 0.05%             | 2030-05-20      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| Octane Receivables Trust                             | Octane Receivables Trust, Series 2024-2A, Class A2                                        | CUSIP: 67578YAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    132286 | PA      | $133423.10    | 0.05%             | 2032-07-20      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Octane Receivables Trust                             | Octane Receivables Trust, Series 2024-RVM1, Class A                                       | CUSIP: 67579FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95259 | PA      | $96733.56     | 0.04%             | 2046-01-22      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| Oceanview Mortgage Trust                             | Oceanview Mortgage Trust, Series 2025-3, Class AF1                                        | CUSIP: 67648CAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1513774 | PA      | $1517815.71   | 0.59%             | 2055-05-25      | Floating      | 4.82%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                     | OneMain Financial Issuance Trust, Series 2022-S1, Class A                                 | CUSIP: 68267HAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1832556 | PA      | $1832560.31   | 0.71%             | 2035-05-14      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                     | OneMain Financial Issuance Trust, Series 2022-2A, Class B                                 | CUSIP: 68268VAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1155000 | PA      | $1159011.78   | 0.45%             | 2034-10-14      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                     | OneMain Financial Issuance Trust, Series 2021-1A, Class B                                 | CUSIP: 68269MAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $279620.56    | 0.11%             | 2036-06-16      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                               | Oportun Issuance Trust, Series 2021-B, Class B                                            | CUSIP: 68377GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    263070 | PA      | $258666.33    | 0.10%             | 2031-05-08      | Fixed         | 1.96%                 | Yes           |                  2 | On Loan: No      |
| Oportun Funding Trust                                | Oportun Funding Trust, Series 2024-3, Class A                                             | CUSIP: 68377NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47896 | PA      | $47915.65     | 0.02%             | 2029-08-15      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Oportun Funding Trust                                | Oportun Funding Trust, Series 2024-3, Class B                                             | CUSIP: 68377NAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150318.86    | 0.06%             | 2029-08-15      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                               | Oportun Issuance Trust, Series 2025-A, Class A                                            | CUSIP: 68377TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $600018.00    | 0.23%             | 2033-02-08      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                               | Oportun Issuance Trust, Series 2025-C, Class C                                            | CUSIP: 68378RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    455000 | PA      | $455266.08    | 0.18%             | 2033-07-08      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                         | Oracle Corp.                                                                              | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1965000 | PA      | $1949254.20   | 0.75%             | 2026-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Oscar US Funding XVII LLC                            | Oscar US Funding XVII LLC, Series 2024-2A, Class A2                                       | CUSIP: 68784BAB0<br>LEI: 353800UI8625NXT7ND41 | Long             | ABS-O            | CORP              | JP        |    112285 | PA      | $112331.21    | 0.04%             | 2027-12-10      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| Oscar US Funding XVI LLC                             | Oscar US Funding XVI LLC, Series 2024-1A, Class A2                                        | CUSIP: 68784GAB9<br>LEI: 3538004TGTV49T7RNL88 | Long             | ABS-O            | CORP              | JP        |     11575 | PA      | $11592.52     | 0.00%             | 2027-02-10      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| Ovintiv, Inc.                                        | Ovintiv, Inc.                                                                             | CUSIP: 69047KAL9<br>LEI: 2549003MEX7YMKLGI239 | Long             | STIV             | CORP              | US        |   1040000 | PA      | $1037589.38   | 0.40%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                          | PNC Bank NA                                                                               | CUSIP: 69353RFX1<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1060298.13   | 0.41%             | 2027-01-15      | Variable      | 4.78%                 | No            |                  2 | On Loan: —       |
| PNC Bank NA                                          | PNC Bank NA                                                                               | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1113000 | PA      | $1114790.74   | 0.43%             | 2027-05-13      | Variable      | 4.54%                 | No            |                  2 | On Loan: —       |
| PEAC Solutions Receivables LLC                       | PEAC Solutions Receivables LLC, Series 2024-1A, Class A2                                  | CUSIP: 69433BAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    153261 | PA      | $154493.98    | 0.06%             | 2027-06-21      | Fixed         | 5.79%                 | Yes           |                  2 | On Loan: No      |
| Pagaya AI Debt Grantor Trust                         | Pagaya AI Debt Grantor Trust, Series 2025-1, Class A2                                     | CUSIP: 69544NAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    403706 | PA      | $407292.79    | 0.16%             | 2032-07-15      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Pagaya Ai Debt Grantor Trust                         | Pagaya Ai Debt Grantor Trust, Series 2024-9, Class A                                      | CUSIP: 69546QAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     66347 | PA      | $66535.78     | 0.03%             | 2032-03-15      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                          | Penske Truck Leasing Co. LP                                                               | CUSIP: 709599BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $515183.67    | 0.20%             | 2026-01-29      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Prodigy Finance DAC                                  | Prodigy Finance DAC, Series 2021-1A, Class A                                              | CUSIP: 742855AA7<br>LEI: 635400HTAZNW3LYYMQ40 | Long             | ABS-O            | CORP              | IE        |    641625 | PA      | $640623.46    | 0.25%             | 2051-07-25      | Floating      | 5.09%                 | Yes           |                  2 | On Loan: No      |
| PRMI Securitization Trust                            | PRMI Securitization Trust, Series 2025-CMG1, Class A1                                     | CUSIP: 74291CAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390000 | PA      | $389484.15    | 0.15%             | 2055-12-25      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| RCKTL                                                | RCKTL, Series 2025-2A, Class A                                                            | CUSIP: 74939HAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    413585 | PA      | $414074.72    | 0.16%             | 2034-11-27      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| RCKT Trust                                           | RCKT Trust, Series 2025-1A, Class A                                                       | CUSIP: 74939RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1409701 | PA      | $1413755.35   | 0.55%             | 2034-07-25      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| RCKT Trust                                           | RCKT Trust, Series 2025-1A, Class B                                                       | CUSIP: 74939RAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1107190.59   | 0.43%             | 2034-07-25      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Radian Group, Inc.                                   | Radian Group, Inc.                                                                        | CUSIP: 750236AW1<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1305143.46   | 0.51%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Radnor Re Ltd.                                       | Radnor Re Ltd., Series 2023-1, Class M1A                                                  | CUSIP: 75050KAA4<br>LEI: 254900P3K895250PCC81 | Long             | ABS-MBS          | CORP              | BM        |    269698 | PA      | $271053.84    | 0.10%             | 2033-07-25      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Reach ABS Trust                                      | Reach ABS Trust, Series 2024-2A, Class A                                                  | CUSIP: 75525HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     46728 | PA      | $46923.58     | 0.02%             | 2031-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Reach ABS Trust                                      | Reach ABS Trust, Series 2025-1A, Class A                                                  | CUSIP: 75525PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    322710 | PA      | $323730.10    | 0.13%             | 2032-08-16      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust             | Research-Driven Pagaya Motor Asset Trust, Series 2025-4A, Class A2                        | CUSIP: 76089MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    430000 | PA      | $431803.94    | 0.17%             | 2034-04-25      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust             | Research-Driven Pagaya Motor Asset Trust, Series 2025-1A, Class A                         | CUSIP: 76089YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    665495 | PA      | $668262.51    | 0.26%             | 2033-06-27      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                  | Rocket Mortgage LLC                                                                       | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1137420 | PA      | $1121602.47   | 0.43%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                 | Royal Bank of Canada                                                                      | CUSIP: 780082AD5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1705000 | PA      | $1705636.83   | 0.66%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: —       |
| NatWest Group plc                                    | NatWest Group plc                                                                         | CUSIP: 780097BA8<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     90000 | PA      | $90230.18     | 0.03%             | 2026-04-05      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                 | Royal Bank of Canada                                                                      | CUSIP: 78016HZX1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $1106268.58   | 0.43%             | 2027-07-23      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust              | Saluda Grade Alternative Mortgage Trust, Series 2025-LOC5, Class A1A                      | CUSIP: 79581XAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    741441 | PA      | $743291.86    | 0.29%             | 2055-10-25      | Floating      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes              | Santander Bank Auto Credit-Linked Notes, Series 2025-A, Class B                           | CUSIP: 80290CCR3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    368275 | PA      | $369368.78    | 0.14%             | 2034-01-16      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                     | Sealed Air Corp.                                                                          | CUSIP: 81211KAZ3<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293743.03    | 0.11%             | 2026-10-15      | Fixed         | 1.57%                 | Yes           |                  2 | On Loan: No      |
| SERVPRO Master Issuer LLC                            | SERVPRO Master Issuer LLC, Series 2021-1A, Class A2                                       | CUSIP: 817743AE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    687600 | PA      | $650996.99    | 0.25%             | 2051-04-25      | Fixed         | 2.39%                 | Yes           |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                                | Silgan Holdings, Inc.                                                                     | CUSIP: 827048AX7<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    558000 | PA      | $553324.62    | 0.21%             | 2026-04-01      | Fixed         | 1.40%                 | Yes           |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                | Delta Air Lines, Inc.                                                                     | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1195428 | PA      | $1202887.15   | 0.47%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Skyworks Solutions, Inc.                             | Skyworks Solutions, Inc.                                                                  | CUSIP: 83088MAK8<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |   1148000 | PA      | $1135580.20   | 0.44%             | 2026-06-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: —       |
| Smithfield Foods, Inc.                               | Smithfield Foods, Inc.                                                                    | CUSIP: 832248AZ1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |   2278000 | PA      | $2270958.95   | 0.88%             | 2027-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                  | Societe Generale SA                                                                       | CUSIP: 83368RBC5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $989464.87    | 0.38%             | 2027-06-09      | Variable      | 1.79%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                  | Societe Generale SA                                                                       | CUSIP: 83368RBQ4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $600337.46    | 0.23%             | 2027-01-12      | Variable      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                  | Societe Generale SA                                                                       | CUSIP: 83368RBV3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $506599.02    | 0.20%             | 2028-01-19      | Variable      | 5.52%                 | Yes           |                  2 | On Loan: —       |
| Societe Generale SA                                  | Societe Generale SA                                                                       | CUSIP: 83368RBZ4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    571000 | PA      | $577676.45    | 0.22%             | 2027-02-19      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                     | SoFi Consumer Loan Program Trust, Series 2025-1, Class A                                  | CUSIP: 83406YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400575 | PA      | $402137.98    | 0.16%             | 2034-02-27      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                     | SoFi Consumer Loan Program Trust, Series 2025-2, Class A                                  | CUSIP: 83407HAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    452190 | PA      | $454917.39    | 0.18%             | 2034-06-25      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| Sonoco Products Co.                                  | Sonoco Products Co.                                                                       | CUSIP: 835495AQ5<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1202677.24   | 0.47%             | 2026-09-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: —       |
| Stack Infrastructure Issuer LLC                      | Stack Infrastructure Issuer LLC, Series 2021-1A, Class A2                                 | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-O            | CORP              | US        |   1775000 | PA      | $1762098.95   | 0.68%             | 2046-03-26      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                           | STAR Trust, Series 2025-SFR5, Class A                                                     | CUSIP: 85520CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    424440 | PA      | $425124.49    | 0.16%             | 2042-02-17      | Floating      | 5.19%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Finance US, Inc.                          | Stellantis Finance US, Inc.                                                               | CUSIP: 85855CAA8<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    700000 | PA      | $680612.12    | 0.26%             | 2027-01-29      | Fixed         | 1.71%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Financial Services US Corp.               | Stellantis Financial Services US Corp.                                                    | CUSIP: 85855FAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $517126.20    | 0.20%             | 2028-09-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Swedbank AB                                          | Swedbank AB                                                                               | CUSIP: 87020PAX5<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    700000 | PA      | $710378.97    | 0.28%             | 2026-09-12      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: No      |
| TD SYNNEX Corp.                                      | TD SYNNEX Corp.                                                                           | CUSIP: 87162WAM2<br>LEI: 5493004HI6PFLF46NS53 | Long             | DBT              | CORP              | US        |    580000 | PA      | $579069.80    | 0.22%             | 2029-01-17      | Fixed         | 4.30%                 | No            |                  2 | On Loan: —       |
| T-Mobile USA, Inc.                                   | T-Mobile USA, Inc.                                                                        | CUSIP: 87264ABU8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     83000 | PA      | $82679.22     | 0.03%             | 2026-04-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding LLC                                | Taco Bell Funding LLC, Series 2021-1A, Class A2I                                          | CUSIP: 87342RAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    594412 | PA      | $579417.49    | 0.22%             | 2051-08-25      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Tesla Lease Electric Vehicle Securitization LLC      | Tesla Lease Electric Vehicle Securitization LLC, Series 2025-A, Class A2                  | CUSIP: 88162VAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1160000 | PA      | $1162652.57   | 0.45%             | 2028-06-20      | Fixed         | 4.14%                 | Yes           |                  2 | On Loan: No      |
| Theorem Funding Trust                                | Theorem Funding Trust, Series 2022-3A, Class B                                            | CUSIP: 882925AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    194086 | PA      | $195289.96    | 0.08%             | 2029-04-15      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| Theorem Funding Trust                                | Theorem Funding Trust, Series 2022-2A, Class B                                            | CUSIP: 88339FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63041 | PA      | $63126.53     | 0.02%             | 2028-12-15      | Fixed         | 9.27%                 | Yes           |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                          | Toronto-Dominion Bank (The)                                                               | CUSIP: 89114TZD7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    480000 | PA      | $474561.40    | 0.18%             | 2026-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: —       |
| Toronto-Dominion Bank (The)                          | Toronto-Dominion Bank (The)                                                               | CUSIP: 89115KAE0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1250000 | PA      | $1253291.20   | 0.49%             | 2028-10-13      | Fixed         | 4.11%                 | No            |                  2 | On Loan: —       |
| Towd Point Mortgage Trust                            | Towd Point Mortgage Trust, Series 2025-HE2, Class A1A                                     | CUSIP: 89183PAA4<br>LEI: 254900HCCXAYNB40M417 | Long             | ABS-O            | CORP              | US        |    758348 | PA      | $760240.86    | 0.29%             | 2065-09-25      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                | Global Payments, Inc.                                                                     | CUSIP: 891906AC3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1080252.45   | 0.42%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| Tricon Residential Trust                             | Tricon Residential Trust, Series 2025-SFR1, Class B                                       | CUSIP: 895974AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $350379.61    | 0.14%             | 2042-03-17      | Floating      | 5.09%                 | Yes           |                  2 | On Loan: No      |
| Tricon Residential Trust                             | Tricon Residential Trust, Series 2025-SFR1, Class C                                       | CUSIP: 895974AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $280452.98    | 0.11%             | 2042-03-17      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                          | Truist Bank                                                                               | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1501000 | PA      | $1510583.96   | 0.58%             | 2028-07-24      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Truist Bank Auto Credit-Linked Notes                 | Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B                              | CUSIP: 897926CB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    829541 | PA      | $831309.76    | 0.32%             | 2033-09-26      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| TX Trust                                             | TX Trust, Series 2024-HOU, Class A                                                        | CUSIP: 90216DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $140261.24    | 0.05%             | 2039-06-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG                                                                              | CUSIP: 902613AH1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    504000 | PA      | $496053.41    | 0.19%             | 2027-08-10      | Variable      | 1.49%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG                                                                              | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1600000 | PA      | $1605840.51   | 0.62%             | 2027-08-05      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: —       |
| UBS Group AG                                         | UBS Group AG                                                                              | CUSIP: 902613AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    372000 | PA      | $372145.56    | 0.14%             | 2027-01-12      | Variable      | 5.71%                 | Yes           |                  2 | On Loan: —       |
| US Bank NA                                           | US Bank NA                                                                                | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |    570000 | PA      | $575806.68    | 0.22%             | 2028-05-15      | Variable      | 4.73%                 | No            |                  2 | On Loan: —       |
| United Airlines, Inc.                                | United Airlines, Inc.                                                                     | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1368000 | PA      | $1367111.89   | 0.53%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| U.S. Bancorp                                         | U.S. Bancorp                                                                              | CUSIP: 91159HHM5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    480000 | PA      | $478826.22    | 0.19%             | 2026-04-27      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| United States of America                             | U.S. Treasury Notes                                                                       | CUSIP: 9128287B0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13912700 | PA      | $13803497.83  | 5.34%             | 2026-06-30      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States of America                             | U.S. Treasury Notes                                                                       | CUSIP: 91282CEN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1025000 | PA      | $1015210.45   | 0.39%             | 2027-04-30      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                             | U.S. Treasury Notes                                                                       | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2125000 | PA      | $2135032.95   | 0.83%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States of America                             | U.S. Treasury Notes                                                                       | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9780000 | PA      | $9822572.24   | 3.80%             | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers Issuer LLC                      | Vantage Data Centers Issuer LLC, Series 2021-1A, Class A2                                 | CUSIP: 92212KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    575000 | PA      | $563428.47    | 0.22%             | 2046-10-15      | Fixed         | 2.17%                 | Yes           |                  2 | On Loan: No      |
| Verdant Receivables LLC                              | Verdant Receivables LLC, Series 2025-1A, Class A2                                         | CUSIP: 92340GAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1012657 | PA      | $1017722.82   | 0.39%             | 2028-03-13      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                   | VICI Properties LP                                                                        | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1575000 | PA      | $1575186.86   | 0.61%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                            | Vistra Operations Co. LLC                                                                 | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1093664.00   | 0.42%             | 2027-01-30      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                            | Vistra Operations Co. LLC                                                                 | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      2097 | PA      | $2113.04      | 0.00%             | 2026-12-30      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                            | Vistra Operations Co. LLC                                                                 | CUSIP: 92840VAX0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    720000 | PA      | $722552.40    | 0.28%             | 2028-10-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC              | Volkswagen Group of America Finance LLC                                                   | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    750000 | PA      | $752653.70    | 0.29%             | 2027-09-11      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Vontier Corp.                                        | Vontier Corp.                                                                             | CUSIP: 928881AB7<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |   2193000 | PA      | $2179250.53   | 0.84%             | 2026-04-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                    | Wells Fargo & Co.                                                                         | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3735000 | PA      | $3720473.13   | 1.44%             | 2027-06-17      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Western Union Co. (The)                              | Western Union Co. (The)                                                                   | CUSIP: 959802AZ2<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |    229500 | PA      | $228076.89    | 0.09%             | 2026-03-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                      | Wingspire Equipment Finance LLC, Series 2024-1A, Class A2                                 | CUSIP: 97415AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     68011 | PA      | $68427.98     | 0.03%             | 2032-09-20      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                      | Wingspire Equipment Finance LLC, Series 2025-1A, Class A2                                 | CUSIP: 97415CAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $395900.56    | 0.15%             | 2033-09-20      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| Bank of Montreal                                     | Bank of Montreal                                                                          | CUSIP: 06368D3U6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1750000 | PA      | $1297923.57   | 0.50%             | 2027-06-01      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury 5 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -10 | NC      | $3515.62      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC                             | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  11602119 | NS      | $11602119.00  | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | U.S. Treasury 2 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -20 | NC      | $1489.92      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Morgan Stanley ETF Trust

**Signature:** Francis J. Smith

**Name of Signer:** Francis J. Smith

**Title:** Principal Financial Officer