# EDGAR Filing Document

**Accession Number:** 0001137360
**File Stem:** 0001752724-25-155286
**Filing Date:** 2025-6
**Character Count:** 58362
**Document Hash:** 490d6ef0fc8474a4b2300e2ade4a4119
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-155286.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-155286

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VanEck ETF Trust
- **CENTRAL INDEX KEY:** 0001137360

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10325
- **FILM NUMBER:** 251072353

**BUSINESS ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-293-2000

**MAIL ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VanEck Vectors ETF Trust
- **DATE OF NAME CHANGE:** 20160427

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS ETF TRUST
- **DATE OF NAME CHANGE:** 20070312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS TRUST
- **DATE OF NAME CHANGE:** 20050516

## Series and Classes Contracts Data

### VanEck Fallen Angel High Yield Bond ETF (Series ID: S000036772)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000112461 | VanEck Fallen Angel High Yield Bond ETF | ANGL            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VanEck ETF Trust

- **b. Investment Company Act file number:** 811-10325

- **c. CIK number of Registrant:** 0001137360

- **d. LEI of Registrant:** 549300ZLFKNTXC51ZN76

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

  - **Street Address 1:** 666 THIRD AVENUE, 9TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-293-2000

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

- **a. Name of Series:** VanEck Fallen Angel High Yield Bond ETF

- **b. EDGAR series identifier (if any):** S000036772

- **c. LEI of Series:** 549300A6A1N73WLV0K30

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

- **a. Date of fiscal year-end:** 2025-04-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $3049190879.20

**Total Liabilities:** $247185563.80

**Net Assets:** $2802005315.40

**Cash Not Reported:** $13452302.06

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -54.16000000 | **1-Year:** -7130.21000000 | **5-Year:** -9096.33000000 | **10-Year:** -1364.13000000 | **30-Year:** 0.00000000

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

- **3-Month:** -4178.62000000 | **1-Year:** -206869.81000000 | **5-Year:** -507242.66000000 | **10-Year:** -437800.61000000 | **30-Year:** -148862.34000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000112461 | 0.41%                | -0.35%               | -1.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1902999.35              | $-5083367.22                               |
| Month 2  | $-47833881.03            | $20706549.58                               |
| Month 3  | $-1219605.52             | $-59930656.40                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Safeway Inc                  | Safeway Inc                                                                 | CUSIP: 786514BA6<br>LEI: 549300NKZ6VCN5P3K723 | Long             | DBT              | CORP              | US        |  11330000 | PA      | $11659194.28  | 0.42%             | 2031-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VORNADO REALTY LP            | Vornado Realty LP                                                           | CUSIP: 929043AL1<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              |  | US        |  15175000 | PA      | $12931108.71  | 0.46%             | 2031-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 65480CAH8<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  10175000 | PA      | $9844566.88   | 0.35%             | 2029-09-13      | Fixed         | 5.55%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST     | Service Properties Trust                                                    | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |  17350000 | PA      | $16510823.70  | 0.59%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Nordstrom Inc                | Nordstrom Inc                                                               | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |  41850000 | PA      | $29734006.50  | 1.06%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EMBARQ CORP                  | Embarq LLC                                                                  | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  52650000 | PA      | $23779899.00  | 0.85%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE     | Hudson Pacific Properties LP                                                | CUSIP: 44409MAA4<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              |  | US        |  17350000 | PA      | $15091384.63  | 0.54%             | 2027-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| US CELLULAR CORP             | United States Cellular Corp                                                 | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |  23575000 | PA      | $25553495.10  | 0.91%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| Yum! Brands Inc              | Yum! Brands Inc                                                             | CUSIP: 988498AD3<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |  14100000 | PA      | $14671892.48  | 0.52%             | 2037-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP        | Prospect Capital Corp                                                       | CUSIP: 74348TAW2<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |  13025000 | PA      | $11404167.70  | 0.41%             | 2028-10-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: —       |
| XEROX CORPORATION            | Xerox Corp                                                                  | CUSIP: 984121CL5<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |  10900000 | PA      | $4678343.11   | 0.17%             | 2035-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| VF CORP                      | VF Corp                                                                     | CUSIP: 918204BC1<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |  32500000 | PA      | $26791605.10  | 0.96%             | 2030-04-23      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| VF CORP                      | VF Corp                                                                     | CUSIP: 918204AT5<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |  12450000 | PA      | $10457928.41  | 0.37%             | 2037-11-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE     | Walgreens Boots Alliance Inc                                                | CUSIP: 931427AQ1<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  62700000 | PA      | $61327471.29  | 2.19%             | 2026-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Methanex Corp                | Methanex Corp                                                               | CUSIP: 59151KAJ7<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |  13025000 | PA      | $10013552.40  | 0.36%             | 2044-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE     | Walgreens Boots Alliance Inc                                                | CUSIP: 931427AC2<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  28600000 | PA      | $26430976.00  | 0.94%             | 2044-11-18      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| ADVANCE AUTO PARTS           | Advance Auto Parts Inc                                                      | CUSIP: 00751YAF3<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |  15175000 | PA      | $13656467.04  | 0.49%             | 2027-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  40650000 | PA      | $41131229.33  | 1.47%             | 2028-11-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE     | Walgreens Boots Alliance Inc                                                | CUSIP: 931427AB4<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  13150000 | PA      | $12411496.00  | 0.44%             | 2034-11-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| KOHL'S CORPORATION           | Kohl's Corp                                                                 | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |  21689000 | PA      | $13799409.36  | 0.49%             | 2031-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| Bath & Body Works Inc        | Bath & Body Works Inc                                                       | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |  12325000 | PA      | $12222302.92  | 0.44%             | 2033-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| WALGREENS BOOTS ALLIANCE     | Walgreens Boots Alliance Inc                                                | CUSIP: 931427AR9<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  12950000 | PA      | $11754367.42  | 0.42%             | 2046-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE     | Rockies Express Pipeline LLC                                                | CUSIP: 77340RAD9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |  10850000 | PA      | $10660098.96  | 0.38%             | 2038-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp              | Sealed Air Corp                                                             | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |  19500000 | PA      | $20257185.00  | 0.72%             | 2033-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC      | Macy's Retail Holdings LLC                                                  | CUSIP: 55616XAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10825000 | PA      | $7121258.29   | 0.25%             | 2042-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Steelcase Inc                | Steelcase Inc                                                               | CUSIP: 858155AE4<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | DBT              | CORP              | US        |  19500000 | PA      | $18553275.00  | 0.66%             | 2029-01-18      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        | 246530328 | NS      | $246530327.50 | 8.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  11875000 | PA      | $10504238.59  | 0.37%             | 2028-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION           | Kohl's Corp                                                                 | CUSIP: 500255AV6<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |  18500000 | PA      | $8881783.96   | 0.32%             | 2045-07-17      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE     | Rockies Express Pipeline LLC                                                | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |  15175000 | PA      | $14232699.73  | 0.51%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc            | Newell Brands Inc                                                           | CUSIP: 651229AX4<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |  18196000 | PA      | $15883458.71  | 0.57%             | 2036-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Seagate HDD Cayman           | Seagate HDD Cayman                                                          | CUSIP: 81180WAR2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |  21900000 | PA      | $21695666.43  | 0.77%             | 2027-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO              | Nissan Motor Co Ltd                                                         | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |  84775000 | PA      | $78405031.93  | 2.80%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: —       |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  30500000 | PA      | $30799510.00  | 1.10%             | 2029-07-15      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP          | Buckeye Partners LP                                                         | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $25373066.42  | 0.91%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Crown Cork & Seal Co Inc     | Crown Cork & Seal Co Inc                                                    | CUSIP: 228255AH8<br>LEI: 7HLDMDH0ZXNUH6PT7Z42 | Long             | DBT              | CORP              | US        |  15172000 | PA      | $15616767.18  | 0.56%             | 2026-12-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 65480CAE5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  10225000 | PA      | $10321812.65  | 0.37%             | 2026-09-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| VALLEY NATIONAL BANCORP      | Valley National Bancorp                                                     | CUSIP: 919794AE7<br>LEI: 549300ET52S1UBIB9762 | Long             | DBT              | CORP              | US        |  13025000 | PA      | $11833517.81  | 0.42%             | 2031-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS     | Brandywine Operating Partnership LP                                         | CUSIP: 105340AR4<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |  15175000 | PA      | $15699828.74  | 0.56%             | 2028-03-15      | Fixed         | 8.30%                 | No            |                  2 | On Loan: —       |
| TELECOM ITALIA CAPITAL       | Telecom Italia Capital SA                                                   | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  21625000 | PA      | $21642588.48  | 0.77%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST     | Service Properties Trust                                                    | CUSIP: 44106MAY8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |  17350000 | PA      | $12952663.15  | 0.46%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| XEROX CORPORATION            | Xerox Corp                                                                  | CUSIP: 984121CB7<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |  15225000 | PA      | $6638632.88   | 0.24%             | 2039-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS           | Advance Auto Parts Inc                                                      | CUSIP: 00751YAE6<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |  21675000 | PA      | $19523996.63  | 0.70%             | 2030-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| Newell Brands Inc            | Newell Brands Inc                                                           | CUSIP: 651229AW6<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |  53425000 | PA      | $52775126.55  | 1.88%             | 2026-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE     | Rockies Express Pipeline LLC                                                | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |  23850000 | PA      | $22826286.69  | 0.81%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL       | Telecom Italia Capital SA                                                   | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  21650000 | PA      | $22591511.52  | 0.81%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP        | Prospect Capital Corp                                                       | CUSIP: 74348TAV4<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |  13025000 | PA      | $12211869.83  | 0.44%             | 2026-11-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: —       |
| NORDSTROM INC                | Nordstrom Inc                                                               | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |  18425000 | PA      | $15860330.84  | 0.57%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| Fluor Corp                   | Fluor Corp                                                                  | CUSIP: 343412AF9<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |  23020000 | PA      | $22327274.56  | 0.80%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS     | Brandywine Operating Partnership LP                                         | CUSIP: 105340AP8<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |  15175000 | PA      | $13861765.21  | 0.49%             | 2029-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST     | Service Properties Trust                                                    | CUSIP: 44106MBA9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |  19500000 | PA      | $18902696.09  | 0.67%             | 2026-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO          | Travel + Leisure Co                                                         | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |  17350000 | PA      | $17463231.65  | 0.62%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Navient Corp                 | Navient Corp                                                                | CUSIP: 78442FAZ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |  25750000 | PA      | $22101220.37  | 0.79%             | 2033-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| ROCKIES EXPRESS PIPELINE     | Rockies Express Pipeline LLC                                                | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |  21675000 | PA      | $20482242.74  | 0.73%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO              | Nissan Motor Co Ltd                                                         | CUSIP: 654744AC5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |  84750000 | PA      | $81388489.56  | 2.90%             | 2027-09-17      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE     | Walgreens Boots Alliance Inc                                                | CUSIP: 931427AT5<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  27750000 | PA      | $24253102.62  | 0.87%             | 2050-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: —       |
| ADVANCE AUTO PARTS           | Advance Auto Parts Inc                                                      | CUSIP: 00751YAG1<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |  15175000 | PA      | $12693946.23  | 0.45%             | 2032-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  40650000 | PA      | $40757935.91  | 1.45%             | 2033-11-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| NORDSTROM INC                | Nordstrom Inc                                                               | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |  21675000 | PA      | $19414751.37  | 0.69%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP       | Resorts World Las Vegas LLC / RWLV Capital Inc                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  43350000 | PA      | $37347161.64  | 1.33%             | 2029-04-16      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION INSURC INC     | Constellation Insurance Inc                                                 | CUSIP: 67740QAH9<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |  18425000 | PA      | $17885680.35  | 0.64%             | 2030-01-24      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| DPL INC                      | DPL Inc                                                                     | CUSIP: 233293AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17325000 | PA      | $16537074.59  | 0.59%             | 2029-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FRONTIER FLORIDA LLC         | Frontier Florida LLC                                                        | CUSIP: 362333AH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13025000 | PA      | $13345675.50  | 0.48%             | 2028-02-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Nordstrom Inc                | Nordstrom Inc                                                               | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |  15172000 | PA      | $14565987.53  | 0.52%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Under Armour Inc             | Under Armour Inc                                                            | CUSIP: 904311AA5<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $25190903.40  | 0.90%             | 2026-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc               | Bombardier Inc                                                              | CUSIP: 097751AL5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |  22100000 | PA      | $23249901.45  | 0.83%             | 2034-05-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Global Marine Inc            | Global Marine Inc                                                           | CUSIP: 379352AL1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11300000 | PA      | $9750205.00   | 0.35%             | 2028-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| XPO CNW Inc                  | XPO CNW Inc                                                                 | CUSIP: 12612WAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12975000 | PA      | $13159764.00  | 0.47%             | 2034-05-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp        | Tenet Healthcare Corp                                                       | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  15675000 | PA      | $16111567.09  | 0.58%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DRESDNER FNDG TRUST I        | Dresdner Funding Trust I                                                    | CUSIP: 26156FAA1<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |  43300000 | PA      | $47232111.97  | 1.69%             | 2031-06-30      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  60957000 | PA      | $61505845.25  | 2.20%             | 2027-07-15      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                 | Entegris Inc                                                                | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |  69300000 | PA      | $67532621.31  | 2.41%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN           | Seagate HDD Cayman                                                          | CUSIP: 81180WBD2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |  10964000 | PA      | $10025937.37  | 0.36%             | 2031-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS     | Brandywine Operating Partnership LP                                         | CUSIP: 105340AQ6<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |  19500000 | PA      | $18396883.83  | 0.66%             | 2027-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TOLEDO HOSPITAL/THE          | Toledo Hospital/The                                                         | CUSIP: 889184AA5<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |  11825000 | PA      | $8975884.50   | 0.32%             | 2045-11-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL       | Telecom Italia Capital SA                                                   | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  21650000 | PA      | $22199767.76  | 0.79%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 65480CAG0<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  13575000 | PA      | $13318881.56  | 0.48%             | 2027-09-13      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| RESORTS WORLD/RWLV CAP       | Resorts World Las Vegas LLC / RWLV Capital Inc                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15175000 | PA      | $12177160.54  | 0.43%             | 2031-04-06      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE     | Hudson Pacific Properties LP                                                | CUSIP: 44409MAB2<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              |  | US        |  21675000 | PA      | $15546648.21  | 0.55%             | 2029-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: —       |
| Transocean Inc               | Transocean Inc                                                              | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |  26400000 | PA      | $16294191.94  | 0.58%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: —       |
| SEAGATE HDD CAYMAN           | Seagate HDD Cayman                                                          | CUSIP: 81180WBC4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |  20950000 | PA      | $19908940.03  | 0.71%             | 2029-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP          | Buckeye Partners LP                                                         | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |  13025000 | PA      | $10684016.75  | 0.38%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| VF CORP                      | VF Corp                                                                     | CUSIP: 918204BB3<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |  21675000 | PA      | $20137479.11  | 0.72%             | 2027-04-23      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC       | Standard Chartered PLC                                                      | CUSIP: 853254AB6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |  32475000 | PA      | $32904969.00  | 1.17%             | 2037-07-30      | Fixed         | 7.01%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN     | Rogers Communications Inc                                                   | CUSIP: 775109BS9<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  32500000 | PA      | $31706656.80  | 1.13%             | 2082-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  20350000 | PA      | $18560082.78  | 0.66%             | 2028-03-09      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TOPAZ SOLAR FARMS LLC        | Topaz Solar Farms LLC                                                       | CUSIP: 89054XAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22014554 | PA      | $20593514.54  | 0.73%             | 2039-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  33950000 | PA      | $32076007.19  | 1.14%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE     | Hudson Pacific Properties LP                                                | CUSIP: 44409MAC0<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              |  | US        |  17350000 | PA      | $11505652.50  | 0.41%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| Murphy Oil Corp              | Murphy Oil Corp                                                             | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |  14700000 | PA      | $10794526.05  | 0.39%             | 2042-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| ROYAL CARIBBEAN CRUISES      | Royal Caribbean Cruises Ltd                                                 | CUSIP: 780153AW2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  21675000 | PA      | $20791684.14  | 0.74%             | 2028-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES      | Royal Caribbean Cruises Ltd                                                 | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  13025000 | PA      | $13726331.13  | 0.49%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC      | Macy's Retail Holdings LLC                                                  | CUSIP: 55616XAM9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15875000 | PA      | $12107565.80  | 0.43%             | 2034-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| HUDSON PACIFIC PROPERTIE     | Hudson Pacific Properties LP                                                | CUSIP: 44409MAD8<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              |  | US        |  15175000 | PA      | $12694415.74  | 0.45%             | 2028-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| VORNADO REALTY LP            | Vornado Realty LP                                                           | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              |  | US        |  17350000 | PA      | $16733479.90  | 0.60%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| VF CORP                      | VF Corp                                                                     | CUSIP: 918204AR9<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $10328651.04  | 0.37%             | 2033-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Yum! Brands Inc              | Yum! Brands Inc                                                             | CUSIP: 988498AK7<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |  11925000 | PA      | $10953920.54  | 0.39%             | 2043-11-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS           | Advance Auto Parts Inc                                                      | CUSIP: 00751YAJ5<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $12903995.91  | 0.46%             | 2028-03-09      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| DIVERSIFIED HEALTHCARE T     | Diversified Healthcare Trust                                                | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              |  | US        |  21675000 | PA      | $19413142.22  | 0.69%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc            | Newell Brands Inc                                                           | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |  28875000 | PA      | $22362195.53  | 0.80%             | 2046-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP          | Buckeye Partners LP                                                         | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |  17350000 | PA      | $16684741.66  | 0.60%             | 2027-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CRANE NXT CO                 | Crane NXT Co                                                                | CUSIP: 224399AT2<br>LEI: 549300EXNPSXEWUD3N21 | Long             | DBT              | CORP              | US        |  15200000 | PA      | $9021450.04   | 0.32%             | 2048-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| United States Steel Corp     | United States Steel Corp                                                    | CUSIP: 912909AD0<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |  11900000 | PA      | $11569789.28  | 0.41%             | 2037-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems Inc       | Spirit AeroSystems Inc                                                      | CUSIP: 85205TAK6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |  30325000 | PA      | $29348229.63  | 1.05%             | 2028-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| H.B. FULLER CO               | HB Fuller Co                                                                | CUSIP: 359694AB2<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |  13025000 | PA      | $12692209.69  | 0.45%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Toledo Hospital/The          | Toledo Hospital/The                                                         | CUSIP: 889184AE7<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |  17325000 | PA      | $15190040.25  | 0.54%             | 2048-11-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST     | Service Properties Trust                                                    | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |  18425000 | PA      | $14481573.90  | 0.52%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| TransAlta Corp               | TransAlta Corp                                                              | CUSIP: 89346DAE7<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |  13015000 | PA      | $12007797.52  | 0.43%             | 2040-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITD     | Perrigo Finance Unlimited Co                                                | CUSIP: 714295AA0<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |  13175000 | PA      | $10228690.56  | 0.37%             | 2044-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP          | Buckeye Partners LP                                                         | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |  17350000 | PA      | $14584049.99  | 0.52%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE      | Nissan Motor Acceptance Co LLC                                              | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  23750000 | PA      | $24302565.13  | 0.87%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE     | Perrigo Finance Unlimited Co                                                | CUSIP: 71429MAC9<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |  32500000 | PA      | $30961951.15  | 1.10%             | 2030-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  40650000 | PA      | $39991820.81  | 1.43%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| METHANEX CORP                | Methanex Corp                                                               | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |  30325000 | PA      | $28837203.64  | 1.03%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Spirit AeroSystems Inc       | Spirit AeroSystems Inc                                                      | CUSIP: 85205TAG5<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $12787857.03  | 0.46%             | 2026-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| BANC OF CALIFORNIA           | Banc of California                                                          | CUSIP: 69506YSC4<br>LEI: 549300A7DTSCJLJ33451 | Long             | SN               | CORP              | US        |  16699000 | PA      | $15778551.12  | 0.56%             | 2031-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC           | Vodafone Group PLC                                                          | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |  86625000 | PA      | $89157373.59  | 3.18%             | 2079-04-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ACADIAN ASSET MANAGEMENT     | Acadian Asset Management Inc                                                | CUSIP: 10948WAA1<br>LEI: 5493004FTLQNQTBOP608 | Long             | DBT              | CORP              | US        |  11925000 | PA      | $11677359.37  | 0.42%             | 2026-07-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OCI NV                       | OCI NV                                                                      | CUSIP: 67116NAA7<br>LEI: 549300NCMRGIBJYUOE57 | Long             | DBT              | CORP              | NL        |  26000000 | PA      | $28395401.06  | 1.01%             | 2033-03-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC         | Oceaneering International Inc                                               | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $12371928.40  | 0.44%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD     | Aptiv Swiss Holdings Ltd                                                    | CUSIP: 03837AAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |  21675000 | PA      | $20326199.65  | 0.73%             | 2054-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  16275000 | PA      | $15538831.79  | 0.55%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| WILTON RE LTD                | Wilton RE Ltd                                                               | CUSIP: 97263CAA9<br>LEI: 5493004VQ9VSL29MT373 | Long             | DBT              | CORP              | CA        |  17355000 | PA      | $17224048.72  | 0.61%             | 2030-10-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Toledo Hospital/The          | Toledo Hospital/The                                                         | CUSIP: 889184AC1<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |  13875000 | PA      | $13362713.22  | 0.48%             | 2028-11-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST     | Service Properties Trust                                                    | CUSIP: 44106MAX0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |  17350000 | PA      | $15318699.48  | 0.55%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| LUMEN TECHNOLOGIES INC       | Lumen Technologies Inc                                                      | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |  15125000 | PA      | $11137898.75  | 0.40%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman           | Seagate HDD Cayman                                                          | CUSIP: 81180WAN1<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |  21250000 | PA      | $20525970.21  | 0.73%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Transocean Inc               | Transocean Inc                                                              | CUSIP: 893830AF6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |  17150000 | PA      | $12211657.50  | 0.44%             | 2031-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| CONSTELLATION INSURC INC     | Constellation Insurance Inc                                                 | CUSIP: 67740QAG1<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |  10850000 | PA      | $10818378.54  | 0.39%             | 2031-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| Nordstrom Inc                | Nordstrom Inc                                                               | CUSIP: 655664AH3<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13159194.10  | 0.47%             | 2028-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC      | Macy's Retail Holdings LLC                                                  | CUSIP: 55616XAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10825000 | PA      | $6510004.10   | 0.23%             | 2043-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| HILLENBRAND INC              | Hillenbrand Inc                                                             | CUSIP: 431571AB4<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |  16275000 | PA      | $16050974.63  | 0.57%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE     | Walgreens Boots Alliance Inc                                                | CUSIP: 931427AS7<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  21675000 | PA      | $20414646.00  | 0.73%             | 2030-04-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: —       |
| CELANESE US HOLDINGS LLC     | Celanese US Holdings LLC                                                    | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  40650000 | PA      | $40674629.43  | 1.45%             | 2030-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL       | Telecom Italia Capital SA                                                   | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  21650000 | PA      | $20927497.50  | 0.75%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-22

**Name of Applicant:** VanEck ETF Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer