# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-25-001843
**Filing Date:** 2025-10
**Character Count:** 837420
**Document Hash:** 7abfbcf839d2dbd13ff5c1510a2fe0b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-001843.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001099263-25-001843

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Exchange-Traded Funds, Inc.
- **CENTRAL INDEX KEY:** 0001795351

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 251424326

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

## Series and Classes Contracts Data

### T. Rowe Price Total Return ETF (Series ID: S000072798)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000229339 | T. Rowe Price Total Return ETF | TOTR            |

## Nport-Ex

T. ROWE PRICE TOTAL RETURN ETF

------

August 31, 2025 Unaudited

---

| | | |
|:---|:---|:---|
| **PORTFOLIO OF INVESTMENTS‡** | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **ASSET-BACKED SECURITIES 14.8%** | **ASSET-BACKED SECURITIES 14.8%** | **ASSET-BACKED SECURITIES 14.8%** |
| **Car Loan 4.3%** |  |  |
| Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class B, 5.827%, 5/17/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;143 |
| Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class A2, 4.97%, 9/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp;173 |
| ARI Fleet Lease Trust, Series 2025-A, Class B, 4.70%, 1/17/34 (1) | 1000 | 1009 |
| Avis Budget Rental Car Funding AESOP, Series 2022-5A, Class C, 6.24%, 4/20/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Avis Budget Rental Car Funding AESOP, Series 2023-2A, Class C, 6.18%, 10/20/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| Avis Budget Rental Car Funding AESOP, Series 2023-2A, Class D, 7.26%, 10/20/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;206 |
| Avis Budget Rental Car Funding AESOP, Series 2023-3A, Class D, 7.32%, 2/20/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| Avis Budget Rental Car Funding AESOP, Series 2024-3A, Class B, 5.58%, 12/20/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;370 |
| Bayview Opportunity Master Fund VII, Series 2024-CAR1, Class B, FRN, SOFR30A + 1.30%, 5.648%, 12/26/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| CarMax Auto Owner Trust, Series 2022-4, Class D, 8.08%, 4/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;177 |
| CarMax Auto Owner Trust, Series 2023-3, Class C, 5.61%, 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;194 |
| CarMax Auto Owner Trust, Series 2024-1, Class C, 5.47%, 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;87 |
| CarMax Auto Owner Trust, Series 2024-2, Class D, 6.42%, 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;94 |
| CarMax Auto Owner Trust, Series 2024-3, Class D, 5.67%, 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;41 |
| CarMax Select Receivables Trust, Series 2024-A, Class B, 5.35%, 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;41 |
| CarMax Select Receivables Trust, Series 2024-A, Class C, 5.62%, 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;179 |
| CarMax Select Receivables Trust, Series 2025-A, Class B, 5.01%, 9/16/30 | 1400 | 1419 |
| Carvana Auto Receivables Trust, Series 2021-P1, Class D, 1.82%, 12/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;93 |
| Carvana Auto Receivables Trust, Series 2022-N1, Class D, 4.13%, 12/11/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;15 |
| Carvana Auto Receivables Trust, Series 2022-P1, Class C, 3.30%, 4/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;29 |
| Carvana Auto Receivables Trust, Series 2023-N1, Class C, 5.92%, 7/10/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;746 |
| Carvana Auto Receivables Trust, Series 2023-N3, Class B, 6.45%, 5/10/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;458 |
| Carvana Auto Receivables Trust, Series 2024-N1, Class B, 5.63%, 5/10/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;56 |
| Carvana Auto Receivables Trust, Series 2024-N1, Class C, 5.80%, 5/10/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;153 |
| Carvana Auto Receivables Trust, Series 2024-N2, Class B, 5.67%, 9/10/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| Carvana Auto Receivables Trust, Series 2024-N2, Class C, 5.82%, 9/10/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;82 |
| Carvana Auto Receivables Trust, Series 2024-N3, Class B, 4.67%, 12/10/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;311 |
| Carvana Auto Receivables Trust, Series 2025-N1, Class A3, 4.91%, 8/10/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;590 |
| Carvana Auto Receivables Trust, Series 2025-N1, Class B, 5.05%, 5/12/31 (1) | 1177 | 1187 |
| Carvana Auto Receivables Trust, Series 2025-P1, Class C, 5.34%, 8/11/31 | 1340 | 1369 |
| Chase Auto Credit Linked Notes, Series 2025-1, Class B, 4.753%, 2/25/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;479 |
| Enterprise Fleet Financing, Series 2023-1, Class A3, 5.42%, 10/22/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| Enterprise Fleet Financing, Series 2025-3, Class A3, 4.46%, 9/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;217 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class D, 6.69%, 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class B, 6.31%, 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Exeter Automobile Receivables Trust, Series 2025-2A, Class B, 4.92%, 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;788 |
| Exeter Automobile Receivables Trust, Series 2025-4A, Class B, 4.40%, 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;191 |
| Exeter Automobile Receivables Trust, Series 2025-4A, Class C, 4.57%, 6/16/31 | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;688 |
| Exeter Select Automobile Receivables Trust, Series 2025-2, Class B, 4.63%, 11/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;182 |
| Exeter Select Automobile Receivables Trust, Series 2025-2, Class C, 4.91%, 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;439 |
| Ford Credit Auto Lease Trust, Series 2023-B, Class C, 6.43%, 4/15/27 | 1420 | 1435 |
| Ford Credit Auto Lease Trust, Series 2023-B, Class D, 6.97%, 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;25 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class B, 5.31%, 5/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 |
| GM Financial Automobile Leasing Trust, Series 2025-1, Class B, 4.89%, 2/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 |
| GM Financial Consumer Automobile Receivables Trust, Series 2023-1, Class B, 5.03%, 9/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class B, 5.72%, 1/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class C, 5.92%, 2/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class B, 5.73%, 6/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101 |
| GMF Floorplan Owner Revolving Trust, Series 2025-1A, Class C, 4.88%, 3/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804 |
| GMF Floorplan Owner Revolving Trust, Series 2025-2A, Class C, 4.96%, 3/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 |
| Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class B1, 6.153%, 5/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 |
| Huntington Bank Auto Credit-Linked Notes, Series 2024-2, Class B1, 5.442%, 10/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 |
| Huntington Bank Auto Credit-Linked Notes, Series 2025-1, Class B1, 4.957%, 3/21/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 |
| Navistar Financial Dealer Note Master Owner Trust, Series 2024-1, Class B, 5.79%, 4/25/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| Navistar Financial Dealer Note Master Owner Trust, Series 2024-1, Class C, 6.13%, 4/25/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| Santander Bank Auto Credit-Linked Notes, Series 2023-B, Class C, 5.933%, 12/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151 |
| Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class B, 5.622%, 6/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 |
| Santander Bank Auto Credit-Linked Notes, Series 2024-B, Class B, 4.965%, 1/18/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74%, 10/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Santander Drive Auto Receivables Trust, Series 2022-6, Class C, 4.96%, 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Santander Drive Auto Receivables Trust, Series 2025-2, Class B, 4.87%, 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683 |
| Santander Drive Auto Receivables Trust, Series 2025-2, Class C, 5.06%, 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 |
| SBNA Auto Lease Trust, Series 2025-A, Class A4, 4.87%, 7/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038%, 7/25/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| SFS Auto Receivables Securitization Trust, Series 2024-1A, Class B, 5.38%, 1/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 |
| SFS Auto Receivables Securitization Trust, Series 2024-1A, Class C, 5.51%, 1/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| SFS Auto Receivables Securitization Trust, Series 2025-1A, Class C, 5.20%, 10/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 |
| Toyota Lease Owner Trust, Series 2025-A, Class A4, 4.81%, 6/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 |
| US Bank, Series 2023-1, Class B, 6.789%, 8/25/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 |
| Wheels Fleet Lease Funding 1, Series 2025-1A, Class A1, 4.57%, 1/18/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 |
| Wheels Fleet Lease Funding 1, Series 2025-1A, Class C, 5.08%, 1/18/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 |
|  |  | 24174 |
| **Other Asset-Backed Securities 10.5%** |  |  |
| AMSR Trust, Series 2020-SFR5, Class A, 1.379%, 11/17/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 |
| AMSR Trust, Series 2021-SFR2, Class C, 1.877%, 8/17/38 (1) | 1445 | &nbsp;&nbsp;&nbsp;1400 |
| AMSR Trust, Series 2021-SFR2, Class A, 1.527%, 8/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 |
| AMSR Trust, Series 2021-SFR4, Class A, 2.117%, 12/17/38 (1) | 1785 | &nbsp;&nbsp;&nbsp;1732 |

---

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T. ROWE PRICE TOTAL RETURN ETF

------

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| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Amur Equipment Finance Receivables X, Series 2022-1A, Class D, 2.91%, 8/21/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Amur Equipment Finance Receivables XI, Series 2022-2A, Class A2, 5.30%, 6/21/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| Amur Equipment Finance Receivables XIII, Series 2024-1A, Class B, 5.37%, 1/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;143 |
| ARES LX CLO, Series 2021-60A, Class C, FRN, 3M TSFR + 2.21%, 6.541%, 7/18/34 (1) | 1500 | 1503 |
| Auxilior Term Funding, Series 2024-1A, Class A3, 5.49%, 7/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| Bain Capital Credit, Series 2022-3A, Class BR, FRN, 3M TSFR + 1.63%, 5.952%, 7/17/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;780 |
| Barings CLO, Series 2021-3A, Class B1R, FRN, 3M TSFR + 1.63%, 5.959%, 1/18/35 (1) | 1150 | 1151 |
| Barings CLO, Series 2022-4A, Class A1R, FRN, 3M TSFR + 1.36%, 5.685%, 10/20/37 (1) | 1085 | 1088 |
| Battalion CLO XII, Series 2018-12A, Class BRR, FRN, 3M TSFR + 1.20%, 5.385%, 5/17/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;280 |
| Battalion CLO XII, Series 2018-12A, Class CRR, FRN, 3M TSFR + 1.55%, 5.735%, 5/17/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;305 |
| Battalion CLO XV, Series 2020-15A, Class CR, FRN, 3M TSFR + 1.90%, 6.222%, 1/17/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;250 |
| Battalion CLO XV, Series 2020-15A, Class BR, FRN, 3M TSFR + 1.50%, 5.822%, 1/17/33 (1) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;998 |
| Benefit Street Partners CLO, Series 2015-6BR, Class A1R, FRN, 3M TSFR + 1.18%, 5.505%, 4/20/38 (1) | 1340 | 1339 |
| Benefit Street Partners CLO, Series 2021-23A, Class B1R, FRN, 3M TSFR + 1.55%, 5.868%, 4/25/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;249 |
| CCG Receivables Trust, Series 2025-1, Class A2, 4.48%, 10/14/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;211 |
| CCG Receivables Trust, Series 2025-1, Class C, 4.89%, 10/14/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;507 |
| Chenango Park CLO, Series 2018-1A, Class BR, FRN, 3M TSFR + 1.80%, 6.118%, 4/15/30 (1) | 1235 | 1236 |
| CIFC Funding, Series 2013-4A, Class DR2, FRN, 3M TSFR + 1.90%, 6.214%, 4/27/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;836 |
| CIFC Funding, Series 2016-1A, Class D1R3, FRN, 3M TSFR + 2.30%, 6.625%, 10/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;245 |
| Clarus Capital Funding, Series 2024-1A, Class A2, 4.71%, 8/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| Clarus Capital Funding, Series 2024-1A, Class B, 4.79%, 8/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Cologix Canadian Issuer, Series 2022-1CAN, Class A2, 4.94%, 1/25/52 (CAD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Crown Point CLO 7, Series 2018-7A, Class AR, FRN, 3M TSFR + 1.23%, 5.555%, 10/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 |
| CyrusOne Data Centers Issuer I, Series 2024-2A, Class A2, 4.50%, 5/20/49 (1) | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;221 |
| Dell Equipment Finance Trust, Series 2024-1, Class D, 6.12%, 9/23/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| Dell Equipment Finance Trust, Series 2024-1, Class C, 5.73%, 3/22/30 (1) | 1610 | 1638 |
| Dell Equipment Finance Trust, Series 2024-2, Class B, 4.82%, 8/22/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| Dell Equipment Finance Trust, Series 2024-2, Class D, 5.29%, 2/24/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| Dext ABS, Series 2025-1, Class C, 5.39%, 8/15/35 (1) | 1340 | 1365 |
| DLLAA, Series 2023-1A, Class A3, 5.64%, 2/22/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 |
| DLLAA, Series 2023-1A, Class A4, 5.73%, 10/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
| DLLST, Series 2024-1A, Class A4, 4.93%, 4/22/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| Driven Brands Funding, Series 2019-1A, Class A2, 4.641%, 4/20/49 (1) | &nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp;637 |
| Dryden 93 CLO, Series 2021-93A, Class BR, FRN, 3M TSFR + 1.70%, 6.018%, 1/15/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;251 |

---

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T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Elara HGV Timeshare Issuer, Series 2023-A, Class A, 6.16%, 2/25/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 |
| Elara HGV Timeshare Issuer, Series 2023-A, Class C, 7.30%, 2/25/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 |
| FirstKey Homes Trust, Series 2020-SFR1, Class B, 1.74%, 8/17/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;125 |
| FirstKey Homes Trust, Series 2020-SFR2, Class B, 1.567%, 10/19/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;288 |
| FirstKey Homes Trust, Series 2020-SFR2, Class D, 1.968%, 10/19/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;501 |
| FirstKey Homes Trust, Series 2020-SFR2, Class C, 1.667%, 10/19/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;337 |
| FOCUS Brands Funding, Series 2017-1A, Class A2II, 5.093%, 4/30/47 (1) | 1353 | 1349 |
| FOCUS Brands Funding, Series 2022-1, Class A2, 7.206%, 7/30/52 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| Frontier Issuer, Series 2023-1, Class C, 11.50%, 8/20/53 (1) | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;225 |
| Frontier Issuer, Series 2024-1, Class A2, 6.19%, 6/20/54 (1) | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;646 |
| Frontier Issuer, Series 2024-1, Class C, 11.16%, 6/20/54 (1) | 1230 | 1386 |
| Hardee's Funding, Series 2020-1A, Class A2, 3.981%, 12/20/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;761 |
| Hardee's Funding, Series 2021-1A, Class A2, 2.865%, 6/20/51 (1) | &nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;183 |
| Hardee's Funding, Series 2024-1A, Class A2, 7.253%, 3/20/54 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;103 |
| Hilton Grand Vacations Trust, Series 2020-AA, Class C, 6.42%, 2/25/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| Home Partners of America Trust, Series 2022-1, Class A, 3.93%, 4/17/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;164 |
| Home Partners of America Trust, Series 2022-1, Class D, 4.73%, 4/17/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp;141 |
| HPEFS Equipment Trust, Series 2023-1A, Class B, 5.73%, 4/20/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| HPEFS Equipment Trust, Series 2023-2A, Class C, 6.48%, 1/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| HPEFS Equipment Trust, Series 2023-2A, Class D, 6.97%, 7/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| HPEFS Equipment Trust, Series 2024-1A, Class C, 5.33%, 5/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;206 |
| HPEFS Equipment Trust, Series 2024-1A, Class D, 5.82%, 11/20/31 (1) | 1600 | 1623 |
| HPEFS Equipment Trust, Series 2024-2A, Class B, 5.35%, 10/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| HPEFS Equipment Trust, Series 2024-2A, Class D, 5.82%, 4/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| Jack in the Box Funding, Series 2022-1A, Class A2I, 3.445%, 2/26/52 (1) | 1544 | 1493 |
| Jamestown CLO XV, Series 2020-15A, Class A1R, FRN, 3M TSFR + 1.37%, 5.688%, 7/15/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;250 |
| KKR CLO 43, Series 2022-43A, Class BR, FRN, 3M TSFR + 2.50%, 6.818%, 1/15/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;301 |
| Madison Park Funding, Series 2019-35A, Class CR, FRN, 3M TSFR + 2.16%, 6.487%, 4/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;256 |
| Madison Park Funding LX, Series 2022-60A, Class BR, FRN, 3M TSFR + 1.75%, 6.068%, 10/25/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;317 |
| Madison Park Funding LXI, Series 2023-61A, Class B, FRN, 3M TSFR + 2.40%, 6.725%, 1/20/37 (1) | 1400 | 1408 |
| Madison Park Funding XXIV, Series 2016-24A, Class CR2, FRN, 3M TSFR + 2.05%, 6.375%, 10/20/29 (1) | 1625 | 1626 |
| Madison Park Funding XXX, Series 2018-30A, Class BR, FRN, 3M TSFR + 1.75%, 6.068%, 7/16/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;704 |
| MMAF Equipment Finance, Series 2020-A, Class A4, 1.40%, 8/9/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 |
| MVW Owner Trust, Series 2020-1A, Class C, 4.21%, 10/20/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 |
| MVW Owner Trust, Series 2023-1A, Class C, 6.54%, 10/20/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| MVW Owner Trust, Series 2023-1A, Class B, 5.42%, 10/20/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Neuberger Berman Loan Advisers CLO 43, Series 2021-43A, Class AR, FRN, 3M TSFR + 1.05%, 5.372%, 7/17/36 (1) | 1380 | 1376 |
| New Residential Mortgage Loan Trust, Series 2025-NQM4, Class A1, CMO, ARM, 5.35%, 7/25/65 (1) | 1307 | 1318 |
| NMEF Funding, Series 2025-A, Class A2, 4.72%, 7/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;391 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Northwoods Capital XIV-B, Series 2018-14BA, Class AR, FRN, 3M TSFR + 1.25%, 5.478%, 11/13/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;155 |
| OCP CLO, Series 2017-13A, Class B1R2, FRN, 3M TSFR + 1.70%, 6.025%, 11/26/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;252 |
| Octagon Investment Partners 47, Series 2020-1A, Class A2R2, FRN, 3M TSFR + 1.55%, 5.882%, 1/22/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;333 |
| Octagon Investment Partners 47, Series 2020-1A, Class BR2, FRN, 3M TSFR + 1.70%, 6.032%, 1/22/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;326 |
| Octane Receivables Trust, Series 2023-1A, Class A, 5.87%, 5/21/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Octane Receivables Trust, Series 2023-3A, Class C, 6.74%, 8/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| Octane Receivables Trust, Series 2024-RVM1, Class A, 5.01%, 1/22/46 (1) | 1043 | 1055 |
| OZLM Funding II, Series 2012-2A, Class BR4, FRN, 3M TSFR + 1.75%, 6.08%, 7/30/37 (1) | 1270 | 1270 |
| Palmer Square CLO, Series 2021-1A, Class A1AR, FRN, 3M TSFR + 1.15%, 5.475%, 4/20/38 (1) | 1335 | 1335 |
| PEAC Solutions Receivables, Series 2025-1A, Class A2, 4.94%, 10/20/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;337 |
| Post Road Equipment Finance, Series 2024-1A, Class A2, 5.59%, 11/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 |
| Post Road Equipment Finance, Series 2024-1A, Class C, 5.81%, 10/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| Progress Residential Trust, Series 2021-SFR8, Class E1, 2.382%, 10/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;621 |
| Progress Residential Trust, Series 2025-SFR2, Class A, 3.305%, 4/17/42 (1) | 1634 | 1554 |
| Rockford Tower CLO, Series 2022-2A, Class CR, FRN, 3M TSFR + 3.30%, 7.625%, 10/20/35 (1) | 1475 | 1496 |
| RR 34, Series 2024-34RA, Class A2AR, FRN, 3M TSFR + 1.70%, 6.018%, 10/15/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;250 |
| SCF Equipment Leasing, Series 2024-1A, Class D, 6.58%, 6/21/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;132 |
| SCF Equipment Trust, Series 20222-1A, Class B, 3.22%, 10/21/30 (1) | 1118 | 1112 |
| SEB Funding, Series 2024-1A, Class A2, 7.386%, 4/30/54 (1) | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;149 |
| Shackleton CLO, Series 2019-14A, Class BRR, FRN, 3M TSFR + 1.55%, 5.875%, 7/20/34 (1) | 1010 | 1011 |
| Sierra Timeshare Receivables Funding, Series 2022-3A, Class B, 6.32%, 7/20/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
| Signal Peak CLO 5, Series 2018-5A, Class BR, FRN, 3M TSFR + 2.20%, 6.518%, 4/25/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;251 |
| Sonic Capital, Series 2020-1A, Class A2I, 3.845%, 1/20/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;303 |
| SOUND POINT CLO XXII, Series 2019-1A, Class BRR, FRN, 3M TSFR + 1.65%, 5.975%, 1/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;250 |
| Symphony CLO XVI, Series 2015-16A, Class ARR, FRN, 3M TSFR + 1.20%, 5.518%, 10/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;156 |
| THL Credit Wind River CLO, Series 2019-3A, Class CR2, FRN, 3M TSFR + 2.00%, 6.318%, 4/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;190 |
| TPIC SPV I, Series 2024-1A, Class A1, 7.131%, 11/30/44, Acquisition Date: 12/10/24, Cost $280 (2)(3) | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;273 |
| Tricon American Homes, Series 2019-SFR1, Class D, 3.198%, 3/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943%, 7/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp;735 |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75%, 6/17/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Tricon Residential Trust, Series 2024-SFR2, Class D, 6.00%, 6/17/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;157 |
| Trinitas CLO VI, Series 2017-6A, Class ARRR, FRN, 3M TSFR + 1.33%, 5.648%, 1/25/34 (1) | 1100 | 1101 |
| Trinitas CLO VII, Series 2017-7A, Class A1R2, FRN, 3M TSFR + 1.06%, 5.378%, 1/25/35 (1) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;999 |
| Verdant Receivables, Series 2023-1A, Class A2, 6.24%, 1/13/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| Verdant Receivables, Series 2024-1A, Class A2, 5.68%, 12/12/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Verizon Master Trust, Series 2024-6, Class C, 4.67%, 8/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668 |
| Verizon Master Trust, Series 2025-3, Class C, 4.90%, 3/20/30 | 1500 | &nbsp;&nbsp;&nbsp;1507 |
| Voya CLO, Series 2018-3A, Class A1R2, FRN, 3M TSFR + 1.20%, 5.518%, 10/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 |
| Zaxbys Funding, Series 2021-1A, Class A2, 3.238%, 7/30/51 (1) | 1248 | &nbsp;&nbsp;&nbsp;1175 |
|  |  | 58453 |
| **Student Loan 0.0%** |  |  |
| Navient Private Education Refi Loan Trust, Series 2019-CA, Class B, 3.67%, 2/15/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 |
| **Total Asset-Backed Securities<br> (Cost $82,014)** |  | **82770** |
| **BANK LOANS 6.2% (4)** | **BANK LOANS 6.2% (4)** | **BANK LOANS 6.2% (4)** |
| **FINANCIAL 0.0%** |  |  |
| **Financial Services 0.0%** |  |  |
| Advisor Group, FRN, 1M TSFR + 3.00%, 7.316%, 7/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 |
| Total Financial |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 |
| **FINANCIAL INSTITUTIONS 1.3%** |  |  |
| **Brokerage Asset Managers Exchanges 0.2%** |  |  |
| Edelman Financial Center, FRN, 1M TSFR + 5.25%, 9.566%, 10/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| HighTower Holdings, FRN, 3M TSFR + 2.75%, 7.071%, 2/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664 |
| Jane Street Group, FRN, 3M TSFR + 2.00%, 6.199%, 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 |
| RFS Opco, FRN, 3M TSFR + 4.75%, 9.06%, 4/4/31 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| RFS Opco, FRN, 3M TSFR + 4.75%, 9.046%, 4/4/31 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| RFS Opco, FRN, 3M TSFR + 0.00%, 4/4/31 (2)(5) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
|  |  | &nbsp;&nbsp;&nbsp;1105 |
| **Insurance 1.1%** |  |  |
| Acrisure, FRN, 1M TSFR + 3.25%, 7.566%, 6/5/32 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 |
| Alera Group, FRN, 1M TSFR + 3.25%, 7.566%, 5/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 |
| Alera Group, FRN, 1M TSFR + 5.50%, 9.816%, 5/30/33 | &nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849 |
| Alliant Holdings Intermediate, FRN, 1M TSFR + 2.50%, 6.823%, 9/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767 |
| Asurion, FRN, 1M TSFR + 5.25%, 9.68%, 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 |
| Asurion, FRN, 1M TSFR + 5.25%, 9.68%, 1/20/29 (6) | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 |
| Asurion, FRN, 1M TSFR + 4.25%, 8.666%, 8/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 |
| Asurion, B-13, FRN, 1M TSFR + 4.25%, 8.566%, 9/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158 |
| HUB International, FRN, 3M TSFR + 2.25%, 6.575%, 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| Jones DesLauriers Insurance Management, FRN, 3M TSFR + 2.75%, 7.058%, 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 |
| OneDigital Borrower, FRN, 1M TSFR + 5.25%, 9.566%, 7/2/32 | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 |
| OneDigital Borrower, FRN, 1M TSFR + 3.00%, 7/2/31 (6) | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 |
| Truist Insurance Holdings, FRN, 3M TSFR + 4.75%, 9.046%, 5/6/32 | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 |
| Truist Insurance Holdings, FRN, 3M TSFR + 2.75%, 7.046%, 5/6/31 | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 |
|  |  | &nbsp;&nbsp;&nbsp;6377 |
| Total Financial Institutions |  | &nbsp;&nbsp;&nbsp;7482 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **INDUSTRIAL 4.6%** |  |  |
| **Basic Industry 0.1%** |  |  |
| Arsenal AIC Parent, FRN, 1M TSFR + 2.75%, 7.066%, 8/18/30 | 297 | &nbsp;&nbsp;&nbsp;&nbsp;297 |
| PMHC II, FRN, 3M TSFR + 4.25%, 8.728%, 4/23/29 | 156 | &nbsp;&nbsp;&nbsp;&nbsp;124 |
| Qnity Electronics, FRN, 1M TSFR + 2.00%, 8/12/32 (6) | 115 | &nbsp;&nbsp;&nbsp;&nbsp;115 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;536 |
| **Capital Goods 0.8%** |  |  |
| Charter NEX US, FRN, 1M TSFR + 2.75%, 6.925%, 11/29/30 | 835 | &nbsp;&nbsp;&nbsp;&nbsp;838 |
| CPM Holdings, FRN, 1M TSFR + 4.50%, 8.78%, 9/28/28 | 170 | &nbsp;&nbsp;&nbsp;&nbsp;165 |
| Engineered Machinery Holdings, FRN, 3M TSFR + 6.50%, 11.057%, 5/21/29 | 269 | &nbsp;&nbsp;&nbsp;&nbsp;269 |
| Engineered Machinery Holdings, FRN, 3M TSFR + 6.00%, 10.557%, 5/21/29 | 286 | &nbsp;&nbsp;&nbsp;&nbsp;286 |
| Filtration Group, FRN, 1M TSFR + 2.75%, 7.066%, 10/21/28 | 624 | &nbsp;&nbsp;&nbsp;&nbsp;626 |
| LTI Holdings, FRN, 1M TSFR + 4.25%, 8.566%, 7/29/29 | 427 | &nbsp;&nbsp;&nbsp;&nbsp;428 |
| Madison Safety & Flow, FRN, 1M TSFR + 2.75%, 7.066%, 9/26/31 | 138 | &nbsp;&nbsp;&nbsp;&nbsp;139 |
| MI Windows & Doors, FRN, 1M TSFR + 2.75%, 7.066%, 3/28/31 | 188 | &nbsp;&nbsp;&nbsp;&nbsp;189 |
| Pro Mach Group, FRN, 1M TSFR + 2.75%, 7.066%, 8/31/28 | 140 | &nbsp;&nbsp;&nbsp;&nbsp;140 |
| Quikrete Holdings, FRN, 1M TSFR + 2.25%, 6.566%, 1/30/32 | 267 | &nbsp;&nbsp;&nbsp;&nbsp;267 |
| TK Elevator Midco GmbH, FRN, 6M TSFR + 3.00%, 7.197%, 4/30/30 | 467 | &nbsp;&nbsp;&nbsp;&nbsp;469 |
| TransDigm, FRN, 1M TSFR + 2.50%, 6.853%, 8/19/32 | 250 | &nbsp;&nbsp;&nbsp;&nbsp;250 |
| WEC US Holdings, FRN, 1M TSFR + 2.25%, 6.53%, 1/27/31 | 143 | &nbsp;&nbsp;&nbsp;&nbsp;143 |
|  |  | 4209 |
| **Communications 0.7%** |  |  |
| BCPE Pequod Buyer, FRN, 1M TSFR + 3.00%, 7.316%, 11/25/31 | 274 | &nbsp;&nbsp;&nbsp;&nbsp;275 |
| Clear Channel Outdoor Holdings, FRN, 1M TSFR + 4.00%, 8.43%, 8/21/28 | 358 | &nbsp;&nbsp;&nbsp;&nbsp;358 |
| CMG Media, FRN, 3M TSFR + 3.50%, 7.896%, 6/18/29 | 337 | &nbsp;&nbsp;&nbsp;&nbsp;323 |
| Connect Finco, FRN, 1M TSFR + 4.50%, 8.816%, 9/27/29 | 164 | &nbsp;&nbsp;&nbsp;&nbsp;162 |
| CSC Holdings, FRN, 3M TSFR + 1.50%, 9.00%, 4/15/27 | 443 | &nbsp;&nbsp;&nbsp;&nbsp;432 |
| CSC Holdings, FRN, 1M TSFR + 4.50%, 8.65%, 1/18/28 | 466 | &nbsp;&nbsp;&nbsp;&nbsp;464 |
| DirecTV Financing, FRN, 1M TSFR + 5.50%, 2/18/31 (6) | &nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| EW Scripps, FRN, 1M TSFR + 5.75%, 10.015%, 6/30/28 | 167 | &nbsp;&nbsp;&nbsp;&nbsp;167 |
| EW Scripps, FRN, 1M TSFR + 3.35%, 7.615%, 11/30/29 | 254 | &nbsp;&nbsp;&nbsp;&nbsp;244 |
| Level 3 Financing, FRN, 1M TSFR + 4.25%, 8.566%, 3/29/32 | 710 | &nbsp;&nbsp;&nbsp;&nbsp;713 |
| Lumen Technologies, FRN, 1M TSFR + 6.00%, 10.316%, 6/1/28 | &nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 |
| Radiate Holdco, FRN, 1M TSFR + 3.50%, 9.43%, 9/25/29 (1.50% PIK and 1M TSFR + 3.50% Cash) | 179 | &nbsp;&nbsp;&nbsp;&nbsp;146 |
| Sinclair Television Group, FRN, 3M TSFR + 3.30%, 7.87%, 12/31/29 | 120 | &nbsp;&nbsp;&nbsp;&nbsp;108 |
| Townsquare Media, FRN, 3M TSFR + 5.00%, 9.195%, 2/19/30 (2) | 164 | &nbsp;&nbsp;&nbsp;&nbsp;146 |
| ViaSat, FRN, 1M TSFR + 4.50%, 8.93%, 3/2/29 | 164 | &nbsp;&nbsp;&nbsp;&nbsp;163 |
|  |  | 3804 |
| **Consumer Cyclical 0.4%** |  |  |
| Autokiniton US Holdings, FRN, 1M TSFR + 4.00%, 4/6/28 (6) | &nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Boots Group Bidco, FRN, 3M TSFR + 3.50%, 7/17/32 (6) | &nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |
| Caesars Entertainment, FRN, 1M TSFR + 2.25%, 6.566%, 2/6/30 | 144 | &nbsp;&nbsp;&nbsp;&nbsp;143 |
| Clarios Global, FRN, 1M TSFR + 2.75%, 7.066%, 1/28/32 | 390 | &nbsp;&nbsp;&nbsp;&nbsp;390 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Delta 2 (LUX), FRN, 3M TSFR + 2.00%, 6.296%, 9/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;130 |
| Delta 2 (LUX), FRN, 3M TSFR + 2.00%, 6.291%, 9/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| EG America, FRN, 3M TSFR + 3.50%, 7.699%, 2/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;265 |
| EOC Borrower, FRN, 1M TSFR + 3.00%, 7.316%, 3/24/32 | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;240 |
| IRB Holding, FRN, 1M TSFR + 2.50%, 6.816%, 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;228 |
| Ontario Gaming GTA, FRN, 3M TSFR + 4.25%, 8.546%, 8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;118 |
| PetSmart, FRN, 1M TSFR + 4.00%, 8.36%, 8/18/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| UFC Holdings, FRN, 3M TSFR + 2.25%, 6.465%, 11/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;149 |
| Wand NewCo 3, FRN, 1M TSFR + 2.50%, 6.816%, 1/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;285 |
|  |  | 2156 |
| **Consumer Non-Cyclical 0.5%** |  |  |
| Bausch & Lomb, FRN, 1M TSFR + 4.25%, 8.566%, 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;653 | &nbsp;&nbsp;&nbsp;&nbsp;653 |
| Bausch Health, FRN, 1M TSFR + 6.25%, 10.566%, 10/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;448 |
| LifePoint Health, FRN, 3M TSFR + 3.75%, 8.068%, 5/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp;350 |
| Medline Borrower, FRN, 1M TSFR + 2.00%, 6.316%, 10/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;185 |
| Medline Borrower, FRN, 1M TSFR + 2.00%, 6.316%, 10/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;340 |
| Opal Bidco, FRN, 6M TSFR + 3.25%, 7.435%, 4/28/32 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;658 |
| Paradigm Parent, FRN, 3M TSFR + 4.50%, 8.822%, 4/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;157 |
| Parexel International, FRN, 1M TSFR + 2.50%, 6.816%, 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;153 |
|  |  | 2944 |
| **Energy 0.2%** |  |  |
| Brazos Delaware II, FRN, 1M TSFR + 2.50%, 6.723%, 2/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp;128 |
| Hilcorp Energy I, FRN, 1M TSFR + 2.00%, 6.15%, 2/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp;816 |
| Prairie ECI Acquiror, FRN, 1M TSFR + 3.75%, 8.066%, 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;155 |
|  |  | 1099 |
| **Health Care 0.0%** |  |  |
| Loire Finco Luxembourg, FRN, 3M TSFR + 4.00%, 8.308%, 1/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp;&nbsp;&nbsp;251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;251 |
| **Industrial Other 0.0%** |  |  |
| Albion Financing 3, FRN, 3M TSFR + 3.00%, 7.215%, 5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;260 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;260 |
| **Technology 1.8%** |  |  |
| Applied Systems, FRN, 3M TSFR + 4.50%, 8.796%, 2/23/32 | 1081 | 1106 |
| Applied Systems, FRN, 3M TSFR + 2.25%, 6.446%, 2/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp;641 |
| Ascend Learning, FRN, 1M TSFR + 5.75%, 10.166%, 12/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;153 |
| Ascend Learning, FRN, 1M TSFR + 3.00%, 7.316%, 12/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;179 |
| Athenahealth Group, FRN, 1M TSFR + 2.75%, 7.066%, 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;276 |
| Avalara, FRN, 3M TSFR + 3.25%, 7.546%, 3/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;458 |
| Cloud Software Group, FRN, 3M TSFR + 3.25%, 7.483%, 3/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;169 |
| Cloud Software Group, FRN, 3M TSFR + 3.25%, 7.483%, 8/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;421 |
| Delta TopCo, FRN, 3M TSFR + 5.25%, 9.421%, 11/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;439 |
| Ellucian Holdings, FRN, 1M TSFR + 2.75%, 7.066%, 10/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;235 |
| Ellucian Holdings, FRN, 1M TSFR + 4.75%, 9.066%, 11/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;&nbsp;458 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Epicor Software, FRN, 1M TSFR + 2.50%, 6.816%, 5/30/31 | 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 |
| Icon Parent, FRN, 6M TSFR + 5.00%, 9.205%, 11/12/32 | 274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 |
| Instructure Holdings, FRN, 1M TSFR + 2.75%, 7.09%, 11/13/31 | 269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 |
| Kaseya, FRN, 1M TSFR + 3.25%, 7.566%, 3/20/32 | 264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 |
| Kaseya, FRN, 1M TSFR + 5.00%, 9.316%, 3/20/33 | 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 |
| McAfee, FRN, 1M TSFR + 3.00%, 7.223%, 3/1/29 | 253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 |
| Neptune Bidco US, FRN, 3M TSFR + 5.00%, 9.429%, 4/11/29 (6) | 338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
| Neptune Bidco US, FRN, 3M TSFR + 9.75%, 14.179%, 10/11/29 | 167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 |
| Project Alpha Intermediate Holding, FRN, 3M TSFR + 5.00%, 9.296%, 5/9/33 | 905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901 |
| QualityTech, FRN, 1M TSFR + 3.50%, 7.723%, 11/4/31 (2) | &nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |
| Sabre GLBL, FRN, 1M TSFR + 6.00%, 10.416%, 11/15/29 | 193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 |
| Sandisk, FRN, 1M TSFR + 3.00%, 7.341%, 2/20/32 | 459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 |
| Twitter, 9.50%, 10/26/29 | 265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 |
| UKG, FRN, 3M TSFR + 2.50%, 6.81%, 2/10/31 | 881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880 |
|  |  | 10001 |
| **Transportation 0.1%** |  |  |
| American Airlines, FRN, 3M TSFR + 2.25%, 6.575%, 4/20/28 | 421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419 |
| Total Industrial |  | 25679 |
| **SOFTWARE 0.0%** |  |  |
| **Technology 0.0%** |  |  |
| Disco Parent, FRN, 3M TSFR + 3.25%, 7.484%, 8/1/32 (2) | 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
| Total Software |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
| **UTILITY 0.3%** |  |  |
| **Electric 0.3%** |  |  |
| Alpha Generation, FRN, 1M TSFR + 2.00%, 6.316%, 9/30/31 | 144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 |
| Cogentrix Finance Holdco I, FRN, 3M TSFR + 2.25%, 6.565%, 2/26/32 | 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 |
| Cornerstone Generation, FRN, 3M TSFR + 3.25%, 7.476%, 8/11/32 (6) | 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 |
| Edgewater Generation, FRN, 1M TSFR + 3.00%, 7.316%, 8/1/30 | 339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 |
| Talen Energy Supply, FRN, 3M TSFR + 2.50%, 6.733%, 5/17/30 | 434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 |
| Talen Energy Supply, FRN, 3M TSFR + 2.50%, 6.733%, 12/13/31 | 194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 |
|  |  | &nbsp;&nbsp;&nbsp;1584 |
| Total Utility |  | &nbsp;&nbsp;&nbsp;1584 |
| **Total Bank Loans<br> (Cost $35,002)** |  | **35051** |
| **BOND FUNDS 1.0%** | **BOND FUNDS 1.0%** | **BOND FUNDS 1.0%** |
| **Mutual Funds 1.0%** |  |  |
| T. Rowe Price Institutional Floating Rate Fund - Z Class, 7.53% (7)(8) | 608 | &nbsp;&nbsp;&nbsp;5724 |
| **Total Bond Funds<br> (Cost $5,746)** |  | &nbsp;&nbsp;&nbsp;**5724** |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **CONVERTIBLE BONDS 0.0%** | **CONVERTIBLE BONDS 0.0%** | **CONVERTIBLE BONDS 0.0%** |
| **INDUSTRIAL 0.0%** |  |  |
| **Communications 0.0%** |  |  |
| Cable One Zero Coupon, 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;189 |
| **Consumer Cyclical 0.0%** |  |  |
| Rivian Automotive, 4.625%, 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| Total Industrial |  | &nbsp;&nbsp;&nbsp;&nbsp;234 |
| **Total Convertible Bonds<br> (Cost $231)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**234** |
| **CONVERTIBLE PREFERRED STOCKS 0.1%** | **CONVERTIBLE PREFERRED STOCKS 0.1%** | **CONVERTIBLE PREFERRED STOCKS 0.1%** |
| **INDUSTRIAL 0.0%** |  |  |
| **Capital Goods 0.0** |  |  |
| Boeing, 6.00%, 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;165 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;165 |
| Total Industrial |  | &nbsp;&nbsp;&nbsp;&nbsp;165 |
| **MISCELLANEOUS 0.1%** |  |  |
| **Miscellaneous 0.1** |  |  |
| Acrisure, Series A-2 Acquisition Date: 5/20/25, Cost $400 (2)(3)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;400 |
| Total Miscellaneous |  | &nbsp;&nbsp;&nbsp;&nbsp;400 |
| **Total Convertible Preferred Stocks<br> (Cost $524)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**565** |
| **CORPORATE BONDS 18.5%** | **CORPORATE BONDS 18.5%** | **CORPORATE BONDS 18.5%** |
| **FINANCIAL INSTITUTIONS 5.8%** |  |  |
| **Banking 2.6%** |  |  |
| Ally Financial, VR, 6.848%, 1/3/30 (10) | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;567 |
| American Express, VR, 4.918%, 7/20/33 (10) | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;248 |
| Bank of America, VR, 1.898%, 7/23/31 (10) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;133 |
| Bank of America, VR, 5.162%, 1/24/31 (10) | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;819 |
| Bank of America, VR, 5.468%, 1/23/35 (10) | &nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp;493 |
| Bank of America, VR, 5.518%, 10/25/35 (10) | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;442 |
| Barclays, VR, 5.367%, 2/25/31 (10) | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;542 |
| Barclays, VR, 5.86%, 8/11/46 (10) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;199 |
| CaixaBank, VR, 4.885%, 7/3/31 (1)(10) | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;278 |
| CaixaBank, VR, 5.581%, 7/3/36 (1)(10) | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;463 |
| CaixaBank, VR, 6.037%, 6/15/35 (1)(10) | 1000 | 1052 |
| Capital One Financial, VR, 4.927%, 5/10/28 (10) | 1345 | 1358 |
| Citigroup, VR, 4.952%, 5/7/31 (10) | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;839 |
| Citigroup, VR, 6.02%, 1/24/36 (10) | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;283 |
| Credit Suisse Group, VR, 3.091%, 5/14/32 (1)(10) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;921 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| HSBC Holdings, VR, 5.13%, 3/3/31 (10) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409 |
| Morgan Stanley, VR, 5.32%, 7/19/35 (10) | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 |
| PNC Financial Services Group, VR, 5.373%, 7/21/36 (10) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 |
| Societe Generale, VR, 2.797%, 1/19/28 (1)(10) | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 |
| Societe Generale, VR, 5.50%, 4/13/29 (1)(10) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817 |
| Societe Generale, VR, 6.691%, 1/10/34 (1)(10) | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622 |
| Societe Generale, 7.367%, 1/10/53 (1) | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 |
| US Bancorp, VR, 4.967%, 7/22/33 (10) | &nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 |
| Wells Fargo, VR, 2.572%, 2/11/31 (10) | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 |
| Wells Fargo, VR, 5.013%, 4/4/51 (10) | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 |
| Wells Fargo, VR, 5.15%, 4/23/31 (10) | 1390 | &nbsp;&nbsp;&nbsp;1429 |
| Wells Fargo, VR, 6.491%, 10/23/34 (10) | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 |
|  |  | 14602 |
| **Brokerage Asset Managers Exchanges 0.4%** |  |  |
| Hightower Holding, 9.125%, 1/31/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 |
| Jane Street Group, 7.125%, 4/30/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 |
| Jane Street Group / JSG Finance, 6.125%, 11/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 |
| Jane Street Group / JSG Finance, 6.75%, 5/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 |
| LPL Holdings, 5.15%, 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541 |
| LPL Holdings, 5.65%, 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 |
| LPL Holdings, 5.75%, 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 |
| Osaic Holdings, 6.75%, 8/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 |
| Osaic Holdings, 8.00%, 8/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 |
|  |  | &nbsp;&nbsp;&nbsp;2559 |
| **Finance Companies 0.5%** |  |  |
| Ares Strategic Income Fund, 5.45%, 9/9/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151 |
| Golub Capital Private Credit Fund, 5.875%, 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| Midcap Financial Issuer Trust, 6.50%, 5/1/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 |
| Navient, 7.875%, 6/15/32 (11) | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 |
| Navient, 9.375%, 7/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 |
| Navient, 11.50%, 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368 |
| OneMain Finance, 7.50%, 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| SLM, 5.625%, 8/1/33 (11) | &nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 |
|  |  | &nbsp;&nbsp;&nbsp;2737 |
| **Financial Other 0.4%** |  |  |
| Aldar Properties PJSC, VR, 6.623%, 4/15/55 (10) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 |
| Blackstone Property Partners Europe Holdings, 1.75%, 3/12/29 (EUR) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602 |
| HA Sustainable Infrastructure Capital, 6.375%, 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 |
| HAT Holdings I / HAT Holdings II, 3.75%, 9/15/30 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369 |
| HAT Holdings I / HAT Holdings II, 8.00%, 6/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 |
| Howard Hughes, 5.375%, 8/1/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189 |
|  |  | &nbsp;&nbsp;&nbsp;2165 |
| **Insurance 1.5%** |  |  |
| Acrisure / Acrisure Finance, 7.50%, 11/6/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Acrisure / Acrisure Finance, 8.50%, 6/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 |
| Alliant Holdings Intermediate / Alliant Holdings Co-Issuer, 7.00%, 1/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 |
| Alliant Holdings Intermediate / Alliant Holdings Co-Issuer, 7.375%, 10/1/32 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 |
| Aspen Insurance Holdings, 5.75%, 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 |
| Centene, 4.625%, 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
| Five Corners Funding Trust II, 2.85%, 5/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 |
| Fortitude Group Holdings, 6.25%, 4/1/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 |
| GA Global Funding Trust, 5.50%, 4/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 |
| Health Care Service, 5.875%, 6/15/54 (1) | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536 |
| HUB International, 7.25%, 6/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 |
| HUB International, 7.375%, 1/31/32 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 |
| Jones DesLauriers Insurance Management, 8.50%, 3/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 |
| Jones DesLauriers Insurance Management, 10.50%, 12/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 |
| Molina Healthcare, 3.875%, 5/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 |
| Molina Healthcare, 6.25%, 1/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 |
| Panther Escrow Issuer, 7.125%, 6/1/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 |
| Reinsurance Group of America, 6.00%, 9/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 |
| Reinsurance Group of America, VR, 6.65%, 9/15/55 (10) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
| Swiss RE Subordinated Finance, VR, 6.191%, 4/1/46 (1)(10) | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 |
| UnitedHealth Group, 5.30%, 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 |
| UnitedHealth Group, 5.95%, 6/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| USI, 7.50%, 1/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 |
|  |  | &nbsp;&nbsp;&nbsp;8556 |
| **Real Estate Investment Trusts 0.4%** |  |  |
| Alexandria Real Estate Equities, 5.25%, 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 |
| Brixmor Operating Partnership, 5.20%, 4/1/32 (11) | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 |
| Kite Realty Group, 4.95%, 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 |
| MPT Operating Partnership / MPT Finance, 0.993%, 10/15/26 (EUR) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 |
| MPT Operating Partnership / MPT Finance, 8.50%, 2/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 |
| Realty Income, 5.125%, 4/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 |
| Service Properties Trust, 8.625%, 11/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 |
| Service Properties Trust, 8.875%, 6/15/32 (11) | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 |
|  |  | &nbsp;&nbsp;&nbsp;2057 |
| Total Financial Institutions |  | 32676 |
| **INDUSTRIAL 11.0%** |  |  |
| **Basic Industry 0.5%** |  |  |
| Arsenal AIC Parent, 11.50%, 10/1/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 |
| Carpenter Technology, 7.625%, 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 |
| Celanese US Holdings, 6.879%, 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 |
| IMCD, 3.625%, 4/30/30 (EUR) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 |
| South32 Treasury, 4.35%, 4/14/32 (1) | 1221 | &nbsp;&nbsp;&nbsp;1160 |
| Steel Dynamics, 5.25%, 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 |
|  |  | &nbsp;&nbsp;&nbsp;3080 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **Capital Goods 0.8%** |  |  |
| Amcor Flexibles North America, 5.10%, 3/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;210 |
| Axon Enterprise, 6.125%, 3/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;144 |
| Axon Enterprise, 6.25%, 3/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;278 |
| Boeing, 3.75%, 2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| Boeing, 6.858%, 5/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;952 | 1045 |
| Hexcel, 5.875%, 2/26/35 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;219 |
| Holcim Finance US, 4.70%, 4/7/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;208 |
| Holcim Finance US, 4.95%, 4/7/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;244 |
| Quikrete Holdings, 6.375%, 3/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;257 |
| Quikrete Holdings, 6.75%, 3/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;155 |
| Regal Rexnord, 6.05%, 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| Regal Rexnord, 6.30%, 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;614 |
| TransDigm, 6.25%, 1/31/34 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 |
| TransDigm, 6.75%, 1/31/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;160 |
| TransDigm, 6.875%, 12/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;130 |
| TransDigm, 7.125%, 12/1/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;385 |
|  |  | 4257 |
| **Communications 2.0%** |  |  |
| Altice France, 5.50%, 10/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;171 |
| AppLovin, 5.375%, 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;175 |
| Axian Telecom Holding & Management, 7.25%, 7/11/30 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;270 |
| CCO Holdings, 4.25%, 2/1/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;143 |
| CCO Holdings, 4.50%, 6/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;267 |
| CCO Holdings, 7.375%, 3/1/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;352 |
| Cellnex Finance, 2.00%, 9/15/32 (EUR) | 1400 | 1478 |
| Charter Communications Operating, 2.80%, 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;591 |
| Clear Channel Outdoor Holdings, 7.125%, 2/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;106 |
| Clear Channel Outdoor Holdings, 7.50%, 6/1/29 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;153 |
| Clear Channel Outdoor Holdings, 7.50%, 3/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 |
| Clear Channel Outdoor Holdings, 7.75%, 4/15/28 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;155 |
| CMG Media, 8.875%, 6/18/29 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;311 |
| Comcast, 2.887%, 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;454 |
| Connect Finco / Connect US Finco, 9.00%, 9/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;208 |
| CSC Holdings, 5.50%, 4/15/27 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;193 |
| CSC Holdings, 11.25%, 5/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;200 |
| CSC Holdings, 11.75%, 1/31/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;183 |
| Directv Financing, 8.875%, 2/1/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;134 |
| DirecTV Financing, 10.00%, 2/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;169 |
| DISH DBS, 5.25%, 12/1/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;310 |
| DISH DBS, 5.75%, 12/1/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;240 |
| DISH DBS, 7.375%, 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 |
| DISH Network, 11.75%, 11/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 |
| EchoStar, 10.75%, 11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;667 |
| EW Scripps, 9.875%, 8/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;263 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Gray Media, 9.625%, 7/15/32 (1) | 270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 |
| Level 3 Financing, 4.50%, 4/1/30 (1) | 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 |
| Level 3 Financing, 6.875%, 6/30/33 (1) | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
| Level 3 Financing, 7.00%, 3/31/34 (1) | 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 |
| Level 3 Financing, 10.75%, 12/15/30 (1) | &nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| Midas Opco Holdings, 5.625%, 8/15/29 (1) | 175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 |
| NTT Finance, 5.171%, 7/16/32 (1) | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 |
| NTT Finance, 5.502%, 7/16/35 (1) | 310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 |
| SBA Tower Trust, 4.831%, 10/15/29 (1) | 505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506 |
| Scripps Escrow II, 3.875%, 1/15/29 (1)(11) | 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 |
| Sirius XM Radio, 4.00%, 7/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Time Warner Cable, 6.55%, 5/1/37 | 740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 |
| Univision Communications, 8.50%, 7/31/31 (1) | 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 |
| Univision Communications, 9.375%, 8/1/32 (1) | 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 |
| VEON Holdings, 3.375%, 11/25/27 | 610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568 |
| Viasat, 7.50%, 5/30/31 (1)(11) | 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 |
|  |  | 11432 |
| **Consumer Cyclical 1.3%** |  |  |
| Advance Auto Parts, 7.00%, 8/1/30 (1) | 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| Advance Auto Parts, 7.375%, 8/1/33 (1) | 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| Allied Universal Holdco, 7.875%, 2/15/31 (1) | 262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 |
| Bath & Body Works, 6.75%, 7/1/36 | 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 |
| Caesars Entertainment, 7.00%, 2/15/30 (1) | 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 |
| Carvana, 9.00%, 6/1/31, (14.00% PIK until 8/15/25 then 9.00% Cash to maturity) (1)(12) | 229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 |
| CBRE Services, 4.80%, 6/15/30 | 265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 |
| Clarios Global / Clarios US Finance, 6.75%, 2/15/30 (1) | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 |
| eG Global Finance, 12.00%, 11/30/28 (1) | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 |
| Flutter Treasury DAC, 5.875%, 6/4/31 (1) | 245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
| Ford Motor Credit, 5.918%, 3/20/28 | 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 |
| GLP Capital / GLP Financing II, 5.25%, 2/15/33 | 550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 |
| Hyundai Capital America, 5.40%, 1/8/31 (1) | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 |
| L Brands, 6.625%, 10/1/30 (1) | 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 |
| Lowe's Cos, 4.25%, 4/1/52 | 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
| Lowe's Cos, 5.625%, 4/15/53 | &nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 |
| Magna International, 5.875%, 6/1/35 | &nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 |
| Match Group Holdings II, 6.125%, 9/15/33 (1) | 344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347 |
| NFL, 4.78%, 10/5/30 (2)(3) | 335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 |
| Nissan Motor, 7.50%, 7/17/30 (1) | 215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 |
| Ontario Gaming GTA, 8.00%, 8/1/30 (1) | 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 |
| PetSmart / PetSmart Finance, 7.50%, 9/15/32 (1) | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 |
| Rentokil Terminix Funding, 5.00%, 4/28/30 (1) | 850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863 |
| Rivian Holdings / Rivian / Rivian Automotive, 10.00%, 1/15/31 (1) | 580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 |
| Volkswagen Group of America Finance, 5.35%, 3/27/30 (1) | 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 |
| Voyager Parent, 9.25%, 7/1/32 (1) | 225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 |
| Wand NewCo 3, 7.625%, 1/30/32 (1) | 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Yum! Brands, 5.375%, 4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
|  |  | &nbsp;&nbsp;&nbsp;7290 |
| **Consumer Non-Cyclical 2.7%** |  |  |
| 1261229 BC, 10.00%, 4/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 |
| Anheuser-Busch InBev Worldwide, 5.55%, 1/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
| BAT Capital, 5.35%, 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328 |
| Bayer US Finance, 6.25%, 1/21/29 (1)(11) | 2395 | &nbsp;&nbsp;&nbsp;2516 |
| Bayer US Finance II, 4.70%, 7/15/64 (1) | &nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 |
| Bimbo Bakeries USA, 6.05%, 1/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 |
| Bon Secours Mercy Health, 3.464%, 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 |
| CHS / Community Health Systems, 10.875%, 1/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401 |
| CommonSpirit Health, 2.782%, 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| Conagra Brands, 5.75%, 8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 |
| Constellation Brands, 4.80%, 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 |
| CVS Health, 5.625%, 2/21/53 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577 |
| CVS Health, VR, 6.75%, 12/10/54 (10) | &nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 |
| CVS Health, VR, 7.00%, 3/10/55 (10) | &nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291 |
| Health & Happiness H&H International Holdings, 9.125%, 7/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 |
| Icon Investments Six DAC, 5.849%, 5/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834 |
| Icon Investments Six DAC, 6.00%, 5/8/34 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832 |
| Imperial Brands Finance, 5.625%, 7/1/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 |
| Imperial Brands Finance, 6.375%, 7/1/55 (1) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 |
| IQVIA, 6.25%, 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 |
| LifePoint Health, 10.00%, 6/1/32 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 |
| LifePoint Health, 11.00%, 10/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 |
| Mars, 5.20%, 3/1/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423 |
| Mars, 5.65%, 5/1/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 |
| Medline Borrower, 6.25%, 4/1/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 |
| Newell Brands, 8.50%, 6/1/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 |
| Opal Bidco, 6.50%, 3/31/32 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 |
| Paradigm Parent & Paradigm Parent Co-Issuer, 8.75%, 4/17/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 |
| Solventum, 5.45%, 3/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 |
| Solventum, 5.60%, 3/23/34 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 |
| Solventum, 5.90%, 4/30/54 (11) | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 |
| Star Parent, 9.00%, 10/1/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 |
| Sutter Health, Series 2025, 5.213%, 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 |
| Sutter Health, Series 2025, 5.537%, 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 |
| Tenet Healthcare, 6.875%, 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 |
| Wolfspeed, 12.875%, 6/23/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 |
|  |  | 14995 |
| **Energy 2.4%** |  |  |
| Civitas Resources, 8.375%, 7/1/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 |
| Civitas Resources, 9.625%, 6/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 |
| Comstock Resources, 6.75%, 3/1/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 |
| ConocoPhillips, 5.50%, 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| ConocoPhillips, 5.55%, 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 |
| Continental Resources, 4.90%, 6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Coterra Energy, 5.40%, 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 |
| Crescent Energy Finance, 7.375%, 1/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 |
| Crescent Energy Finance, 7.625%, 4/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 |
| Diamondback Energy, 5.40%, 4/18/34 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 |
| Diamondback Energy, 5.75%, 4/18/54 | &nbsp;&nbsp;&nbsp;&nbsp;519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 |
| Expand Energy, 4.75%, 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 |
| FS Luxembourg, 8.875%, 2/12/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419 |
| Harbour Energy, 6.327%, 4/1/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 |
| Hilcorp Energy, 8.375%, 11/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 |
| Hilcorp Energy I / Hilcorp Finance, 7.25%, 2/15/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 |
| Matador Resources, 6.25%, 4/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
| MPLX, 5.00%, 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
| MPLX, 6.20%, 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 |
| National Fuel Gas, 5.50%, 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 |
| NGL Energy Operating / NGL Energy Finance, 8.375%, 2/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 |
| Occidental Petroleum, 6.05%, 10/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846 |
| Occidental Petroleum, 6.20%, 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 |
| Occidental Petroleum, 8.875%, 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 |
| Permian Resources Operating, 6.25%, 2/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 |
| Permian Resources Operating, 9.875%, 7/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 |
| Prairie Acquiror, 3M TSFR + 4.75%, 9.00%, 8/1/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 |
| Raizen Fuels Finance, 6.45%, 3/5/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 |
| Range Resources, 4.75%, 2/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 |
| South Bow USA Infrastructure Holdings, 5.026%, 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 |
| Sunoco, 7.25%, 5/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 |
| Tallgrass Energy Partners, 7.375%, 2/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 |
| Targa Resources, 5.55%, 8/15/35 | 1220 | &nbsp;&nbsp;&nbsp;1230 |
| Targa Resources Partners, 5.50%, 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Transocean, 8.25%, 5/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| Transocean, 8.75%, 2/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 |
| Transocean Aquila, 8.00%, 9/30/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 |
| Venture Global LNG, VR, 9.00% (1)(10)(13) | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 |
| Venture Global LNG, 9.50%, 2/1/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 |
| Venture Global LNG, 9.875%, 2/1/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Venture Global Plaquemines LNG, 6.50%, 1/15/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 |
| Venture Global Plaquemines LNG, 6.75%, 1/15/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 |
| Venture Global Plaquemines LNG, 7.50%, 5/1/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 |
| Venture Global Plaquemines LNG, 7.75%, 5/1/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 |
| Vital Energy, 9.75%, 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 |
|  |  | 13420 |
| **Industrial Other 0.1%** |  |  |
| Albion Financing 1 / Aggreko Holdings, 7.00%, 5/21/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
| Booz Allen Hamilton, 5.95%, 4/15/35 (11) | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **Technology 0.9%** |  |  |
| Broadcom, 4.55%, 2/15/32 | 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 |
| Cloud Software Group, 8.25%, 6/30/32 (1) | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 |
| Cloud Software Group, 9.00%, 9/30/29 (1) | 630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 |
| Dye & Durham, 8.625%, 4/15/29 (1) | &nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| JSC Kaspi.kz, 6.25%, 3/26/30 (1) | 805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 |
| Marvell Technology, 5.45%, 7/15/35 | 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 |
| McAfee, 7.375%, 2/15/30 (1)(11) | 285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 |
| Minerva Merger, 6.50%, 2/15/30 (1)(11) | 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 |
| Motorola Solutions, 5.40%, 4/15/34 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 |
| Neptune Bidco, 9.29%, 4/15/29 (1) | 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 |
| Paychex, 5.60%, 4/15/35 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
| Sabre GLBL, 10.75%, 11/15/29 (1)(11) | &nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 |
| Sabre GLBL, 11.125%, 7/15/30 (1) | 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 |
| Synopsys, 5.70%, 4/1/55 | 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 |
| UKG, 6.875%, 2/1/31 (1) | 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 |
|  |  | &nbsp;&nbsp;&nbsp;4939 |
| **Transportation 0.3%** |  |  |
| Autostrade per l'Italia, 2.00%, 1/15/30 (EUR) | 675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 |
| Avis Budget Car Rental / Avis Budget Finance, 8.25%, 1/15/30 (1)(11) | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 |
| Heathrow Funding, 1.875%, 3/14/36 (EUR) | 459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 |
| Heathrow Funding, 3.875%, 1/16/38 (EUR) | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 |
|  |  | &nbsp;&nbsp;&nbsp;1486 |
| Total Industrial |  | 61543 |
| **UTILITY 1.7%** |  |  |
| **Electric 1.4%** |  |  |
| AES, 5.80%, 3/15/32 | 680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 |
| AES Andes, 6.25%, 3/14/32 (1)(11) | 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 |
| Alpha Generation, 6.75%, 10/15/32 (1) | 285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293 |
| Chile Electricity Lux Mpc II, 5.58%, 10/20/35 (1) | 196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 |
| CHPE, 5.65%, 9/30/35 (3) | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 |
| FirstEnergy, 2.25%, 9/1/30 | &nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 |
| FirstEnergy, 2.65%, 3/1/30 | 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 |
| FirstEnergy Transmission, 5.00%, 1/15/35 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 |
| Kentucky Utilities, 5.85%, 8/15/55 | &nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 |
| Louisville Gas & Electric, 5.85%, 8/15/55 | &nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 |
| Niagara Mohawk Power, 4.647%, 10/3/30 (1) | 355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 |
| Niagara Mohawk Power, 5.996%, 7/3/55 (1) | 725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724 |
| Pacific Gas and Electric, 3.50%, 8/1/50 | 213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 |
| Pacific Gas and Electric, 4.95%, 7/1/50 | 205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 |
| Pacific Gas and Electric, 5.90%, 10/1/54 | 134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 |
| PG&E, VR, 7.375%, 3/15/55 (10) | 194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 |
| PSEG Power, 5.20%, 5/15/30 (1) | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| Public Service Co of Oklahoma, 5.45%, 1/15/36 | 695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703 |
| Talen Energy Supply, 8.625%, 6/1/30 (1) | 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Vistra, VR, 8.00% (1)(10)(13) | &nbsp;&nbsp;&nbsp;&nbsp;419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 |
| Vistra, VR, 8.875% (1)(10)(13) | 1520 | &nbsp;&nbsp;&nbsp;&nbsp;1653 |
| Vistra Operations, 5.70%, 12/30/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Vistra Operations, 6.95%, 10/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8116 |
| **Natural Gas 0.3%** |  |  |
| APA Infrastructure, 5.125%, 9/16/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 |
| APA Infrastructure, 5.75%, 9/16/44 (1)(11) | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 |
| Engie, 5.625%, 4/10/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 |
| Southern California Gas, 5.45%, 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1435 |
| Total Utility |  | &nbsp;&nbsp;&nbsp;&nbsp;9551 |
| **Total Corporate Bonds<br> (Cost $101,557)** |  | **103770** |
| **FOREIGN GOVERNMENT OBLIGATIONS & MUNICIPALITIES 2.0%** | **FOREIGN GOVERNMENT OBLIGATIONS & MUNICIPALITIES 2.0%** | **FOREIGN GOVERNMENT OBLIGATIONS & MUNICIPALITIES 2.0%** |
| **Owned No Guarantee 0.4%** |  |  |
| Petroleos Mexicanos, 8.75%, 6/2/29 | 1090 | &nbsp;&nbsp;&nbsp;&nbsp;1154 |
| Petroleos Mexicanos, 10.00%, 2/7/33 (11) | 1220 | &nbsp;&nbsp;&nbsp;&nbsp;1366 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2520 |
| **Sovereign 1.6%** |  |  |
| Barbados Government International Bonds, 8.00%, 6/26/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |
| Brazilian Government International Bonds, 5.50%, 11/6/30 | 1400 | &nbsp;&nbsp;&nbsp;&nbsp;1428 |
| Bulgaria Government International Bonds, 4.125%, 5/7/38 (EUR) | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 |
| Eagle Funding Luxco, 5.50%, 8/17/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 |
| Guatemala Government Bonds, 6.25%, 8/15/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 |
| Guatemala Government Bonds, 6.875%, 8/15/55 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |
| Ivory Coast Government International Bonds, 8.075%, 4/1/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 |
| Montenegro Government International Bonds, 7.25%, 3/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506 |
| Montenegro Government International Bonds, 7.25%, 3/12/31 (1) | 1345 | &nbsp;&nbsp;&nbsp;&nbsp;1417 |
| Romanian Government International Bonds, 5.75%, 9/16/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998 |
| Romanian Government International Bonds, 6.625%, 5/16/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8737 |
| **Total Foreign Government Obligations & Municipalities<br> (Cost $10,947)** |  | &nbsp;&nbsp;&nbsp;**11257** |
| **MUNICIPAL SECURITIES 0.4%** | **MUNICIPAL SECURITIES 0.4%** | **MUNICIPAL SECURITIES 0.4%** |
| **New York 0.1%** |  |  |
| Metropolitan Transportation Authority, 6.548%, 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 |
| **Puerto Rico 0.3%** |  |  |
| Puerto Rico Commonwealth, Series A1, GO, 5.625%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Puerto Rico Commonwealth, Series A1, GO, 5.625%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Puerto Rico Commonwealth, Series A1, GO, 4.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Puerto Rico Commonwealth, Series A1, GO, 4.00%, 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Puerto Rico Commonwealth, Series A1, GO, 4.00%, 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Puerto Rico Commonwealth, Series A1, GO, 4.00%, 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Puerto Rico Commonwealth, Series A, GO, Zero Coupon, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Puerto Rico Commonwealth, Series CW, GO, Zero Coupon, 11/1/43 (14) | 2592 | 1626 |
|  |  | 1648 |
| **Texas 0.0%** |  |  |
| Port Beaumont Navigation District, Series B, 10.00%, 7/1/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;136 |
| **Total Municipal Securities<br> (Cost $2,059)** |  | **2059** |
| **NON-U.S. GOVERNMENT MORTGAGE-BACKED SECURITIES 7.7%** | **NON-U.S. GOVERNMENT MORTGAGE-BACKED SECURITIES 7.7%** | **NON-U.S. GOVERNMENT MORTGAGE-BACKED SECURITIES 7.7%** |
| **Collateralized Mortgage Obligations 5.0%** |  |  |
| Angel Oak Mortgage Trust, Series 2021-1, Class A3, CMO, ARM, 1.217%, 1/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;106 |
| Angel Oak Mortgage Trust, Series 2022-2, Class A1, CMO, ARM, 3.353%, 1/25/67 (1) | &nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;203 |
| Angel Oak Mortgage Trust, Series 2022-6, Class A1, CMO, ARM, 4.30%, 7/25/67 (1) | &nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;242 |
| Angel Oak Mortgage Trust, Series 2023-6, Class A2, CMO, ARM, 6.50%, 12/25/67 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 |
| Angel Oak Mortgage Trust, Series 2025-3, Class A1, CMO, ARM, 5.42%, 3/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;&nbsp;651 |
| Bayview Opportunity Master Funding, Series 2020-1, Class A3, CMO, ARM, 3.285%, 5/28/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 |
| Chase Home Lending Mortgage Trust, Series 2024-RPL4, Class A1B, CMO, ARM, 3.375%, 12/25/64 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP2, Class A3, CMO, ARM, 2.50%, 8/25/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 |
| COLT Mortgage Loan Trust, Series 2025-8, Class A1, CMO, ARM, 5.48%, 8/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;620 |
| COLT Mortgage Loan Trust, Series 2025-INV2, Class A3, CMO, ARM, 5.954%, 2/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp;543 |
| Connecticut Avenue Securities Trust, Series 2022-R07, Class 1M1, CMO, ARM, FRN, SOFR30A + 2.95%, 7.30%, 6/25/42 (1) | &nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp;407 |
| Connecticut Avenue Securities Trust, Series 2023-R07, Class 2M1, CMO, ARM, FRN, SOFR30A + 1.95%, 6.30%, 9/25/43 (1) | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;241 |
| Connecticut Avenue Securities Trust, Series 2025-R01, Class 1M1, CMO, ARM, FRN, SOFR30A + 1.10%, 5.45%, 1/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;829 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, CMO, ARM, FRN, SOFR30A + 1.00%, 5.35%, 2/25/45 (1) | 1332 | 1333 |
| Connecticut Avenue Securities Trust, Series 2025-R05, Class 2M1, CMO, ARM, FRN, SOFR30A + 1.20%, 5.548%, 7/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;363 |
| Cross Mortgage Trust, Series 2024-H6, Class A1, CMO, ARM, 5.129%, 9/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;215 |
| Cross Mortgage Trust, Series 2025-H4, Class A1, CMO, ARM, 5.596%, 6/25/70 (1) | 2261 | 2282 |
| Cross Mortgage Trust, Series 2025-H5, Class A1B, CMO, ARM, 5.509%, 7/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;370 |
| Deephaven Residential Mortgage Trust, Series 2021-2, Class A3, CMO, ARM, 1.26%, 4/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| EFMT, Series 2024-INV2, Class A1, CMO, ARM, 5.035%, 10/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;878 | &nbsp;&nbsp;&nbsp;&nbsp;875 |
| EFMT, Series 2024-INV2, Class A2, CMO, ARM, 5.289%, 10/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 |
| EFMT, Series 2025-INV1, Class A1, CMO, ARM, 5.626%, 3/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;155 |
| EFMT, Series 2025-INV2, Class A1, CMO, ARM, 5.387%, 5/26/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;276 |
| EFMT, Series 2025-NQM3, Class A1, CMO, ARM, 5.494%, 8/25/70 (1) | 1376 | 1384 |
| Ellington Financial Mortgage Trust, Series 2021-3, Class M1, CMO, ARM, 2.53%, 9/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;139 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Freddie Mac STACR REMIC Trust, Series 2025-HQA1, Class A1, CMO, ARM, FRN, SOFR30A + 0.95%, 5.298%, 2/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp;159 |
| Freddie Mac STACR REMIC Trust, Series 2025-HQA1, Class M1, CMO, ARM, FRN, SOFR30A + 1.15%, 5.498%, 2/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;687 | &nbsp;&nbsp;&nbsp;&nbsp;688 |
| GCAT Trust, Series 2025-NQM1, Class A1, CMO, ARM, 5.373%, 11/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;&nbsp;449 |
| GCAT Trust, Series 2025-NQM4, Class A1, CMO, ARM, 5.529%, 6/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;835 |
| GS Mortgage-Backed Securities Trust, Series 2021-GR2, Class A4, CMO, ARM, 2.50%, 2/25/52 (1) | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| HOMES Trust, Series 2024-AFC1, Class A1, CMO, ARM, 5.224%, 8/25/59 (1) | &nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;267 |
| HOMES Trust, Series 2025-NQM2, Class A1, CMO, ARM, 5.425%, 2/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;362 |
| JP Morgan Mortgage Trust, Series 2016-3, Class B3, CMO, ARM, 3.304%, 10/25/46 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 |
| JP Morgan Mortgage Trust, Series 2017-2, Class B5, CMO, ARM, 3.644%, 5/25/47 (1) | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;292 |
| JP Morgan Mortgage Trust, Series 2017-5, Class B2, CMO, ARM, 4.97%, 10/26/48 (1) | &nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp;170 |
| JP Morgan Mortgage Trust, Series 2020-5, Class B2, CMO, ARM, 3.574%, 12/25/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;154 |
| JP Morgan Mortgage Trust, Series 2020-LTV1, Class B1A, CMO, ARM, 3.237%, 6/25/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp;152 |
| JP Morgan Mortgage Trust, Series 2023-DSC2, Class A1, CMO, ARM, 5.25%, 11/25/63 (1) | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;170 |
| JP Morgan Mortgage Trust, Series 2025-NQM3, Class A1, CMO, ARM, 5.495%, 11/25/65 (1) | 1344 | 1354 |
| MFA Trust, Series 2022-INV2, Class A1, CMO, ARM, 4.95%, 7/25/57 (1) | &nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;313 |
| MFA Trust, Series 2023-INV2, Class A2, CMO, ARM, 7.177%, 10/25/58 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-DSC2, Class A1, CMO, ARM, 5.443%, 7/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;115 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM5, Class A1, CMO, ARM, 5.439%, 7/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;328 |
| NYMT Loan Trust, Series 2025-INV1, Class A1, CMO, ARM, 5.402%, 4/25/60 (1) | &nbsp;&nbsp;&nbsp;&nbsp;723 | &nbsp;&nbsp;&nbsp;&nbsp;726 |
| OBX Trust, Series 2024-HYB1, Class A1, CMO, ARM, 3.63%, 3/25/53 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 |
| OBX Trust, Series 2025-NQM14, Class A1B, CMO, ARM, 5.162%, 7/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;861 |
| OBX Trust, Series 2025-NQM6, Class A1, CMO, ARM, 5.603%, 3/25/65 (1) | 1306 | 1319 |
| OBX Trust, Series 2025-NQM8, Class A1, CMO, ARM, 5.472%, 3/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;938 |
| RCKT Mortgage Trust, Series 2024-CES8, Class A1A, CMO, ARM, 5.49%, 11/25/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;184 |
| RCKT Mortgage Trust, Series 2025-CES3, Class A1A, CMO, ARM, 5.553%, 3/25/55 (1) | 1290 | 1303 |
| Santander Mortgage Asset Receivable Trust, Series 2025-NQM2, Class A1, CMO, ARM, 5.732%, 2/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;578 | &nbsp;&nbsp;&nbsp;&nbsp;583 |
| Sequoia Mortgage Trust, Series 2019-5, Class B3, CMO, ARM, 3.701%, 12/25/49 (1) | &nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp;373 |
| Sequoia Mortgage Trust, Series 2024-HYB1, Class A1A, CMO, ARM, 4.397%, 11/25/63 (1) | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;236 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1B, CMO, ARM, 5.042%, 7/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| Towd Point Mortgage Trust, Series 2024-5, Class A1B, CMO, ARM, 4.55%, 10/25/64 (1) | 1272 | 1264 |
| Towd Point Mortgage Trust, Series 2025-1, Class A1A, CMO, ARM, 4.76%, 6/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;541 | &nbsp;&nbsp;&nbsp;&nbsp;545 |
| Towd Point Mortgage Trust, Series 2025-1, Class A1B, CMO, ARM, 4.76%, 6/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;274 |
| Verus Securitization Trust, Series 2021-1, Class A3, CMO, ARM, 1.155%, 1/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 |
| Verus Securitization Trust, Series 2021-R3, Class A1, CMO, ARM, 1.02%, 4/25/64 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| Verus Securitization Trust, Series 2022-4, Class A1, CMO, ARM, 4.474%, 4/25/67 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Verus Securitization Trust, Series 2023-1, Class A1, CMO, ARM, 5.85%, 12/25/67 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| Verus Securitization Trust, Series 2025-2, Class A1, CMO, ARM, 5.307%, 3/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631 |
| Verus Securitization Trust, Series 2025-INV1, Class A3, CMO, ARM, 5.953%, 2/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 |
| Vista Point Securitization Trust, Series 2020-2, Class A1, CMO, ARM, 1.475%, 4/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
|  |  | 27792 |
| **Commercial Mortgage-Backed Securities 2.7%** |  |  |
| Alen Mortgage Trust, Series 2021-ACEN, Class A, FRN, 1M TSFR + 1.26%, 5.628%, 4/15/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
| Bank, Series 2024-BNK47, Class A5, ARM, 5.716%, 6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 |
| Bank5, Series 2024-5YR10, Class AS, ARM, 5.637%, 10/15/57 | 1155 | &nbsp;&nbsp;&nbsp;1186 |
| Bank5, Series 2024-5YR10, Class A3, ARM, 5.302%, 10/15/57 | 1270 | &nbsp;&nbsp;&nbsp;1311 |
| Bank5, Series 2024-5YR12, Class AS, ARM, 6.122%, 12/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 |
| Bank5, Series 2024-5YR8, Class AS, ARM, 6.378%, 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;1015 |
| Benchmark Mortgage Trust, Series 2019-B12, Class A5, ARM, 3.116%, 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 |
| Benchmark Mortgage Trust, Series 2019-B13, Class A4, ARM, 2.952%, 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, ARM, 6.417%, 1/10/57 | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803 |
| Benchmark Mortgage Trust, Series 2024-V7, Class A3, 6.228%, 5/15/56 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364%, 2/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;1012 |
| BSREP Commercial Mortgage Trust, Series 2021-DC, Class C, FRN, 1M TSFR + 1.66%, 6.028%, 8/15/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
| BX Commercial Mortgage Trust, Series 2024-GPA3, Class B, ARM, FRN, 1M TSFR + 1.64%, 6.005%, 12/15/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101 |
| BX Commercial Mortgage Trust, Series 2024-MDHS, Class A, FRN, 1M TSFR + 1.64%, 6.004%, 5/15/41 (1) | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
| BX Commercial Mortgage Trust, Series 2024-MDHS, Class B, FRN, 1M TSFR + 1.84%, 6.204%, 5/15/41 (1) | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
| BX Commercial Mortgage Trust, Series 2024-SLCT, Class B, ARM, FRN, 1M TSFR + 1.79%, 6.156%, 1/15/42 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
| BX Commercial Mortgage Trust, Series 2024-SLCT, Class C, ARM, FRN, 1M TSFR + 2.39%, 6.755%, 1/15/42 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 |
| BX Trust, Series 2025-ROIC, Class B, ARM, FRN, 1M TSFR + 1.39%, 5.757%, 3/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833 |
| BX Trust, Series 2025-TAIL, Class A, ARM, FRN, 1M TSFR + 1.40%, 5.763%, 6/15/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 |
| CENT Trust, Series 2025-CITY, Class A, ARM, 5.091%, 7/10/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653 |
| Commercial Mortgage Trust, Series 2016-CR28, Class B, ARM, 4.738%, 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| CONE Trust, Series 2024-DFW1, Class A, ARM, FRN, 1M TSFR + 1.64%, 6.005%, 8/15/41 (1) | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 |
| CSAIL Commercial Mortgage Trust, Series 2016-C6, Class A5, ARM, 3.09%, 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 |
| CSAIL Commercial Mortgage Trust, Series 2019-C18, Class C, ARM, 4.041%, 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 |
| GS Mortgage Securities Trust, Series 2019-GC40, Class B, ARM, 3.543%, 7/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 |
| Hilt Commercial Mortgage Trust, Series 2024-ORL, Class B, FRN, 1M TSFR + 1.94%, 6.304%, 5/15/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class B, ARM, 5.95%, 1/13/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758 |
| HYT Commercial Mortgage Trust, Series 2024-RGCY, Class A, ARM, FRN, 1M TSFR + 1.84%, 6.205%, 9/15/41 (1) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| ILPT Commercial Mortgage Trust, Series 2022-LPFX, Class C, ARM, 3.951%, 3/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 |
| MSWF Commercial Mortgage Trust, Series 2023-2, Class A5, ARM, 6.014%, 12/15/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 |
| New Economy Assets Phase 1 Sponsor, Series 2021-1, Class B1, 2.41%, 10/20/61 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| Real Estate Asset Liquidity Trust, Series 2025-1A, Class A1, ARM, 3.93%, 1/12/60 (1) | &nbsp;&nbsp;&nbsp;1857 | &nbsp;&nbsp;&nbsp;1349 |
| Real Estate Asset Liquidity Trust, Series 2025-1A, Class A2, ARM, 4.40%, 1/12/60 (1) | &nbsp;&nbsp;&nbsp;1690 | &nbsp;&nbsp;&nbsp;1231 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class B, FRN, 1M TSFR + 1.74%, 6.104%, 5/15/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
| VNDO Trust, Series 2016-350P, Class D, ARM, 4.033%, 1/10/35 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 |
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, ARM, 6.134%, 3/15/40 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
|  |  | 15152 |
| **Residential Mortgage 0.0%** |  |  |
| Finance of America HECM Buyout, Series 2024-HB1, Class A1A, 4.00%, 10/1/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 |
| **Total Non-U.S. Government Mortgage-Backed Securities<br> (Cost $42,681)** |  | **43089** |
| **PREFERRED STOCKS 0.0%** | **PREFERRED STOCKS 0.0%** | **PREFERRED STOCKS 0.0%** |
| **FINANCIAL INSTITUTIONS 0.0%** |  |  |
| **Insurance 0.0** |  |  |
| AH Parent, Series A, Acquisition Date: 9/27/24, Cost $246 (2)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
| Total Financial Institutions |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
| **Total Preferred Stocks<br> (Cost $246)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**250** |
| **U.S. GOVERNMENT & AGENCY MORTGAGE-BACKED SECURITIES 18.0%** | **U.S. GOVERNMENT & AGENCY MORTGAGE-BACKED SECURITIES 18.0%** | **U.S. GOVERNMENT & AGENCY MORTGAGE-BACKED SECURITIES 18.0%** |
| **U.S. Government Agency Obligations 13.9%** |  |  |
| Federal Home Loan Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, 4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| &nbsp;&nbsp;&nbsp;2.00%, 3/1/42 - 4/1/52 | 11446 | &nbsp;&nbsp;&nbsp;5699 |
| &nbsp;&nbsp;&nbsp;2.50%, 10/1/36 - 4/1/52 | 18505 | 10861 |
| &nbsp;&nbsp;&nbsp;3.00%, 1/1/33 - 6/1/52 | &nbsp;&nbsp;&nbsp;3735 | &nbsp;&nbsp;&nbsp;3302 |
| &nbsp;&nbsp;&nbsp;3.50%, 10/1/47 - 6/1/52 | &nbsp;&nbsp;&nbsp;1653 | &nbsp;&nbsp;&nbsp;1515 |
| &nbsp;&nbsp;&nbsp;4.00%, 11/1/37 - 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
| &nbsp;&nbsp;&nbsp;4.50%, 11/1/52 - 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846 |
| &nbsp;&nbsp;&nbsp;5.00%, 11/1/52 - 12/1/54 | &nbsp;&nbsp;&nbsp;4267 | &nbsp;&nbsp;&nbsp;4216 |
| &nbsp;&nbsp;&nbsp;5.50%, 8/1/53 - 2/1/55 | &nbsp;&nbsp;&nbsp;4117 | &nbsp;&nbsp;&nbsp;4164 |
| &nbsp;&nbsp;&nbsp;6.00%, 2/1/53 - 6/1/55 | &nbsp;&nbsp;&nbsp;5284 | &nbsp;&nbsp;&nbsp;5429 |
| &nbsp;&nbsp;&nbsp;6.50%, 9/1/54 - 1/1/55 | &nbsp;&nbsp;&nbsp;2150 | &nbsp;&nbsp;&nbsp;2234 |
| Federal National Mortgage Assn. |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, 3/1/36 - 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 |
| &nbsp;&nbsp;&nbsp;2.00%, 9/1/36 - 4/1/52 | 23854 | 13448 |
| &nbsp;&nbsp;&nbsp;2.50%, 3/1/37 - 1/1/54 | &nbsp;&nbsp;&nbsp;9983 | &nbsp;&nbsp;&nbsp;4109 |
| &nbsp;&nbsp;&nbsp;3.00%, 12/1/32 - 9/1/52 | &nbsp;&nbsp;&nbsp;3955 | &nbsp;&nbsp;&nbsp;3573 |
| &nbsp;&nbsp;&nbsp;3.50%, 5/1/35 - 8/1/53 | &nbsp;&nbsp;&nbsp;4531 | &nbsp;&nbsp;&nbsp;4149 |
| &nbsp;&nbsp;&nbsp;4.00%, 11/1/37 - 6/1/53 | &nbsp;&nbsp;&nbsp;4066 | &nbsp;&nbsp;&nbsp;3821 |
| &nbsp;&nbsp;&nbsp;4.50%, 11/1/48 - 2/1/54 | &nbsp;&nbsp;&nbsp;2451 | &nbsp;&nbsp;&nbsp;2371 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 11/1/44 - 12/1/54 | &nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp;1435 |
| &nbsp;&nbsp;&nbsp;5.50%, 7/1/53 - 1/1/55 | &nbsp;&nbsp;&nbsp;2176 | &nbsp;&nbsp;&nbsp;&nbsp;2201 |
| &nbsp;&nbsp;&nbsp;6.00%, 12/1/52 - 8/1/54 | &nbsp;&nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp;1541 |
| &nbsp;&nbsp;&nbsp;6.50%, 1/1/53 - 7/1/55 | &nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;1451 |
| UMBS, TBA, 7.00%, 9/15/54 (15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
|  |  | &nbsp;&nbsp;&nbsp;78048 |
| **U.S. Government Obligations 4.1%** |  |  |
| Government National Mortgage Assn. |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, 12/20/50 - 3/20/52 | &nbsp;&nbsp;&nbsp;6739 | &nbsp;&nbsp;&nbsp;&nbsp;4230 |
| &nbsp;&nbsp;&nbsp;2.50%, 8/20/50 - 3/20/52 | 12081 | &nbsp;&nbsp;&nbsp;&nbsp;4828 |
| &nbsp;&nbsp;&nbsp;3.00%, 11/20/46 - 6/20/52 | &nbsp;&nbsp;&nbsp;3549 | &nbsp;&nbsp;&nbsp;&nbsp;3147 |
| &nbsp;&nbsp;&nbsp;3.50%, 3/20/46 - 10/20/50 | &nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp;1508 |
| &nbsp;&nbsp;&nbsp;4.00%, 6/20/47 - 10/20/52 | &nbsp;&nbsp;&nbsp;2331 | &nbsp;&nbsp;&nbsp;&nbsp;2195 |
| &nbsp;&nbsp;&nbsp;4.50%, 6/20/47 - 7/20/53 | &nbsp;&nbsp;&nbsp;1889 | &nbsp;&nbsp;&nbsp;&nbsp;1828 |
| &nbsp;&nbsp;&nbsp;5.00%, 8/20/47 - 12/20/54 | &nbsp;&nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp;1763 |
| &nbsp;&nbsp;&nbsp;5.50%, 4/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| &nbsp;&nbsp;&nbsp;6.00%, 9/20/52 - 12/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 |
| Government National Mortgage Assn., TBA (15) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, 9/15/54 | &nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;2216 |
| &nbsp;&nbsp;&nbsp;6.00%, 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 |
|  |  | &nbsp;&nbsp;&nbsp;22625 |
| **Total U.S. Government & Agency Mortgage-Backed Securities<br> (Cost $99,883)** |  | **100673** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (EXCLUDING MORTGAGE-BACKED) 30.7%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (EXCLUDING MORTGAGE-BACKED) 30.7%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (EXCLUDING MORTGAGE-BACKED) 30.7%** |
| **U.S. Treasury Obligations 30.7%** |  |  |
| U.S. Treasury Bonds, 1.125%, 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 |
| U.S. Treasury Bonds, 1.75%, 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 |
| U.S. Treasury Bonds, 2.00%, 8/15/51 | &nbsp;&nbsp;&nbsp;1420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801 |
| U.S. Treasury Bonds, 2.375%, 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
| U.S. Treasury Bonds, 3.25%, 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 |
| U.S. Treasury Bonds, 3.625%, 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| U.S. Treasury Bonds, 3.625%, 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 |
| U.S. Treasury Bonds, 3.875%, 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 |
| U.S. Treasury Bonds, 3.875%, 5/15/43 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;&nbsp;1790 |
| U.S. Treasury Bonds, 4.00%, 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 |
| U.S. Treasury Bonds, 4.00%, 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 |
| U.S. Treasury Bonds, 4.125%, 8/15/44 | 25660 | &nbsp;&nbsp;&nbsp;23305 |
| U.S. Treasury Bonds, 4.25%, 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 |
| U.S. Treasury Bonds, 4.25%, 8/15/54 (16) | 14490 | &nbsp;&nbsp;&nbsp;12965 |
| U.S. Treasury Bonds, 4.50%, 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 |
| U.S. Treasury Bonds, 4.625%, 5/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 |
| U.S. Treasury Bonds, 4.625%, 11/15/44 | &nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;7373 |
| U.S. Treasury Bonds, 4.625%, 2/15/55 | 13245 | &nbsp;&nbsp;&nbsp;12628 |
| U.S. Treasury Bonds, 4.75%, 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 |
| U.S. Treasury Bonds, 4.75%, 5/15/55 | &nbsp;&nbsp;&nbsp;1795 | &nbsp;&nbsp;&nbsp;&nbsp;1746 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| U.S. Treasury Bonds, 4.75%, 2/15/45 | 13685 | &nbsp;&nbsp;&nbsp;13481 |
| U.S. Treasury Bonds, 5.00%, 5/15/45 | &nbsp;&nbsp;&nbsp;3405 | &nbsp;&nbsp;&nbsp;&nbsp;3462 |
| U.S. Treasury Notes, 3.50%, 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 |
| U.S. Treasury Notes, 3.75%, 8/31/31 | &nbsp;&nbsp;&nbsp;4535 | &nbsp;&nbsp;&nbsp;&nbsp;4518 |
| U.S. Treasury Notes, 3.875%, 8/15/34 | &nbsp;&nbsp;&nbsp;9325 | &nbsp;&nbsp;&nbsp;&nbsp;9142 |
| U.S. Treasury Notes, 3.875%, 4/30/30 (16) | &nbsp;&nbsp;&nbsp;9925 | &nbsp;&nbsp;&nbsp;10010 |
| U.S. Treasury Notes, 4.00%, 10/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 |
| U.S. Treasury Notes, 4.00%, 2/15/34 | &nbsp;&nbsp;&nbsp;3630 | &nbsp;&nbsp;&nbsp;&nbsp;3609 |
| U.S. Treasury Notes, 4.00%, 3/31/30 | &nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;4243 |
| U.S. Treasury Notes, 4.00%, 2/28/30 | &nbsp;&nbsp;&nbsp;5955 | &nbsp;&nbsp;&nbsp;&nbsp;6039 |
| U.S. Treasury Notes, 4.00%, 5/31/30 | &nbsp;&nbsp;&nbsp;7465 | &nbsp;&nbsp;&nbsp;&nbsp;7569 |
| U.S. Treasury Notes, 4.125%, 10/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524 |
| U.S. Treasury Notes, 4.125%, 8/31/30 | &nbsp;&nbsp;&nbsp;1130 | &nbsp;&nbsp;&nbsp;&nbsp;1151 |
| U.S. Treasury Notes, 4.125%, 8/15/53 | &nbsp;&nbsp;&nbsp;2505 | &nbsp;&nbsp;&nbsp;&nbsp;2194 |
| U.S. Treasury Notes, 4.125%, 3/31/32 | &nbsp;&nbsp;&nbsp;3230 | &nbsp;&nbsp;&nbsp;&nbsp;3274 |
| U.S. Treasury Notes, 4.125%, 2/29/32 | 10890 | &nbsp;&nbsp;&nbsp;11040 |
| U.S. Treasury Notes, 4.25%, 1/31/30 | &nbsp;&nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp;1413 |
| U.S. Treasury Notes, 4.375%, 11/30/28 | &nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;2395 |
| U.S. Treasury Notes, 4.375%, 8/15/43 | &nbsp;&nbsp;&nbsp;2995 | &nbsp;&nbsp;&nbsp;&nbsp;2831 |
| U.S. Treasury Notes, 4.375%, 1/31/32 (16) | 10905 | &nbsp;&nbsp;&nbsp;11212 |
| U.S. Treasury Notes, 4.50%, 12/31/31 | &nbsp;&nbsp;&nbsp;7475 | &nbsp;&nbsp;&nbsp;&nbsp;7741 |
| U.S. Treasury Notes, 4.625%, 2/15/35 | &nbsp;&nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp;1427 |
|  |  | 171939 |
| **Total U.S. Government Agency Obligations (Excluding Mortgage-Backed)<br> (Cost $173,090)** |  | **171939** |
| **SHORT-TERM INVESTMENTS 1.8%** | **SHORT-TERM INVESTMENTS 1.8%** | **SHORT-TERM INVESTMENTS 1.8%** |
| **Money Market Funds 1.8%** |  |  |
| T. Rowe Price Government Reserve Fund, 4.37% (8)(17) | &nbsp;&nbsp;&nbsp;9842 | &nbsp;&nbsp;&nbsp;&nbsp;9842 |
| **Total Short-Term Investments<br> (Cost $9,842)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**9842** |
| **SECURITIES LENDING COLLATERAL 1.6%** | **SECURITIES LENDING COLLATERAL 1.6%** | **SECURITIES LENDING COLLATERAL 1.6%** |
| **Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company 1.6%** |  |  |
| **Money Market Funds 1.6%** |  |  |
| T. Rowe Price Government Reserve Fund, 4.37% (8)(17) | &nbsp;&nbsp;&nbsp;9028 | &nbsp;&nbsp;&nbsp;&nbsp;9028 |
| **Total Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company** |  | &nbsp;&nbsp;&nbsp;&nbsp;**9028** |
| **Total Securities Lending Collateral<br> (Cost $9,028)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**9028** |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s, except for contracts)

---

| |
|:---|
| **OPTIONS PURCHASED 0.0%** |
| **Exchange-Traded Options Purchased 0.0%** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Contracts** | **Notional Amount** | **$ Value** |
| U.S. Treasury ten year futures contracts, Put, 9/26/25 @ $112.00 (9) | 137 | 15413 | 58 |
| U.S. Treasury two year futures contracts, Put, 9/26/25 @ $103.75 (9) | 402 | 83833 | 19 |
| Total Exchange-Traded Options Purchased (Cost $177) |  |  | 77 |
| **OTC Options Purchased 0.0%** | **OTC Options Purchased 0.0%** | **OTC Options Purchased 0.0%** | **OTC Options Purchased 0.0%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Contracts** | **Notional Amount** | **$ Value** |
| JPMorgan Chase | Credit Default Swap, Protection Bought (Relevant Credit: Markit CDX.NA.IG.S44, 5 Year Index, 6/20/30), Pay 1.00% Quarterly, Receive upon credit default, 10/15/25 @ 0.60%\* (9) | &nbsp;&nbsp;&nbsp;1 | 138218 | &nbsp;&nbsp;&nbsp;87 |
| Morgan Stanley | S&P 500 Index, Put, 9/19/24 @ $6,200.00 (9) | 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;46 |
| Total OTC Options Purchased (Cost $205) | Total OTC Options Purchased (Cost $205) | Total OTC Options Purchased (Cost $205) | Total OTC Options Purchased (Cost $205) | 133 |
| **Total Options Purchased (Cost $382)** | **Total Options Purchased (Cost $382)** | **Total Options Purchased (Cost $382)** | **Total Options Purchased (Cost $382)** | 210 |

---

---

| | |
|:---|:---|
| **Total Investments in Securities<br> 102.8% of Net Assets (Cost $573,232)** | **$576461** |
| **Other Assets Less Liabilities (2.8%)** | &nbsp;&nbsp;&nbsp;&nbsp;**(15876)** |
| **Net Assets 100.0%** | **$560585** |

---

---

| | |
|:---|:---|
| ‡ | Par/Shares and Notional Amount are denominated in U.S. dollars unless otherwise noted. |
| \* | Exercise Spread |
| (1) | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers. Total value of such securities at period-end amounts to $166,647 and represents 29.7% of net assets. |
| (2) | Level 3 in fair value hierarchy. |
| (3) | Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules ("restricted security"). Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description. The fund may have registration rights for certain restricted securities. Any costs related to such registration are generally borne by the issuer. The aggregate value of restricted securities (excluding 144A holdings) at period-end amounts to $1,458 and represents 0.1% of net assets. |
| (4) | Bank loan positions may involve multiple underlying tranches. In those instances, the position presented reflects the aggregate of those respective underlying tranches and the rate presented reflects the weighted average rate of the settled positions. |
| (5) | All or a portion of the position represents an unfunded commitment; a liability to fund the commitment has been recognized. The fund's total unfunded commitments at August 31, 2025, was $100 and was valued at $100 (0.0% of net assets). |
| (6) | All or a portion of this loan is unsettled as of August 31, 2025. The interest rate for unsettled loans will be determined upon settlement after period end. |
| (7) | SEC 30-day yield |
| (8) | Affiliated Companies |
| (9) | Non-income producing. |
| (10) | Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating. |
| (11) | All or a portion of this security is on loan at August 31, 2025. |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(12) Security has the ability to pay in-kind or pay in cash. When applicable, separate rates of such payments are disclosed.

(13) Perpetual security with no stated maturity date.

(14) Contingent value instrument that only pays out if a portion of the territory's Sales and Use Tax outperforms the projections in the Oversight Board's Certified Fiscal Plan.

(15) To-Be-Announced purchase commitment. Total value of such securities at period-end amounts to $2,677 and represents 0.5% of net assets.

(16) At August 31, 2025, all or a portion of this security is pledged as collateral and/or margin deposit to cover future funding obligations.

(17) Seven-day yield

---

| | |
|:---|:---|
| 1M TSFR | One month term SOFR (Secured overnight financing rate) |
| 3M TSFR | Three month term SOFR (Secured overnight financing rate) |
| 6M TSFR | Six month term SOFR (Secured overnight financing rate) |
| ARM | Adjustable Rate Mortgage (ARM); rate shown is effective rate at period-end. The rates for certain ARMs are not based on a published reference rate and spread but may be determined using a formula based on the rates of the underlying loans. |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLO | Collateralized Loan Obligation |
| CLP | Chilean Peso |
| CMO | Collateralized Mortgage Obligation |
| CNH | Offshore China Renminbi |
| COP | Colombian Peso |
| CPI | Consumer Price Index |
| CZK | Czech Koruna |
| EGP | Egyptian Pound |
| ETF | Exchange-Traded Fund |
| EUR | Euro |
| FRN | Floating Rate Note |
| GBP | British Pound |
| GO | General Obligation |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| OTC | Over-the-counter |
| PEN | Peruvian New Sol |
| PHP | Philippines Peso |
| PIK | Payment-in-kind |
| PLN | Polish Zloty |
| SEK | Swedish Krona |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | |
|:---|:---|
| SGD | Singapore Dollar |
| SOFR | Secured overnight financing rate |
| SOFR30A | 30-day Average term SOFR (Secured Overnight Financing Rate) |
| TBA | To-Be-Announced |
| THB | Thai Baht |
| TRY | Turkish Lira |
| TWD | Taiwan Dollar |
| UMBS | Uniform Mortgage-Backed Securities |
| USD | U.S. Dollar |
| VR | Variable Rate; rate shown is effective rate at period-end. The rates for certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and based on current market conditions. |
| ZAR | South African Rand |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par** | **$ Value** |
| (Amounts in 000s) |  |  |
| **TBA Sale Commitments (0.2)%** | **TBA Sale Commitments (0.2)%** | **TBA Sale Commitments (0.2)%** |
| **U.S. Government & Agency Mortgage-Backed Securities (0.2)%** | **U.S. Government & Agency Mortgage-Backed Securities (0.2)%** | **U.S. Government & Agency Mortgage-Backed Securities (0.2)%** |
| **U.S. Government Agency Obligations (0.1)%** |  |  |
| UMBS, TBA, 3.00%, 9/15/55 | (715) | (619) |
| **U.S. Government Obligations (0.1)%** |  |  |
| Government National Mortgage Assn., TBA, 2.50%, 9/22/55 | (430) | (367) |
|  |  | (986) |
| Total TBA Sales Commitments<br> (Proceeds $(975)) |  | (986) |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s, except for contracts)

---

| |
|:---|
| **OPTIONS WRITTEN 0.0%** |
| **OTC Options Written 0.0%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| JP Morgan Chase | Credit Default Swap, Protection Bought (Relevant Credit: Markit CDX.NA.IG.S44, 5 Year Index, 6/20/30), Pay 1.00% Quarterly, Receive upon credit default, 10/15/25 @ 0.70%\* | &nbsp;&nbsp;&nbsp;&nbsp;1 | 138218 | (42) |
| Wells Fargo | iShares iBoxx High Yield Corporate Bond ETF, Call, 9/19/25 @ $80.00 | 347 | &nbsp;&nbsp;&nbsp;&nbsp;2806 | (31) |
| Wells Fargo | iShares iBoxx High Yield Corporate Bond ETF, Put, 9/19/25 @ $80.00 | 347 | &nbsp;&nbsp;&nbsp;&nbsp;2806 | (10) |
| Total OTC Options Written (Premiums $(75)) | Total OTC Options Written (Premiums $(75)) | Total OTC Options Written (Premiums $(75)) | Total OTC Options Written (Premiums $(75)) | (83) |
| **Total Options Written (Premiums $(75))** | **Total Options Written (Premiums $(75))** | **Total Options Written (Premiums $(75))** | **Total Options Written (Premiums $(75))** | **(83)** |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

**SWAPS 0.1%** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Notional<br> Amount** | **$ Value** | **Upfront<br> Payments/<br> $(Receipts)** | **Unrealized<br> $ Gain/(Loss)** |
| **BILATERAL SWAPS (0.1)%** | **BILATERAL SWAPS (0.1)%** | **BILATERAL SWAPS (0.1)%** | **BILATERAL SWAPS (0.1)%** | **BILATERAL SWAPS (0.1)%** |
| **Credit Default Swaps, Protection Sold (0.1)%** | **Credit Default Swaps, Protection Sold (0.1)%** | **Credit Default Swaps, Protection Sold (0.1)%** | **Credit Default Swaps, Protection Sold (0.1)%** | **Credit Default Swaps, Protection Sold (0.1)%** |
| Goldman Sachs, Protection Sold (Relevant Credit: Markit CMBX.NA.BBB-.17, 30 Year Index), Receive 3.00% Monthly, Pay upon credit default, 12/15/56 | 3186 | (405) | (399) | &nbsp;&nbsp;&nbsp;&nbsp;(6) |
| **Total Return Swaps 0.0%** | **Total Return Swaps 0.0%** | **Total Return Swaps 0.0%** | **Total Return Swaps 0.0%** | **Total Return Swaps 0.0%** |
| Morgan Stanley, Pay Underlying Reference: iBoxx USD Liquid High Yield Index At Maturity, Receive Variable 4.34% (USD SOFR) Quarterly, 12/20/25 | 5550 | (255) | &nbsp;&nbsp;&nbsp;&nbsp;— | (255) |
| Morgan Stanley, Pay Underlying Reference: iBoxx USD Liquid Leveraged Loans Total Return Index At Maturity, Receive Variable 4.34% (USD SOFR) Quarterly, 3/20/26 | 5600 | &nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;45 |
| **Total Bilateral Total Return Swaps** | **Total Bilateral Total Return Swaps** |  | &nbsp;&nbsp;&nbsp;&nbsp;**—** | **(210)** |
| **Total Bilateral Swaps** | **Total Bilateral Swaps** |  | **(399)** | **(216)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Notional<br> Amount** | **$ Value** | **Initial<br> $ Value** | **Unrealized<br> $ Gain/(Loss)** |
| **CENTRALLY CLEARED SWAPS 0.2%** | **CENTRALLY CLEARED SWAPS 0.2%** | **CENTRALLY CLEARED SWAPS 0.2%** | **CENTRALLY CLEARED SWAPS 0.2%** | **CENTRALLY CLEARED SWAPS 0.2%** |
| **Credit Default Swaps, Protection Bought (0.3)%** | **Credit Default Swaps, Protection Bought (0.3)%** | **Credit Default Swaps, Protection Bought (0.3)%** | **Credit Default Swaps, Protection Bought (0.3)%** | **Credit Default Swaps, Protection Bought (0.3)%** |
| Protection Bought (Relevant Credit: Beazer Homes USA), Pay 5.00% Quarterly, Receive upon credit default, 12/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64) | &nbsp;&nbsp;&nbsp;(15) |
| Protection Bought (Relevant Credit: Markit CDX.NA.HY.S40), Pay 5.00% Quarterly, Receive upon credit default, 6/20/28 | 27440 | (2084) | (1115) | (969) |
| Protection Bought (Relevant Credit: iTraxx Europe Sub Financials S43), Pay 1.00% Quarterly, Receive upon credit default, 6/20/30 (EUR) | 23914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46) | &nbsp;&nbsp;&nbsp;&nbsp;(100) | &nbsp;&nbsp;&nbsp;&nbsp;54 |
| Protection Bought (Relevant Credit: Markit CDX.EM.HY.S43), Pay 1.00% Quarterly, Receive upon credit default, 6/20/30 | 14029 | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;(67) |
| **Total Centrally Cleared Credit Default Swaps, Protection Bought** | **Total Centrally Cleared Credit Default Swaps, Protection Bought** | **Total Centrally Cleared Credit Default Swaps, Protection Bought** | **Total Centrally Cleared Credit Default Swaps, Protection Bought** | **(997)** |
| **Credit Default Swaps, Protection Sold 0.6%** | **Credit Default Swaps, Protection Sold 0.6%** | **Credit Default Swaps, Protection Sold 0.6%** | **Credit Default Swaps, Protection Sold 0.6%** | **Credit Default Swaps, Protection Sold 0.6%** |
| Protection Sold (Relevant Credit: Markit CDX.NA.IG.S44), Receive 1.00% Quarterly, Pay upon credit default, 6/20/30 | 55163 | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;450 |
| Protection Sold (Relevant Credit: SES SA, Baa3\*), Receive 1.00% Quarterly, Pay upon credit default, 6/20/30 (EUR) | &nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52) | &nbsp;&nbsp;&nbsp;&nbsp;(103) | &nbsp;&nbsp;&nbsp;&nbsp;51 |
| Protection Sold (Relevant Credit: Markit CDX.NA.HY.S44), Receive 5.00% Quarterly, Pay upon credit default, 6/20/30 | 16765 | &nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;507 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Notional<br> Amount** | **$ Value** | **Initial<br> $ Value** | **Unrealized<br> $ Gain/(Loss)** |
| Protection Sold (Relevant Credit: iTraxx Europe Senior Financials S43), Receive 1.00% Quarterly, Pay upon credit default, 6/20/30 (EUR) | 36048 | &nbsp;&nbsp;861 | &nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) |
| Protection Sold (Relevant Credit: Markit CDX.EM.S43), Receive 1.00% Quarterly, Pay upon credit default, 6/20/30 | 16817 | (289) | (339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |
| **Total Centrally Cleared Credit Default Swaps, Protection Sold** | **Total Centrally Cleared Credit Default Swaps, Protection Sold** | **Total Centrally Cleared Credit Default Swaps, Protection Sold** | **Total Centrally Cleared Credit Default Swaps, Protection Sold** | &nbsp;&nbsp;**1035** |
| **Interest Rate Swaps (0.3)%** | **Interest Rate Swaps (0.3)%** | **Interest Rate Swaps (0.3)%** | **Interest Rate Swaps (0.3)%** | **Interest Rate Swaps (0.3)%** |
| 10 Year Interest Rate Swap, Pay Fixed 3.82% Annually, Receive Variable 4.34% (SOFR) Annually, 4/24/35 | 16966 | (173) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(173) |
| 10 Year Interest Rate Swap, Pay Fixed 3.70% Annually, Receive Variable 4.34% (SOFR) Annually, 4/30/35 | 16577 | &nbsp;&nbsp;&nbsp;&nbsp;(8) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| 10 Year Interest Rate Swap, Pay Fixed 4.00% Annually, Receive Variable 4.34% (SOFR) Annually, 5/16/35 | 33271 | (864) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(864) |
| 10 Year Interest Rate Swap, Pay Fixed 3.70% Annually, Receive Variable 4.34% (SOFR) Annually, 7/02/35 | 16599 | &nbsp;&nbsp;&nbsp;(14) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) |
| 5 Year Interest Rate Swap, Pay Fixed 4.23% Annually, Receive Variable 4.75% (WIBOR) Semi-annual, 7/21/30 (PLN) | 26490 | &nbsp;&nbsp;&nbsp;(19) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) |
| 5 Year Interest Rate Swap, Pay Fixed 4.22% Annually, Receive Variable 4.75% (WIBOR) Semi-annual, 7/22/30 (PLN) | 25723 | &nbsp;&nbsp;&nbsp;(16) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) |
| **Total Centrally Cleared Interest Rate Swaps** | **Total Centrally Cleared Interest Rate Swaps** | **Total Centrally Cleared Interest Rate Swaps** | **Total Centrally Cleared Interest Rate Swaps** | **(1094)** |
| **Zero-Coupon Inflation Swaps (0.3)%** | **Zero-Coupon Inflation Swaps (0.3)%** | **Zero-Coupon Inflation Swaps (0.3)%** | **Zero-Coupon Inflation Swaps (0.3)%** | **Zero-Coupon Inflation Swaps (0.3)%** |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.447% At Maturity, Receive Variable (Change in CPI) At Maturity, 3/21/35 | &nbsp;&nbsp;&nbsp;1609 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.458% At Maturity, Receive Variable (Change in CPI) At Maturity, 3/21/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.459% At Maturity, Receive Variable (Change in CPI) At Maturity, 3/21/35 | &nbsp;&nbsp;&nbsp;2248 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.439% At Maturity, Receive Variable (Change in CPI) At Maturity, 3/24/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.454% At Maturity, Receive Variable (Change in CPI) At Maturity, 3/24/35 | &nbsp;&nbsp;&nbsp;3213 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.520% At Maturity, Receive Variable (Change in CPI) At Maturity, 3/31/35 | &nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| 5 Year Zero-Coupon Inflation Swap, Pay Fixed 2.558% At Maturity, Receive Variable (Change in CPI) At Maturity, 5/13/30 | &nbsp;&nbsp;&nbsp;7672 | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Notional<br> Amount** | **$ Value** | **Initial<br> $ Value** | **Unrealized<br> $ Gain/(Loss)** |
| 5 Year Zero-Coupon Inflation Swap, Pay Fixed 2.548% At Maturity, Receive Variable (Change in CPI) At Maturity, 5/13/30 | 7278 | 41 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| 5 Year Zero-Coupon Inflation Swap, Pay Fixed 2.533% At Maturity, Receive Variable (Change in CPI) At Maturity, 5/14/30 | 3062 | 20 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| 5 Year Zero-Coupon Inflation Swap, Pay Fixed 2.562% At Maturity, Receive Variable (Change in CPI) At Maturity, 5/14/30 | 3062 | 15 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| 5 Year Zero-Coupon Inflation Swap, Pay Fixed 2.555% At Maturity, Receive Variable (Change in CPI) At Maturity, 5/14/30 | 5765 | 31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| 5 Year Zero-Coupon Inflation Swap, Pay Fixed 2.545% At Maturity, Receive Variable (Change in CPI) At Maturity, 5/14/30 | 3061 | 18 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.590% At Maturity, Receive Variable (Change in CPI) At Maturity, 8/27/35 | 4982 | &nbsp;&nbsp;&nbsp;4 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| 10 Year Zero-Coupon Inflation Swap, Pay Fixed 2.584% At Maturity, Receive Variable (Change in CPI) At Maturity, 8/27/35 | 5218 | &nbsp;&nbsp;&nbsp;6 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| **Total Centrally Cleared Zero-Coupon Inflation Swaps** |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**296** |
| **Total Centrally Cleared Swaps** | **Total Centrally Cleared Swaps** |  |  | &nbsp;&nbsp;&nbsp;**(760)** |
| **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | **$752** |
| **Variation margin receivable (payable) on centrally cleared swaps** | **Variation margin receivable (payable) on centrally cleared swaps** | **Variation margin receivable (payable) on centrally cleared swaps** | **Variation margin receivable (payable) on centrally cleared swaps** | &nbsp;&nbsp;&nbsp;&nbsp;**$(8)** |

---

\* Credit ratings as of August 31, 2025. Ratings shown are from Moody's Investors Service and if Moody's does not rate a security, then Standard & Poor's (S&P) is used. Fitch is used for securities that are not rated by either Moody's or S&P.

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

**FORWARD CURRENCY EXCHANGE CONTRACTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** | **Receive** |  | **Deliver** |  | **Unrealized<br> Gain/(Loss)** |
| Bank of America | 10/24/25 | CAD | 7590 | USD | 5532 | &nbsp;&nbsp;&nbsp;&nbsp;$8 |
| Bank of America | 10/2/25 | USD | 3 | MYR | 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of New York Mellon | 10/24/25 | USD | 4142 | CAD | 5620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| Barclays Bank | 10/16/25 | TRY | 61465 | USD | 1406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Barclays Bank | 10/24/25 | CAD | 78 | USD | 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Barclays Bank | 10/24/25 | CAD | 69 | USD | 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Barclays Bank | 9/3/25 | INR | 42223 | USD | 488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |
| BNP Paribas SA | 10/24/25 | JPY | 139577 | USD | 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Citibank | 10/24/25 | CAD | 2060 | USD | 1507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| Citibank | 10/24/25 | CAD | 52 | USD | 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank | 10/24/25 | CAD | 77 | USD | 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank | 9/2/25 | EGP | 6175 | USD | 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Citibank | 11/21/25 | USD | 827 | EUR | 705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Citibank | 9/2/25 | USD | 127 | EGP | 6175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Deutsche Bank | 9/11/25 | USD | 929 | EGP | 52190 | &nbsp;&nbsp;&nbsp;(142) |
| Deutsche Bank | 9/11/25 | USD | 1020 | EGP | 53480 | &nbsp;&nbsp;&nbsp;&nbsp;(78) |
| Deutsche Bank | 9/11/25 | EGP | 70985 | USD | 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 |
| Deutsche Bank | 9/3/25 | USD | 625 | BRL | 3443 | &nbsp;&nbsp;&nbsp;&nbsp;(10) |
| Deutsche Bank | 12/2/25 | BRL | 6885 | USD | 1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Deutsche Bank | 9/3/25 | USD | 627 | BRL | 3443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| Deutsche Bank | 12/2/25 | BRL | 3442 | USD | 614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Deutsche Bank | 12/2/25 | BRL | 3442 | USD | 618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Deutsche Bank | 9/3/25 | USD | 1264 | BRL | 6885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| Deutsche Bank | 10/2/25 | USD | 487 | THB | 15765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Deutsche Bank | 9/3/25 | THB | 15765 | USD | 486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Deutsche Bank | 10/10/25 | USD | 1307 | CNH | 9281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Deutsche Bank | 9/3/25 | CNH | 9281 | USD | 1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Deutsche Bank | 9/3/25 | BRL | 6885 | USD | 1269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Deutsche Bank | 9/3/25 | BRL | 3442 | USD | 634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Deutsche Bank | 9/3/25 | BRL | 3442 | USD | 634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Goldman Sachs | 9/3/25 | BRL | 6170 | USD | 1095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Goldman Sachs | 9/3/25 | USD | 527 | KRW | 725114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Goldman Sachs | 9/3/25 | USD | 480 | BRL | 2604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs | 10/2/25 | BRL | 2604 | USD | 477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Goldman Sachs | 10/24/25 | JPY | 416870 | USD | 2847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Goldman Sachs | 10/2/25 | PEN | 246 | USD | 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs | 10/2/25 | CLP | 18555 | USD | 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs | 10/2/25 | COP | 144387 | USD | 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs | 9/3/25 | USD | 1137 | BRL | 6170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Goldman Sachs | 9/3/25 | BRL | 2604 | USD | 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| HSBC Bank | 9/3/25 | COP | 1112343 | USD | 267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| HSBC Bank | 11/7/25 | CLP | 261662 | USD | 268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| HSBC Bank | 11/7/25 | CLP | 265627 | USD | 272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| HSBC Bank | 11/7/25 | CLP | 265627 | USD | 271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| HSBC Bank | 9/3/25 | USD | 277 | COP | 1112343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 9/3/25 | BRL | 7600 | USD | 1373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| JPMorgan Chase | 9/3/25 | TWD | 6147 | USD | 209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| JPMorgan Chase | 9/3/25 | USD | 20 | PEN | 72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 9/3/25 | MYR | 8 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 9/3/25 | USD | 832 | SGD | 1074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| JPMorgan Chase | 9/3/25 | USD | 288 | MYR | 1216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 9/3/25 | USD | 45 | MYR | 192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 10/2/25 | EGP | 116 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 10/2/25 | USD | 99 | TWD | 3021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 9/3/25 | TWD | 3021 | USD | 99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase | 9/3/25 | IDR | 3168184 | USD | 194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| JPMorgan Chase | 10/2/25 | USD | 194 | IDR | 3168184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** | **Receive** |  | **Deliver** |  | **Unrealized<br> Gain/(Loss)** |
| JPMorgan Chase | 9/3/25 | USD | 1401 | BRL | 7600 | &nbsp;&nbsp;&nbsp;$(1) |
| JPMorgan Chase | 9/3/25 | PEN | 72 | USD | 20 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley | 9/3/25 | SGD | 1075 | USD | 838 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley | 10/2/25 | USD | 840 | SGD | 1075 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Nomura International | 10/24/25 | USD | 5693 | JPY | 833740 | &nbsp;&nbsp;&nbsp;&nbsp;(12) |
| Royal Bank of Canada | 9/3/25 | USD | 195 | IDR | 3191504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Royal Bank of Canada | 10/2/25 | USD | 604 | KRW | 841412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Royal Bank of Canada | 9/3/25 | KRW | 841412 | USD | 603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Royal Bank of Canada | 10/24/25 | JPY | 416870 | USD | 2856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| Societe Generale SA | 9/3/25 | USD | 270 | CLP | 260670 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Societe Generale SA | 9/3/25 | USD | 326 | CHF | 261 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Societe Generale SA | 9/3/25 | CLP | 260670 | USD | 270 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Standard Chartered | 9/11/25 | EGP | 105670 | USD | 1936 | &nbsp;&nbsp;&nbsp;232 |
| Standard Chartered | 9/3/25 | USD | 634 | MYR | 2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Standard Chartered | 9/3/25 | USD | 119 | PHP | 6810 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Standard Chartered | 9/3/25 | MYR | 1939 | USD | 459 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Standard Chartered | 11/21/25 | USD | 6015 | EUR | 5124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |
| Standard Chartered | 9/3/25 | MYR | 2131 | USD | 506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Standard Chartered | 10/2/25 | USD | 507 | MYR | 2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Standard Chartered | 9/3/25 | USD | 315 | INR | 27681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Standard Chartered | 10/3/25 | INR | 27681 | USD | 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Standard Chartered | 9/3/25 | PHP | 10344 | USD | 181 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Standard Chartered | 10/2/25 | USD | 181 | PHP | 10344 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/24/25 | USD | 202 | CAD | 276 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/24/25 | USD | 950 | JPY | 139577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| State Street | 9/3/25 | INR | 199 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | BRL | 10 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | THB | 39 | USD | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 46 | TWD | 1361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 9/3/25 | USD | 80 | KRW | 111369 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 14 | COP | 59759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | USD | 3 | CLP | 3347 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/2/25 | USD | 37 | CAD | 51 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 125 | JPY | 18576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | AUD | 19 | USD | 12 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/2/25 | USD | 1 | EUR | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | NZD | 294 | USD | 174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | ZAR | 2439 | USD | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| State Street | 9/3/25 | GBP | 223 | USD | 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| State Street | 9/3/25 | TRY | 10162 | USD | 243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| State Street | 9/3/25 | USD | 6 | NOK | 64 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | PLN | 358 | USD | 96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| State Street | 9/3/25 | USD | 122 | ILS | 412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| State Street | 9/3/25 | USD | 2 | SEK | 23 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | HUF | 96292 | USD | 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| State Street | 9/3/25 | USD | 153 | CZK | 3297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| State Street | 9/3/25 | MXN | 6444 | USD | 342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| State Street | 9/3/25 | USD | 3 | ILS | 10 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 6 | CNH | 41 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/2/25 | USD | 1 | CAD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 2 | CZK | 51 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 4 | THB | 144 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 4 | CHF | 3 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | TRY | 361 | USD | 9 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 62 | PHP | 3599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | GBP | 3 | USD | 5 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | ZAR | 35 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 87 | TWD | 2612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| State Street | 9/3/25 | USD | 5 | KRW | 7478 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 25 | JPY | 3634 | &nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** | **Receive** |  | **Deliver** |  | **Unrealized<br> Gain/(Loss)** |
| State Street | 9/3/25 | USD | 2 | IDR | 34677 | $— |
| State Street | 9/3/25 | NZD | 5 | USD | 3 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 138 | PLN | 512 | &nbsp;&nbsp;&nbsp;(2) |
| State Street | 9/3/25 | MXN | 110 | USD | 6 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 1 | HUF | 411 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 5 | SGD | 6 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | INR | 745 | USD | 8 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 4 | BRL | 23 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | PEN | 297 | USD | 83 | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 9/3/25 | USD | 66 | COP | 269658 | &nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | USD | 30 | CLP | 29341 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 3 | GBP | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | CZK | 31 | USD | 1 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 1 | CHF | 1 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | THB | 84 | USD | 3 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 2 | ZAR | 32 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | MXN | 788 | USD | 42 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 4 | HUF | 1287 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | SGD | 2 | USD | 1 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 48 | TWD | 1426 | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 9/3/25 | USD | 7 | BRL | 37 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 2 | TRY | 65 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 175 | INR | 15318 | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 9/3/25 | COP | 132388 | USD | 33 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | IDR | 30987 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | PHP | 65 | USD | 1 | &nbsp;&nbsp;&nbsp;— |
| State Street | 11/21/25 | EUR | 146 | USD | 172 | &nbsp;&nbsp;&nbsp;— |
| State Street | 11/21/25 | EUR | 118 | USD | 138 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 2 | THB | 51 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 1 | ZAR | 21 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | COP | 80268 | USD | 20 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 3 | GBP | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | CZK | 22 | USD | 1 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | CHF | 2 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | CNH | 15 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 3 | HUF | 858 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | ILS | 6 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | SGD | 4 | USD | 3 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 125 | TWD | 3769 | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| State Street | 9/3/25 | MXN | 53 | USD | 3 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 5 | BRL | 26 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 1 | TRY | 43 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | IDR | 27010 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/2/25 | USD | 1 | EGP | 53 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 2 | INR | 168 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | KRW | 2549 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 305 | CLP | 293358 | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 10/2/25 | PEN | 225 | USD | 64 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | CLP | 293358 | USD | 305 | &nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | USD | 248 | COP | 995582 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 64 | PEN | 225 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | COP | 995582 | USD | 247 | &nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 3 | MXN | 63 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/16/25 | USD | 7 | ILS | 22 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 1 | CZK | 20 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/10/25 | USD | 2 | CNH | 12 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 5 | SGD | 6 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | GBP | 2 | USD | 2 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/3/25 | INR | 268 | USD | 3 | &nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 2 | IDR | 36653 | &nbsp;&nbsp;&nbsp;— |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** | **Receive** |  | **Deliver** |  | **Unrealized<br> Gain/(Loss)** |
| State Street | 10/2/25 | USD | 42 | TWD | 1284 | $— |
| State Street | 10/2/25 | HUF | 779 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 2 | THB | 51 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 4 | KRW | 5099 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | COP | 89594 | USD | 22 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | CLP | 21341 | USD | 22 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | BRL | 79 | USD | 14 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | NZD | 3 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/2/25 | EUR | 1 | USD | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 1 | EUR | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/1/25 | USD | 38 | CAD | 52 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | BRL | 5 | USD | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | ZAR | 312 | USD | 18 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | NOK | 626 | USD | 62 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 2 | SGD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | MXN | 175 | USD | 9 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | HUF | 439 | USD | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | TRY | 321 | USD | 8 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | AUD | 6 | USD | 4 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 275 | HUF | 93736 | &nbsp;&nbsp;&nbsp;&nbsp;(2) |
| State Street | 10/2/25 | USD | 156 | CZK | 3295 | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | CZK | 3295 | USD | 156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 9/3/25 | PLN | 154 | USD | 42 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | ILS | 416 | USD | 125 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | HUF | 93736 | USD | 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| State Street | 9/3/25 | USD | 253 | TRY | 10415 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/3/25 | USD | 125 | ILS | 416 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | TRY | 10415 | USD | 246 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 42 | PLN | 154 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 6 | NOK | 64 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | NOK | 64 | USD | 6 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | SEK | 23 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 330 | CHF | 263 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | USD | 300 | GBP | 222 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 2 | SEK | 23 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 9/3/25 | CHF | 263 | USD | 329 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | GBP | 222 | USD | 300 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | MXN | 7332 | USD | 392 | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
| State Street | 9/3/25 | USD | 394 | MXN | 7332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| State Street | 10/2/25 | USD | 2 | KRW | 2135 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/10/25 | CNH | 12 | USD | 2 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | AUD | 19 | USD | 12 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | PHP | 564 | USD | 10 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | NZD | 298 | USD | 176 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 152 | JPY | 22210 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 2 | IDR | 26045 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | USD | 16 | TWD | 486 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/3/25 | ILS | 4 | USD | 1 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street | 10/2/25 | ZAR | 2421 | USD | 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Toronto-Dominion Bank | 9/5/25 | COP | 3407600 | USD | 843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Toronto-Dominion Bank | 10/24/25 | USD | 5538 | CAD | 7640 | &nbsp;&nbsp;&nbsp;(39) |
| UBS | 10/17/25 | MXN | 15620 | USD | 823 | &nbsp;&nbsp;&nbsp;&nbsp;10 |
| UBS | 10/24/25 | USD | 19 | NZD | 31 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 10/24/25 | NZD | 31 | USD | 19 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 12/5/25 | COP | 383355 | USD | 94 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 9/5/25 | USD | 95 | COP | 383355 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 9/5/25 | USD | 211 | COP | 851900 | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
| UBS | 12/5/25 | COP | 851900 | USD | 209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| UBS | 12/5/25 | COP | 760321 | USD | 187 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 9/5/25 | USD | 189 | COP | 760321 | &nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

(Amounts in 000s)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** | **Receive** |  | **Deliver** |  | **Unrealized<br> Gain/(Loss)** |
| UBS | 12/5/25 | COP | 1412024 | USD | 345 | &nbsp;&nbsp;&nbsp;&nbsp;$3 |
| UBS | 9/5/25 | USD | 349 | COP | 1412024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| UBS | 9/2/25 | USD | 126 | EGP | 6122 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 10/2/25 | EGP | 6122 | USD | 124 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| UBS | 9/2/25 | EGP | 6122 | USD | 126 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Wells Fargo | 9/3/25 | USD | 487 | THB | 15693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Wells Fargo | 9/3/25 | BRL | 1340 | USD | 240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Wells Fargo | 9/3/25 | BRL | 1340 | USD | 240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Wells Fargo | 9/3/25 | USD | 1289 | CNH | 9255 | &nbsp;&nbsp;&nbsp;&nbsp;(11) |
| Wells Fargo | 9/3/25 | USD | 247 | BRL | 1340 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Wells Fargo | 9/3/25 | USD | 247 | BRL | 1340 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **$214** |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| |
|:---|
| **FUTURES CONTRACTS** |
| ($000s) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Expiration<br> Date** | **Notional<br> Amount** | **Value and<br> Unrealized<br> Gain (Loss)** |
| Short, 8 Euro BOBL contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;(1075) | &nbsp;&nbsp;&nbsp;&nbsp;$7 |
| Short, 51 Euro BTP contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;(7176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Short, 6 Euro BUND contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Long, 1 Euro BUXL thirty year bond contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Long, 2 Euro OAT contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Short, 22 Euro SCHATZ contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;(2693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Long, 9 Mini ten year JGB contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| Long, 11 E-mini S&P 500 contracts | 09/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Short, 22 Government of Canada five year bond contracts | 12/25 | &nbsp;&nbsp;&nbsp;&nbsp;(1809) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| Long, 9 Government of Canada ten year bond contracts | 12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Short, 23 U.S. Treasury Notes ten year contracts | 12/25 | &nbsp;&nbsp;&nbsp;&nbsp;(2576) | &nbsp;&nbsp;&nbsp;&nbsp;(12) |
| Short, 141 Ultra U.S. Treasury Bond contracts | 12/25 | &nbsp;&nbsp;(16511) | &nbsp;&nbsp;&nbsp;&nbsp;76 |
| Long, 921 Ultra U.S. Treasury Notes ten year contracts | 12/25 | 104967 | &nbsp;&nbsp;&nbsp;402 |
| Long, 71 Long Gilt ten year contracts | 12/25 | &nbsp;&nbsp;&nbsp;&nbsp;8642 | &nbsp;&nbsp;&nbsp;&nbsp;(22) |
| Long, 174 U.S. Treasury Notes five year contracts | 12/25 | &nbsp;&nbsp;&nbsp;19015 | &nbsp;&nbsp;&nbsp;&nbsp;33 |
| Long, 375 U.S. Treasury Notes two year contracts | 12/25 | &nbsp;&nbsp;&nbsp;78106 | &nbsp;&nbsp;&nbsp;&nbsp;96 |
| **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2** |
| **Variation margin receivable (payable) on open futures contracts** | **Variation margin receivable (payable) on open futures contracts** | **Variation margin receivable (payable) on open futures contracts** | **$580** |

---

------

T. ROWE PRICE TOTAL RETURN ETF

------

#### AFFILIATED COMPANIES
($000s)

The fund may invest in certain securities that are considered affiliated companies. As defined by the 1940 Act, an affiliated company is one in which the fund owns 5% or more of the outstanding voting securities, or a company that is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the three months ended August 31, 2025. Net realized gain (loss), investment income, change in net unrealized gain/loss, and purchase and sales cost reflect all activity for the period then ended.

---

| | | | |
|:---|:---|:---|:---|
| **Affiliate** | **Net Realized Gain<br> (Loss)** | **Changes in Net<br> Unrealized<br> Gain/Loss** | **Investment<br> Income** |
| T. Rowe Price Institutional Floating Rate Fund - Z Class | &nbsp;&nbsp;$— | $12 | &nbsp;&nbsp;$109 |
| T. Rowe Price Government Reserve Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;90++ |
| Totals | $—# | $12 | $199+ |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** |
| **Affiliate** | **Value<br> 5/31/25** | **Purchase<br> Cost** | **Sales<br> Cost** | **Value<br> 8/31/25** |
| T. Rowe Price Institutional Floating Rate Fund - Z Class | &nbsp;&nbsp;$5600 | 112 |  | &nbsp;&nbsp;&nbsp;$5724 |
| T. Rowe Price Government Reserve Fund | &nbsp;&nbsp;&nbsp;18333 | &nbsp;&nbsp;&nbsp;&nbsp;¤ | &nbsp;&nbsp;&nbsp;¤ | &nbsp;&nbsp;&nbsp;&nbsp;18870 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  |  | $24,594^ |

---

---

| |
|:---|
| Excludes earnings on securities lending collateral, which are subject to rebates and fees. |
| Capital gain distributions from mutual funds represented $0 of the net realized gain (loss). |
| Investment income comprised $199 of dividend income and $0 of interest income. |
| Purchase and sale information not shown for cash management funds. |
| The cost basis of investments in affiliated companies was $24,616. |

---

The accompanying notes are an integral part of this Portfolio of Investments.

------

T. ROWE PRICE TOTAL RETURN ETF

------

Unaudited

#### NOTES TO PORTFOLIO OF INVESTMENTS

------

T. Rowe Price Exchange-Traded Funds, Inc. (the corporation) is registered under the Investment Company Act of 1940 (the 1940 Act). The T. Rowe Price Total Return ETF (the fund) is an open-end management investment company established by the corporation and follows accounting and reporting guidance of the Financial Accounting Standards Board *Accounting Standards Codification* Topic 946. The accompanying Portfolio of Investments was prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). For additional information on the fund's significant accounting policies and investment related disclosures, please refer to the fund's most recent semiannual or annual shareholder report and its prospectus.

#### VALUATION

#### Fair Value
The fund's financial instruments are valued at the close of the New York Stock Exchange (NYSE), normally 4 p.m. Eastern Time, each day the NYSE is open for business, and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fund's Board of Directors (the Board) has designated T. Rowe Price Associates, Inc. as the fund's valuation designee (Valuation Designee). Subject to oversight by the Board, the Valuation Designee performs the following functions in performing fair value determinations: assesses and manages valuation risks; establishes and applies fair value methodologies; tests fair value methodologies; and evaluates pricing vendors and pricing agents. The duties and responsibilities of the Valuation Designee are performed by its Valuation Committee. The Valuation Designee provides periodic reporting to the Board on valuation matters.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date

Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads)

Level 3 – unobservable inputs (including the Valuation Designee's assumptions in determining fair value)

Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.

#### Valuation Techniques
Debt securities generally are traded in the over-the-counter (OTC) market and are valued at prices furnished by independent pricing services or by broker dealers who make markets in such securities. When valuing securities, the independent pricing services consider factors such as, but not limited to, the yield or price of bonds of comparable quality, coupon, maturity, and type, as well as prices quoted by dealers who make markets in such securities.

------

T. ROWE PRICE TOTAL RETURN ETF

------

Equity securities, including exchange-traded funds, listed or regularly traded on a securities exchange or in the over-the-counter (OTC) market are valued at the last quoted sale price or, for certain markets, the official closing price at the time the valuations are made. OTC Bulletin Board securities are valued at the mean of the closing bid and asked prices. A security that is listed or traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market for such security. Listed securities not traded on a particular day are valued at the mean of the closing bid and asked prices for domestic securities.

Investments denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as provided by an outside pricing service.

Investments in mutual funds are valued at the mutual fund's closing NAV per share on the day of valuation. Listed options, and OTC options with a listed equivalent, are valued at the mean of the closing bid and asked prices and exchange-traded options on futures contracts are valued at closing settlement prices. Swaps are valued at prices furnished by an independent pricing service or independent swap dealers. Forward currency exchange contracts are valued using the prevailing forward exchange rate. Futures contracts are valued at closing settlement prices.

Investments for which market quotations are not readily available or deemed unreliable are valued at fair value as determined in good faith by the Valuation Designee. The Valuation Designee has adopted methodologies for determining the fair value of investments for which market quotations are not readily available or deemed unreliable, including the use of other pricing sources. Factors used in determining fair value vary by type of investment and may include market or investment specific considerations. The Valuation Designee typically will afford greatest weight to actual prices in arm's length transactions, to the extent they represent orderly transactions between market participants, transaction information can be reliably obtained, and prices are deemed representative of fair value. However, the Valuation Designee may also consider other valuation methods such as market-based valuation multiples; a discount or premium from market value of a similar, freely traded security of the same issuer; discounted cash flows; yield to maturity; or some combination. Fair value determinations are reviewed on a regular basis. Because any fair value determination involves a significant amount of judgment, there is a degree of subjectivity inherent in such pricing decisions. Fair value prices determined by the Valuation Designee could differ from those of other market participants, and it is possible that the fair value determined for a security may be materially different from the value that could be realized upon the sale of that security.

#### Valuation Inputs
The following table summarizes the fund's financial instruments, based on the inputs used to determine their fair values on August 31, 2025 (for further detail by category, please refer to the accompanying Portfolio of Investments):

------

T. ROWE PRICE TOTAL RETURN ETF

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total Value** |
| **Assets** |  |  |  |  |
| Fixed Income Securities<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$329251 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$329251 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;103435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;103770 |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82770 |
| Bank Loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35051 |
| Bond Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5724 | &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;5724 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 |
| Preferred Stocks | &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;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9842 | &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;9842 |
| Securities Lending Collateral | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9028 | &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;9028 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 |
| Total Securities | &nbsp;&nbsp;&nbsp;&nbsp;24671 | &nbsp;&nbsp;&nbsp;&nbsp;550016 | &nbsp;&nbsp;&nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp;576461 |
| Swaps\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453 |
| Forward Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599 |
| Futures Contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627 | &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;627 |
| Total | &nbsp;&nbsp;$25298 | &nbsp;&nbsp;$552068 | &nbsp;&nbsp;$1774 | &nbsp;&nbsp;$579140 |
| **Liabilities** |  |  |  |  |
| TBA Sale Commitments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$986 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$986 |
| Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 |
| Swaps\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2828 |
| Forward Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
| Futures Contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &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;49 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$49 | &nbsp;&nbsp;&nbsp;&nbsp;$4282 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$4331 |

---

<sup>1</sup> Includes Asset-Backed Securities, Foreign Government Obligations & Municipalities, Municipal Securities, Non-U.S. Government Mortgage-Backed Securities, U.S. Government & Agency Mortgage-Backed Securities and U.S. Government Agency Obligations (Excluding Mortgage-Backed).

\* The fair value presented includes cumulative gain (loss) on open futures contracts and centrally cleared swaps; however, the net value reflected on the accompanying Portfolio of Investments is only the unsettled variation margin receivable (payable) at that date.

#### OTHER MATTERS
Unpredictable environmental, political, social and economic events, including but not limited to, environmental or natural disasters, war and conflict, terrorism, geopolitical and regulatory developments (including trading and tariff arrangements), and public health epidemics or threats, may significantly affect the economy and the markets and issuers in which a fund invests. The extent and duration of such events and resulting market disruptions cannot be predicted. These and other similar events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others, and exacerbate other pre-existing political, social, and economic risks. The fund's performance could be negatively impacted if the value of a portfolio holding were harmed by these or such events.

#### ETF988-054Q1

#### 08/25

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** T. Rowe Price Exchange-Traded Funds, Inc.

- **b. Investment Company Act file number:** 811-23494

- **c. CIK number of Registrant:** 0001795351

- **d. LEI of Registrant:** 549300XZPUK24E1UMH17

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

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

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

- **a. Name of Series:** T. Rowe Price Total Return ETF

- **b. EDGAR series identifier (if any):** S000072798

- **c. LEI of Series:** 549300YYO0GDGZ739W96

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $582145327.53

**Total Liabilities:** $21540519.14

**Net Assets:** $560604808.39

**Delayed Delivery Securities:** $3053159.44

**Stand-by Commitments:** $9198097.00

**Cash Not Reported:** $393755.67

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -268.808926 | **1-Year:** -16622.060925 | **5-Year:** -72251.706438 | **10-Year:** -54118.309002 | **30-Year:** -12077.638623

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

- **3-Month:** -361.634341 | **1-Year:** -591.225148 | **5-Year:** -24255.933441 | **10-Year:** -6020.842517 | **30-Year:** -1614.180579

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229339 | 1.64%                | -0.09%               | 1.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-103254.62              | $6438407.02                                |
| Month 2  | $-7506.94                | $-2963065.40                               |
| Month 3  | $333235.04               | $3637837.63                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays US Agg Total Return Value Unhedged USD (Returns)

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                                                             | 10YR MINI JGB FUT SEP25 XSIM 20250911                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | SG        |         9 | NC      | $-3856.47     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| 1261229 BC Ltd                                                                  | 1261229 BC LTD SR SECURED 144A 04/32 10                                                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    440000 | PA      | $456500.00    | 0.08%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5530722105 TROWE CALL USD 80 20250919                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |      -174 | NC      | $-15376.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5530722108 TROWE PUT USD 80 20250919                                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |      -174 | NC      | $-4881.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5530839184 TROWE PUT USD 6200 20250919                                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        25 | NC      | $46424.49     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5531461512 TROWE CDSOPT PUT USD 0.6 20251015                                                                                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $86559.02     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5531461520 TROWE CDSOPT PUT USD 0.7 20251015                                                                                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $-42376.26    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5537365402 TROWE CALL USD 80 20250919                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |      -173 | NC      | $-15287.89    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | 5537365404 TROWE PUT USD 80 20250919                                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |      -173 | NC      | $-4853.58     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | ACRISURE INC SER A 2 CVT TC686MGV1                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     16611 | NS      | $399992.88    | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| Acrisure LLC / Acrisure Finance Inc                                             | ACRISURE LLC / FIN INC SR SECURED 144A 11/30 7.5                                                                                          | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25875.00     | 0.00%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Acrisure LLC / Acrisure Finance Inc                                             | ACRISURE LLC / FIN INC SR UNSECURED 144A 06/29 8.5                                                                                        | CUSIP: 00489LAM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $178500.00    | 0.03%             | 2029-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Acrisure LLC                                                                    | ACRISURE LLC 2025 TERM LOAN B                                                                                                             | CUSIP: 00488PAX3<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |    220000 | PA      | $219656.80    | 0.04%             | 2032-06-05      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts Inc                                                          | ADVANCE AUTO PARTS COMPANY GUAR 144A 08/30 7                                                                                              | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    190000 | PA      | $194805.10    | 0.03%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts Inc                                                          | ADVANCE AUTO PARTS SR UNSECURED 144A 08/33 7.375                                                                                          | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    190000 | PA      | $194734.99    | 0.03%             | 2033-08-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | ADVISOR GROUP INC 2025 TERM LOAN                                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    140000 | PA      | $139844.60    | 0.02%             | 2032-07-30      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| AES Andes SA                                                                    | AES ANDES SA SR UNSECURED 144A 03/32 6.25                                                                                                 | CUSIP: 00111VAD9<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    470000 | PA      | $485469.58    | 0.09%             | 2032-03-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| AES Corp/The                                                                    | AES CORP/THE SR UNSECURED 03/32 5.8                                                                                                       | CUSIP: 00130HCM5<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    680000 | PA      | $700443.52    | 0.12%             | 2032-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | AH PARENT, INC. SERIES A TC3I9NQ04                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       250 | NS      | $250290.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Albion Financing 1 SARL / Aggreko Holdings Inc                                  | ALBION FINANCING 1SARL / SR SECURED 144A 05/30 7                                                                                          | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    200000 | PA      | $206500.00    | 0.04%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Aggreko Holdings Inc                                                            | ALBION FINANCING 3 SARL 2025 USD TERM LOAN                                                                                                | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | LU        |    259088 | PA      | $259655.24    | 0.05%             | 2031-05-01      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                                                           | ALDAR PROPERTIES PJSC SUBORDINATED REGS 04/55 VAR                                                                                         | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | DBT              | CORP              | AE        |    540000 | PA      | $564035.32    | 0.10%             | 2055-04-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Alen 2021-ACEN Mortgage Trust                                                   | ALEN 2021 ACEN MORTGAGE TRUST ALEN 2021 ACEN A 144A                                                                                       | CUSIP: 01449NAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $135800.00    | 0.02%             | 2034-04-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Alera Group Inc                                                                 | ALERA GROUP INC 2025 2ND LIEN TERM LOAN                                                                                                   | CUSIP: 01451PAD8<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |    820000 | PA      | $848700.00    | 0.15%             | 2033-05-31      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| Alera Group Inc                                                                 | ALERA GROUP INC 2025 TERM LOAN                                                                                                            | CUSIP: 01451PAB2<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |    145000 | PA      | $145510.40    | 0.03%             | 2032-05-30      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities Inc                                             | ALEXANDRIA REAL ESTATE E COMPANY GUAR 05/36 5.25                                                                                          | CUSIP: 015271BC2<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94062.35     | 0.02%             | 2036-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | ALLIANT HOLD / CO ISSUER SR SECURED 144A 01/31 7                                                                                          | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    263000 | PA      | $271876.25    | 0.05%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | ALLIANT HOLD / CO ISSUER SR UNSECURED 144A 10/32 7.375                                                                                    | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    835000 | PA      | $860050.00    | 0.15%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Alliant Holdings Intermediate LLC                                               | ALLIANT HOLDNGS INTRMDIATE LLC 2025 TERM LOAN B                                                                                           | CUSIP: 01881UAN5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |    769279 | PA      | $767402.34    | 0.14%             | 2031-09-19      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                     | ALLIED UNIVERSAL HOLDCO SR SECURED 144A 02/31 7.875                                                                                       | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    262000 | PA      | $274772.50    | 0.05%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes Series 2024-A                                | ALLY BANK AUTO CREDIT LINKED N ABCLN 2024 A B 144A                                                                                        | CUSIP: 02007GZ55<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    141250 | PA      | $143412.10    | 0.03%             | 2032-05-17      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes Series 2024-B                                | ALLY BANK AUTO CREDIT LINKED N ABCLN 2024 B A2 144A                                                                                       | CUSIP: 02007G4B6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    171441 | PA      | $172873.92    | 0.03%             | 2032-09-15      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                                                              | ALLY FINANCIAL INC SR UNSECURED 01/30 VAR                                                                                                 | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    525000 | PA      | $566688.15    | 0.10%             | 2030-01-03      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                                            | ALPHA GENERATION LLC SR UNSECURED 144A 10/32 6.75                                                                                         | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    285000 | PA      | $293193.75    | 0.05%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                                            | ALPHA GENERATION LLC TERM LOAN B                                                                                                          | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    144136 | PA      | $143835.89    | 0.03%             | 2031-09-30      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                                | ALTICE FRANCE SA SR SECURED 144A 10/29 5.5                                                                                                | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $171000.00    | 0.03%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Amcor Flexibles North America Inc                                               | AMCOR FLEXIBLES NORTH AM COMPANY GUAR 03/30 5.1                                                                                           | CUSIP: 02344AAG3<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    205000 | PA      | $209692.04    | 0.04%             | 2030-03-17      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AAdvantage Loyalty IP Ltd                                                       | AMERICAN AIRLINES INC 2025 TERM LOAN                                                                                                      | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    420877 | PA      | $419366.38    | 0.07%             | 2028-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| American Express Co                                                             | AMERICAN EXPRESS CO SR UNSECURED 07/33 VAR                                                                                                | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    245000 | PA      | $247886.84    | 0.04%             | 2033-07-20      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| Amrize Finance US LLC                                                           | AMRIZE FINANCE US LLC COMPANY GUAR 144A 04/28 4.7                                                                                         | CUSIP: 43475RAB2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    205000 | PA      | $207586.49    | 0.04%             | 2028-04-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Amrize Finance US LLC                                                           | AMRIZE FINANCE US LLC COMPANY GUAR 144A 04/30 4.95                                                                                        | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    240000 | PA      | $244048.80    | 0.04%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AMSR 2020-SFR5 Trust                                                            | AMSR TRUST AMSR 2020 SFR5 A 144A                                                                                                          | CUSIP: 03217JAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155082 | PA      | $154027.28    | 0.03%             | 2037-11-17      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| AMSR 2021-SFR2 Trust                                                            | AMSR TRUST AMSR 2021 SFR2 A 144A                                                                                                          | CUSIP: 00179VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    473891 | PA      | $460233.23    | 0.08%             | 2038-08-17      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| AMSR 2021-SFR2 Trust                                                            | AMSR TRUST AMSR 2021 SFR2 C 144A                                                                                                          | CUSIP: 00179VAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1445000 | PA      | $1400014.55   | 0.25%             | 2038-08-17      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| AMSR 2021-SFR4 Trust                                                            | AMSR TRUST AMSR 2021 SFR4 A 144A                                                                                                          | CUSIP: 66982FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1785000 | PA      | $1732363.92   | 0.31%             | 2038-12-17      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2021-1                                                 | ANGEL OAK MORTGAGE TRUST AOMT 2021 1 A3 144A                                                                                              | CUSIP: 03465CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    121483 | PA      | $106360.88    | 0.02%             | 2066-01-25      | Variable      | 1.22%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2022-2                                                 | ANGEL OAK MORTGAGE TRUST AOMT 2022 2 A1 144A                                                                                              | CUSIP: 03464PAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    212810 | PA      | $202761.78    | 0.04%             | 2067-01-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2022-6                                                 | ANGEL OAK MORTGAGE TRUST AOMT 2022 6 A1 144A                                                                                              | CUSIP: 03465VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    242631 | PA      | $242110.06    | 0.04%             | 2067-07-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2023-6                                                 | ANGEL OAK MORTGAGE TRUST AOMT 2023 6 A2 144A                                                                                              | CUSIP: 03464UAB2<br>LEI: 254900QAUT3NUZVCSB04 | Long             | ABS-MBS          | CORP              | US        |     84628 | PA      | $85237.81     | 0.02%             | 2067-12-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2025-3                                                 | ANGEL OAK MORTGAGE TRUST AOMT 2025 3 A1 144A                                                                                              | CUSIP: 03466RAA9<br>LEI: 254900U85BAJNPG0MG65 | Long             | ABS-MBS          | CORP              | US        |    646565 | PA      | $650679.88    | 0.12%             | 2070-03-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide Inc                                              | ANHEUSER BUSCH INBEV WOR COMPANY GUAR 01/49 5.55                                                                                          | CUSIP: 03523TBV9<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    102000 | PA      | $99992.84     | 0.02%             | 2049-01-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| APA Infrastructure Ltd                                                          | APA INFRASTRUCTURE LTD COMPANY GUAR 144A 09/34 5.125                                                                                      | CUSIP: 00188LAA5<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |    115000 | PA      | $115192.40    | 0.02%             | 2034-09-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| APA Infrastructure Ltd                                                          | APA INFRASTRUCTURE LTD COMPANY GUAR 144A 09/44 5.75                                                                                       | CUSIP: 00188LAB3<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |    225000 | PA      | $218977.65    | 0.04%             | 2044-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Applied Systems Inc                                                             | APPLIED SYSTEMS INC 2024 1ST LIEN TERM LOAN                                                                                               | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |    642123 | PA      | $640999.18    | 0.11%             | 2031-02-24      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                                                             | APPLIED SYSTEMS INC 2024 2ND LIEN TERM LOAN                                                                                               | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   1081059 | PA      | $1105923.24   | 0.20%             | 2032-02-23      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| AppLovin Corp                                                                   | APPLOVIN CORP SR UNSECURED 12/31 5.375                                                                                                    | CUSIP: 03831WAC2<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174780.74    | 0.03%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ARES LX CLO LTD                                                                 | ARES CLO LTD ARES 2021 60A C 144A                                                                                                         | CUSIP: 04018FAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1502690.82   | 0.27%             | 2034-07-18      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Ares Strategic Income Fund                                                      | ARES STRATEGIC INCOME FU SR UNSECURED 144A 09/28 5.45                                                                                     | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150774.75    | 0.03%             | 2028-09-09      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust 2025-A                                                    | ARI FLEET LEASE TRUST ARIFL 2025 A B 144A                                                                                                 | CUSIP: 04033CAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1009270.60   | 0.18%             | 2034-01-17      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Arsenal AIC Parent LLC                                                          | ARSENAL AIC PARENT LLC 2025 TERM LOAN B                                                                                                   | CUSIP: 04287KAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    297246 | PA      | $297153.74    | 0.05%             | 2030-08-18      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Arsenal AIC Parent LLC                                                          | ARSENAL AIC PARENT LLC UNSECURED 144A 10/31 11.5                                                                                          | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $289250.00    | 0.05%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Ascend Learning LLC                                                             | ASCEND LEARNING LLC 2021 2ND LIEN TERM LOAN                                                                                               | CUSIP: 04349HAM6<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    153130 | PA      | $152977.30    | 0.03%             | 2029-12-10      | Floating      | 10.17%                | No            |                  2 | On Loan: No      |
| Ascend Learning LLC                                                             | ASCEND LEARNING LLC 2025 REPRICED TERM LOAN B                                                                                             | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    178688 | PA      | $178519.79    | 0.03%             | 2028-12-11      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Aspen Insurance Holdings Ltd                                                    | ASPEN INSURANCE HLDG LTD SR UNSECURED 07/30 5.75                                                                                          | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |    255000 | PA      | $265069.44    | 0.05%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                     | ASURION CORPORATION 2023 TERM LOAN B11                                                                                                    | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    159660 | PA      | $159435.31    | 0.03%             | 2028-08-19      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                     | ASURION LLC 2021 2ND LIEN TERM LOAN B3                                                                                                    | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    505000 | PA      | $490637.80    | 0.09%             | 2028-01-31      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                     | ASURION LLC 2021 SECOND LIEN TERM LOAN B4                                                                                                 | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    590257 | PA      | $559174.53    | 0.10%             | 2029-01-20      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                     | ASURION LLC 2025 TERM LOAN B13                                                                                                            | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    160000 | PA      | $158080.00    | 0.03%             | 2030-09-19      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                                                          | ATHENAHEALTH GROUP INC SR UNSECURED 144A 02/30 6.5                                                                                        | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    295000 | PA      | $288731.25    | 0.05%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| AthenaHealth Group Inc                                                          | ATHENAHEALTH INC 2022 TERM LOAN B                                                                                                         | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    275842 | PA      | $275554.89    | 0.05%             | 2029-02-15      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Autokiniton US Holdings Inc                                                     | AUTOKINITON US HOLDINGS, INC. 2024 TERM LOAN B                                                                                            | CUSIP: 05278HAC0<br>LEI: 254900EHNKMJ1OSEZL85 | Long             | LON              | CORP              | US        |     20000 | PA      | $19491.60     | 0.00%             | 2028-04-06      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Autostrade per l Italia SpA                                                     | AUTOSTRADE PER L ITALIA SR UNSECURED REGS 01/30 2                                                                                         | CUSIP: 000000000<br>LEI: 815600149448CEB9B230 | Long             | DBT              | CORP              | IT        |    675000 | PA      | $755370.72    | 0.13%             | 2030-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding 2024-1 LLC                                                | AUXILIOR TERM FUNDING LLC XCAP 2024 1A A3 144A                                                                                            | CUSIP: 05335FAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102022.18    | 0.02%             | 2031-07-15      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Avalara Inc                                                                     | AVALARA INC 2025 TERM LOAN B                                                                                                              | CUSIP: 05338KAB3<br>LEI: 549300Q16CMW239SS315 | Long             | LON              | CORP              | US        |    455000 | PA      | $457529.80    | 0.08%             | 2032-03-26      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | AVIS BUDGET CAR/FINANCE COMPANY GUAR 144A 01/30 8.25                                                                                      | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $150256.25    | 0.03%             | 2030-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| Avis Budget Rental Car Funding AESOP LLC                                        | AVIS BUDGET RENTAL CAR FUNDING AESOP 2022 5A C 144A                                                                                       | CUSIP: 05377RFX7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100398.87    | 0.02%             | 2027-04-20      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                        | AVIS BUDGET RENTAL CAR FUNDING AESOP 2023 2A C 144A                                                                                       | CUSIP: 05377RGN8<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100769.66    | 0.02%             | 2027-10-20      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                        | AVIS BUDGET RENTAL CAR FUNDING AESOP 2023 2A D 144A                                                                                       | CUSIP: 05377RKG8<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $206400.07    | 0.04%             | 2027-10-20      | Fixed         | 7.26%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                        | AVIS BUDGET RENTAL CAR FUNDING AESOP 2023 3A D 144A                                                                                       | CUSIP: 05377RKH6<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    115000 | PA      | $116098.81    | 0.02%             | 2028-02-20      | Fixed         | 7.32%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                        | AVIS BUDGET RENTAL CAR FUNDING AESOP 2024 3A B 144A                                                                                       | CUSIP: 05377RJL9<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    360000 | PA      | $369885.10    | 0.07%             | 2030-12-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Axian Telecom Holding & Management PLC                                          | AXIAN TELE HOLD PLC COMPANY GUAR 144A 07/30 7.25                                                                                          | CUSIP: 05465QAA7<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |    270000 | PA      | $270000.00    | 0.05%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Amur Equipment Finance Receivables X LLC                                        | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2022 1A D 144A                                                                                        | CUSIP: 03236VAE1<br>LEI: 549300K5Y88MV8B4M421 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99714.02     | 0.02%             | 2028-08-21      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| Amur Equipment Finance Receivables XI LLC                                       | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2022 2A A2 144A                                                                                       | CUSIP: 03236XAB3<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |     34445 | PA      | $34524.76     | 0.01%             | 2028-06-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Amur Equipment Finance Receivables XIII LLC                                     | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2024 1A B 144A                                                                                        | CUSIP: 03237CAC6<br>LEI: 254900O8ABFLU3FOSN14 | Long             | ABS-O            | CORP              | US        |    140000 | PA      | $143041.33    | 0.03%             | 2031-01-21      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                                                             | AXON ENTERPRISE INC SR UNSECURED 144A 03/30 6.125                                                                                         | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143675.00    | 0.03%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                                                             | AXON ENTERPRISE INC SR UNSECURED 144A 03/33 6.25                                                                                          | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    270000 | PA      | $278437.50    | 0.05%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Barings Clo Ltd 2021-III                                                        | BABSON CLO LTD BABSN 2021 3A B1R 144A                                                                                                     | CUSIP: 06762TAN1<br>LEI: 549300V1VT2NXKFG0H98 | Long             | ABS-CBDO         | CORP              | KY        |   1150000 | PA      | $1150568.97   | 0.21%             | 2035-01-18      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Barings Clo Ltd 2022-IV                                                         | BABSON CLO LTD BABSN 2022 4A A1R 144A                                                                                                     | CUSIP: 06763HAL0<br>LEI: 549300NRFNRCBGSJ3239 | Long             | ABS-CBDO         | CORP              | KY        |   1085000 | PA      | $1088059.10   | 0.19%             | 2037-10-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO 2022-3 Ltd                                              | BAIN CAPITAL CREDIT CLO, LIMIT BCC 2022 3A BR 144A                                                                                        | CUSIP: 05684NAQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |    780000 | PA      | $779945.29    | 0.14%             | 2035-07-17      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| BANK 2024-BNK47                                                                 | BANK BANK 2024 BNK47 A5                                                                                                                   | CUSIP: 06540GAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    254000 | PA      | $270217.85    | 0.05%             | 2057-06-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                            | BANK OF AMERICA CORP SR UNSECURED 01/31 VAR                                                                                               | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    795000 | PA      | $818771.30    | 0.15%             | 2031-01-24      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                            | BANK OF AMERICA CORP SR UNSECURED 01/35 VAR                                                                                               | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    477000 | PA      | $492886.49    | 0.09%             | 2035-01-23      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                            | BANK OF AMERICA CORP SR UNSECURED 07/31 VAR                                                                                               | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133074.15    | 0.02%             | 2031-07-23      | Variable      | 1.90%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                            | BANK OF AMERICA CORP SUBORDINATED 10/35 VAR                                                                                               | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    440000 | PA      | $442407.24    | 0.08%             | 2035-10-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR10                                                                | BANK5 BANK5 2024 5YR10 A3                                                                                                                 | CUSIP: 06604AAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1270000 | PA      | $1311025.45   | 0.23%             | 2057-10-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR10                                                                | BANK5 BANK5 2024 5YR10 AS                                                                                                                 | CUSIP: 06604AAM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1155000 | PA      | $1186080.13   | 0.21%             | 2057-10-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR12                                                                | BANK5 BANK5 2024 5YR12 AS                                                                                                                 | CUSIP: 06644XBP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    315000 | PA      | $330094.89    | 0.06%             | 2057-12-15      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR8                                                                 | BANK5 BANK5 2024 5YR8 AS                                                                                                                  | CUSIP: 065923BF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    965000 | PA      | $1015382.46   | 0.18%             | 2057-08-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Barbados Government International Bond                                          | BARBADOS GOVT OF SR UNSECURED 144A 06/35 8                                                                                                | CUSIP: 067070AK8<br>LEI: 529900UD1KUUS4SFD905 | Long             | DBT              | NUSS              | BB        |    200000 | PA      | $201250.00    | 0.04%             | 2035-06-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                    | BARCLAYS PLC SR UNSECURED 02/31 VAR                                                                                                       | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    525000 | PA      | $541591.58    | 0.10%             | 2031-02-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                    | BARCLAYS PLC SR UNSECURED 08/46 VAR                                                                                                       | CUSIP: 06738EDE2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198938.80    | 0.04%             | 2046-08-11      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                                                | BAT CAPITAL CORP COMPANY GUAR 08/32 5.35                                                                                                  | CUSIP: 05526DCB9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    320000 | PA      | $328231.68    | 0.06%             | 2032-08-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                                                           | BATH + BODY WORKS INC COMPANY GUAR 07/36 6.75                                                                                             | CUSIP: 501797AM6<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127500.00    | 0.02%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                                                           | BATH + BODY WORKS INC COMPANY GUAR 144A 10/30 6.625                                                                                       | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128125.00    | 0.02%             | 2030-10-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Battalion CLO XII Ltd                                                           | BATTALION CLO LTD BATLN 2018 12A BRR 144A                                                                                                 | CUSIP: 07133RAY1<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |    280000 | PA      | $280012.56    | 0.05%             | 2031-05-17      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Battalion CLO XII Ltd                                                           | BATTALION CLO LTD BATLN 2018 12A CRR 144A                                                                                                 | CUSIP: 07133RBA2<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |    305000 | PA      | $305142.46    | 0.05%             | 2031-05-17      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Battalion Clo XV Ltd                                                            | BATTALION CLO LTD BATLN 2020 15A BR 144A                                                                                                  | CUSIP: 07131AAR5<br>LEI: 549300CJP8HGT746II19 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998253.28    | 0.18%             | 2033-01-17      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| Battalion Clo XV Ltd                                                            | BATTALION CLO LTD BATLN 2020 15A CR 144A                                                                                                  | CUSIP: 07131AAT1<br>LEI: 549300CJP8HGT746II19 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250103.88    | 0.04%             | 2033-01-17      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Bausch + Lomb Corp                                                              | BAUSCH + LOMB CORPORATION 2025 TERM LOAN B                                                                                                | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    652984 | PA      | $653101.95    | 0.12%             | 2031-01-15      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd                                                                  | BAUSCH HEALTH COMPANIES INC 2025 TERM LOAN B                                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    455000 | PA      | $448302.40    | 0.08%             | 2030-10-08      | Floating      | 10.57%                | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                                         | BAYER US FINANCE II LLC COMPANY GUAR 144A 07/64 4.7                                                                                       | CUSIP: 07274NBH5<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |    349000 | PA      | $259598.76    | 0.05%             | 2064-07-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance LLC                                                            | BAYER US FINANCE LLC COMPANY GUAR 144A 01/29 6.25                                                                                         | CUSIP: 07274EAJ2<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |   2395000 | PA      | $2515626.57   | 0.45%             | 2029-01-21      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Bayview Opportunity Master Fund VII 2024-CAR1 LLC                               | BAYVIEW OPPORTUNITY MASTER FUN BVCLN 2024 CAR1 B 144A                                                                                     | CUSIP: 07336QAB8<br>LEI: 254900S53K9VTUR1UX42 | Long             | ABS-O            | CORP              | US        |    122079 | PA      | $122600.43    | 0.02%             | 2031-12-26      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Oceanview Mortgage Loan Trust 2020-1                                            | BAYVIEW OPPORTUNITY MASTER FUN BVINV 2020 1 A3 144A                                                                                       | CUSIP: 676477AD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $87943.17     | 0.02%             | 2050-05-28      | Variable      | 3.28%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer Inc                                                           | BCPE PEQUOD BUYER INC USD TERM LOAN B                                                                                                     | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |    274312 | PA      | $274556.64    | 0.05%             | 2031-11-25      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Benchmark 2019-B12 Mortgage Trust                                               | BENCHMARK MORTGAGE TRUST BMARK 2019 B12 A5                                                                                                | CUSIP: 08162FAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    635000 | PA      | $600742.26    | 0.11%             | 2052-08-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Benchmark 2019-B13 Mortgage Trust                                               | BENCHMARK MORTGAGE TRUST BMARK 2019 B13 A4                                                                                                | CUSIP: 08162DAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $604077.06    | 0.11%             | 2057-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Benchmark 2024-V5 Mortgage Trust                                                | BENCHMARK MORTGAGE TRUST BMARK 2024 V5 AM                                                                                                 | CUSIP: 08163XBA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    766535 | PA      | $802794.48    | 0.14%             | 2057-01-10      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Benchmark 2024-V7 Mortgage Trust                                                | BENCHMARK MORTGAGE TRUST BMARK 2024 V7 A3                                                                                                 | CUSIP: 08163YAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255000 | PA      | $270356.99    | 0.05%             | 2056-05-15      | Variable      | 6.23%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                                 | BENEFIT STREET PARTNERS CLO LT BSP 2015 6BR A1R 144A                                                                                      | CUSIP: 08182DAN4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1340000 | PA      | $1339234.34   | 0.24%             | 2038-04-20      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO XXIII Ltd                                           | BENEFIT STREET PARTNERS CLO LT BSP 2021 23A B1R 144A                                                                                      | CUSIP: 08186VAQ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $249298.35    | 0.04%             | 2034-04-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Bimbo Bakeries USA Inc                                                          | BIMBO BAKERIES USA INC COMPANY GUAR 144A 01/29 6.05                                                                                       | CUSIP: 09031WAC7<br>LEI: 549300HOXXHHT7926W92 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209133.80    | 0.04%             | 2029-01-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Blackstone Property Partners Europe Holdings Sarl                               | BLACKSTONE PP EUR HOLD COMPANY GUAR REGS 03/29 1.75                                                                                       | CUSIP: 000000000<br>LEI: 213800Y3B5GQFBGVHP79 | Long             | DBT              | CORP              | LU        |    540000 | PA      | $602173.91    | 0.11%             | 2029-03-12      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BMO 2024-5C5 Mortgage Trust                                                     | BMO MORTGAGE TRUST BMO 2024 5C5 AS                                                                                                        | CUSIP: 05593RAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    960000 | PA      | $1011538.94   | 0.18%             | 2057-02-15      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Boeing Co/The                                                                   | BOEING CO SR UNSECURED 02/50 3.75                                                                                                         | CUSIP: 097023CQ6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    142000 | PA      | $101184.09    | 0.02%             | 2050-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Boeing Co/The                                                                   | BOEING CO/THE PREFERRED STOCK 10/27 6                                                                                                     | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |      2219 | NS      | $165137.98    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                                                                   | BOEING CO/THE SR UNSECURED 05/54 6.858                                                                                                    | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    952000 | PA      | $1045009.45   | 0.19%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Bon Secours Mercy Health Inc                                                    | BON SECOURS MERCY SECURED 06/30 3.464                                                                                                     | CUSIP: 09778PAA3<br>LEI: 5493006NA7JSVYYYF398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193862.20    | 0.03%             | 2030-06-01      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | BOOTS GROUP BIDCO LTD USD TERM LOAN                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |     75000 | PA      | $75156.00     | 0.01%             | 2032-07-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Booz Allen Hamilton Inc                                                         | BOOZ ALLEN HAMILTON INC COMPANY GUAR 04/35 5.95                                                                                           | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    425000 | PA      | $437181.35    | 0.08%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| Brazos Delaware II LLC                                                          | BRAZOS DELAWARE II LLC 2025 TERM LOAN B                                                                                                   | CUSIP: 10620UAL6<br>LEI: 549300V1BTYXZRGYUU04 | Long             | LON              | CORP              | US        |    128026 | PA      | $128065.69    | 0.02%             | 2030-02-11      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Brixmor Operating Partnership LP                                                | BRIXMOR OPERATING PART SR UNSECURED 04/32 5.2                                                                                             | CUSIP: 11120VAN3<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |    225000 | PA      | $229563.90    | 0.04%             | 2032-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| Broadcom Inc                                                                    | BROADCOM INC SR UNSECURED 02/32 4.55                                                                                                      | CUSIP: 11135FCC3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349042.05    | 0.06%             | 2032-02-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BSREP Commercial Mortgage Trust 2021-DC                                         | BSREP COMMERCIAL MORTGAGE TRUS BSREP 2021 DC C 144A                                                                                       | CUSIP: 05591UAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    132079 | PA      | $110973.75    | 0.02%             | 2038-08-15      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Bulgaria Government International Bond                                          | BULGARIA SR UNSECURED REGS 05/38 4.125                                                                                                    | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |    710000 | PA      | $839855.89    | 0.15%             | 2038-05-07      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2024-GPA3                                          | BX TRUST BX 2024 GPA3 B 144A                                                                                                              | CUSIP: 123910AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100865 | PA      | $101149.08    | 0.02%             | 2039-12-15      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2024-MDHS                                          | BX TRUST BX 2024 MDHS A 144A                                                                                                              | CUSIP: 12433BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110260 | PA      | $110535.86    | 0.02%             | 2041-05-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2024-MDHS                                          | BX TRUST BX 2024 MDHS B 144A                                                                                                              | CUSIP: 12433BAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110260 | PA      | $110535.86    | 0.02%             | 2041-05-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2024-SLCT                                          | BX TRUST BX 2024 SLCT B 144A                                                                                                              | CUSIP: 12433JAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99970.70     | 0.02%             | 2042-01-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2024-SLCT                                          | BX TRUST BX 2024 SLCT C 144A                                                                                                              | CUSIP: 12433JAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    165000 | PA      | $163659.82    | 0.03%             | 2042-01-15      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| BX Trust 2025-ROIC                                                              | BX TRUST BX 2025 ROIC B 144A                                                                                                              | CUSIP: 05593VAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    836737 | PA      | $833132.78    | 0.15%             | 2030-03-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| BX Trust 2025-TAIL                                                              | BX TRUST BX 2025 TAIL A 144A                                                                                                              | CUSIP: 123912AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190000 | PA      | $190237.50    | 0.03%             | 2035-06-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Cable One Inc                                                                   | CABLE ONE INC COMPANY GUAR 03/26 0.00000                                                                                                  | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    195000 | PA      | $189489.11    | 0.03%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                                       | CAESARS ENTERTAIN INC SR SECURED 144A 02/30 7                                                                                             | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165400.00    | 0.03%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                                       | CAESARS ENTERTAINMENT CORP TERM LOAN B                                                                                                    | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    143952 | PA      | $143412.06    | 0.03%             | 2030-02-06      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                                                    | CAIXABANK SA 144A 07/31 VAR                                                                                                               | CUSIP: 12803RAL8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    275000 | PA      | $278221.63    | 0.05%             | 2031-07-03      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                                                    | CAIXABANK SA 144A 07/36 VAR                                                                                                               | CUSIP: 12803RAM6<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    460000 | PA      | $463293.14    | 0.08%             | 2036-07-03      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                                                    | CAIXABANK SA SR UNSECURED 144A 06/35 VAR                                                                                                  | CUSIP: 12803RAH7<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $1052143.00   | 0.19%             | 2035-06-15      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | CAN 10YR BOND FUT DEC25 XMOD 20251218                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | CA        |         9 | NC      | $3197.76      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | CAN 5YR BOND FUT  DEC25 XMOD 20251218                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | CA        |       -22 | NC      | $-5158.83     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                                                      | CAPITAL ONE FINANCIAL CO SR UNSECURED 05/28 VAR                                                                                           | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1345000 | PA      | $1358381.41   | 0.24%             | 2028-05-10      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Carmax Auto Owner Trust 2022-4                                                  | CARMAX AUTO OWNER TRUST CARMX 2022 4 D                                                                                                    | CUSIP: 14318UAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $177163.22    | 0.03%             | 2029-04-16      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| Carmax Auto Owner Trust 2023-3                                                  | CARMAX AUTO OWNER TRUST CARMX 2023 3 C                                                                                                    | CUSIP: 14319BAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    190000 | PA      | $194093.51    | 0.03%             | 2029-02-15      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust 2024-1                                                  | CARMAX AUTO OWNER TRUST CARMX 2024 1 C                                                                                                    | CUSIP: 14318WAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     85000 | PA      | $86795.66     | 0.02%             | 2029-08-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust 2024-2                                                  | CARMAX AUTO OWNER TRUST CARMX 2024 2 D                                                                                                    | CUSIP: 14319EAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90000 | PA      | $93590.18     | 0.02%             | 2030-10-15      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Carmax Auto Owner Trust 2024-3                                                  | CARMAX AUTO OWNER TRUST CARMX 2024 3 D                                                                                                    | CUSIP: 14319GAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40997.32     | 0.01%             | 2031-01-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Carmax Select Receivables Trust 2024-A                                          | CARMAX SELECT RECEIVABLES TRUS CMXS 2024 A B                                                                                              | CUSIP: 14319FAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40647.55     | 0.01%             | 2030-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Carmax Select Receivables Trust 2024-A                                          | CARMAX SELECT RECEIVABLES TRUS CMXS 2024 A C                                                                                              | CUSIP: 14319FAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    175000 | PA      | $178972.15    | 0.03%             | 2030-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trust 2025-A                                          | CARMAX SELECT RECEIVABLES TRUS CMXS 2025 A B                                                                                              | CUSIP: 14319UAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | PA      | $1419302.50   | 0.25%             | 2030-09-16      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Carpenter Technology Corp                                                       | CARPENTER TECHNOLOGY SR UNSECURED 03/30 7.625                                                                                             | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128750.00    | 0.02%             | 2030-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CONE Trust 2024-DFW1                                                            | CART CONE 2024 DFW1 A 144A                                                                                                                | CUSIP: 20682AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $119925.01    | 0.02%             | 2041-08-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2021-P1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 P1 D                                                                                            | CUSIP: 14687BAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95000 | PA      | $93390.16     | 0.02%             | 2027-12-10      | Fixed         | 1.82%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2022-N1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2022 N1 D 144A                                                                                       | CUSIP: 14686GAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14642 | PA      | $14515.86     | 0.00%             | 2028-12-11      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2022-P1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2022 P1 C                                                                                            | CUSIP: 14688DAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $29415.90     | 0.01%             | 2028-04-10      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2023-N1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2023 N1 C 144A                                                                                       | CUSIP: 14688FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    740000 | PA      | $745753.43    | 0.13%             | 2029-07-10      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2023-N3                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2023 N3 B 144A                                                                                       | CUSIP: 14686RAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    455000 | PA      | $457749.11    | 0.08%             | 2028-05-10      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2024-N1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N1 B 144A                                                                                       | CUSIP: 14687QAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55000 | PA      | $55647.41     | 0.01%             | 2030-05-10      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2024-N1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N1 C 144A                                                                                       | CUSIP: 14687QAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $152914.79    | 0.03%             | 2030-05-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2024-N2                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N2 B 144A                                                                                       | CUSIP: 14687VAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $60946.97     | 0.01%             | 2030-09-10      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2024-N2                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N2 C 144A                                                                                       | CUSIP: 14687VAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $81633.92     | 0.01%             | 2030-09-10      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2024-N3                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N3 B 144A                                                                                       | CUSIP: 14687WAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $310768.55    | 0.06%             | 2030-12-10      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2025-N1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 N1 A3 144A                                                                                      | CUSIP: 14688XAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    585000 | PA      | $590268.86    | 0.11%             | 2029-08-10      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2025-N1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 N1 B 144A                                                                                       | CUSIP: 14688XAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1177000 | PA      | $1186966.25   | 0.21%             | 2031-05-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2025-P1                                          | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 P1 C                                                                                            | CUSIP: 14689MAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1340000 | PA      | $1368932.61   | 0.24%             | 2031-08-11      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Carvana Co                                                                      | CARVANA CO SR SECURED 144A 06/31 9                                                                                                        | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    228869 | PA      | $259766.32    | 0.05%             | 2031-06-01      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| CBRE Services Inc                                                               | CBRE SERVICES INC COMPANY GUAR 06/30 4.8                                                                                                  | CUSIP: 12505BAJ9<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    265000 | PA      | $268940.02    | 0.05%             | 2030-06-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CCG Receivables Trust 2025-1                                                    | CCG RECEIVABLES TRUST CCG 2025 1 A2 144A                                                                                                  | CUSIP: 12515XAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210000 | PA      | $210894.98    | 0.04%             | 2032-10-14      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| CCG Receivables Trust 2025-1                                                    | CCG RECEIVABLES TRUST CCG 2025 1 C 144A                                                                                                   | CUSIP: 12515XAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $507063.25    | 0.09%             | 2032-10-14      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp                                    | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 02/31 4.25                                                                                       | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $142987.50    | 0.03%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp                                    | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 03/31 7.375                                                                                      | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $352325.00    | 0.06%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp                                    | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 06/33 4.5                                                                                        | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $267375.00    | 0.05%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                        | CELANESE US HOLDINGS LLC COMPANY GUAR 07/32 6.879                                                                                         | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    425000 | PA      | $437750.00    | 0.08%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Cellnex Finance Co SA                                                           | CELLNEX FINANCE CO SA COMPANY GUAR REGS 09/32 2                                                                                           | CUSIP: 000000000<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |   1400000 | PA      | $1478315.91   | 0.26%             | 2032-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CENT 2025-CITY                                                                  | CENT TRUST CENT 2025 CITY A 144A                                                                                                          | CUSIP: 12517TAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    645000 | PA      | $653491.10    | 0.12%             | 2040-07-10      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Centene Corp                                                                    | CENTENE CORP SR UNSECURED 12/29 4.625                                                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    805000 | PA      | $769928.57    | 0.14%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC / Charter Communications Operating Capital | CHARTER COMM OPT LLC/CAP SR SECURED 04/31 2.8                                                                                             | CUSIP: 161175BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    655000 | PA      | $590519.18    | 0.11%             | 2031-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Charter Next Generation Inc                                                     | CHARTER NEX US INC 2024 TERM LOAN B1                                                                                                      | CUSIP: 16125TAM4<br>LEI: 549300KRNU8RNVGYXG75 | Long             | LON              | CORP              | US        |    834927 | PA      | $838175.34    | 0.15%             | 2030-11-29      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes Series 2025-1                                    | CHASE AUTO CREDIT LINKED NOTES CACLN 2025 1 B 144A                                                                                        | CUSIP: 46591HCS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475765 | PA      | $478797.32    | 0.09%             | 2033-02-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2024-RPL4                                     | CHASE MORTGAGE FINANCE CORPORA CHASE 2024 RPL4 A1B 144A                                                                                   | CUSIP: 16160NAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     23291 | PA      | $20748.61     | 0.00%             | 2064-12-25      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Chenango Park CLO Ltd                                                           | CHENANGO PARK CLO, LTD. CHPRK 2018 1A BR 144A                                                                                             | CUSIP: 16409TAS8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1235000 | PA      | $1236089.00   | 0.22%             | 2030-04-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Chile Electricity Lux Mpc II Sarl                                               | CHILE ELECTRICITY LUX GOVT GUARANT 144A 10/35 5.58                                                                                        | CUSIP: 16882LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    195501 | PA      | $197495.50    | 0.04%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | CHPE LLC SR SECURED NOTE TC7MB2AJ0                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $200000.00    | 0.04%             | 2035-09-30      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems Inc                                                | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 01/32 10.875                                                                                     | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    380000 | PA      | $400900.00    | 0.07%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CIFC Funding 2013-IV Ltd                                                        | CIFC FUNDING LTD CIFC 2013 4A DR2 144A                                                                                                    | CUSIP: 12549FCA5<br>LEI: 549300QSQ98IRWUWDV20 | Long             | ABS-CBDO         | CORP              | KY        |    835000 | PA      | $835769.66    | 0.15%             | 2031-04-27      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| CIFC Funding 2016-I Ltd                                                         | CIFC FUNDING LTD CIFC 2016 1A D1R3 144A                                                                                                   | CUSIP: 17180TBS0<br>LEI: 54930076OPDXR0U68E20 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $245403.87    | 0.04%             | 2031-10-21      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                                   | CITIGROUP INC SR UNSECURED 05/31 VAR                                                                                                      | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    825000 | PA      | $838858.35    | 0.15%             | 2031-05-07      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                                   | CITIGROUP INC SUBORDINATED 01/36 VAR                                                                                                      | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    275000 | PA      | $283012.13    | 0.05%             | 2036-01-24      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                                               | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2020 EXP2 A3 144A                                                                                     | CUSIP: 17328PAQ6<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |     81883 | PA      | $70911.78     | 0.01%             | 2050-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Civitas Resources Inc                                                           | CIVITAS RESOURCES INC COMPANY GUAR 144A 06/33 9.625                                                                                       | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    375000 | PA      | $395625.00    | 0.07%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Civitas Resources Inc                                                           | CIVITAS RESOURCES INC COMPANY GUAR 144A 07/28 8.375                                                                                       | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    165000 | PA      | $170981.25    | 0.03%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Hardee s Funding LLC                                                            | CKE RESTAURANTS HOLDINGS INC HNGRY 2021 1A A2 144A                                                                                        | CUSIP: 411707AK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196800 | PA      | $182638.17    | 0.03%             | 2051-06-20      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| Hardee s Funding LLC                                                            | CKE RESTAURANTS HOLDINGS INC HNGRY 2024 1A A2 144A                                                                                        | CUSIP: 411707AM4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     99735 | PA      | $103362.58    | 0.02%             | 2054-03-20      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                               | CLARIOS GLOBAL LP 2025 USD TERM LOAN B                                                                                                    | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | CA        |    390000 | PA      | $390000.00    | 0.07%             | 2032-01-28      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP / Clarios US Finance Co                                       | CLARIOS GLOBAL LP/US FIN SR SECURED 144A 02/30 6.75                                                                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    145000 | PA      | $149712.50    | 0.03%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Clarus Capital Funding 2024-1 LLC                                               | CLARUS CAPITAL FUNDING LLC CLARUS 2024 1A A2 144A                                                                                         | CUSIP: 18271JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     76194 | PA      | $76375.56     | 0.01%             | 2032-08-20      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Clarus Capital Funding 2024-1 LLC                                               | CLARUS CAPITAL FUNDING LLC CLARUS 2024 1A B 144A                                                                                          | CUSIP: 18271JAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100213.69    | 0.02%             | 2032-08-20      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                                              | CLEAR CHANNEL OUTDOOR HO COMPANY GUAR 144A 04/28 7.75                                                                                     | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    160000 | PA      | $155200.00    | 0.03%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Clear Channel Outdoor Holdings Inc                                              | CLEAR CHANNEL OUTDOOR HO COMPANY GUAR 144A 06/29 7.5                                                                                      | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    163000 | PA      | $152812.50    | 0.03%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Clear Channel Outdoor Holdings Inc                                              | CLEAR CHANNEL OUTDOOR HO SR SECURED 144A 02/31 7.125                                                                                      | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106312.50    | 0.02%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                                              | CLEAR CHANNEL OUTDOOR HO SR SECURED 144A 03/33 7.5                                                                                        | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81300.00     | 0.01%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                                              | CLEAR CHANNEL OUTDOOR HOLD INC 2024 TERM LOAN                                                                                             | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |    358368 | PA      | $358278.83    | 0.06%             | 2028-08-21      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                        | CLOUD SOFTWARE GROUP INC 2025 TERM LOAN B 2031                                                                                            | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    168980 | PA      | $169367.44    | 0.03%             | 2031-03-24      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                        | CLOUD SOFTWARE GROUP INC 2025 TERM LOAN B 2032                                                                                            | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    420000 | PA      | $420596.40    | 0.08%             | 2032-08-13      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                        | CLOUD SOFTWARE GRP INC SECURED 144A 09/29 9                                                                                               | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    630000 | PA      | $654412.50    | 0.12%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                        | CLOUD SOFTWARE GRP INC SR SECURED 144A 06/32 8.25                                                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    145000 | PA      | $155150.00    | 0.03%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CMG Media Corp                                                                  | CMG MEDIA CORPORATION 2024 TERM LOAN                                                                                                      | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    336649 | PA      | $323014.32    | 0.06%             | 2029-06-18      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| CMG Media Corp                                                                  | CMG MEDIA CORPORATION SECURED 144A 06/29 8.875                                                                                            | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $311131.25    | 0.06%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| Cogentrix Finance Holdco I LLC                                                  | COGENTRIX FINANCE HOLDCO I LLC REPRICED TERM LOAN B                                                                                       | CUSIP: 19239LAC0<br>LEI: 254900V51P55ABN4UU67 | Long             | LON              | CORP              | US        |    169575 | PA      | $169963.33    | 0.03%             | 2032-02-26      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Cologix Canadian Issuer LP                                                      | COLOGIX DATA CENTERS ISSUER LL CLGIX 2022 1CAN A2 144A                                                                                    | CUSIP: 19521DAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |     45000 | PA      | $32172.21     | 0.01%             | 2052-01-25      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| COLT 2025-8 Mortgage Loan Trust                                                 | COLT FUNDING LLC COLT 2025 8 A1 144A                                                                                                      | CUSIP: 19689DAA7<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |    615000 | PA      | $619795.09    | 0.11%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| COLT 2025-INV2 Mortgage Loan Trust                                              | COLT FUNDING LLC COLT 2025 INV2 A3 144A                                                                                                   | CUSIP: 12673UAC8<br>LEI: 213800M5KYYIOHI7KW93 | Long             | ABS-MBS          | CORP              | US        |    538846 | PA      | $542919.88    | 0.10%             | 2070-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                                                    | COMCAST CORP COMPANY GUAR 11/51 2.887                                                                                                     | CUSIP: 20030NDS7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    755000 | PA      | $453467.35    | 0.08%             | 2051-11-01      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| COMM 2016-CR28 Mortgage Trust                                                   | COMM MORTGAGE TRUST COMM 2016 CR28 B                                                                                                      | CUSIP: 12593YBL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40000 | PA      | $39071.45     | 0.01%             | 2049-02-10      | Variable      | 4.74%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                             | COMMONSPIRIT HEALTH SR SECURED 10/30 2.782                                                                                                | CUSIP: 20268JAF0<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |     48000 | PA      | $44373.89     | 0.01%             | 2030-10-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Comstock Resources Inc                                                          | COMSTOCK RESOURCES INC COMPANY GUAR 144A 03/29 6.75                                                                                       | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    230000 | PA      | $226262.50    | 0.04%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                                                              | CONAGRA BRANDS INC SR UNSECURED 08/35 5.75                                                                                                | CUSIP: 205887CL4<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    400000 | PA      | $401874.00    | 0.07%             | 2035-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL                                                              | CONNECT FINCO SARL 2024 EXTENDED TERM LOAN B                                                                                              | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |    163884 | PA      | $161528.72    | 0.03%             | 2029-09-28      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL / Connect US Finco LLC                                       | CONNECT FINCO SARL/CONNE SR SECURED 144A 09/29 9                                                                                          | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    200000 | PA      | $208250.00    | 0.04%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips Co                                                               | CONOCOPHILLIPS COMPANY COMPANY GUAR 01/55 5.5                                                                                             | CUSIP: 20826FBM7<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    240000 | PA      | $225111.12    | 0.04%             | 2055-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips Co                                                               | CONOCOPHILLIPS COMPANY COMPANY GUAR 03/54 5.55                                                                                            | CUSIP: 20826FBG0<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    560000 | PA      | $528433.36    | 0.09%             | 2054-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                                        | CONSTELLATION BRANDS INC SR UNSECURED 05/30 4.8                                                                                           | CUSIP: 21036PBS6<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86333.06     | 0.02%             | 2030-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Continental Resources Inc/OK                                                    | CONTINENTAL RESOURCES COMPANY GUAR 06/44 4.9                                                                                              | CUSIP: 212015AQ4<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |     20000 | PA      | $15705.00     | 0.00%             | 2044-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Cornerstone Generation LLC                                                      | CORNERSTONE GENERATION LLC TERM LOAN B                                                                                                    | CUSIP: 21924NAB4<br>LEI: 254900JBGAU2N55LVN75 | Long             | LON              | CORP              | US        |    300000 | PA      | $301800.00    | 0.05%             | 2031-10-28      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Coterra Energy Inc                                                              | COTERRA ENERGY INC SR UNSECURED 02/35 5.4                                                                                                 | CUSIP: 127097AM5<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169837.14    | 0.03%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CPM Holdings Inc                                                                | CPM HOLDINGS, INC. 2023 TERM LOAN                                                                                                         | CUSIP: 12620BAR1<br>LEI: 549300FBUISJCXV8IB65 | Long             | LON              | CORP              | US        |    169570 | PA      | $165471.12    | 0.03%             | 2028-09-28      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                     | CRESCENT ENERGY FINANCE COMPANY GUAR 144A 01/33 7.375                                                                                     | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    410000 | PA      | $399237.50    | 0.07%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                     | CRESCENT ENERGY FINANCE COMPANY GUAR 144A 04/32 7.625                                                                                     | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    160000 | PA      | $159200.00    | 0.03%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Cross 2024-H6 Mortgage Trust                                                    | CROSS MORTGAGE TRUST CROSS 2024 H6 A1 144A                                                                                                | CUSIP: 227919AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    214830 | PA      | $214642.34    | 0.04%             | 2069-09-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Cross 2025-H4 Mortgage Trust                                                    | CROSS MORTGAGE TRUST CROSS 2025 H4 A1 144A                                                                                                | CUSIP: 22790AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2260997 | PA      | $2282057.93   | 0.41%             | 2070-06-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Cross 2025-H5 Mortgage Trust                                                    | CROSS MORTGAGE TRUST CROSS 2025 H5 A1B 144A                                                                                               | CUSIP: 227920AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    366720 | PA      | $369689.14    | 0.07%             | 2070-07-25      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| Crown Point CLO 7 Ltd                                                           | CROWN POINT CLO 7, LTD CRNPT 2018 7A AR 144A                                                                                              | CUSIP: 22846MAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     86713 | PA      | $86719.67     | 0.02%             | 2031-10-20      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| CSAIL 2016-C6 Commercial Mortgage Trust                                         | CSAIL COMMERCIAL MORTGAGE TRUS CSAIL 2016 C6 A5                                                                                           | CUSIP: 12636MAE8<br>LEI: 549300C2HE5FJAWYZL57 | Long             | ABS-MBS          | CORP              | US        |    113000 | PA      | $111843.09    | 0.02%             | 2049-01-15      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| CSAIL 2019-C18 Commercial Mortgage Trust                                        | CSAIL COMMERCIAL MORTGAGE TRUS CSAIL 2019 C18 C                                                                                           | CUSIP: 12597DAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145000 | PA      | $131076.53    | 0.02%             | 2052-12-15      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                                | CSC HOLDINGS LLC COMPANY GUAR 144A 01/29 11.75                                                                                            | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $183000.00    | 0.03%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                                | CSC HOLDINGS LLC COMPANY GUAR 144A 04/27 5.5                                                                                              | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192500.00    | 0.03%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| CSC Holdings LLC                                                                | CSC HOLDINGS LLC COMPANY GUAR 144A 05/28 11.25                                                                                            | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199500.00    | 0.04%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                                | CSC HOLDINGS, LLC 2019 TERM LOAN B5                                                                                                       | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    442527 | PA      | $432101.41    | 0.08%             | 2027-04-15      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                                | CSC HOLDINGS, LLC 2022 TERM LOAN B6                                                                                                       | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    466293 | PA      | $464469.76    | 0.08%             | 2028-01-18      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                 | CVS HEALTH CORP JR SUBORDINA 03/55 VAR                                                                                                    | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    281000 | PA      | $291389.69    | 0.05%             | 2055-03-10      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                 | CVS HEALTH CORP JR SUBORDINA 12/54 VAR                                                                                                    | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    428000 | PA      | $432431.08    | 0.08%             | 2054-12-10      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                 | CVS HEALTH CORP SR UNSECURED 02/53 5.625                                                                                                  | CUSIP: 126650DV9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    630000 | PA      | $577268.37    | 0.10%             | 2053-02-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                                              | CYRUSONE DATA CENTERS ISSUER I CYRUS 2024 2A A2 144A                                                                                      | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $220960.33    | 0.04%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust 2021-2                                     | DEEPHAVEN RESIDENTIAL MORTGAGE DRMT 2021 2 A3 144A                                                                                        | CUSIP: 24381WAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     43523 | PA      | $38832.53     | 0.01%             | 2066-04-25      | Variable      | 1.26%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust 2024-1                                             | DELL EQUIPMENT FINANCE TRUST DEFT 2024 1 C 144A                                                                                           | CUSIP: 24702GAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1610000 | PA      | $1637552.90   | 0.29%             | 2030-03-22      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust 2024-1                                             | DELL EQUIPMENT FINANCE TRUST DEFT 2024 1 D 144A                                                                                           | CUSIP: 24702GAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101914.68    | 0.02%             | 2030-09-23      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust 2024-2                                             | DELL EQUIPMENT FINANCE TRUST DEFT 2024 2 B 144A                                                                                           | CUSIP: 24704EAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100832.79    | 0.02%             | 2030-08-22      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust 2024-2                                             | DELL EQUIPMENT FINANCE TRUST DEFT 2024 2 D 144A                                                                                           | CUSIP: 24704EAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100923.04    | 0.02%             | 2031-02-24      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | DELTA 2 LUX SARL 2024 TERM LOAN B1                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    130000 | PA      | $129892.10    | 0.02%             | 2031-09-30      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | DELTA 2 LUX SARL 2024 TERM LOAN B2                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |     65000 | PA      | $64946.05     | 0.01%             | 2031-09-30      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Delta Topco Inc                                                                 | DELTA TOPCO, INC 2024 2ND LIEN TERM LOAN                                                                                                  | CUSIP: 24780DAH0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    440000 | PA      | $438900.00    | 0.08%             | 2030-11-29      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| Dext ABS 2025-1 LLC                                                             | DEXT ABS DEXT 2025 1 C 144A                                                                                                               | CUSIP: 252154AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1340000 | PA      | $1364818.54   | 0.24%             | 2035-08-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc                                                          | DIAMONDBACK ENERGY INC COMPANY GUAR 04/34 5.4                                                                                             | CUSIP: 25278XAZ2<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    425000 | PA      | $428786.33    | 0.08%             | 2034-04-18      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc                                                          | DIAMONDBACK ENERGY INC COMPANY GUAR 04/54 5.75                                                                                            | CUSIP: 25278XBA6<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    519000 | PA      | $483019.29    | 0.09%             | 2054-04-18      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC / Directv Financing Co-Obligor Inc                        | DIRECTV FIN LLC/COINC SR SECURED 144A 02/31 10                                                                                            | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $168725.00    | 0.03%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                                           | DIRECTV FINANCING LLC 2025 TERM LOAN B                                                                                                    | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     20000 | PA      | $19440.00     | 0.00%             | 2031-02-18      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                                           | DIRECTV FINANCING LLC SR SECURED 144A 02/30 8.875                                                                                         | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $134156.25    | 0.02%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | DISCO PARENT INC 2025 TERM LOAN B                                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    165000 | PA      | $165825.00    | 0.03%             | 2032-08-01      | Floating      | 7.48%                 | No            |                  3 | On Loan: No      |
| DISH DBS Corp                                                                   | DISH DBS CORP COMPANY GUAR 07/28 7.375                                                                                                    | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $86640.00     | 0.02%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                                                   | DISH DBS CORP SR SECURED 144A 12/26 5.25                                                                                                  | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    320000 | PA      | $310400.00    | 0.06%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                                                   | DISH DBS CORP SR SECURED 144A 12/28 5.75                                                                                                  | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    255000 | PA      | $239700.00    | 0.04%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DISH Network Corp                                                               | DISH NETWORK CORP SR SECURED 144A 11/27 11.75                                                                                             | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79125.00     | 0.01%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| DLLAA 2023-1 LLC                                                                | DLLAA LLC DLLAA 2023 1A A3 144A                                                                                                           | CUSIP: 23292HAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55000 | PA      | $55642.91     | 0.01%             | 2028-02-22      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| DLLAA 2023-1 LLC                                                                | DLLAA LLC DLLAA 2023 1A A4 144A                                                                                                           | CUSIP: 23292HAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $67036.18     | 0.01%             | 2031-10-20      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| DLLST 2024-1 LLC                                                                | DLLST LLC DLLST 2024 1A A4 144A                                                                                                           | CUSIP: 23346HAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40417.73     | 0.01%             | 2030-04-22      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                                       | DRIVEN BRANDS FUNDING, LLC HONK 2019 1A A2 144A                                                                                           | CUSIP: 26208LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    638578 | PA      | $637130.07    | 0.11%             | 2049-04-20      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Dryden 93 CLO Ltd                                                               | DRYDEN SENIOR LOAN FUND DRSLF 2021 93A BR 144A                                                                                            | CUSIP: 26190TAS0<br>LEI: 5493009K6Z2DW3X76185 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250506.17    | 0.04%             | 2038-01-15      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| Dye & Durham Ltd                                                                | DYE + DURHAM LIMITED SR SECURED 144A 04/29 8.625                                                                                          | CUSIP: 267486AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     95000 | PA      | $99275.00     | 0.02%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| EW Scripps Co/The                                                               | E W SCRIPPS COMPANY THE 2025 TERM LOAN B2                                                                                                 | CUSIP: 26928BAQ2<br>LEI: 549300U1OW41QPKYW028 | Long             | LON              | CORP              | US        |    166948 | PA      | $167470.67    | 0.03%             | 2028-06-30      | Floating      | 10.23%                | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                                        | EAGLE FUNDING LUXCO SARL SR UNSECURED 144A 08/30 5.5                                                                                      | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |    590000 | PA      | $598185.07    | 0.11%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EchoStar Corp                                                                   | ECHOSTAR CORP SR SECURED 11/29 10.75                                                                                                      | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    620000 | PA      | $667275.00    | 0.12%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Edelman Financial Engines Center LLC/The                                        | EDELMAN FINANCIAL CENTER LLC 2024 2ND LIEN TERM LOAN                                                                                      | CUSIP: 27943TAC3<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |     25173 | PA      | $25189.21     | 0.00%             | 2028-10-06      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Edgewater Generation LLC                                                        | EDGEWATER GENERATION LLC 2025 REPRICED TERM LOAN                                                                                          | CUSIP: 28031FAM2<br>LEI: 5493004PLDT1L28SWG83 | Long             | LON              | CORP              | US        |    338776 | PA      | $339480.58    | 0.06%             | 2030-08-01      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| EG America LLC                                                                  | EG AMERICA LLC 2025 USD REPRICED TERM LOAN                                                                                                | CUSIP: 000000000<br>LEI: 549300BY1CRYVPEG9R57 | Long             | LON              | CORP              | US        |    264061 | PA      | $265074.68    | 0.05%             | 2028-02-07      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| EG Global Finance PLC                                                           | EG GLOBAL FINANCE PLC SR SECURED 144A 11/28 12                                                                                            | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $221074.80    | 0.04%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Elara HGV Timeshare Issuer 2023-A LLC                                           | ELARA HGV TIMESHARE ISSUER EHGVT 2023 A A 144A                                                                                            | CUSIP: 28415AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     53881 | PA      | $55641.02     | 0.01%             | 2038-02-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Elara HGV Timeshare Issuer 2023-A LLC                                           | ELARA HGV TIMESHARE ISSUER EHGVT 2023 A C 144A                                                                                            | CUSIP: 28415AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     53881 | PA      | $55671.54     | 0.01%             | 2038-02-25      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust 2021-3                                       | ELLINGTON FINANCIAL MORTGAGE T EFMT 2021 3 M1 144A                                                                                        | CUSIP: 31573JAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $139340.46    | 0.02%             | 2066-09-25      | Variable      | 2.53%                 | No            |                  2 | On Loan: No      |
| EFMT 2024-INV2                                                                  | ELLINGTON FINANCIAL MORTGAGE T EFMT 2024 INV2 A1 144A                                                                                     | CUSIP: 26844LAA6<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    878525 | PA      | $875053.60    | 0.16%             | 2069-10-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| EFMT 2024-INV2                                                                  | ELLINGTON FINANCIAL MORTGAGE T EFMT 2024 INV2 A2 144A                                                                                     | CUSIP: 26844LAB4<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |     92966 | PA      | $92757.41     | 0.02%             | 2069-10-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-INV1                                                                  | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 INV1 A1 144A                                                                                     | CUSIP: 26846XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    153960 | PA      | $155222.19    | 0.03%             | 2070-03-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-INV2                                                                  | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 INV2 A1 144A                                                                                     | CUSIP: 281914AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    274738 | PA      | $276242.03    | 0.05%             | 2070-05-26      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-NQM3                                                                  | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 NQM3 A1 144A                                                                                     | CUSIP: 26846YAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1376266 | PA      | $1384123.96   | 0.25%             | 2070-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings Inc                                                           | ELLUCIAN HOLDINGS, INC. 2024 1ST LIEN TERM LOAN B                                                                                         | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    234412 | PA      | $234560.18    | 0.04%             | 2029-10-09      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings Inc                                                           | ELLUCIAN HOLDINGS, INC. 2024 2ND LIEN TERM LOAN                                                                                           | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    446017 | PA      | $458282.70    | 0.08%             | 2032-11-22      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Engie SA                                                                        | ENGIE SA SR UNSECURED 144A 04/34 5.625                                                                                                    | CUSIP: 29286DAB1<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    800000 | PA      | $829304.80    | 0.15%             | 2034-04-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Engineered Machinery Holdings Inc                                               | ENGINEERED MACHINERY HLGS INC 2021 USD 2ND LI INCR TL                                                                                     | CUSIP: 26658NAN9<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |    269208 | PA      | $269208.08    | 0.05%             | 2029-05-21      | Floating      | 11.06%                | No            |                  2 | On Loan: No      |
| Engineered Machinery Holdings Inc                                               | ENGINEERED MACHINERY HOLD INC 2021 USD 2ND LIEN TL                                                                                        | CUSIP: 26658NAQ2<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |    285960 | PA      | $285960.02    | 0.05%             | 2029-05-21      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing 2023-1 LLC                                           | ENTERPRISE FLEET FINANCING LLC EFF 2023 1 A3 144A                                                                                         | CUSIP: 29375CAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101326.52    | 0.02%             | 2029-10-22      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing 2025-3 LLC                                           | ENTERPRISE FLEET FINANCING LLC EFF 2025 3 A3 144A                                                                                         | CUSIP: 29375UAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $217183.88    | 0.04%             | 2029-09-20      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                                                | EOC BORROWER LLC TERM LOAN B                                                                                                              | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    240000 | PA      | $240400.80    | 0.04%             | 2032-03-24      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Epicor Software Corp                                                            | EPICOR SOFTWARE CORPORATION 2024 TERM LOAN F                                                                                              | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |    390131 | PA      | $390950.56    | 0.07%             | 2031-05-30      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | EURO-BOBL FUTURE  SEP25 XEUR 20250908                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | DE        |        -8 | NC      | $6727.21      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | EURO-BTP FUTURE   SEP25 XEUR 20250908                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | DE        |         4 | NC      | $-3124.85     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | EURO-BUND FUTURE  SEP25 XEUR 20250908                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | DE        |       -53 | NC      | $-15752.21    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | EURO-OAT FUTURE   SEP25 XEUR 20250908                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | DE        |         4 | NC      | $-2860.26     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | EURO-SCHATZ FUT   SEP25 XEUR 20250908                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | DE        |       -21 | NC      | $8655.60      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EW Scripps Co/The                                                               | EW SCRIPPS CO SR SECURED 144A 08/30 9.875                                                                                                 | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |    280000 | PA      | $262500.00    | 0.05%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| EW Scripps Co/The                                                               | EW SCRIPPS COMPANY THE 2025 TERM LOAN B3                                                                                                  | CUSIP: 26928BAR0<br>LEI: 549300U1OW41QPKYW028 | Long             | LON              | CORP              | US        |    253756 | PA      | $244240.43    | 0.04%             | 2029-11-30      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2023-1                                      | EXETER AUTOMOBILE RECEIVABLES EART 2023 1A D                                                                                              | CUSIP: 30168BAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5000 | PA      | $5096.38      | 0.00%             | 2029-06-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2023-4                                      | EXETER AUTOMOBILE RECEIVABLES EART 2023 4A B                                                                                              | CUSIP: 30166TAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4862 | PA      | $4865.67      | 0.00%             | 2027-10-15      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2025-2                                      | EXETER AUTOMOBILE RECEIVABLES EART 2025 2A B                                                                                              | CUSIP: 30168JAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $787959.04    | 0.14%             | 2029-09-17      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2025-4                                      | EXETER AUTOMOBILE RECEIVABLES EART 2025 4A B                                                                                              | CUSIP: 30167KAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    190000 | PA      | $190604.07    | 0.03%             | 2030-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2025-4                                      | EXETER AUTOMOBILE RECEIVABLES EART 2025 4A C                                                                                              | CUSIP: 30167KAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    685000 | PA      | $687668.62    | 0.12%             | 2031-06-16      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust 2025-2                               | EXETER SELECT AUTOMOBILE RECEI ESART 2025 2 B                                                                                             | CUSIP: 30185EAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180000 | PA      | $181506.92    | 0.03%             | 2031-11-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust 2025-2                               | EXETER SELECT AUTOMOBILE RECEI ESART 2025 2 C                                                                                             | CUSIP: 30185EAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    435000 | PA      | $438780.11    | 0.08%             | 2031-12-15      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                                              | EXPAND ENERGY CORP COMPANY GUAR 02/32 4.75                                                                                                | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    190000 | PA      | $184419.70    | 0.03%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2022-R07                                    | FANNIE MAE   CAS CAS 2022 R07 1M1 144A                                                                                                    | CUSIP: 20754MBZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    398028 | PA      | $407205.15    | 0.07%             | 2042-06-25      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2023-R07                                    | FANNIE MAE   CAS CAS 2023 R07 2M1 144A                                                                                                    | CUSIP: 20753BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    239360 | PA      | $240855.80    | 0.04%             | 2043-09-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Series 2025-R01                                   | FANNIE MAE   CAS CAS 2025 R01 1M1 144A                                                                                                    | CUSIP: 20755JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    828565 | PA      | $829085.42    | 0.15%             | 2045-01-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2025-R02                                    | FANNIE MAE   CAS CAS 2025 R02 1A1 144A                                                                                                    | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1331775 | PA      | $1333102.97   | 0.24%             | 2045-02-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2025-R05                                    | FANNIE MAE   CAS CAS 2025 R05 2M1 144A                                                                                                    | CUSIP: 20753CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    362507 | PA      | $363450.88    | 0.06%             | 2045-07-25      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae REMICS                                                               | FANNIE MAE FNR 2020 75 BI                                                                                                                 | CUSIP: 3136BCJH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5033187 | PA      | $681273.01    | 0.12%             | 2050-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae REMICS                                                               | FANNIE MAE FNR 2020 89 DI                                                                                                                 | CUSIP: 3136BCD80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6422932 | PA      | $1027319.79   | 0.18%             | 2050-12-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae REMICS                                                               | FANNIE MAE FNR 2020 97 AI                                                                                                                 | CUSIP: 3136BDEF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3063635 | PA      | $431750.10    | 0.08%             | 2051-01-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae REMICS                                                               | FANNIE MAE FNR 2023 2 DI                                                                                                                  | CUSIP: 3136BPUZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    882303 | PA      | $116328.02    | 0.02%             | 2051-05-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QC8491 FR 10/51 FIXED 2.5                                                                                               | CUSIP: 3133ATNG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    108295 | PA      | $91662.87     | 0.02%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QD8674 FR 03/52 FIXED 3                                                                                                 | CUSIP: 3133B6T75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    622166 | PA      | $544534.73    | 0.10%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QI9074 FR 06/54 FIXED 6                                                                                                 | CUSIP: 3133WGCK9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     24111 | PA      | $24758.24     | 0.00%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QJ3040 FR 09/54 FIXED 5.5                                                                                               | CUSIP: 3133CTLV9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     70986 | PA      | $71688.54     | 0.01%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QJ4230 FR 09/54 FIXED 6.5                                                                                               | CUSIP: 3133CUVX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    274496 | PA      | $285557.44    | 0.05%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QJ5643 FR 09/54 FIXED 6.5                                                                                               | CUSIP: 3133CWHU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     34918 | PA      | $36272.82     | 0.01%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QJ5819 FR 09/54 FIXED 6.5                                                                                               | CUSIP: 3133CWPC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     11041 | PA      | $11487.77     | 0.00%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QN8025 FR 10/36 FIXED 2.5                                                                                               | CUSIP: 3133GE4J4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     55153 | PA      | $51868.87     | 0.01%             | 2036-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QX0557 FR 12/54 FIXED 6.5                                                                                               | CUSIP: 31425UTP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     25531 | PA      | $26459.19     | 0.00%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QX1253 FR 12/54 FIXED 6                                                                                                 | CUSIP: 31425VMB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    975338 | PA      | $1000206.03   | 0.18%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QX2526 FR 01/55 FIXED 6.5                                                                                               | CUSIP: 31425WYY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     37699 | PA      | $39087.00     | 0.01%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QX3636 FR 01/55 FIXED 6.5                                                                                               | CUSIP: 31425YBE6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     12728 | PA      | $13190.30     | 0.00%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QY2115 FR 05/55 FIXED 6                                                                                                 | CUSIP: 31426LK52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    105473 | PA      | $108029.34    | 0.02%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL QY4616 FR 06/55 FIXED 6                                                                                                 | CUSIP: 31426PDW2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    423162 | PA      | $433109.32    | 0.08%             | 2055-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA3046 FR 07/50 FIXED 2                                                                                                 | CUSIP: 3133KJL34<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1855620 | PA      | $1495834.23   | 0.27%             | 2050-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA5258 FR 05/51 FIXED 2                                                                                                 | CUSIP: 3133KLZX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     43293 | PA      | $34632.22     | 0.01%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA5561 FR 07/51 FIXED 2                                                                                                 | CUSIP: 3133KMFA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     92337 | PA      | $74430.97     | 0.01%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA5680 FR 08/51 FIXED 2                                                                                                 | CUSIP: 3133KMJZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     23843 | PA      | $19063.20     | 0.00%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA5714 FR 03/52 FIXED 2                                                                                                 | CUSIP: 3133KMK38<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    599636 | PA      | $483897.18    | 0.09%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA6019 FR 10/51 FIXED 2.5                                                                                               | CUSIP: 3133KMVL6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     23873 | PA      | $19985.59     | 0.00%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA6623 FR 01/52 FIXED 2.5                                                                                               | CUSIP: 3133KNLC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     43692 | PA      | $36824.46     | 0.01%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA6766 FR 02/52 FIXED 2.5                                                                                               | CUSIP: 3133KNQT3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    440180 | PA      | $371254.58    | 0.07%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA6815 FR 02/52 FIXED 2.5                                                                                               | CUSIP: 3133KNSC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2889020 | PA      | $2424162.46   | 0.43%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA6962 FR 03/52 FIXED 2.5                                                                                               | CUSIP: 3133KNWX7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    984264 | PA      | $828691.82    | 0.15%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA7554 FR 06/52 FIXED 4                                                                                                 | CUSIP: 3133KPMB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    201021 | PA      | $188093.65    | 0.03%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RA8551 FR 02/53 FIXED 6                                                                                                 | CUSIP: 3133KQQC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1393921 | PA      | $1437965.09   | 0.26%             | 2053-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RB5107 FR 04/41 FIXED 1.5                                                                                               | CUSIP: 3133KYU80<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     53458 | PA      | $44475.86     | 0.01%             | 2041-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RB5148 FR 03/42 FIXED 2                                                                                                 | CUSIP: 3133KYWH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    224562 | PA      | $191672.66    | 0.03%             | 2042-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Pool                                                                | FED HM LN PC POOL RB5154 FR 04/42 FIXED 2.5                                                                                               | CUSIP: 3133KYWP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76368 | PA      | $67331.31     | 0.01%             | 2042-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RJ1716 FR 06/54 FIXED 6                                                                                                 | CUSIP: 3142GR4A5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    124355 | PA      | $127810.73    | 0.02%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RJ1859 FR 06/54 FIXED 6                                                                                                 | CUSIP: 3142GSB56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    101745 | PA      | $104396.45    | 0.02%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RJ1975 FR 07/54 FIXED 6                                                                                                 | CUSIP: 3142GSFR4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     51583 | PA      | $52917.80     | 0.01%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL RJ2623 FR 10/54 FIXED 5.5                                                                                               | CUSIP: 3142GS4H8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     64509 | PA      | $65471.08     | 0.01%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SB0217 FR 01/33 FIXED 3                                                                                                 | CUSIP: 3132CWG24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     39909 | PA      | $38895.47     | 0.01%             | 2033-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SB8189 FR 11/37 FIXED 4                                                                                                 | CUSIP: 3132D6C24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    163708 | PA      | $160904.34    | 0.03%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SB8215 FR 03/38 FIXED 4                                                                                                 | CUSIP: 3132D6DU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     78273 | PA      | $76860.57     | 0.01%             | 2038-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SC0329 FR 02/40 FIXED 3                                                                                                 | CUSIP: 3132D9LJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    207387 | PA      | $194665.01    | 0.03%             | 2040-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD0784 FR 12/51 FIXED 2                                                                                                 | CUSIP: 3132DM2R5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    285661 | PA      | $229440.87    | 0.04%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD0922 FR 03/52 FIXED 2.5                                                                                               | CUSIP: 3132DNAX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3870388 | PA      | $3261251.64   | 0.58%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD1116 FR 06/52 FIXED 3.5                                                                                               | CUSIP: 3132DNGZ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    506028 | PA      | $459787.37    | 0.08%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD1266 FR 06/52 FIXED 3                                                                                                 | CUSIP: 3132DNMP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     67018 | PA      | $58675.63     | 0.01%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD1840 FR 06/52 FIXED 3                                                                                                 | CUSIP: 3132DPBH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    139720 | PA      | $122326.82    | 0.02%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD2666 FR 03/53 FIXED 5                                                                                                 | CUSIP: 3132DP6B9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     60943 | PA      | $60669.20     | 0.01%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD3041 FR 05/53 FIXED 5                                                                                                 | CUSIP: 3132DQLW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     30366 | PA      | $30086.76     | 0.01%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD3580 FR 04/52 FIXED 2                                                                                                 | CUSIP: 3132DQ6R2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     55318 | PA      | $44297.48     | 0.01%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD3630 FR 08/53 FIXED 5.5                                                                                               | CUSIP: 3132E0A77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    216555 | PA      | $219698.65    | 0.04%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD4653 FR 07/53 FIXED 5                                                                                                 | CUSIP: 3132DSE24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    194606 | PA      | $193069.71    | 0.03%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD4967 FR 02/54 FIXED 5.5                                                                                               | CUSIP: 3132DSQU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     54331 | PA      | $55049.98     | 0.01%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD4999 FR 08/53 FIXED 5                                                                                                 | CUSIP: 3132DSRU8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1894935 | PA      | $1872064.13   | 0.33%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD5565 FR 05/54 FIXED 5.5                                                                                               | CUSIP: 3132DTFE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     42580 | PA      | $43231.69     | 0.01%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD5865 FR 08/54 FIXED 5.5                                                                                               | CUSIP: 3132DTQS2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1137690 | PA      | $1146086.68   | 0.20%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6048 FR 07/54 FIXED 6                                                                                                 | CUSIP: 3132DTWH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    363281 | PA      | $376048.12    | 0.07%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6155 FR 08/54 FIXED 5.5                                                                                               | CUSIP: 3132DTZU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    563087 | PA      | $569664.69    | 0.10%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6382 FR 07/54 FIXED 5                                                                                                 | CUSIP: 3132DUCT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     63012 | PA      | $62237.67     | 0.01%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6569 FR 10/54 FIXED 5.5                                                                                               | CUSIP: 3132DUJN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     81430 | PA      | $82408.18     | 0.01%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6638 FR 10/54 FIXED 5.5                                                                                               | CUSIP: 3132DULT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     66924 | PA      | $67707.39     | 0.01%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6767 FR 10/54 FIXED 6                                                                                                 | CUSIP: 3132DUQU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    448198 | PA      | $458812.79    | 0.08%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6891 FR 10/54 FIXED 6                                                                                                 | CUSIP: 3132DUUQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    313122 | PA      | $321536.66    | 0.06%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6907 FR 12/54 FIXED 5                                                                                                 | CUSIP: 3132DUU88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    842313 | PA      | $832108.10    | 0.15%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD6963 FR 10/52 FIXED 4                                                                                                 | CUSIP: 3132DUWY9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    367095 | PA      | $343827.96    | 0.06%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD7231 FR 12/54 FIXED 5.5                                                                                               | CUSIP: 3132DVA88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    386184 | PA      | $390205.96    | 0.07%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD7265 FR 10/54 FIXED 6.5                                                                                               | CUSIP: 3132DVCA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1753046 | PA      | $1822176.95   | 0.33%             | 2054-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD7360 FR 10/54 FIXED 6                                                                                                 | CUSIP: 3132DVE92<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    184589 | PA      | $188927.49    | 0.03%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD7362 FR 09/54 FIXED 5.5                                                                                               | CUSIP: 3132DVFB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1198189 | PA      | $1217186.58   | 0.22%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD7553 FR 03/52 FIXED 3                                                                                                 | CUSIP: 3132DVMA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2659342 | PA      | $2341642.92   | 0.42%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8005 FR 08/49 FIXED 3.5                                                                                               | CUSIP: 3132DV3N3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    341519 | PA      | $312195.10    | 0.06%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8167 FR 09/51 FIXED 2.5                                                                                               | CUSIP: 3132DWCC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    113341 | PA      | $94291.91     | 0.02%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8194 FR 02/52 FIXED 2.5                                                                                               | CUSIP: 3132DWC76<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1092721 | PA      | $911482.77    | 0.16%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8199 FR 03/52 FIXED 2                                                                                                 | CUSIP: 3132DWDC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3104069 | PA      | $2471442.06   | 0.44%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8205 FR 04/52 FIXED 2.5                                                                                               | CUSIP: 3132DWDJ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    632839 | PA      | $527577.51    | 0.09%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8266 FR 11/52 FIXED 4.5                                                                                               | CUSIP: 3132DWFF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    213318 | PA      | $206422.61    | 0.04%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8267 FR 11/52 FIXED 5                                                                                                 | CUSIP: 3132DWFG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    113732 | PA      | $112816.46    | 0.02%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8299 FR 02/53 FIXED 5                                                                                                 | CUSIP: 3132DWGG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1066534 | PA      | $1053002.36   | 0.19%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8365 FR 10/53 FIXED 4.5                                                                                               | CUSIP: 3132DWJJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    665321 | PA      | $640333.15    | 0.11%             | 2053-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SD8507 FR 02/55 FIXED 6                                                                                                 | CUSIP: 3132DWNY5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    642633 | PA      | $656654.77    | 0.12%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SL0284 FR 02/55 FIXED 5.5                                                                                               | CUSIP: 31427MJ69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    234095 | PA      | $235727.83    | 0.04%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SL0401 FR 02/52 FIXED 2.5                                                                                               | CUSIP: 31427MNT4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1241649 | PA      | $1045406.42   | 0.19%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL SL0616 FR 03/55 FIXED 6                                                                                                 | CUSIP: 31427MVJ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    133451 | PA      | $136915.54    | 0.02%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL ZA5029 FR 10/47 FIXED 3.5                                                                                               | CUSIP: 31329NSS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    593905 | PA      | $548119.66    | 0.10%             | 2047-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FED HM LN PC POOL ZT0536 FR 03/48 FIXED 3.5                                                                                               | CUSIP: 3132ACSZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    210584 | PA      | $194492.46    | 0.03%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Brazilian Government International Bond                                         | FED REPUBLIC OF BRAZIL SR UNSECURED 11/30 5.5                                                                                             | CUSIP: 105756CM0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1400000 | PA      | $1428000.00   | 0.25%             | 2030-11-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Filtration Group Corp                                                           | FILTRATION GROUP CORPORATION 2025 USD TERM LOAN                                                                                           | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |    623706 | PA      | $626175.44    | 0.11%             | 2028-10-23      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Finance of America HECM Buyout 2024-HB1                                         | FINANCE OF AMERICA HECM BUYOUT FAHB 2024 HB1 A1A 144A                                                                                     | CUSIP: 31737DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145953 | PA      | $145292.38    | 0.03%             | 2034-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                                                                | FIRSTENERGY CORP SR UNSECURED 03/30 2.65                                                                                                  | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    390000 | PA      | $361934.82    | 0.06%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                                                                | FIRSTENERGY CORP SR UNSECURED 09/30 2.25                                                                                                  | CUSIP: 337932AP2<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     74000 | PA      | $66435.72     | 0.01%             | 2030-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Transmission LLC                                                    | FIRSTENERGY TRANSMISSION SR UNSECURED 01/35 5                                                                                             | CUSIP: 33767BAH2<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149497.35    | 0.03%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes 2020-SFR1 Trust                                                  | FIRSTKEY HOMES 2020 SFR1 TRUST FKH 2020 SFR1 B 144A                                                                                       | CUSIP: 33767MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $124711.39    | 0.02%             | 2037-08-17      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes 2020-SFR2 Trust                                                  | FIRSTKEY HOMES TRUST FKH 2020 SFR2 B 144A                                                                                                 | CUSIP: 33767JAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290000 | PA      | $287853.30    | 0.05%             | 2037-10-19      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes 2020-SFR2 Trust                                                  | FIRSTKEY HOMES TRUST FKH 2020 SFR2 C 144A                                                                                                 | CUSIP: 33767JAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    340000 | PA      | $337398.49    | 0.06%             | 2037-10-19      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes 2020-SFR2 Trust                                                  | FIRSTKEY HOMES TRUST FKH 2020 SFR2 D 144A                                                                                                 | CUSIP: 33767JAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    505000 | PA      | $501130.59    | 0.09%             | 2037-10-19      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Five Corners Funding Trust II                                                   | FIVE CORNERS FND TR II SR UNSECURED 144A 05/30 2.85                                                                                       | CUSIP: 33834DAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $187090.20    | 0.03%             | 2030-05-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Flutter Treasury DAC                                                            | FLUTTER TREASURY DAC SR SECURED 144A 06/31 5.875                                                                                          | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    245000 | PA      | $249987.96    | 0.04%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL AS8946 FN 03/47 FIXED 3.5                                                                                                       | CUSIP: 3138WJ5G9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     61532 | PA      | $56893.64     | 0.01%             | 2047-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL BM5109 FN 12/32 FIXED VAR                                                                                                       | CUSIP: 3140J9VB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    115818 | PA      | $113197.98    | 0.02%             | 2032-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL BR2935 FN 03/36 FIXED 1.5                                                                                                       | CUSIP: 3140L1HM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     38402 | PA      | $34414.27     | 0.01%             | 2036-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL BU5836 FN 11/51 FIXED 2                                                                                                         | CUSIP: 3140M7PW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    133605 | PA      | $107818.65    | 0.02%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL BY4131 FN 07/53 FIXED 5                                                                                                         | CUSIP: 3140NLSV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     39999 | PA      | $39531.19     | 0.01%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CA1354 FN 03/48 FIXED 3.5                                                                                                       | CUSIP: 3140Q8QG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     31401 | PA      | $28917.27     | 0.01%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CA1951 FN 07/48 FIXED 4                                                                                                         | CUSIP: 3140Q9EZ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     46832 | PA      | $44563.82     | 0.01%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CA2639 FN 11/48 FIXED 4.5                                                                                                       | CUSIP: 3140Q94Z3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    269166 | PA      | $263331.58    | 0.05%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CA4628 FN 11/49 FIXED 4                                                                                                         | CUSIP: 3140QCEA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     77160 | PA      | $73149.86     | 0.01%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CA5466 FN 04/35 FIXED 3                                                                                                         | CUSIP: 3140QDCC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    113084 | PA      | $109345.54    | 0.02%             | 2035-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB0511 FN 05/51 FIXED 2.5                                                                                                       | CUSIP: 3140QKR91<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    733148 | PA      | $614854.71    | 0.11%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB1109 FN 07/51 FIXED 2                                                                                                         | CUSIP: 3140QLGT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    852793 | PA      | $685116.68    | 0.12%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB1371 FN 08/51 FIXED 2.5                                                                                                       | CUSIP: 3140QLQZ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     39892 | PA      | $33505.29     | 0.01%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB1624 FN 09/51 FIXED 2.5                                                                                                       | CUSIP: 3140QLYW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    122880 | PA      | $103052.64    | 0.02%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB1783 FN 10/51 FIXED 2.5                                                                                                       | CUSIP: 3140QL6V3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     37235 | PA      | $31316.49     | 0.01%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB2086 FN 11/51 FIXED 2.5                                                                                                       | CUSIP: 3140QMJ88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    145819 | PA      | $122289.09    | 0.02%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB2357 FN 12/51 FIXED 2                                                                                                         | CUSIP: 3140QMTP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    117976 | PA      | $94804.97     | 0.02%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB2538 FN 01/52 FIXED 2.5                                                                                                       | CUSIP: 3140QMZC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     39988 | PA      | $33726.24     | 0.01%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB2848 FN 02/52 FIXED 2                                                                                                         | CUSIP: 3140QNEW8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    204532 | PA      | $164865.14    | 0.03%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB2869 FN 02/52 FIXED 2.5                                                                                                       | CUSIP: 3140QNFK3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     18760 | PA      | $15771.98     | 0.00%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB3115 FN 03/52 FIXED 3                                                                                                         | CUSIP: 3140QNN99<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     54372 | PA      | $47826.96     | 0.01%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB3159 FN 03/52 FIXED 2.5                                                                                                       | CUSIP: 3140QNQM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    117351 | PA      | $98379.10     | 0.02%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB3254 FN 03/52 FIXED 3.5                                                                                                       | CUSIP: 3140QNTL6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1482506 | PA      | $1355997.13   | 0.24%             | 2052-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB3777 FN 05/52 FIXED 3.5                                                                                                       | CUSIP: 3140QPFT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    310403 | PA      | $283099.73    | 0.05%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB4115 FN 07/52 FIXED 3.5                                                                                                       | CUSIP: 3140QPSD0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    441019 | PA      | $398683.96    | 0.07%             | 2052-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB5306 FN 12/52 FIXED 6                                                                                                         | CUSIP: 3140QQ3Q6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    205982 | PA      | $213119.88    | 0.04%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB5545 FN 01/53 FIXED 6.5                                                                                                       | CUSIP: 3140QRET6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    140780 | PA      | $147525.92    | 0.03%             | 2053-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB7095 FN 09/53 FIXED 5                                                                                                         | CUSIP: 3140QS3D1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     40641 | PA      | $40357.90     | 0.01%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB7120 FN 09/53 FIXED 6                                                                                                         | CUSIP: 3140QS4E8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    313337 | PA      | $320892.08    | 0.06%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB7333 FN 10/53 FIXED 5.5                                                                                                       | CUSIP: 3140QTEF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     45162 | PA      | $45852.89     | 0.01%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB7523 FN 11/53 FIXED 6.5                                                                                                       | CUSIP: 3140QTLD9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     60095 | PA      | $62537.62     | 0.01%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB7982 FN 02/54 FIXED 5.5                                                                                                       | CUSIP: 3140QT2Q1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     40233 | PA      | $40765.39     | 0.01%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB8226 FN 03/54 FIXED 6.5                                                                                                       | CUSIP: 3140QUD86<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       744 | PA      | $776.00       | 0.00%             | 2054-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB8483 FN 05/54 FIXED 5.5                                                                                                       | CUSIP: 3140QUM94<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     12217 | PA      | $12403.72     | 0.00%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB8485 FN 05/54 FIXED 5.5                                                                                                       | CUSIP: 3140QUNB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     56521 | PA      | $57051.71     | 0.01%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB8755 FN 06/54 FIXED 6                                                                                                         | CUSIP: 3140QUWR3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    243836 | PA      | $251198.04    | 0.04%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB8851 FN 07/54 FIXED 6                                                                                                         | CUSIP: 3140QUZR0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    379393 | PA      | $391909.25    | 0.07%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB8858 FN 07/54 FIXED 6                                                                                                         | CUSIP: 3140QUZY5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     34199 | PA      | $35166.95     | 0.01%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB9011 FN 08/54 FIXED 6                                                                                                         | CUSIP: 3140QVAM6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    141129 | PA      | $145212.90    | 0.03%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB9328 FN 10/54 FIXED 5.5                                                                                                       | CUSIP: 3140QVLJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    135338 | PA      | $137329.60    | 0.02%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CB9649 FN 12/54 FIXED 5                                                                                                         | CUSIP: 3140QVWK6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1101682 | PA      | $1091408.00   | 0.19%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL CC0603 FN 06/55 FIXED 6.5                                                                                                       | CUSIP: 3140Y6U57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    488105 | PA      | $507117.75    | 0.09%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL DC8257 FN 01/55 FIXED 5.5                                                                                                       | CUSIP: 3140AWE70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    684633 | PA      | $692853.90    | 0.12%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL DE2698 FN 07/55 FIXED 6.5                                                                                                       | CUSIP: 3140BE7L6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     99828 | PA      | $104052.05    | 0.02%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FA0048 FN 09/53 FIXED VAR                                                                                                       | CUSIP: 3140W0BS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      6609 | PA      | $6710.25      | 0.00%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FA0116 FN 08/53 FIXED VAR                                                                                                       | CUSIP: 3140W0DW2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    691945 | PA      | $631559.82    | 0.11%             | 2053-08-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FA0261 FN 01/37 FIXED VAR                                                                                                       | CUSIP: 3140W0JF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    122259 | PA      | $120013.87    | 0.02%             | 2037-01-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FA0436 FN 06/52 FIXED VAR                                                                                                       | CUSIP: 3140W0PW9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    959555 | PA      | $839476.11    | 0.15%             | 2052-06-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FA0522 FN 08/52 FIXED VAR                                                                                                       | CUSIP: 3140W0SL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1196792 | PA      | $1055014.91   | 0.19%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM3340 FN 05/35 FIXED VAR                                                                                                       | CUSIP: 3140X6WA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     64091 | PA      | $63055.25     | 0.01%             | 2035-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM4386 FN 07/47 FIXED VAR                                                                                                       | CUSIP: 3140X72U2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      9962 | PA      | $10149.10     | 0.00%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM5940 FN 02/51 FIXED VAR                                                                                                       | CUSIP: 3140X9S63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    167970 | PA      | $135399.27    | 0.02%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM6004 FN 02/51 FIXED VAR                                                                                                       | CUSIP: 3140X9U60<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    162308 | PA      | $130835.94    | 0.02%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM6264 FN 02/36 FIXED VAR                                                                                                       | CUSIP: 3140X96A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    875639 | PA      | $844857.01    | 0.15%             | 2036-02-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM6627 FN 09/49 FIXED VAR                                                                                                       | CUSIP: 3140XALH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     25452 | PA      | $24894.39     | 0.00%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM7514 FN 06/51 FIXED VAR                                                                                                       | CUSIP: 3140XBK41<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    220877 | PA      | $186373.44    | 0.03%             | 2051-06-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM8543 FN 11/44 FIXED VAR                                                                                                       | CUSIP: 3140XCP51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     24695 | PA      | $25152.23     | 0.00%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM8732 FN 09/36 FIXED VAR                                                                                                       | CUSIP: 3140XCV21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     41381 | PA      | $38133.40     | 0.01%             | 2036-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM8961 FN 09/49 FIXED VAR                                                                                                       | CUSIP: 3140XC5X2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     53025 | PA      | $53352.33     | 0.01%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM9489 FN 11/51 FIXED VAR                                                                                                       | CUSIP: 3140XDRK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     25135 | PA      | $20261.02     | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM9704 FN 12/51 FIXED VAR                                                                                                       | CUSIP: 3140XDYA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     54412 | PA      | $43859.68     | 0.01%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FM9806 FN 12/51 FIXED VAR                                                                                                       | CUSIP: 3140XD3Q7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    206411 | PA      | $173413.05    | 0.03%             | 2051-12-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS0017 FN 08/47 FIXED VAR                                                                                                       | CUSIP: 3140XFAT8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     25018 | PA      | $23838.01     | 0.00%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS0348 FN 01/52 FIXED VAR                                                                                                       | CUSIP: 3140XFL66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    151658 | PA      | $122389.33    | 0.02%             | 2052-01-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS0427 FN 02/37 FIXED VAR                                                                                                       | CUSIP: 3140XFPM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    122861 | PA      | $112757.20    | 0.02%             | 2037-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS0733 FN 02/52 FIXED VAR                                                                                                       | CUSIP: 3140XFY70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     26074 | PA      | $21041.89     | 0.00%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS0838 FN 01/52 FIXED VAR                                                                                                       | CUSIP: 3140XF4Y4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     16069 | PA      | $14714.68     | 0.00%             | 2052-01-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS1618 FN 03/52 FIXED VAR                                                                                                       | CUSIP: 3140XGYQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     13238 | PA      | $10682.95     | 0.00%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS2037 FN 05/37 FIXED VAR                                                                                                       | CUSIP: 3140XHHP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    659656 | PA      | $589638.74    | 0.11%             | 2037-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS2041 FN 08/51 FIXED VAR                                                                                                       | CUSIP: 3140XHHT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     51635 | PA      | $41298.93     | 0.01%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS2477 FN 05/52 FIXED VAR                                                                                                       | CUSIP: 3140XHXF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    110894 | PA      | $93444.65     | 0.02%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS3820 FN 01/53 FIXED VAR                                                                                                       | CUSIP: 3140XKG61<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     40075 | PA      | $41482.06     | 0.01%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS3874 FN 02/50 FIXED VAR                                                                                                       | CUSIP: 3140XKJU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     85109 | PA      | $83384.02     | 0.01%             | 2050-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS3956 FN 10/50 FIXED VAR                                                                                                       | CUSIP: 3140XKME7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    103609 | PA      | $101380.49    | 0.02%             | 2050-10-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS5046 FN 02/52 FIXED VAR                                                                                                       | CUSIP: 3140XLTC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     89242 | PA      | $74816.26     | 0.01%             | 2052-02-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS5191 FN 08/42 FIXED VAR                                                                                                       | CUSIP: 3140XLXV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     99431 | PA      | $85423.04     | 0.02%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS5342 FN 07/53 FIXED VAR                                                                                                       | CUSIP: 3140XL5C8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    106300 | PA      | $107843.05    | 0.02%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS5460 FN 05/53 FIXED VAR                                                                                                       | CUSIP: 3140XMB62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     73111 | PA      | $75558.61     | 0.01%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS6257 FN 06/53 FIXED VAR                                                                                                       | CUSIP: 3140XM5T9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    726662 | PA      | $679932.03    | 0.12%             | 2053-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS6997 FN 03/52 FIXED VAR                                                                                                       | CUSIP: 3140XNX33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    301369 | PA      | $263653.08    | 0.05%             | 2052-03-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS7058 FN 01/54 FIXED VAR                                                                                                       | CUSIP: 3140XNZY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    122088 | PA      | $101484.43    | 0.02%             | 2054-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS7303 FN 07/53 FIXED VAR                                                                                                       | CUSIP: 3140XPDH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     61652 | PA      | $60923.66     | 0.01%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS8081 FN 10/53 FIXED VAR                                                                                                       | CUSIP: 3140XP6T1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    959396 | PA      | $968972.68    | 0.17%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS8793 FN 08/54 FIXED VAR                                                                                                       | CUSIP: 3140XQXX0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     65035 | PA      | $66452.40     | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS9443 FN 02/54 FIXED VAR                                                                                                       | CUSIP: 3140XRP58<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     54494 | PA      | $52471.10     | 0.01%             | 2054-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS9627 FN 09/54 FIXED VAR                                                                                                       | CUSIP: 3140XRVV4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    513630 | PA      | $533954.30    | 0.10%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL FS9713 FN 06/42 FIXED VAR                                                                                                       | CUSIP: 3140XRYK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    162697 | PA      | $156680.01    | 0.03%             | 2042-06-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA2863 FN 01/47 FIXED 3                                                                                                         | CUSIP: 31418CFD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     19455 | PA      | $17366.33     | 0.00%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA3027 FN 06/47 FIXED 4                                                                                                         | CUSIP: 31418CLH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     26270 | PA      | $25106.60     | 0.00%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA3058 FN 07/47 FIXED 4                                                                                                         | CUSIP: 31418CMG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    108993 | PA      | $103764.48    | 0.02%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA3151 FN 10/37 FIXED 3                                                                                                         | CUSIP: 31418CQD9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     60307 | PA      | $56776.03     | 0.01%             | 2037-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA3182 FN 11/47 FIXED 3.5                                                                                                       | CUSIP: 31418CRC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     18844 | PA      | $17378.51     | 0.00%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4158 FN 10/50 FIXED 2                                                                                                         | CUSIP: 31418DTQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     15906 | PA      | $12757.42     | 0.00%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4208 FN 12/50 FIXED 2                                                                                                         | CUSIP: 31418DVA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    429539 | PA      | $344414.35    | 0.06%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4237 FN 01/51 FIXED 2                                                                                                         | CUSIP: 31418DV74<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    761036 | PA      | $610058.47    | 0.11%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4255 FN 02/51 FIXED 2                                                                                                         | CUSIP: 31418DWR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     83830 | PA      | $66599.00     | 0.01%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4379 FN 07/51 FIXED 2.5                                                                                                       | CUSIP: 31418D2M3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     25447 | PA      | $21251.43     | 0.00%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4413 FN 09/51 FIXED 2                                                                                                         | CUSIP: 31418D3X8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    547097 | PA      | $436058.77    | 0.08%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4418 FN 09/36 FIXED 2                                                                                                         | CUSIP: 31418D4C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    104751 | PA      | $96217.90     | 0.02%             | 2036-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae Pool                                                                 | FNMA POOL MA4442 FN 10/36 FIXED 2                                                                                                         | CUSIP: 31418D5C2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     49172 | PA      | $45137.66     | 0.01%             | 2036-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4469 FN 11/36 FIXED 1.5                                                                                                       | CUSIP: 31418D6F4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    143490 | PA      | $128373.28    | 0.02%             | 2036-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4492 FN 12/51 FIXED 2                                                                                                         | CUSIP: 31418D7E6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   8139682 | PA      | $6499655.18   | 1.16%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4513 FN 01/52 FIXED 3                                                                                                         | CUSIP: 31418EAP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    208474 | PA      | $180912.86    | 0.03%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4519 FN 01/42 FIXED 1.5                                                                                                       | CUSIP: 31418EAV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     26939 | PA      | $22328.43     | 0.00%             | 2042-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4521 FN 01/42 FIXED 2.5                                                                                                       | CUSIP: 31418EAX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     51803 | PA      | $45862.98     | 0.01%             | 2042-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4567 FN 03/37 FIXED 2                                                                                                         | CUSIP: 31418ECD0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2116007 | PA      | $1941964.14   | 0.35%             | 2037-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4568 FN 03/37 FIXED 2.5                                                                                                       | CUSIP: 31418ECE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     91143 | PA      | $85490.88     | 0.02%             | 2037-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4577 FN 04/52 FIXED 2                                                                                                         | CUSIP: 31418ECP3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    139228 | PA      | $111045.02    | 0.02%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4578 FN 04/52 FIXED 2.5                                                                                                       | CUSIP: 31418ECQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    523756 | PA      | $435911.65    | 0.08%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4581 FN 04/37 FIXED 1.5                                                                                                       | CUSIP: 31418ECT5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     40809 | PA      | $36468.75     | 0.01%             | 2037-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4582 FN 04/37 FIXED 2                                                                                                         | CUSIP: 31418ECU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    262569 | PA      | $240809.26    | 0.04%             | 2037-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4583 FN 04/37 FIXED 2.5                                                                                                       | CUSIP: 31418ECV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    864412 | PA      | $810806.47    | 0.14%             | 2037-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4730 FN 09/52 FIXED 3                                                                                                         | CUSIP: 31418EHG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     51095 | PA      | $44344.34     | 0.01%             | 2052-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4732 FN 09/52 FIXED 4                                                                                                         | CUSIP: 31418EHJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1930918 | PA      | $1805249.80   | 0.32%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4782 FN 10/52 FIXED 3.5                                                                                                       | CUSIP: 31418EJ43<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1128127 | PA      | $1020659.49   | 0.18%             | 2052-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4783 FN 10/52 FIXED 4                                                                                                         | CUSIP: 31418EJ50<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    822379 | PA      | $769099.14    | 0.14%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4784 FN 10/52 FIXED 4.5                                                                                                       | CUSIP: 31418EJ68<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    693176 | PA      | $670604.10    | 0.12%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4797 FN 11/37 FIXED 4                                                                                                         | CUSIP: 31418EKK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     22581 | PA      | $22187.84     | 0.00%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA4918 FN 02/53 FIXED 5                                                                                                         | CUSIP: 31418EPC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    116507 | PA      | $115437.12    | 0.02%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA5070 FN 07/53 FIXED 4.5                                                                                                       | CUSIP: 31418ET42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1220620 | PA      | $1176462.10   | 0.21%             | 2053-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA5165 FN 10/53 FIXED 5.5                                                                                                       | CUSIP: 31418EW30<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    129800 | PA      | $130975.21    | 0.02%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA5273 FN 02/54 FIXED 6.5                                                                                                       | CUSIP: 31418E2F6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     90580 | PA      | $93870.46     | 0.02%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA POOL MA5533 FN 11/39 FIXED 4                                                                                                         | CUSIP: 31418FEF0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    279273 | PA      | $274212.59    | 0.05%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA TBA 30 YR 3 SINGLE FAMILY MORTGAGE                                                                                                   | CUSIP: 01F030694<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -715000 | PA      | $-619338.42   | -0.11%            | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | FNMA TBA 30 YR 7 SINGLE FAMILY MORTGAGE                                                                                                   | CUSIP: 01F070690<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     55000 | PA      | $57853.13     | 0.01%             | 2036-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Goto Foods Funding LLC                                                          | FOCUS BRANDS FUNDING LLC FOCUS 2017 1A A2II 144A                                                                                          | CUSIP: 34417MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1353312 | PA      | $1349349.19   | 0.24%             | 2047-04-30      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Goto Foods Funding LLC                                                          | FOCUS BRANDS FUNDING LLC FOCUS 2022 1 A2 144A                                                                                             | CUSIP: 34417RAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     48500 | PA      | $49066.59     | 0.01%             | 2052-07-30      | Fixed         | 7.21%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust 2023-B                                             | FORD CREDIT AUTO LEASE TRUST FORDL 2023 B C                                                                                               | CUSIP: 34529NAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1420000 | PA      | $1434792.00   | 0.26%             | 2027-04-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust 2023-B                                             | FORD CREDIT AUTO LEASE TRUST FORDL 2023 B D                                                                                               | CUSIP: 34529NAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25309.51     | 0.00%             | 2028-06-15      | Fixed         | 6.97%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust A                                      | FORD CREDIT FLOORPLAN MASTER O FORDF 2023 1 B 144A                                                                                        | CUSIP: 34528QHX5<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    545000 | PA      | $547458.22    | 0.10%             | 2028-05-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                                                        | FORD MOTOR CREDIT CO LLC SR UNSECURED 03/28 5.918                                                                                         | CUSIP: 345397G72<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    595000 | PA      | $604413.50    | 0.11%             | 2028-03-20      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Fortitude Group Holdings LLC                                                    | FORTITUDE GROUP HOLDINGS COMPANY GUAR 144A 04/30 6.25                                                                                     | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    420000 | PA      | $436117.50    | 0.08%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust 2025-Hqa1                                         | FREDDIE MAC   STACR STACR 2025 HQA1 A1 144A                                                                                               | CUSIP: 35564NGY3<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | USGSE             | US        |    158563 | PA      | $158625.95    | 0.03%             | 2045-02-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust 2025-Hqa1                                         | FREDDIE MAC   STACR STACR 2025 HQA1 M1 144A                                                                                               | CUSIP: 35564NGZ0<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | USGSE             | US        |    686884 | PA      | $687520.16    | 0.12%             | 2045-02-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac REMICS                                                              | FREDDIE MAC FHR 5000 UI                                                                                                                   | CUSIP: 3137FVHM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2396921 | PA      | $407430.74    | 0.07%             | 2050-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac REMICS                                                              | FREDDIE MAC FHR 5086 MI                                                                                                                   | CUSIP: 3137FFHC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4537232 | PA      | $721472.01    | 0.13%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac REMICS                                                              | FREDDIE MAC FHR 5293 IO                                                                                                                   | CUSIP: 3137H9QG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4814052 | PA      | $608393.21    | 0.11%             | 2051-03-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac REMICS                                                              | FREDDIE MAC FHR 5293 KI                                                                                                                   | CUSIP: 3137H9QH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    346891 | PA      | $46551.63     | 0.01%             | 2051-02-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                             | FRONTIER ISSUER LLC FYBR 2023 1 C 144A                                                                                                    | CUSIP: 35910EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215083 | PA      | $225065.09    | 0.04%             | 2053-08-20      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                             | FRONTIER ISSUER LLC FYBR 2024 1 A2 144A                                                                                                   | CUSIP: 35910EAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    625000 | PA      | $645751.38    | 0.12%             | 2054-06-20      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                             | FRONTIER ISSUER LLC FYBR 2024 1 C 144A                                                                                                    | CUSIP: 35910EAP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1230000 | PA      | $1385623.78   | 0.25%             | 2054-06-20      | Fixed         | 11.16%                | No            |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                              | FS LUXEMBOURG SARL COMPANY GUAR 144A 02/31 8.875                                                                                          | CUSIP: 30315XAC8<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $418500.00    | 0.07%             | 2031-02-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GA Global Funding Trust                                                         | GA GLOBAL FUNDING TRUST SR SECURED 144A 04/32 5.5                                                                                         | CUSIP: 36143L2T1<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    700000 | PA      | $715790.60    | 0.13%             | 2032-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GCAT 2025-NQM1 Trust                                                            | GCAT GCAT 2025 NQM1 A1 144A                                                                                                               | CUSIP: 36171GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    446455 | PA      | $449217.62    | 0.08%             | 2069-11-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| GCAT 2025-NQM4 Trust                                                            | GCAT GCAT 2025 NQM4 A1 144A                                                                                                               | CUSIP: 367923AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    827151 | PA      | $835116.39    | 0.15%             | 2070-06-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| GMF Floorplan Owner Revolving Trust                                             | GENERAL MOTORS GFORT 2023 1 B 144A                                                                                                        | CUSIP: 361886CT9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100848.48    | 0.02%             | 2028-06-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| GMF Floorplan Owner Revolving Trust Series 2025-1                               | GENERAL MOTORS GFORT 2025 1A C 144A                                                                                                       | CUSIP: 361886EH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $804294.80    | 0.14%             | 2029-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GMF Floorplan Owner Revolving Trust                                             | GENERAL MOTORS GFORT 2025 2A C 144A                                                                                                       | CUSIP: 361886EK6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    820000 | PA      | $829098.23    | 0.15%             | 2030-03-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| GLP Capital LP / GLP Financing II Inc                                           | GLP CAPITAL LP / FIN II COMPANY GUAR 02/33 5.25                                                                                           | CUSIP: 361841AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $545089.60    | 0.10%             | 2033-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust 2025-1                                    | GM FINANCIAL AUTOMOBILE LEASIN GMALT 2025 1 B                                                                                             | CUSIP: 36271VAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $480195.98    | 0.09%             | 2029-02-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust 2023-1                       | GM FINANCIAL CONSUMER AUTOMOBI GMCAR 2023 1 B                                                                                             | CUSIP: 38013JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10000 | PA      | $10093.02     | 0.00%             | 2028-09-18      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust 2023-3                       | GM FINANCIAL CONSUMER AUTOMOBI GMCAR 2023 3 B                                                                                             | CUSIP: 36267KAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5000 | PA      | $5099.81      | 0.00%             | 2029-01-16      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust 2023-3                       | GM FINANCIAL CONSUMER AUTOMOBI GMCAR 2023 3 C                                                                                             | CUSIP: 36267KAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10000 | PA      | $10213.88     | 0.00%             | 2029-02-16      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL 786366 G2 08/52 FIXED 4.5                                                                                                    | CUSIP: 3622AB6B3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    877892 | PA      | $848429.64    | 0.15%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL AV9440 G2 11/46 FIXED 3                                                                                                      | CUSIP: 36195LPZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     18953 | PA      | $16811.55     | 0.00%             | 2046-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL BD0384 G2 10/47 FIXED 3.5                                                                                                    | CUSIP: 3617BFM90<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     24576 | PA      | $22571.87     | 0.00%             | 2047-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA3521 G2 03/46 FIXED 3.5                                                                                                    | CUSIP: 36179R4E6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    122971 | PA      | $114238.34    | 0.02%             | 2046-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA3597 G2 04/46 FIXED 3.5                                                                                                    | CUSIP: 36179R7J2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    410014 | PA      | $381909.35    | 0.07%             | 2046-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA3803 G2 07/46 FIXED 3.5                                                                                                    | CUSIP: 36179SGL5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    844415 | PA      | $780795.51    | 0.14%             | 2046-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA4068 G2 11/46 FIXED 3                                                                                                      | CUSIP: 36179SQV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    167561 | PA      | $150543.73    | 0.03%             | 2046-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA4511 G2 06/47 FIXED 4                                                                                                      | CUSIP: 36179TAL9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      6271 | PA      | $5945.09      | 0.00%             | 2047-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA4512 G2 06/47 FIXED 4.5                                                                                                    | CUSIP: 36179TAM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     58872 | PA      | $57952.29     | 0.01%             | 2047-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA4586 G2 07/47 FIXED 3.5                                                                                                    | CUSIP: 36179TCX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     63341 | PA      | $58703.82     | 0.01%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA4655 G2 08/47 FIXED 5                                                                                                      | CUSIP: 36179TE43<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     36894 | PA      | $37350.48     | 0.01%             | 2047-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA4780 G2 10/47 FIXED 4.5                                                                                                    | CUSIP: 36179TJZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     18272 | PA      | $17986.70     | 0.00%             | 2047-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA5019 G2 02/48 FIXED 3.5                                                                                                    | CUSIP: 36179TSG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    138684 | PA      | $128360.01    | 0.02%             | 2048-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA5140 G2 04/48 FIXED 5.5                                                                                                    | CUSIP: 36179TV93<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     30398 | PA      | $31306.82     | 0.01%             | 2048-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA5876 G2 04/49 FIXED 4                                                                                                      | CUSIP: 36179UQ54<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    137691 | PA      | $131085.93    | 0.02%             | 2049-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA5988 G2 06/49 FIXED 5                                                                                                      | CUSIP: 36179UUM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    313185 | PA      | $315266.68    | 0.06%             | 2049-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA6531 G2 03/50 FIXED 3                                                                                                      | CUSIP: 36179VHG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     17769 | PA      | $15606.83     | 0.00%             | 2050-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA6543 G2 03/50 FIXED 4                                                                                                      | CUSIP: 36179VHU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     95602 | PA      | $90224.46     | 0.02%             | 2050-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA6819 G2 08/50 FIXED 2.5                                                                                                    | CUSIP: 36179VSG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     12976 | PA      | $11082.57     | 0.00%             | 2050-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7135 G2 01/51 FIXED 2                                                                                                      | CUSIP: 36179V4U1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    381749 | PA      | $312835.01    | 0.06%             | 2051-01-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7139 G2 01/51 FIXED 4                                                                                                      | CUSIP: 36179V4Y3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     18364 | PA      | $17327.97     | 0.00%             | 2051-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7312 G2 04/51 FIXED 2.5                                                                                                    | CUSIP: 36179WDR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     75755 | PA      | $64647.38     | 0.01%             | 2051-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7533 G2 08/51 FIXED 2                                                                                                      | CUSIP: 36179WLN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2940111 | PA      | $2409359.83   | 0.43%             | 2051-08-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7590 G2 09/51 FIXED 3                                                                                                      | CUSIP: 36179WNF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    160051 | PA      | $141813.98    | 0.03%             | 2051-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7649 G2 10/51 FIXED 2.5                                                                                                    | CUSIP: 36179WQA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1313741 | PA      | $1120350.98   | 0.20%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7705 G2 11/51 FIXED 2.5                                                                                                    | CUSIP: 36179WR26<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    156376 | PA      | $133356.54    | 0.02%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7827 G2 01/52 FIXED 2.5                                                                                                    | CUSIP: 36179WVU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    130601 | PA      | $111375.53    | 0.02%             | 2052-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7935 G2 03/52 FIXED 2                                                                                                      | CUSIP: 36179WY85<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1573630 | PA      | $1289557.03   | 0.23%             | 2052-03-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7936 G2 03/52 FIXED 2.5                                                                                                    | CUSIP: 36179WY93<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2639330 | PA      | $2250805.88   | 0.40%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7937 G2 03/52 FIXED 3                                                                                                      | CUSIP: 36179WZA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    484184 | PA      | $428948.33    | 0.08%             | 2052-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA7988 G2 04/52 FIXED 3                                                                                                      | CUSIP: 36179W2V9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2572933 | PA      | $2279412.68   | 0.41%             | 2052-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8098 G2 06/52 FIXED 3                                                                                                      | CUSIP: 36179W7K8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    127159 | PA      | $112652.47    | 0.02%             | 2052-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8202 G2 08/52 FIXED 5                                                                                                      | CUSIP: 36179XDF0<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     12172 | PA      | $12112.66     | 0.00%             | 2052-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8267 G2 09/52 FIXED 4                                                                                                      | CUSIP: 36179XFG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1312240 | PA      | $1234652.76   | 0.22%             | 2052-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8271 G2 09/52 FIXED 6                                                                                                      | CUSIP: 36179XFL5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     49104 | PA      | $50474.44     | 0.01%             | 2052-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8346 G2 10/52 FIXED 4                                                                                                      | CUSIP: 36179XHX7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    761330 | PA      | $716198.32    | 0.13%             | 2052-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8350 G2 10/52 FIXED 6                                                                                                      | CUSIP: 36179XH33<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     31142 | PA      | $32003.99     | 0.01%             | 2052-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8492 G2 12/52 FIXED 6                                                                                                      | CUSIP: 36179XNH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    382862 | PA      | $393371.94    | 0.07%             | 2052-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8646 G2 02/53 FIXED 4.5                                                                                                    | CUSIP: 36179XTB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    435565 | PA      | $422592.08    | 0.08%             | 2053-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA8800 G2 04/53 FIXED 5                                                                                                      | CUSIP: 36179XX50<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    668131 | PA      | $665092.82    | 0.12%             | 2053-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MA9015 G2 07/53 FIXED 4.5                                                                                                    | CUSIP: 36179YAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    497498 | PA      | $481360.79    | 0.09%             | 2053-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II POOL MB0091 G2 12/54 FIXED 5                                                                                                      | CUSIP: 3618N5C56<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    741315 | PA      | $734193.44    | 0.13%             | 2054-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II TBA 30 YR 2.5 JUMBOS                                                                                                              | CUSIP: 21H022697<br>LEI: N/A                  | Short            | ABS-MBS          | USGA              | US        |   -430000 | PA      | $-366499.59   | -0.07%            | 2043-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II TBA 30 YR 5.5 JUMBOS                                                                                                              | CUSIP: 21H052694<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2200000 | PA      | $2216149.01   | 0.40%             | 2033-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | GNMA II TBA 30 YR 6 JUMBOS                                                                                                                | CUSIP: 21H060697<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    395000 | PA      | $402831.81    | 0.07%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund                                               | GOLUB CAPITAL CAP FND SR UNSECURED 05/30 5.875                                                                                            | CUSIP: 38179RAD7<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    858000 | PA      | $868923.20    | 0.15%             | 2030-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | GOVERNMENT NATIONAL MORTGAGE A GNR 2020 173 MI                                                                                            | CUSIP: 38382LNV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    635256 | PA      | $92502.80     | 0.02%             | 2050-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | GOVERNMENT NATIONAL MORTGAGE A GNR 2020 181 WI                                                                                            | CUSIP: 38382LXR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    333295 | PA      | $38239.65     | 0.01%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | GOVERNMENT NATIONAL MORTGAGE A GNR 2021 57 AI                                                                                             | CUSIP: 38382QAU4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1509793 | PA      | $179752.52    | 0.03%             | 2051-02-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | GOVERNMENT NATIONAL MORTGAGE A GNR 2021 96 VI                                                                                             | CUSIP: 38382UG39<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1615347 | PA      | $230684.18    | 0.04%             | 2051-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | GOVERNMENT NATIONAL MORTGAGE A GNR 2022 63 LM                                                                                             | CUSIP: 38383REY9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $20821.17     | 0.00%             | 2050-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | GOVERNMENT NATIONAL MORTGAGE A GNR 2023 55 EI                                                                                             | CUSIP: 38383X3E2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5501625 | PA      | $813103.91    | 0.15%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Gray Media Inc                                                                  | GRAY MEDIA INC SECURED 144A 07/32 9.625                                                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    270000 | PA      | $270675.00    | 0.05%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2021-GR2                                    | GS MORTGAGE BACKED SECURITIES GSMBS 2021 GR2 A4 144A                                                                                      | CUSIP: 36262JAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    391017 | PA      | $317726.16    | 0.06%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust 2019-GC40                                          | GS MORTGAGE SECURITIES TRUST GSMS 2019 GC40 B                                                                                             | CUSIP: 36257HBU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80000 | PA      | $69504.18     | 0.01%             | 2052-07-10      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc                                       | HA SUSTAINABLE INF CAP COMPANY GUAR 07/34 6.375                                                                                           | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    404000 | PA      | $398950.00    | 0.07%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Harbour Energy PLC                                                              | HARBOUR ENERGY PLC SR UNSECURED 144A 04/35 6.327                                                                                          | CUSIP: 411618AD3<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    655000 | PA      | $662507.61    | 0.12%             | 2035-04-01      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| Hardee s Funding LLC                                                            | HARDEE S FUNDING LLC AND CARLS HNGRY 2020 1A A2 144A                                                                                      | CUSIP: 411707AH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    792650 | PA      | $761399.62    | 0.14%             | 2050-12-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| HAT Holdings I LLC / HAT Holdings II LLC                                        | HAT HOLDINGS I LLC/HAT COMPANY GUAR 144A 06/27 8                                                                                          | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $41400.00     | 0.01%             | 2027-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HAT Holdings I LLC / HAT Holdings II LLC                                        | HAT HOLDINGS I LLC/HAT COMPANY GUAR 144A 09/30 3.75                                                                                       | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $369056.25    | 0.07%             | 2030-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| Health & Happiness H&H International Holdings Ltd                               | HEALTH AND HAPPINESS H+H SR SECURED REGS 07/28 9.125                                                                                      | CUSIP: 000000000<br>LEI: 2138007WU5DJFZFDDV59 | Long             | DBT              | CORP              | KY        |    850000 | PA      | $886125.00    | 0.16%             | 2028-07-24      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Health Care Service Corp A Mutual Legal Reserve Co                              | HEALTH CARE SERVICE CORP SR UNSECURED 144A 06/54 5.875                                                                                    | CUSIP: 42218SAM0<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    565000 | PA      | $536470.33    | 0.10%             | 2054-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Heathrow Funding Ltd                                                            | HEATHROW FUNDING LTD SR SECURED REGS 01/38 3.875                                                                                          | CUSIP: 000000000<br>LEI: 7TI96JO3DYEIQWZ7Z726 | Long             | DBT              | CORP              | JE        |    100000 | PA      | $115573.24    | 0.02%             | 2036-01-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Heathrow Funding Ltd                                                            | HEATHROW FUNDING LTD SR SECURED REGS 03/36 1.875                                                                                          | CUSIP: 000000000<br>LEI: 7TI96JO3DYEIQWZ7Z726 | Long             | DBT              | CORP              | JE        |    459000 | PA      | $465194.65    | 0.08%             | 2034-03-14      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Hexcel Corp                                                                     | HEXCEL CORP SR UNSECURED 02/35 5.875                                                                                                      | CUSIP: 428291AP3<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |    215000 | PA      | $219020.72    | 0.04%             | 2035-02-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Hightower Holding LLC                                                           | HIGHTOWER HOLDING LLC SR UNSECURED 144A 01/30 9.125                                                                                       | CUSIP: 43118DAB6<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |    355000 | PA      | $379850.00    | 0.07%             | 2030-01-31      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Hightower Holding LLC                                                           | HIGHTOWER HOLDINGS LLC 2025 1ST LIEN TERM LOAN B                                                                                          | CUSIP: 43117LAP8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | LON              | CORP              | US        |    665000 | PA      | $663756.45    | 0.12%             | 2032-02-03      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                             | HILCORP ENERGY I LP TERM LOAN B                                                                                                           | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |    815717 | PA      | $815716.72    | 0.15%             | 2030-02-11      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co                                        | HILCORP ENERGY I/HILCORP SR UNSECURED 144A 02/35 7.25                                                                                     | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $156400.00    | 0.03%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co                                        | HILCORP ENERGY I/HILCORP SR UNSECURED 144A 11/33 8.375                                                                                    | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $443593.75    | 0.08%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust 2020-A                                             | HILTON GRAND VACATIONS TRUST HGVT 2020 AA C 144A                                                                                          | CUSIP: 43285HAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75167 | PA      | $76144.31     | 0.01%             | 2039-02-25      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                         | HILTON USA TRUST HILT 2024 ORL B 144A                                                                                                     | CUSIP: 403956AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $140218.75    | 0.03%             | 2037-05-15      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Home Partners of America 2022-1 Trust                                           | HOME PARTNERS OF AMERICA TRUST HPA 2022 1 A 144A                                                                                          | CUSIP: 43730NAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164990 | PA      | $163961.54    | 0.03%             | 2039-04-17      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Home Partners of America 2022-1 Trust                                           | HOME PARTNERS OF AMERICA TRUST HPA 2022 1 D 144A                                                                                          | CUSIP: 43730NAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    143151 | PA      | $141309.82    | 0.03%             | 2039-04-17      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| HOMES 2024-AFC1 Trust                                                           | HOMES TRUST HOMES 2024 AFC1 A1 144A                                                                                                       | CUSIP: 403945AC2<br>LEI: 2549009KYOPIDSS2IL61 | Long             | ABS-MBS          | CORP              | US        |    266408 | PA      | $266631.90    | 0.05%             | 2059-08-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| HOMES 2025-NQM2 Trust                                                           | HOMES TRUST HOMES 2025 NQM2 A1 144A                                                                                                       | CUSIP: 403966AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    360059 | PA      | $362276.64    | 0.06%             | 2070-02-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Howard Hughes Corp/The                                                          | HOWARD HUGHES CORP COMPANY GUAR 144A 08/28 5.375                                                                                          | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189050.00    | 0.03%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2023-1                                                    | HPEFS EQUIPMENT TRUST HPEFS 2023 1A B 144A                                                                                                | CUSIP: 40443DAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100318 | PA      | $100370.21    | 0.02%             | 2028-04-20      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2023-2                                                    | HPEFS EQUIPMENT TRUST HPEFS 2023 2A C 144A                                                                                                | CUSIP: 44328UAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100695.66    | 0.02%             | 2031-01-21      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2023-2                                                    | HPEFS EQUIPMENT TRUST HPEFS 2023 2A D 144A                                                                                                | CUSIP: 44328UAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101536.31    | 0.02%             | 2031-07-21      | Fixed         | 6.97%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2024-1                                                    | HPEFS EQUIPMENT TRUST HPEFS 2024 1A C 144A                                                                                                | CUSIP: 403963AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $206383.96    | 0.04%             | 2031-05-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2024-1                                                    | HPEFS EQUIPMENT TRUST HPEFS 2024 1A D 144A                                                                                                | CUSIP: 403963AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1622638.24   | 0.29%             | 2031-11-20      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2024-2                                                    | HPEFS EQUIPMENT TRUST HPEFS 2024 2A B 144A                                                                                                | CUSIP: 40444MAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101105.19    | 0.02%             | 2031-10-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust 2024-2                                                    | HPEFS EQUIPMENT TRUST HPEFS 2024 2A D 144A                                                                                                | CUSIP: 40444MAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102456.55    | 0.02%             | 2032-04-20      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                               | HSBC HOLDINGS PLC SR UNSECURED 03/31 VAR                                                                                                  | CUSIP: 404280ER6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $409254.80    | 0.07%             | 2031-03-03      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                                                           | HUB INTERNATIONAL LIMITED 2025 TERM LOAN B                                                                                                | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    867172 | PA      | $868620.46    | 0.15%             | 2030-06-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                                                           | HUB INTERNATIONAL LTD SR SECURED 144A 06/30 7.25                                                                                          | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    540000 | PA      | $564300.00    | 0.10%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                                                           | HUB INTERNATIONAL LTD SR UNSECURED 144A 01/32 7.375                                                                                       | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    530000 | PA      | $555175.00    | 0.10%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Hudson Yards 2025-SPRL Mortgage Trust                                           | HUDSON YARDS HY 2025 SPRL B 144A                                                                                                          | CUSIP: 44855PAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $757736.35    | 0.14%             | 2040-01-13      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| HYT Commercial Mortgage Trust 2024-RGCY                                         | HYT COMMERCIAL MORTGAGE TRUST HYT 2024 RGCY A 144A                                                                                        | CUSIP: 449173AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $240299.76    | 0.04%             | 2041-09-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                         | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 01/31 5.4                                                                                       | CUSIP: 44891ACV7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154825.65    | 0.03%             | 2031-01-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Icon Investments Six DAC                                                        | ICON INVESTMENTS SIX DAC SR SECURED 05/29 5.849                                                                                           | CUSIP: 45115AAB0<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |    800000 | PA      | $834250.40    | 0.15%             | 2029-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Icon Investments Six DAC                                                        | ICON INVESTMENTS SIX DAC SR SECURED 05/34 6                                                                                               | CUSIP: 45115AAC8<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |    800000 | PA      | $832114.40    | 0.15%             | 2034-05-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ilpt Commercial Mortgage Trust 2022-Lpfx                                        | ILPT COMMERCIAL MORTGAGE TRUST ILPT 2022 LPFX C 144A                                                                                      | CUSIP: 449653AE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $88724.66     | 0.02%             | 2032-03-15      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| IMCD NV                                                                         | IMCD NV COMPANY GUAR REGS 04/30 3.625                                                                                                     | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $589945.41    | 0.11%             | 2030-04-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance PLC                                                     | IMPERIAL BRANDS FIN PLC COMPANY GUAR 144A 07/35 5.625                                                                                     | CUSIP: 45262BAK9<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    530000 | PA      | $536895.30    | 0.10%             | 2035-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance PLC                                                     | IMPERIAL BRANDS FIN PLC COMPANY GUAR 144A 07/55 6.375                                                                                     | CUSIP: 45262BAL7<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $302557.80    | 0.05%             | 2055-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Icon Parent Inc                                                                 | INSTRUCTURE HOLDINGS INC 2024 2ND LIEN TERM LOAN                                                                                          | CUSIP: 45115MAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    274000 | PA      | $277082.50    | 0.05%             | 2032-11-12      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | INSTRUCTURE HOLDINGS INC 2025 REPRICED TERM LOAN                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    269325 | PA      | $269389.64    | 0.05%             | 2031-11-13      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                                                       | IQVIA INC SR SECURED 02/29 6.25                                                                                                           | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    240000 | PA      | $252365.04    | 0.05%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IRB Holding Corp                                                                | IRB HOLDING CORP 2024 1ST LIEN TERM LOAN B                                                                                                | CUSIP: 44988LAL1<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    227767 | PA      | $227543.70    | 0.04%             | 2027-12-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Ivory Coast Government International Bond                                       | IVORY COAST SR UNSECURED 144A 04/36 8.075                                                                                                 | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    885000 | PA      | $875043.75    | 0.16%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| Jack in the Box Funding LLC                                                     | JACK IN THE BOX FUNDING, LLC JACK 2022 1A A2I 144A                                                                                        | CUSIP: 466365AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1543800 | PA      | $1493269.73   | 0.27%             | 2052-02-26      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO XV Ltd                                                            | JAMESTOWN CLO LTD JTWN 2020 15A A1R 144A                                                                                                  | CUSIP: 47050EAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250000.16    | 0.04%             | 2035-07-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                                           | JANE STREET GROUP LLC 2024 TERM LOAN B1                                                                                                   | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |    262477 | PA      | $261516.28    | 0.05%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance Inc                                             | JANE STREET GRP/JSG FIN SR SECURED 144A 04/31 7.125                                                                                       | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    320000 | PA      | $333200.00    | 0.06%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance Inc                                             | JANE STREET GRP/JSG FIN SR SECURED 144A 05/33 6.75                                                                                        | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    355000 | PA      | $366537.50    | 0.07%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance Inc                                             | JANE STREET GRP/JSG FIN SR SECURED 144A 11/32 6.125                                                                                       | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $325406.25    | 0.06%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management Inc                                      | JONES DESLAURIERS INSURA SR SECURED 144A 03/30 8.5                                                                                        | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    160000 | PA      | $168800.00    | 0.03%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management Inc                                      | JONES DESLAURIERS INSURA SR UNSECURED 144A 12/30 10.5                                                                                     | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    530000 | PA      | $562462.50    | 0.10%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management Inc                                      | JONES DESLUIR INSRNC MGMT INC 2025 TERM LOAN B                                                                                            | CUSIP: C4900AAM9<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |    471382 | PA      | $468044.79    | 0.08%             | 2030-03-15      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2016-3                                                 | JP MORGAN MORTGAGE TRUST JPMMT 2016 3 B3 144A                                                                                             | CUSIP: 46647EBC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     61364 | PA      | $59132.42     | 0.01%             | 2046-10-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2017-2                                                 | JP MORGAN MORTGAGE TRUST JPMMT 2017 2 B5 144A                                                                                             | CUSIP: 46648HBC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    324650 | PA      | $292267.31    | 0.05%             | 2047-05-25      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2017-5                                                 | JP MORGAN MORTGAGE TRUST JPMMT 2017 5 B2 144A                                                                                             | CUSIP: 46590YAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    171482 | PA      | $170243.90    | 0.03%             | 2048-10-26      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2020-5                                                 | JP MORGAN MORTGAGE TRUST JPMMT 2020 5 B2 144A                                                                                             | CUSIP: 46653JBX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175849 | PA      | $154113.12    | 0.03%             | 2050-12-25      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2020-LTV1                                              | JP MORGAN MORTGAGE TRUST JPMMT 2020 LTV1 B1A 144A                                                                                         | CUSIP: 46591NBR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    173126 | PA      | $151787.58    | 0.03%             | 2050-06-25      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2023-DSC2                                            | JP MORGAN MORTGAGE TRUST JPMMT 2023 DSC2 A1 144A                                                                                          | CUSIP: 46657BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    169500 | PA      | $170499.90    | 0.03%             | 2063-11-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-NQM3                                       | JP MORGAN MORTGAGE TRUST JPMMT 2025 NQM3 A1 144A                                                                                          | CUSIP: 46659QAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1343734 | PA      | $1354228.03   | 0.24%             | 2065-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                                                      | KASEYA INC 2025 1L TERM LOAN B                                                                                                            | CUSIP: 48578AAB4<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |    264338 | PA      | $264741.94    | 0.05%             | 2032-03-20      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                                                      | KASEYA INC 2025 2ND LIEN TERM LOAN B                                                                                                      | CUSIP: 48578AAE8<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |    799694 | PA      | $800445.86    | 0.14%             | 2033-03-20      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| Kaspi.KZ JSC                                                                    | KASPI.KZ JSC SR UNSECURED 144A 03/30 6.25                                                                                                 | CUSIP: 466281AA0<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |    805000 | PA      | $824931.00    | 0.15%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Kentucky Utilities Co                                                           | KENTUCKY UTILITIES CO 1ST MORTGAGE 08/55 5.85                                                                                             | CUSIP: 491674BP1<br>LEI: AGX0G2MXE54NFNNICD28 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59485.92     | 0.01%             | 2055-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group LP                                                            | KITE REALTY GROUP LP SR UNSECURED 12/31 4.95                                                                                              | CUSIP: 49803XAF0<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |    441000 | PA      | $446887.35    | 0.08%             | 2031-12-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| KKR CLO 43 Ltd                                                                  | KKR FINANCIAL CLO LTD KKR 2022 43A BR 144A                                                                                                | CUSIP: 48255UAN4<br>LEI: 25490088LQLWORRKOM10 | Long             | ABS-CBDO         | CORP              | JE        |    300000 | PA      | $301042.66    | 0.05%             | 2036-01-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                           | LEVEL 3 FINANCING INC 2025 TERM LOAN B                                                                                                    | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    710000 | PA      | $712811.60    | 0.13%             | 2032-03-29      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                           | LEVEL 3 FINANCING INC SECURED 144A 04/30 4.5                                                                                              | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    170000 | PA      | $152150.00    | 0.03%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                           | LEVEL 3 FINANCING INC SR SECURED 144A 03/34 7                                                                                             | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    390000 | PA      | $390975.00    | 0.07%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                           | LEVEL 3 FINANCING INC SR SECURED 144A 06/33 6.875                                                                                         | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136012.50    | 0.02%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                           | LEVEL 3 FINANCING INC SR SECURED 144A 12/30 10.75                                                                                         | CUSIP: 527298BZ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     57661 | PA      | $64940.70     | 0.01%             | 2030-12-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                            | LIFEPOINT HEALTH INC 2024 1ST LIEN TERM LOAN B                                                                                            | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    352616 | PA      | $349664.42    | 0.06%             | 2031-05-17      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                            | LIFEPOINT HEALTH INC SR SECURED 144A 10/30 11                                                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    495000 | PA      | $544500.00    | 0.10%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                            | LIFEPOINT HEALTH INC SR UNSECURED 144A 06/32 10                                                                                           | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    403000 | PA      | $415090.00    | 0.07%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| Loire Finco Luxembourg Sarl                                                     | LOIRE FINCO LUXEMBOURG SARL 2025 USD TERM LOAN B                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    249375 | PA      | $250621.88    | 0.04%             | 2030-01-21      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | LONG GILT FUTURE  DEC25 IFLL 20251229                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | GB        |        71 | NC      | $-22417.19    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Louisville Gas and Electric Co                                                  | LOUISVILLE GAS + ELEC 1ST MORTGAGE 08/55 5.85                                                                                             | CUSIP: 546676BA4<br>LEI: KO3GRIB3RPH1XDX50U72 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59212.20     | 0.01%             | 2055-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc                                                                | LPL HOLDINGS INC COMPANY GUAR 03/35 5.65                                                                                                  | CUSIP: 50212YAM6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166738.11    | 0.03%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc                                                                | LPL HOLDINGS INC COMPANY GUAR 06/30 5.15                                                                                                  | CUSIP: 50212YAP9<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    530000 | PA      | $540626.50    | 0.10%             | 2030-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc                                                                | LPL HOLDINGS INC COMPANY GUAR 06/35 5.75                                                                                                  | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    166000 | PA      | $168060.06    | 0.03%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LTI Holdings Inc                                                                | LTI HOLDINGS INC 2024 TERM LOAN B                                                                                                         | CUSIP: 50217UBF3<br>LEI: 5493003GUY3WBOTOAP97 | Long             | LON              | CORP              | US        |    426821 | PA      | $428067.57    | 0.08%             | 2029-07-29      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                                          | LUMEN TECHNOLOGIES, INC. 2024 TERM LOAN A                                                                                                 | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |     82436 | PA      | $83899.44     | 0.01%             | 2028-06-01      | Floating      | 10.32%                | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: 417208843 TRS USD R V 12MSOFR 5417208843INT IBOXXTRS/ Short: 417208843 TRS USD P E 5417208843RET IBOXXTRS                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-254842.58   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: 535890477 CDS USD R F  3.00000 5535890477FEE CMBX/ Short: 535890477 CDS USD P V 01MEVENT 5535890477PRO CMBX                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-405315.49   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: 539175697 TRS USD R V 12MSOFR 5539175697INT IBOXXTRS/ Short: 539175697 TRS USD P E 5539175697RET IBOXXTRS                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | GB        |         1 | NC      | $45220.98     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B10038702 IRS USD R V 12MSOFR 5410038702_FLO CCPOIS/ Short: B10038702 IRS USD P F  3.81500 5410038702_FIX CCPOIS                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         1 | NC      | $-173332.29   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B15057713 CDS USD R V 03MEVENT 5415057713PRO CCPCDX/ Short: B15057713 CDS USD P F  5.00000 5415057713FEE CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $-2084575.61  | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B16360251 IRS USD R V 12MSOFR 5416360251_FLO CCPOIS/ Short: B16360251 IRS USD P F  3.70300 5416360251_FIX CCPOIS                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         1 | NC      | $-11297.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B26665203 IRS USD R V 12MUSCPI 5426665203INF CCPINFLATIONZERO/ Short: B26665203 IRS USD P F  2.55750 5426665203FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $45913.01     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B26665208 IRS USD R V 12MUSCPI 5426665208INF CCPINFLATIONZERO/ Short: B26665208 IRS USD P F  2.54500 5426665208FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $20329.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B27360828 IRS USD R V 12MUSCPI 5427360828INF CCPINFLATIONZERO/ Short: B27360828 IRS USD P F  2.54800 5427360828FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $46827.74     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B29823481 IRS USD R V 12MUSCPI 5429823481INF CCPINFLATIONZERO/ Short: B29823481 IRS USD P F  2.56200 5429823481FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $17872.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B30516102 IRS USD R V 12MUSCPI 5430516102INF CCPINFLATIONZERO/ Short: B30516102 IRS USD P F  2.53300 5430516102FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $22074.29     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B30516339 IRS USD R V 12MUSCPI 5430516339INF CCPINFLATIONZERO/ Short: B30516339 IRS USD P F  2.55500 5430516339FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $35559.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B33572044 IRS USD R V 12MUSCPI 5533572044INF CCPINFLATIONZERO/ Short: B33572044 IRS USD P F  2.58400 5533572044FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $6534.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B33742397 IRS USD R V 12MSOFR 5433742397_FLO CCPOIS/ Short: B33742397 IRS USD P F  4.00200 5433742397_FIX CCPOIS                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         1 | NC      | $-870778.66   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B34114285 CDS USD R V 03MEVENT 5534114285PRO CCPCDX/ Short: B34114285 CDS USD P F  1.00000 5534114285FEE CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $725604.05    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B35330748 IRS USD R V 12MUSCPI 5535330748INF CCPINFLATIONZERO/ Short: B35330748 IRS USD P F  2.59000 5535330748FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $3644.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                                 | Long: B52889939 CDS USD R V 03MEVENT TC23WNAG4 07CABWAH0 CCPCORPOR/ Short: B52889939 CDS USD P F  5.00000 BEAZER HOMES 29 12   CCPCORPOR  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-78655.87    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B69248447 IRS USD R V 12MUSCPI 5369248447INF CCPINFLATIONZERO/ Short: B69248447 IRS USD P F  2.45900 5369248447FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $25142.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B69248724 IRS USD R V 12MUSCPI 5369248724INF CCPINFLATIONZERO/ Short: B69248724 IRS USD P F  2.45400 5369248724FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $18773.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B70504723 IRS USD R V 12MUSCPI 5370504723INF CCPINFLATIONZERO/ Short: B70504723 IRS USD P F  2.44700 5370504723FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $19684.75     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B70504784 IRS USD R V 12MUSCPI 5370504784INF CCPINFLATIONZERO/ Short: B70504784 IRS USD P F  2.45820 5370504784FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $3860.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B70548696 IRS USD R V 12MUSCPI 5370548696INF CCPINFLATIONZERO/ Short: B70548696 IRS USD P F  2.43920 5370548696FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $12821.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B70548750 IRS USD R V 12MUSCPI 5370548750INF CCPINFLATIONZERO/ Short: B70548750 IRS USD P F  2.45350 5370548750FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $18879.37     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B71677808 CDS EUR R V 03MEVENT 5371677808PRO CCPITRAXX/ Short: B71677808 CDS EUR P F  1.00000 5371677808FEE CCPITRAXX               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $-46005.29    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B78648858 IRS USD R V 12MSOFR 5478648858_FLO CCPOIS/ Short: B78648858 IRS USD P F  3.70450 5478648858_FIX CCPOIS                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         1 | NC      | $-16496.73    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B79297795 IRS USD R V 12MUSCPI 5379297795INF CCPINFLATIONZERO/ Short: B79297795 IRS USD P F  2.51950 5379297795FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |         1 | NC      | $27700.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B94186148 IRS PLN R V 06MWIBOR 5494186148FLO CCPVANILLA/ Short: B94186148 IRS PLN P F  4.22750 5494186148FIX CCPVANILLA             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         1 | NC      | $-19278.24    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: B95674691 IRS PLN R V 06MWIBOR 5495674691FLO CCPVANILLA/ Short: B95674691 IRS PLN P F  4.21750 5495674691FIX CCPVANILLA             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         1 | NC      | $-15664.89    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                                 | Long: S61966717 CDS EUR R F  1.00000 5361966717FEE CCPCORPORATE/ Short: S61966717 CDS EUR P V 03MEVENT 5361966717PRO CCPCORPORATE         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-51790.31    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: S71677778 CDS USD R F  1.00000 5371677778FEE CCPCDX/ Short: S71677778 CDS USD P V 03MEVENT 5371677778PRO CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $1303032.67   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: S71677786 CDS EUR R F  1.00000 5371677786FEE CCPITRAXX/ Short: S71677786 CDS EUR P V 03MEVENT 5371677786PRO CCPITRAXX               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $860776.61    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: S71720212 CDS USD R F  1.00000 5371720212FEE CCPCDX/ Short: S71720212 CDS USD P V 03MEVENT 5371720212PRO CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $-289163.82   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Long: S79633573 CDS USD R F  5.00000 5379633573FEE CCPCDX/ Short: S79633573 CDS USD P V 03MEVENT 5379633573PRO CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $1377638.87   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding XXIV Ltd                                                   | MADISON PARK FUNDING LTD MDPK 2016 24A CR2 144A                                                                                           | CUSIP: 55820NBA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1625000 | PA      | $1625926.48   | 0.29%             | 2029-10-20      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding XXX LTD                                                    | MADISON PARK FUNDING LTD MDPK 2018 30A BR 144A                                                                                            | CUSIP: 55821TAQ0<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $703639.93    | 0.13%             | 2037-07-16      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding XXXV Ltd                                                   | MADISON PARK FUNDING LTD MDPK 2019 35A CR 144A                                                                                            | CUSIP: 55819MAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    255000 | PA      | $255659.11    | 0.05%             | 2032-04-20      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding LX Ltd                                                     | MADISON PARK FUNDING LTD MDPK 2022 60A BR 144A                                                                                            | CUSIP: 557910AS5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    315000 | PA      | $316677.30    | 0.06%             | 2037-10-25      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding LXI Ltd                                                    | MADISON PARK FUNDING LTD MDPK 2023 61A B 144A                                                                                             | CUSIP: 55822NAE9<br>LEI: 2138008EAUXBYEZRP521 | Long             | ABS-CBDO         | CORP              | JE        |   1400000 | PA      | $1408078.00   | 0.25%             | 2037-01-20      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                                                       | MADISON SAFETY + FLOW LLC 2025 TERM LOAN B                                                                                                | CUSIP: 55822DAM3<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |    138336 | PA      | $138750.70    | 0.02%             | 2031-09-26      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Magna International Inc                                                         | MAGNA INTERNATIONAL INC SR UNSECURED 06/35 5.875                                                                                          | CUSIP: 559222BD5<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $78053.40     | 0.01%             | 2035-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Mars Inc                                                                        | MARS INC SR UNSECURED 144A 03/35 5.2                                                                                                      | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    420000 | PA      | $423344.88    | 0.08%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Mars Inc                                                                        | MARS INC SR UNSECURED 144A 05/45 5.65                                                                                                     | CUSIP: 571676BB0<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294907.20    | 0.05%             | 2045-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Marvell Technology Inc                                                          | MARVELL TECHNOLOGY INC SR UNSECURED 07/35 5.45                                                                                            | CUSIP: 573874AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $609946.80    | 0.11%             | 2035-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co                                                            | MATADOR RESOURCES CO COMPANY GUAR 144A 04/33 6.25                                                                                         | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165618.75    | 0.03%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                                     | MATCH GROUP HLD II LLC SR UNSECURED 144A 09/33 6.125                                                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    344000 | PA      | $347010.00    | 0.06%             | 2033-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| McAfee Corp                                                                     | MCAFEE CORP SR UNSECURED 144A 02/30 7.375                                                                                                 | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    285000 | PA      | $262912.50    | 0.05%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| McAfee Corp                                                                     | MCAFEE LLC 2024 USD 1ST LIEN TERM LOAN B                                                                                                  | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |    252813 | PA      | $240488.15    | 0.04%             | 2029-03-01      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                             | MEDLINE BORROWER LP 2025 INCREMENTAL TERM LOAN B                                                                                          | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    340000 | PA      | $340000.00    | 0.06%             | 2030-10-21      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                             | MEDLINE BORROWER LP 2025 TERM LOAN B                                                                                                      | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    185000 | PA      | $184981.50    | 0.03%             | 2028-10-21      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP/Medline Co-Issuer Inc                                       | MEDLINE BORROWER/MEDL CO SR SECURED 144A 04/29 6.25                                                                                       | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $169331.25    | 0.03%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE MTATRN 11/31 FIXED 6.548                                                                                    | CUSIP: 59259YCA5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    260000 | PA      | $274938.07    | 0.05%             | 2031-11-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| MFA 2022-INV2 Trust                                                             | MFRA TRUST MFRA 2022 INV2 A1 144A                                                                                                         | CUSIP: 55285UAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    314136 | PA      | $313098.98    | 0.06%             | 2057-07-25      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| MFA 2023-INV2 Trust                                                             | MFRA TRUST MFRA 2023 INV2 A2 144A                                                                                                         | CUSIP: 59319BAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80758 | PA      | $81761.29     | 0.01%             | 2058-10-25      | Variable      | 7.18%                 | No            |                  2 | On Loan: No      |
| MI Windows And Doors LLC                                                        | MI WINDOWS AND DOORS LLC 2024 TERM LOAN B2                                                                                                | CUSIP: 55336CAK8<br>LEI: 2549001JQBGDT0WEQ156 | Long             | LON              | CORP              | US        |    188409 | PA      | $189146.08    | 0.03%             | 2031-03-28      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Stagwell Global LLC                                                             | MIDAS OPCO HOLDINGS LLC COMPANY GUAR 144A 08/29 5.625                                                                                     | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168437.50    | 0.03%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Midcap Financial Issuer Trust                                                   | MIDCAP FINANCIAL ISSR TR SR UNSECURED 144A 05/28 6.5                                                                                      | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $397000.00    | 0.07%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC 2020-A                                               | MMAF EQUIPMENT FINANCE LLC MMAF 2020 A A4 144A                                                                                            | CUSIP: 60700MAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $96074.16     | 0.02%             | 2030-08-09      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare Inc                                                           | MOLINA HEALTHCARE INC SR UNSECURED 144A 01/33 6.25                                                                                        | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175875.00    | 0.03%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare Inc                                                           | MOLINA HEALTHCARE INC SR UNSECURED 144A 05/32 3.875                                                                                       | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    135000 | PA      | $120487.50    | 0.02%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust 2025-DSC2                        | MORGAN STANLEY RESIDENTIAL MOR MSRM 2025 DSC2 A1 144A                                                                                     | CUSIP: 61778XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    114472 | PA      | $115362.60    | 0.02%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust 2025-NQM5                        | MORGAN STANLEY RESIDENTIAL MOR MSRM 2025 NQM5 A1 144A                                                                                     | CUSIP: 61779BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325587 | PA      | $328117.66    | 0.06%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                  | MORGAN STANLEY SR UNSECURED 07/35 VAR                                                                                                     | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137182.95    | 0.02%             | 2035-07-19      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                                          | MOTOROLA SOLUTIONS INC SR UNSECURED 04/34 5.4                                                                                             | CUSIP: 620076BZ1<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153951.15    | 0.03%             | 2034-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                         | MPLX LP SR UNSECURED 01/33 5                                                                                                              | CUSIP: 55336VCB4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    330000 | PA      | $327123.72    | 0.06%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                         | MPLX LP SR UNSECURED 09/55 6.2                                                                                                            | CUSIP: 55336VCD0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    255000 | PA      | $246838.22    | 0.04%             | 2055-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corp                                 | MPT OPER PARTNERSP/FINL COMPANY GUAR 10/26 0.993                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $184229.22    | 0.03%             | 2026-10-15      | Fixed         | 0.99%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corp                                 | MPT OPER PARTNERSP/FINL SR SECURED 144A 02/32 8.5                                                                                         | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $256637.50    | 0.05%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust 2023-2                                           | MSWF COMMERCIAL MORTGAGE TRUST MSWF 2023 2 A5                                                                                             | CUSIP: 55361AAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $594515.08    | 0.11%             | 2056-12-15      | Variable      | 6.01%                 | No            |                  2 | On Loan: No      |
| MVW 2020-1 LLC                                                                  | MVW 2020 1 LLC MVWOT 2020 1A C 144A                                                                                                       | CUSIP: 55400EAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52148 | PA      | $51572.07     | 0.01%             | 2037-10-20      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| MVW 2023-1 LLC                                                                  | MVW OWNER TRUST MVWOT 2023 1A B 144A                                                                                                      | CUSIP: 62848PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42470 | PA      | $43018.72     | 0.01%             | 2040-10-20      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| MVW 2023-1 LLC                                                                  | MVW OWNER TRUST MVWOT 2023 1A C 144A                                                                                                      | CUSIP: 62848PAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42470 | PA      | $43626.71     | 0.01%             | 2040-10-20      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| National Fuel Gas Co                                                            | NATIONAL FUEL GAS CO SR UNSECURED 03/30 5.5                                                                                               | CUSIP: 636180BT7<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    236000 | PA      | $243580.56    | 0.04%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                                                    | NAVIENT CORP SR UNSECURED 03/31 11.5                                                                                                      | CUSIP: 63938CAP3<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    325000 | PA      | $368062.50    | 0.07%             | 2031-03-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Navient Corp                                                                    | NAVIENT CORP SR UNSECURED 06/32 7.875                                                                                                     | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    206000 | PA      | $215785.00    | 0.04%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| Navient Corp                                                                    | NAVIENT CORP SR UNSECURED 07/30 9.375                                                                                                     | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    500000 | PA      | $546250.00    | 0.10%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                                                    | NAVIENT CORP SR UNSECURED 08/33 5.625                                                                                                     | CUSIP: 78442FAZ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    156000 | PA      | $142740.00    | 0.03%             | 2033-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| Navient Private Education Refi Loan Trust 2019-C                                | NAVIENT STUDENT LOAN TRUST NAVSL 2019 CA B 144A                                                                                           | CUSIP: 63940YAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    151000 | PA      | $143572.51    | 0.03%             | 2068-02-15      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Owner Trust                               | NAVISTAR FINANCIAL DEALER NOTE NAVMT 2024 1 B 144A                                                                                        | CUSIP: 63938PBX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15000 | PA      | $15106.14     | 0.00%             | 2029-04-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Owner Trust                               | NAVISTAR FINANCIAL DEALER NOTE NAVMT 2024 1 C 144A                                                                                        | CUSIP: 63938PBY4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25169.25     | 0.00%             | 2029-04-25      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                                            | NEPTUNE BIDCO US INC 2022 USD TERM LOAN B                                                                                                 | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    337552 | PA      | $327425.33    | 0.06%             | 2029-04-11      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                                            | NEPTUNE BIDCO US INC SR SECURED 144A 04/29 9.29                                                                                           | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    410000 | PA      | $406925.00    | 0.07%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | NEPTUNE US BIDCO INC 2ND LIEN TERM LOAN                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    167349 | PA      | $164838.61    | 0.03%             | 2029-10-11      | Floating      | 14.18%                | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers Clo 43 Ltd                                       | NEUBERGER BERMAN CLO LTD NEUB 2021 43A AR 144A                                                                                            | CUSIP: 64134AAJ1<br>LEI: 549300N83MM16HCONB28 | Long             | ABS-CBDO         | CORP              | KY        |   1380000 | PA      | $1375686.30   | 0.25%             | 2036-07-17      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| New Economy Assets - Phase 1 Sponsor LLC                                        | NEW ECONOMY ASSETS PHASE 1 ISS USRE 2021 1 B1 144A                                                                                        | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $64515.79     | 0.01%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust 2025-NQM4                                   | NEW RESIDENTIAL MORTGAGE LOAN NRZT 2025 NQM4 A1 144A                                                                                      | CUSIP: 64832FAC0<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |   1307282 | PA      | $1318275.73   | 0.24%             | 2065-07-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| NYMT Loan Trust 2025-INV1                                                       | NEW YORK MORTGAGE TRUST NYMT 2025 INV1 A1 144A                                                                                            | CUSIP: 67120YAC3<br>LEI: 254900KJ201MTW2K6G74 | Long             | ABS-MBS          | CORP              | US        |    722563 | PA      | $726487.03    | 0.13%             | 2060-04-25      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc                                                               | NEWELL BRANDS INC SR UNSECURED 144A 06/28 8.5                                                                                             | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    139000 | PA      | $146818.75    | 0.03%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | NFL SR SECURED NOTE TC2P1E1R5                                                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $335000.00    | 0.06%             | 2030-10-05      | Fixed         | 4.78%                 | No            |                  3 | On Loan: No      |
| NGL Energy Operating LLC / NGL Energy Finance Corp                              | NGL ENRGY OP/FIN CORP SR SECURED 144A 02/32 8.375                                                                                         | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $177843.75    | 0.03%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Niagara Mohawk Power Corp                                                       | NIAGARA MOHAWK POWER SR UNSECURED 144A 07/55 5.996                                                                                        | CUSIP: 653522DV1<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |    725000 | PA      | $723484.75    | 0.13%             | 2055-07-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Niagara Mohawk Power Corp                                                       | NIAGARA MOHAWK POWER SR UNSECURED 144A 10/30 4.647                                                                                        | CUSIP: 653522DT6<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |    355000 | PA      | $356864.82    | 0.06%             | 2030-10-03      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co Ltd                                                             | NISSAN MOTOR CO SR UNSECURED 144A 07/30 7.5                                                                                               | CUSIP: 654922AB9<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    215000 | PA      | $224734.13    | 0.04%             | 2030-07-17      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NMEF Funding 2025-A LLC                                                         | NMEF FUNDING LLC NMEF 2025 A A2 144A                                                                                                      | CUSIP: 62919VAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $390875.78    | 0.07%             | 2032-07-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital XIV-B Ltd                                                    | NORTHWOODS CAPITAL LTD WOODS 2018 14BA AR 144A                                                                                            | CUSIP: 66860CAL7<br>LEI: 549300QQDSTCZ860F679 | Long             | ABS-CBDO         | CORP              | KY        |    155228 | PA      | $155460.64    | 0.03%             | 2031-11-13      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp                                                                | NTT FINANCE CORP SR UNSECURED 144A 07/32 5.171                                                                                            | CUSIP: 62954WAU9<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $204293.20    | 0.04%             | 2032-07-16      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp                                                                | NTT FINANCE CORP SR UNSECURED 144A 07/35 5.502                                                                                            | CUSIP: 62954WAV7<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    310000 | PA      | $317254.62    | 0.06%             | 2035-07-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp                                                       | OCCIDENTAL PETROLEUM COR SR UNSECURED 03/40 6.2                                                                                           | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    366000 | PA      | $359595.00    | 0.06%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp                                                       | OCCIDENTAL PETROLEUM COR SR UNSECURED 07/30 8.875                                                                                         | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    525000 | PA      | $603750.00    | 0.11%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp                                                       | OCCIDENTAL PETROLEUM COR SR UNSECURED 10/54 6.05                                                                                          | CUSIP: 674599EM3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    910000 | PA      | $845998.79    | 0.15%             | 2054-10-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| OCP CLO 2017-13 Ltd                                                             | OCP CLO LTD OCP 2017 13A B1R2 144A                                                                                                        | CUSIP: 67097LAX4<br>LEI: 254900M77QLN2EBJHE11 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $251661.88    | 0.04%             | 2037-11-26      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 47 Ltd                                              | OCTAGON INVESTMENT PARTNERS 47 OCT47 2020 1A A2R2 144A                                                                                    | CUSIP: 67576XAY6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    330000 | PA      | $332763.39    | 0.06%             | 2038-01-22      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 47 Ltd                                              | OCTAGON INVESTMENT PARTNERS 47 OCT47 2020 1A BR2 144A                                                                                     | CUSIP: 67576XBA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    325000 | PA      | $325662.91    | 0.06%             | 2038-01-22      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust 2023-1                                                 | OCTANE RECEIVABLES TRUST OCTL 2023 1A A 144A                                                                                              | CUSIP: 67571BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16985 | PA      | $17014.28     | 0.00%             | 2029-05-21      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust 2023-3                                                 | OCTANE RECEIVABLES TRUST OCTL 2023 3A C 144A                                                                                              | CUSIP: 67571CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102386.15    | 0.02%             | 2029-08-20      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust 2024-RVM1                                              | OCTANE RECEIVABLES TRUST OCTL 2024 RVM1 A 144A                                                                                            | CUSIP: 67579FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1043095 | PA      | $1055439.65   | 0.19%             | 2046-01-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| OneDigital Borrower LLC                                                         | ONEDIGITAL BORROWER LLC 2024 2ND LIEN TERM LOAN                                                                                           | CUSIP: 68252HAB0<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |    447838 | PA      | $451756.22    | 0.08%             | 2032-07-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| OneDigital Borrower LLC                                                         | ONEDIGITAL BORROWER LLC 2025 REPRICED TERM LOAN                                                                                           | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |    435000 | PA      | $434643.30    | 0.08%             | 2031-07-02      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp                                                            | ONEMAIN FINANCE CORP COMPANY GUAR 05/31 7.5                                                                                               | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47025.00     | 0.01%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OBX 2024-HYB1 Trust                                                             | ONSLOW BAY FINANCIAL LLC OBX 2024 HYB1 A1 144A                                                                                            | CUSIP: 67448MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     74970 | PA      | $73656.24     | 0.01%             | 2053-03-25      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM14 Trust                                                            | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM14 A1B 144A                                                                                          | CUSIP: 673924AB2<br>LEI: 254900T4WKE0IYMYAI09 | Long             | ABS-MBS          | CORP              | US        |    864417 | PA      | $860908.92    | 0.15%             | 2065-07-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM6 Trust                                                             | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM6 A1 144A                                                                                            | CUSIP: 67448UAA0<br>LEI: 254900W46UQEWQMYYZ02 | Long             | ABS-MBS          | CORP              | US        |   1305645 | PA      | $1318600.55   | 0.24%             | 2065-03-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM8 Trust                                                             | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM8 A1 144A                                                                                            | CUSIP: 67449AAA3<br>LEI: 2549006UJL1L84XG2C80 | Long             | ABS-MBS          | CORP              | US        |    929658 | PA      | $937529.67    | 0.17%             | 2065-03-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming GTA LP/OTG Co-Issuer Inc                                         | ONT GAMING GTA/OTG CO IS SR SECURED 144A 08/30 8                                                                                          | CUSIP: 68306MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    115000 | PA      | $115431.25    | 0.02%             | 2030-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming GTA LP                                                           | ONTARIO GAMING GTA LP TERM LOAN B                                                                                                         | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |    121685 | PA      | $117577.97    | 0.02%             | 2030-08-01      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Opal US LLC                                                                     | OPAL BIDCO SAS USD TERM LOAN B                                                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    655000 | PA      | $658275.00    | 0.12%             | 2032-04-28      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                                  | OPAL BIDCO SR SECURED 144A 03/32 6.5                                                                                                      | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    210000 | PA      | $213675.00    | 0.04%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Osaic Holdings Inc                                                              | OSAIC HOLDINGS INC COMPANY GUAR 144A 08/33 8                                                                                              | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182475.00    | 0.03%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Osaic Holdings Inc                                                              | OSAIC HOLDINGS INC SR SECURED 144A 08/32 6.75                                                                                             | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96425.00     | 0.02%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OZLM Funding II Ltd                                                             | OZLM FUNDING LTD OZLMF 2012 2A BR4 144A                                                                                                   | CUSIP: 67108BCJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1270000 | PA      | $1270231.57   | 0.23%             | 2037-07-30      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co                                                     | PACIFIC GAS + ELECTRIC 1ST MORTGAGE 07/50 4.95                                                                                            | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    205000 | PA      | $169850.09    | 0.03%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co                                                     | PACIFIC GAS + ELECTRIC 1ST MORTGAGE 08/50 3.5                                                                                             | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    213000 | PA      | $139236.61    | 0.02%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co                                                     | PACIFIC GAS + ELECTRIC 1ST MORTGAGE 10/54 5.9                                                                                             | CUSIP: 694308KT3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    134000 | PA      | $124928.47    | 0.02%             | 2054-10-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO 2021-1 Ltd                                                    | PALMER SQUARE CLO LTD PLMRS 2021 1A A1AR 144A                                                                                             | CUSIP: 69701WAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1335000 | PA      | $1334733.00   | 0.24%             | 2038-04-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                                       | PANTHER ESCROW ISSUER SR SECURED 144A 06/31 7.125                                                                                         | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $279112.50    | 0.05%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Paradigm Parent LLC                                                             | PARADIGM PARENT LLC 1ST LIEN TERM LOAN                                                                                                    | CUSIP: 69902BAB5<br>LEI: 254900EDT9YE5UFH3458 | Long             | LON              | CORP              | US        |    175000 | PA      | $156597.00    | 0.03%             | 2032-04-19      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| Paradigm Parent LLC and Paradigm Parent CO-Issuer Inc                           | PARADIGM PRNT/CO ISSUER SR SECURED 144A 04/32 8.75                                                                                        | CUSIP: 69902PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $157368.75    | 0.03%             | 2032-04-17      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Phoenix Newco Inc                                                               | PAREXEL INTERNATIONAL CORP 2025 TERM LOAN B                                                                                               | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    153389 | PA      | $153469.18    | 0.03%             | 2028-11-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Paychex Inc                                                                     | PAYCHEX INC SR UNSECURED 04/35 5.6                                                                                                        | CUSIP: 704326AC1<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206994.80    | 0.04%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PEAC Solutions Receivables 2025-1 LLC                                           | PEAC SOLUTIONS RECEIVABLES LLC PEAC 2025 1A A2 144A                                                                                       | CUSIP: 69392HAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335000 | PA      | $337097.20    | 0.06%             | 2028-10-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                                 | PERMIAN RESOURC OPTG LLC COMPANY GUAR 144A 02/33 6.25                                                                                     | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162400.00    | 0.03%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                                 | PERMIAN RESOURC OPTG LLC COMPANY GUAR 144A 07/31 9.875                                                                                    | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    108000 | PA      | $117450.00    | 0.02%             | 2031-07-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | PETROLEOS MEXICANOS COMPANY GUAR 02/33 10                                                                                                 | CUSIP: 71654QDP4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1220000 | PA      | $1366400.00   | 0.24%             | 2033-02-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| Petroleos Mexicanos                                                             | PETROLEOS MEXICANOS COMPANY GUAR 06/29 8.75                                                                                               | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1090000 | PA      | $1154037.50   | 0.21%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC                                                                    | PETSMART INC 2025 USD TERM LOAN B                                                                                                         | CUSIP: 71677HAN5<br>LEI: 894500NGJMHSFNESGA67 | Long             | LON              | CORP              | US        |     50000 | PA      | $49469.00     | 0.01%             | 2032-08-08      | Floating      | 8.36%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC / PetSmart Finance Corp                                            | PETSMART LLC/PETSMART FI SR SECURED 144A 09/32 7.5                                                                                        | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $246875.00    | 0.04%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PG&E Corp                                                                       | PG+E CORP JR SUBORDINA 03/55 VAR                                                                                                          | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    194000 | PA      | $193030.00    | 0.03%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Vibrantz Technologies Inc                                                       | PMHC II INC 2022 TERM LOAN B                                                                                                              | CUSIP: 69346EAG2<br>LEI: 549300GYZ1T3S8OPH343 | Long             | LON              | CORP              | US        |    156457 | PA      | $123634.27    | 0.02%             | 2029-04-23      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc/The                                            | PNC FINANCIAL SERVICES SR UNSECURED 07/36 VAR                                                                                             | CUSIP: 693475CE3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202446.80    | 0.04%             | 2036-07-21      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                            | PORT BEAUMONT TX NAV DIST DOCK PTBTRN 07/26 FIXED 10                                                                                      | CUSIP: 73360CAS3<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    135000 | PA      | $135796.49    | 0.02%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Post Road Equipment Finance 2024-1 LLC                                          | POST ROAD EQUIPMENT FINANCE PREF 2024 1A A2 144A                                                                                          | CUSIP: 737473AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54533 | PA      | $54834.62     | 0.01%             | 2029-11-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| Post Road Equipment Finance 2024-1 LLC                                          | POST ROAD EQUIPMENT FINANCE PREF 2024 1A C 144A                                                                                           | CUSIP: 737473AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101518.22    | 0.02%             | 2030-10-15      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Prairie Acquiror LP                                                             | PRAIRIE ACQUIROR LP SR SECURED 144A 08/29 9                                                                                               | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |    190000 | PA      | $197362.50    | 0.04%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Prairie Acquiror LP                                                             | PRAIRIE ECI ACQUIROR LP 2025 REPRICED TERM LOAN B                                                                                         | CUSIP: 73955HAF1<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |    153676 | PA      | $154521.03    | 0.03%             | 2029-08-01      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| Pro Mach Group Inc                                                              | PRO MACH GROUP INC 2025 TERM LOAN B                                                                                                       | CUSIP: 74273JAK9<br>LEI: 5493008SZGSVUCSNB151 | Long             | LON              | CORP              | US        |    139500 | PA      | $139837.96    | 0.02%             | 2028-08-31      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Progress Residential 2021-SFR8 Trust                                            | PROGRESS RESIDENTIAL TRUST PROG 2021 SFR8 E1 144A                                                                                         | CUSIP: 74333TAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    638000 | PA      | $621145.06    | 0.11%             | 2038-10-17      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Progress Residential 2025-SFR2 Trust                                            | PROGRESS RESIDENTIAL TRUST PROG 2025 SFR2 A 144A                                                                                          | CUSIP: 74334GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1634079 | PA      | $1554145.10   | 0.28%             | 2042-04-17      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | PROJECT ALPHA INTERME HLDG INC 2025 2ND LIEN INC TL                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    905000 | PA      | $901045.15    | 0.16%             | 2033-05-09      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| PSEG Power LLC                                                                  | PSEG POWER LLC SR UNSECURED 144A 05/30 5.2                                                                                                | CUSIP: 69362BBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $149139.17    | 0.03%             | 2030-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Public Service Co of Oklahoma                                                   | PUBLIC SERVICE OKLAHOMA SR UNSECURED 01/36 5.45                                                                                           | CUSIP: 744533BS8<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |    695000 | PA      | $702818.75    | 0.13%             | 2036-01-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/27 FIXED 5.625                                                                                                  | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |      3593 | PA      | $3715.10      | 0.00%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/29 FIXED 5.625                                                                                                  | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |      3535 | PA      | $3765.77      | 0.00%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/33 FIXED 4                                                                                                      | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |      3256 | PA      | $3183.00      | 0.00%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/33 ZEROCPNOID 0                                                                                                 | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |      4190 | PA      | $2929.17      | 0.00%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/35 FIXED 4                                                                                                      | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |      2926 | PA      | $2802.83      | 0.00%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/37 FIXED 4                                                                                                      | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |      2511 | PA      | $2329.75      | 0.00%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 07/41 FIXED 4                                                                                                      | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |      3415 | PA      | $2970.07      | 0.00%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH PRC 11/43 ADJUSTABLE VAR                                                                                               | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   2592214 | PA      | $1626614.21   | 0.29%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED AUD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | AU        |         1 | NC      | $172.37       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED AUD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | AU        |         1 | NC      | $7.67         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-2.58        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $65.51        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Bank N.A.                                                           | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $7430.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Bank N.A.                                                           | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $7216.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $2.94         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                     | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-523.35      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $7458.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                     | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $42670.49     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $18670.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $3062.06      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED BRL/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $29153.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                   | PURCHASED CAD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-3040.30     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America N.A.                                                            | PURCHASED CAD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $8403.78      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                   | PURCHASED CAD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-122.79      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                               | PURCHASED CAD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-161.62      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                   | PURCHASED CAD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-184.26      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                               | PURCHASED CAD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-187.64      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CHF/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CH        |         1 | NC      | $120.81       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CHF/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CH        |         1 | NC      | $11.66        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CLP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $-81.22       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                              | PURCHASED CLP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $2518.63      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                              | PURCHASED CLP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $2835.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                              | PURCHASED CLP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $3457.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CLP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $-1494.86     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CNH/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CN        |         1 | NC      | $16.32        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                                           | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $4976.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $444.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $29.67        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $297.90       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $2733.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $603.17       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                              | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $10384.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $38.92        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $68.56        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED COP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $120.54       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CZK/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $0.95         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CZK/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $9.21         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED CZK/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $1373.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $8.17         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $231711.49    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $56914.55     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $46.17        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                   | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $3309.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $92.32        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED EUR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $258.12       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED EUR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $4.26         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED EUR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $-244.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED GBP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $234.51       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED GBP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $77.80        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED GBP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $6.01         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED GBP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $6208.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED HUF/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $9209.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED HUF/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $2.78         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED HUF/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $1605.42      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED HUF/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $9.91         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED IDR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $-26.46       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED IDR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $-21.13       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED IDR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $-1574.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED ILS/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IL        |         1 | NC      | $-194.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED ILS/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IL        |         1 | NC      | $23.31        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED INR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $-27.19       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED INR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $-1657.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED INR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $-18.31       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                               | PURCHASED INR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $-8901.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED INR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $-27.26       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                     | PURCHASED JPY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $5794.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                  | PURCHASED JPY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $5145.78      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED KRW/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $-1.85        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                            | PURCHASED KRW/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $1844.53      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $77.03        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $-838.97      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $9992.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $49.42        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $3539.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $31.21        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED MXN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $-10.28       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED MYR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $-1.39        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED MYR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $-1745.62     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED MYR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $-130.39      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED NOK/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NO        |         1 | NC      | $66.57        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED NOK/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NO        |         1 | NC      | $21.01        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED NZD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NZ        |         1 | NC      | $-578.52      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED NZD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NZ        |         1 | NC      | $-260.37      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED NZD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NZ        |         1 | NC      | $13.81        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED NZD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NZ        |         1 | NC      | $-0.97        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED PEN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PE        |         1 | NC      | $63.85        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED PEN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PE        |         1 | NC      | $765.28       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED PHP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PH        |         1 | NC      | $-0.50        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED PHP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PH        |         1 | NC      | $-422.28      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED PLN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PL        |         1 | NC      | $2379.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED PLN/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PL        |         1 | NC      | $263.44       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED SEK/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SE        |         1 | NC      | $10.06        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED SGD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SG        |         1 | NC      | $0.19         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED SGD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SG        |         1 | NC      | $-1.73        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED THB/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $525.21       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED THB/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $-1.13        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED THB/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $-0.59        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED TRY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $3561.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED TRY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $-9.98        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED TRY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $106.35       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                               | PURCHASED TRY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $31611.60     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED TRY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $229.81       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED TWD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $-8283.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED TWD/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $40.39        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-6095.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-62.03       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-24.77       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-91.59       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-9647.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                     | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $163.93       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |         1 | NC      | $-7653.18     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-125.66      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-21.91       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of New York Mellon                                                         | PURCHASED USD/ SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $39355.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                                           | PURCHASED USD/ SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-38611.31    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $-2.72        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CA        |         1 | NC      | $474.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CHF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CH        |         1 | NC      | $-27.20       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                                                | PURCHASED USD/ SOLD CHF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CH        |         1 | NC      | $-378.24      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CHF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CH        |         1 | NC      | $-124.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CHF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CH        |         1 | NC      | $-15.84       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $-6.29        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $1496.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                                                | PURCHASED USD/ SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $109.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CL        |         1 | NC      | $83.09        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Bank N.A.                                                           | PURCHASED USD/ SOLD CNH                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CN        |         1 | NC      | $-11056.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CNH                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CN        |         1 | NC      | $-7.60        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CNH                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CN        |         1 | NC      | $-42.29       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-531.14      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-1354.78     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-17.06       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-564.01      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-2752.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-292.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |         1 | NC      | $-456.53      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CZK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $-7.20        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CZK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $-43.14       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CZK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $-4326.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD CZK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CZ        |         1 | NC      | $-1379.51     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED USD/ SOLD EGP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $-77502.44    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                   | PURCHASED USD/ SOLD EGP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $-46.57       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD EGP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $-5.59        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED USD/ SOLD EGP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $-72.62       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED USD/ SOLD EGP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |         1 | NC      | $-142180.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                   | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $-2167.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $-8586.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $-4.21        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |         1 | NC      | $-17.17       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD GBP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $-229.60      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD GBP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $-9.41        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD GBP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |         1 | NC      | $-1.88        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD HUF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $-23.46       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD HUF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $-19.54       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD HUF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $9.87         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD HUF                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | HU        |         1 | NC      | $-1622.62     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $12.46        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $10.90        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                            | PURCHASED USD/ SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $1540.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED USD/ SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |         1 | NC      | $877.03       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD ILS                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IL        |         1 | NC      | $-1776.61     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD ILS                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IL        |         1 | NC      | $-94.75       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD ILS                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IL        |         1 | NC      | $-47.52       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD ILS                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IL        |         1 | NC      | $187.42       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD INR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $966.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED USD/ SOLD INR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $1691.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD INR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | IN        |         1 | NC      | $25.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA INTERNATIONAL PLC                                                        | PURCHASED USD/ SOLD JPY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $-12002.09    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD JPY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $-5569.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD JPY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $-44.56       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD JPY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $-1260.02     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD KRW                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $-15.60       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD KRW                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $7.17         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD KRW                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $98.08        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                            | PURCHASED USD/ SOLD KRW                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $-2392.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                     | PURCHASED USD/ SOLD KRW                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KR        |         1 | NC      | $5344.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $-1.17        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MX        |         1 | NC      | $877.51       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED USD/ SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $1687.21      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED USD/ SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $1734.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED USD/ SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $300.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED USD/ SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |         1 | NC      | $-32.25       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD NOK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NO        |         1 | NC      | $-162.08      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD NOK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NO        |         1 | NC      | $-21.14       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                          | PURCHASED USD/ SOLD NZD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | NZ        |         1 | NC      | $402.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED USD/ SOLD PEN                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PE        |         1 | NC      | $-129.31      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD PEN                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PE        |         1 | NC      | $-62.23       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD PHP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PH        |         1 | NC      | $-551.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED USD/ SOLD PHP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PH        |         1 | NC      | $362.13       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                                                         | PURCHASED USD/ SOLD PHP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PH        |         1 | NC      | $-318.21      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD PLN                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PL        |         1 | NC      | $-263.19      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD PLN                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | PL        |         1 | NC      | $-2335.69     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD SEK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SE        |         1 | NC      | $-10.09       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD SEK                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SE        |         1 | NC      | $-68.17       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD SGD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SG        |         1 | NC      | $0.58         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD SGD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SG        |         1 | NC      | $-6.68        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD SGD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SG        |         1 | NC      | $-10.90       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED USD/ SOLD SGD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | SG        |         1 | NC      | $-5319.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $-4.17        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $10.32        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $-6.32        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                | PURCHASED USD/ SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $-800.57      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Bank N.A.                                                           | PURCHASED USD/ SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TH        |         1 | NC      | $2434.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $-5.38        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $-12.66       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |         1 | NC      | $-437.84      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $-33.63       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $1971.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $2043.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                        | PURCHASED USD/ SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $-166.74      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $1267.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TW        |         1 | NC      | $961.36       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |         1 | NC      | $-1.96        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED USD/ SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |         1 | NC      | $-6.44        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED ZAR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |         1 | NC      | $40.15        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED ZAR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |         1 | NC      | $2833.84      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                   | PURCHASED ZAR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |         1 | NC      | $51.92        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Qnity Electronics Inc                                                           | QNITY ELECTRONICS INC TERM LOAN B                                                                                                         | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |    115000 | PA      | $114641.20    | 0.02%             | 2032-08-12      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | QUALITYTECH LP TERM LOAN B                                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     49875 | PA      | $49999.69     | 0.01%             | 2031-10-30      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Quikrete Holdings Inc                                                           | QUIKRETE HOLDINGS INC 2025 TERM LOAN B                                                                                                    | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    266745 | PA      | $266579.88    | 0.05%             | 2032-01-30      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                           | QUIKRETE HOLDINGS INC SR SECURED 144A 03/32 6.375                                                                                         | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256875.00    | 0.05%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                           | QUIKRETE HOLDINGS INC SR UNSECURED 144A 03/33 6.75                                                                                        | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155062.50    | 0.03%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco LLC                                                              | RADIATE HOLDCO LLC 2025 FLFO TERM LOAN                                                                                                    | CUSIP: 75025KAK4<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |    179332 | PA      | $145856.10    | 0.03%             | 2029-09-25      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                         | RAIZEN FUELS FINANCE COMPANY GUAR 144A 03/34 6.45                                                                                         | CUSIP: 75102XAB2<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    540000 | PA      | $526328.82    | 0.09%             | 2034-03-05      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp                                                            | RANGE RESOURCES CORP COMPANY GUAR 144A 02/30 4.75                                                                                         | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92625.00     | 0.02%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Real Estate Asset Liquidity Trust                                               | REAL ESTATE ASSET LIQUIDITY TR REALT 2025 1A A1 144A                                                                                      | CUSIP: 75585RSS5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | CA        |   1857144 | PA      | $1349500.45   | 0.24%             | 2060-01-12      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Real Estate Asset Liquidity Trust                                               | REAL ESTATE ASSET LIQUIDITY TR REALT 2025 1A A2 144A                                                                                      | CUSIP: 75585RSU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | CA        |   1690000 | PA      | $1230542.98   | 0.22%             | 2060-01-12      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp                                                              | REALTY INCOME CORP SR UNSECURED 04/35 5.125                                                                                               | CUSIP: 756109CT9<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155728.97    | 0.03%             | 2035-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp                                                              | REGAL REXNORD CORP COMPANY GUAR 02/30 6.3                                                                                                 | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    580000 | PA      | $613775.14    | 0.11%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp                                                              | REGAL REXNORD CORP COMPANY GUAR 04/28 6.05                                                                                                | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41354.08     | 0.01%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Reinsurance Group of America Inc                                                | REINSURANCE GRP OF AMER SR UNSECURED 09/33 6                                                                                              | CUSIP: 759351AR0<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    243000 | PA      | $256949.42    | 0.05%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Reinsurance Group of America Inc                                                | REINSURANCE GRP OF AMER SUBORDINATED 09/55 VAR                                                                                            | CUSIP: 759351AT6<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254385.25    | 0.05%             | 2055-09-15      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| Rentokil Terminix Funding LLC                                                   | RENTOKIL TERMINIX LLC COMPANY GUAR 144A 04/30 5                                                                                           | CUSIP: 760130AA2<br>LEI: 984500D5BAA7560EKJ44 | Long             | DBT              | CORP              | US        |    850000 | PA      | $863288.05    | 0.15%             | 2030-04-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guatemala Government Bond                                                       | REPUBLIC OF GUATEMALA SR UNSECURED 144A 08/36 6.25                                                                                        | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    825000 | PA      | $846656.25    | 0.15%             | 2036-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Guatemala Government Bond                                                       | REPUBLIC OF GUATEMALA SR UNSECURED 144A 08/55 6.875                                                                                       | CUSIP: 401494BB4<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $201250.00    | 0.04%             | 2055-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Montenegro Government International Bond                                        | REPUBLIC OF MONTENEGRO SR UNSECURED 144A 03/31 7.25                                                                                       | CUSIP: 857305AA4<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |   1345000 | PA      | $1417293.75   | 0.25%             | 2031-03-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Montenegro Government International Bond                                        | REPUBLIC OF MONTENEGRO SR UNSECURED REGS 03/31 7.25                                                                                       | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |    480000 | PA      | $505800.00    | 0.09%             | 2031-03-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RFS OPCO LLC                                                                    | RFS OPCO LLC                                                                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    100000 | PA      | $97500.00     | 0.02%             | 2031-04-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| N/A                                                                             | RFS OPCO LLC DELAYED DRAW TERM LOAN                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19950 | PA      | $19808.36     | 0.00%             | 2031-04-04      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| RFS OPCO LLC                                                                    | RFS OPCO LLC TERM LOAN                                                                                                                    | CUSIP: 74970UAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     34738 | PA      | $34490.86     | 0.01%             | 2031-04-04      | Floating      | 9.05%                 | No            |                  3 | On Loan: No      |
| Rivian Automotive Inc                                                           | RIVIAN AUTO INC SR UNSECURED 144A 03/29 4.625                                                                                             | CUSIP: 76954AAB9<br>LEI: 25490004LNKJ84MFYY24 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44915.58     | 0.01%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                            | RIVIAN HLD/AUTO LLC SR SECURED 144A 01/31 10                                                                                              | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    580000 | PA      | $546650.00    | 0.10%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Rockford Tower CLO 2022-2 Ltd                                                   | ROCKFORD TOWER CLO LTD ROCKT 2022 2A CR 144A                                                                                              | CUSIP: 77340LAR1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1475000 | PA      | $1496350.51   | 0.27%             | 2035-10-20      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                          | ROMANIA BONDS 144A 05/36 6.625                                                                                                            | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    828000 | PA      | $825839.75    | 0.15%             | 2036-05-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                          | ROMANIA SR UNSECURED 144A 09/30 5.75                                                                                                      | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    990000 | PA      | $997729.92    | 0.18%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RR 34 LTD                                                                       | RR LTD RRAM 2024 34RA A2AR 144A                                                                                                           | CUSIP: 74988WAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250251.64    | 0.04%             | 2039-10-15      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                                  | SABRE GLBL INC 2024 TERM LOAN B1                                                                                                          | CUSIP: 78571YBK5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    192706 | PA      | $183552.74    | 0.03%             | 2029-11-15      | Floating      | 10.42%                | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                                  | SABRE GLBL INC SR SECURED 144A 07/30 11.125                                                                                               | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117600.00    | 0.02%             | 2030-07-15      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                                  | SABRE GLBL INC SR SECURED 144A 11/29 10.75                                                                                                | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92268.75     | 0.02%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: —       |
| Sandisk Corp/DE                                                                 | SANDISK CORP TERM LOAN B                                                                                                                  | CUSIP: 80004YAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    458636 | PA      | $456916.55    | 0.08%             | 2032-02-20      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes Series 2023-B                           | SANTANDER BANK AUTO CREDIT LIN SBCLN 2023 B C 144A                                                                                        | CUSIP: 80290CCC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    149847 | PA      | $151329.46    | 0.03%             | 2033-12-15      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes Series 2024-A                           | SANTANDER BANK AUTO CREDIT LIN SBCLN 2024 A B 144A                                                                                        | CUSIP: 80290CCJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    194329 | PA      | $196243.01    | 0.04%             | 2032-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes Series 2024-B                           | SANTANDER BANK AUTO CREDIT LIN SBCLN 2024 B B 144A                                                                                        | CUSIP: 80280BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501540.85    | 0.09%             | 2033-01-18      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust 2022-5                                   | SANTANDER DRIVE AUTO RECEIVABL SDART 2022 5 C                                                                                             | CUSIP: 80287HAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19741 | PA      | $19755.66     | 0.00%             | 2028-10-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust 2022-6                                   | SANTANDER DRIVE AUTO RECEIVABL SDART 2022 6 C                                                                                             | CUSIP: 802918AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43381 | PA      | $43424.21     | 0.01%             | 2028-11-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust 2025-2                                   | SANTANDER DRIVE AUTO RECEIVABL SDART 2025 2 B                                                                                             | CUSIP: 80287NAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    675000 | PA      | $683071.25    | 0.12%             | 2031-05-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust 2025-2                                   | SANTANDER DRIVE AUTO RECEIVABL SDART 2025 2 C                                                                                             | CUSIP: 80287NAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    675000 | PA      | $686444.69    | 0.12%             | 2031-05-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust 2025-NQM2                             | SANTANDER MORTGAGE ASSET RECEI SAN 2025 NQM2 A1 144A                                                                                      | CUSIP: 802638AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    577527 | PA      | $583320.71    | 0.10%             | 2065-02-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                                                 | SBA TOWER TRUST ASSET BACKED 144A 10/29 4.831                                                                                             | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $505931.84    | 0.09%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Lease Trust 2025-A                                                    | SBNA AUTO LEASE TRUST SBALT 2025 A A4 144A                                                                                                | CUSIP: 78437KAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    705000 | PA      | $712762.47    | 0.13%             | 2029-07-20      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Leasing 2022-1 LLC                                                | SCF EQUIPMENT TRUST LLC SCFET 2022 1A B 144A                                                                                              | CUSIP: 784033AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1118106 | PA      | $1111803.20   | 0.20%             | 2030-10-21      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Leasing 2024-1 LLC                                                | SCF EQUIPMENT TRUST LLC SCFET 2024 1A D 144A                                                                                              | CUSIP: 783896AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $131560.96    | 0.02%             | 2033-06-21      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| Scripps Escrow II Inc                                                           | SCRIPPS ESCROW II INC SR SECURED 144A 01/29 3.875                                                                                         | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $101775.00    | 0.02%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| SDR Commercial Mortgage Trust 2024-DSNY                                         | SDR COMMERCIAL MORTGAGE TRUST SDR 2024 DSNY B 144A                                                                                        | CUSIP: 811304AE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99875.05     | 0.02%             | 2039-05-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                                                 | SEB FUNDING LLC SEB4P 2024 1A A2 144A                                                                                                     | CUSIP: 78433DAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $148805.22    | 0.03%             | 2054-04-30      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                         | SECURITIZED TERM AUTO RECEIVAB SSTRT 2025 A B 144A                                                                                        | CUSIP: 81378RAB0<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |     48088 | PA      | $48469.49     | 0.01%             | 2031-07-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2019-5                                                   | SEQUOIA MORTGAGE TRUST SEMT 2019 5 B3 144A                                                                                                | CUSIP: 81743ACD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    408275 | PA      | $373344.08    | 0.07%             | 2049-12-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-HYB1                                                | SEQUOIA MORTGAGE TRUST SEMT 2024 HYB1 A1A 144A                                                                                            | CUSIP: 81749EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    234954 | PA      | $236300.75    | 0.04%             | 2063-11-25      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                        | SERVICE PROPERTIES TRUST COMPANY GUAR 06/32 8.875                                                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180250.00    | 0.03%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| Service Properties Trust                                                        | SERVICE PROPERTIES TRUST SR SECURED 144A 11/31 8.625                                                                                      | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    480000 | PA      | $510000.00    | 0.09%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust 2024-1                                | SFS AUTO RECEIVABLES SECURITIZ SFAST 2024 1A B 144A                                                                                       | CUSIP: 78435VAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $174175.03    | 0.03%             | 2031-01-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust 2024-1                                | SFS AUTO RECEIVABLES SECURITIZ SFAST 2024 1A C 144A                                                                                       | CUSIP: 78435VAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15000 | PA      | $15376.77     | 0.00%             | 2032-01-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust 2025-1                                | SFS AUTO RECEIVABLES SECURITIZ SFAST 2025 1A C 144A                                                                                       | CUSIP: 81885BAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    385000 | PA      | $393985.63    | 0.07%             | 2032-10-20      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Shackleton 2019-XIV Clo Ltd                                                     | SHACKLETON CLO LTD SHACK 2019 14A BRR 144A                                                                                                | CUSIP: 81880XAY8<br>LEI: 549300HOHPZON6E4VH77 | Long             | ABS-CBDO         | CORP              | KY        |   1010000 | PA      | $1011414.83   | 0.18%             | 2034-07-20      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Sierra Timeshare 2022-3 Receivables Funding LLC                                 | SIERRA RECEIVABLES FUNDING CO SRFC 2022 3A B 144A                                                                                         | CUSIP: 826934AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     56890 | PA      | $58226.56     | 0.01%             | 2039-07-20      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO 5 Ltd                                                           | SIGNAL PEAK CLO, LLC SPEAK 2018 5A BR 144A                                                                                                | CUSIP: 82666VAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $250720.02    | 0.04%             | 2037-04-25      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group Inc                                                   | SINCLAIR TELEVISION GROUP INC 2025 TERM LOAN B6                                                                                           | CUSIP: 829229AU7<br>LEI: 549300CQGEN0CH65UD62 | Long             | LON              | CORP              | US        |    120000 | PA      | $107820.00    | 0.02%             | 2029-12-31      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                             | SIRIUS XM RADIO LLC COMPANY GUAR 144A 07/28 4                                                                                             | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4812.50      | 0.00%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                             | SOCIETE GENERALE 144A 01/34 VAR                                                                                                           | CUSIP: 83368RBS0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    575000 | PA      | $622213.25    | 0.11%             | 2034-01-10      | Variable      | 6.69%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                             | SOCIETE GENERALE COMPANY GUAR 144A 01/28 VAR                                                                                              | CUSIP: 83368RBH4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    325000 | PA      | $316581.53    | 0.06%             | 2028-01-19      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                             | SOCIETE GENERALE COMPANY GUAR 144A 04/29 VAR                                                                                              | CUSIP: 83368RCC4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    800000 | PA      | $817000.00    | 0.15%             | 2029-04-13      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                             | SOCIETE GENERALE SUBORDINATED 144A 01/53 7.367                                                                                            | CUSIP: 83368RBT8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    510000 | PA      | $534671.76    | 0.10%             | 2053-01-10      | Fixed         | 7.37%                 | No            |                  2 | On Loan: No      |
| Solventum Corp                                                                  | SOLVENTUM CORP COMPANY GUAR 03/31 5.45                                                                                                    | CUSIP: 83444MAQ4<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    655000 | PA      | $685077.60    | 0.12%             | 2031-03-13      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Solventum Corp                                                                  | SOLVENTUM CORP COMPANY GUAR 03/34 5.6                                                                                                     | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    470000 | PA      | $486045.80    | 0.09%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Solventum Corp                                                                  | SOLVENTUM CORP COMPANY GUAR 04/54 5.9                                                                                                     | CUSIP: 83444MAS0<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    445000 | PA      | $444108.22    | 0.08%             | 2054-04-30      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| Sonic Capital LLC                                                               | SONIC CAPITAL LLC SONIC 2020 1A A2I 144A                                                                                                  | CUSIP: 83546DAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    308750 | PA      | $303369.25    | 0.05%             | 2050-01-20      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| SOUND POINT CLO XXII LTD                                                        | SOUND POINT CLO LTD SNDPT 2019 1A BRR 144A                                                                                                | CUSIP: 83611KAY8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250291.22    | 0.04%             | 2032-01-20      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| South Bow USA Infrastructure Holdings LLC                                       | SOUTH BOW USA INFRA HLDS COMPANY GUAR 10/29 5.026                                                                                         | CUSIP: 83007CAD4<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115993.14    | 0.02%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| South32 Treasury Ltd                                                            | SOUTH32 TREASURY LTD COMPANY GUAR 144A 04/32 4.35                                                                                         | CUSIP: 84055BAA1<br>LEI: 213800HFGZMXST64GP53 | Long             | DBT              | CORP              | AU        |   1221000 | PA      | $1159974.42   | 0.21%             | 2032-04-14      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Southern California Gas Co                                                      | SOUTHERN CALIF GAS CO 1ST MORTGAGE 06/35 5.45                                                                                             | CUSIP: 842434DC3<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    265000 | PA      | $271700.79    | 0.05%             | 2035-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | SP500 MIC EMIN FUTSEP25 XCME 20250919                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        11 | NC      | $-924.50      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Star Parent Inc                                                                 | STAR PARENT INC SR SECURED 144A 10/30 9                                                                                                   | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    160000 | PA      | $169400.00    | 0.03%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics Inc                                                              | STEEL DYNAMICS INC SR UNSECURED 05/35 5.25                                                                                                | CUSIP: 858119BS8<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    470000 | PA      | $474259.61    | 0.08%             | 2035-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                       | SUNOCO LP COMPANY GUAR 144A 05/32 7.25                                                                                                    | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    140000 | PA      | $147875.00    | 0.03%             | 2032-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Sutter Health                                                                   | SUTTER HEALTH UNSECURED 08/32 5.213                                                                                                       | CUSIP: 86944BAP8<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129261.88    | 0.02%             | 2032-08-15      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Sutter Health                                                                   | SUTTER HEALTH UNSECURED 08/35 5.537                                                                                                       | CUSIP: 86944BAQ6<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |    390000 | PA      | $405347.67    | 0.07%             | 2035-08-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Swiss RE Subordinated Finance PLC                                               | SWISS RE SUB FIN PLC COMPANY GUAR 144A 04/46 VAR                                                                                          | CUSIP: 87088QAB0<br>LEI: 636700H29EH5Z8ZU8L04 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $602627.40    | 0.11%             | 2046-04-01      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Symphony CLO XVI Ltd                                                            | SYMPHONY CLO LTD SYMP 2015 16A ARR 144A                                                                                                   | CUSIP: 87165VAX7<br>LEI: 5493004PWOYFPAFQVT02 | Long             | ABS-CBDO         | CORP              | KY        |    155879 | PA      | $155917.30    | 0.03%             | 2031-10-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                    | SYNOPSYS INC SR UNSECURED 04/55 5.7                                                                                                       | CUSIP: 871607AG2<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    400000 | PA      | $392629.20    | 0.07%             | 2055-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| T Rowe Price Institutional Floating Rate Fund                                   | T ROWE PRICE INSTITUTIONAL FLO T ROWE PR INST FLTNG RT Z                                                                                  | CUSIP: 77958B873<br>LEI: 863VOPTBPYYVTH00FU88 | Long             | EC               | RF                | US        |    603560 | NS      | $5685539.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund                                           | T. Rowe Price Government Reserve Fund                                                                                                     | CUSIP: 000000000<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |   9841781 | NS      | $9841781.11   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund                                           | T. Rowe Price Government Reserve Fund - Collateral                                                                                        | CUSIP: 76105YYY8<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |   8539205 | NS      | $8539205.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Supply LLC                                                         | TALEN ENERGY SUPPLY LLC 2024 INCREMENTAL TERM LOAN B                                                                                      | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    193888 | PA      | $194372.56    | 0.03%             | 2031-12-13      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                         | TALEN ENERGY SUPPLY LLC SR SECURED 144A 06/30 8.625                                                                                       | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    325000 | PA      | $346125.00    | 0.06%             | 2030-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                         | TALEN ENERGY SUPPLY, LLC 2023 TERM LOAN B                                                                                                 | CUSIP: 87422LAV2<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    433841 | PA      | $434743.04    | 0.08%             | 2030-05-17      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | TALLGRASS NRG PRTNR/FIN SR UNSECURED 144A 02/29 7.375                                                                                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $143500.00    | 0.03%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp                                                            | TARGA RESOURCES CORP COMPANY GUAR 08/35 5.55                                                                                              | CUSIP: 87612GAM3<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1230339.50   | 0.22%             | 2035-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Targa Resources Partners LP / Targa Resources Partners Finance Corp             | TARGA RESOURCES PARTNERS COMPANY GUAR 03/30 5.5                                                                                           | CUSIP: 87612BBQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $42713.83     | 0.01%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                                                           | TENET HEALTHCARE CORP SR UNSECURED 11/31 6.875                                                                                            | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    175000 | PA      | $187468.75    | 0.03%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes Series 2024-1                          | THE HUNTINGTON NATIONAL BANK HACLN 2024 1 B1 144A                                                                                         | CUSIP: 44644NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    133504 | PA      | $135455.95    | 0.02%             | 2032-05-20      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes Series 2024-2                          | THE HUNTINGTON NATIONAL BANK HACLN 2024 2 B1 144A                                                                                         | CUSIP: 44644NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    167632 | PA      | $168909.41    | 0.03%             | 2032-10-20      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes Series 2025-1                          | THE HUNTINGTON NATIONAL BANK HACLN 2025 1 B 144A                                                                                          | CUSIP: 446438SX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    807205 | PA      | $811487.21    | 0.14%             | 2033-03-21      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                                           | TIME WARNER CABLE LLC SR SECURED 05/37 6.55                                                                                               | CUSIP: 88732JAJ7<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    740000 | PA      | $764977.22    | 0.14%             | 2037-05-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| TK Elevator US Newco Inc                                                        | TK ELEVATOR MIDCO GMBH 2025 USD TERM LOAN B                                                                                               | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | DE        |    467176 | PA      | $468689.77    | 0.08%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| UFC Holdings LLC                                                                | TKO WORLDWIDE HOLDINGS, LLC 2024 TERM LOAN B4                                                                                             | CUSIP: 90266UAK9<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    149113 | PA      | $149463.26    | 0.03%             | 2031-11-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust 2024-3                                                | TOWD POINT MORTGAGE TRUST TPMT 2024 3 A1B 144A                                                                                            | CUSIP: 89183FAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     78050 | PA      | $79774.05     | 0.01%             | 2065-07-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust 2024-5                                                | TOWD POINT MORTGAGE TRUST TPMT 2024 5 A1B 144A                                                                                            | CUSIP: 891944AB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1271717 | PA      | $1263687.26   | 0.23%             | 2064-10-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust 2025-1                                                | TOWD POINT MORTGAGE TRUST TPMT 2025 1 A1A 144A                                                                                            | CUSIP: 89190KAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    541081 | PA      | $545343.97    | 0.10%             | 2065-06-25      | Variable      | 4.76%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust 2025-1                                                | TOWD POINT MORTGAGE TRUST TPMT 2025 1 A1B 144A                                                                                            | CUSIP: 89190KAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    272978 | PA      | $273578.96    | 0.05%             | 2065-06-25      | Variable      | 4.76%                 | No            |                  2 | On Loan: No      |
| Townsquare Media Inc                                                            | TOWNSQUARE MEDIA INC 2025 TERM LOAN                                                                                                       | CUSIP: 89223EAG8<br>LEI: 549300XBA8C68H0DR538 | Long             | LON              | CORP              | US        |    163969 | PA      | $145932.19    | 0.03%             | 2030-02-19      | Floating      | 9.19%                 | No            |                  3 | On Loan: No      |
| Toyota Lease Owner Trust 2025-A                                                 | TOYOTA LEASE OWNER TRUST TLOT 2025 A A4 144A                                                                                              | CUSIP: 89239NAE5<br>LEI: 254900299R9KF5UH9O95 | Long             | ABS-O            | CORP              | US        |    610000 | PA      | $618204.38    | 0.11%             | 2029-06-20      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| TPIC SPV I LLC                                                                  | TPIC SPV LLC TPIC 2024 1A A 144A                                                                                                          | CUSIP: 872660AA3<br>LEI: 98450079E44D2D1B6432 | Long             | ABS-O            | CORP              | US        |    273054 | PA      | $273054.48    | 0.05%             | 2044-11-30      | Fixed         | 7.13%                 | Yes           |                  3 | On Loan: No      |
| TransDigm Inc                                                                   | TRANSDIGM INC 2025 TERM LOAN M                                                                                                            | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    250000 | PA      | $250057.50    | 0.04%             | 2032-08-13      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                                   | TRANSDIGM INC SR SECURED 144A 01/34 6.25                                                                                                  | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66543.75     | 0.01%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| TransDigm Inc                                                                   | TRANSDIGM INC SR SECURED 144A 12/30 6.875                                                                                                 | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129687.50    | 0.02%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                                   | TRANSDIGM INC SR SECURED 144A 12/31 7.125                                                                                                 | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    370000 | PA      | $385262.50    | 0.07%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                                   | TRANSDIGM INC SR SUBORDINA 144A 01/34 6.75                                                                                                | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    155000 | PA      | $159650.00    | 0.03%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Transocean Aquila Ltd                                                           | TRANSOCEAN AQUILA LTD SR SECURED 144A 09/28 8                                                                                             | CUSIP: 893790AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     69308 | PA      | $70953.75     | 0.01%             | 2028-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                                                                  | TRANSOCEAN INC COMPANY GUAR 144A 05/29 8.25                                                                                               | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     85000 | PA      | $82237.50     | 0.01%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                                                                  | TRANSOCEAN INC SR SECURED 144A 02/30 8.75                                                                                                 | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    208500 | PA      | $220228.13    | 0.04%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes 2019-SFR1 Trust                                           | TRICON AMERICAN HOMES TAH 2019 SFR1 D 144A                                                                                                | CUSIP: 89612LAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98973.58     | 0.02%             | 2038-03-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Tricon Residential 2021-SFR1 Trust                                              | TRICON RESIDENTIAL TCN 2021 SFR1 A 144A                                                                                                   | CUSIP: 89614YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    751166 | PA      | $734715.17    | 0.13%             | 2038-07-17      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| Tricon Residential 2024-SFR2 Trust                                              | TRICON RESIDENTIAL TCN 2024 SFR2 A 144A                                                                                                   | CUSIP: 89616VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     99807 | PA      | $100401.21    | 0.02%             | 2040-06-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Tricon Residential 2024-SFR2 Trust                                              | TRICON RESIDENTIAL TCN 2024 SFR2 D 144A                                                                                                   | CUSIP: 89616VAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $157293.92    | 0.03%             | 2040-06-17      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO VI Ltd                                                             | TRINITAS CLO LTD TRNTS 2017 6A ARRR 144A                                                                                                  | CUSIP: 89640YBN3<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1101397.00   | 0.20%             | 2034-01-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Trinitas Clo VII Ltd                                                            | TRINITAS CLO LTD TRNTS 2017 7A A1R2 144A                                                                                                  | CUSIP: 89641CAU5<br>LEI: 549300F3XEPDOX3FOP69 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998884.21    | 0.18%             | 2035-01-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| CRC Insurance Group LLC                                                         | TRUIST INSURANCE HOLDINGS LLC 2024 TERM LOAN B                                                                                            | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    259355 | PA      | $259354.84    | 0.05%             | 2031-05-06      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| CRC Insurance Group LLC                                                         | TRUIST INSURANCE HOLDINGS LLC 2ND LIEN TERM LOAN                                                                                          | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    534737 | PA      | $545431.58    | 0.10%             | 2032-05-06      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| US Bank NA                                                                      | U.S. BANK NATIONAL ASSOCIATION USCLN 2023 1 B 144A                                                                                        | CUSIP: 90357PAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     76091 | PA      | $76995.38     | 0.01%             | 2032-08-25      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                    | UBS GROUP AG SR UNSECURED 144A 05/32 VAR                                                                                                  | CUSIP: 225401AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1000000 | PA      | $921059.00    | 0.16%             | 2032-05-14      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                                         | UKG INC SR SECURED 144A 02/31 6.875                                                                                                       | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    315000 | PA      | $324843.75    | 0.06%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                                         | UKG, INC, 2024 TERM LOAN B                                                                                                                | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    880902 | PA      | $880171.33    | 0.16%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                                          | UNITEDHEALTH GROUP INC SR UNSECURED 06/35 5.3                                                                                             | CUSIP: 91324PFQ0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    265000 | PA      | $270511.47    | 0.05%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                                          | UNITEDHEALTH GROUP INC SR UNSECURED 06/55 5.95                                                                                            | CUSIP: 91324PFR8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149175.15    | 0.03%             | 2055-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                                    | UNIVISION COMMUNICATIONS SR SECURED 144A 07/31 8.5                                                                                        | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    115000 | PA      | $118162.50    | 0.02%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                                    | UNIVISION COMMUNICATIONS SR SECURED 144A 08/32 9.375                                                                                      | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    120000 | PA      | $126300.00    | 0.02%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | US 10YR FUT OPTN  OCT25P 112 EXP 09/26/2025                                                                                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       137 | NC      | $57796.88     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | US 10YR NOTE (CBT)DEC25 XCBT 20251219                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       -23 | NC      | $-11712.36    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | US 10YR ULTRA FUT DEC25 XCBT 20251219                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       976 | NC      | $425614.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | US 2YR FUTR OPTN OCT25P 103.75 EXP 09/26/2025                                                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       402 | NC      | $18844.15     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | US 2YR NOTE (CBT) DEC25 XCBT 20251231                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       375 | NC      | $96147.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                             | US 5YR NOTE (CBT) DEC25 XCBT 20251231                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |        86 | NC      | $33471.63     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                                                      | US BANCORP SUBORDINATED 07/33 VAR                                                                                                         | CUSIP: 91159HJG6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    142000 | PA      | $141036.25    | 0.03%             | 2033-07-22      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 01/30 4.25                                                                                                                | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1380000 | PA      | $1412559.38   | 0.25%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 01/32 4.375                                                                                                               | CUSIP: 91282CMK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10905000 | PA      | $11211703.13  | 2.00%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/30 4                                                                                                                   | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5955000 | PA      | $6038742.19   | 1.08%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/32 4.125                                                                                                               | CUSIP: 91282CMR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10890000 | PA      | $11040162.86  | 1.97%             | 2032-02-29      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/33 3.5                                                                                                                 | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    340000 | PA      | $329560.94    | 0.06%             | 2033-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/34 4                                                                                                                   | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3630000 | PA      | $3609155.85   | 0.64%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/35 4.625                                                                                                               | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1380000 | PA      | $1427383.60   | 0.25%             | 2035-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/42 2.375                                                                                                               | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     80000 | PA      | $57850.00     | 0.01%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/43 3.875                                                                                                               | CUSIP: 912810TQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    115000 | PA      | $102134.38    | 0.02%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/44 4.5                                                                                                                 | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    340000 | PA      | $325868.75    | 0.06%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/45 4.75                                                                                                                | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13685000 | PA      | $13481328.75  | 2.40%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/53 3.625                                                                                                               | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     30000 | PA      | $24009.38     | 0.00%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/54 4.25                                                                                                                | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    590000 | PA      | $527888.67    | 0.09%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 02/55 4.625                                                                                                               | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13245000 | PA      | $12628279.69  | 2.25%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 03/30 4                                                                                                                   | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4185000 | PA      | $4242543.75   | 0.76%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 03/32 4.125                                                                                                               | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3230000 | PA      | $3273529.29   | 0.58%             | 2032-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 04/30 3.875                                                                                                               | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9925000 | PA      | $10009517.53  | 1.79%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/30 4                                                                                                                   | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7465000 | PA      | $7569393.32   | 1.35%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/40 1.125                                                                                                               | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    395000 | PA      | $245517.19    | 0.04%             | 2040-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/42 3.25                                                                                                                | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    130000 | PA      | $106843.75    | 0.02%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/43 3.875                                                                                                               | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2020000 | PA      | $1790303.90   | 0.32%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/45 5                                                                                                                   | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3405000 | PA      | $3461661.31   | 0.62%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/53 3.625                                                                                                               | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    640000 | PA      | $511625.00    | 0.09%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/54 4.625                                                                                                               | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    425000 | PA      | $404862.31    | 0.07%             | 2054-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 05/55 4.75                                                                                                                | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1795000 | PA      | $1746408.79   | 0.31%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/30 4.125                                                                                                               | CUSIP: 91282CHW4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1130000 | PA      | $1151187.50   | 0.21%             | 2030-08-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/34 3.875                                                                                                               | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9325000 | PA      | $9142142.53   | 1.63%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/41 1.75                                                                                                                | CUSIP: 912810TA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    190000 | PA      | $125689.45    | 0.02%             | 2041-08-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/43 4.375                                                                                                               | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2995000 | PA      | $2831210.94   | 0.51%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/44 4.125                                                                                                               | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25660000 | PA      | $23305494.60  | 4.16%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/51 2                                                                                                                   | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1420000 | PA      | $800968.75    | 0.14%             | 2051-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/53 4.125                                                                                                               | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    405000 | PA      | $354707.23    | 0.06%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 08/54 4.25                                                                                                                | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14490000 | PA      | $12964587.85  | 2.31%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 10/29 4                                                                                                                   | CUSIP: 91282CFT3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    260000 | PA      | $263514.06    | 0.05%             | 2029-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 10/29 4.125                                                                                                               | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    515000 | PA      | $524334.38    | 0.09%             | 2029-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 11/28 4.375                                                                                                               | CUSIP: 91282CJN2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2340000 | PA      | $2394843.75   | 0.43%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 11/42 4                                                                                                                   | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    155000 | PA      | $140329.49    | 0.03%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 11/43 4.75                                                                                                                | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    655000 | PA      | $648884.96    | 0.12%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 11/44 4.625                                                                                                               | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7600000 | PA      | $7373484.36   | 1.32%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 11/52 4                                                                                                                   | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    280000 | PA      | $240198.44    | 0.04%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Note/Bond                                                | US TREASURY N/B 12/31 4.5                                                                                                                 | CUSIP: 91282CMC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7475000 | PA      | $7741004.90   | 1.38%             | 2031-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | US ULTRA BOND CBT DEC25 XCBT 20251219                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |      -141 | NC      | $75807.52     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| USI Inc/NY                                                                      | USI INC/NY SR UNSECURED 144A 01/32 7.5                                                                                                    | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |    330000 | PA      | $348975.00    | 0.06%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc                                                          | VENTURE GLOBAL LNG INC JR SUBORDINA 144A 12/99 VAR                                                                                        | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    550000 | PA      | $545187.50    | 0.10%             | 2174-03-30      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc                                                          | VENTURE GLOBAL LNG INC SR SECURED 144A 02/29 9.5                                                                                          | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    245000 | PA      | $269193.75    | 0.05%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc                                                          | VENTURE GLOBAL LNG INC SR SECURED 144A 02/32 9.875                                                                                        | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     15000 | PA      | $16312.50     | 0.00%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                              | VENTURE GLOBAL PLAQUE SR SECURED 144A 01/34 6.5                                                                                           | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    345000 | PA      | $358800.00    | 0.06%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                              | VENTURE GLOBAL PLAQUE SR SECURED 144A 01/36 6.75                                                                                          | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    260000 | PA      | $271700.00    | 0.05%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                              | VENTURE GLOBAL PLAQUE SR SECURED 144A 05/33 7.5                                                                                           | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $164437.50    | 0.03%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                              | VENTURE GLOBAL PLAQUE SR SECURED 144A 05/35 7.75                                                                                          | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    400000 | PA      | $445500.00    | 0.08%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Veon Midco BV                                                                   | VEON MIDCO BV SR UNSECURED REGS 11/27 3.375                                                                                               | CUSIP: 000000000<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |    610000 | PA      | $568062.50    | 0.10%             | 2027-11-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Verdant Receivables 2023-1 LLC                                                  | VERDANT RECEIVABLES LLC VERD 2023 1A A2 144A                                                                                              | CUSIP: 92339GAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     97766 | PA      | $99448.04     | 0.02%             | 2031-01-13      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| Verdant Receivables 2024-1 LLC                                                  | VERDANT RECEIVABLES LLC VERD 2024 1A A2 144A                                                                                              | CUSIP: 92339MAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     79342 | PA      | $80745.71     | 0.01%             | 2031-12-12      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                                            | VERIZON MASTER TRUST VZMT 2024 6 C                                                                                                        | CUSIP: 92348KDH3<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    665000 | PA      | $668073.76    | 0.12%             | 2030-08-20      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                                            | VERIZON MASTER TRUST VZMT 2025 3 C                                                                                                        | CUSIP: 92348KEB5<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1506751.20   | 0.27%             | 2030-03-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2021-1                                               | VERUS SECURITIZATION TRUST VERUS 2021 1 A3 144A                                                                                           | CUSIP: 92537QAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     86457 | PA      | $77704.51     | 0.01%             | 2066-01-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2021-R3                                              | VERUS SECURITIZATION TRUST VERUS 2021 R3 A1 144A                                                                                          | CUSIP: 92538EAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     27224 | PA      | $25899.64     | 0.00%             | 2064-04-25      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2022-4                                               | VERUS SECURITIZATION TRUST VERUS 2022 4 A1 144A                                                                                           | CUSIP: 92538NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     64804 | PA      | $64516.21     | 0.01%             | 2067-04-25      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2023-1                                               | VERUS SECURITIZATION TRUST VERUS 2023 1 A1 144A                                                                                           | CUSIP: 92539BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     64783 | PA      | $64741.66     | 0.01%             | 2067-12-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2025-2                                               | VERUS SECURITIZATION TRUST VERUS 2025 2 A1 144A                                                                                           | CUSIP: 92540VAA3<br>LEI: 213800TTP1CNX4WER720 | Long             | ABS-MBS          | CORP              | US        |    627680 | PA      | $630964.95    | 0.11%             | 2070-03-25      | Variable      | 5.31%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2025-INV1                                            | VERUS SECURITIZATION TRUST VERUS 2025 INV1 A3 144A                                                                                        | CUSIP: 924929AE2<br>LEI: 213800YO7QOQOFRSRN78 | Long             | ABS-MBS          | CORP              | US        |    254702 | PA      | $256786.89    | 0.05%             | 2070-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Viasat Inc                                                                      | VIASAT INC SR UNSECURED 144A 05/31 7.5                                                                                                    | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98175.00     | 0.02%             | 2031-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Viasat Inc                                                                      | VIASAT INC TERM LOAN                                                                                                                      | CUSIP: 92555WAD7<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |    164154 | PA      | $162899.70    | 0.03%             | 2029-03-02      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust 2020-2                                         | VISTA POINT SECURITIZATION TRU VSTA 2020 2 A1 144A                                                                                        | CUSIP: 92838TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13058 | PA      | $12568.75     | 0.00%             | 2065-04-25      | Variable      | 1.48%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                                                                     | VISTRA CORP JR SUBORDINA 144A 12/99 VAR                                                                                                   | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1653000.00   | 0.29%             | 2174-07-15      | Variable      | 8.88%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                                                                     | VISTRA CORP JR SUBORDINA 144A VAR                                                                                                         | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    419000 | PA      | $427380.00    | 0.08%             | 2174-04-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                        | VISTRA OPERATIONS CO LLC SR SECURED 144A 10/33 6.95                                                                                       | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    490000 | PA      | $540604.26    | 0.10%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                        | VISTRA OPERATIONS CO LLC SR SECURED 144A 12/34 5.7                                                                                        | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16369.63     | 0.00%             | 2034-12-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Vital Energy Inc                                                                | VITAL ENERGY INC COMPANY GUAR 10/30 9.75                                                                                                  | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    155000 | PA      | $160812.50    | 0.03%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VNDO Trust 2016-350P                                                            | VNO MORTGAGE TRUST VNDO 2016 350P D 144A                                                                                                  | CUSIP: 91831UAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105000 | PA      | $102582.43    | 0.02%             | 2035-01-10      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 03/30 5.35                                                                                     | CUSIP: 928668CQ3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    315000 | PA      | $323183.07    | 0.06%             | 2030-03-27      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Voya CLO 2018-3 Ltd                                                             | VOYA CLO LTD VOYA 2018 3A A1R2 144A                                                                                                       | CUSIP: 92917KAQ7<br>LEI: 54930068MLVF3BECCK93 | Long             | ABS-CBDO         | CORP              | KY        |    152698 | PA      | $152734.33    | 0.03%             | 2031-10-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Voyager Parent LLC                                                              | VOYAGER PARENT LLC SR SECURED 144A 07/32 9.25                                                                                             | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    225000 | PA      | $236250.00    | 0.04%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Wand NewCo 3 Inc                                                                | WAND NEWCO 3 INC 2025 REPRICED TERM LOAN B                                                                                                | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    285720 | PA      | $285042.98    | 0.05%             | 2031-01-30      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Wand NewCo 3 Inc                                                                | WAND NEWCO 3 INC SR SECURED 144A 01/32 7.625                                                                                              | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    140000 | PA      | $147525.00    | 0.03%             | 2032-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| WB Commercial Mortgage Trust 2024-HQ                                            | WB COMMERCIAL MORTGAGE TRUST WB 2024 HQ A 144A                                                                                            | CUSIP: 92943PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100178.99    | 0.02%             | 2040-03-15      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| WEC US Holdings Inc                                                             | WEC US HOLDINGS LTD. 2024 TERM LOAN                                                                                                       | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |    143150 | PA      | $143125.42    | 0.03%             | 2031-01-27      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                                                | WELLS FARGO + COMPANY SR UNSECURED 02/31 VAR                                                                                              | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    115000 | PA      | $106514.61    | 0.02%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                                                | WELLS FARGO + COMPANY SR UNSECURED 04/31 VAR                                                                                              | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1428799.07   | 0.25%             | 2031-04-23      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                                                | WELLS FARGO + COMPANY SR UNSECURED 04/51 VAR                                                                                              | CUSIP: 95000U2M4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    890000 | PA      | $800082.41    | 0.14%             | 2051-04-04      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                                                | WELLS FARGO + COMPANY SR UNSECURED 10/34 VAR                                                                                              | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    410000 | PA      | $449548.19    | 0.08%             | 2034-10-23      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                                                | WHEELS FLEET LEASE FUNDING LLC WFLF 2025 1A A1 144A                                                                                       | CUSIP: 96328GCE5<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    775000 | PA      | $781022.68    | 0.14%             | 2040-01-18      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                                                | WHEELS FLEET LEASE FUNDING LLC WFLF 2025 1A C 144A                                                                                        | CUSIP: 96328GCH8<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    840000 | PA      | $851622.07    | 0.15%             | 2040-01-18      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| THL Credit Wind River 2019-3 Clo Ltd                                            | WIND RIVER CLO LTD WINDR 2019 3A CR2 144A                                                                                                 | CUSIP: 97314JAN5<br>LEI: 549300QKM4OHZM4I5C40 | Long             | ABS-CBDO         | CORP              | KY        |    190000 | PA      | $190401.80    | 0.03%             | 2031-04-15      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Wolfspeed Inc                                                                   | WOLFSPEED INC SR SECURED 144A 06/30 12.875                                                                                                | CUSIP: 977852AE2<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |    170000 | PA      | $181114.60    | 0.03%             | 2030-06-23      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2024-CES8                                                   | WOODWARD CAPITAL MANAGEMENT RCKT 2024 CES8 A1A 144A                                                                                       | CUSIP: 749421AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    182452 | PA      | $183873.28    | 0.03%             | 2044-11-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2025-CES3                                                   | WOODWARD CAPITAL MANAGEMENT RCKT 2025 CES3 A1A 144A                                                                                       | CUSIP: 749420AA3<br>LEI: 254900HS4CN69R7ARQ97 | Long             | ABS-O            | CORP              | US        |   1289973 | PA      | $1303208.61   | 0.23%             | 2055-03-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| X Corp                                                                          | X CORP 2025 FIXED TERM LOAN                                                                                                               | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    265000 | PA      | $260314.80    | 0.05%             | 2029-10-26      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Yum  Brands Inc                                                                 | YUM  BRANDS INC SR UNSECURED 04/32 5.375                                                                                                  | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100250.00    | 0.02%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Zaxbys Funding LLC                                                              | ZAXBY S FUNDING LLC ZAXBY 2021 1A A2 144A                                                                                                 | CUSIP: 98920MAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1248000 | PA      | $1174677.26   | 0.21%             | 2051-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-02

**Name of Applicant:** T. Rowe Price Exchange-Traded Funds, Inc.

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President