# EDGAR Filing Document

**Accession Number:** 0001667919
**File Stem:** 0001752724-25-179429
**Filing Date:** 2025-7
**Character Count:** 133520
**Document Hash:** b61bcbc2b68252c5658bc1df3d730f6e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-179429.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001752724-25-179429

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND VIII
- **CENTRAL INDEX KEY:** 0001667919

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23147
- **FILM NUMBER:** 251151071

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

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

## Series and Classes Contracts Data

### First Trust Securitized Plus ETF (Series ID: S000068300)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000218639 | First Trust Securitized Plus ETF | DEED            |

## Nport-Ex

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments**

**May 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 62.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 62.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 62.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 62.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 62.8%** |
|  | **Collateralized Mortgage Obligations — 16.6%** | **Collateralized Mortgage Obligations — 16.6%** | **Collateralized Mortgage Obligations — 16.6%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $404775 | &nbsp;&nbsp;&nbsp; Series 4292, Class PB | 3.50% | 01/15/44 | $352193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351603 | &nbsp;&nbsp;&nbsp; Series 4639, Class HZ | 3.25% | 04/15/53 | 284889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp; Series 4753, Class HL | 3.00% | 02/15/48 | 352231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434920 | &nbsp;&nbsp;&nbsp; Series 4765, Class PZ | 3.00% | 01/15/48 | 332744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp; Series 5210, Class LB | 3.00% | 08/25/50 | 701053 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Seasoned Loans <br> Structured Transaction Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A2 | 3.00% | 05/25/35 | 1041802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class YF, 30 Day Average SOFR + 1.10% (a) (b) | 5.43% | 05/25/35 | 1401749 |
|  | Federal National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-56, Class FE, 30 Day Average SOFR + CSA + <br> 0.43% (b) | 4.87% | 07/25/36 | 74833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384714 | &nbsp;&nbsp;&nbsp; Series 2013-9, Class GZ | 3.50% | 02/25/43 | 344267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 486187 | &nbsp;&nbsp;&nbsp; Series 2013-21, Class EZ | 3.00% | 03/25/43 | 437181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp; Series 2015-32, Class PB | 3.00% | 05/25/45 | 518225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1033075 | &nbsp;&nbsp;&nbsp; Series 2022-66, Class CF, 30 Day Average SOFR + 0.80% (b) | 5.12% | 10/25/52 | 1000899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411425 | &nbsp;&nbsp;&nbsp; Series 2024-73, Class FB, 30 Day Average SOFR + 1.20% (b) | 5.52% | 10/25/54 | 407992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1367846 | &nbsp;&nbsp;&nbsp; Series 2024-84, Class FD, 30 Day Average SOFR + 1.15% (b) | 5.47% | 11/25/54 | 1360234 |
|  | Government National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp; Series 2013-39, Class DP | 2.50% | 03/20/43 | 346257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285326 | &nbsp;&nbsp;&nbsp; Series 2015-39, Class ZA | 3.50% | 03/20/45 | 259363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423032 | &nbsp;&nbsp;&nbsp; Series 2015-103, Class ZA | 3.50% | 07/20/45 | 348620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311757 | &nbsp;&nbsp;&nbsp; Series 2017-38, Class Z | 4.00% | 03/20/47 | 267677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388390 | &nbsp;&nbsp;&nbsp; Series 2017-117, Class ZN | 3.00% | 08/20/47 | 308326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330134 | &nbsp;&nbsp;&nbsp; Series 2018-97, Class DZ | 3.50% | 07/20/48 | 287492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483595 | &nbsp;&nbsp;&nbsp; Series 2021-125, Class EL | 1.50% | 07/20/51 | 291969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361582 | &nbsp;&nbsp;&nbsp; Series 2023-18, Class AZ | 4.75% | 02/20/53 | 319615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp; Series 2023-81, Class AL | 4.50% | 08/20/40 | 229276 |
|  |  |  |  | 11268887 |
|  | **Commercial Mortgage-Backed Securities — 0.0%** | **Commercial Mortgage-Backed Securities — 0.0%** | **Commercial Mortgage-Backed Securities — 0.0%** |  |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass-Through Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899805 | &nbsp;&nbsp;&nbsp; Series K732, Class X3, IO (c) | 2.20% | 05/25/46 | 1644 |
|  | FREMF Mortgage Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3719638 | &nbsp;&nbsp;&nbsp; Series 2017-K726, Class X2B, IO (a) | 0.10% | 07/25/49 | 1569 |
|  |  |  |  | 3213 |
|  | **Pass-Through Securities — 46.2%** | **Pass-Through Securities — 46.2%** | **Pass-Through Securities — 46.2%** |  |
|  | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41641 | &nbsp;&nbsp;&nbsp; Pool G08681  | 3.50% | 12/01/45 | 37939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21693 | &nbsp;&nbsp;&nbsp; Pool G08792  | 3.50% | 12/01/47 | 19652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76474 | &nbsp;&nbsp;&nbsp; Pool G60659  | 3.50% | 08/01/46 | 69676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90763 | &nbsp;&nbsp;&nbsp; Pool G61748  | 3.50% | 11/01/48 | 82346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105092 | &nbsp;&nbsp;&nbsp; Pool G67706  | 3.50% | 12/01/47 | 95617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136501 | &nbsp;&nbsp;&nbsp; Pool G67710  | 3.50% | 03/01/48 | 123751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848800 | &nbsp;&nbsp;&nbsp; Pool QC8921  | 2.50% | 10/01/51 | 701959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1330774 | &nbsp;&nbsp;&nbsp; Pool QD7088  | 2.00% | 02/01/52 | 1050270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367904 | &nbsp;&nbsp;&nbsp; Pool QE4038  | 3.00% | 06/01/52 | 313379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214706 | &nbsp;&nbsp;&nbsp; Pool RA5286  | 2.50% | 05/01/51 | 175456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265680 | &nbsp;&nbsp;&nbsp; Pool RA5552  | 3.00% | 07/01/51 | 227712 |

---

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** |  |
|  | Federal Home Loan Mortgage Corporation (Continued) | Federal Home Loan Mortgage Corporation (Continued) | Federal Home Loan Mortgage Corporation (Continued) | Federal Home Loan Mortgage Corporation (Continued) |
| $644358 | &nbsp;&nbsp;&nbsp; Pool RA7773  | 4.00% | 08/01/52 | $592120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93501 | &nbsp;&nbsp;&nbsp; Pool SD0499  | 3.00% | 08/01/50 | 81424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897901 | &nbsp;&nbsp;&nbsp; Pool SD0956  | 2.50% | 04/01/52 | 739264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425658 | &nbsp;&nbsp;&nbsp; Pool SD1382  | 4.00% | 08/01/52 | 391742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375610 | &nbsp;&nbsp;&nbsp; Pool SD2190  | 4.50% | 10/01/52 | 355254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45888 | &nbsp;&nbsp;&nbsp; Pool SD7502  | 3.50% | 07/01/49 | 41335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97276 | &nbsp;&nbsp;&nbsp; Pool SD7511  | 3.50% | 01/01/50 | 87540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59891 | &nbsp;&nbsp;&nbsp; Pool SD7513  | 3.50% | 04/01/50 | 54078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287947 | &nbsp;&nbsp;&nbsp; Pool SD8212  | 2.50% | 05/01/52 | 235086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650090 | &nbsp;&nbsp;&nbsp; Pool SD8256  | 4.00% | 10/01/52 | 597218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597458 | &nbsp;&nbsp;&nbsp; Pool SD8264  | 3.50% | 11/01/52 | 530635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1457099 | &nbsp;&nbsp;&nbsp; Pool SL1390  | 4.00% | 07/01/50 | 1361291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61373 | &nbsp;&nbsp;&nbsp; Pool ZM1779  | 3.00% | 09/01/46 | 53675 |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp;&nbsp;&nbsp; 1558382 | &nbsp;&nbsp;&nbsp; Pool AL9394  | 3.00% | 11/01/46 | 1348565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21643 | &nbsp;&nbsp;&nbsp; Pool BE3619  | 4.00% | 05/01/47 | 20215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1445814 | &nbsp;&nbsp;&nbsp; Pool BM4963  | 3.00% | 05/01/48 | 1261998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261200 | &nbsp;&nbsp;&nbsp; Pool BQ1163  | 2.00% | 08/01/50 | 205112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524871 | &nbsp;&nbsp;&nbsp; Pool BQ1226  | 2.00% | 09/01/50 | 411878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 627438 | &nbsp;&nbsp;&nbsp; Pool BU9074  | 2.00% | 01/01/52 | 492708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475254 | &nbsp;&nbsp;&nbsp; Pool BV4119  | 2.50% | 03/01/52 | 388880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217236 | &nbsp;&nbsp;&nbsp; Pool BV5358  | 2.50% | 04/01/52 | 178028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524183 | &nbsp;&nbsp;&nbsp; Pool BV8464  | 3.00% | 04/01/52 | 446774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1112184 | &nbsp;&nbsp;&nbsp; Pool BV8477  | 3.00% | 05/01/52 | 955298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522797 | &nbsp;&nbsp;&nbsp; Pool BV8515  | 3.00% | 05/01/52 | 445494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554082 | &nbsp;&nbsp;&nbsp; Pool BV9960  | 4.00% | 06/01/52 | 511302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258233 | &nbsp;&nbsp;&nbsp; Pool BW6293  | 4.50% | 08/01/52 | 244247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 481497 | &nbsp;&nbsp;&nbsp; Pool BW9886  | 4.50% | 10/01/52 | 455023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43380 | &nbsp;&nbsp;&nbsp; Pool CA0995  | 3.50% | 01/01/48 | 38708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473406 | &nbsp;&nbsp;&nbsp; Pool CA5689  | 3.00% | 05/01/50 | 412265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1007302 | &nbsp;&nbsp;&nbsp; Pool CB2411  | 2.50% | 12/01/51 | 832467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 458031 | &nbsp;&nbsp;&nbsp; Pool CB2430  | 3.00% | 12/01/51 | 390317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744461 | &nbsp;&nbsp;&nbsp; Pool CB2610  | 2.00% | 01/01/52 | 584870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482597 | &nbsp;&nbsp;&nbsp; Pool CB2802  | 2.00% | 02/01/52 | 380551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1110744 | &nbsp;&nbsp;&nbsp; Pool CB3151  | 2.00% | 03/01/52 | 875863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947730 | &nbsp;&nbsp;&nbsp; Pool CB3486  | 3.50% | 05/01/52 | 843768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102331 | &nbsp;&nbsp;&nbsp; Pool CB4365  | 3.50% | 08/01/52 | 91333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1410615 | &nbsp;&nbsp;&nbsp; Pool FA1348  | 4.50% | 09/01/52 | 1376382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1375000 | &nbsp;&nbsp;&nbsp; Pool FA1641  | 4.50% | 09/01/50 | 1324360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1215520 | &nbsp;&nbsp;&nbsp; Pool FS0139  | 2.50% | 01/01/52 | 1002807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353004 | &nbsp;&nbsp;&nbsp; Pool FS3160  | 3.00% | 06/01/52 | 303823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168950 | &nbsp;&nbsp;&nbsp; Pool FS3275  | 3.00% | 04/01/52 | 143911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850497 | &nbsp;&nbsp;&nbsp; Pool FS3781  | 2.00% | 11/01/51 | 666515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91702 | &nbsp;&nbsp;&nbsp; Pool FS6380  | 2.50% | 02/01/52 | 74898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167367 | &nbsp;&nbsp;&nbsp; Pool MA4731  | 3.50% | 09/01/52 | 148731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756784 | &nbsp;&nbsp;&nbsp; Pool MA4768  | 2.50% | 09/01/52 | 618142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390857 | &nbsp;&nbsp;&nbsp; Pool MA4784  | 4.50% | 10/01/52 | 369647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp; Pool TBA  | 4.00% | 06/15/55 | 760532 |

---

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** |  |
|  | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) |
| $420000 | &nbsp;&nbsp;&nbsp; Pool TBA  | 4.50% | 06/15/55 | $396180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Pool TBA  | 6.00% | 06/15/55 | 1009918 |
|  | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23813 | &nbsp;&nbsp;&nbsp; Pool MA4779  | 4.00% | 10/20/47 | 22034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 702311 | &nbsp;&nbsp;&nbsp; Pool MA7534  | 2.50% | 08/20/51 | 589092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 751086 | &nbsp;&nbsp;&nbsp; Pool MA7589  | 2.50% | 09/20/51 | 630005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731717 | &nbsp;&nbsp;&nbsp; Pool MA7767  | 2.50% | 12/20/51 | 613758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331325 | &nbsp;&nbsp;&nbsp; Pool MA8347  | 4.50% | 10/20/52 | 314776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 393539 | &nbsp;&nbsp;&nbsp; Pool MA9963  | 4.50% | 10/20/54 | 371595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761509 | &nbsp;&nbsp;&nbsp; Pool MA9964  | 5.00% | 10/20/54 | 739540 |
|  |  |  |  | 31310729 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 42582829 |
|  | (Cost $44,389,840) | (Cost $44,389,840) | (Cost $44,389,840) |  |
| **MORTGAGE-BACKED SECURITIES — 21.9%** | **MORTGAGE-BACKED SECURITIES — 21.9%** | **MORTGAGE-BACKED SECURITIES — 21.9%** | **MORTGAGE-BACKED SECURITIES — 21.9%** | **MORTGAGE-BACKED SECURITIES — 21.9%** |
|  | **Collateralized Mortgage Obligations — 12.4%** | **Collateralized Mortgage Obligations — 12.4%** | **Collateralized Mortgage Obligations — 12.4%** |  |
|  | Alternative Loan Trust | Alternative Loan Trust | Alternative Loan Trust | Alternative Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY8C, Class A1, 1 Mo. CME Term SOFR + CSA + <br> 0.32% (b) | 4.76% | 09/25/47 | 235093 |
|  | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430160 | &nbsp;&nbsp;&nbsp; Series 2006-1, Class 21A2 (c) | 4.57% | 02/25/36 | 307841 |
|  | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-25, Class 2A1, 1 Mo. CME Term SOFR + CSA + <br> 0.68% (b) | 5.12% | 02/25/35 | 147099 |
|  | CIM Trust | CIM Trust | CIM Trust | CIM Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp; Series 2023-R3, Class A1B (a) | 4.50% | 01/25/63 | 346181 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1019097 | &nbsp;&nbsp;&nbsp; Series 2021-RPL4, Class A1 (a) | 4.12% | 12/27/60 | 1015188 |
|  | EASY | EASY | EASY | EASY |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL1, Class A2, steps up to 9.30% on <br> 8/26/27 (a) (d) (e) | 8.30% | 05/25/40 | 999999 |
|  | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504678 | &nbsp;&nbsp;&nbsp; Series 2006-AR13, Class A3 (c) | 4.03% | 07/25/36 | 328762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397098 | &nbsp;&nbsp;&nbsp; Series 2006-AR31, Class A3 (c) | 4.16% | 11/25/36 | 371417 |
|  | Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341578 | &nbsp;&nbsp;&nbsp; Series 2021-GS5, Class A1, steps up to 6.25% on 11/25/25 (a) (e) | 5.25% | 07/25/67 | 340923 |
|  | Lehman XS Trust | Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-10N, Class 1A4A, 1 Mo. CME Term SOFR + CSA + <br> 0.60% (b) | 5.04% | 07/25/46 | 322515 |
|  | PRPM | PRPM | PRPM | PRPM |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class A2, steps up to 12.07% on <br> 05/01/28 (a) (d) (e) | 9.07% | 05/25/30 | 999976 |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RCF2, Class M1, steps up to 4.75% on <br> 03/25/28 (a) (e) | 3.75% | 03/25/54 | 347775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL3, Class M1, steps up to 5.00% on <br> 11/25/28 (a) (e) | 4.00% | 11/25/54 | 261948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL4, Class M1A, steps up to 4.00% on <br> 05/01/29 (a) (d) (e) | 3.00% | 05/25/55 | 1060245 |

---

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | RALI Trust | RALI Trust | RALI Trust | RALI Trust |
| $1010090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QH4, Class A1, 1 Mo. CME Term SOFR + CSA + <br> 0.38% (b) | 4.82% | 05/25/37 | $935531 |
|  | RFMSI Trust | RFMSI Trust | RFMSI Trust | RFMSI Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450095 | &nbsp;&nbsp;&nbsp; Series 2006-S10, Class 1A1 | 6.00% | 10/25/36 | 362892 |
|  |  |  |  | 8383385 |
|  | **Commercial Mortgage-Backed Securities — 9.5%** | **Commercial Mortgage-Backed Securities — 9.5%** | **Commercial Mortgage-Backed Securities — 9.5%** |  |
|  | BANK | BANK | BANK | BANK |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187000 | &nbsp;&nbsp;&nbsp; Series 2024-BNK47, Class C (c) | 6.61% | 06/15/57 | 188494 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp; Series 2024-5C25, Class AS | 6.36% | 03/15/57 | 218010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp; Series 2024-5C27, Class AS | 6.41% | 07/15/57 | 182407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp; Series 2024-5C29, Class AS | 5.63% | 09/15/57 | 223285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2024-C26, Class AS | 6.09% | 05/15/57 | 258054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp; Series 2024-C28, Class C | 6.29% | 09/15/57 | 292014 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp; Series 2020-B18, Class AGNF (a) | 4.14% | 07/15/53 | 114924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357000 | &nbsp;&nbsp;&nbsp; Series 2024-V8, Class C (c) | 6.95% | 07/15/57 | 370415 |
|  | BPR Trust | BPR Trust | BPR Trust | BPR Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp; Series 2024-PMDW, Class D (a) (c) | 5.85% | 11/05/41 | 252663 |
|  | BWAY Mortgage Trust | BWAY Mortgage Trust | BWAY Mortgage Trust | BWAY Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 15537940 | &nbsp;&nbsp;&nbsp; Series 2013-1515, Class XA, IO (a) (c) | 0.47% | 03/10/33 | 186350 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; Series 2020-VIV2, Class C (a) (c) | 3.54% | 03/09/44 | 182782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-XL2, Class J, 1 Mo. CME Term SOFR + CSA + <br> 3.89% (a) (b) | 8.33% | 10/15/38 | 172761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-KING, Class B, 1 Mo. CME Term SOFR + <br> 1.74% (a) (b) | 6.07% | 05/15/34 | 246679 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-VIEW, Class B, 1 Mo. CME Term SOFR + CSA + <br> 1.80% (a) (b) | 6.24% | 06/15/36 | 299705 |
|  | BXP Trust | BXP Trust | BXP Trust | BXP Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp; Series 2021-601L, Class A (a) | 2.62% | 01/15/44 | 237338 |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3840381 | &nbsp;&nbsp;&nbsp; Series 2016-P3, Class XA, IO (c) | 1.64% | 04/15/49 | 31942 |
|  | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938014 | &nbsp;&nbsp;&nbsp; Series 2012-CR4, Class XA, IO (c) (f) | 1.14% | 10/15/45 | 15188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 912961 | &nbsp;&nbsp;&nbsp; Series 2014-UBS3, Class XA, IO (c) (f) | 0.60% | 06/10/47 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11151000 | &nbsp;&nbsp;&nbsp; Series 2014-UBS3, Class XB, IO (a) (c) | 0.22% | 06/10/47 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp; Series 2015-LC21, Class XE, IO (a) (c) | 1.06% | 07/10/48 | 3279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp; Series 2020-CX, Class A (a) | 2.17% | 11/10/46 | 185963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp; Series 2024-277P, Class A (a) | 6.34% | 08/10/44 | 228225 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182000 | &nbsp;&nbsp;&nbsp; Series 2019-UVIL, Class B (a) (c) | 3.28% | 12/15/41 | 165419 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2230926 | &nbsp;&nbsp;&nbsp; Series 2016-C5, Class XA, IO (c) | 0.83% | 11/15/48 | 2084 |
|  | Grace Trust | Grace Trust | Grace Trust | Grace Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; Series 2020-GRCE, Class A (a) | 2.35% | 12/10/40 | 347191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2020-GRCE, Class X, IO (a) (c) | 0.30% | 12/10/40 | 14545 |

---

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| $1067938 | &nbsp;&nbsp;&nbsp; Series 2011-GC5, Class XA, IO (c) (g) (h) | 0.00% | 08/10/44 | $671 |
|  | Hilton U.S.A. Trust | Hilton U.S.A. Trust | Hilton U.S.A. Trust | Hilton U.S.A. Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp; Series 2016-HHV, Class F (a) (c) | 4.19% | 11/05/38 | 345584 |
|  | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp; Series 2019-OSB, Class A (a) | 3.40% | 06/05/39 | 241954 |
|  | JPMBB Commercial Mortgage Securities Trust | JPMBB Commercial Mortgage Securities Trust | JPMBB Commercial Mortgage Securities Trust | JPMBB Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717399 | &nbsp;&nbsp;&nbsp; Series 2015-C32, Class XA, IO (c) (f) | 1.08% | 11/15/48 | 23 |
|  | JPMCC Commercial Mortgage Securities Trust | JPMCC Commercial Mortgage Securities Trust | JPMCC Commercial Mortgage Securities Trust | JPMCC Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818836 | &nbsp;&nbsp;&nbsp; Series 2017-JP5, Class XA, IO (c) | 0.76% | 03/15/50 | 98356 |
|  | JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 5206009 | &nbsp;&nbsp;&nbsp; Series 2016-C2, Class XA, IO (c) | 1.47% | 06/15/49 | 36430 |
|  | Morgan Stanley Bank of America Merrill Lynch Trust | Morgan Stanley Bank of America Merrill Lynch Trust | Morgan Stanley Bank of America Merrill Lynch Trust | Morgan Stanley Bank of America Merrill Lynch Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 15852259 | &nbsp;&nbsp;&nbsp; Series 2015-C25, Class XA, IO (c) | 0.98% | 10/15/48 | 9017 |
|  | SFAVE Commercial Mortgage Securities Trust | SFAVE Commercial Mortgage Securities Trust | SFAVE Commercial Mortgage Securities Trust | SFAVE Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp; Series 2015-5AVE, Class A2B (a) (c) | 4.14% | 01/05/43 | 288095 |
|  | SLG Office Trust | SLG Office Trust | SLG Office Trust | SLG Office Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; Series 2021-OVA, Class D (a) | 2.85% | 07/15/41 | 126684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp; Series 2021-OVA, Class G (a) | 2.85% | 07/15/41 | 292002 |
|  | SMRT | SMRT | SMRT | SMRT |
| &nbsp;&nbsp; 105000000 | &nbsp;&nbsp;&nbsp; Series 2022-MINI, Class XCP, IO (c) (g) (h) | 0.00% | 01/15/39 | 110 |
|  | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-TWR, Class C, 1 Mo. CME Term SOFR + <br> 2.14% (a) (b) | 6.47% | 04/15/42 | 258138 |
|  | VLS Commercial Mortgage Trust | VLS Commercial Mortgage Trust | VLS Commercial Mortgage Trust | VLS Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp; Series 2020-LAB, Class B (a) | 2.45% | 10/10/42 | 176383 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1083252 | &nbsp;&nbsp;&nbsp; Series 2015-LC22, Class XA, IO (c) (f) | 0.64% | 09/15/58 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3354089 | &nbsp;&nbsp;&nbsp; Series 2016-C33, Class XA, IO (c) | 1.54% | 03/15/59 | 18531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5823000 | &nbsp;&nbsp;&nbsp; Series 2016-C37, Class XEF, IO (a) (c) | 1.60% | 12/15/49 | 117961 |
|  | WFRBS Commercial Mortgage Trust | WFRBS Commercial Mortgage Trust | WFRBS Commercial Mortgage Trust | WFRBS Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110803 | &nbsp;&nbsp;&nbsp; Series 2014-C22, Class XA, IO (c) (f) | 0.25% | 09/15/57 | 19 |
|  |  |  |  | 6429869 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 14813254 |
|  | (Cost $15,365,223) | (Cost $15,365,223) | (Cost $15,365,223) |  |
| **ASSET-BACKED SECURITIES — 11.4%** | **ASSET-BACKED SECURITIES — 11.4%** | **ASSET-BACKED SECURITIES — 11.4%** | **ASSET-BACKED SECURITIES — 11.4%** | **ASSET-BACKED SECURITIES — 11.4%** |
|  | AMSR Trust | AMSR Trust | AMSR Trust | AMSR Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp; Series 2020-SFR3, Class G (a) | 4.99% | 09/17/37 | 353045 |
|  | Ares LXII CLO Ltd. | Ares LXII CLO Ltd. | Ares LXII CLO Ltd. | Ares LXII CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-62A, Class B, 3 Mo. CME Term SOFR + <br> 1.91% (a) (b) | 6.19% | 01/25/34 | 300488 |
|  | BlueMountain CLO Ltd. | BlueMountain CLO Ltd. | BlueMountain CLO Ltd. | BlueMountain CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A, Class A2R, 3 Mo. CME Term SOFR + <br> 1.60% (a) (b) | 5.88% | 10/25/30 | 500965 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1637625 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class XA, IO (a) (c) | 2.94% | 07/15/54 | 54706 |
|  | Dryden 45 Senior Loan Fund | Dryden 45 Senior Loan Fund | Dryden 45 Senior Loan Fund | Dryden 45 Senior Loan Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-45A, Class CRR, 3 Mo. CME Term SOFR + <br> 1.95% (a) (b) | 6.21% | 10/15/30 | 251150 |

---

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Edgeconnex Data Centers Issuer LLC | Edgeconnex Data Centers Issuer LLC | Edgeconnex Data Centers Issuer LLC | Edgeconnex Data Centers Issuer LLC |
| $285250 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class A2 (a) | 4.25% | 03/25/52 | $274935 |
|  | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2025-3A, Class D | 5.57% | 10/15/31 | 1007673 |
|  | Flexential Issuer | Flexential Issuer | Flexential Issuer | Flexential Issuer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A2 (a) | 3.25% | 11/27/51 | 287200 |
|  | J.G. Wentworth LLC | J.G. Wentworth LLC | J.G. Wentworth LLC | J.G. Wentworth LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391975 | &nbsp;&nbsp;&nbsp; Series 2017-2A, Class B (a) | 5.09% | 09/17/74 | 351425 |
|  | Mastr Asset Backed Securities Trust | Mastr Asset Backed Securities Trust | Mastr Asset Backed Securities Trust | Mastr Asset Backed Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HE1, Class A4, 1 Mo. CME Term SOFR + CSA + <br> 0.56% (b) | 5.00% | 05/25/37 | 367156 |
|  | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1041508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE6, Class A2B, 1 Mo. CME Term SOFR + CSA + <br> 0.30% (b) | 4.40% | 11/25/37 | 327246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OPT1, Class A2D, 1 Mo. CME Term SOFR + CSA <br> + 0.48% (b) | 4.92% | 08/25/37 | 323191 |
|  | Navient Student Loan Trust | Navient Student Loan Trust | Navient Student Loan Trust | Navient Student Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp; Series 2015-3, Class B, 30 Day Average SOFR + 1.61% (b) | 5.94% | 10/25/58 | 303987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp; Series 2019-3A, Class B, 30 Day Average SOFR + 1.66% (a) (b) | 5.99% | 07/25/68 | 291998 |
|  | Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353604 | &nbsp;&nbsp;&nbsp; Series 2005-4, Class B, 90 Day Average SOFR + 0.54% (b) | 4.90% | 09/22/35 | 321550 |
|  | Oakwood Mortgage Investors, Inc. | Oakwood Mortgage Investors, Inc. | Oakwood Mortgage Investors, Inc. | Oakwood Mortgage Investors, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444237 | &nbsp;&nbsp;&nbsp; Series 1999-C, Class A2 | 7.48% | 08/15/27 | 331981 |
|  | Octagon Investment Partners XVI Ltd. | Octagon Investment Partners XVI Ltd. | Octagon Investment Partners XVI Ltd. | Octagon Investment Partners XVI Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-1A, Class A2R, 3 Mo. CME Term SOFR + CSA + <br> 1.40% (a) (b) | 5.94% | 07/17/30 | 350700 |
|  | Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-6, Class A2C, 1 Mo. CME Term SOFR + CSA + <br> 0.32% (b) | 4.76% | 09/25/37 | 242944 |
|  | PRET LLC | PRET LLC | PRET LLC | PRET LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-RN1, Class A1, steps up to 7.72% on <br> 02/25/26 (a) (e) | 6.72% | 07/25/51 | 293093 |
|  | SLM Student Loan Trust | SLM Student Loan Trust | SLM Student Loan Trust | SLM Student Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2008-4, Class B, 90 Day Average SOFR + CSA + <br> 1.85% (b) | 6.47% | 04/25/73 | 68884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2008-5, Class B, 90 Day Average SOFR + CSA + <br> 1.85% (b) | 6.47% | 07/25/73 | 65941 |
|  | Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AB3, Class A2C, 1 Mo. CME Term SOFR + CSA + <br> 0.48% (b) | 4.92% | 09/25/37 | 248101 |
|  | Textainer Marine Containers VII Ltd. | Textainer Marine Containers VII Ltd. | Textainer Marine Containers VII Ltd. | Textainer Marine Containers VII Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57534 | &nbsp;&nbsp;&nbsp; Series 2020-3A, Class A (a) | 2.11% | 09/20/45 | 53686 |
|  | Vault DI Issuer LLC | Vault DI Issuer LLC | Vault DI Issuer LLC | Vault DI Issuer LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A2 (a) | 2.80% | 07/15/46 | 255374 |
|  | Wachovia Student Loan Trust | Wachovia Student Loan Trust | Wachovia Student Loan Trust | Wachovia Student Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359762 | &nbsp;&nbsp;&nbsp; Series 2006-1, Class B, 90 Day Average SOFR + 0.50% (a) (b) | 4.86% | 04/25/40 | 333005 |
|  | Ziply Fiber Issuer LLC | Ziply Fiber Issuer LLC | Ziply Fiber Issuer LLC | Ziply Fiber Issuer LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class B (a) | 7.81% | 04/20/54 | 155575 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 7715999 |
|  | (Cost $8,549,657) | (Cost $8,549,657) | (Cost $8,549,657) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **EXCHANGE-TRADED FUNDS — 1.0%** | **EXCHANGE-TRADED FUNDS — 1.0%** | **EXCHANGE-TRADED FUNDS — 1.0%** |
|  | **Capital Markets — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000 | First Trust Commercial Mortgage Opportunities ETF (i) | $405600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12000 | First Trust Structured Credit Income Opportunities ETF (i) | 245081 |
|  | **Total Exchange-Traded Funds** | 650681 |
|  | (Cost $651,437) |  |
| **MONEY MARKET FUNDS — 7.4%** | **MONEY MARKET FUNDS — 7.4%** | **MONEY MARKET FUNDS — 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1413098 | Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (j) | 1413098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3588846 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.16% (j) | 3588846 |
|  | **Total Money Market Funds** | 5001944 |
|  | (Cost $5,001,944) |  |
|  | **Total Investments — 104.5%** | 70764707 |
|  | (Cost $73,958,101) |  |
|  | **Net Other Assets and Liabilities — (4.5)%** | (3016948)<br>|
|  | **Net Assets — 100.0%** | $67747759 |

---

**Futures Contracts at May 31, 2025:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 8 | Sep-2025 | &nbsp;&nbsp; $1659500 | &nbsp;&nbsp; $1465 |
| U.S. 5-Year Treasury Notes | 2 | Sep-2025 | &nbsp;&nbsp; 216375 | &nbsp;&nbsp; 191 |
| U.S. Treasury Bond Futures | 11 | Sep-2025 | &nbsp;&nbsp; 1240594 | &nbsp;&nbsp; 9189 |
| Ultra 10-Year U.S. Treasury Notes | 53 | Sep-2025 | &nbsp;&nbsp; 5964984 | &nbsp;&nbsp; 28612 |
| Ultra U.S. Treasury Bond Futures | 5 | Sep-2025 | &nbsp;&nbsp; 580313 | &nbsp;&nbsp; 4993 |
|  |  |  | &nbsp;&nbsp; $9661766 | &nbsp;&nbsp; $44450 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| U.S. 10-Year Treasury Notes | 18 | Sep-2025 | &nbsp;&nbsp; $(1993500)<br>| &nbsp;&nbsp; $(4273)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $7668266 | &nbsp;&nbsp; $40177 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This security, sold within the terms of a private placement memorandum, is exempt
 from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the "1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. (the "Advisor"). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined
 based on security specific factors and assumptions, which require subjective judgment. At May 31, 2025, securities noted
 as such amounted to $15,367,673 or 22.7% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Floating or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(d) This security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940
 and rules thereunder, as amended. At May 31, 2025, securities noted as such are valued at $3,060,220 or 4.5% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Step-up security. A security where the coupon increases or steps up at a predetermined
 date.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by the Advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Restricted security as to resale, excluding Rule 144A securities (see Restricted Securities
 table).

&nbsp;&nbsp;&nbsp;&nbsp;(h) This security, sold within the terms of a private placement memorandum, is exempt
 from registration upon resale under Rule 144A of the 1933 Act, and may be resold in transactions exempt from registration,
 normally to qualified institutional buyers (see Restricted Securities table).

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(i) Investment in an affiliated fund.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Rate shown reflects yield as of May 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| SOFR | – Secured Overnight Financing Rate |
| TBA | – To-Be-Announced Security |

---

------

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

A summary of the inputs used to value the Fund's investments as of May 31, 2025 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**5/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| &nbsp;&nbsp;&nbsp; U.S. Government Agency Mortgage-Backed <br> Securities<br>| $42582829 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $42582829 | &nbsp;&nbsp; $— |
| Mortgage-Backed Securities | 14813254 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14813254 | &nbsp;&nbsp; — |
| Asset-Backed Securities | 7715999 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7715999 | &nbsp;&nbsp; — |
| Exchange-Traded Funds\* | 650681 | &nbsp;&nbsp; 650681 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Money Market Funds | 5001944 | &nbsp;&nbsp; 5001944 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | 70764707 | &nbsp;&nbsp; 5652625 | &nbsp;&nbsp; 65112082 | &nbsp;&nbsp; — |
| Futures Contracts | 44450 | &nbsp;&nbsp; 44450 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total | $70809157 | &nbsp;&nbsp; $5697075 | &nbsp;&nbsp; $65112082 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**5/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Futures Contracts | $(4273)<br>| &nbsp;&nbsp; $(4273)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

------

**First Trust Securitized Plus ETF (DEED)**

**Portfolio of Investments (Continued)**

**May 31, 2025 (Unaudited)**

------

**Restricted Securities**

As of May 31, 2025, the Fund held restricted securities as shown in the following table that the Advisor deemed illiquid pursuant to procedures adopted by the Trust's Board of Trustees:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Security | Acquisition <br>Date<br>| Principal <br>Value<br>| Current <br>Price<br>| Carrying <br>Cost<br>| Value | % of <br>Net Assets<br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust, <br> Series 2011-GC5, Class XA, IO, <br> 08/10/44<br>| 05/19/20 | &nbsp;&nbsp; $1067938 | &nbsp;&nbsp; $0.00<br> \*<br>| &nbsp;&nbsp; $0 | &nbsp;&nbsp; $671 | 0.00<br> %\*\*<br>|
| &nbsp;&nbsp;&nbsp; SMRT, Series 2022-MINI, <br> Class XCP, IO, 01/15/39<br>| 01/24/22 | &nbsp;&nbsp; 105000000 | 0.00<br> \*<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 110 | 0.00<br> \*\*<br>|
|  |  |  |  | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $781 | 0.00<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Amount is less than $0.01.

\*\* Amount is less than 0.01%.

------

**Affiliated Transactions**

Amounts relating to investments in affiliated funds at May 31, 2025, and for the fiscal year-to-date period (September 1, 2024 to May 31, 2025) are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Name | Shares at <br>5/31/2025<br>| Value at <br>8/31/2024<br>| Purchases | Sales | Change in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Realized <br>Gain <br>(Loss)<br>| Value at <br>5/31/2025<br>| Dividend <br>Income<br>|
| &nbsp;&nbsp;&nbsp; First Trust Commercial Mortgage Opportunities <br> ETF<br>| 20000 | $— | $406605 | $— | $(1005)<br>| $— | $405600 | $2200 |
| &nbsp;&nbsp;&nbsp; First Trust Structured Credit Income <br> Opportunities ETF<br>| 12000 |  | 244832 |  | 249 |  | 245081 | 1380 |
|  |  | $— | $651437 | $— | $(756)<br>| $— | $650681 | $3580 |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-23147

- **c. CIK number of Registrant:** 0001667919

- **d. LEI of Registrant:** 549300NT36PJKGP5Y765

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

  - **Street Address 1:** 120 East Liberty Drive

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

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

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

- **a. Name of Series:** First Trust TCW Securitized Plus ETF

- **b. EDGAR series identifier (if any):** S000068300

- **c. LEI of Series:** 549300HEXD4P8KFVEV63

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $73028199.34

**Total Liabilities:** $5269954.39

**Net Assets:** $67758244.95

**Delayed Delivery Securities:** $1346506.95

**Stand-by Commitments:** $2159043.64

**Cash Not Reported:** $215.31

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 10.04965000 | **1-Year:** 785.97816000 | **5-Year:** 19348.73466000 | **10-Year:** 12117.98684000 | **30-Year:** 383.94940000

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

- **3-Month:** 10.41608000 | **1-Year:** 541.07166000 | **5-Year:** 2605.62456000 | **10-Year:** 941.11780000 | **30-Year:** 41.95422000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000218639 | -0.02%               | 0.17%                | -0.92%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $146734.56               | $-309763.59                                |
| Month 2  | $-671772.95              | $266846.15                                 |
| Month 3  | $-1960125.04             | $1248528.38                                |

**Designated Index Information**

- **Index Name:** The Fund's Designated Reference Portfolio is the Fund's Securities Portfolio.

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 10YR NOTE (CBT)                                                 | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -18 | NC      | $-4272.95     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36180AB85<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    393539 | PA      | $371594.92    | 0.55%             | 2054-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                       | SLG Office Trust 2021-OVA                                          | CUSIP: 78449RAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $126683.73    | 0.19%             | 2041-07-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36179WNE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    751086 | PA      | $630004.93    | 0.93%             | 2051-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DWFD0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    597458 | PA      | $530635.48    | 0.78%             | 2052-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XV                         | Octagon Investment Partners XVI Ltd                                | CUSIP: 67590BAS9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $350700.00    | 0.52%             | 2030-07-17      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36179WTY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    731717 | PA      | $613758.48    | 0.91%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38380GHX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    388390 | PA      | $308326.23    | 0.46%             | 2047-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                 | CUSIP: 3137H6ZG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    925000 | PA      | $701053.43    | 1.03%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38384BAG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    235000 | PA      | $229276.32    | 0.34%             | 2040-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3133KL2T3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    214706 | PA      | $175455.68    | 0.26%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                           | CSMC 2021-RPL4 Trust                                               | CUSIP: 12662GAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1019097 | PA      | $1015187.85   | 1.50%             | 2060-12-27      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                          | Citigroup Commercial Mortgage Trust 2016-P3                        | CUSIP: 29429CAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3840381 | PA      | $31941.60     | 0.05%             | 2049-04-15      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 3136BTBD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    412702 | PA      | $409258.31    | 0.60%             | 2054-10-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investo                         | Merrill Lynch Mortgage Investors Trust Series 2006-OPT1            | CUSIP: 59022VAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $323190.96    | 0.48%             | 2037-08-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2014-UBS3 Mortgage Trust                                      | CUSIP: 12591YBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    912961 | PA      | $23.01        | 0.00%             | 2047-06-10      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38378JUG5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    460000 | PA      | $346256.81    | 0.51%             | 2043-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Tru                         | IndyMac INDX Mortgage Loan Trust 2006-AR13                         | CUSIP: 45661XAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    504678 | PA      | $328762.15    | 0.49%             | 2036-07-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                | Dryden 45 Senior Loan Fund                                         | CUSIP: 26244MBC5<br>LEI: 54930046L20VLJKPVV31 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $251150.29    | 0.37%             | 2030-10-15      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                              | CUSIP: 3128MJ3A6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21693 | PA      | $19652.21     | 0.03%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MQB65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    554082 | PA      | $511302.01    | 0.75%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                      | PRPM 2025-RPL4 LLC                                                 | CUSIP: 74448NAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1060244.63   | 1.56%             | 2055-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| WACHOVIA STUDENT LOAN TRUST                            | Wachovia Student Loan Trust 2006-1                                 | CUSIP: 92978JAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    359762 | PA      | $333005.01    | 0.49%             | 2040-04-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                         | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-OSB    | CUSIP: 46651EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $241953.71    | 0.36%             | 2039-06-05      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QMVD3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1007302 | PA      | $832466.73    | 1.23%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2020-B18 Mortgage Trust                                  | CUSIP: 08163ABR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    117000 | PA      | $114923.68    | 0.17%             | 2053-07-15      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, In                         | RALI Series 2007-QH4 Trust                                         | CUSIP: 74922TAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010090 | PA      | $935531.44    | 1.38%             | 2037-05-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                         | BBCMS Mortgage Trust 2024-C28                                      | CUSIP: 07336WBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $292013.91    | 0.43%             | 2057-09-15      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| Lehman XS Trust                                        | Lehman XS Trust Series 2006-10N                                    | CUSIP: 525229AG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    483573 | PA      | $322514.57    | 0.48%             | 2046-07-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140XNCS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91702 | PA      | $74897.71     | 0.11%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                         | Wells Fargo Commercial Mortgage Trust 2016-C37                     | CUSIP: 95000PAP9<br>LEI: 549300TRQQDPEF728F16 | Long             | ABS-MBS          | CORP              | US        |   5823000 | PA      | $117961.17    | 0.17%             | 2049-12-15      | Variable      | 1.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 31418EJN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    756784 | PA      | $618141.49    | 0.91%             | 2052-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38382WHB6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    483595 | PA      | $291969.32    | 0.43%             | 2051-07-20      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                 | SLM Student Loan Trust 2008-4                                      | CUSIP: 78445AAE6<br>LEI: 549300EQOYJZL2D96G46 | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $68883.79     | 0.10%             | 2073-04-25      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DVK20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     59891 | PA      | $54078.01     | 0.08%             | 2050-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                       | Hilton USA Trust 2016-HHV                                          | CUSIP: 43300LAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    360000 | PA      | $345583.76    | 0.51%             | 2038-11-05      | Variable      | 4.19%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MNMN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    524183 | PA      | $446773.66    | 0.66%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DPNF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    375610 | PA      | $355254.34    | 0.52%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                              | CUSIP: 3128MJXK1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     41641 | PA      | $37938.78     | 0.06%             | 2045-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                         | JPMBB Commercial Mortgage Securities Trust 2015-C32                | CUSIP: 46590JAY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    717399 | PA      | $23.03        | 0.00%             | 2048-11-15      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                      | PRPM 2024-RCF2 LLC                                                 | CUSIP: 693987AD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $347775.45    | 0.51%             | 2054-03-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                 | CHL Mortgage Pass-Through Trust 2007-20                            | CUSIP: 12544QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        25 | PA      | $11.02        | 0.00%             | 2038-01-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140XFEM9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1215520 | PA      | $1002807.00   | 1.48%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                                             | AMSR 2020-SFR3 Trust                                               | CUSIP: 001807AH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $353045.26    | 0.52%             | 2037-09-17      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC                                 | Flexential Issuer 2021-1                                           | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $287200.23    | 0.42%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management                     | Dreyfus Government Cash Management                                 | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   1413098 | NS      | $1413097.52   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 3136BN6P6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1050145 | PA      | $1017438.02   | 1.50%             | 2052-10-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                              | CUSIP: 3132XCR31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    105092 | PA      | $95617.45     | 0.14%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                         | CSAIL 2016-C5 Commercial Mortgage Trust                            | CUSIP: 12636LBA7<br>LEI: 549300FU8TZDHFLQZL50 | Long             | ABS-MBS          | CORP              | US        |   2230926 | PA      | $2083.91      | 0.00%             | 2048-11-15      | Variable      | 0.83%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                           | Ares LXII CLO Ltd                                                  | CUSIP: 00192WAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300487.66    | 0.44%             | 2034-01-25      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust 2011-GC5                              | CUSIP: 36191YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1067938 | PA      | $670.88       | 0.00%             | 2044-08-10      | Variable      | 0.01%                 | Yes           |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2020-CX Mortgage Trust                                        | CUSIP: 12656KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $185963.18    | 0.27%             | 2046-11-10      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2024-277P Mortgage Trust                                      | CUSIP: 12654FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    219000 | PA      | $228225.33    | 0.34%             | 2044-08-10      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 31418EJ68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    390857 | PA      | $369646.82    | 0.55%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                         | BBCMS Mortgage Trust 2024-C26                                      | CUSIP: 05555AAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $258054.15    | 0.38%             | 2057-05-15      | Variable      | 6.09%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2014-UBS3 Mortgage Trust                                      | CUSIP: 12591YAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11151000 | PA      | $150.54       | 0.00%             | 2047-06-10      | Variable      | 0.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140XJQN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    353004 | PA      | $303823.01    | 0.45%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QNDG4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    482597 | PA      | $380550.96    | 0.56%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 3136ACQW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    486187 | PA      | $437180.92    | 0.65%             | 2043-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140N26Y2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    481497 | PA      | $455023.05    | 0.67%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Textainer Marine Containers Li                         | Textainer Marine Containers VII Ltd                                | CUSIP: 88315LAJ7<br>LEI: 549300X48KLHDDGPK024 | Long             | ABS-O            | CORP              | BM        |     57534 | PA      | $53686.11     | 0.08%             | 2045-09-20      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                          | Exeter Automobile Receivables Trust                                | CUSIP: 30166XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1007672.60   | 1.49%             | 2031-10-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                   | BlueMountain CLO 2018-3 Ltd                                        | CUSIP: 09630AAQ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500965.32    | 0.74%             | 2030-10-25      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Alt-A Trust                               | Bear Stearns ALT-A Trust 2006-1                                    | CUSIP: 07386HB83<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    430160 | PA      | $307841.32    | 0.45%             | 2036-02-25      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DMRU1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     93501 | PA      | $81424.18     | 0.12%             | 2050-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DWE58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    650090 | PA      | $597217.97    | 0.88%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SMRT                                                   | SMRT 2022-MINI                                                     | CUSIP: 78457JAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 105000000 | PA      | $110.25       | 0.00%             | 2039-01-15      | Variable      | 0.01%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                 | CUSIP: 3137B75V7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    404775 | PA      | $352193.07    | 0.52%             | 2044-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 3136BTTR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1373923 | PA      | $1366277.44   | 2.02%             | 2054-11-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                              | BXP Trust 2021-601L                                                | CUSIP: 05607TAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    280000 | PA      | $237337.58    | 0.35%             | 2044-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                      | PRPM 2021-11 LLC                                                   | CUSIP: 69362QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    248902 | PA      | $249032.68    | 0.37%             | 2026-11-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DNRB1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    425658 | PA      | $391742.03    | 0.58%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                         | Wells Fargo Commercial Mortgage Trust 2015-LC22                    | CUSIP: 94989TBC7<br>LEI: 549300XO83D3BDYP0P62 | Long             | ABS-MBS          | CORP              | US        |   1083252 | PA      | $20.80        | 0.00%             | 2058-09-15      | Variable      | 0.64%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3131XU6Q5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     61372 | PA      | $53674.96     | 0.08%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140XKFX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    850497 | PA      | $666515.08    | 0.98%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38376MVF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    311757 | PA      | $267676.59    | 0.40%             | 2047-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MBCL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    627438 | PA      | $492707.58    | 0.73%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                             | Navient Student Loan Trust 2015-3                                  | CUSIP: 63939LAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320000 | PA      | $303987.42    | 0.45%             | 2058-10-25      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140FPAV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21643 | PA      | $20215.38     | 0.03%             | 2047-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QN2U5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    947730 | PA      | $843767.77    | 1.25%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                              | CUSIP: 31335AWU8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76474 | PA      | $69676.25     | 0.10%             | 2046-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bank                                                   | BANK 2024-BNK47                                                    | CUSIP: 06540GBA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    187000 | PA      | $188494.41    | 0.28%             | 2057-06-15      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| First Trust Commercial Mortgage Opportunities ETF      | First Trust Commercial Mortgage Opportunities ETF                  | CUSIP: 33738D762<br>LEI: 254900TMRGSMLWIAPA66 | Long             | EC               | RF                | US        |     20000 | NS      | $405600.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MNM37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1112184 | PA      | $955297.56    | 1.41%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 31418EHH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167367 | PA      | $148731.38    | 0.22%             | 2052-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VLS Commercial Mortgage Trust                          | VLS Commercial Mortgage Trust 2020-LAB                             | CUSIP: 92858TAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $176382.73    | 0.26%             | 2042-10-10      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Tru                         | IndyMac INDX Mortgage Loan Trust 2006-AR31                         | CUSIP: 45667QAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    394283 | PA      | $368784.26    | 0.54%             | 2036-11-25      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| EASY 2025-RTL1                                         | EASY 2025-RTL1                                                     | CUSIP: 27786FAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999999.40    | 1.48%             | 2040-05-25      | Variable      | 8.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140Q8C94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43380 | PA      | $38708.21     | 0.06%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                       | SLG Office Trust 2021-OVA                                          | CUSIP: 78449RAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $292002.13    | 0.43%             | 2041-07-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2015-LC21 Mortgage Trust                                      | CUSIP: 12593FAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7000000 | PA      | $3278.80      | 0.00%             | 2048-07-10      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38380XH91<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    330134 | PA      | $287491.93    | 0.42%             | 2048-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 31427NRL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1457099 | PA      | $1361291.04   | 2.01%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                         | BBCMS Mortgage Trust 2024-5C25                                     | CUSIP: 05554VAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210000 | PA      | $218010.11    | 0.32%             | 2057-03-15      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2024-KING                             | CUSIP: 05612RAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    246752 | PA      | $246678.72    | 0.36%             | 2034-05-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3133KPT65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    644358 | PA      | $592120.35    | 0.87%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS Commercial Mortgage Trus                         | TEXAS Commercial Mortgage Trust 2025-TWR                           | CUSIP: 88231WAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $258138.53    | 0.38%             | 2042-04-15      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38379LEA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    285326 | PA      | $259362.85    | 0.38%             | 2045-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Benchmark 2024-V8 Mortgage Tru                         | Benchmark 2024-V8 Mortgage Trust                                   | CUSIP: 08190AAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    357000 | PA      | $370415.27    | 0.55%             | 2057-07-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Oakwood Mortgage Investors Inc                         | Oakwood Mortgage Investors Inc                                     | CUSIP: 67087TAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    444237 | PA      | $331980.63    | 0.49%             | 2027-08-15      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                         | PRET 2022-RN1 LLC                                                  | CUSIP: 69363JAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    292730 | PA      | $293092.48    | 0.43%             | 2051-07-25      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2012-CCRE4 Mortgage Trust                                     | CUSIP: 12624QAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    938014 | PA      | $15188.14     | 0.02%             | 2045-10-15      | Variable      | 1.14%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US ULTRA BOND CBT                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         5 | NC      | $4993.34      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac                              | Fannie Mae or Freddie Mac                                          | CUSIP: 01F042665<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    420000 | PA      | $396180.43    | 0.58%             | 2055-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T                         | Alternative Loan Trust 2007-HY8C                                   | CUSIP: 02150XAA9<br>LEI: 549300WVYUN6JZ4UKU34 | Long             | ABS-MBS          | CORP              | US        |    254810 | PA      | $235092.51    | 0.35%             | 2047-09-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3138ERNL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1558382 | PA      | $1348564.58   | 1.99%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3133KMEZ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    265680 | PA      | $227711.53    | 0.34%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PRP ADVISORS, LLC                                      | PRPM 2025-3                                                        | CUSIP: 74449DAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999976.10    | 1.48%             | 2030-05-25      | Variable      | 9.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QPZ75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    102331 | PA      | $91332.71     | 0.13%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QMVY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    458031 | PA      | $390316.60    | 0.58%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                             | Navient Student Loan Trust 2019-3                                  | CUSIP: 63941VAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $291998.02    | 0.43%             | 2068-07-25      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140J9QR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1445814 | PA      | $1261998.26   | 1.86%             | 2048-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST                                     | Seasoned Loans Structured Transaction Trust Series 2025-1          | CUSIP: 35564CUE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1250000 | PA      | $1041801.63   | 1.54%             | 2035-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 10YR ULTRA                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        53 | NC      | $28611.58     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 3136ANQB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    625000 | PA      | $518225.13    | 0.76%             | 2045-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Vault DI Issuer LLC                                    | Vault DI Issuer LLC                                                | CUSIP: 92243JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265000 | PA      | $255374.19    | 0.38%             | 2046-07-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36180AB93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    761509 | PA      | $739540.17    | 1.09%             | 2054-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ziply Fiber Issuer, LLC                                | Ziply Fiber Issuer LLC                                             | CUSIP: 98979QAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $155574.66    | 0.23%             | 2054-04-20      | Fixed         | 7.81%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36179XHY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    331325 | PA      | $314776.10    | 0.46%             | 2052-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                      | PRPM 2024-RPL3 LLC                                                 | CUSIP: 69381LAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $261947.72    | 0.39%             | 2054-11-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                              | CUSIP: 3132XCR72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136501 | PA      | $123751.31    | 0.18%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36179TJY2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23813 | PA      | $22033.75     | 0.03%             | 2047-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                              | Fannie Mae or Freddie Mac                                          | CUSIP: 01F060667<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $1009917.71   | 1.49%             | 2055-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Residential Funding Mtg Sec I                          | RFMSI Series 2006-S10 Trust                                        | CUSIP: 74958DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450095 | PA      | $362891.69    | 0.54%             | 2036-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US LONG BOND(CBT)                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        11 | NC      | $9189.25      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac - SLST                                     | Seasoned Loans Structured Transaction Trust Series 2025-1          | CUSIP: 35564CWZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1400000 | PA      | $1401749.02   | 2.07%             | 2035-05-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                         | Freddie Mac Multifamily Structured Pass Through Certificates       | CUSIP: 3137FG7J8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    899805 | PA      | $1644.48      | 0.00%             | 2046-05-25      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MHSH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    475254 | PA      | $388879.52    | 0.57%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                              | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25        | CUSIP: 61765TAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15852259 | PA      | $9016.77      | 0.01%             | 2048-10-15      | Variable      | 0.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QNQD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1110744 | PA      | $875862.78    | 1.29%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                 | SLM Student Loan Trust 2008-5                                      | CUSIP: 78444YAE5<br>LEI: 549300SRMXHPGI3BJ386 | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $65941.25     | 0.10%             | 2073-07-25      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140KLJH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    261200 | PA      | $205112.19    | 0.30%             | 2050-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SFAVE Commercial Mortgage Secu                         | SFAVE Commercial Mortgage Securities Trust 2015-5AVE               | CUSIP: 78413MAE8<br>LEI: 549300FIGODFFTOAAU64 | Long             | ABS-MBS          | CORP              | US        |    340000 | PA      | $288094.99    | 0.43%             | 2043-01-05      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                              | BPR Trust 2024-PMDW                                                | CUSIP: 05592VAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $252663.53    | 0.37%             | 2041-11-05      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DNBZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    897901 | PA      | $739263.56    | 1.09%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 5YR NOTE (CBT)                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         2 | NC      | $190.47       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Structured Credit Income Opportunities ETF | First Trust Structured Credit Income Opportunities ETF             | CUSIP: 33738D770<br>LEI: 2549004N8C03JQQ2OB54 | Long             | EC               | RF                | US        |     12000 | NS      | $245080.80    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3133B42V6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1330774 | PA      | $1050269.84   | 1.55%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140W1ZF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1375000 | PA      | $1324360.06   | 1.95%             | 2050-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                              | CUSIP: 31335B5H5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     90763 | PA      | $82345.70     | 0.12%             | 2048-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                              | Nelnet Student Loan Trust 2005-4                                   | CUSIP: 64031QCL3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    353604 | PA      | $321550.00    | 0.47%             | 2035-09-22      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| WF-RBS COMMERCIAL MORTGAGE TRU                         | WFRBS Commercial Mortgage Trust 2014-C22                           | CUSIP: 92890KBD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110803 | PA      | $18.86        | 0.00%             | 2057-09-15      | Variable      | 0.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QM3U6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    744461 | PA      | $584869.94    | 0.86%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140XJT94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    168950 | PA      | $143911.17    | 0.21%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                         | JPMCC Commercial Mortgage Securities Trust 2017-JP5                | CUSIP: 46647TAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8818836 | PA      | $98355.59     | 0.15%             | 2050-03-15      | Variable      | 0.76%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DVKY0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     97276 | PA      | $87539.92     | 0.13%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 2YR NOTE (CBT)                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         8 | NC      | $1465.01      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Countrywide Home Loans                                 | CHL Mortgage Pass-Through Trust 2004-25                            | CUSIP: 12669GKF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    161247 | PA      | $147098.89    | 0.22%             | 2035-02-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2021-XL2                              | CUSIP: 05609KAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $172760.85    | 0.25%             | 2038-10-15      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Trust 2021-VIEW                                                 | CUSIP: 05606GAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $299705.37    | 0.44%             | 2036-06-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MNN93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    522797 | PA      | $445494.04    | 0.66%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140QDKB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    473406 | PA      | $412265.45    | 0.61%             | 2050-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Specialty Underwriting & Resid                         | Specialty Underwriting & Residential Finance Trust Series 2006-AB3 | CUSIP: 84751XAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    362012 | PA      | $248101.08    | 0.37%             | 2037-09-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                    | BWAY 2013-1515 Mortgage Trust                                      | CUSIP: 05604FAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15537940 | PA      | $186349.63    | 0.28%             | 2033-03-10      | Variable      | 0.47%                 | No            |                  2 | On Loan: No      |
| MSILF Treasury Portfolio                               | MSILF Treasury Portfolio                                           | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |   3588846 | NS      | $3588845.62   | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Commercial Mortgage S                         | BBCMS Mortgage Trust 2024-5C29                                     | CUSIP: 05555PAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $223285.02    | 0.33%             | 2057-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                              | Fannie Mae or Freddie Mac                                          | CUSIP: 01F040669<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    830000 | PA      | $760531.76    | 1.12%             | 2055-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investo                         | Merrill Lynch Mortgage Investors Trust Series 2006-HE6             | CUSIP: 59023XAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1041508 | PA      | $327246.31    | 0.48%             | 2037-11-25      | Floating      | 3.99%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3133BDPX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    367904 | PA      | $313378.94    | 0.46%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                           | CSMC Series 2019-UVIL                                              | CUSIP: 12656DAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    182000 | PA      | $165419.40    | 0.24%             | 2041-12-15      | Variable      | 3.28%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MX7F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    258233 | PA      | $244246.59    | 0.36%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 31395NXU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     75324 | PA      | $74833.20     | 0.11%             | 2036-07-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgage                         | MASTR Adjustable Rate Mortgages Trust 2006-OA2                     | CUSIP: 55275NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3923 | PA      | $2907.80      | 0.00%             | 2046-12-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140KLLG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    524871 | PA      | $411877.98    | 0.61%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                   | FREMF 2017-K726 Mortgage Trust                                     | CUSIP: 35708TAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3719638 | PA      | $1568.94      | 0.00%             | 2049-07-25      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd                          | CoreVest American Finance 2021-2 Trust                             | CUSIP: 21873BAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1637625 | PA      | $54705.68     | 0.08%             | 2054-07-15      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DVKP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     45888 | PA      | $41335.07     | 0.06%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Gracechurch Mortgage Finance P                         | Grace Trust 2020-GRCE                                              | CUSIP: 38406JAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $14544.71     | 0.02%             | 2040-12-10      | Variable      | 0.30%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu                         | JPMDB Commercial Mortgage Securities Trust 2016-C2                 | CUSIP: 46590LAV4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5206009 | PA      | $36430.09     | 0.05%             | 2049-06-15      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust                            | Legacy Mortgage Asset Trust 2021-GS5                               | CUSIP: 52475XAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    341578 | PA      | $340923.00    | 0.50%             | 2067-07-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                 | CUSIP: 3137FEQ29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    434920 | PA      | $332743.49    | 0.49%             | 2048-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140W1QA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1410615 | PA      | $1376382.32   | 2.03%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                 | CUSIP: 3137FDW99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    415000 | PA      | $352230.79    | 0.52%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                    | CUSIP: 3140MJ5U5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    217236 | PA      | $178028.47    | 0.26%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38379MDA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    423032 | PA      | $348619.76    | 0.51%             | 2045-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| J.G. Wentworth XXXIX LLC                               | J.G. Wentworth XXXIX LLC                                           | CUSIP: 46620VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    391975 | PA      | $351424.79    | 0.52%             | 2074-09-17      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                 | CUSIP: 36179WLP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    702311 | PA      | $589092.46    | 0.87%             | 2051-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OWNIT Mortgage Loan Asset-Back                         | Ownit Mortgage Loan Trust Series 2006-6                            | CUSIP: 69121TAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    555428 | PA      | $242943.75    | 0.36%             | 2037-09-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                         | BBCMS Mortgage Trust 2024-5C27                                     | CUSIP: 05555FAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $182407.24    | 0.27%             | 2057-07-15      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3132DWDR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    287947 | PA      | $235086.21    | 0.35%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                 | CUSIP: 3137BTEH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    351603 | PA      | $284889.13    | 0.42%             | 2053-04-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2020-VIV2                             | CUSIP: 05605NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $182782.04    | 0.27%             | 2044-03-09      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| EdgeConneX Data Centers Issuer                         | Edgeconnex Data Centers Issuer LLC                                 | CUSIP: 28000XAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285250 | PA      | $274935.07    | 0.41%             | 2052-03-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                              | CIM Trust 2023-R3                                                  | CUSIP: 12570GAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $346181.40    | 0.51%             | 2063-01-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Government National Mortgage Association                           | CUSIP: 38383VT40<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    361582 | PA      | $319614.63    | 0.47%             | 2053-02-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                         | Wells Fargo Commercial Mortgage Trust 2016-C33                     | CUSIP: 95000LBC6<br>LEI: 549300JPCJUA5JJLRW54 | Long             | ABS-MBS          | CORP              | US        |   3354089 | PA      | $18531.01     | 0.03%             | 2059-03-15      | Variable      | 1.54%                 | No            |                  2 | On Loan: No      |
| Gracechurch Mortgage Finance P                         | Grace Trust 2020-GRCE                                              | CUSIP: 38406JAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $347191.24    | 0.51%             | 2040-12-10      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                   | CUSIP: 3133AT4E8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    848800 | PA      | $701959.32    | 1.04%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MASTR Asset Backed Securities                          | Mastr Asset Backed Securities Trust 2007-HE1                       | CUSIP: 576457AD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    435500 | PA      | $367156.46    | 0.54%             | 2037-05-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                  | CUSIP: 3136ABRF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    384714 | PA      | $344266.48    | 0.51%             | 2043-02-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-25

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

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

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