# EDGAR Filing Document

**Accession Number:** 0001849998
**File Stem:** 0001193125-25-212439
**Filing Date:** 2025-9
**Character Count:** 95151
**Document Hash:** c96c21730554b4997f601899a711309b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-212439.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0001193125-25-212439

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes ETF Trust
- **CENTRAL INDEX KEY:** 0001849998

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23730
- **FILM NUMBER:** 251331907

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086
- **BUSINESS PHONE:** 412-288-1900

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086

## Series and Classes Contracts Data

### Federated Hermes Short Duration Corporate ETF (Series ID: S000074173)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000231758 | Federated Hermes Short Duration Corporate ETF | FCSH            |

## Nport-Ex

Federated Hermes Short Duration Corporate ETF

Portfolio of Investments

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>**or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—93.4% |  |
|  | **Basic Industry - Metals & Mining—1.6%** |  |
| $465000 | Freeport-McMoRan, Inc., Sr. Unsecd. Note, 4.375%, 8/1/2028 | &nbsp;&nbsp; $460558 |
| &nbsp;&nbsp; 254000 | Glencore Funding LLC, Sr. Unsecd. Note, 144A, 5.371%, 4/4/2029 | &nbsp;&nbsp; 260100 |
| &nbsp;&nbsp; 254000 | Steel Dynamics, Inc., Sr. Unsecd. Note, 5.000%, 12/15/2026 | &nbsp;&nbsp; 253469 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 974127 |
|  | **Basic Industry - Paper—0.9%** |  |
| &nbsp;&nbsp; 513000 | Smurfit Kappa Treasury Unlimited Co., Sr. Unsecd. Note, 5.200%, 1/15/2030 | &nbsp;&nbsp; 525250 |
|  | **Capital Goods - Aerospace & Defense—3.8%** |  |
| &nbsp;&nbsp; 954000 | Boeing Co., Sr. Unsecd. Note, 6.298%, 5/1/2029 | &nbsp;&nbsp; 1007207 |
| &nbsp;&nbsp; 115000 | General Electric Co., Sr. Unsecd. Note, 4.300%, 7/29/2030 | &nbsp;&nbsp; 114451 |
| &nbsp;&nbsp; 417000 | HEICO Corp., Sr. Unsecd. Note, 5.250%, 8/1/2028 | &nbsp;&nbsp; 424941 |
| &nbsp;&nbsp; 302000 | Leidos, Inc., Sr. Unsecd. Note, Series WI, 4.375%, 5/15/2030 | &nbsp;&nbsp; 296704 |
| &nbsp;&nbsp; 471000 | RTX Corp., Sr. Unsecd. Note, 5.750%, 11/8/2026 | &nbsp;&nbsp; 477960 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2321263 |
|  | **Capital Goods - Construction Machinery—1.0%** |  |
| &nbsp;&nbsp; 308000 | Ashtead Capital, Inc., Sr. Unsecd. Note, 144A, 1.500%, 8/12/2026 | &nbsp;&nbsp; 298060 |
| &nbsp;&nbsp; 250000 | John Deere Capital Corp., Sr. Unsecd. Note, 4.375%, 10/15/2030 | &nbsp;&nbsp; 249039 |
| &nbsp;&nbsp; 49000 | Weir Group PLC/The, Sr. Unsecd. Note, 144A, 2.200%, 5/13/2026 | &nbsp;&nbsp; 47903 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595002 |
|  | **Capital Goods - Diversified Manufacturing—1.3%** |  |
| &nbsp;&nbsp; 513000 | Ingersoll-Rand, Inc., Sr. Unsecd. Note, 5.176%, 6/15/2029 | &nbsp;&nbsp; 525000 |
| &nbsp;&nbsp; 308000 | Vontier Corp., Sr. Unsecd. Note, Series WI, 1.800%, 4/1/2026 | &nbsp;&nbsp; 301728 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 826728 |
|  | **Capital Goods - Environmental—0.4%** |  |
| &nbsp;&nbsp; 223000 | Republic Services, Inc., Sr. Unsecd. Note, 4.750%, 7/15/2030 | &nbsp;&nbsp; 226446 |
|  | **Communications - Cable & Satellite—1.3%** |  |
| &nbsp;&nbsp; 169000 | Charter Communications Operating, LLC/Charter Communications Operating Capital Corp., Sec. Fac. Bond, 6.100%, 6/1/2029 | &nbsp;&nbsp; 176294 |
| &nbsp;&nbsp; 592000 | Comcast Corp., Sr. Unsecd. Note, 5.350%, 11/15/2027 | &nbsp;&nbsp; 605038 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781332 |
|  | **Communications - Media & Entertainment—2.5%** |  |
| &nbsp;&nbsp; 332000 | AppLovin Corp., Sr. Unsecd. Note, 5.125%, 12/1/2029 | &nbsp;&nbsp; 336012 |
| &nbsp;&nbsp; 471000 | Meta Platforms, Inc., Sr. Unsecd. Note, 3.500%, 8/15/2027 | &nbsp;&nbsp; 465064 |
| &nbsp;&nbsp; 725000 | Netflix, Inc., Sr. Unsecd. Note, 4.875%, 4/15/2028 | &nbsp;&nbsp; 736450 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1537526 |
|  | **Communications - Telecom Wireless—2.3%** |  |
| &nbsp;&nbsp; 75000 | American Tower Corp., Sr. Unsecd. Note, 2.100%, 6/15/2030 | &nbsp;&nbsp; 66560 |
| &nbsp;&nbsp; 302000 | American Tower Corp., Sr. Unsecd. Note, 5.500%, 3/15/2028 | &nbsp;&nbsp; 309405 |
| &nbsp;&nbsp; 417000 | Crown Castle, Inc., Sr. Unsecd. Note, 4.800%, 9/1/2028 | &nbsp;&nbsp; 419005 |
| &nbsp;&nbsp; 326000 | T-Mobile USA, Inc., Sr. Unsecd. Note, 4.200%, 10/1/2029 | &nbsp;&nbsp; 322700 |
| &nbsp;&nbsp; 302000 | T-Mobile USA, Inc., Sr. Unsecd. Note, 5.375%, 4/15/2027 | &nbsp;&nbsp; 301647 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1419317 |
|  | **Communications - Telecom Wirelines—1.3%** |  |
| &nbsp;&nbsp; 513000 | AT&T, Inc., Sr. Unsecd. Note, 4.100%, 2/15/2028 | &nbsp;&nbsp; 509454 |
| &nbsp;&nbsp; 308000 | Rogers Communications, Inc., Sr. Unsecd. Note, 3.200%, 3/15/2027 | &nbsp;&nbsp; 301578 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 811032 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Consumer Cyclical - Automotive—3.7%** |  |
| $519000 | Daimler Trucks Financial NA, Sr. Unsecd. Note, 144A, 2.000%, 12/14/2026 | &nbsp;&nbsp; $501626 |
| &nbsp;&nbsp; 417000 | Ford Motor Credit Co. LLC, Sr. Unsecd. Note, 6.798%, 11/7/2028 | &nbsp;&nbsp; 431543 |
| &nbsp;&nbsp; 417000 | Hyundai Capital America, Sr. Unsecd. Note, 144A, 5.300%, 6/24/2029 | &nbsp;&nbsp; 424214 |
| &nbsp;&nbsp; 465000 | Mercedes-Benz Finance NA LLC, Sr. Unsecd. Note, 144A, 5.250%, 11/29/2027 | &nbsp;&nbsp; 472791 |
| &nbsp;&nbsp; 417000 | Volkswagen Group of America Finance LLC, Sr. Unsecd. Note, 144A, 4.950%, 8/15/2029 | &nbsp;&nbsp; 417635 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2247809 |
|  | **Consumer Cyclical - Retailers—0.8%** |  |
| &nbsp;&nbsp; 513000 | Home Depot, Inc., Sr. Unsecd. Note, 4.750%, 6/25/2029 | &nbsp;&nbsp; 521332 |
|  | **Consumer Cyclical - Services—0.8%** |  |
| &nbsp;&nbsp; 465000 | Amazon.com, Inc., Sr. Unsecd. Note, 4.550%, 12/1/2027 | &nbsp;&nbsp; 469595 |
|  | **Consumer Non-Cyclical - Food/Beverage—4.3%** |  |
| &nbsp;&nbsp; 150000 | Anheuser-Busch InBev Worldwide, Inc., Sr. Unsecd. Note, 3.500%, 6/1/2030 | &nbsp;&nbsp; 144241 |
| &nbsp;&nbsp; 513000 | Bacardi Ltd., Sr. Unsecd. Note, 144A, 5.250%, 1/15/2029 | &nbsp;&nbsp; 521009 |
| &nbsp;&nbsp; 254000 | International Flavors & Fragrances, Inc., Sr. Unsecd. Note, 144A, 1.230%, 10/1/2025 | &nbsp;&nbsp; 252280 |
| &nbsp;&nbsp; 60000 | Kraft Heinz Foods Co., Sr. Unsecd. Note, 6.375%, 7/15/2028 | &nbsp;&nbsp; 62517 |
| &nbsp;&nbsp; 1208000 | Mars, Inc., Sr. Unsecd. Note, 144A, 4.800%, 3/1/2030 | &nbsp;&nbsp; 1219994 |
| &nbsp;&nbsp; 423000 | Sysco Corp., Sr. Unsecd. Note, 3.300%, 7/15/2026 | &nbsp;&nbsp; 418171 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2618212 |
|  | **Consumer Non-Cyclical - Health Care—4.7%** |  |
| &nbsp;&nbsp; 308000 | Alcon Finance Corp., Sr. Unsecd. Note, 144A, 2.750%, 9/23/2026 | &nbsp;&nbsp; 301256 |
| &nbsp;&nbsp; 302000 | Becton Dickinson & Co., Sr. Unsecd. Note, 4.693%, 2/13/2028 | &nbsp;&nbsp; 304374 |
| &nbsp;&nbsp; 465000 | CVS Health Corp., Sr. Unsecd. Note, 4.300%, 3/25/2028 | &nbsp;&nbsp; 461892 |
| &nbsp;&nbsp; 942000 | GE HealthCare Technologies, Inc., Unsecd. Note, 5.650%, 11/15/2027 | &nbsp;&nbsp; 965780 |
| &nbsp;&nbsp; 193000 | HCA, Inc., Sr. Unsecd. Note, 5.200%, 6/1/2028 | &nbsp;&nbsp; 196286 |
| &nbsp;&nbsp; 163000 | HCA, Inc., Sr. Unsub., 5.250%, 3/1/2030 | &nbsp;&nbsp; 166506 |
| &nbsp;&nbsp; 199000 | Solventum Corp., Sr. Unsecd. Note, Series WI, 5.400%, 3/1/2029 | &nbsp;&nbsp; 204739 |
| &nbsp;&nbsp; 302000 | Thermo Fisher Scientific, Inc., Sr. Unsecd. Note, 4.800%, 11/21/2027 | &nbsp;&nbsp; 305333 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2906166 |
|  | **Consumer Non-Cyclical - Pharmaceuticals—3.2%** |  |
| &nbsp;&nbsp; 423000 | AbbVie, Inc., Sr. Unsecd. Note, 4.250%, 11/14/2028 | &nbsp;&nbsp; 423173 |
| &nbsp;&nbsp; 513000 | Amgen, Inc., Sr. Unsecd. Note, 5.150%, 3/2/2028 | &nbsp;&nbsp; 522406 |
| &nbsp;&nbsp; 211000 | Bristol-Myers Squibb Co., Sr. Unsecd. Note, 4.900%, 2/22/2029 | &nbsp;&nbsp; 215064 |
| &nbsp;&nbsp; 513000 | Pfizer Investment Enterprises Pte Ltd., Sr. Unsecd. Note, 4.450%, 5/19/2028 | &nbsp;&nbsp; 515002 |
| &nbsp;&nbsp; 284000 | Zoetis, Inc., Sr. Unsecd. Note, 5.400%, 11/14/2025 | &nbsp;&nbsp; 284400 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1960045 |
|  | **Consumer Non-Cyclical - Tobacco—1.4%** |  |
| &nbsp;&nbsp; 69000 | Altria Group, Inc., Sr. Unsecd. Note, 6.200%, 11/1/2028 | &nbsp;&nbsp; 72339 |
| &nbsp;&nbsp; 348000 | BAT Capital Corp., Sr. Unsecd. Note, 2.726%, 3/25/2031 | &nbsp;&nbsp; 312559 |
| &nbsp;&nbsp; 465000 | Philip Morris International, Inc., Sr. Unsecd. Note, 5.125%, 11/17/2027 | &nbsp;&nbsp; 472116 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 857014 |
|  | **Energy - Independent—2.3%** |  |
| &nbsp;&nbsp; 302000 | Diamondback Energy, Inc., Sr. Unsecd. Note, 3.500%, 12/1/2029 | &nbsp;&nbsp; 288133 |
| &nbsp;&nbsp; 302000 | Diamondback Energy, Inc., Sr. Unsecd. Note, 5.150%, 1/30/2030 | &nbsp;&nbsp; 307492 |
| &nbsp;&nbsp; 543000 | Hess Corp., Sr. Unsecd. Note, 4.300%, 4/1/2027 | &nbsp;&nbsp; 542782 |
| &nbsp;&nbsp; 284000 | Ovintiv, Inc., Sr. Unsecd. Note, 5.650%, 5/15/2028 | &nbsp;&nbsp; 291082 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1429489 |
|  | **Energy - Midstream—5.5%** |  |
| &nbsp;&nbsp; 242000 | Columbia Pipeline Holding Co. LLC, Sr. Unsecd. Note, 144A, 6.042%, 8/15/2028 | &nbsp;&nbsp; 251520 |
| &nbsp;&nbsp; 628000 | Crestwood Midstream Partners LP, Sr. Unsecd. Note, 144A, 5.625%, 5/1/2027 | &nbsp;&nbsp; 628179 |
| &nbsp;&nbsp; 447000 | MPLX LP, Sr. Unsecd. Note, 4.000%, 3/15/2028 | &nbsp;&nbsp; 440904 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Energy - Midstream—continued** |  |
| $640000 | National Fuel Gas Co., Sr. Unsecd. Note, 5.500%, 3/15/2030 | &nbsp;&nbsp; $656287 |
| &nbsp;&nbsp; 435000 | ONEOK, Inc., Sr. Unsecd. Note, 4.550%, 7/15/2028 | &nbsp;&nbsp; 435433 |
| &nbsp;&nbsp; 519000 | Targa Resources, Inc., Sr. Unsecd. Note, 5.200%, 7/1/2027 | &nbsp;&nbsp; 525029 |
| &nbsp;&nbsp; 417000 | Williams Cos., Inc., Sr. Unsecd. Note, 5.300%, 8/15/2028 | &nbsp;&nbsp; 426991 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 3364343 |
|  | **Energy - Refining—0.5%** |  |
| &nbsp;&nbsp; 302000 | Marathon Petroleum Corp., Sr. Unsecd. Note, 3.800%, 4/1/2028 | &nbsp;&nbsp; 296741 |
|  | **Financial Institution - Banking—24.0%** |  |
| &nbsp;&nbsp; 513000 | American Express Co., Sr. Unsecd. Note, 5.850%, 11/5/2027 | &nbsp;&nbsp; 530156 |
| &nbsp;&nbsp; 1739000 | Bank of America Corp., Sr. Unsecd. Note, 5.819%, 9/15/2029 | &nbsp;&nbsp; 1806634 |
| &nbsp;&nbsp; 302000 | Bank of New York Mellon Corp., Sr. Unsecd. Note, 4.543%, 2/1/2029 | &nbsp;&nbsp; 303325 |
| &nbsp;&nbsp; 175000 | Citigroup, Inc., Sr. Unsecd. Note, 3.980%, 3/20/2030 | &nbsp;&nbsp; 171276 |
| &nbsp;&nbsp; 1564000 | Citigroup, Inc., Sub. Note, 4.450%, 9/29/2027 | &nbsp;&nbsp; 1559608 |
| &nbsp;&nbsp; 193000 | Citizens Financial Group, Inc., Sr. Unsecd. Note, 5.841%, 1/23/2030 | &nbsp;&nbsp; 199292 |
| &nbsp;&nbsp; 242000 | Comerica, Inc., Sr. Unsecd. Note, 5.982%, 1/30/2030 | &nbsp;&nbsp; 248838 |
| &nbsp;&nbsp; 513000 | Fifth Third Bancorp, Sr. Unsecd. Note, 6.361%, 10/27/2028 | &nbsp;&nbsp; 533616 |
| &nbsp;&nbsp; 350000 | FNB Corp. (PA), 5.722%, 12/11/2030 | &nbsp;&nbsp; 352433 |
| &nbsp;&nbsp; 15000 | FNB Corp. (PA), Sr. Unsecd. Note, 5.150%, 8/25/2025 | &nbsp;&nbsp; 15000 |
| &nbsp;&nbsp; 1202000 | Goldman Sachs Group, Inc., 5.950%, 1/15/2027 | &nbsp;&nbsp; 1231485 |
| &nbsp;&nbsp; 640000 | Huntington Bancshares, Inc., Sr. Unsecd. Note, 6.208%, 8/21/2029 | &nbsp;&nbsp; 669590 |
| &nbsp;&nbsp; 1304000 | JPMorgan Chase & Co., Sr. Unsecd. Note, 5.581%, 4/22/2030 | &nbsp;&nbsp; 1351766 |
| &nbsp;&nbsp; 628000 | JPMorgan Chase & Co., Sub. Note, 4.250%, 10/1/2027 | &nbsp;&nbsp; 628346 |
| &nbsp;&nbsp; 513000 | Manufacturers & Traders Trust Co., Sr. Unsecd. Note, 4.700%, 1/27/2028 | &nbsp;&nbsp; 516116 |
| &nbsp;&nbsp; 125000 | Morgan Stanley, Sr. Unsecd. Note, 5.656%, 4/18/2030 | &nbsp;&nbsp; 129529 |
| &nbsp;&nbsp; 1497000 | Morgan Stanley, Sr. Unsecd. Note, Series MTN, 6.250%, 8/9/2026 | &nbsp;&nbsp; 1522699 |
| &nbsp;&nbsp; 175000 | PNC Financial Services Group, Inc., Sr. Unsecd. Note, 2.550%, 1/22/2030 | &nbsp;&nbsp; 161759 |
| &nbsp;&nbsp; 284000 | PNC Financial Services Group, Inc., Sr. Unsecd. Note, 6.615%, 10/20/2027 | &nbsp;&nbsp; 290713 |
| &nbsp;&nbsp; 193000 | Synovus Financial Corp., Sr. Unsecd. Note, 6.168%, 11/1/2030 | &nbsp;&nbsp; 198470 |
| &nbsp;&nbsp; 519000 | Truist Financial Corp., Sr. Unsecd. Note, Series MTN, 1.267%, 3/2/2027 | &nbsp;&nbsp; 508201 |
| &nbsp;&nbsp; 519000 | U.S. Bancorp, Sr. Unsecd. Note, Series MTN, 2.215%, 1/27/2028 | &nbsp;&nbsp; 501514 |
| &nbsp;&nbsp; 1039000 | Wells Fargo & Co., Sr. Unsecd. Note, 5.707%, 4/22/2028 | &nbsp;&nbsp; 1059263 |
| &nbsp;&nbsp; 200000 | Wells Fargo & Co., Sr. Unsecd. Note, Series MTN, 4.150%, 1/24/2029 | &nbsp;&nbsp; 198238 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp; 14687867 |
|  | **Financial Institution - Broker/Asset Mgr/Exchange—0.3%** |  |
| &nbsp;&nbsp; 211000 | Jefferies Financial Group, Inc., Sr. Unsecd. Note, 5.875%, 7/21/2028 | &nbsp;&nbsp; 218299 |
|  | **Financial Institution - Finance Companies—1.8%** |  |
| &nbsp;&nbsp; 417000 | Air Lease Corp., Sr. Unsecd. Note, 5.850%, 12/15/2027 | &nbsp;&nbsp; 429188 |
| &nbsp;&nbsp; 150000 | Aircastle Ltd., Sr. Secd. Note, 144A, 5.000%, 9/15/2030 | &nbsp;&nbsp; 149728 |
| &nbsp;&nbsp; 519000 | NTT Finance Corp., Sr. Unsecd. Note, 144A, 4.372%, 7/27/2027 | &nbsp;&nbsp; 517203 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1096119 |
|  | **Financial Institution - Insurance - Health—2.4%** |  |
| &nbsp;&nbsp; 423000 | Centene Corp., Sr. Unsecd. Note, Series WI, 4.250%, 12/15/2027 | &nbsp;&nbsp; 410177 |
| &nbsp;&nbsp; 513000 | Elevance Health, Inc., Sr. Unsecd. Note, 4.101%, 3/1/2028 | &nbsp;&nbsp; 509024 |
| &nbsp;&nbsp; 513000 | UnitedHealth Group, Inc., Sr. Unsecd. Note, 5.250%, 2/15/2028 | &nbsp;&nbsp; 524285 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1443486 |
|  | **Financial Institution - Insurance - Life—1.8%** |  |
| &nbsp;&nbsp; 417000 | AIA Group Ltd., Sr. Unsecd. Note, 144A, 3.600%, 4/9/2029 | &nbsp;&nbsp; 406777 |
| &nbsp;&nbsp; 193000 | Lincoln Financial Global Funding, Sec. Fac. Bond, 144A, 5.300%, 1/13/2030 | &nbsp;&nbsp; 197733 |
| &nbsp;&nbsp; 513000 | Metropolitan Life Global Funding I, Sr. Secd. Note, 144A, 4.850%, 1/8/2029 | &nbsp;&nbsp; 521711 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1126221 |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Financial Institution - Insurance - P&C—2.0%** |  |
| $314000 | American International Group, Inc., Sr. Unsecd. Note, 4.850%, 5/7/2030 | &nbsp;&nbsp; $318136 |
| &nbsp;&nbsp; 465000 | Aon North America, Inc., Sr. Unsecd. Note, 5.150%, 3/1/2029 | &nbsp;&nbsp; 474774 |
| &nbsp;&nbsp; 423000 | Marsh & McLennan Cos., Inc., Sr. Unsecd. Note, 4.650%, 3/15/2030 | &nbsp;&nbsp; 426656 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1219566 |
|  | **Financial Institution - REIT - Apartment—0.7%** |  |
| &nbsp;&nbsp; 254000 | UDR, Inc., Sr. Unsecd. Note, Series MTN, 2.950%, 9/1/2026 | &nbsp;&nbsp; 249665 |
| &nbsp;&nbsp; 200000 | UDR, Inc., Sr. Unsecd. Note, Series MTN, 4.400%, 1/26/2029 | &nbsp;&nbsp; 199560 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 449225 |
|  | **Financial Institution - REIT - Healthcare—0.4%** |  |
| &nbsp;&nbsp; 254000 | Welltower, Inc., Sr. Unsecd. Note, 4.125%, 3/15/2029 | &nbsp;&nbsp; 251324 |
|  | **Financial Institution - REIT - Office—1.2%** |  |
| &nbsp;&nbsp; 513000 | Alexandria Real Estate Equities, Inc., Sr. Unsecd. Note, 4.300%, 1/15/2026 | &nbsp;&nbsp; 512115 |
| &nbsp;&nbsp; 199000 | Boston Properties LP, Sr. Unsecd. Note, 4.500%, 12/1/2028 | &nbsp;&nbsp; 197049 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709164 |
|  | **Technology—7.6%** |  |
| &nbsp;&nbsp; 435000 | Broadcom, Inc., Sr. Unsecd. Note, 4.110%, 9/15/2028 | &nbsp;&nbsp; 431226 |
| &nbsp;&nbsp; 519000 | CDW LLC/ CDW Finance Corp., Sr. Unsecd. Note, 2.670%, 12/1/2026 | &nbsp;&nbsp; 505376 |
| &nbsp;&nbsp; 417000 | Cisco Systems, Inc., Sr. Unsecd. Note, 4.850%, 2/26/2029 | &nbsp;&nbsp; 425226 |
| &nbsp;&nbsp; 417000 | Fiserv, Inc., Sr. Unsecd. Note, 5.450%, 3/2/2028 | &nbsp;&nbsp; 426200 |
| &nbsp;&nbsp; 417000 | Global Payments, Inc., Sr. Unsecd. Note, 4.950%, 8/15/2027 | &nbsp;&nbsp; 419440 |
| &nbsp;&nbsp; 417000 | Hewlett Packard Enterprise Co., Sr. Secd. Note, 4.550%, 10/15/2029 | &nbsp;&nbsp; 414556 |
| &nbsp;&nbsp; 200000 | Keysight Technologies, Inc., Sr. Unsecd. Note, 3.000%, 10/30/2029 | &nbsp;&nbsp; 187535 |
| &nbsp;&nbsp; 302000 | Keysight Technologies, Inc., Sr. Unsecd. Note, 4.600%, 4/6/2027 | &nbsp;&nbsp; 302337 |
| &nbsp;&nbsp; 193000 | Microchip Technology, Inc., Sr. Unsecd. Note, 5.050%, 3/15/2029 | &nbsp;&nbsp; 195180 |
| &nbsp;&nbsp; 501000 | Micron Technology, Inc., Sr. Unsecd. Note, 5.375%, 4/15/2028 | &nbsp;&nbsp; 513308 |
| &nbsp;&nbsp; 392000 | Oracle Corp., Sr. Unsecd. Note, 4.500%, 5/6/2028 | &nbsp;&nbsp; 392993 |
| &nbsp;&nbsp; 199000 | Roper Technologies, Inc., Sr. Unsecd. Note, 4.200%, 9/15/2028 | &nbsp;&nbsp; 197438 |
| &nbsp;&nbsp; 254000 | Verisk Analytics, Inc., Sr. Unsecd. Note, 4.125%, 3/15/2029 | &nbsp;&nbsp; 251998 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 4662813 |
|  | **Transportation - Services—1.0%** |  |
| &nbsp;&nbsp; 308000 | GXO Logistics, Inc., Sr. Unsecd. Note, Series WI, 1.650%, 7/15/2026 | &nbsp;&nbsp; 299335 |
| &nbsp;&nbsp; 302000 | Ryder System, Inc., Sr. Unsecd. Note, Series MTN, 5.250%, 6/1/2028 | &nbsp;&nbsp; 308678 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608013 |
|  | **Utility - Electric—6.6%** |  |
| &nbsp;&nbsp; 519000 | Ameren Corp., Sr. Unsecd. Note, 1.950%, 3/15/2027 | &nbsp;&nbsp; 498616 |
| &nbsp;&nbsp; 181000 | American Electric Power Co., Inc., Sr. Unsecd. Note, 5.750%, 11/1/2027 | &nbsp;&nbsp; 185721 |
| &nbsp;&nbsp; 435000 | Dominion Energy, Inc., Sr. Unsecd. Note, 4.250%, 6/1/2028 | &nbsp;&nbsp; 432673 |
| &nbsp;&nbsp; 423000 | Duke Energy Corp., Sr. Unsecd. Note, 5.000%, 12/8/2027 | &nbsp;&nbsp; 428822 |
| &nbsp;&nbsp; 254000 | Emera US Finance LP, Sr. Unsecd. Note, 3.550%, 6/15/2026 | &nbsp;&nbsp; 251280 |
| &nbsp;&nbsp; 302000 | EverSource Energy, Sr. Unsecd. Note, 4.600%, 7/1/2027 | &nbsp;&nbsp; 302163 |
| &nbsp;&nbsp; 133000 | Exelon Corp., Sr. Unsecd. Note, 5.125%, 3/15/2031 | &nbsp;&nbsp; 135700 |
| &nbsp;&nbsp; 495000 | Florida Power & Light Co., 5.050%, 4/1/2028 | &nbsp;&nbsp; 504961 |
| &nbsp;&nbsp; 465000 | National Rural Utilities Cooperative Finance Corp., Sr. Unsecd. Note, 4.800%, 3/15/2028 | &nbsp;&nbsp; 470736 |
| &nbsp;&nbsp; 483000 | NiSource, Inc., Sr. Unsecd. Note, 5.250%, 3/30/2028 | &nbsp;&nbsp; 492769 |
| &nbsp;&nbsp; 163000 | Pinnacle West Capital Corp., Sr. Unsecd. Note, 4.900%, 5/15/2028 | &nbsp;&nbsp; 164449 |
| &nbsp;&nbsp; 163000 | WEC Energy Group, Inc., Sr. Unsecd. Note, 5.150%, 10/1/2027 | &nbsp;&nbsp; 165237 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 4033127 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS <br>(IDENTIFIED COST $57,033,185)<br>| &nbsp;&nbsp; 57193993 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | U.S. TREASURY—1.5% |  |
|  | **U.S. Treasury Notes—1.5%** |  |
| $942000 | United States Treasury Note, 4.000%, 7/31/2029 <br>(IDENTIFIED COST $944,751)<br>| &nbsp;&nbsp; $944735 |
|  | INVESTMENT COMPANY—4.0% |  |
| &nbsp;&nbsp; 2456493 | Federated Hermes Government Obligations Fund, Premier Shares, 4.24%<sup>1</sup> <br>(IDENTIFIED COST $2,456,493)<br>| &nbsp;&nbsp; 2456493 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—98.9% <br>(IDENTIFIED COST $60,434,429)<br>| &nbsp;&nbsp; 60595221 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—1.1%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649014 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $61244235 |

---

At July 31, 2025, the Fund had the following outstanding futures contracts:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of** <br>**Contracts**<br>| &nbsp;&nbsp; **Notional** <br>**Value**<br>| &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Value and** <br>**Unrealized** <br>**Appreciation**<br>|
| **Long Futures:** |  |  |  |  |
| United States Treasury Notes 5-Year Long Futures | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp; $4975906 | September 2025 | &nbsp;&nbsp;&nbsp; $4169 |

---

Net Unrealized Appreciation on Futures Contracts is included in "Other Assets and Liabilities—Net."

Transactions with affiliated investment companies, which are funds managed by the Adviser or an affiliate of the Adviser, during the period ended July 31, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Federated** <br>**Hermes** <br>**Government** <br>**Obligations Fund,** <br>**Premier Shares**<br>|
| Value as of 4/30/2025 | &nbsp;&nbsp; $315867 |
| Purchases at Cost | &nbsp;&nbsp; $2881867 |
| Proceeds from Sales | &nbsp;&nbsp; $(741241) |
| Change in Unrealized Appreciation/Depreciation | &nbsp;&nbsp; $— |
| Net Realized Gain/(Loss) | &nbsp;&nbsp; $— |
| Value as of 7/31/2025 | &nbsp;&nbsp; $2456493 |
| Shares Held as of 7/31/2025 | &nbsp;&nbsp; 2456493 |
| Dividend Income | &nbsp;&nbsp; $7941 |

---

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

1 *7-day net yield.* <br> 2 *Assets, other than investments in securities, less liabilities.*

Note: The categories of investments are shown as a percentage of net assets at July 31, 2025.

**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Investment Management Company (the "Adviser").

■ Shares of mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

**5**

------

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's valuation committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different. The trading prices of the Fund's shares listed on its exchange may differ from the Fund's NAV and will normally be affected by market forces, such as supply and demand, economic conditions, the market value of the Fund's disclosed portfolio holdings and other factors. As a result, trading prices may be lower, higher or the same as the Fund's NAV; and investors may pay more than NAV when buying shares and receive less than NAV when selling shares through the exchange.

**Fair Valuation and Significant Events Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Trustees periodically review the fair valuations made by the Valuation Committee. The Trustees have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Trustees periodically review fair valuations made in response to significant events.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1—quoted prices in active markets for identical securities.

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

**6**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>The following is a summary of the inputs used, as of July 31, 2025, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Debt Securities:** |  |  |  |  |
| Corporate Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp; $57193993 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $57193993 |
| U.S. Treasury | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 944735 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 944735 |
| **Investment Company** | &nbsp;&nbsp; 2456493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2456493 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $2456493 | &nbsp;&nbsp; $58138728 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $60595221 |
| **Other Financial Instruments:**<sup>1</sup> <br>|  |  |  |  |
| Assets | &nbsp;&nbsp; $4169 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4169 |

---

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

1 *Other financial instruments are futures contracts.*

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

The following acronym(s) are used throughout this portfolio: <br> MTN —Medium Term Note <br> REIT —Real Estate Investment Trust

**7**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes ETF Trust

- **b. Investment Company Act file number:** 811-23730

- **c. CIK number of Registrant:** 0001849998

- **d. LEI of Registrant:** 2549000FKW49U2D1SG36

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 800-341-7400

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

- **a. Name of Series:** Federated Hermes Short Duration Corporate ETF

- **b. EDGAR series identifier (if any):** S000074173

- **c. LEI of Series:** 254900F0DR134ILZZ365

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $61388601.83

**Total Liabilities:** $144366.90

**Net Assets:** $61244234.93

**Cash Not Reported:** $52470.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -130.171958000000 | **1-Year:** -6811.909714000000 | **5-Year:** -7311.612844000000 | **10-Year:** -30.498050000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231758 | 0.13%                | 0.91%                | 0.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-429.67                 | $-19982.12                                 |
| Month 2  | $0.00                    | $46364.23                                  |
| Month 3  | $-518.38                 | $18234.20                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Roper Technologies Inc                       | Roper Technologies Inc                                                          | CUSIP: 776743AF3<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    199000 | PA      | $197437.95    | 0.32%             | 2028-09-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Verisk Analytics Inc                         | VERISK ANALYTICS INC SR UNSECURED 03/29 4.125                                   | CUSIP: 92345YAF3<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    254000 | PA      | $251997.97    | 0.41%             | 2029-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ALCON FINANCE CORP                           | Alcon Finance Corp                                                              | CUSIP: 01400EAA1<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    308000 | PA      | $301255.91    | 0.49%             | 2026-09-23      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| APPLOVIN CORP                                | AppLovin Corp                                                                   | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    332000 | PA      | $336012.09    | 0.55%             | 2029-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                             | Welltower Inc                                                                   | CUSIP: 95040QAH7<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    254000 | PA      | $251323.59    | 0.41%             | 2029-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                             | BAT Capital Corp                                                                | CUSIP: 05526DBS3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    348000 | PA      | $312559.50    | 0.51%             | 2031-03-25      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                 | Broadcom Inc                                                                    | CUSIP: 11135FAL5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    435000 | PA      | $431225.92    | 0.70%             | 2028-09-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                          | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    519000 | PA      | $505376.25    | 0.83%             | 2026-12-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                            | Eversource Energy                                                               | CUSIP: 30040WAR9<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    302000 | PA      | $302163.45    | 0.49%             | 2027-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| FNB CORP                                     | FNB Corp/PA                                                                     | CUSIP: 302520AC5<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15000.23     | 0.02%             | 2025-08-25      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                           | Meta Platforms Inc                                                              | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    471000 | PA      | $465064.22    | 0.76%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                          | JPMorgan Chase & Co                                                             | CUSIP: 46625HNJ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    628000 | PA      | $628345.75    | 1.03%             | 2027-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                     | Manufacturers & Traders Trust Co                                                | CUSIP: 55279HAW0<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    513000 | PA      | $516116.09    | 0.84%             | 2028-01-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                      | Marathon Petroleum Corp                                                         | CUSIP: 56585ABD3<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    302000 | PA      | $296740.50    | 0.48%             | 2028-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                        | Micron Technology Inc                                                           | CUSIP: 595112CA9<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    501000 | PA      | $513307.59    | 0.84%             | 2028-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund | Federated Hermes Government Obligations Fund                                    | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   2456493 | NS      | $2456492.98   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                  | Oracle Corp                                                                     | CUSIP: 68389XCM5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    392000 | PA      | $392992.85    | 0.64%             | 2028-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PINNACLE WEST CAPITAL                        | Pinnacle West Capital Corp                                                      | CUSIP: 723484AM3<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | DBT              | CORP              | US        |    163000 | PA      | $164448.50    | 0.27%             | 2028-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                     | Rogers Communications Inc                                                       | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    308000 | PA      | $301578.46    | 0.49%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP                                 | Vontier Corp                                                                    | CUSIP: 928881AB7<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |    308000 | PA      | $301728.41    | 0.49%             | 2026-04-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                       | Williams Cos Inc/The                                                            | CUSIP: 969457CK4<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    417000 | PA      | $426990.85    | 0.70%             | 2028-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                               | Air Lease Corp                                                                  | CUSIP: 00914AAT9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    417000 | PA      | $429187.90    | 0.70%             | 2027-12-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                     | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AH2<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    513000 | PA      | $512114.99    | 0.84%             | 2026-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                               | Amazon.com Inc                                                                  | CUSIP: 023135CP9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    465000 | PA      | $469594.98    | 0.77%             | 2027-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                      | American Electric Power Co Inc                                                  | CUSIP: 025537AV3<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    181000 | PA      | $185721.23    | 0.30%             | 2027-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL                       | American International Group Inc                                                | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    314000 | PA      | $318135.63    | 0.52%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                          | American Tower Corp                                                             | CUSIP: 03027XBY5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    302000 | PA      | $309404.40    | 0.51%             | 2028-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                         | Bank of America Corp                                                            | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1739000 | PA      | $1806634.34   | 2.95%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                | Citigroup Inc                                                                   | CUSIP: 172967KA8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1564000 | PA      | $1559607.68   | 2.55%             | 2027-09-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                           | Energy Transfer LP                                                              | CUSIP: 226373AQ1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    628000 | PA      | $628179.07    | 1.03%             | 2027-05-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                       | Diamondback Energy Inc                                                          | CUSIP: 25278XAN9<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    302000 | PA      | $288132.26    | 0.47%             | 2029-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                          | Dominion Energy Inc                                                             | CUSIP: 25746UCY3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    435000 | PA      | $432673.31    | 0.71%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                  | Exelon Corp                                                                     | CUSIP: 30161NBR1<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    133000 | PA      | $135699.87    | 0.22%             | 2031-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                               | Home Depot Inc/The                                                              | CUSIP: 437076DC3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    513000 | PA      | $521331.92    | 0.85%             | 2029-06-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                        | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    640000 | PA      | $669590.27    | 1.09%             | 2029-08-21      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                      | Metropolitan Life Global Funding I                                              | CUSIP: 59217GFR5<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |    513000 | PA      | $521711.28    | 0.85%             | 2029-01-08      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                               | Morgan Stanley                                                                  | CUSIP: 61746BCY0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1497000 | PA      | $1522699.28   | 2.49%             | 2026-08-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                             | NTT Finance Corp                                                                | CUSIP: 62954WAK1<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    519000 | PA      | $517203.07    | 0.84%             | 2027-07-27      | Fixed         | 4.37%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                        | Republic Services Inc                                                           | CUSIP: 760759BL3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    223000 | PA      | $226445.62    | 0.37%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SMURFIT KAPPA TREASURY                       | Smurfit Kappa Treasury ULC                                                      | CUSIP: 83272GAD3<br>LEI: 635400B3DOXSWFOWJT40 | Long             | DBT              | CORP              | IE        |    513000 | PA      | $525250.44    | 0.86%             | 2030-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                               | Solventum Corp                                                                  | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    199000 | PA      | $204739.20    | 0.33%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                         | Targa Resources Corp                                                            | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    519000 | PA      | $525029.14    | 0.86%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                       | U.S. Treasury Notes                                                             | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    942000 | PA      | $944734.91    | 1.54%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                        | Wells Fargo & Co                                                                | CUSIP: 95000U2D4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198237.56    | 0.32%             | 2029-01-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                     | Anheuser-Busch InBev Worldwide Inc                                              | CUSIP: 035240AV2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144241.21    | 0.24%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AIA Group Ltd                                | AIA Group Ltd                                                                   | CUSIP: 00131LAH8<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |    417000 | PA      | $406777.28    | 0.66%             | 2029-04-09      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                        | Aon North America Inc                                                           | CUSIP: 03740MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    465000 | PA      | $474774.21    | 0.78%             | 2029-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                      | Bristol-Myers Squibb Co                                                         | CUSIP: 110122EF1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    211000 | PA      | $215064.20    | 0.35%             | 2029-02-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    169000 | PA      | $176293.69    | 0.29%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                     | Florida Power & Light Co                                                        | CUSIP: 341081GK7<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    495000 | PA      | $504960.82    | 0.82%             | 2028-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| HCA INC                                      | HCA Inc                                                                         | CUSIP: 404119CP2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    193000 | PA      | $196285.72    | 0.32%             | 2028-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                         | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCG8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    465000 | PA      | $460557.53    | 0.75%             | 2028-08-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES                     | International Flavors & Fragrances Inc                                          | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |    254000 | PA      | $252279.67    | 0.41%             | 2025-10-01      | Fixed         | 1.23%                 | Yes           |                  2 | On Loan: No      |
| HEICO CORP                                   | HEICO Corp                                                                      | CUSIP: 422806AA7<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |    417000 | PA      | $424941.24    | 0.69%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                         | Mercedes-Benz Finance North America LLC                                         | CUSIP: 58769JAC1<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |    465000 | PA      | $472791.35    | 0.77%             | 2027-11-29      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                        | Keysight Technologies Inc                                                       | CUSIP: 49338LAE3<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    302000 | PA      | $302336.87    | 0.49%             | 2027-04-06      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                         | National Fuel Gas Co                                                            | CUSIP: 636180BT7<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    640000 | PA      | $656287.12    | 1.07%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                 | NiSource Inc                                                                    | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    483000 | PA      | $492769.38    | 0.80%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                      | UDR Inc                                                                         | CUSIP: 90265EAP5<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |    200000 | PA      | $199559.46    | 0.33%             | 2029-01-26      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                     | Microchip Technology Inc                                                        | CUSIP: 595017BE3<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    193000 | PA      | $195180.32    | 0.32%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                        | Truist Financial Corp                                                           | CUSIP: 89788MAD4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    519000 | PA      | $508201.16    | 0.83%             | 2027-03-02      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| WEIR GROUP PLC (THE)                         | Weir Group PLC/The                                                              | CUSIP: 94876QAA4<br>LEI: 549300KDR56WHY9I3D10 | Long             | DBT              | CORP              | GB        |     49000 | PA      | $47902.79     | 0.08%             | 2026-05-13      | Fixed         | 2.20%                 | Yes           |                  2 | On Loan: No      |
| US BANCORP                                   | US Bancorp                                                                      | CUSIP: 91159HJC5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    519000 | PA      | $501513.81    | 0.82%             | 2028-01-27      | Fixed         | 2.22%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                        | Wells Fargo & Co                                                                | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1039000 | PA      | $1059262.48   | 1.73%             | 2028-04-22      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                     | AT&T Inc                                                                        | CUSIP: 00206RGL0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    513000 | PA      | $509453.86    | 0.83%             | 2028-02-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                   | AbbVie Inc                                                                      | CUSIP: 00287YBF5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    423000 | PA      | $423172.63    | 0.69%             | 2028-11-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                      | Aircastle Ltd / Aircastle Ireland DAC                                           | CUSIP: 00929JAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    150000 | PA      | $149728.31    | 0.24%             | 2030-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ALTRIA GROUP INC                             | Altria Group Inc                                                                | CUSIP: 02209SBQ5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     69000 | PA      | $72338.57     | 0.12%             | 2028-11-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                  | Ameren Corp                                                                     | CUSIP: 023608AL6<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    519000 | PA      | $498615.72    | 0.81%             | 2027-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                          | American Express Co                                                             | CUSIP: 025816DB2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    513000 | PA      | $530156.07    | 0.87%             | 2027-11-05      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                          | American Tower Corp                                                             | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     75000 | PA      | $66560.19     | 0.11%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                    | Amgen Inc                                                                       | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    513000 | PA      | $522406.28    | 0.85%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                          | Elevance Health Inc                                                             | CUSIP: 036752AG8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    513000 | PA      | $509023.81    | 0.83%             | 2028-03-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                          | Ashtead Capital Inc                                                             | CUSIP: 045054AN3<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    308000 | PA      | $298059.92    | 0.49%             | 2026-08-12      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| BACARDI LTD / MARTINI BV                     | Bacardi Ltd / Bacardi-Martini BV                                                | CUSIP: 05635JAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    513000 | PA      | $521009.30    | 0.85%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                       | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBN6<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    302000 | PA      | $303325.19    | 0.50%             | 2029-02-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                        | Becton Dickinson & Co                                                           | CUSIP: 075887CQ0<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    302000 | PA      | $304374.33    | 0.50%             | 2028-02-13      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                | Boeing Co/The                                                                   | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    954000 | PA      | $1007207.34   | 1.64%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                         | Boston Properties LP                                                            | CUSIP: 10112RBA1<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              |  | US        |    199000 | PA      | $197048.49    | 0.32%             | 2028-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                              | CVS Health Corp                                                                 | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    465000 | PA      | $461891.61    | 0.75%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                 | Centene Corp                                                                    | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    423000 | PA      | $410177.35    | 0.67%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                            | Cisco Systems Inc                                                               | CUSIP: 17275RBR2<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    417000 | PA      | $425226.37    | 0.69%             | 2029-02-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                | Citigroup Inc                                                                   | CUSIP: 172967ME8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171275.90    | 0.28%             | 2030-03-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                     | Citizens Financial Group Inc                                                    | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    193000 | PA      | $199292.44    | 0.33%             | 2030-01-23      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                     | Columbia Pipelines Holding Co LLC                                               | CUSIP: 19828AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    242000 | PA      | $251520.43    | 0.41%             | 2028-08-15      | Fixed         | 6.04%                 | Yes           |                  2 | On Loan: No      |
| COMCAST CORP                                 | Comcast Corp                                                                    | CUSIP: 20030NEA5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    592000 | PA      | $605037.88    | 0.99%             | 2027-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| COMERICA INC                                 | Comerica Inc                                                                    | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    242000 | PA      | $248837.95    | 0.41%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                             | Crown Castle Inc                                                                | CUSIP: 22822VBB6<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    417000 | PA      | $419005.13    | 0.68%             | 2028-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                       | Daimler Trucks Finance North America LLC                                        | CUSIP: 233853AF7<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    519000 | PA      | $501625.76    | 0.82%             | 2026-12-14      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                      | John Deere Capital Corp                                                         | CUSIP: 24422EYF0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249038.87    | 0.41%             | 2030-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                       | Diamondback Energy Inc                                                          | CUSIP: 25278XAY5<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    302000 | PA      | $307491.89    | 0.50%             | 2030-01-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                             | Duke Energy Corp                                                                | CUSIP: 26441CBW4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    423000 | PA      | $428822.14    | 0.70%             | 2027-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Emera US Finance LP                          | Emera US Finance LP                                                             | CUSIP: 29103DAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254000 | PA      | $251279.76    | 0.41%             | 2026-06-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| FNB CORP                                     | FNB Corp/PA                                                                     | CUSIP: 302520AD3<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352433.42    | 0.58%             | 2030-12-11      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                          | Fifth Third Bancorp                                                             | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    513000 | PA      | $533615.51    | 0.87%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                   | Fiserv Inc                                                                      | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    417000 | PA      | $426200.44    | 0.70%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                     | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D59<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    417000 | PA      | $431543.06    | 0.70%             | 2028-11-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS INC                            | GXO Logistics Inc                                                               | CUSIP: 36262GAB7<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    308000 | PA      | $299335.22    | 0.49%             | 2026-07-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                       | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAF0<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    942000 | PA      | $965780.06    | 1.58%             | 2027-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                          | General Electric Co                                                             | CUSIP: 369604BZ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114451.30    | 0.19%             | 2030-07-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                         | Glencore Funding LLC                                                            | CUSIP: 378272BS6<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    254000 | PA      | $260099.94    | 0.42%             | 2029-04-04      | Fixed         | 5.37%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                          | Global Payments Inc                                                             | CUSIP: 37940XAP7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    417000 | PA      | $419440.24    | 0.68%             | 2027-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                      | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GES9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1202000 | PA      | $1231485.12   | 2.01%             | 2027-01-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HCA INC                                      | HCA Inc                                                                         | CUSIP: 404119CZ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    163000 | PA      | $166506.41    | 0.27%             | 2030-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                         | Kraft Heinz Foods Co                                                            | CUSIP: 423074AF0<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62517.11     | 0.10%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                    | Hess Corp                                                                       | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    543000 | PA      | $542782.24    | 0.89%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                             | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBT5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    417000 | PA      | $414555.85    | 0.68%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                      | Hyundai Capital America                                                         | CUSIP: 44891ADC8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    417000 | PA      | $424213.61    | 0.69%             | 2029-06-24      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| INGERSOLL RAND INC                           | Ingersoll Rand Inc                                                              | CUSIP: 45687VAD8<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    513000 | PA      | $524999.69    | 0.86%             | 2029-06-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                          | JPMorgan Chase & Co                                                             | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1304000 | PA      | $1351765.90   | 2.21%             | 2030-04-22      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                      | Jefferies Financial Group Inc                                                   | CUSIP: 47233WBM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    211000 | PA      | $218298.95    | 0.36%             | 2028-07-21      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                        | Keysight Technologies Inc                                                       | CUSIP: 49338LAF0<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    200000 | PA      | $187534.67    | 0.31%             | 2029-10-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                                   | Leidos Inc                                                                      | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |    302000 | PA      | $296703.46    | 0.48%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LINCOLN FIN GLBL FUNDING                     | Lincoln Financial Global Funding                                                | CUSIP: 53359KAA9<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |    193000 | PA      | $197732.81    | 0.32%             | 2030-01-13      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                      | MPLX LP                                                                         | CUSIP: 55336VAR1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    447000 | PA      | $440903.48    | 0.72%             | 2028-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARS INC                                     | Mars Inc                                                                        | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1208000 | PA      | $1219994.28   | 1.99%             | 2030-03-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                     | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748CA8<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    423000 | PA      | $426656.04    | 0.70%             | 2030-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                               | Morgan Stanley                                                                  | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129528.87    | 0.21%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                     | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFG2<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    465000 | PA      | $470735.68    | 0.77%             | 2028-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                  | Netflix Inc                                                                     | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    725000 | PA      | $736450.12    | 1.20%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                    | ONEOK Inc                                                                       | CUSIP: 682680AU7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    435000 | PA      | $435432.80    | 0.71%             | 2028-07-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC                                  | Ovintiv Inc                                                                     | CUSIP: 69047QAB8<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    284000 | PA      | $291082.16    | 0.48%             | 2028-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                       | PNC Financial Services Group Inc/The                                            | CUSIP: 693475AZ8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    175000 | PA      | $161759.31    | 0.26%             | 2030-01-22      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                       | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    284000 | PA      | $290712.47    | 0.47%             | 2027-10-20      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                      | Pfizer Investment Enterprises Pte Ltd                                           | CUSIP: 716973AC6<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    513000 | PA      | $515001.56    | 0.84%             | 2028-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                       | Philip Morris International Inc                                                 | CUSIP: 718172CV9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    465000 | PA      | $472116.23    | 0.77%             | 2027-11-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                     | RTX Corp                                                                        | CUSIP: 75513ECT6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    471000 | PA      | $477959.90    | 0.78%             | 2026-11-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                             | Ryder System Inc                                                                | CUSIP: 78355HKW8<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    302000 | PA      | $308677.60    | 0.50%             | 2028-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics Inc                           | Steel Dynamics Inc                                                              | CUSIP: 858119BF6<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    254000 | PA      | $253469.29    | 0.41%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SYNOVUS FINANCIAL CORP                       | Synovus Financial Corp                                                          | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |    193000 | PA      | $198470.35    | 0.32%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                            | Sysco Corp                                                                      | CUSIP: 871829BC0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    423000 | PA      | $418170.56    | 0.68%             | 2026-07-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA Inc                             | T-Mobile USA Inc                                                                | CUSIP: 87264AAT2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    302000 | PA      | $301647.17    | 0.49%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                             | T-Mobile USA Inc                                                                | CUSIP: 87264ADL6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    326000 | PA      | $322700.10    | 0.53%             | 2029-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                     | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556CT7<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    302000 | PA      | $305332.88    | 0.50%             | 2027-11-21      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                      | UDR Inc                                                                         | CUSIP: 90265EAL4<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |    254000 | PA      | $249665.11    | 0.41%             | 2026-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                       | UnitedHealth Group Inc                                                          | CUSIP: 91324PEP3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    513000 | PA      | $524285.16    | 0.86%             | 2028-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                     | Volkswagen Group of America Finance LLC                                         | CUSIP: 928668CM2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    417000 | PA      | $417635.52    | 0.68%             | 2029-08-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                         | WEC Energy Group Inc                                                            | CUSIP: 92939UAJ5<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    163000 | PA      | $165237.48    | 0.27%             | 2027-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                   | Zoetis Inc                                                                      | CUSIP: 98978VAU7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    284000 | PA      | $284400.39    | 0.46%             | 2025-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                       | US 5YR NOTE (CBT) SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        46 | NC      | $4169.38      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-23

**Name of Applicant:** Federated Hermes ETF Trust

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes ETF Trust

**Title:** Chief Compliance Officer