# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0002071691-26-001803
**Filing Date:** 2026-1
**Character Count:** 1004776
**Document Hash:** f97d4419ca87bf1374debe3e8ce8fd70
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-001803.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0002071691-26-001803

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 26571320

**BUSINESS ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (Series ID: S000054488)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000171065 | JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | BBHY            |

## Nport-Ex

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**Schedule of Portfolio Investments as of November 30, 2025**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS" <br> LIST ("the List") IS TO BE USED FOR REPORTING PURPOSES <br> ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS <br> ADVERTISING OR SALES LITERATURE WITH THE GENERAL <br> PUBLIC. The list is submitted for the general information of the <br> shareholders of the Fund. It is not authorized for distribution to <br> prospective investors in the Fund unless preceded or accompanied by a <br> prospectus. The list has been created from the books and records of <br> the Fund. Holdings are available 60 days after the fund's fiscal quarter, <br> using a trade date accounting convention, by contacting the appropriate <br> service center. The list is subject to change without notice. The list is <br> for informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2025. |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — 97.4%** | **Corporate Bonds — 97.4%** | **Corporate Bonds — 97.4%** |
| **Aerospace & Defense — 2.3%** | **Aerospace & Defense — 2.3%** | **Aerospace & Defense — 2.3%** |
| &nbsp;&nbsp;&nbsp; AAR Escrow Issuer LLC 6.75%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 326940 |
| &nbsp;&nbsp;&nbsp; ATI, Inc.  | &nbsp;&nbsp;&nbsp; ATI, Inc.  | &nbsp;&nbsp;&nbsp; ATI, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 197582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 384000 | &nbsp;&nbsp;&nbsp;&nbsp; 405423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 65124 |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.  | &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.  | &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 305108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 477587 |
| &nbsp;&nbsp;&nbsp; Bombardier, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Bombardier, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Bombardier, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 938000 | &nbsp;&nbsp;&nbsp;&nbsp; 940845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 406000 | &nbsp;&nbsp;&nbsp;&nbsp; 423708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 432000 | &nbsp;&nbsp;&nbsp;&nbsp; 460155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp;&nbsp; 272085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 5/1/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 187000 | &nbsp;&nbsp;&nbsp;&nbsp; 209251 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc.  | &nbsp;&nbsp;&nbsp; BWX Technologies, Inc.  | &nbsp;&nbsp;&nbsp; BWX Technologies, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 250172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98136 |
| &nbsp;&nbsp;&nbsp; Efesto Bidco SpA Efesto US LLC (Italy) Series XR, 7.50%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 538000 | &nbsp;&nbsp;&nbsp;&nbsp; 546465 |
| &nbsp;&nbsp;&nbsp; Goat Holdco LLC 6.75%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 338000 | &nbsp;&nbsp;&nbsp;&nbsp; 346653 |
| &nbsp;&nbsp;&nbsp; Moog, Inc. 4.25%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 221723 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.  | &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.  | &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 138000 | &nbsp;&nbsp;&nbsp;&nbsp; 138722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 11/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 353000 | &nbsp;&nbsp;&nbsp;&nbsp; 370710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 587000 | &nbsp;&nbsp;&nbsp;&nbsp; 643124 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc.  | &nbsp;&nbsp;&nbsp; TransDigm, Inc.  | &nbsp;&nbsp;&nbsp; TransDigm, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 744000 | &nbsp;&nbsp;&nbsp;&nbsp; 759211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 237049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 973000 | &nbsp;&nbsp;&nbsp;&nbsp; 966908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 12/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1342000 | &nbsp;&nbsp;&nbsp;&nbsp; 1399014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 12/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 737000 | &nbsp;&nbsp;&nbsp;&nbsp; 772666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 3/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1016000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 963000 | &nbsp;&nbsp;&nbsp;&nbsp; 984671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/31/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1738000 | &nbsp;&nbsp;&nbsp;&nbsp; 1781443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/31/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 60137 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14716615 |
| **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** |
| &nbsp;&nbsp;&nbsp; Rand Parent LLC 8.50%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 454034 |
| &nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC 7.25%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 267393 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 721427 |
| **Automobile Components — 2.4%** | **Automobile Components — 2.4%** | **Automobile Components — 2.4%** |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.  | &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.  | &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 608000 | &nbsp;&nbsp;&nbsp;&nbsp; 623834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 4/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 176573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 2/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 60046 |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc.  | &nbsp;&nbsp;&nbsp; Allison Transmission, Inc.  | &nbsp;&nbsp;&nbsp; Allison Transmission, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 172697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 623000 | &nbsp;&nbsp;&nbsp;&nbsp; 632245 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Automobile Components — continued** | **Automobile Components — continued** | **Automobile Components — continued** |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc.  | &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc.  | &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 324365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 715000 | &nbsp;&nbsp;&nbsp;&nbsp; 719386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 397000 | &nbsp;&nbsp;&nbsp;&nbsp; 400947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aptiv Swiss Holdings Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.39%), 6.88%, <br> 12/15/2054 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 244000 | &nbsp;&nbsp;&nbsp;&nbsp; 250538 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP  | &nbsp;&nbsp;&nbsp; Clarios Global LP  | &nbsp;&nbsp;&nbsp; Clarios Global LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 868000 | &nbsp;&nbsp;&nbsp;&nbsp; 890401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 578000 | &nbsp;&nbsp;&nbsp;&nbsp; 600819 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc.  | &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc.  | &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.50% (Cash), 3/31/2027 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 92249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63% (Cash), 5/15/2027 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 584019 |
| &nbsp;&nbsp;&nbsp; Dana, Inc.  | &nbsp;&nbsp;&nbsp; Dana, Inc.  | &nbsp;&nbsp;&nbsp; Dana, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 128254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 434000 | &nbsp;&nbsp;&nbsp;&nbsp; 434200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 71905 |
| &nbsp;&nbsp;&nbsp; Dornoch Debt Merger Sub, Inc. 6.63%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 383000 | &nbsp;&nbsp;&nbsp;&nbsp; 322436 |
| &nbsp;&nbsp;&nbsp; Forvia SE (France) 8.00%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 225851 |
| &nbsp;&nbsp;&nbsp; Garrett Motion Holdings, Inc. 7.75%, 5/31/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 362414 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The)  | &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The)  | &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 907000 | &nbsp;&nbsp;&nbsp;&nbsp; 904532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 729000 | &nbsp;&nbsp;&nbsp;&nbsp; 708249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 4/30/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 62000 | &nbsp;&nbsp;&nbsp;&nbsp; 58398 |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP  | &nbsp;&nbsp;&nbsp; Icahn Enterprises LP  | &nbsp;&nbsp;&nbsp; Icahn Enterprises LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp; 858820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 186000 | &nbsp;&nbsp;&nbsp;&nbsp; 187388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 177000 | &nbsp;&nbsp;&nbsp;&nbsp; 177995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 787000 | &nbsp;&nbsp;&nbsp;&nbsp; 760758 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH (Germany) 8.00% (Cash), 11/15/2032 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 684000 | &nbsp;&nbsp;&nbsp;&nbsp; 712569 |
| &nbsp;&nbsp;&nbsp; JB Poindexter & Co., Inc. 8.75%, 12/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 380595 |
| &nbsp;&nbsp;&nbsp; Patrick Industries, Inc.  | &nbsp;&nbsp;&nbsp; Patrick Industries, Inc.  | &nbsp;&nbsp;&nbsp; Patrick Industries, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 340036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40968 |
| &nbsp;&nbsp;&nbsp; Phinia, Inc.  | &nbsp;&nbsp;&nbsp; Phinia, Inc.  | &nbsp;&nbsp;&nbsp; Phinia, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 230135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 244000 | &nbsp;&nbsp;&nbsp;&nbsp; 252604 |
| &nbsp;&nbsp;&nbsp; Real Hero Merger Sub 2, Inc. 6.25%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 431000 | &nbsp;&nbsp;&nbsp;&nbsp; 191376 |
| &nbsp;&nbsp;&nbsp; Tenneco, Inc. 8.00%, 11/17/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 856000 | &nbsp;&nbsp;&nbsp;&nbsp; 855753 |
| &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc. (Germany) | &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc. (Germany) | &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc. (Germany) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/14/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 670000 | &nbsp;&nbsp;&nbsp;&nbsp; 683818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/23/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 147660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/23/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 947000 | &nbsp;&nbsp;&nbsp;&nbsp; 899706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15464539 |
| **Automobiles — 1.1%** | **Automobiles — 1.1%** | **Automobiles — 1.1%** |
| &nbsp;&nbsp;&nbsp; Aston Martin Capital Holdings Ltd. (Jersey) 10.00%, 3/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 491000 | &nbsp;&nbsp;&nbsp;&nbsp; 434246 |
| &nbsp;&nbsp;&nbsp; Jaguar Land Rover Automotive plc (United Kingdom) 5.88%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 676000 | &nbsp;&nbsp;&nbsp;&nbsp; 675939 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC  | &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC  | &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 9/16/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 574000 | &nbsp;&nbsp;&nbsp;&nbsp; 557785 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Automobiles — continued** | **Automobiles — continued** | **Automobiles — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 62000 | &nbsp;&nbsp;&nbsp;&nbsp; 56974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 938000 | &nbsp;&nbsp;&nbsp;&nbsp; 929607 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd. (Japan) | &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd. (Japan) | &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd. (Japan) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 9/17/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1698000 | &nbsp;&nbsp;&nbsp;&nbsp; 1663627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 9/17/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1224000 | &nbsp;&nbsp;&nbsp;&nbsp; 1148280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 7/17/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 891000 | &nbsp;&nbsp;&nbsp;&nbsp; 941782 |
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC 9.50%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 357000 | &nbsp;&nbsp;&nbsp;&nbsp; 299584 |
| &nbsp;&nbsp;&nbsp; Thor Industries, Inc. 4.00%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 207681 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6915505 |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| &nbsp;&nbsp;&nbsp; Armor Holdco, Inc. 8.50%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 151775 |
| &nbsp;&nbsp;&nbsp; Popular, Inc. (Puerto Rico) 7.25%, 3/13/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 169866 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc (United Kingdom) (3-MONTH SOFR + 1.46%), 7.01%, 7/30/2037 (a) (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 315017 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 636658 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 523049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp; 105709 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 628758 |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| &nbsp;&nbsp;&nbsp; Emergent BioSolutions, Inc. 3.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 192000 | &nbsp;&nbsp;&nbsp;&nbsp; 171350 |
| &nbsp;&nbsp;&nbsp; Grifols SA (Spain) 4.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 331426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 502776 |
| **Broadline Retail — 1.3%** | **Broadline Retail — 1.3%** | **Broadline Retail — 1.3%** |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC 3.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp; 264558 |
| &nbsp;&nbsp;&nbsp; Getty Images, Inc.  | &nbsp;&nbsp;&nbsp; Getty Images, Inc.  | &nbsp;&nbsp;&nbsp; Getty Images, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.00%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 229900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 2/21/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 489000 | &nbsp;&nbsp;&nbsp;&nbsp; 469461 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp.  | &nbsp;&nbsp;&nbsp; Kohl's Corp.  | &nbsp;&nbsp;&nbsp; Kohl's Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 152088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 7/17/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 509000 | &nbsp;&nbsp;&nbsp;&nbsp; 364450 |
| &nbsp;&nbsp;&nbsp; Liberty Interactive LLC  | &nbsp;&nbsp;&nbsp; Liberty Interactive LLC  | &nbsp;&nbsp;&nbsp; Liberty Interactive LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp; 7897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 5445 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC  | &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC  | &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 85206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 361713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 271573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 1/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 96356 |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC  | &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC  | &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 333501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 452520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 108000 | &nbsp;&nbsp;&nbsp;&nbsp; 108403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 416394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp;&nbsp; 22309 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Broadline Retail — continued** | **Broadline Retail — continued** | **Broadline Retail — continued** |
| &nbsp;&nbsp;&nbsp; Nordstrom, Inc.  | &nbsp;&nbsp;&nbsp; Nordstrom, Inc.  | &nbsp;&nbsp;&nbsp; Nordstrom, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 284000 | &nbsp;&nbsp;&nbsp;&nbsp; 266955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 374000 | &nbsp;&nbsp;&nbsp;&nbsp; 343148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp; 319024 |
| &nbsp;&nbsp;&nbsp; QVC, Inc.  | &nbsp;&nbsp;&nbsp; QVC, Inc.  | &nbsp;&nbsp;&nbsp; QVC, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 8/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 449000 | &nbsp;&nbsp;&nbsp;&nbsp; 179600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 3/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 49618 |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc. (Japan) | &nbsp;&nbsp;&nbsp; Rakuten Group, Inc. (Japan) | &nbsp;&nbsp;&nbsp; Rakuten Group, Inc. (Japan) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 826000 | &nbsp;&nbsp;&nbsp;&nbsp; 884843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 803000 | &nbsp;&nbsp;&nbsp;&nbsp; 892287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.25%), 8.13%, 12/15/2029 (a) (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 403000 | &nbsp;&nbsp;&nbsp;&nbsp; 414079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.96%), 6.25%, 4/22/2031 (a) (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 217258 |
| &nbsp;&nbsp;&nbsp; Shutterfly Finance LLC 8.50% (Cash), 10/1/2027 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 275273 |
| &nbsp;&nbsp;&nbsp; Shutterfly LLC 8.50%, 10/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 259000 | &nbsp;&nbsp;&nbsp;&nbsp; 103600 |
| &nbsp;&nbsp;&nbsp; Wayfair LLC 7.25%, 10/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 657000 | &nbsp;&nbsp;&nbsp;&nbsp; 683442 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8310290 |
| **Building Products — 2.1%** | **Building Products — 2.1%** | **Building Products — 2.1%** |
| &nbsp;&nbsp;&nbsp; ACProducts Holdings, Inc. 6.38%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 99185 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc.  | &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc.  | &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 329000 | &nbsp;&nbsp;&nbsp;&nbsp; 328574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 94815 |
| &nbsp;&nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC 7.63%, 8/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 366000 | &nbsp;&nbsp;&nbsp;&nbsp; 384517 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.  | &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.  | &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 438151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 498000 | &nbsp;&nbsp;&nbsp;&nbsp; 473327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 847000 | &nbsp;&nbsp;&nbsp;&nbsp; 882142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/1/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 124814 |
| &nbsp;&nbsp;&nbsp; Camelot Return Merger Sub, Inc. 8.75%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 172000 | &nbsp;&nbsp;&nbsp;&nbsp; 143835 |
| &nbsp;&nbsp;&nbsp; Cornerstone Building Brands, Inc.  | &nbsp;&nbsp;&nbsp; Cornerstone Building Brands, Inc.  | &nbsp;&nbsp;&nbsp; Cornerstone Building Brands, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 24015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 451000 | &nbsp;&nbsp;&nbsp;&nbsp; 362135 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc.  | &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc.  | &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 344000 | &nbsp;&nbsp;&nbsp;&nbsp; 348003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.75% (Blend (Cash 7.00% + PIK 5.75%)), 1/15/2031 (a) (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 331000 | &nbsp;&nbsp;&nbsp;&nbsp; 299928 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP  | &nbsp;&nbsp;&nbsp; EMRLD Borrower LP  | &nbsp;&nbsp;&nbsp; EMRLD Borrower LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 12/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1086000 | &nbsp;&nbsp;&nbsp;&nbsp; 1125479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp; 342269 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. 5.75%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 440537 |
| &nbsp;&nbsp;&nbsp; JELD-WEN, Inc.  | &nbsp;&nbsp;&nbsp; JELD-WEN, Inc.  | &nbsp;&nbsp;&nbsp; JELD-WEN, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 79869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 9/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 246157 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc. 7.00%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 312591 |
| &nbsp;&nbsp;&nbsp; Miter Brands Acquisition Holdco, Inc. 6.75%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp; 433138 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC 5.50%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 84045 |
| &nbsp;&nbsp;&nbsp; New Enterprise Stone & Lime Co., Inc. 5.25%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 251000 | &nbsp;&nbsp;&nbsp;&nbsp; 251210 |
| &nbsp;&nbsp;&nbsp; Oscar AcquisitionCo LLC 9.50%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 252000 | &nbsp;&nbsp;&nbsp;&nbsp; 126339 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Building Products — continued** | **Building Products — continued** | **Building Products — continued** |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2347000 | &nbsp;&nbsp;&nbsp;&nbsp; 2437113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 122000 | &nbsp;&nbsp;&nbsp;&nbsp; 127031 |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC  | &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC  | &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 889000 | &nbsp;&nbsp;&nbsp;&nbsp; 943544 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc.  | &nbsp;&nbsp;&nbsp; Standard Industries, Inc.  | &nbsp;&nbsp;&nbsp; Standard Industries, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 713000 | &nbsp;&nbsp;&nbsp;&nbsp; 711035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1057000 | &nbsp;&nbsp;&nbsp;&nbsp; 1024902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 881000 | &nbsp;&nbsp;&nbsp;&nbsp; 808294 |
| &nbsp;&nbsp;&nbsp; Wilsonart LLC 11.00%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 236000 | &nbsp;&nbsp;&nbsp;&nbsp; 218932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13735971 |
| **Capital Markets — 1.2%** | **Capital Markets — 1.2%** | **Capital Markets — 1.2%** |
| &nbsp;&nbsp;&nbsp; AG Issuer LLC 6.25%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 139391 |
| &nbsp;&nbsp;&nbsp; Aretec Group, Inc.  | &nbsp;&nbsp;&nbsp; Aretec Group, Inc.  | &nbsp;&nbsp;&nbsp; Aretec Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 418201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 147567 |
| &nbsp;&nbsp;&nbsp; BlackRock TCP Capital Corp. 6.95%, 5/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 146000 | &nbsp;&nbsp;&nbsp;&nbsp; 148404 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc.  | &nbsp;&nbsp;&nbsp; Coinbase Global, Inc.  | &nbsp;&nbsp;&nbsp; Coinbase Global, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp; 202374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 647000 | &nbsp;&nbsp;&nbsp;&nbsp; 575186 |
| &nbsp;&nbsp;&nbsp; Compass Group Diversified Holdings LLC 5.25%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 526007 | &nbsp;&nbsp;&nbsp;&nbsp; 491495 |
| &nbsp;&nbsp;&nbsp; Dresdner Funding Trust I 8.15%, 6/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 510969 |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC 6.75%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 478000 | &nbsp;&nbsp;&nbsp;&nbsp; 493852 |
| &nbsp;&nbsp;&nbsp; Hightower Holding LLC  | &nbsp;&nbsp;&nbsp; Hightower Holding LLC  | &nbsp;&nbsp;&nbsp; Hightower Holding LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 141144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 163000 | &nbsp;&nbsp;&nbsp;&nbsp; 173249 |
| &nbsp;&nbsp;&nbsp; Jane Street Group  | &nbsp;&nbsp;&nbsp; Jane Street Group  | &nbsp;&nbsp;&nbsp; Jane Street Group  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 213000 | &nbsp;&nbsp;&nbsp;&nbsp; 209615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 4/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1146000 | &nbsp;&nbsp;&nbsp;&nbsp; 1207228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 733000 | &nbsp;&nbsp;&nbsp;&nbsp; 745671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 391000 | &nbsp;&nbsp;&nbsp;&nbsp; 408939 |
| &nbsp;&nbsp;&nbsp; Osaic Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Osaic Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Osaic Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 74000 | &nbsp;&nbsp;&nbsp;&nbsp; 76642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 479000 | &nbsp;&nbsp;&nbsp;&nbsp; 493289 |
| &nbsp;&nbsp;&nbsp; Prospect Capital Corp.  | &nbsp;&nbsp;&nbsp; Prospect Capital Corp.  | &nbsp;&nbsp;&nbsp; Prospect Capital Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.36%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 216622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 84898 |
| &nbsp;&nbsp;&nbsp; StoneX Group, Inc. 7.88%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 502000 | &nbsp;&nbsp;&nbsp;&nbsp; 531702 |
| &nbsp;&nbsp;&nbsp; VFH Parent LLC 7.50%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 227745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7644183 |
| **Chemicals — 3.2%** | **Chemicals — 3.2%** | **Chemicals — 3.2%** |
| &nbsp;&nbsp;&nbsp; Ashland, Inc.  | &nbsp;&nbsp;&nbsp; Ashland, Inc.  | &nbsp;&nbsp;&nbsp; Ashland, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp; 208830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 94424 |
| &nbsp;&nbsp;&nbsp; ASP Unifrax Holdings, Inc.  | &nbsp;&nbsp;&nbsp; ASP Unifrax Holdings, Inc.  | &nbsp;&nbsp;&nbsp; ASP Unifrax Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.10% (Blend (Cash 5.85% + PIK 1.25%)), 9/30/2029 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 400732 | &nbsp;&nbsp;&nbsp;&nbsp; 59247 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Chemicals — continued** | **Chemicals — continued** | **Chemicals — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.18% (Blend (Cash 6.43% + PIK 4.75%)), 9/30/2029 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 53002 | &nbsp;&nbsp;&nbsp;&nbsp; 41040 |
| &nbsp;&nbsp;&nbsp; Avient Corp.  | &nbsp;&nbsp;&nbsp; Avient Corp.  | &nbsp;&nbsp;&nbsp; Avient Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 423311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 184596 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B BV 7.25%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 158540 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp; 535973 |
| &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC  | &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC  | &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.67%, 7/15/2027 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 567000 | &nbsp;&nbsp;&nbsp;&nbsp; 583523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.83%, 7/15/2029 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 434000 | &nbsp;&nbsp;&nbsp;&nbsp; 448686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 11/15/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 1042000 | &nbsp;&nbsp;&nbsp;&nbsp; 1080126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/15/2032 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 1180000 | &nbsp;&nbsp;&nbsp;&nbsp; 1203851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 11/15/2033 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 348000 | &nbsp;&nbsp;&nbsp;&nbsp; 363434 |
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH (Germany) 9.38%, 10/3/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp; 382957 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The)  | &nbsp;&nbsp;&nbsp; Chemours Co. (The)  | &nbsp;&nbsp;&nbsp; Chemours Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 163000 | &nbsp;&nbsp;&nbsp;&nbsp; 162983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 667000 | &nbsp;&nbsp;&nbsp;&nbsp; 647356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 1/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 329810 |
| &nbsp;&nbsp;&nbsp; Consolidated Energy Finance SA (Switzerland) 12.00%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 387600 |
| &nbsp;&nbsp;&nbsp; CVR Partners LP 6.13%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 232372 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 338326 |
| &nbsp;&nbsp;&nbsp; FMC Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.37%), 8.45%, 11/1/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 556000 | &nbsp;&nbsp;&nbsp;&nbsp; 432709 |
| &nbsp;&nbsp;&nbsp; HB Fuller Co.  | &nbsp;&nbsp;&nbsp; HB Fuller Co.  | &nbsp;&nbsp;&nbsp; HB Fuller Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 101244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 178000 | &nbsp;&nbsp;&nbsp;&nbsp; 173069 |
| &nbsp;&nbsp;&nbsp; Herens Holdco SARL (Luxembourg) 4.75%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 273000 | &nbsp;&nbsp;&nbsp;&nbsp; 237505 |
| &nbsp;&nbsp;&nbsp; Huntsman International LLC  | &nbsp;&nbsp;&nbsp; Huntsman International LLC  | &nbsp;&nbsp;&nbsp; Huntsman International LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 468000 | &nbsp;&nbsp;&nbsp;&nbsp; 389937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 278342 |
| &nbsp;&nbsp;&nbsp; Illuminate Buyer LLC 9.00%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 42000 | &nbsp;&nbsp;&nbsp;&nbsp; 41990 |
| &nbsp;&nbsp;&nbsp; INEOS Finance plc (Luxembourg) 7.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 579000 | &nbsp;&nbsp;&nbsp;&nbsp; 519660 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc (United Kingdom) 9.63%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170100 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp. 3.88%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 292721 |
| &nbsp;&nbsp;&nbsp; Innophos Holdings, Inc. 11.50%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179769 |
| &nbsp;&nbsp;&nbsp; Inversion Escrow Issuer LLC 6.75%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 859000 | &nbsp;&nbsp;&nbsp;&nbsp; 839086 |
| &nbsp;&nbsp;&nbsp; LSB Industries, Inc. 6.25%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 228848 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. 8.00%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200357 |
| &nbsp;&nbsp;&nbsp; Maxam Prill SARL (Luxembourg) 7.75%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 234255 |
| &nbsp;&nbsp;&nbsp; Methanex Corp. (Canada) | &nbsp;&nbsp;&nbsp; Methanex Corp. (Canada) | &nbsp;&nbsp;&nbsp; Methanex Corp. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 754000 | &nbsp;&nbsp;&nbsp;&nbsp; 756122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 23023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 12/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 114000 | &nbsp;&nbsp;&nbsp;&nbsp; 99992 |
| &nbsp;&nbsp;&nbsp; Methanex US Operations, Inc. 6.25%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 103703 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. 5.00%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 146000 | &nbsp;&nbsp;&nbsp;&nbsp; 144905 |
| &nbsp;&nbsp;&nbsp; NOVA Chemicals Corp. (Canada) | &nbsp;&nbsp;&nbsp; NOVA Chemicals Corp. (Canada) | &nbsp;&nbsp;&nbsp; NOVA Chemicals Corp. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 291000 | &nbsp;&nbsp;&nbsp;&nbsp; 292067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 433000 | &nbsp;&nbsp;&nbsp;&nbsp; 453565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 53000 | &nbsp;&nbsp;&nbsp;&nbsp; 51335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 12/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 487000 | &nbsp;&nbsp;&nbsp;&nbsp; 517248 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Chemicals — continued** | **Chemicals — continued** | **Chemicals — continued** |
| &nbsp;&nbsp;&nbsp; Nufarm Australia Ltd. (Australia) 5.00%, 1/27/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 178000 | &nbsp;&nbsp;&nbsp;&nbsp; 160607 |
| &nbsp;&nbsp;&nbsp; Olin Corp.  | &nbsp;&nbsp;&nbsp; Olin Corp.  | &nbsp;&nbsp;&nbsp; Olin Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 273000 | &nbsp;&nbsp;&nbsp;&nbsp; 273794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 100244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 4/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 419000 | &nbsp;&nbsp;&nbsp;&nbsp; 416202 |
| &nbsp;&nbsp;&nbsp; Olympus Water US Holding Corp.  | &nbsp;&nbsp;&nbsp; Olympus Water US Holding Corp.  | &nbsp;&nbsp;&nbsp; Olympus Water US Holding Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp; 394089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 512092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 291000 | &nbsp;&nbsp;&nbsp;&nbsp; 291287 |
| &nbsp;&nbsp;&nbsp; Rain Carbon, Inc. 12.25%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp; 238366 |
| &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc.  | &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc.  | &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 499000 | &nbsp;&nbsp;&nbsp;&nbsp; 496750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 281204 |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The)  | &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The)  | &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 158919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 511000 | &nbsp;&nbsp;&nbsp;&nbsp; 477782 |
| &nbsp;&nbsp;&nbsp; SK Invictus Intermediate II SARL 5.00%, 10/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 292000 | &nbsp;&nbsp;&nbsp;&nbsp; 287386 |
| &nbsp;&nbsp;&nbsp; SNF Group SACA (France) 3.38%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp; 298970 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc. 5.63%, 9/30/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 152832 |
| &nbsp;&nbsp;&nbsp; Trinseo Luxco Finance SPV SARL 7.63% (Blend (Cash 5.13% + PIK 2.50%)), 5/3/2029 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 185206 | &nbsp;&nbsp;&nbsp;&nbsp; 30096 |
| &nbsp;&nbsp;&nbsp; Tronox, Inc.  | &nbsp;&nbsp;&nbsp; Tronox, Inc.  | &nbsp;&nbsp;&nbsp; Tronox, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 493000 | &nbsp;&nbsp;&nbsp;&nbsp; 318453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 9/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 141427 |
| &nbsp;&nbsp;&nbsp; Vibrantz Technologies, Inc. 9.00%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 328000 | &nbsp;&nbsp;&nbsp;&nbsp; 91840 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC  | &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC  | &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 312000 | &nbsp;&nbsp;&nbsp;&nbsp; 309144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 110143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 759000 | &nbsp;&nbsp;&nbsp;&nbsp; 771288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20941452 |
| **Commercial Services & Supplies — 2.7%** | **Commercial Services & Supplies — 2.7%** | **Commercial Services & Supplies — 2.7%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. 4.25%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 242048 |
| &nbsp;&nbsp;&nbsp; ADT Security Corp. (The)  | &nbsp;&nbsp;&nbsp; ADT Security Corp. (The)  | &nbsp;&nbsp;&nbsp; ADT Security Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 235455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 716000 | &nbsp;&nbsp;&nbsp;&nbsp; 694039 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC  | &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC  | &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 824000 | &nbsp;&nbsp;&nbsp;&nbsp; 809257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 372596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 148838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1523000 | &nbsp;&nbsp;&nbsp;&nbsp; 1603501 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc.  | &nbsp;&nbsp;&nbsp; APi Group DE, Inc.  | &nbsp;&nbsp;&nbsp; APi Group DE, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 83000 | &nbsp;&nbsp;&nbsp;&nbsp; 80648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 183000 | &nbsp;&nbsp;&nbsp;&nbsp; 179822 |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc. 5.00%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 497000 | &nbsp;&nbsp;&nbsp;&nbsp; 497297 |
| &nbsp;&nbsp;&nbsp; Brink's Co. (The)  | &nbsp;&nbsp;&nbsp; Brink's Co. (The)  | &nbsp;&nbsp;&nbsp; Brink's Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 222319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 314932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 154000 | &nbsp;&nbsp;&nbsp;&nbsp; 160603 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Commercial Services & Supplies — continued** | **Commercial Services & Supplies — continued** | **Commercial Services & Supplies — continued** |
| &nbsp;&nbsp;&nbsp; Cimpress plc (Ireland) 7.38%, 9/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 258081 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp.  | &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp.  | &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 728000 | &nbsp;&nbsp;&nbsp;&nbsp; 704990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 118139 |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. 6.38%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 381000 | &nbsp;&nbsp;&nbsp;&nbsp; 391595 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. 8.25%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 226507 |
| &nbsp;&nbsp;&nbsp; Deluxe Corp.  | &nbsp;&nbsp;&nbsp; Deluxe Corp.  | &nbsp;&nbsp;&nbsp; Deluxe Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 432000 | &nbsp;&nbsp;&nbsp;&nbsp; 436905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 86375 |
| &nbsp;&nbsp;&nbsp; Enviri Corp. 5.75%, 7/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 204249 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp. (Canada) | &nbsp;&nbsp;&nbsp; Garda World Security Corp. (Canada) | &nbsp;&nbsp;&nbsp; Garda World Security Corp. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 45109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 311000 | &nbsp;&nbsp;&nbsp;&nbsp; 305349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 866000 | &nbsp;&nbsp;&nbsp;&nbsp; 885241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 11/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 103548 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 63225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.25%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 584000 | &nbsp;&nbsp;&nbsp;&nbsp; 640822 |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc.  | &nbsp;&nbsp;&nbsp; GFL Environmental, Inc.  | &nbsp;&nbsp;&nbsp; GFL Environmental, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 629000 | &nbsp;&nbsp;&nbsp;&nbsp; 616686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 376000 | &nbsp;&nbsp;&nbsp;&nbsp; 375574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 189000 | &nbsp;&nbsp;&nbsp;&nbsp; 186282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 383000 | &nbsp;&nbsp;&nbsp;&nbsp; 402082 |
| &nbsp;&nbsp;&nbsp; Interface, Inc. 5.50%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 129838 |
| &nbsp;&nbsp;&nbsp; Luna 1.5 SARL (Luxembourg) 12.00% (Cash), 7/1/2032 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 220953 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC  | &nbsp;&nbsp;&nbsp; Madison IAQ LLC  | &nbsp;&nbsp;&nbsp; Madison IAQ LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 177563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 624000 | &nbsp;&nbsp;&nbsp;&nbsp; 617113 |
| &nbsp;&nbsp;&nbsp; OT Midco, Inc. 10.00%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 158521 |
| &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc.  | &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc.  | &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 265662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 129539 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC 3.38%, 8/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 408000 | &nbsp;&nbsp;&nbsp;&nbsp; 398299 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC 6.88%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 562000 | &nbsp;&nbsp;&nbsp;&nbsp; 577732 |
| &nbsp;&nbsp;&nbsp; Reworld Holding Corp. 4.88%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 43590 |
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co.  | &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co.  | &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 433000 | &nbsp;&nbsp;&nbsp;&nbsp; 445133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 284518 |
| &nbsp;&nbsp;&nbsp; Steelcase, Inc. 5.13%, 1/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 213577 |
| &nbsp;&nbsp;&nbsp; Veritiv Operating Co. 10.50%, 11/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 428000 | &nbsp;&nbsp;&nbsp;&nbsp; 459986 |
| &nbsp;&nbsp;&nbsp; VM Consolidated, Inc. 5.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 176000 | &nbsp;&nbsp;&nbsp;&nbsp; 175874 |
| &nbsp;&nbsp;&nbsp; Waste Pro USA, Inc. 7.00%, 2/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 368000 | &nbsp;&nbsp;&nbsp;&nbsp; 382759 |
| &nbsp;&nbsp;&nbsp; West Technology Group LLC 8.50%, 4/10/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp; 32361 |
| &nbsp;&nbsp;&nbsp; Williams Scotsman, Inc.  | &nbsp;&nbsp;&nbsp; Williams Scotsman, Inc.  | &nbsp;&nbsp;&nbsp; Williams Scotsman, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 97795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 42000 | &nbsp;&nbsp;&nbsp;&nbsp; 43334 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Commercial Services & Supplies — continued** | **Commercial Services & Supplies — continued** | **Commercial Services & Supplies — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp; 770902 |
| &nbsp;&nbsp;&nbsp; Wrangler Holdco Corp. (Canada) 6.63%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 86062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17323225 |
| **Communications Equipment — 0.5%** | **Communications Equipment — 0.5%** | **Communications Equipment — 0.5%** |
| &nbsp;&nbsp;&nbsp; Ciena Corp. 4.00%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 163919 |
| &nbsp;&nbsp;&nbsp; CommScope LLC  | &nbsp;&nbsp;&nbsp; CommScope LLC  | &nbsp;&nbsp;&nbsp; CommScope LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 622000 | &nbsp;&nbsp;&nbsp;&nbsp; 623362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 274000 | &nbsp;&nbsp;&nbsp;&nbsp; 273526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 12/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 293179 |
| &nbsp;&nbsp;&nbsp; CommScope Technologies LLC 5.00%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 491000 | &nbsp;&nbsp;&nbsp;&nbsp; 490370 |
| &nbsp;&nbsp;&nbsp; CommScope, Inc. 7.13%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 149175 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc.  | &nbsp;&nbsp;&nbsp; Viasat, Inc.  | &nbsp;&nbsp;&nbsp; Viasat, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 558000 | &nbsp;&nbsp;&nbsp;&nbsp; 558567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 4882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 5/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 299000 | &nbsp;&nbsp;&nbsp;&nbsp; 283471 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc. 3.75%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 174000 | &nbsp;&nbsp;&nbsp;&nbsp; 165629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3006080 |
| **Construction & Engineering — 0.8%** | **Construction & Engineering — 0.8%** | **Construction & Engineering — 0.8%** |
| &nbsp;&nbsp;&nbsp; AECOM 6.00%, 8/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 537000 | &nbsp;&nbsp;&nbsp;&nbsp; 552004 |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc.  | &nbsp;&nbsp;&nbsp; Arcosa, Inc.  | &nbsp;&nbsp;&nbsp; Arcosa, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 177387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 277403 |
| &nbsp;&nbsp;&nbsp; Artera Services LLC 8.50%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 224756 |
| &nbsp;&nbsp;&nbsp; ATP Tower Holdings LLC (Chile) 4.05%, 4/27/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 277000 | &nbsp;&nbsp;&nbsp;&nbsp; 271828 |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc. 10.38%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp;&nbsp; 627620 |
| &nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings, Inc. 7.50%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 277000 | &nbsp;&nbsp;&nbsp;&nbsp; 280643 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. 4.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 208181 |
| &nbsp;&nbsp;&nbsp; Fluor Corp. 4.25%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp;&nbsp; 257316 |
| &nbsp;&nbsp;&nbsp; Global Infrastructure Solutions, Inc.  | &nbsp;&nbsp;&nbsp; Global Infrastructure Solutions, Inc.  | &nbsp;&nbsp;&nbsp; Global Infrastructure Solutions, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 239803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 66000 | &nbsp;&nbsp;&nbsp;&nbsp; 69377 |
| &nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp. 5.25%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 137318 |
| &nbsp;&nbsp;&nbsp; HTA Group Ltd. (Tanzania, United Republic of) 7.50%, 6/4/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 413000 | &nbsp;&nbsp;&nbsp;&nbsp; 428231 |
| &nbsp;&nbsp;&nbsp; Pike Corp.  | &nbsp;&nbsp;&nbsp; Pike Corp.  | &nbsp;&nbsp;&nbsp; Pike Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 412000 | &nbsp;&nbsp;&nbsp;&nbsp; 410970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 1/31/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 132000 | &nbsp;&nbsp;&nbsp;&nbsp; 139551 |
| &nbsp;&nbsp;&nbsp; Railworks Holdings LP 8.25%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 208000 | &nbsp;&nbsp;&nbsp;&nbsp; 208632 |
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp. 11.88%, 4/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 222380 |
| &nbsp;&nbsp;&nbsp; Weekley Homes LLC 4.88%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 206000 | &nbsp;&nbsp;&nbsp;&nbsp; 202703 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4936103 |
| **Construction Materials — 0.0% ^** | **Construction Materials — 0.0% ^** | **Construction Materials — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Knife River Corp. 7.75%, 5/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 207000 | &nbsp;&nbsp;&nbsp;&nbsp; 217709 |
| **Consumer Finance — 2.4%** | **Consumer Finance — 2.4%** | **Consumer Finance — 2.4%** |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc.  | &nbsp;&nbsp;&nbsp; Ally Financial, Inc.  | &nbsp;&nbsp;&nbsp; Ally Financial, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 2/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 98000 | &nbsp;&nbsp;&nbsp;&nbsp; 102597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.45%), 6.65%, 1/17/2040 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 542548 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Consumer Finance — continued** | **Consumer Finance — continued** | **Consumer Finance — continued** |
| &nbsp;&nbsp;&nbsp; Atlanticus Holdings Corp. 9.75%, 9/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 173904 |
| &nbsp;&nbsp;&nbsp; Azorra Finance Ltd.  | &nbsp;&nbsp;&nbsp; Azorra Finance Ltd.  | &nbsp;&nbsp;&nbsp; Azorra Finance Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 271000 | &nbsp;&nbsp;&nbsp;&nbsp; 285432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 91856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.30%), 8.38%, <br> 6/15/2035 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 77000 | &nbsp;&nbsp;&nbsp;&nbsp; 78926 |
| &nbsp;&nbsp;&nbsp; Cobra AcquisitionCo LLC  | &nbsp;&nbsp;&nbsp; Cobra AcquisitionCo LLC  | &nbsp;&nbsp;&nbsp; Cobra AcquisitionCo LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 140758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.25%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 116290 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp. 9.25%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 524693 |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.  | &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.  | &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 272000 | &nbsp;&nbsp;&nbsp;&nbsp; 286287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 223497 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc.  | &nbsp;&nbsp;&nbsp; Enova International, Inc.  | &nbsp;&nbsp;&nbsp; Enova International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 428000 | &nbsp;&nbsp;&nbsp;&nbsp; 455816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 61271 |
| &nbsp;&nbsp;&nbsp; EZCORP, Inc. 7.38%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 136286 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc.  | &nbsp;&nbsp;&nbsp; FirstCash, Inc.  | &nbsp;&nbsp;&nbsp; FirstCash, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 468341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 110689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 97000 | &nbsp;&nbsp;&nbsp;&nbsp; 100860 |
| &nbsp;&nbsp;&nbsp; GGAM Finance Ltd. (Ireland) | &nbsp;&nbsp;&nbsp; GGAM Finance Ltd. (Ireland) | &nbsp;&nbsp;&nbsp; GGAM Finance Ltd. (Ireland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 753000 | &nbsp;&nbsp;&nbsp;&nbsp; 770236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 164983 |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd. (Cayman Islands) 8.75%, 9/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 591439 |
| &nbsp;&nbsp;&nbsp; goeasy Ltd. (Canada) | &nbsp;&nbsp;&nbsp; goeasy Ltd. (Canada) | &nbsp;&nbsp;&nbsp; goeasy Ltd. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 180217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 45611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 220170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 693000 | &nbsp;&nbsp;&nbsp;&nbsp; 670712 |
| &nbsp;&nbsp;&nbsp; LFS Topco LLC 8.75%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 169148 |
| &nbsp;&nbsp;&nbsp; Navient Corp.  | &nbsp;&nbsp;&nbsp; Navient Corp.  | &nbsp;&nbsp;&nbsp; Navient Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 504000 | &nbsp;&nbsp;&nbsp;&nbsp; 503554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 474000 | &nbsp;&nbsp;&nbsp;&nbsp; 468007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 929000 | &nbsp;&nbsp;&nbsp;&nbsp; 837217 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp.  | &nbsp;&nbsp;&nbsp; OneMain Finance Corp.  | &nbsp;&nbsp;&nbsp; OneMain Finance Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 857000 | &nbsp;&nbsp;&nbsp;&nbsp; 845823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 324138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 194000 | &nbsp;&nbsp;&nbsp;&nbsp; 200745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 864000 | &nbsp;&nbsp;&nbsp;&nbsp; 861175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 487000 | &nbsp;&nbsp;&nbsp;&nbsp; 515446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 542000 | &nbsp;&nbsp;&nbsp;&nbsp; 508690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 297000 | &nbsp;&nbsp;&nbsp;&nbsp; 309442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 33727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 647000 | &nbsp;&nbsp;&nbsp;&nbsp; 670076 |
| &nbsp;&nbsp;&nbsp; Phoenix Aviation Capital Ltd. (Ireland) 9.25%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 276590 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.  | &nbsp;&nbsp;&nbsp; PRA Group, Inc.  | &nbsp;&nbsp;&nbsp; PRA Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 140551 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Consumer Finance — continued** | **Consumer Finance — continued** | **Consumer Finance — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 502800 |
| &nbsp;&nbsp;&nbsp; PROG Holdings, Inc. 6.00%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp; 289320 |
| &nbsp;&nbsp;&nbsp; Rfna LP 7.88%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 253456 |
| &nbsp;&nbsp;&nbsp; SLM Corp.  | &nbsp;&nbsp;&nbsp; SLM Corp.  | &nbsp;&nbsp;&nbsp; SLM Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 369000 | &nbsp;&nbsp;&nbsp;&nbsp; 362077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 1/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 88599 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial 7.25%, 2/2/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 354000 | &nbsp;&nbsp;&nbsp;&nbsp; 379253 |
| &nbsp;&nbsp;&nbsp; TrueNoord Capital DAC (Ireland) 8.75%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp; 321152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15404405 |
| **Consumer Staples Distribution & Retail — 1.1%** | **Consumer Staples Distribution & Retail — 1.1%** | **Consumer Staples Distribution & Retail — 1.1%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc.  | &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc.  | &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 48964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 694000 | &nbsp;&nbsp;&nbsp;&nbsp; 695079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 167957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 609000 | &nbsp;&nbsp;&nbsp;&nbsp; 583862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 877000 | &nbsp;&nbsp;&nbsp;&nbsp; 870394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 154000 | &nbsp;&nbsp;&nbsp;&nbsp; 159469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/31/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 781000 | &nbsp;&nbsp;&nbsp;&nbsp; 787298 |
| &nbsp;&nbsp;&nbsp; C&S Group Enterprises LLC 5.00%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 191000 | &nbsp;&nbsp;&nbsp;&nbsp; 177406 |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc. 4.00%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 147077 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC 9.00%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 429000 | &nbsp;&nbsp;&nbsp;&nbsp; 448188 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc.  | &nbsp;&nbsp;&nbsp; Performance Food Group, Inc.  | &nbsp;&nbsp;&nbsp; Performance Food Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1076000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 306580 |
| &nbsp;&nbsp;&nbsp; Rite Aid Corp.  | &nbsp;&nbsp;&nbsp; Rite Aid Corp.  | &nbsp;&nbsp;&nbsp; Rite Aid Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/15/2026 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp; 279000 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 7.00%), 11.32%, 8/30/2031 ‡ (a) (b) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 29119 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, 15.00%, 8/30/2031 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp; 39743 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 15.00%, 8/30/2031 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp; 84019 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Rite Aid Corp., Escrow 8.00%, 10/18/2025 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp; 78094 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Safeway, Inc. 7.25%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 106000 | &nbsp;&nbsp;&nbsp;&nbsp; 115510 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc. 6.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 247155 |
| &nbsp;&nbsp;&nbsp; US Foods, Inc.  | &nbsp;&nbsp;&nbsp; US Foods, Inc.  | &nbsp;&nbsp;&nbsp; US Foods, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 98258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 667000 | &nbsp;&nbsp;&nbsp;&nbsp; 663893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 389808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 182273 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7145626 |
| **Containers & Packaging — 2.1%** | **Containers & Packaging — 2.1%** | **Containers & Packaging — 2.1%** |
| &nbsp;&nbsp;&nbsp; ARD Finance SA (Luxembourg) 7.25% (PIK), 6/30/2027 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 304297 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC  | &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC  | &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 812000 | &nbsp;&nbsp;&nbsp;&nbsp; 755761 |
| &nbsp;&nbsp;&nbsp; Ball Corp.  | &nbsp;&nbsp;&nbsp; Ball Corp.  | &nbsp;&nbsp;&nbsp; Ball Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp; 381835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 516000 | &nbsp;&nbsp;&nbsp;&nbsp; 475785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 169829 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Containers & Packaging — continued** | **Containers & Packaging — continued** | **Containers & Packaging — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 639000 | &nbsp;&nbsp;&nbsp;&nbsp; 651032 |
| &nbsp;&nbsp;&nbsp; Cascades, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Cascades, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Cascades, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 392000 | &nbsp;&nbsp;&nbsp;&nbsp; 392261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 61000 | &nbsp;&nbsp;&nbsp;&nbsp; 63516 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 796000 | &nbsp;&nbsp;&nbsp;&nbsp; 805445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp; 411645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 459101 |
| &nbsp;&nbsp;&nbsp; Crown Americas LLC  | &nbsp;&nbsp;&nbsp; Crown Americas LLC  | &nbsp;&nbsp;&nbsp; Crown Americas LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 612591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 174036 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc. 7.13%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 246438 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC  | &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC  | &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 134273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 103000 | &nbsp;&nbsp;&nbsp;&nbsp; 98225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 699000 | &nbsp;&nbsp;&nbsp;&nbsp; 710816 |
| &nbsp;&nbsp;&nbsp; Iris Holding, Inc. 10.00%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 135574 |
| &nbsp;&nbsp;&nbsp; LABL, Inc.  | &nbsp;&nbsp;&nbsp; LABL, Inc.  | &nbsp;&nbsp;&nbsp; LABL, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 63000 | &nbsp;&nbsp;&nbsp;&nbsp; 42874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 313865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp; 61180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 631000 | &nbsp;&nbsp;&nbsp;&nbsp; 385362 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co.  | &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co.  | &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1320921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 368000 | &nbsp;&nbsp;&nbsp;&nbsp; 345920 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.  | &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.  | &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/13/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 677000 | &nbsp;&nbsp;&nbsp;&nbsp; 678295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 5/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 91125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 6/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 176000 | &nbsp;&nbsp;&nbsp;&nbsp; 177065 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp.  | &nbsp;&nbsp;&nbsp; Sealed Air Corp.  | &nbsp;&nbsp;&nbsp; Sealed Air Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 498000 | &nbsp;&nbsp;&nbsp;&nbsp; 506408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 132491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 597000 | &nbsp;&nbsp;&nbsp;&nbsp; 628522 |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. 4.13%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 274000 | &nbsp;&nbsp;&nbsp;&nbsp; 271111 |
| &nbsp;&nbsp;&nbsp; Toucan FinCo. Ltd. (Canada) 9.50%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 687000 | &nbsp;&nbsp;&nbsp;&nbsp; 648892 |
| &nbsp;&nbsp;&nbsp; Trident TPI Holdings, Inc. 12.75%, 12/31/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 282813 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. 4.13%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 174000 | &nbsp;&nbsp;&nbsp;&nbsp; 170737 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV (Netherlands) 8.25%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 628000 | &nbsp;&nbsp;&nbsp;&nbsp; 661153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13589446 |
| **Distributors — 0.4%** | **Distributors — 0.4%** | **Distributors — 0.4%** |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co., Inc. 4.00%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 489663 |
| &nbsp;&nbsp;&nbsp; Dealer Tire LLC 8.00%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 216000 | &nbsp;&nbsp;&nbsp;&nbsp; 213952 |
| &nbsp;&nbsp;&nbsp; Gates Corp. 6.88%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 232392 |
| &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc. (Canada) | &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc. (Canada) | &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 414645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 207000 | &nbsp;&nbsp;&nbsp;&nbsp; 216955 |
| &nbsp;&nbsp;&nbsp; Resideo Funding, Inc. 6.50%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp; 405408 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Distributors — continued** | **Distributors — continued** | **Distributors — continued** |
| &nbsp;&nbsp;&nbsp; Velocity Vehicle Group LLC 8.00%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 236707 |
| &nbsp;&nbsp;&nbsp; Windsor Holdings III LLC 8.50%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 360929 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2570651 |
| **Diversified Consumer Services — 0.7%** | **Diversified Consumer Services — 0.7%** | **Diversified Consumer Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc. 5.50%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 198551 |
| &nbsp;&nbsp;&nbsp; Belron UK Finance plc (United Kingdom) 5.75%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 514000 | &nbsp;&nbsp;&nbsp;&nbsp; 522702 |
| &nbsp;&nbsp;&nbsp; Carriage Services, Inc. 4.25%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 203071 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc. 8.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp; 292066 |
| &nbsp;&nbsp;&nbsp; Matthews International Corp. 8.63%, 10/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp; 137416 |
| &nbsp;&nbsp;&nbsp; Mavis Tire Express Services Topco Corp. 6.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 309000 | &nbsp;&nbsp;&nbsp;&nbsp; 306354 |
| &nbsp;&nbsp;&nbsp; Service Corp. International  | &nbsp;&nbsp;&nbsp; Service Corp. International  | &nbsp;&nbsp;&nbsp; Service Corp. International  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1004000 | &nbsp;&nbsp;&nbsp;&nbsp; 940840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 208000 | &nbsp;&nbsp;&nbsp;&nbsp; 198574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 453000 | &nbsp;&nbsp;&nbsp;&nbsp; 462248 |
| &nbsp;&nbsp;&nbsp; Signal Parent, Inc. 6.13%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 107000 | &nbsp;&nbsp;&nbsp;&nbsp; 36380 |
| &nbsp;&nbsp;&nbsp; Sotheby's  | &nbsp;&nbsp;&nbsp; Sotheby's  | &nbsp;&nbsp;&nbsp; Sotheby's  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 280756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 190931 |
| &nbsp;&nbsp;&nbsp; StoneMor, Inc. 8.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 175767 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc. 7.63%, 1/30/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp;&nbsp; 621699 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4567355 |
| **Diversified REITs — 0.3%** | **Diversified REITs — 0.3%** | **Diversified REITs — 0.3%** |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management Services, Inc. 5.00%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 326000 | &nbsp;&nbsp;&nbsp;&nbsp; 313800 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP  | &nbsp;&nbsp;&nbsp; Uniti Group LP  | &nbsp;&nbsp;&nbsp; Uniti Group LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 402000 | &nbsp;&nbsp;&nbsp;&nbsp; 396268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 348000 | &nbsp;&nbsp;&nbsp;&nbsp; 330309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 378000 | &nbsp;&nbsp;&nbsp;&nbsp; 348612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 155338 |
| &nbsp;&nbsp;&nbsp; Vornado Realty LP 3.40%, 6/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 141112 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1685439 |
| **Diversified Telecommunication Services — 5.4%** | **Diversified Telecommunication Services — 5.4%** | **Diversified Telecommunication Services — 5.4%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA (Luxembourg) | &nbsp;&nbsp;&nbsp; Altice Financing SA (Luxembourg) | &nbsp;&nbsp;&nbsp; Altice Financing SA (Luxembourg) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 167616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 810000 | &nbsp;&nbsp;&nbsp;&nbsp; 541461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 533000 | &nbsp;&nbsp;&nbsp;&nbsp; 355777 |
| &nbsp;&nbsp;&nbsp; Altice France SA (France) | &nbsp;&nbsp;&nbsp; Altice France SA (France) | &nbsp;&nbsp;&nbsp; Altice France SA (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 474029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1481000 | &nbsp;&nbsp;&nbsp;&nbsp; 1440908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 946000 | &nbsp;&nbsp;&nbsp;&nbsp; 922080 |
| &nbsp;&nbsp;&nbsp; Bell Canada (The) (Canada) | &nbsp;&nbsp;&nbsp; Bell Canada (The) (Canada) | &nbsp;&nbsp;&nbsp; Bell Canada (The) (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%), 6.88%, 9/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 798000 | &nbsp;&nbsp;&nbsp;&nbsp; 828284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.36%), 7.00%, 9/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 230409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British Telecommunications plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + <br> 2.99%), 4.25%, 11/23/2081 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 326479 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC  | &nbsp;&nbsp;&nbsp; CCO Holdings LLC  | &nbsp;&nbsp;&nbsp; CCO Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 25963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 452000 | &nbsp;&nbsp;&nbsp;&nbsp; 448225 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2157000 | &nbsp;&nbsp;&nbsp;&nbsp; 2135986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1909000 | &nbsp;&nbsp;&nbsp;&nbsp; 1818279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1046000 | &nbsp;&nbsp;&nbsp;&nbsp; 978734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1168000 | &nbsp;&nbsp;&nbsp;&nbsp; 1075998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1689000 | &nbsp;&nbsp;&nbsp;&nbsp; 1723371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 867000 | &nbsp;&nbsp;&nbsp;&nbsp; 796630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1189000 | &nbsp;&nbsp;&nbsp;&nbsp; 1044544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1131000 | &nbsp;&nbsp;&nbsp;&nbsp; 958328 |
| &nbsp;&nbsp;&nbsp; Connect Holding II LLC 10.50%, 4/3/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1005000 | &nbsp;&nbsp;&nbsp;&nbsp; 952626 |
| &nbsp;&nbsp;&nbsp; Embarq LLC 8.00%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 193707 |
| &nbsp;&nbsp;&nbsp; Fibercop SpA (Italy) | &nbsp;&nbsp;&nbsp; Fibercop SpA (Italy) | &nbsp;&nbsp;&nbsp; Fibercop SpA (Italy) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2033, 6.38%, 11/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 227000 | &nbsp;&nbsp;&nbsp;&nbsp; 222300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/30/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 387000 | &nbsp;&nbsp;&nbsp;&nbsp; 363182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 6/4/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 347472 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC  | &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC  | &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 11039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1224000 | &nbsp;&nbsp;&nbsp;&nbsp; 1235481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 439000 | &nbsp;&nbsp;&nbsp;&nbsp; 445705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1009000 | &nbsp;&nbsp;&nbsp;&nbsp; 1054856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 241000 | &nbsp;&nbsp;&nbsp;&nbsp; 254544 |
| &nbsp;&nbsp;&nbsp; Frontier Florida LLC Series E, 6.86%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 336000 | &nbsp;&nbsp;&nbsp;&nbsp; 348180 |
| &nbsp;&nbsp;&nbsp; GCI LLC 4.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 333000 | &nbsp;&nbsp;&nbsp;&nbsp; 322691 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.  | &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.  | &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 384751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 709000 | &nbsp;&nbsp;&nbsp;&nbsp; 623917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/30/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1081000 | &nbsp;&nbsp;&nbsp;&nbsp; 1100876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/31/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1106000 | &nbsp;&nbsp;&nbsp;&nbsp; 1132809 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.  | &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.  | &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 542000 | &nbsp;&nbsp;&nbsp;&nbsp; 502271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series P, 7.60%, 9/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 318000 | &nbsp;&nbsp;&nbsp;&nbsp; 308460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, 7.65%, 3/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 53000 | &nbsp;&nbsp;&nbsp;&nbsp; 50748 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA (Italy) | &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA (Italy) | &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA (Italy) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/30/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 7/18/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 87000 | &nbsp;&nbsp;&nbsp;&nbsp; 94606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 6/4/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 830135 |
| &nbsp;&nbsp;&nbsp; Telesat Canada (Canada) 5.63%, 12/6/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 184875 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. (Canada) | &nbsp;&nbsp;&nbsp; TELUS Corp. (Canada) | &nbsp;&nbsp;&nbsp; TELUS Corp. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 6.63%, 10/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 137328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.71%), 7.00%, 10/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 532000 | &nbsp;&nbsp;&nbsp;&nbsp; 555344 |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance plc (United Kingdom) 5.00%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1056000 | &nbsp;&nbsp;&nbsp;&nbsp; 934585 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1425000 | &nbsp;&nbsp;&nbsp;&nbsp; 1399136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 833000 | &nbsp;&nbsp;&nbsp;&nbsp; 776677 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC  | &nbsp;&nbsp;&nbsp; Windstream Services LLC  | &nbsp;&nbsp;&nbsp; Windstream Services LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1042000 | &nbsp;&nbsp;&nbsp;&nbsp; 1081845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 737819 |
| &nbsp;&nbsp;&nbsp; WULF Compute LLC 7.75%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1087000 | &nbsp;&nbsp;&nbsp;&nbsp; 1123872 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25% (Blend (Cash 8.75% + PIK 0.50%)), 3/9/2030 (a) (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 495925 | &nbsp;&nbsp;&nbsp;&nbsp; 456491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.75% (Blend (Cash 11.87% + PIK 1.88%)), 9/9/2030 (a) (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 376000 | &nbsp;&nbsp;&nbsp;&nbsp; 333348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 34799913 |
| **Electric Utilities — 2.0%** | **Electric Utilities — 2.0%** | **Electric Utilities — 2.0%** |
| &nbsp;&nbsp;&nbsp; Alpha Generation LLC  | &nbsp;&nbsp;&nbsp; Alpha Generation LLC  | &nbsp;&nbsp;&nbsp; Alpha Generation LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 429000 | &nbsp;&nbsp;&nbsp;&nbsp; 441522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 18028 |
| &nbsp;&nbsp;&nbsp; DPL LLC 4.35%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 113860 |
| &nbsp;&nbsp;&nbsp; Edison International (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.66%), 7.88%, 6/15/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 231934 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. (Canada) Series 16-A, (3-MONTH SOFR + 5.44%), 6.75%, 6/15/2076 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 46337 |
| &nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.14%), 7.63%, 12/15/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 601000 | &nbsp;&nbsp;&nbsp;&nbsp; 633003 |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Co., Inc. 6.00%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25313 |
| &nbsp;&nbsp;&nbsp; Leeward Renewable Energy Operations LLC 4.25%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 133331 |
| &nbsp;&nbsp;&nbsp; Long Ridge Energy LLC 8.75%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 363000 | &nbsp;&nbsp;&nbsp;&nbsp; 380007 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc.  | &nbsp;&nbsp;&nbsp; NRG Energy, Inc.  | &nbsp;&nbsp;&nbsp; NRG Energy, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 474238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 942000 | &nbsp;&nbsp;&nbsp;&nbsp; 945971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 767000 | &nbsp;&nbsp;&nbsp;&nbsp; 770825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 792000 | &nbsp;&nbsp;&nbsp;&nbsp; 740199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 517000 | &nbsp;&nbsp;&nbsp;&nbsp; 527959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/1/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 889000 | &nbsp;&nbsp;&nbsp;&nbsp; 902861 |
| &nbsp;&nbsp;&nbsp; PacifiCorp (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.32%), 7.38%, 9/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 509000 | &nbsp;&nbsp;&nbsp;&nbsp; 517572 |
| &nbsp;&nbsp;&nbsp; Pattern Energy Operations LP 4.50%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 319000 | &nbsp;&nbsp;&nbsp;&nbsp; 310870 |
| &nbsp;&nbsp;&nbsp; PG&E Corp.  | &nbsp;&nbsp;&nbsp; PG&E Corp.  | &nbsp;&nbsp;&nbsp; PG&E Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 798000 | &nbsp;&nbsp;&nbsp;&nbsp; 790407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.88%), 7.38%, 3/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 713000 | &nbsp;&nbsp;&nbsp;&nbsp; 737138 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  | &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  | &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 961000 | &nbsp;&nbsp;&nbsp;&nbsp; 948778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1054000 | &nbsp;&nbsp;&nbsp;&nbsp; 1119549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 764000 | &nbsp;&nbsp;&nbsp;&nbsp; 803536 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP  | &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP  | &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 464000 | &nbsp;&nbsp;&nbsp;&nbsp; 455872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 897000 | &nbsp;&nbsp;&nbsp;&nbsp; 919273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 172000 | &nbsp;&nbsp;&nbsp;&nbsp; 179840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13178528 |
| **Electrical Equipment — 0.2%** | **Electrical Equipment — 0.2%** | **Electrical Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. 4.25%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 269782 |
| &nbsp;&nbsp;&nbsp; EnerSys  | &nbsp;&nbsp;&nbsp; EnerSys  | &nbsp;&nbsp;&nbsp; EnerSys  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 118000 | &nbsp;&nbsp;&nbsp;&nbsp; 117191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 146530 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV 5.88%, 9/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 547422 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1080925 |
| **Electronic Equipment, Instruments & Components — 0.3%** | **Electronic Equipment, Instruments & Components — 0.3%** | **Electronic Equipment, Instruments & Components — 0.3%** |
| &nbsp;&nbsp;&nbsp; Coherent Corp. 5.00%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 436054 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Electronic Equipment, Instruments & Components — continued** | **Electronic Equipment, Instruments & Components — continued** | **Electronic Equipment, Instruments & Components — continued** |
| &nbsp;&nbsp;&nbsp; Crane NXT Co. 4.20%, 3/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 100027 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. 6.63%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 260035 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.  | &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.  | &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 377000 | &nbsp;&nbsp;&nbsp;&nbsp; 367267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 151000 | &nbsp;&nbsp;&nbsp;&nbsp; 141208 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. 4.00%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 258605 |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp. 6.50%, 6/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 231203 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1794399 |
| **Energy Equipment & Services — 1.7%** | **Energy Equipment & Services — 1.7%** | **Energy Equipment & Services — 1.7%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP  | &nbsp;&nbsp;&nbsp; Archrock Partners LP  | &nbsp;&nbsp;&nbsp; Archrock Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 581000 | &nbsp;&nbsp;&nbsp;&nbsp; 584567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 120478 |
| &nbsp;&nbsp;&nbsp; Borr IHC Ltd. (Mexico) | &nbsp;&nbsp;&nbsp; Borr IHC Ltd. (Mexico) | &nbsp;&nbsp;&nbsp; Borr IHC Ltd. (Mexico) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 385854 | &nbsp;&nbsp;&nbsp;&nbsp; 383165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.38%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 419854 | &nbsp;&nbsp;&nbsp;&nbsp; 415656 |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc. 6.88%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 248803 |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co. 8.50%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 253165 |
| &nbsp;&nbsp;&nbsp; Enerflex Ltd. (Canada) 9.00%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp; 319726 |
| &nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc. 9.75%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 205793 |
| &nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC  | &nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC  | &nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 357616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/1/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 503468 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.  | &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.  | &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 68149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 8/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp; 306621 |
| &nbsp;&nbsp;&nbsp; Nine Energy Service, Inc. 13.00%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 182000 | &nbsp;&nbsp;&nbsp;&nbsp; 65520 |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC 8.00%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 692000 | &nbsp;&nbsp;&nbsp;&nbsp; 718905 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc. 6.00%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 136055 |
| &nbsp;&nbsp;&nbsp; Precision Drilling Corp. (Canada) 6.88%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 178000 | &nbsp;&nbsp;&nbsp;&nbsp; 179063 |
| &nbsp;&nbsp;&nbsp; Seadrill Finance Ltd. (Norway) 8.38%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 399000 | &nbsp;&nbsp;&nbsp;&nbsp; 412388 |
| &nbsp;&nbsp;&nbsp; SESI LLC 7.88%, 9/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 183086 |
| &nbsp;&nbsp;&nbsp; Star Holding LLC 8.75%, 8/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 153447 |
| &nbsp;&nbsp;&nbsp; TGS ASA (Norway) 8.50%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 169000 | &nbsp;&nbsp;&nbsp;&nbsp; 175231 |
| &nbsp;&nbsp;&nbsp; Tidewater, Inc. 9.13%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 300419 |
| &nbsp;&nbsp;&nbsp; Transocean Aquila Ltd. 8.00%, 9/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 59292 | &nbsp;&nbsp;&nbsp;&nbsp; 60859 |
| &nbsp;&nbsp;&nbsp; Transocean International Ltd.  | &nbsp;&nbsp;&nbsp; Transocean International Ltd.  | &nbsp;&nbsp;&nbsp; Transocean International Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 652000 | &nbsp;&nbsp;&nbsp;&nbsp; 663226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 270817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 348165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 3/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 353000 | &nbsp;&nbsp;&nbsp;&nbsp; 316143 |
| &nbsp;&nbsp;&nbsp; Transocean Titan Financing Ltd. 8.38%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 339190 | &nbsp;&nbsp;&nbsp;&nbsp; 348517 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP  | &nbsp;&nbsp;&nbsp; USA Compression Partners LP  | &nbsp;&nbsp;&nbsp; USA Compression Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 524000 | &nbsp;&nbsp;&nbsp;&nbsp; 544679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 316000 | &nbsp;&nbsp;&nbsp;&nbsp; 318832 |
| &nbsp;&nbsp;&nbsp; Valaris Ltd. 8.38%, 4/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 579011 |
| &nbsp;&nbsp;&nbsp; Vallourec SACA (France) 7.50%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 420543 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Energy Equipment & Services — continued** | **Energy Equipment & Services — continued** | **Energy Equipment & Services — continued** |
| &nbsp;&nbsp;&nbsp; Viridien (France) 10.00%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 229810 |
| &nbsp;&nbsp;&nbsp; WBI Operating LLC 6.50%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 302853 |
| &nbsp;&nbsp;&nbsp; Weatherford International Ltd.  | &nbsp;&nbsp;&nbsp; Weatherford International Ltd.  | &nbsp;&nbsp;&nbsp; Weatherford International Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 4/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 199926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 476000 | &nbsp;&nbsp;&nbsp;&nbsp; 487178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11207381 |
| **Entertainment — 1.1%** | **Entertainment — 1.1%** | **Entertainment — 1.1%** |
| &nbsp;&nbsp;&nbsp; Allen Media LLC 10.50%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp; 135020 |
| &nbsp;&nbsp;&nbsp; AMC Entertainment Holdings, Inc. 7.50%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 83569 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.  | &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.  | &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 158586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 432555 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.  | &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.  | &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1041000 | &nbsp;&nbsp;&nbsp;&nbsp; 1039230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 114000 | &nbsp;&nbsp;&nbsp;&nbsp; 111991 |
| &nbsp;&nbsp;&nbsp; Odeon Finco plc (United Kingdom) 12.75%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 315367 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp. 3.88%, 5/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 521000 | &nbsp;&nbsp;&nbsp;&nbsp; 498143 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.76%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 173137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 738000 | &nbsp;&nbsp;&nbsp;&nbsp; 715854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1904000 | &nbsp;&nbsp;&nbsp;&nbsp; 1739780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 3/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1234000 | &nbsp;&nbsp;&nbsp;&nbsp; 987040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1291000 | &nbsp;&nbsp;&nbsp;&nbsp; 965668 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7355940 |
| **Financial Services — 3.1%** | **Financial Services — 3.1%** | **Financial Services — 3.1%** |
| &nbsp;&nbsp;&nbsp; Block, Inc.  | &nbsp;&nbsp;&nbsp; Block, Inc.  | &nbsp;&nbsp;&nbsp; Block, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 6/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1040000 | &nbsp;&nbsp;&nbsp;&nbsp; 975582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1431750 |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC 7.50%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 807000 | &nbsp;&nbsp;&nbsp;&nbsp; 856994 |
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC  | &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC  | &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 199644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 7/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 629000 | &nbsp;&nbsp;&nbsp;&nbsp; 653607 |
| &nbsp;&nbsp;&nbsp; CPI CG, Inc. 10.00%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 120807 |
| &nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo LLC 6.50%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 81000 | &nbsp;&nbsp;&nbsp;&nbsp; 82028 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Corp. 12.25%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 543000 | &nbsp;&nbsp;&nbsp;&nbsp; 602718 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings LLC  | &nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings LLC  | &nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 518000 | &nbsp;&nbsp;&nbsp;&nbsp; 543058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 5/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 244000 | &nbsp;&nbsp;&nbsp;&nbsp; 261083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 167018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 4/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 299000 | &nbsp;&nbsp;&nbsp;&nbsp; 308998 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc. 7.88%, 9/30/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 494000 | &nbsp;&nbsp;&nbsp;&nbsp; 470692 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC  | &nbsp;&nbsp;&nbsp; Jefferies Finance LLC  | &nbsp;&nbsp;&nbsp; Jefferies Finance LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp; 301108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195191 |
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC  | &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC  | &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 163651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 234000 | &nbsp;&nbsp;&nbsp;&nbsp; 244798 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Financial Services — continued** | **Financial Services — continued** | **Financial Services — continued** |
| &nbsp;&nbsp;&nbsp; LD Holdings Group LLC 6.13%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 451000 | &nbsp;&nbsp;&nbsp;&nbsp; 416347 |
| &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust  | &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust  | &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 409654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 215442 |
| &nbsp;&nbsp;&nbsp; Mobius Merger Sub, Inc. 9.00%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 244000 | &nbsp;&nbsp;&nbsp;&nbsp; 174182 |
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp. 9.50%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 627000 | &nbsp;&nbsp;&nbsp;&nbsp; 677673 |
| &nbsp;&nbsp;&nbsp; Oxford Finance LLC 6.38%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 172803 |
| &nbsp;&nbsp;&nbsp; Paysafe Finance plc 4.00%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 252000 | &nbsp;&nbsp;&nbsp;&nbsp; 228771 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc.  | &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc.  | &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 446648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 681000 | &nbsp;&nbsp;&nbsp;&nbsp; 726348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 364206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 488821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 2/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 207000 | &nbsp;&nbsp;&nbsp;&nbsp; 215458 |
| &nbsp;&nbsp;&nbsp; PHH Escrow Issuer LLC 9.88%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 216710 |
| &nbsp;&nbsp;&nbsp; Planet Financial Group LLC 10.50%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 272339 |
| &nbsp;&nbsp;&nbsp; Provident Funding Associates LP 9.75%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp; 333864 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc.  | &nbsp;&nbsp;&nbsp; Rocket Cos., Inc.  | &nbsp;&nbsp;&nbsp; Rocket Cos., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 240652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1363000 | &nbsp;&nbsp;&nbsp;&nbsp; 1414878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 599282 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC  | &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC  | &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 306000 | &nbsp;&nbsp;&nbsp;&nbsp; 295560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 428000 | &nbsp;&nbsp;&nbsp;&nbsp; 404786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 961000 | &nbsp;&nbsp;&nbsp;&nbsp; 890358 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC 6.75%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 800347 |
| &nbsp;&nbsp;&nbsp; Stena International SA (Sweden) 7.25%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 528000 | &nbsp;&nbsp;&nbsp;&nbsp; 538135 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC  | &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC  | &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 263000 | &nbsp;&nbsp;&nbsp;&nbsp; 263611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 356276 |
| &nbsp;&nbsp;&nbsp; UWM Holdings LLC  | &nbsp;&nbsp;&nbsp; UWM Holdings LLC  | &nbsp;&nbsp;&nbsp; UWM Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 481000 | &nbsp;&nbsp;&nbsp;&nbsp; 488793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50221 |
| &nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc. 6.63%, 4/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 201456 |
| &nbsp;&nbsp;&nbsp; WEX, Inc. 6.50%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 332000 | &nbsp;&nbsp;&nbsp;&nbsp; 338612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19820960 |
| **Food Products — 1.4%** | **Food Products — 1.4%** | **Food Products — 1.4%** |
| &nbsp;&nbsp;&nbsp; Aragvi Finance International DAC (Moldova, Republic of) 11.13%, 11/20/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 248000 | &nbsp;&nbsp;&nbsp;&nbsp; 245520 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc.  | &nbsp;&nbsp;&nbsp; B&G Foods, Inc.  | &nbsp;&nbsp;&nbsp; B&G Foods, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 356476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 196427 |
| &nbsp;&nbsp;&nbsp; Chobani LLC 7.63%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 685000 | &nbsp;&nbsp;&nbsp;&nbsp; 714713 |
| &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.  | &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.  | &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 586000 | &nbsp;&nbsp;&nbsp;&nbsp; 586134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 87000 | &nbsp;&nbsp;&nbsp;&nbsp; 88347 |
| &nbsp;&nbsp;&nbsp; Fiesta Purchaser, Inc. 7.88%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 443906 |
| &nbsp;&nbsp;&nbsp; Froneri Lux FinCo. SARL (United Kingdom) 6.00%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 267450 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Food Products — continued** | **Food Products — continued** | **Food Products — continued** |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 89046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 358948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/31/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 511000 | &nbsp;&nbsp;&nbsp;&nbsp; 489096 |
| &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.  | &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.  | &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 915000 | &nbsp;&nbsp;&nbsp;&nbsp; 891282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 401000 | &nbsp;&nbsp;&nbsp;&nbsp; 370879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 19302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp; 120965 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Post Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Post Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp; 214037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1168000 | &nbsp;&nbsp;&nbsp;&nbsp; 1137649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 799000 | &nbsp;&nbsp;&nbsp;&nbsp; 753429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 694000 | &nbsp;&nbsp;&nbsp;&nbsp; 716601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp; 18282 |
| &nbsp;&nbsp;&nbsp; Simmons Foods, Inc. 4.63%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 464000 | &nbsp;&nbsp;&nbsp;&nbsp; 446166 |
| &nbsp;&nbsp;&nbsp; TreeHouse Foods, Inc. 4.00%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 214844 |
| &nbsp;&nbsp;&nbsp; Viking Baked Goods Acquisition Corp. 8.63%, 11/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 389000 | &nbsp;&nbsp;&nbsp;&nbsp; 393032 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9132531 |
| **Gas Utilities — 0.5%** | **Gas Utilities — 0.5%** | **Gas Utilities — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AltaGas Ltd. (Canada) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.57%), 7.20%, <br> 10/15/2054 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 484000 | &nbsp;&nbsp;&nbsp;&nbsp; 500746 |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP  | &nbsp;&nbsp;&nbsp; AmeriGas Partners LP  | &nbsp;&nbsp;&nbsp; AmeriGas Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 486896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 292766 |
| &nbsp;&nbsp;&nbsp; Ferrellgas LP  | &nbsp;&nbsp;&nbsp; Ferrellgas LP  | &nbsp;&nbsp;&nbsp; Ferrellgas LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 353000 | &nbsp;&nbsp;&nbsp;&nbsp; 337204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 581000 | &nbsp;&nbsp;&nbsp;&nbsp; 586797 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP 5.00%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 442000 | &nbsp;&nbsp;&nbsp;&nbsp; 424258 |
| &nbsp;&nbsp;&nbsp; Superior Plus LP (Canada) 4.50%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 335620 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2964287 |
| **Ground Transportation — 1.2%** | **Ground Transportation — 1.2%** | **Ground Transportation — 1.2%** |
| &nbsp;&nbsp;&nbsp; Albion Financing 1 SARL (Luxembourg) 7.00%, 5/21/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 548000 | &nbsp;&nbsp;&nbsp;&nbsp; 569621 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC  | &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC  | &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 477000 | &nbsp;&nbsp;&nbsp;&nbsp; 476208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 142000 | &nbsp;&nbsp;&nbsp;&nbsp; 138484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 213249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 89867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 574000 | &nbsp;&nbsp;&nbsp;&nbsp; 591010 |
| &nbsp;&nbsp;&nbsp; Beacon Mobility Corp. 7.25%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 282574 |
| &nbsp;&nbsp;&nbsp; Brightline East LLC 11.00%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 332000 | &nbsp;&nbsp;&nbsp;&nbsp; 114881 |
| &nbsp;&nbsp;&nbsp; Carriage Purchaser, Inc. 7.88%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 81369 |
| &nbsp;&nbsp;&nbsp; Clue Opco LLC 9.50%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 391000 | &nbsp;&nbsp;&nbsp;&nbsp; 404845 |
| &nbsp;&nbsp;&nbsp; Dcli Bidco LLC 7.75%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 213363 |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc.  | &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc.  | &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 566464 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Ground Transportation — continued** | **Ground Transportation — continued** | **Ground Transportation — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 61000 | &nbsp;&nbsp;&nbsp;&nbsp; 62736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 399000 | &nbsp;&nbsp;&nbsp;&nbsp; 406713 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc. 4.00%, 7/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 278000 | &nbsp;&nbsp;&nbsp;&nbsp; 271484 |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc. 6.25%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 311567 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The)  | &nbsp;&nbsp;&nbsp; Hertz Corp. (The)  | &nbsp;&nbsp;&nbsp; Hertz Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 106000 | &nbsp;&nbsp;&nbsp;&nbsp; 103235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.63%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 878000 | &nbsp;&nbsp;&nbsp;&nbsp; 877198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 87000 | &nbsp;&nbsp;&nbsp;&nbsp; 59876 |
| &nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc. 5.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 444365 |
| &nbsp;&nbsp;&nbsp; RXO, Inc. 7.50%, 11/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 155869 |
| &nbsp;&nbsp;&nbsp; Star Leasing Co. LLC 7.63%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 533000 | &nbsp;&nbsp;&nbsp;&nbsp; 509199 |
| &nbsp;&nbsp;&nbsp; Watco Cos. LLC 7.13%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 341000 | &nbsp;&nbsp;&nbsp;&nbsp; 356343 |
| &nbsp;&nbsp;&nbsp; XPO CNW, Inc. 6.70%, 5/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 137341 |
| &nbsp;&nbsp;&nbsp; XPO, Inc.  | &nbsp;&nbsp;&nbsp; XPO, Inc.  | &nbsp;&nbsp;&nbsp; XPO, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 67997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 384000 | &nbsp;&nbsp;&nbsp;&nbsp; 405743 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7927048 |
| **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc.  | &nbsp;&nbsp;&nbsp; Avantor Funding, Inc.  | &nbsp;&nbsp;&nbsp; Avantor Funding, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1028000 | &nbsp;&nbsp;&nbsp;&nbsp; 1018291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 42949 |
| &nbsp;&nbsp;&nbsp; Bausch + Lomb Corp. 8.38%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 631000 | &nbsp;&nbsp;&nbsp;&nbsp; 657818 |
| &nbsp;&nbsp;&nbsp; DENTSPLY SIRONA, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.38%), 8.38%, 9/12/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp; 303257 |
| &nbsp;&nbsp;&nbsp; Embecta Corp. 5.00%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 206825 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc.  | &nbsp;&nbsp;&nbsp; Hologic, Inc.  | &nbsp;&nbsp;&nbsp; Hologic, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 147000 | &nbsp;&nbsp;&nbsp;&nbsp; 147124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 437000 | &nbsp;&nbsp;&nbsp;&nbsp; 431741 |
| &nbsp;&nbsp;&nbsp; Insulet Corp. 6.50%, 4/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 212024 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP  | &nbsp;&nbsp;&nbsp; Medline Borrower LP  | &nbsp;&nbsp;&nbsp; Medline Borrower LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2664000 | &nbsp;&nbsp;&nbsp;&nbsp; 2586106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1048000 | &nbsp;&nbsp;&nbsp;&nbsp; 1050448 |
| &nbsp;&nbsp;&nbsp; Neogen Food Safety Corp. 8.63%, 7/20/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 255502 |
| &nbsp;&nbsp;&nbsp; Teleflex, Inc.  | &nbsp;&nbsp;&nbsp; Teleflex, Inc.  | &nbsp;&nbsp;&nbsp; Teleflex, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 321271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 103577 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp. 7.88%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 163179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7500112 |
| **Health Care Providers & Services — 4.1%** | **Health Care Providers & Services — 4.1%** | **Health Care Providers & Services — 4.1%** |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc.  | &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc.  | &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 507000 | &nbsp;&nbsp;&nbsp;&nbsp; 502269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 226000 | &nbsp;&nbsp;&nbsp;&nbsp; 219570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 39000 | &nbsp;&nbsp;&nbsp;&nbsp; 39744 |
| &nbsp;&nbsp;&nbsp; AdaptHealth LLC  | &nbsp;&nbsp;&nbsp; AdaptHealth LLC  | &nbsp;&nbsp;&nbsp; AdaptHealth LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 483000 | &nbsp;&nbsp;&nbsp;&nbsp; 487202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 205866 |
| &nbsp;&nbsp;&nbsp; AHP Health Partners, Inc. 5.75%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 162777 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc.  | &nbsp;&nbsp;&nbsp; Community Health Systems, Inc.  | &nbsp;&nbsp;&nbsp; Community Health Systems, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 128990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 258116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 319903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 609000 | &nbsp;&nbsp;&nbsp;&nbsp; 575320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1153000 | &nbsp;&nbsp;&nbsp;&nbsp; 1031519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1057000 | &nbsp;&nbsp;&nbsp;&nbsp; 1141692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 730000 | &nbsp;&nbsp;&nbsp;&nbsp; 776340 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc. 6.88%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 294200 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp.  | &nbsp;&nbsp;&nbsp; CVS Health Corp.  | &nbsp;&nbsp;&nbsp; CVS Health Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.52%), 6.75%, 12/10/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 502000 | &nbsp;&nbsp;&nbsp;&nbsp; 520241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 7.00%, 3/10/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 783000 | &nbsp;&nbsp;&nbsp;&nbsp; 823219 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.  | &nbsp;&nbsp;&nbsp; DaVita, Inc.  | &nbsp;&nbsp;&nbsp; DaVita, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 816000 | &nbsp;&nbsp;&nbsp;&nbsp; 791469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1134000 | &nbsp;&nbsp;&nbsp;&nbsp; 1051567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 9/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 366000 | &nbsp;&nbsp;&nbsp;&nbsp; 380833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 419000 | &nbsp;&nbsp;&nbsp;&nbsp; 435389 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp.  | &nbsp;&nbsp;&nbsp; Encompass Health Corp.  | &nbsp;&nbsp;&nbsp; Encompass Health Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 452000 | &nbsp;&nbsp;&nbsp;&nbsp; 451166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 471000 | &nbsp;&nbsp;&nbsp;&nbsp; 464460 |
| &nbsp;&nbsp;&nbsp; Global Medical Response, Inc. 7.38%, 10/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 331884 |
| &nbsp;&nbsp;&nbsp; HAH Group Holding Co. LLC 9.75%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 309000 | &nbsp;&nbsp;&nbsp;&nbsp; 291461 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. 4.50%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 255486 |
| &nbsp;&nbsp;&nbsp; Kedrion SpA (Italy) 6.50%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 369067 |
| &nbsp;&nbsp;&nbsp; LifePoint Health, Inc.  | &nbsp;&nbsp;&nbsp; LifePoint Health, Inc.  | &nbsp;&nbsp;&nbsp; LifePoint Health, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 682000 | &nbsp;&nbsp;&nbsp;&nbsp; 664803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 311000 | &nbsp;&nbsp;&nbsp;&nbsp; 342363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 728000 | &nbsp;&nbsp;&nbsp;&nbsp; 782133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 6/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 126000 | &nbsp;&nbsp;&nbsp;&nbsp; 133178 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.  | &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.  | &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 539000 | &nbsp;&nbsp;&nbsp;&nbsp; 524561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 526000 | &nbsp;&nbsp;&nbsp;&nbsp; 485944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 120782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 84190 |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC  | &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC  | &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 649000 | &nbsp;&nbsp;&nbsp;&nbsp; 571763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50% (Blend (Cash 6.50% + PIK 5.00%)), 12/31/2030 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 290389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75% (Blend (Cash 6.00% + PIK 0.75%)), 3/31/2031 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 92345 | &nbsp;&nbsp;&nbsp;&nbsp; 80332 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc. 4.38%, 10/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 218570 |
| &nbsp;&nbsp;&nbsp; Owens & Minor, Inc. 6.63%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 537000 | &nbsp;&nbsp;&nbsp;&nbsp; 344381 |
| &nbsp;&nbsp;&nbsp; Paradigm Parent LLC and Paradigm Parent CO-Issuer, Inc. 8.75%, 4/17/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 301000 | &nbsp;&nbsp;&nbsp;&nbsp; 285086 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. 5.38%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 173490 |
| &nbsp;&nbsp;&nbsp; Prime Healthcare Services, Inc. 9.38%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 728000 | &nbsp;&nbsp;&nbsp;&nbsp; 771826 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc.  | &nbsp;&nbsp;&nbsp; Radiology Partners, Inc.  | &nbsp;&nbsp;&nbsp; Radiology Partners, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.78% (PIK), 2/15/2030 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 440666 | &nbsp;&nbsp;&nbsp;&nbsp; 411738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 292928 |
| &nbsp;&nbsp;&nbsp; Select Medical Corp. 6.25%, 12/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 243271 |
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC 7.38%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 342279 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc. 9.00%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 541209 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc. 7.25%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 379000 | &nbsp;&nbsp;&nbsp;&nbsp; 388937 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings, Inc. 8.38%, 6/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 256130 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.  | &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.  | &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 41000 | &nbsp;&nbsp;&nbsp;&nbsp; 41004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 383000 | &nbsp;&nbsp;&nbsp;&nbsp; 383162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 484000 | &nbsp;&nbsp;&nbsp;&nbsp; 486096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1159000 | &nbsp;&nbsp;&nbsp;&nbsp; 1136033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 348000 | &nbsp;&nbsp;&nbsp;&nbsp; 341010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2091000 | &nbsp;&nbsp;&nbsp;&nbsp; 2178575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 636000 | &nbsp;&nbsp;&nbsp;&nbsp; 689498 |
| &nbsp;&nbsp;&nbsp; Toledo Hospital (The) Series B, 5.33%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 132280 |
| &nbsp;&nbsp;&nbsp; US Acute Care Solutions LLC 9.75%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 527000 | &nbsp;&nbsp;&nbsp;&nbsp; 535368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26583059 |
| **Health Care REITs — 0.4%** | **Health Care REITs — 0.4%** | **Health Care REITs — 0.4%** |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust  | &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust  | &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 228274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 142311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 191869 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP  | &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP  | &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 902000 | &nbsp;&nbsp;&nbsp;&nbsp; 871737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 248000 | &nbsp;&nbsp;&nbsp;&nbsp; 208856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1259000 | &nbsp;&nbsp;&nbsp;&nbsp; 923032 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2566079 |
| **Health Care Technology — 0.3%** | **Health Care Technology — 0.3%** | **Health Care Technology — 0.3%** |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc.  | &nbsp;&nbsp;&nbsp; IQVIA, Inc.  | &nbsp;&nbsp;&nbsp; IQVIA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 332000 | &nbsp;&nbsp;&nbsp;&nbsp; 345402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 6/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1228000 | &nbsp;&nbsp;&nbsp;&nbsp; 1284445 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1629847 |
| **Hotel & Resort REITs — 0.9%** | **Hotel & Resort REITs — 0.9%** | **Hotel & Resort REITs — 0.9%** |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC  | &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC  | &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp; 164155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 624000 | &nbsp;&nbsp;&nbsp;&nbsp; 605706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 183000 | &nbsp;&nbsp;&nbsp;&nbsp; 186832 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel LP 6.38%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 177234 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP  | &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP  | &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 119723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 331000 | &nbsp;&nbsp;&nbsp;&nbsp; 341476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 699000 | &nbsp;&nbsp;&nbsp;&nbsp; 689540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 342000 | &nbsp;&nbsp;&nbsp;&nbsp; 354451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 74000 | &nbsp;&nbsp;&nbsp;&nbsp; 76898 |
| &nbsp;&nbsp;&nbsp; RLJ Lodging Trust LP 4.00%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 373274 |
| &nbsp;&nbsp;&nbsp; Service Properties Trust  | &nbsp;&nbsp;&nbsp; Service Properties Trust  | &nbsp;&nbsp;&nbsp; Service Properties Trust  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 138000 | &nbsp;&nbsp;&nbsp;&nbsp; 137699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 241000 | &nbsp;&nbsp;&nbsp;&nbsp; 214720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 676000 | &nbsp;&nbsp;&nbsp;&nbsp; 662181 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Hotel & Resort REITs — continued** | **Hotel & Resort REITs — continued** | **Hotel & Resort REITs — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 132488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 487000 | &nbsp;&nbsp;&nbsp;&nbsp; 400646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 6/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 561000 | &nbsp;&nbsp;&nbsp;&nbsp; 540317 |
| &nbsp;&nbsp;&nbsp; XHR LP 4.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 487000 | &nbsp;&nbsp;&nbsp;&nbsp; 478379 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5655719 |
| **Hotels, Restaurants & Leisure — 6.5%** | **Hotels, Restaurants & Leisure — 6.5%** | **Hotels, Restaurants & Leisure — 6.5%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC (Canada) | &nbsp;&nbsp;&nbsp; 1011778 BC ULC (Canada) | &nbsp;&nbsp;&nbsp; 1011778 BC ULC (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 686000 | &nbsp;&nbsp;&nbsp;&nbsp; 677696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 879000 | &nbsp;&nbsp;&nbsp;&nbsp; 871201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 116826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 239195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 13247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1507000 | &nbsp;&nbsp;&nbsp;&nbsp; 1436000 |
| &nbsp;&nbsp;&nbsp; Affinity Interactive 6.88%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 102340 |
| &nbsp;&nbsp;&nbsp; BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer, Inc. 9.50%, 7/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 163856 |
| &nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. 5.13%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 116329 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. 4.75%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 915000 | &nbsp;&nbsp;&nbsp;&nbsp; 891437 |
| &nbsp;&nbsp;&nbsp; Boyne USA, Inc. 4.75%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 319000 | &nbsp;&nbsp;&nbsp;&nbsp; 313924 |
| &nbsp;&nbsp;&nbsp; Brightstar Lottery plc 5.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 656000 | &nbsp;&nbsp;&nbsp;&nbsp; 654880 |
| &nbsp;&nbsp;&nbsp; Brinker International, Inc. 8.25%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 186000 | &nbsp;&nbsp;&nbsp;&nbsp; 197337 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.  | &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.  | &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 670000 | &nbsp;&nbsp;&nbsp;&nbsp; 634094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 884000 | &nbsp;&nbsp;&nbsp;&nbsp; 915119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 965000 | &nbsp;&nbsp;&nbsp;&nbsp; 981552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 114000 | &nbsp;&nbsp;&nbsp;&nbsp; 108759 |
| &nbsp;&nbsp;&nbsp; Carnival Corp.  | &nbsp;&nbsp;&nbsp; Carnival Corp.  | &nbsp;&nbsp;&nbsp; Carnival Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1067000 | &nbsp;&nbsp;&nbsp;&nbsp; 1096627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1031000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp; 168119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 786000 | &nbsp;&nbsp;&nbsp;&nbsp; 809650 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc.  | &nbsp;&nbsp;&nbsp; Churchill Downs, Inc.  | &nbsp;&nbsp;&nbsp; Churchill Downs, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 129237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1108000 | &nbsp;&nbsp;&nbsp;&nbsp; 1116580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 13408 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC  | &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC  | &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 463000 | &nbsp;&nbsp;&nbsp;&nbsp; 445941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 579000 | &nbsp;&nbsp;&nbsp;&nbsp; 540002 |
| &nbsp;&nbsp;&nbsp; Full House Resorts, Inc. 8.25%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 187705 |
| &nbsp;&nbsp;&nbsp; Genting New York LLC 7.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206772 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp. (Canada) 8.75%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 304520 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc.  | &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc.  | &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 207000 | &nbsp;&nbsp;&nbsp;&nbsp; 212002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 861000 | &nbsp;&nbsp;&nbsp;&nbsp; 835353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 546194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 613000 | &nbsp;&nbsp;&nbsp;&nbsp; 585463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1190000 | &nbsp;&nbsp;&nbsp;&nbsp; 1105847 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 467000 | &nbsp;&nbsp;&nbsp;&nbsp; 481545 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower LLC  | &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower LLC  | &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 761000 | &nbsp;&nbsp;&nbsp;&nbsp; 704844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 328975 |
| &nbsp;&nbsp;&nbsp; Jacobs Entertainment, Inc. 6.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 208862 |
| &nbsp;&nbsp;&nbsp; Kingpin Intermediate Holdings LLC 7.25%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 208607 |
| &nbsp;&nbsp;&nbsp; Life Time, Inc. 6.00%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 227412 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc.  | &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc.  | &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 259843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 26195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 659025 |
| &nbsp;&nbsp;&nbsp; Lindblad Expeditions LLC 7.00%, 9/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 371261 |
| &nbsp;&nbsp;&nbsp; MajorDrive Holdings IV LLC 6.38%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 162520 |
| &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc.  | &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc.  | &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp; 262386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 187999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 241000 | &nbsp;&nbsp;&nbsp;&nbsp; 229111 |
| &nbsp;&nbsp;&nbsp; Merlin Entertainments Group US Holdings, Inc. (United Kingdom) 7.38%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 176873 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International  | &nbsp;&nbsp;&nbsp; MGM Resorts International  | &nbsp;&nbsp;&nbsp; MGM Resorts International  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 871000 | &nbsp;&nbsp;&nbsp;&nbsp; 866452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 677442 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC 4.88%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 317411 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority  | &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority  | &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 271000 | &nbsp;&nbsp;&nbsp;&nbsp; 281830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.88%, 4/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 386000 | &nbsp;&nbsp;&nbsp;&nbsp; 403671 |
| &nbsp;&nbsp;&nbsp; Motion Finco SARL (United Kingdom) 8.38%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 395751 |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.  | &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.  | &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 867000 | &nbsp;&nbsp;&nbsp;&nbsp; 919898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 305280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 137172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 928000 | &nbsp;&nbsp;&nbsp;&nbsp; 941827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 9/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24701 |
| &nbsp;&nbsp;&nbsp; NCL Finance Ltd. 6.13%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 81704 |
| &nbsp;&nbsp;&nbsp; Ontario Gaming GTA LP (Canada) 8.00%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 237340 |
| &nbsp;&nbsp;&nbsp; Papa John's International, Inc. 3.88%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 163000 | &nbsp;&nbsp;&nbsp;&nbsp; 156488 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.  | &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.  | &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 93208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 282106 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC  | &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC  | &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 319000 | &nbsp;&nbsp;&nbsp;&nbsp; 169637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 165000 |
| &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC  | &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC  | &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/16/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 175578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/6/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 412540 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Borrower LLC 6.63%, 2/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 263442 |
| &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc.  | &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc.  | &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 6/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 186172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 74803 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.13%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 806000 | &nbsp;&nbsp;&nbsp;&nbsp; 697142 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP 6.63%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 302871 |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment, Inc. 5.25%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp; 358886 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp.  | &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp.  | &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 434000 | &nbsp;&nbsp;&nbsp;&nbsp; 428442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 77925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 5/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 715151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 428950 |
| &nbsp;&nbsp;&nbsp; Speedway Motorsports LLC 4.88%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 151304 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC  | &nbsp;&nbsp;&nbsp; Station Casinos LLC  | &nbsp;&nbsp;&nbsp; Station Casinos LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 187935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 174114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 413000 | &nbsp;&nbsp;&nbsp;&nbsp; 422962 |
| &nbsp;&nbsp;&nbsp; TKC Holdings, Inc.  | &nbsp;&nbsp;&nbsp; TKC Holdings, Inc.  | &nbsp;&nbsp;&nbsp; TKC Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 206527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 260479 |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co.  | &nbsp;&nbsp;&nbsp; Travel + Leisure Co.  | &nbsp;&nbsp;&nbsp; Travel + Leisure Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/31/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 240425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/1/2027 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 352386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 68164 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. 6.50%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 489000 | &nbsp;&nbsp;&nbsp;&nbsp; 508317 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd.  | &nbsp;&nbsp;&nbsp; Viking Cruises Ltd.  | &nbsp;&nbsp;&nbsp; Viking Cruises Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 709000 | &nbsp;&nbsp;&nbsp;&nbsp; 712633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 7/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 178000 | &nbsp;&nbsp;&nbsp;&nbsp; 190950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 118897 |
| &nbsp;&nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd. 5.63%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 48013 |
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd. 5.00%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 367000 | &nbsp;&nbsp;&nbsp;&nbsp; 366935 |
| &nbsp;&nbsp;&nbsp; Voyager Parent LLC 9.25%, 7/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 916000 | &nbsp;&nbsp;&nbsp;&nbsp; 970644 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. 4.38%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 219468 |
| &nbsp;&nbsp;&nbsp; Wynn Las Vegas LLC 5.25%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 391000 | &nbsp;&nbsp;&nbsp;&nbsp; 392482 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC  | &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC  | &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 291455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 757000 | &nbsp;&nbsp;&nbsp;&nbsp; 817817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 35789 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc.  | &nbsp;&nbsp;&nbsp; Yum! Brands, Inc.  | &nbsp;&nbsp;&nbsp; Yum! Brands, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 99285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 587000 | &nbsp;&nbsp;&nbsp;&nbsp; 556476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp; 733557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 876000 | &nbsp;&nbsp;&nbsp;&nbsp; 888994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 61578 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 42050199 |
| **Household Durables — 1.9%** | **Household Durables — 1.9%** | **Household Durables — 1.9%** |
| &nbsp;&nbsp;&nbsp; Adams Homes, Inc. 9.25%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 179511 |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC  | &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC  | &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 414648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 8/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 169000 | &nbsp;&nbsp;&nbsp;&nbsp; 169861 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Household Durables — continued** | **Household Durables — continued** | **Household Durables — continued** |
| &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc.  | &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc.  | &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 195229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 224998 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 529000 | &nbsp;&nbsp;&nbsp;&nbsp; 529603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 124285 |
| &nbsp;&nbsp;&nbsp; CD&R Smokey Buyer, Inc. 9.50%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 296436 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc.  | &nbsp;&nbsp;&nbsp; Century Communities, Inc.  | &nbsp;&nbsp;&nbsp; Century Communities, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 444000 | &nbsp;&nbsp;&nbsp;&nbsp; 421809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 192000 | &nbsp;&nbsp;&nbsp;&nbsp; 194697 |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes, Inc. 8.25%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 106000 | &nbsp;&nbsp;&nbsp;&nbsp; 108612 |
| &nbsp;&nbsp;&nbsp; Empire Communities Corp. (Canada) 9.75%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 205020 |
| &nbsp;&nbsp;&nbsp; FXI Holdings, Inc.  | &nbsp;&nbsp;&nbsp; FXI Holdings, Inc.  | &nbsp;&nbsp;&nbsp; FXI Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.00%, 11/15/2029 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 177459 | &nbsp;&nbsp;&nbsp;&nbsp; 131320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 11/15/2030 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 296808 | &nbsp;&nbsp;&nbsp;&nbsp; 184392 |
| &nbsp;&nbsp;&nbsp; K. Hovnanian Enterprises, Inc. 8.38%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 406712 |
| &nbsp;&nbsp;&nbsp; KB Home  | &nbsp;&nbsp;&nbsp; KB Home  | &nbsp;&nbsp;&nbsp; KB Home  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 443000 | &nbsp;&nbsp;&nbsp;&nbsp; 452325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 36183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 92000 | &nbsp;&nbsp;&nbsp;&nbsp; 87247 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.  | &nbsp;&nbsp;&nbsp; LGI Homes, Inc.  | &nbsp;&nbsp;&nbsp; LGI Homes, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 34000 | &nbsp;&nbsp;&nbsp;&nbsp; 35422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 93217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 11/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 336028 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. 4.95%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 301161 |
| &nbsp;&nbsp;&nbsp; Mattamy Group Corp. (Canada) | &nbsp;&nbsp;&nbsp; Mattamy Group Corp. (Canada) | &nbsp;&nbsp;&nbsp; Mattamy Group Corp. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 202871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 299000 | &nbsp;&nbsp;&nbsp;&nbsp; 290078 |
| &nbsp;&nbsp;&nbsp; New Home Co., Inc. (The) 9.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 304000 | &nbsp;&nbsp;&nbsp;&nbsp; 315630 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc.  | &nbsp;&nbsp;&nbsp; Newell Brands, Inc.  | &nbsp;&nbsp;&nbsp; Newell Brands, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 322946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 109302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 312000 | &nbsp;&nbsp;&nbsp;&nbsp; 307062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 877000 | &nbsp;&nbsp;&nbsp;&nbsp; 825820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.37%, 4/1/2036 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 170810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2046 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 246000 | &nbsp;&nbsp;&nbsp;&nbsp; 202372 |
| &nbsp;&nbsp;&nbsp; Shea Homes LP 4.75%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 318962 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc.  | &nbsp;&nbsp;&nbsp; Somnigroup International, Inc.  | &nbsp;&nbsp;&nbsp; Somnigroup International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 598000 | &nbsp;&nbsp;&nbsp;&nbsp; 582274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 83000 | &nbsp;&nbsp;&nbsp;&nbsp; 77656 |
| &nbsp;&nbsp;&nbsp; STL Holding Co. LLC 8.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 127585 |
| &nbsp;&nbsp;&nbsp; SWF Holdings I Corp. 6.50%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 16800 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc. 5.13%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 571000 | &nbsp;&nbsp;&nbsp;&nbsp; 573591 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp. 4.13%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 761000 | &nbsp;&nbsp;&nbsp;&nbsp; 725593 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc.  | &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc.  | &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 84637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 200484 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Household Durables — continued** | **Household Durables — continued** | **Household Durables — continued** |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp.  | &nbsp;&nbsp;&nbsp; Whirlpool Corp.  | &nbsp;&nbsp;&nbsp; Whirlpool Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 621044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 190261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 411020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 154000 | &nbsp;&nbsp;&nbsp;&nbsp; 148039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 263877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 5/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 187000 | &nbsp;&nbsp;&nbsp;&nbsp; 142935 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12360365 |
| **Household Products — 0.2%** | **Household Products — 0.2%** | **Household Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co.  | &nbsp;&nbsp;&nbsp; Central Garden & Pet Co.  | &nbsp;&nbsp;&nbsp; Central Garden & Pet Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 354623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 147270 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 483000 | &nbsp;&nbsp;&nbsp;&nbsp; 476991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp; 254963 |
| &nbsp;&nbsp;&nbsp; Kronos Acquisition Holdings, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Kronos Acquisition Holdings, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Kronos Acquisition Holdings, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 6/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 183000 | &nbsp;&nbsp;&nbsp;&nbsp; 121977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 6/30/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 172723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1528547 |
| **Independent Power and Renewable Electricity Producers — 1.1%** | **Independent Power and Renewable Electricity Producers — 1.1%** | **Independent Power and Renewable Electricity Producers — 1.1%** |
| &nbsp;&nbsp;&nbsp; AES Corp. (The)  | &nbsp;&nbsp;&nbsp; AES Corp. (The)  | &nbsp;&nbsp;&nbsp; AES Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.20%), 7.60%, 1/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 6.95%, 7/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 482882 |
| &nbsp;&nbsp;&nbsp; Atlantica Sustainable Infrastructure Ltd. (Spain) 4.13%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 481000 | &nbsp;&nbsp;&nbsp;&nbsp; 470039 |
| &nbsp;&nbsp;&nbsp; Calpine Corp.  | &nbsp;&nbsp;&nbsp; Calpine Corp.  | &nbsp;&nbsp;&nbsp; Calpine Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp;&nbsp; 638711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp; 161452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 612000 | &nbsp;&nbsp;&nbsp;&nbsp; 613319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 738153 |
| &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC  | &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC  | &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 748000 | &nbsp;&nbsp;&nbsp;&nbsp; 747821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 78268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 67000 | &nbsp;&nbsp;&nbsp;&nbsp; 61339 |
| &nbsp;&nbsp;&nbsp; Lightning Power LLC 7.25%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 649000 | &nbsp;&nbsp;&nbsp;&nbsp; 688703 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC  | &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC  | &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 663000 | &nbsp;&nbsp;&nbsp;&nbsp; 702872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/1/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 458000 | &nbsp;&nbsp;&nbsp;&nbsp; 466667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/1/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 664000 | &nbsp;&nbsp;&nbsp;&nbsp; 686500 |
| &nbsp;&nbsp;&nbsp; TransAlta Corp. (Canada) 6.50%, 3/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp; 318814 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7059564 |
| **Insurance — 2.4%** | **Insurance — 2.4%** | **Insurance — 2.4%** |
| &nbsp;&nbsp;&nbsp; Acrisure LLC  | &nbsp;&nbsp;&nbsp; Acrisure LLC  | &nbsp;&nbsp;&nbsp; Acrisure LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1020000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 252544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 414000 | &nbsp;&nbsp;&nbsp;&nbsp; 433904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 11/6/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 160950 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Insurance — continued** | **Insurance — continued** | **Insurance — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 97306 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC  | &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC  | &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 126000 | &nbsp;&nbsp;&nbsp;&nbsp; 124274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1058000 | &nbsp;&nbsp;&nbsp;&nbsp; 1077315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 778000 | &nbsp;&nbsp;&nbsp;&nbsp; 808334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp; 894982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 269000 | &nbsp;&nbsp;&nbsp;&nbsp; 278099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American National Group, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.18%), 7.00%, <br> 12/1/2055 (b) (i)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 219292 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc. 6.38%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 649000 | &nbsp;&nbsp;&nbsp;&nbsp; 666932 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. 7.50%, 7/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 169827 |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC 7.88%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 327730 |
| &nbsp;&nbsp;&nbsp; Ardonagh Finco Ltd. (United Kingdom) 7.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 801000 | &nbsp;&nbsp;&nbsp;&nbsp; 837452 |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finance Ltd. (United Kingdom) 8.88%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 474000 | &nbsp;&nbsp;&nbsp;&nbsp; 488715 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC 7.13%, 5/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 295858 |
| &nbsp;&nbsp;&nbsp; Broadstreet Partners Group LLC 5.88%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 239594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelis Insurance Holdings Ltd. (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + <br> 4.28%), 7.75%, 6/15/2055 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 254196 |
| &nbsp;&nbsp;&nbsp; Howden UK Refinance plc (United Kingdom) 7.25%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 666000 | &nbsp;&nbsp;&nbsp;&nbsp; 682844 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd.  | &nbsp;&nbsp;&nbsp; HUB International Ltd.  | &nbsp;&nbsp;&nbsp; HUB International Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 140999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1441000 | &nbsp;&nbsp;&nbsp;&nbsp; 1509858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/31/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 869000 | &nbsp;&nbsp;&nbsp;&nbsp; 904197 |
| &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 426000 | &nbsp;&nbsp;&nbsp;&nbsp; 445870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp; 131204 |
| &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.  | &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.  | &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.80%, 3/15/2037 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 104724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.32%), 4.13%, 12/15/2051 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 54000 | &nbsp;&nbsp;&nbsp;&nbsp; 52953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 2/1/2061 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 788000 | &nbsp;&nbsp;&nbsp;&nbsp; 508279 |
| &nbsp;&nbsp;&nbsp; Panther Escrow Issuer LLC 7.13%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1303000 | &nbsp;&nbsp;&nbsp;&nbsp; 1347324 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC  | &nbsp;&nbsp;&nbsp; Ryan Specialty LLC  | &nbsp;&nbsp;&nbsp; Ryan Specialty LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 56819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 648000 | &nbsp;&nbsp;&nbsp;&nbsp; 662415 |
| &nbsp;&nbsp;&nbsp; USI, Inc. 7.50%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp; 320042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilton RE Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.27%), 6.00%, 10/22/2030 (a) (b) (d) <br> (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 171429 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15752481 |
| **Interactive Media & Services — 0.2%** | **Interactive Media & Services — 0.2%** | **Interactive Media & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cars.com, Inc. 6.38%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 205521 |
| &nbsp;&nbsp;&nbsp; Snap, Inc.  | &nbsp;&nbsp;&nbsp; Snap, Inc.  | &nbsp;&nbsp;&nbsp; Snap, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 681000 | &nbsp;&nbsp;&nbsp;&nbsp; 701522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 209551 |
| &nbsp;&nbsp;&nbsp; Ziff Davis, Inc. 4.63%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 213391 |
| &nbsp;&nbsp;&nbsp; ZipRecruiter, Inc. 5.00%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 276000 | &nbsp;&nbsp;&nbsp;&nbsp; 223833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1553818 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **IT Services — 1.2%** | **IT Services — 1.2%** | **IT Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; Ahead DB Holdings LLC 6.63%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 242801 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc. 6.13%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 660674 |
| &nbsp;&nbsp;&nbsp; ASGN, Inc. 4.63%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 271000 | &nbsp;&nbsp;&nbsp;&nbsp; 265503 |
| &nbsp;&nbsp;&nbsp; Cablevision Lightpath LLC 5.63%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 359000 | &nbsp;&nbsp;&nbsp;&nbsp; 351926 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Group LLC  | &nbsp;&nbsp;&nbsp; Cogent Communications Group LLC  | &nbsp;&nbsp;&nbsp; Cogent Communications Group LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 491221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 118474 |
| &nbsp;&nbsp;&nbsp; Conduent Business Services LLC 6.00%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 282184 |
| &nbsp;&nbsp;&nbsp; CoreWeave, Inc.  | &nbsp;&nbsp;&nbsp; CoreWeave, Inc.  | &nbsp;&nbsp;&nbsp; CoreWeave, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1394000 | &nbsp;&nbsp;&nbsp;&nbsp; 1286112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 222000 | &nbsp;&nbsp;&nbsp;&nbsp; 200886 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3, Inc. 7.50%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 434068 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC 3.50%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp;&nbsp; 612484 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc.  | &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc.  | &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 5/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 794000 | &nbsp;&nbsp;&nbsp;&nbsp; 806898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 786000 | &nbsp;&nbsp;&nbsp;&nbsp; 785052 |
| &nbsp;&nbsp;&nbsp; Newfold Digital Holdings Group, Inc. 11.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 89142 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc. 3.88%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp; 416552 |
| &nbsp;&nbsp;&nbsp; Unisys Corp. 10.63%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 323229 |
| &nbsp;&nbsp;&nbsp; Virtusa Corp. 7.13%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 177000 | &nbsp;&nbsp;&nbsp;&nbsp; 170157 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7537363 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amer Sports Co. (Finland) 6.75%, 2/16/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 456847 |
| **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.  | &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.  | &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 232560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 393527 |
| &nbsp;&nbsp;&nbsp; Fortrea Holdings, Inc. 7.50%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 230875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 856962 |
| **Machinery — 1.1%** | **Machinery — 1.1%** | **Machinery — 1.1%** |
| &nbsp;&nbsp;&nbsp; Amsted Industries, Inc.  | &nbsp;&nbsp;&nbsp; Amsted Industries, Inc.  | &nbsp;&nbsp;&nbsp; Amsted Industries, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp; 131183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 263815 |
| &nbsp;&nbsp;&nbsp; ATS Corp. (Canada) 4.13%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 163038 |
| &nbsp;&nbsp;&nbsp; Calderys Financing LLC (France) 11.25%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 343346 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.  | &nbsp;&nbsp;&nbsp; Chart Industries, Inc.  | &nbsp;&nbsp;&nbsp; Chart Industries, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 521000 | &nbsp;&nbsp;&nbsp;&nbsp; 542850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 1/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 319000 | &nbsp;&nbsp;&nbsp;&nbsp; 340571 |
| &nbsp;&nbsp;&nbsp; Enpro, Inc. 6.13%, 6/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 192000 | &nbsp;&nbsp;&nbsp;&nbsp; 198336 |
| &nbsp;&nbsp;&nbsp; Esab Corp. 6.25%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 312149 |
| &nbsp;&nbsp;&nbsp; GrafTech Finance, Inc. 4.63%, 12/23/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 461000 | &nbsp;&nbsp;&nbsp;&nbsp; 339411 |
| &nbsp;&nbsp;&nbsp; GrafTech Global Enterprises, Inc. 9.88%, 12/23/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 144211 |
| &nbsp;&nbsp;&nbsp; Hillenbrand, Inc.  | &nbsp;&nbsp;&nbsp; Hillenbrand, Inc.  | &nbsp;&nbsp;&nbsp; Hillenbrand, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 277000 | &nbsp;&nbsp;&nbsp;&nbsp; 283639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 89038 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd. (Canada) 9.00%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 468000 | &nbsp;&nbsp;&nbsp;&nbsp; 492570 |
| &nbsp;&nbsp;&nbsp; Manitowoc Co., Inc. (The) 9.25%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp; 167877 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Machinery — continued** | **Machinery — continued** | **Machinery — continued** |
| &nbsp;&nbsp;&nbsp; Maxim Crane Works Holdings Capital LLC 11.50%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 299608 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc. 4.00%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 189395 |
| &nbsp;&nbsp;&nbsp; New Flyer Holdings, Inc. (Canada) 9.25%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 238837 |
| &nbsp;&nbsp;&nbsp; Park-Ohio Industries, Inc. 8.50%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 221455 |
| &nbsp;&nbsp;&nbsp; Roller Bearing Co. of America, Inc. 4.38%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 234000 | &nbsp;&nbsp;&nbsp;&nbsp; 230462 |
| &nbsp;&nbsp;&nbsp; SPX FLOW, Inc. 8.75%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 192000 | &nbsp;&nbsp;&nbsp;&nbsp; 197337 |
| &nbsp;&nbsp;&nbsp; Terex Corp.  | &nbsp;&nbsp;&nbsp; Terex Corp.  | &nbsp;&nbsp;&nbsp; Terex Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 573000 | &nbsp;&nbsp;&nbsp;&nbsp; 569265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 137830 |
| &nbsp;&nbsp;&nbsp; Titan International, Inc. 7.00%, 4/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 255119 |
| &nbsp;&nbsp;&nbsp; TK Elevator US Newco, Inc. (Germany) 5.25%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 586000 | &nbsp;&nbsp;&nbsp;&nbsp; 586982 |
| &nbsp;&nbsp;&nbsp; Trinity Industries, Inc. 7.75%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp;&nbsp; 268659 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. 4.50%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 207000 | &nbsp;&nbsp;&nbsp;&nbsp; 189476 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7196459 |
| **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp; Danaos Corp. (Greece) | &nbsp;&nbsp;&nbsp; Danaos Corp. (Greece) | &nbsp;&nbsp;&nbsp; Danaos Corp. (Greece) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 123000 | &nbsp;&nbsp;&nbsp;&nbsp; 124146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 285994 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 410140 |
| **Media — 6.6%** | **Media — 6.6%** | **Media — 6.6%** |
| &nbsp;&nbsp;&nbsp; Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp; 265268 |
| &nbsp;&nbsp;&nbsp; AMC Networks, Inc.  | &nbsp;&nbsp;&nbsp; AMC Networks, Inc.  | &nbsp;&nbsp;&nbsp; AMC Networks, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 394000 | &nbsp;&nbsp;&nbsp;&nbsp; 413343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 162435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 183000 | &nbsp;&nbsp;&nbsp;&nbsp; 196040 |
| &nbsp;&nbsp;&nbsp; Block Communications, Inc. 4.88%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 121679 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. 4.00%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 222725 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1088055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 976000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 179000 | &nbsp;&nbsp;&nbsp;&nbsp; 188141 |
| &nbsp;&nbsp;&nbsp; CMG Media Corp. 8.88%, 6/18/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 331000 | &nbsp;&nbsp;&nbsp;&nbsp; 271420 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC  | &nbsp;&nbsp;&nbsp; CSC Holdings LLC  | &nbsp;&nbsp;&nbsp; CSC Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 922000 | &nbsp;&nbsp;&nbsp;&nbsp; 795573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 943000 | &nbsp;&nbsp;&nbsp;&nbsp; 683506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 1/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 404000 | &nbsp;&nbsp;&nbsp;&nbsp; 284786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 909000 | &nbsp;&nbsp;&nbsp;&nbsp; 570894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1073000 | &nbsp;&nbsp;&nbsp;&nbsp; 396379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 599000 | &nbsp;&nbsp;&nbsp;&nbsp; 341643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp;&nbsp; 355353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 361000 | &nbsp;&nbsp;&nbsp;&nbsp; 200477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 771000 | &nbsp;&nbsp;&nbsp;&nbsp; 435912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 867000 | &nbsp;&nbsp;&nbsp;&nbsp; 299645 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC  | &nbsp;&nbsp;&nbsp; Directv Financing LLC  | &nbsp;&nbsp;&nbsp; Directv Financing LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1672000 | &nbsp;&nbsp;&nbsp;&nbsp; 1672493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 51000 | &nbsp;&nbsp;&nbsp;&nbsp; 50633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 905000 | &nbsp;&nbsp;&nbsp;&nbsp; 898963 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Media — continued** | **Media — continued** | **Media — continued** |
| &nbsp;&nbsp;&nbsp; Discovery Communications LLC  | &nbsp;&nbsp;&nbsp; Discovery Communications LLC  | &nbsp;&nbsp;&nbsp; Discovery Communications LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 3/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1059000 | &nbsp;&nbsp;&nbsp;&nbsp; 982223 |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp.  | &nbsp;&nbsp;&nbsp; DISH DBS Corp.  | &nbsp;&nbsp;&nbsp; DISH DBS Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 221000 | &nbsp;&nbsp;&nbsp;&nbsp; 216361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1541000 | &nbsp;&nbsp;&nbsp;&nbsp; 1505453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 749000 | &nbsp;&nbsp;&nbsp;&nbsp; 698218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1126000 | &nbsp;&nbsp;&nbsp;&nbsp; 1088099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 306385 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. 11.75%, 11/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1095000 | &nbsp;&nbsp;&nbsp;&nbsp; 1143410 |
| &nbsp;&nbsp;&nbsp; Dotdash Meredith, Inc. 7.63%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 172079 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp.  | &nbsp;&nbsp;&nbsp; EchoStar Corp.  | &nbsp;&nbsp;&nbsp; EchoStar Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2769000 | &nbsp;&nbsp;&nbsp;&nbsp; 3052822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75% (PIK), 11/30/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 775602 | &nbsp;&nbsp;&nbsp;&nbsp; 805348 |
| &nbsp;&nbsp;&nbsp; EW Scripps Co. (The) 9.88%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 49380 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc.  | &nbsp;&nbsp;&nbsp; Gray Media, Inc.  | &nbsp;&nbsp;&nbsp; Gray Media, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 754000 | &nbsp;&nbsp;&nbsp;&nbsp; 812592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 626000 | &nbsp;&nbsp;&nbsp;&nbsp; 483057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 918000 | &nbsp;&nbsp;&nbsp;&nbsp; 690386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 87058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 8/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 13022 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc.  | &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc.  | &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 444846 | &nbsp;&nbsp;&nbsp;&nbsp; 411625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 5/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 567291 | &nbsp;&nbsp;&nbsp;&nbsp; 466844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 119000 | &nbsp;&nbsp;&nbsp;&nbsp; 101592 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp.  | &nbsp;&nbsp;&nbsp; Lamar Media Corp.  | &nbsp;&nbsp;&nbsp; Lamar Media Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 593000 | &nbsp;&nbsp;&nbsp;&nbsp; 581263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 71854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 318000 | &nbsp;&nbsp;&nbsp;&nbsp; 307660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 113228 |
| &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC (Puerto Rico) | &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC (Puerto Rico) | &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC (Puerto Rico) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 646000 | &nbsp;&nbsp;&nbsp;&nbsp; 436858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 148050 |
| &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc.  | &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc.  | &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 604000 | &nbsp;&nbsp;&nbsp;&nbsp; 604496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 145794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp; 303818 |
| &nbsp;&nbsp;&nbsp; Midcontinent Communications 8.00%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 283417 |
| &nbsp;&nbsp;&nbsp; Neptune Bidco US, Inc. 9.29%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1201000 | &nbsp;&nbsp;&nbsp;&nbsp; 1195527 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc.  | &nbsp;&nbsp;&nbsp; Nexstar Media, Inc.  | &nbsp;&nbsp;&nbsp; Nexstar Media, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 446000 | &nbsp;&nbsp;&nbsp;&nbsp; 446347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 563000 | &nbsp;&nbsp;&nbsp;&nbsp; 558326 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC  | &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC  | &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 211686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 538000 | &nbsp;&nbsp;&nbsp;&nbsp; 522712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 287000 | &nbsp;&nbsp;&nbsp;&nbsp; 279217 |
| &nbsp;&nbsp;&nbsp; Paramount Global (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.00%), 6.38%, 3/30/2062 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 787000 | &nbsp;&nbsp;&nbsp;&nbsp; 771155 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Media — continued** | **Media — continued** | **Media — continued** |
| &nbsp;&nbsp;&nbsp; Radiate Holdco LLC  | &nbsp;&nbsp;&nbsp; Radiate Holdco LLC  | &nbsp;&nbsp;&nbsp; Radiate Holdco LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25% (Blend (Cash 4.75% + PIK 1.50%)), 9/25/2029 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 228070 | &nbsp;&nbsp;&nbsp;&nbsp; 169233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25% (Blend (Cash 6.00% + PIK 3.25%)), 3/25/2030 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 315864 | &nbsp;&nbsp;&nbsp;&nbsp; 159809 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc.  | &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc.  | &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 440180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp; 207550 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.  | &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.  | &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 2/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp; 770910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 2/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 236000 | &nbsp;&nbsp;&nbsp;&nbsp; 257240 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC  | &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC  | &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1269000 | &nbsp;&nbsp;&nbsp;&nbsp; 1269284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 673000 | &nbsp;&nbsp;&nbsp;&nbsp; 656063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 859000 | &nbsp;&nbsp;&nbsp;&nbsp; 863420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp;&nbsp; 605994 |
| &nbsp;&nbsp;&nbsp; Stagwell Global LLC 5.63%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 476000 | &nbsp;&nbsp;&nbsp;&nbsp; 462551 |
| &nbsp;&nbsp;&nbsp; Sunrise FinCo. I BV (Netherlands) 4.88%, 7/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 572000 | &nbsp;&nbsp;&nbsp;&nbsp; 546523 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc.  | &nbsp;&nbsp;&nbsp; TEGNA, Inc.  | &nbsp;&nbsp;&nbsp; TEGNA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 12843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 884000 | &nbsp;&nbsp;&nbsp;&nbsp; 875832 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc.  | &nbsp;&nbsp;&nbsp; Univision Communications, Inc.  | &nbsp;&nbsp;&nbsp; Univision Communications, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1249000 | &nbsp;&nbsp;&nbsp;&nbsp; 1288947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 6/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 584000 | &nbsp;&nbsp;&nbsp;&nbsp; 592430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 7/31/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 943000 | &nbsp;&nbsp;&nbsp;&nbsp; 975529 |
| &nbsp;&nbsp;&nbsp; Urban One, Inc. 7.38%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 151000 | &nbsp;&nbsp;&nbsp;&nbsp; 79071 |
| &nbsp;&nbsp;&nbsp; Versant Media Group, Inc. 7.25%, 1/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 128424 |
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV (Netherlands) 5.00%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 709000 | &nbsp;&nbsp;&nbsp;&nbsp; 644193 |
| &nbsp;&nbsp;&nbsp; Ziggo Bond Co. BV (Netherlands) 5.13%, 2/28/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 227000 | &nbsp;&nbsp;&nbsp;&nbsp; 203752 |
| &nbsp;&nbsp;&nbsp; Ziggo BV (Netherlands) 4.88%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 613000 | &nbsp;&nbsp;&nbsp;&nbsp; 580774 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 42811389 |
| **Metals & Mining — 2.2%** | **Metals & Mining — 2.2%** | **Metals & Mining — 2.2%** |
| &nbsp;&nbsp;&nbsp; Alcoa Nederland Holding BV 7.13%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 621000 | &nbsp;&nbsp;&nbsp;&nbsp; 658021 |
| &nbsp;&nbsp;&nbsp; Algoma Steel, Inc. (Canada) 9.13%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 134770 |
| &nbsp;&nbsp;&nbsp; Alumina Pty. Ltd. 6.13%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 339324 |
| &nbsp;&nbsp;&nbsp; Arsenal AIC Parent LLC  | &nbsp;&nbsp;&nbsp; Arsenal AIC Parent LLC  | &nbsp;&nbsp;&nbsp; Arsenal AIC Parent LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 366437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 209610 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC 6.63%, 1/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 309000 | &nbsp;&nbsp;&nbsp;&nbsp; 309672 |
| &nbsp;&nbsp;&nbsp; Century Aluminum Co. 6.88%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 175792 |
| &nbsp;&nbsp;&nbsp; Champion Iron Canada, Inc. (Canada) 7.88%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 296983 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.  | &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.  | &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 90539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 840000 | &nbsp;&nbsp;&nbsp;&nbsp; 858126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 442000 | &nbsp;&nbsp;&nbsp;&nbsp; 419389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 264598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 381000 | &nbsp;&nbsp;&nbsp;&nbsp; 390543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 5/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 677000 | &nbsp;&nbsp;&nbsp;&nbsp; 698251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 361000 | &nbsp;&nbsp;&nbsp;&nbsp; 374583 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Metals & Mining — continued** | **Metals & Mining — continued** | **Metals & Mining — continued** |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc. 5.13%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 100499 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co.  | &nbsp;&nbsp;&nbsp; Commercial Metals Co.  | &nbsp;&nbsp;&nbsp; Commercial Metals Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 83246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 292284 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc.  | &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc.  | &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 221000 | &nbsp;&nbsp;&nbsp;&nbsp; 220956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 64000 | &nbsp;&nbsp;&nbsp;&nbsp; 66628 |
| &nbsp;&nbsp;&nbsp; Constellium SE 5.63%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 322495 |
| &nbsp;&nbsp;&nbsp; Eldorado Gold Corp. (Turkey) 6.25%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 216075 |
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty. Ltd. (Australia) | &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty. Ltd. (Australia) | &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty. Ltd. (Australia) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 356000 | &nbsp;&nbsp;&nbsp;&nbsp; 354891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 529000 | &nbsp;&nbsp;&nbsp;&nbsp; 546420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 236000 | &nbsp;&nbsp;&nbsp;&nbsp; 227643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 140910 |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. 7.25%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 126000 | &nbsp;&nbsp;&nbsp;&nbsp; 126620 |
| &nbsp;&nbsp;&nbsp; Hudbay Minerals, Inc. (Canada) 6.13%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 186390 |
| &nbsp;&nbsp;&nbsp; IAMGOLD Corp. (Burkina Faso) 5.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 199876 |
| &nbsp;&nbsp;&nbsp; Infrabuild Australia Pty. Ltd. (Australia) 14.50%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 264528 |
| &nbsp;&nbsp;&nbsp; JW Aluminum Continuous Cast Co. 10.25%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 179537 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. 4.50%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 341000 | &nbsp;&nbsp;&nbsp;&nbsp; 326821 |
| &nbsp;&nbsp;&nbsp; Mineral Resources Ltd. (Australia) | &nbsp;&nbsp;&nbsp; Mineral Resources Ltd. (Australia) | &nbsp;&nbsp;&nbsp; Mineral Resources Ltd. (Australia) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 644000 | &nbsp;&nbsp;&nbsp;&nbsp; 658358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 296099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 99771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 400159 |
| &nbsp;&nbsp;&nbsp; New Gold, Inc. (Canada) 6.88%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 208452 |
| &nbsp;&nbsp;&nbsp; Novelis Corp.  | &nbsp;&nbsp;&nbsp; Novelis Corp.  | &nbsp;&nbsp;&nbsp; Novelis Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1473000 | &nbsp;&nbsp;&nbsp;&nbsp; 1416400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 269129 |
| &nbsp;&nbsp;&nbsp; Perenti Finance Pty. Ltd. (Australia) 7.50%, 4/26/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 249000 | &nbsp;&nbsp;&nbsp;&nbsp; 259346 |
| &nbsp;&nbsp;&nbsp; SunCoke Energy, Inc. 4.88%, 6/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 237000 | &nbsp;&nbsp;&nbsp;&nbsp; 216842 |
| &nbsp;&nbsp;&nbsp; Taseko Mines Ltd. (Canada) 8.25%, 5/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 241000 | &nbsp;&nbsp;&nbsp;&nbsp; 255570 |
| &nbsp;&nbsp;&nbsp; TMS International Corp. 6.25%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 157000 | &nbsp;&nbsp;&nbsp;&nbsp; 151113 |
| &nbsp;&nbsp;&nbsp; United States Steel Corp.  | &nbsp;&nbsp;&nbsp; United States Steel Corp.  | &nbsp;&nbsp;&nbsp; United States Steel Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 89743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 6/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 229000 | &nbsp;&nbsp;&nbsp;&nbsp; 243008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14006447 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.6%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.6%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.6%** |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. 4.63%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp; 216649 |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc.  | &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc.  | &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 297000 | &nbsp;&nbsp;&nbsp;&nbsp; 292792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 98000 | &nbsp;&nbsp;&nbsp;&nbsp; 102831 |
| &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP  | &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP  | &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 636000 | &nbsp;&nbsp;&nbsp;&nbsp; 629954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 305566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 7/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 134621 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Mortgage Real Estate Investment Trusts (REITs) — continued** | **Mortgage Real Estate Investment Trusts (REITs) — continued** | **Mortgage Real Estate Investment Trusts (REITs) — continued** |
| &nbsp;&nbsp;&nbsp; Rithm Capital Corp.  | &nbsp;&nbsp;&nbsp; Rithm Capital Corp.  | &nbsp;&nbsp;&nbsp; Rithm Capital Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 362684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 251758 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.  | &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.  | &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 631000 | &nbsp;&nbsp;&nbsp;&nbsp; 626143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 531000 | &nbsp;&nbsp;&nbsp;&nbsp; 527570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 98000 | &nbsp;&nbsp;&nbsp;&nbsp; 98670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 244997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 112000 | &nbsp;&nbsp;&nbsp;&nbsp; 116920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3911155 |
| **Multi-Utilities — 0.1%** | **Multi-Utilities — 0.1%** | **Multi-Utilities — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp. (Canada) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.25%), <br> 4.75%, 1/18/2082 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 477875 |
| **Office REITs — 0.3%** | **Office REITs — 0.3%** | **Office REITs — 0.3%** |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP  | &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP  | &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 385218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.30%, 3/15/2028 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 182000 | &nbsp;&nbsp;&nbsp;&nbsp; 191913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 64985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 110545 |
| &nbsp;&nbsp;&nbsp; Hudson Pacific Properties LP  | &nbsp;&nbsp;&nbsp; Hudson Pacific Properties LP  | &nbsp;&nbsp;&nbsp; Hudson Pacific Properties LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 121115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 421000 | &nbsp;&nbsp;&nbsp;&nbsp; 410814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 186861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 21054 |
| &nbsp;&nbsp;&nbsp; Office Properties Income Trust  | &nbsp;&nbsp;&nbsp; Office Properties Income Trust  | &nbsp;&nbsp;&nbsp; Office Properties Income Trust  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 3/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 376000 | &nbsp;&nbsp;&nbsp;&nbsp; 385171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 9/30/2029 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 88000 | &nbsp;&nbsp;&nbsp;&nbsp; 78320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1955996 |
| **Oil, Gas & Consumable Fuels — 9.0%** | **Oil, Gas & Consumable Fuels — 9.0%** | **Oil, Gas & Consumable Fuels — 9.0%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP 7.50%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 449000 | &nbsp;&nbsp;&nbsp;&nbsp; 469170 |
| &nbsp;&nbsp;&nbsp; Alliance Resource Operating Partners LP 8.63%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 172000 | &nbsp;&nbsp;&nbsp;&nbsp; 181423 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP  | &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP  | &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 796000 | &nbsp;&nbsp;&nbsp;&nbsp; 796944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 213000 | &nbsp;&nbsp;&nbsp;&nbsp; 213702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 143000 | &nbsp;&nbsp;&nbsp;&nbsp; 143707 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC  | &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC  | &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp; 294912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 541000 | &nbsp;&nbsp;&nbsp;&nbsp; 553367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 34000 | &nbsp;&nbsp;&nbsp;&nbsp; 34653 |
| &nbsp;&nbsp;&nbsp; Baytex Energy Corp. (Canada) 8.50%, 4/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 606471 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC  | &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC  | &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp;&nbsp; 108467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 64000 | &nbsp;&nbsp;&nbsp;&nbsp; 68051 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP  | &nbsp;&nbsp;&nbsp; Buckeye Partners LP  | &nbsp;&nbsp;&nbsp; Buckeye Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 178000 | &nbsp;&nbsp;&nbsp;&nbsp; 176872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 511000 | &nbsp;&nbsp;&nbsp;&nbsp; 505413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 261000 | &nbsp;&nbsp;&nbsp;&nbsp; 259614 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 126000 | &nbsp;&nbsp;&nbsp;&nbsp; 131249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 356000 | &nbsp;&nbsp;&nbsp;&nbsp; 336878 |
| &nbsp;&nbsp;&nbsp; California Resources Corp.  | &nbsp;&nbsp;&nbsp; California Resources Corp.  | &nbsp;&nbsp;&nbsp; California Resources Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 433000 | &nbsp;&nbsp;&nbsp;&nbsp; 453037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 180545 |
| &nbsp;&nbsp;&nbsp; Calumet Specialty Products Partners LP  | &nbsp;&nbsp;&nbsp; Calumet Specialty Products Partners LP  | &nbsp;&nbsp;&nbsp; Calumet Specialty Products Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 1/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 118000 | &nbsp;&nbsp;&nbsp;&nbsp; 117637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 234000 | &nbsp;&nbsp;&nbsp;&nbsp; 233761 |
| &nbsp;&nbsp;&nbsp; Caturus Energy LLC 8.50%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 245576 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. 6.75%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 392256 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc.  | &nbsp;&nbsp;&nbsp; Civitas Resources, Inc.  | &nbsp;&nbsp;&nbsp; Civitas Resources, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 254510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 211425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 11/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 150849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 7/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1132000 | &nbsp;&nbsp;&nbsp;&nbsp; 1178800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 214616 |
| &nbsp;&nbsp;&nbsp; CNX Midstream Partners LP 4.75%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 163000 | &nbsp;&nbsp;&nbsp;&nbsp; 156338 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp.  | &nbsp;&nbsp;&nbsp; CNX Resources Corp.  | &nbsp;&nbsp;&nbsp; CNX Resources Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 336000 | &nbsp;&nbsp;&nbsp;&nbsp; 337261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 360220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 3/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 63000 | &nbsp;&nbsp;&nbsp;&nbsp; 65699 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc.  | &nbsp;&nbsp;&nbsp; Comstock Resources, Inc.  | &nbsp;&nbsp;&nbsp; Comstock Resources, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 366000 | &nbsp;&nbsp;&nbsp;&nbsp; 363984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 863000 | &nbsp;&nbsp;&nbsp;&nbsp; 838490 |
| &nbsp;&nbsp;&nbsp; Coronado Finance Pty. Ltd. (Australia) 9.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 194000 | &nbsp;&nbsp;&nbsp;&nbsp; 179415 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP 5.50%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 903000 | &nbsp;&nbsp;&nbsp;&nbsp; 895634 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC  | &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC  | &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 4/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 225889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1056000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 123275 |
| &nbsp;&nbsp;&nbsp; CVR Energy, Inc.  | &nbsp;&nbsp;&nbsp; CVR Energy, Inc.  | &nbsp;&nbsp;&nbsp; CVR Energy, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 269000 | &nbsp;&nbsp;&nbsp;&nbsp; 265151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp; 220093 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP  | &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP  | &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 186054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 791000 | &nbsp;&nbsp;&nbsp;&nbsp; 829091 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP  | &nbsp;&nbsp;&nbsp; Energy Transfer LP  | &nbsp;&nbsp;&nbsp; Energy Transfer LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.02%), 8.00%, 5/15/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 528000 | &nbsp;&nbsp;&nbsp;&nbsp; 562996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.83%), 7.13%, 10/1/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 752000 | &nbsp;&nbsp;&nbsp;&nbsp; 765171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.48%), 6.75%, 2/15/2056 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 110451 |
| &nbsp;&nbsp;&nbsp; EnQuest plc (United Kingdom) 11.63%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 273217 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy LP 8.00%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 442140 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP  | &nbsp;&nbsp;&nbsp; Genesis Energy LP  | &nbsp;&nbsp;&nbsp; Genesis Energy LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 111745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 119000 | &nbsp;&nbsp;&nbsp;&nbsp; 124292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 496524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 509000 | &nbsp;&nbsp;&nbsp;&nbsp; 525050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 120704 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Global Partners LP  | &nbsp;&nbsp;&nbsp; Global Partners LP  | &nbsp;&nbsp;&nbsp; Global Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 57000 | &nbsp;&nbsp;&nbsp;&nbsp; 57690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 550471 |
| &nbsp;&nbsp;&nbsp; Golar LNG Ltd. (Cameroon) 7.50%, 10/2/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194438 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Operating Corp. 6.75%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 298333 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP  | &nbsp;&nbsp;&nbsp; Harvest Midstream I LP  | &nbsp;&nbsp;&nbsp; Harvest Midstream I LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 551000 | &nbsp;&nbsp;&nbsp;&nbsp; 558806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20783 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP  | &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP  | &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 46774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 817000 | &nbsp;&nbsp;&nbsp;&nbsp; 817159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp; 324921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 154595 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP  | &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP  | &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 514000 | &nbsp;&nbsp;&nbsp;&nbsp; 516390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 125732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1108000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 11/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 46136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 89954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/15/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 294891 |
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC  | &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC  | &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 361000 | &nbsp;&nbsp;&nbsp;&nbsp; 381031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 299000 | &nbsp;&nbsp;&nbsp;&nbsp; 306520 |
| &nbsp;&nbsp;&nbsp; Ithaca Energy North Sea plc (United Kingdom) 8.13%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 361000 | &nbsp;&nbsp;&nbsp;&nbsp; 377879 |
| &nbsp;&nbsp;&nbsp; ITT Holdings LLC 6.50%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 547639 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP  | &nbsp;&nbsp;&nbsp; Kinetik Holdings LP  | &nbsp;&nbsp;&nbsp; Kinetik Holdings LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 706000 | &nbsp;&nbsp;&nbsp;&nbsp; 726286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 220746 |
| &nbsp;&nbsp;&nbsp; Kraken Oil & Gas Partners LLC 7.63%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 244508 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC 6.88%, 12/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 344000 | &nbsp;&nbsp;&nbsp;&nbsp; 353544 |
| &nbsp;&nbsp;&nbsp; Martin Midstream Partners LP 11.50%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 178190 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co.  | &nbsp;&nbsp;&nbsp; Matador Resources Co.  | &nbsp;&nbsp;&nbsp; Matador Resources Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 667000 | &nbsp;&nbsp;&nbsp;&nbsp; 683193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 182803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 167000 | &nbsp;&nbsp;&nbsp;&nbsp; 166775 |
| &nbsp;&nbsp;&nbsp; MEG Energy Corp. (Canada) 5.88%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 292000 | &nbsp;&nbsp;&nbsp;&nbsp; 296289 |
| &nbsp;&nbsp;&nbsp; Moss Creek Resources Holdings, Inc. 8.25%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 403000 | &nbsp;&nbsp;&nbsp;&nbsp; 386504 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp.  | &nbsp;&nbsp;&nbsp; Murphy Oil Corp.  | &nbsp;&nbsp;&nbsp; Murphy Oil Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 295473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 12/1/2042 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 103000 | &nbsp;&nbsp;&nbsp;&nbsp; 89538 |
| &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.  | &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.  | &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 9/30/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 81000 | &nbsp;&nbsp;&nbsp;&nbsp; 13568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 13770 |
| &nbsp;&nbsp;&nbsp; NFE Financing LLC 12.00%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 918743 | &nbsp;&nbsp;&nbsp;&nbsp; 232809 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC  | &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC  | &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 294214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 723000 | &nbsp;&nbsp;&nbsp;&nbsp; 749542 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. 7.88%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 574000 | &nbsp;&nbsp;&nbsp;&nbsp; 558617 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance LP (Canada) 6.75%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 353000 | &nbsp;&nbsp;&nbsp;&nbsp; 359577 |
| &nbsp;&nbsp;&nbsp; NuStar Logistics LP 6.00%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 498000 | &nbsp;&nbsp;&nbsp;&nbsp; 499321 |
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC  | &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC  | &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp; 199821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 183000 | &nbsp;&nbsp;&nbsp;&nbsp; 192368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 9/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 710000 | &nbsp;&nbsp;&nbsp;&nbsp; 699290 |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC  | &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC  | &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 163000 | &nbsp;&nbsp;&nbsp;&nbsp; 165085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 441000 | &nbsp;&nbsp;&nbsp;&nbsp; 442423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 7/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 211187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 841000 | &nbsp;&nbsp;&nbsp;&nbsp; 875755 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP 9.00%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 247044 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp.  | &nbsp;&nbsp;&nbsp; Range Resources Corp.  | &nbsp;&nbsp;&nbsp; Range Resources Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp; 432468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 91761 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC  | &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC  | &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 87000 | &nbsp;&nbsp;&nbsp;&nbsp; 87029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 212675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 637000 | &nbsp;&nbsp;&nbsp;&nbsp; 662223 |
| &nbsp;&nbsp;&nbsp; Saturn Oil & Gas, Inc. (Canada) 9.63%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 301000 | &nbsp;&nbsp;&nbsp;&nbsp; 306119 |
| &nbsp;&nbsp;&nbsp; SM Energy Co.  | &nbsp;&nbsp;&nbsp; SM Energy Co.  | &nbsp;&nbsp;&nbsp; SM Energy Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 233269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 778823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 86000 | &nbsp;&nbsp;&nbsp;&nbsp; 84142 |
| &nbsp;&nbsp;&nbsp; South Bow Canadian Infrastructure Holdings Ltd. (Canada) | &nbsp;&nbsp;&nbsp; South Bow Canadian Infrastructure Holdings Ltd. (Canada) | &nbsp;&nbsp;&nbsp; South Bow Canadian Infrastructure Holdings Ltd. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.67%), 7.50%, 3/1/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 276000 | &nbsp;&nbsp;&nbsp;&nbsp; 292731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.95%), 7.63%, 3/1/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 219682 |
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC 8.63%, 10/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 354000 | &nbsp;&nbsp;&nbsp;&nbsp; 365288 |
| &nbsp;&nbsp;&nbsp; Sunoco LP  | &nbsp;&nbsp;&nbsp; Sunoco LP  | &nbsp;&nbsp;&nbsp; Sunoco LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 461000 | &nbsp;&nbsp;&nbsp;&nbsp; 461725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 146000 | &nbsp;&nbsp;&nbsp;&nbsp; 146464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 278000 | &nbsp;&nbsp;&nbsp;&nbsp; 286697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 174000 | &nbsp;&nbsp;&nbsp;&nbsp; 181122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 795000 | &nbsp;&nbsp;&nbsp;&nbsp; 779167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp; 315683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 406000 | &nbsp;&nbsp;&nbsp;&nbsp; 395310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 826000 | &nbsp;&nbsp;&nbsp;&nbsp; 805216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 59794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 7/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 261000 | &nbsp;&nbsp;&nbsp;&nbsp; 268079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 803000 | &nbsp;&nbsp;&nbsp;&nbsp; 808173 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP  | &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP  | &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 285837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 158755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 361000 | &nbsp;&nbsp;&nbsp;&nbsp; 359797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 192727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 612000 | &nbsp;&nbsp;&nbsp;&nbsp; 612723 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Talos Production, Inc.  | &nbsp;&nbsp;&nbsp; Talos Production, Inc.  | &nbsp;&nbsp;&nbsp; Talos Production, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 440131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 119074 |
| &nbsp;&nbsp;&nbsp; Teine Energy Ltd. (Canada) 6.88%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 241970 |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC  | &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC  | &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/31/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 412000 | &nbsp;&nbsp;&nbsp;&nbsp; 411279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 182657 |
| &nbsp;&nbsp;&nbsp; TGNR Intermediate Holdings LLC 5.50%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 338000 | &nbsp;&nbsp;&nbsp;&nbsp; 331039 |
| &nbsp;&nbsp;&nbsp; Topaz Solar Farms LLC 5.75%, 9/30/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 66602 | &nbsp;&nbsp;&nbsp;&nbsp; 66868 |
| &nbsp;&nbsp;&nbsp; TransMontaigne Partners LLC 8.50%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 258683 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC  | &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC  | &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 868000 | &nbsp;&nbsp;&nbsp;&nbsp; 816131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 514976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 582000 | &nbsp;&nbsp;&nbsp;&nbsp; 533208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 135706 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.  | &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.  | &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 373860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2403000 | &nbsp;&nbsp;&nbsp;&nbsp; 2534361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 583000 | &nbsp;&nbsp;&nbsp;&nbsp; 571920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1216000 | &nbsp;&nbsp;&nbsp;&nbsp; 1219004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 292558 |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC  | &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC  | &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 5/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 886000 | &nbsp;&nbsp;&nbsp;&nbsp; 965453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 5/1/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 644000 | &nbsp;&nbsp;&nbsp;&nbsp; 717473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1404000 | &nbsp;&nbsp;&nbsp;&nbsp; 1471592 |
| &nbsp;&nbsp;&nbsp; Vermilion Energy, Inc. (Canada) 7.25%, 2/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 344000 | &nbsp;&nbsp;&nbsp;&nbsp; 325963 |
| &nbsp;&nbsp;&nbsp; Vital Energy, Inc.  | &nbsp;&nbsp;&nbsp; Vital Energy, Inc.  | &nbsp;&nbsp;&nbsp; Vital Energy, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 7/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 506000 | &nbsp;&nbsp;&nbsp;&nbsp; 499075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 165161 |
| &nbsp;&nbsp;&nbsp; W&T Offshore, Inc. 10.75%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp; 291205 |
| &nbsp;&nbsp;&nbsp; Wildfire Intermediate Holdings LLC 7.50%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 186000 | &nbsp;&nbsp;&nbsp;&nbsp; 187760 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 57990144 |
| **Paper & Forest Products — 0.2%** | **Paper & Forest Products — 0.2%** | **Paper & Forest Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Clearwater Paper Corp. 4.75%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 119000 | &nbsp;&nbsp;&nbsp;&nbsp; 110782 |
| &nbsp;&nbsp;&nbsp; Domtar Corp. 6.75%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp; 251156 |
| &nbsp;&nbsp;&nbsp; Magnera Corp.  | &nbsp;&nbsp;&nbsp; Magnera Corp.  | &nbsp;&nbsp;&nbsp; Magnera Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 43000 | &nbsp;&nbsp;&nbsp;&nbsp; 38894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 561000 | &nbsp;&nbsp;&nbsp;&nbsp; 535419 |
| &nbsp;&nbsp;&nbsp; Mercer International, Inc. (Germany) | &nbsp;&nbsp;&nbsp; Mercer International, Inc. (Germany) | &nbsp;&nbsp;&nbsp; Mercer International, Inc. (Germany) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.88%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 9373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 629000 | &nbsp;&nbsp;&nbsp;&nbsp; 373255 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1318879 |
| **Passenger Airlines — 0.7%** | **Passenger Airlines — 0.7%** | **Passenger Airlines — 0.7%** |
| &nbsp;&nbsp;&nbsp; Allegiant Travel Co. 7.25%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 257201 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc.  | &nbsp;&nbsp;&nbsp; American Airlines, Inc.  | &nbsp;&nbsp;&nbsp; American Airlines, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 926000 | &nbsp;&nbsp;&nbsp;&nbsp; 947961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/20/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 243009 | &nbsp;&nbsp;&nbsp;&nbsp; 245869 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Passenger Airlines — continued** | **Passenger Airlines — continued** | **Passenger Airlines — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 951000 | &nbsp;&nbsp;&nbsp;&nbsp; 993456 |
| &nbsp;&nbsp;&nbsp; CHC Group LLC 11.75%, 9/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 131000 | &nbsp;&nbsp;&nbsp;&nbsp; 125592 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp. 9.88%, 9/20/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 856000 | &nbsp;&nbsp;&nbsp;&nbsp; 845514 |
| &nbsp;&nbsp;&nbsp; OneSky Flight LLC 8.88%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 320663 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance plc (Switzerland) | &nbsp;&nbsp;&nbsp; VistaJet Malta Finance plc (Switzerland) | &nbsp;&nbsp;&nbsp; VistaJet Malta Finance plc (Switzerland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp; 166740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 808000 | &nbsp;&nbsp;&nbsp;&nbsp; 778050 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4681046 |
| **Personal Care Products — 0.4%** | **Personal Care Products — 0.4%** | **Personal Care Products — 0.4%** |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. 7.00%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 363000 | &nbsp;&nbsp;&nbsp;&nbsp; 374430 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co.  | &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co.  | &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 137000 | &nbsp;&nbsp;&nbsp;&nbsp; 136713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 392018 |
| &nbsp;&nbsp;&nbsp; Opal Bidco SAS (France) 6.50%, 3/31/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 471000 | &nbsp;&nbsp;&nbsp;&nbsp; 485514 |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co.  | &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co.  | &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 6/15/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 441542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 124965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 251000 | &nbsp;&nbsp;&nbsp;&nbsp; 200529 |
| &nbsp;&nbsp;&nbsp; Prestige Brands, Inc.  | &nbsp;&nbsp;&nbsp; Prestige Brands, Inc.  | &nbsp;&nbsp;&nbsp; Prestige Brands, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 25977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 4/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 418000 | &nbsp;&nbsp;&nbsp;&nbsp; 389506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2571194 |
| **Pharmaceuticals — 1.4%** | **Pharmaceuticals — 1.4%** | **Pharmaceuticals — 1.4%** |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd. 10.00%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1528000 | &nbsp;&nbsp;&nbsp;&nbsp; 1579669 |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC 6.88%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 328000 | &nbsp;&nbsp;&nbsp;&nbsp; 346459 |
| &nbsp;&nbsp;&nbsp; Bausch Health Americas, Inc. 8.50%, 1/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 743000 | &nbsp;&nbsp;&nbsp;&nbsp; 739834 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc.  | &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc.  | &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 534000 | &nbsp;&nbsp;&nbsp;&nbsp; 481267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 461000 | &nbsp;&nbsp;&nbsp;&nbsp; 417203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 9/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 398000 | &nbsp;&nbsp;&nbsp;&nbsp; 416017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 443000 | &nbsp;&nbsp;&nbsp;&nbsp; 325605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.00%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 628000 | &nbsp;&nbsp;&nbsp;&nbsp; 632711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 503000 | &nbsp;&nbsp;&nbsp;&nbsp; 339525 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc. 6.65%, 8/28/2028 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp; 332258 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings, Inc. 8.50%, 4/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 477000 | &nbsp;&nbsp;&nbsp;&nbsp; 496212 |
| &nbsp;&nbsp;&nbsp; Harrow, Inc. 8.63%, 9/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 112000 | &nbsp;&nbsp;&nbsp;&nbsp; 117495 |
| &nbsp;&nbsp;&nbsp; HLF Financing Sarl LLC 12.25%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 441750 |
| &nbsp;&nbsp;&nbsp; HLF Financing SARL LLC 4.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 273000 | &nbsp;&nbsp;&nbsp;&nbsp; 255168 |
| &nbsp;&nbsp;&nbsp; Jazz Securities DAC 4.38%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 513000 | &nbsp;&nbsp;&nbsp;&nbsp; 506431 |
| &nbsp;&nbsp;&nbsp; Organon & Co.  | &nbsp;&nbsp;&nbsp; Organon & Co.  | &nbsp;&nbsp;&nbsp; Organon & Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 926000 | &nbsp;&nbsp;&nbsp;&nbsp; 902448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 514000 | &nbsp;&nbsp;&nbsp;&nbsp; 462547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 581000 | &nbsp;&nbsp;&nbsp;&nbsp; 488583 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9281182 |
| **Professional Services — 0.4%** | **Professional Services — 0.4%** | **Professional Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc. 7.25%, 8/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 478000 | &nbsp;&nbsp;&nbsp;&nbsp; 501736 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Professional Services — continued** | **Professional Services — continued** | **Professional Services — continued** |
| &nbsp;&nbsp;&nbsp; AMN Healthcare, Inc. 4.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 176225 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. 6.38%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 427427 |
| &nbsp;&nbsp;&nbsp; CoreLogic, Inc. 4.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 317297 |
| &nbsp;&nbsp;&nbsp; KBR, Inc. 4.75%, 9/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp; 106955 |
| &nbsp;&nbsp;&nbsp; Korn Ferry 4.63%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 172994 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. 4.88%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 287048 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc.  | &nbsp;&nbsp;&nbsp; TriNet Group, Inc.  | &nbsp;&nbsp;&nbsp; TriNet Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 174565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 8/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 208011 |
| &nbsp;&nbsp;&nbsp; VT Topco, Inc. 8.50%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 225982 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2598240 |
| **Real Estate Management & Development — 0.7%** | **Real Estate Management & Development — 0.7%** | **Real Estate Management & Development — 0.7%** |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC  | &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC  | &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 94000 | &nbsp;&nbsp;&nbsp;&nbsp; 90402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 368145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 517000 | &nbsp;&nbsp;&nbsp;&nbsp; 519189 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC  | &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC  | &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 323496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 145815 |
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP 8.00%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 26101 |
| &nbsp;&nbsp;&nbsp; Forestar Group, Inc.  | &nbsp;&nbsp;&nbsp; Forestar Group, Inc.  | &nbsp;&nbsp;&nbsp; Forestar Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 158455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 221000 | &nbsp;&nbsp;&nbsp;&nbsp; 227469 |
| &nbsp;&nbsp;&nbsp; Greystar Real Estate Partners LLC 7.75%, 9/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 206971 |
| &nbsp;&nbsp;&nbsp; Howard Hughes Corp. (The)  | &nbsp;&nbsp;&nbsp; Howard Hughes Corp. (The)  | &nbsp;&nbsp;&nbsp; Howard Hughes Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 622000 | &nbsp;&nbsp;&nbsp;&nbsp; 623179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 231042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 69742 |
| &nbsp;&nbsp;&nbsp; Hunt Cos., Inc. 5.25%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 268592 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc.  | &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc.  | &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 583000 | &nbsp;&nbsp;&nbsp;&nbsp; 563294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 96677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 209160 |
| &nbsp;&nbsp;&nbsp; Newmark Group, Inc. 7.50%, 1/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 206000 | &nbsp;&nbsp;&nbsp;&nbsp; 219875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4347604 |
| **Retail REITs — 0.1%** | **Retail REITs — 0.1%** | **Retail REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc. 4.50%, 4/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 399000 | &nbsp;&nbsp;&nbsp;&nbsp; 392106 |
| **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. 5.88%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76351 |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG (Austria) 12.25%, 3/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp; 346604 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.  | &nbsp;&nbsp;&nbsp; Entegris, Inc.  | &nbsp;&nbsp;&nbsp; Entegris, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 352000 | &nbsp;&nbsp;&nbsp;&nbsp; 348581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1085000 | &nbsp;&nbsp;&nbsp;&nbsp; 1082879 |
| &nbsp;&nbsp;&nbsp; Kioxia Holdings Corp. (Japan) 6.63%, 7/24/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 893000 | &nbsp;&nbsp;&nbsp;&nbsp; 928768 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 295375 |
| &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc.  | &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc.  | &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp;&nbsp; 22579 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Semiconductors & Semiconductor Equipment — continued** | **Semiconductors & Semiconductor Equipment — continued** | **Semiconductors & Semiconductor Equipment — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 8/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 751000 | &nbsp;&nbsp;&nbsp;&nbsp; 778285 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. 4.00%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 166204 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4045626 |
| **Software — 2.7%** | **Software — 2.7%** | **Software — 2.7%** |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc. 6.50%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1046000 | &nbsp;&nbsp;&nbsp;&nbsp; 1038832 |
| &nbsp;&nbsp;&nbsp; Capstone Borrower, Inc. 8.00%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 428000 | &nbsp;&nbsp;&nbsp;&nbsp; 436351 |
| &nbsp;&nbsp;&nbsp; Central Parent, Inc. 7.25%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 924000 | &nbsp;&nbsp;&nbsp;&nbsp; 764056 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.  | &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.  | &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 3/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2337000 | &nbsp;&nbsp;&nbsp;&nbsp; 2355770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 9/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 795000 | &nbsp;&nbsp;&nbsp;&nbsp; 820069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 6/30/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1211000 | &nbsp;&nbsp;&nbsp;&nbsp; 1275665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 8/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 456191 |
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc. 6.50%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 151000 | &nbsp;&nbsp;&nbsp;&nbsp; 151551 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. 3.00%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 308431 |
| &nbsp;&nbsp;&nbsp; Dye & Durham Ltd. (Canada) 8.63%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 288902 |
| &nbsp;&nbsp;&nbsp; Elastic NV 4.13%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 310539 |
| &nbsp;&nbsp;&nbsp; Ellucian Holdings, Inc. 6.50%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 307137 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp. 4.00%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1064000 | &nbsp;&nbsp;&nbsp;&nbsp; 1048802 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc.  | &nbsp;&nbsp;&nbsp; Gen Digital, Inc.  | &nbsp;&nbsp;&nbsp; Gen Digital, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 819000 | &nbsp;&nbsp;&nbsp;&nbsp; 835126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 271000 | &nbsp;&nbsp;&nbsp;&nbsp; 278867 |
| &nbsp;&nbsp;&nbsp; GoTo Group, Inc. 5.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 474000 | &nbsp;&nbsp;&nbsp;&nbsp; 169455 |
| &nbsp;&nbsp;&nbsp; McAfee Corp. 7.38%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 909000 | &nbsp;&nbsp;&nbsp;&nbsp; 793158 |
| &nbsp;&nbsp;&nbsp; NCR Voyix Corp.  | &nbsp;&nbsp;&nbsp; NCR Voyix Corp.  | &nbsp;&nbsp;&nbsp; NCR Voyix Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 343000 | &nbsp;&nbsp;&nbsp;&nbsp; 340480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 148000 | &nbsp;&nbsp;&nbsp;&nbsp; 146619 |
| &nbsp;&nbsp;&nbsp; Open Text Corp. (Canada) | &nbsp;&nbsp;&nbsp; Open Text Corp. (Canada) | &nbsp;&nbsp;&nbsp; Open Text Corp. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 908000 | &nbsp;&nbsp;&nbsp;&nbsp; 885558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 240875 |
| &nbsp;&nbsp;&nbsp; Open Text Holdings, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Open Text Holdings, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Open Text Holdings, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 163000 | &nbsp;&nbsp;&nbsp;&nbsp; 155400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 184988 |
| &nbsp;&nbsp;&nbsp; Pagaya US Holdings Co. LLC 8.88%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 209864 |
| &nbsp;&nbsp;&nbsp; PTC, Inc. 4.00%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 212224 |
| &nbsp;&nbsp;&nbsp; Rackspace Finance LLC 3.50%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 137000 | &nbsp;&nbsp;&nbsp;&nbsp; 55394 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc. 8.50%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 167000 | &nbsp;&nbsp;&nbsp;&nbsp; 177700 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc.  | &nbsp;&nbsp;&nbsp; Rocket Software, Inc.  | &nbsp;&nbsp;&nbsp; Rocket Software, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 11/28/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 49454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 573000 | &nbsp;&nbsp;&nbsp;&nbsp; 557937 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc.  | &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc.  | &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 272000 | &nbsp;&nbsp;&nbsp;&nbsp; 271956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 922000 | &nbsp;&nbsp;&nbsp;&nbsp; 959517 |
| &nbsp;&nbsp;&nbsp; UKG, Inc. 6.88%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1191000 | &nbsp;&nbsp;&nbsp;&nbsp; 1229534 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC 3.88%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 280229 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17596631 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Specialized REITs — 0.9%** | **Specialized REITs — 0.9%** | **Specialized REITs — 0.9%** |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.  | &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.  | &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 503327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 309000 | &nbsp;&nbsp;&nbsp;&nbsp; 305290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1205000 | &nbsp;&nbsp;&nbsp;&nbsp; 1194498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 783000 | &nbsp;&nbsp;&nbsp;&nbsp; 748898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 567000 | &nbsp;&nbsp;&nbsp;&nbsp; 563773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 426000 | &nbsp;&nbsp;&nbsp;&nbsp; 435578 |
| &nbsp;&nbsp;&nbsp; Millrose Properties, Inc.  | &nbsp;&nbsp;&nbsp; Millrose Properties, Inc.  | &nbsp;&nbsp;&nbsp; Millrose Properties, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 377447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 9/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 497000 | &nbsp;&nbsp;&nbsp;&nbsp; 502614 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp.  | &nbsp;&nbsp;&nbsp; SBA Communications Corp.  | &nbsp;&nbsp;&nbsp; SBA Communications Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 1256915 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5928149 |
| **Specialty Retail — 2.9%** | **Specialty Retail — 2.9%** | **Specialty Retail — 2.9%** |
| &nbsp;&nbsp;&nbsp; Academy Ltd. 6.00%, 11/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 178000 | &nbsp;&nbsp;&nbsp;&nbsp; 178132 |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc.  | &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc.  | &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 658000 | &nbsp;&nbsp;&nbsp;&nbsp; 621292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 3/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 330125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 151626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 115333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 8/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 244498 |
| &nbsp;&nbsp;&nbsp; Arko Corp. 5.13%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 301000 | &nbsp;&nbsp;&nbsp;&nbsp; 250924 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.  | &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.  | &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 811000 | &nbsp;&nbsp;&nbsp;&nbsp; 795507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 189790 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc.  | &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc.  | &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.69%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 92684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 398000 | &nbsp;&nbsp;&nbsp;&nbsp; 404890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 123000 | &nbsp;&nbsp;&nbsp;&nbsp; 123121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 967000 | &nbsp;&nbsp;&nbsp;&nbsp; 956633 |
| &nbsp;&nbsp;&nbsp; Carvana Co.  | &nbsp;&nbsp;&nbsp; Carvana Co.  | &nbsp;&nbsp;&nbsp; Carvana Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00% (Cash), 6/1/2030 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 433800 | &nbsp;&nbsp;&nbsp;&nbsp; 454866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00% (Cash), 6/1/2031 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1354556 | &nbsp;&nbsp;&nbsp;&nbsp; 1523429 |
| &nbsp;&nbsp;&nbsp; Cougar JV Subsidiary LLC 8.00%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp; 344974 |
| &nbsp;&nbsp;&nbsp; EG Global Finance plc (United Kingdom) 12.00%, 11/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 550133 |
| &nbsp;&nbsp;&nbsp; Escrow Rite Aid 0.00%, 12/31/2049 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp; 27437 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Gap, Inc. (The)  | &nbsp;&nbsp;&nbsp; Gap, Inc. (The)  | &nbsp;&nbsp;&nbsp; Gap, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 332000 | &nbsp;&nbsp;&nbsp;&nbsp; 314928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 316000 | &nbsp;&nbsp;&nbsp;&nbsp; 293093 |
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd. (United Kingdom) | &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd. (United Kingdom) | &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd. (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 291000 | &nbsp;&nbsp;&nbsp;&nbsp; 298765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 1/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 444000 | &nbsp;&nbsp;&nbsp;&nbsp; 419752 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. 4.00%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 556000 | &nbsp;&nbsp;&nbsp;&nbsp; 544650 |
| &nbsp;&nbsp;&nbsp; Ken Garff Automotive LLC 4.88%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 172073 |
| &nbsp;&nbsp;&nbsp; LBM Acquisition LLC  | &nbsp;&nbsp;&nbsp; LBM Acquisition LLC  | &nbsp;&nbsp;&nbsp; LBM Acquisition LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 586000 | &nbsp;&nbsp;&nbsp;&nbsp; 524188 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Specialty Retail — continued** | **Specialty Retail — continued** | **Specialty Retail — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 171000 | &nbsp;&nbsp;&nbsp;&nbsp; 176253 |
| &nbsp;&nbsp;&nbsp; LCM Investments Holdings II LLC  | &nbsp;&nbsp;&nbsp; LCM Investments Holdings II LLC  | &nbsp;&nbsp;&nbsp; LCM Investments Holdings II LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 310133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 8/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 541000 | &nbsp;&nbsp;&nbsp;&nbsp; 570781 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc.  | &nbsp;&nbsp;&nbsp; Lithia Motors, Inc.  | &nbsp;&nbsp;&nbsp; Lithia Motors, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 112870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 626000 | &nbsp;&nbsp;&nbsp;&nbsp; 603097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 134366 |
| &nbsp;&nbsp;&nbsp; Michaels Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Michaels Cos., Inc. (The)  | &nbsp;&nbsp;&nbsp; Michaels Cos., Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 442866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 311000 | &nbsp;&nbsp;&nbsp;&nbsp; 282312 |
| &nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc.  | &nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc.  | &nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 203322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 383000 | &nbsp;&nbsp;&nbsp;&nbsp; 359076 |
| &nbsp;&nbsp;&nbsp; Park River Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Park River Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Park River Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 12/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 251285 | &nbsp;&nbsp;&nbsp;&nbsp; 243118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 27000 | &nbsp;&nbsp;&nbsp;&nbsp; 27892 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. 3.75%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 209807 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC 7.50%, 9/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1162000 | &nbsp;&nbsp;&nbsp;&nbsp; 1170899 |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC 11.00%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 469000 | &nbsp;&nbsp;&nbsp;&nbsp; 162510 |
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC 6.75%, 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 279296 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.  | &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.  | &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 43020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 455239 |
| &nbsp;&nbsp;&nbsp; Specialty Building Products Holdings LLC 7.75%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 244000 | &nbsp;&nbsp;&nbsp;&nbsp; 241326 |
| &nbsp;&nbsp;&nbsp; Staples, Inc.  | &nbsp;&nbsp;&nbsp; Staples, Inc.  | &nbsp;&nbsp;&nbsp; Staples, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 990000 | &nbsp;&nbsp;&nbsp;&nbsp; 973013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 441520 | &nbsp;&nbsp;&nbsp;&nbsp; 348003 |
| &nbsp;&nbsp;&nbsp; Upbound Group, Inc. 6.38%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 227519 |
| &nbsp;&nbsp;&nbsp; Valvoline, Inc. 3.63%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 308000 | &nbsp;&nbsp;&nbsp;&nbsp; 283904 |
| &nbsp;&nbsp;&nbsp; Victoria's Secret & Co. 4.63%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 251641 |
| &nbsp;&nbsp;&nbsp; Victra Holdings LLC 8.75%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 229761 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18388180 |
| **Technology Hardware, Storage & Peripherals — 0.4%** | **Technology Hardware, Storage & Peripherals — 0.4%** | **Technology Hardware, Storage & Peripherals — 0.4%** |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf, Inc. 7.75%, 3/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp; 436367 |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd.  | &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd.  | &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 648000 | &nbsp;&nbsp;&nbsp;&nbsp; 632132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 12/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 328683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 381000 | &nbsp;&nbsp;&nbsp;&nbsp; 391660 |
| &nbsp;&nbsp;&nbsp; Xerox Corp. 10.25%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 502000 | &nbsp;&nbsp;&nbsp;&nbsp; 514699 |
| &nbsp;&nbsp;&nbsp; Xerox Holdings Corp.  | &nbsp;&nbsp;&nbsp; Xerox Holdings Corp.  | &nbsp;&nbsp;&nbsp; Xerox Holdings Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 122000 | &nbsp;&nbsp;&nbsp;&nbsp; 51887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 11/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 608000 | &nbsp;&nbsp;&nbsp;&nbsp; 223128 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2578556 |
| **Textiles, Apparel & Luxury Goods — 0.6%** | **Textiles, Apparel & Luxury Goods — 0.6%** | **Textiles, Apparel & Luxury Goods — 0.6%** |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC 10.75% (PIK), 7/15/2033 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1032000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073632 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Textiles, Apparel & Luxury Goods — continued** | **Textiles, Apparel & Luxury Goods — continued** | **Textiles, Apparel & Luxury Goods — continued** |
| &nbsp;&nbsp;&nbsp; Champ Acquisition Corp. 8.38%, 12/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 230806 |
| &nbsp;&nbsp;&nbsp; Crocs, Inc.  | &nbsp;&nbsp;&nbsp; Crocs, Inc.  | &nbsp;&nbsp;&nbsp; Crocs, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 203825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 123534 |
| &nbsp;&nbsp;&nbsp; Hanesbrands, Inc. 9.00%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 273894 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. 4.13%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 189115 |
| &nbsp;&nbsp;&nbsp; Levi Strauss & Co. 3.50%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 217000 | &nbsp;&nbsp;&nbsp;&nbsp; 202249 |
| &nbsp;&nbsp;&nbsp; S&S Holdings LLC 8.38%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 326429 |
| &nbsp;&nbsp;&nbsp; VF Corp.  | &nbsp;&nbsp;&nbsp; VF Corp.  | &nbsp;&nbsp;&nbsp; VF Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 4/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 213000 | &nbsp;&nbsp;&nbsp;&nbsp; 207673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 4/23/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 76000 | &nbsp;&nbsp;&nbsp;&nbsp; 68214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 446000 | &nbsp;&nbsp;&nbsp;&nbsp; 433450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 11/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 26627 |
| &nbsp;&nbsp;&nbsp; Wolverine World Wide, Inc. 4.00%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 256000 | &nbsp;&nbsp;&nbsp;&nbsp; 234676 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3594124 |
| **Tobacco — 0.0% ^** | **Tobacco — 0.0% ^** | **Tobacco — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. 7.63%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 191756 |
| **Trading Companies & Distributors — 1.8%** | **Trading Companies & Distributors — 1.8%** | **Trading Companies & Distributors — 1.8%** |
| &nbsp;&nbsp;&nbsp; Alta Equipment Group, Inc. 9.00%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp; 260665 |
| &nbsp;&nbsp;&nbsp; BlueLinx Holdings, Inc. 6.00%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 157645 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. 4.88%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 171042 |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC  | &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC  | &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 403000 | &nbsp;&nbsp;&nbsp;&nbsp; 404565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 12/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 108000 | &nbsp;&nbsp;&nbsp;&nbsp; 114983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 808000 | &nbsp;&nbsp;&nbsp;&nbsp; 846420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 312542 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Herc Holdings, Inc.  | &nbsp;&nbsp;&nbsp; Herc Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 379000 | &nbsp;&nbsp;&nbsp;&nbsp; 378950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 452000 | &nbsp;&nbsp;&nbsp;&nbsp; 468767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 564000 | &nbsp;&nbsp;&nbsp;&nbsp; 592049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 815160 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. 4.75%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 908727 |
| &nbsp;&nbsp;&nbsp; QXO Building Products, Inc. 6.75%, 4/30/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 973000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016120 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc.  | &nbsp;&nbsp;&nbsp; United Rentals North America, Inc.  | &nbsp;&nbsp;&nbsp; United Rentals North America, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 399000 | &nbsp;&nbsp;&nbsp;&nbsp; 398945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1170000 | &nbsp;&nbsp;&nbsp;&nbsp; 1185549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp; 310079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 894000 | &nbsp;&nbsp;&nbsp;&nbsp; 839938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 401000 | &nbsp;&nbsp;&nbsp;&nbsp; 418804 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.  | &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.  | &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 293337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 145678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1065000 | &nbsp;&nbsp;&nbsp;&nbsp; 1117068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 174000 | &nbsp;&nbsp;&nbsp;&nbsp; 181981 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11339014 |
| **Wireless Telecommunication Services — 1.1%** | **Wireless Telecommunication Services — 1.1%** | **Wireless Telecommunication Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Altice France Lux 3 (Luxembourg) 10.00%, 1/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 262000 | &nbsp;&nbsp;&nbsp;&nbsp; 249584 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Wireless Telecommunication Services — continued** | **Wireless Telecommunication Services — continued** | **Wireless Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL (United Kingdom) 9.00%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 974000 | &nbsp;&nbsp;&nbsp;&nbsp; 1034389 |
| &nbsp;&nbsp;&nbsp; Iliad Holding SAS (France) | &nbsp;&nbsp;&nbsp; Iliad Holding SAS (France) | &nbsp;&nbsp;&nbsp; Iliad Holding SAS (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 631000 | &nbsp;&nbsp;&nbsp;&nbsp; 639985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 697000 | &nbsp;&nbsp;&nbsp;&nbsp; 718491 |
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA (Guatemala) | &nbsp;&nbsp;&nbsp; Millicom International Cellular SA (Guatemala) | &nbsp;&nbsp;&nbsp; Millicom International Cellular SA (Guatemala) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/27/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 487069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 4/2/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 526000 | &nbsp;&nbsp;&nbsp;&nbsp; 545609 |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series NC5, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.65%), 7.00%, 4/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 53000 | &nbsp;&nbsp;&nbsp;&nbsp; 55088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.62%), 7.13%, 4/15/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 719817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.59%), 5.25%, 3/15/2082 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 601650 |
| &nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I plc (United Kingdom) 7.75%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 288000 | &nbsp;&nbsp;&nbsp;&nbsp; 300390 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Vodafone Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Vodafone Group plc (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 4.13%, 6/4/2081 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 956000 | &nbsp;&nbsp;&nbsp;&nbsp; 899038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.07%), 5.13%, 6/4/2081 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 796000 | &nbsp;&nbsp;&nbsp;&nbsp; 631710 |
| &nbsp;&nbsp;&nbsp; Zegona Finance plc (United Kingdom) 8.63%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 444942 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7327762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $627,779,624)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 627956741 |
|  | **SHARES** |  |
| **Common Stocks — 0.0% ^** | **Common Stocks — 0.0% ^** | **Common Stocks — 0.0% ^** |
| **Pharmaceuticals — 0.0% ^** | **Pharmaceuticals — 0.0% ^** | **Pharmaceuticals — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Mallinckrodt \* | &nbsp;&nbsp;&nbsp;&nbsp; 739 | &nbsp;&nbsp;&nbsp;&nbsp; 75332 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt plc | &nbsp;&nbsp;&nbsp;&nbsp; 33671796 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 75332 |
| **Software — 0.0% ^** | **Software — 0.0% ^** | **Software — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Cwt Travel Group, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp;&nbsp; 7275 |
| **Specialty Retail — 0.0% ^** | **Specialty Retail — 0.0% ^** | **Specialty Retail — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Rite Aid ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $65,232)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 82607 |
| **Short-Term Investments — 0.8%** | **Short-Term Investments — 0.8%** | **Short-Term Investments — 0.8%** |
| **Investment Companies — 0.8%** | **Investment Companies — 0.8%** | **Investment Companies — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.95% (j) (k) <br>(Cost $5,401,808)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5401808 | &nbsp;&nbsp;&nbsp;&nbsp; 5401808 |
| **Total Investments — 98.2%** <br>**(Cost $633,246,664)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **633441156** |
| **Other Assets in Excess of Liabilities — 1.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **11302544** |
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **644743700** |

---

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

<br>Percentages indicated are based on net assets.<br>

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| CME | Chicago Mercantile Exchange |
| PIK | Payment In Kind |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

REIT Real Estate Investment Trust <br> SOFR Secured Overnight Financing Rate

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

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| ‡ | Value determined using significant unobservable inputs. |
| \* | Non-income producing security.  |
| (a) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of November 30, 2025. |
| (c) | Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed. |
| (d) | Security is an interest bearing note with preferred security characteristics. |
| (e) | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time <br> and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in <br> effect as of November 30, 2025.<br>|
| (f) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments <br> on the underlying pool of assets. The interest rate shown is the current rate as of November 30, 2025. <br>|
| (g) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a <br> predetermined trigger. The interest rate shown is the current rate as of November 30, 2025. <br>|
| (h) | Defaulted security. |
| (i) | Contingent Capital security ("CoCo"). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a <br> pre-specified trigger event occurs. The total value of aggregate CoCo holdings at November 30, 2025 is $219,292 or 0.03% of the Fund's <br> net assets as of November 30, 2025.<br>|
| (j) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan <br> Investment Management Inc.<br>|
| (k) | The rate shown is the current yield as of November 30, 2025. |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

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

**A. Valuation of Investments**— Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under Securities and Exchange Commission Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

A market-based approach is primarily used to value the Fund's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as "Pricing Services"), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.

Fixed income instruments are valued based on prices received from Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value ("NAV") of the Fund is calculated on a valuation date.

Investments in open-end investment companies ("Underlying Funds") are valued at each Underlying Fund's NAV per share as of the report date.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.

• Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

The following table represents each valuation input as presented on the Schedule of Portfolio Investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $75332 | &nbsp;&nbsp;&nbsp;&nbsp; $—<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $75332 |
| &nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7275 | &nbsp;&nbsp;&nbsp;&nbsp; 7275 |
| &nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 75332 | &nbsp;&nbsp;&nbsp;&nbsp; 7275 | &nbsp;&nbsp;&nbsp;&nbsp; 82607 |
| Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14716615 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14716615 |
| &nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 721427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 721427 |
| &nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15464539 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15464539 |
| &nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6915505 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6915505 |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 636658 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 636658 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 628758 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 628758 |
| &nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 502776 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 502776 |
| &nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8310290 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8310290 |
| &nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13735971 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13735971 |
| &nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7644183 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7644183 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20941452 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20941452 |
| &nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17323225 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17323225 |
| &nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3006080 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3006080 |
| &nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4936103 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4936103 |
| &nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 217709 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 217709 |
| &nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15404405 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15404405 |
| &nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7145626 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7145626 |
| &nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13589446 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13589446 |
| &nbsp;&nbsp;&nbsp; Distributors | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2570651 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2570651 |
| &nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4567355 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4567355 |
| &nbsp;&nbsp;&nbsp; Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1685439 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1685439 |
| &nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34799913 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34799913 |
| &nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13178528 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13178528 |
| &nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1080925 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1080925 |
| &nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1794399 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1794399 |
| &nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11207381 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11207381 |
| &nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7355940 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7355940 |
| &nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19820960 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19820960 |
| &nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9132531 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9132531 |
| &nbsp;&nbsp;&nbsp; Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2964287 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2964287 |
| &nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7927048 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7927048 |
| &nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7500112 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7500112 |
| &nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26583059 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26583059 |
| &nbsp;&nbsp;&nbsp; Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2566079 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2566079 |
| &nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1629847 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1629847 |
| &nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5655719 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5655719 |
| &nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42050199 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42050199 |
| &nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12044653 | &nbsp;&nbsp;&nbsp;&nbsp; 315712 | &nbsp;&nbsp;&nbsp;&nbsp; 12360365 |
| &nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1528547 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1528547 |

---

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7059564 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7059564 |
| &nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15752481 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15752481 |
| &nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1553818 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1553818 |
| &nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7537363 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7537363 |
| &nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 456847 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 456847 |
| &nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 856962 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 856962 |
| &nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7196459 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7196459 |
| &nbsp;&nbsp;&nbsp; Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 410140 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 410140 |
| &nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42811389 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42811389 |
| &nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14006447 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14006447 |
| &nbsp;&nbsp;&nbsp; Mortgage Real Estate Investment Trusts (REITs) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3911155 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3911155 |
| &nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 477875 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 477875 |
| &nbsp;&nbsp;&nbsp; Office REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1955996 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1955996 |
| &nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57990144 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57990144 |
| &nbsp;&nbsp;&nbsp; Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1318879 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1318879 |
| &nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4681046 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4681046 |
| &nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2571194 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2571194 |
| &nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9281182 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9281182 |
| &nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2598240 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2598240 |
| &nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4347604 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4347604 |
| &nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 392106 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 392106 |
| &nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4045626 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4045626 |
| &nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17596631 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17596631 |
| &nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5928149 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5928149 |
| &nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18388180 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18388180 |
| &nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2578556 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2578556 |
| &nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3594124 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3594124 |
| &nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 191756 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 191756 |
| &nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11339014 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11339014 |
| &nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7327762 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7327762 |
| &nbsp;&nbsp;&nbsp; Total Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 627641029 | &nbsp;&nbsp;&nbsp;&nbsp; 315712 | &nbsp;&nbsp;&nbsp;&nbsp; 627956741 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 5401808 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5401808 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $5401808 | &nbsp;&nbsp;&nbsp;&nbsp; $627716361 | &nbsp;&nbsp;&nbsp;&nbsp; $322987 | &nbsp;&nbsp;&nbsp;&nbsp; $633441156 |

---

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

 <br> (a) Value is zero.

**B. Investment Transactions with Affiliates**— The Fund invested in an Underlying Fund advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer.

------

**JPMorgan BetaBuilders USD High Yield Corporate Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2025**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**November 30,** <br>**2025**<br>| **Shares at** <br>**November 30,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, <br> 3.95% (a) (b)<br>| $6152103 | $74440164 | $75190459 | $— | $— | $5401808 | 5401808 | $144870 | $— |

---

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

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of November 30, 2025.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** J.P. Morgan Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-22903

- **c. CIK number of Registrant:** 0001485894

- **d. LEI of Registrant:** 5493001E1K1DVWDV2464

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

  - **Street Address 1:** 390 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 844-457-6383

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

- **a. Name of Series:** JPMorgan BetaBuilders USD High Yield Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000054488

- **c. LEI of Series:** 549300UUJZT2ZWE64W88

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $644850984.01

**Total Liabilities:** $38357.74

**Net Assets:** $644812626.27

**Cash Not Reported:** $412758.31

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 5.34754000 | **1-Year:** 252.75493000 | **5-Year:** 975.86121000 | **10-Year:** 328.21808000 | **30-Year:** 0.00000000

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

- **3-Month:** 957.88455000 | **1-Year:** 37808.96925000 | **5-Year:** 121024.56970000 | **10-Year:** 18654.80052000 | **30-Year:** 3583.79099000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000171065 | 0.83%                | 0.21%                | 0.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-166051.44              | $1583240.04                                |
| Month 2  | $74584.07                | $-2516267.41                               |
| Month 3  | $-40702.36               | $-534413.41                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                            | Title                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Global Auto Holdings Ltd.                                       | Global Auto Holdings Ltd.                                       | CUSIP: 00033GAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    444000 | PA      | $419751.61    | 0.07%             | 2032-01-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Global Auto Holdings Ltd.                                       | Global Auto Holdings Ltd.                                       | CUSIP: 00033YAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    291000 | PA      | $298765.46    | 0.05%             | 2029-08-15      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| ACCO Brands Corp.                                               | ACCO Brands Corp.                                               | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |    267000 | PA      | $242048.10    | 0.04%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                        | ADT Security Corp. (The)                                        | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    242000 | PA      | $235454.63    | 0.04%             | 2029-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| AG Issuer LLC                                                   | AG Issuer LLC                                                   | CUSIP: 00119LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $139390.73    | 0.02%             | 2028-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AES Corp. (The)                                                 | AES Corp. (The)                                                 | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204023.60    | 0.03%             | 2055-01-15      | Variable      | 7.60%                 | No            |                  2 | On Loan: No      |
| AES Corp. (The)                                                 | AES Corp. (The)                                                 | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    495000 | PA      | $482881.95    | 0.07%             | 2055-07-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners, Inc.                                       | AHP Health Partners, Inc.                                       | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    166000 | PA      | $162776.61    | 0.03%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| AMC Networks, Inc.                                              | AMC Networks, Inc.                                              | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    185000 | PA      | $162435.29    | 0.03%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMC Networks, Inc.                                              | AMC Networks, Inc.                                              | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    394000 | PA      | $413342.64    | 0.06%             | 2029-01-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| AMC Networks, Inc.                                              | AMC Networks, Inc.                                              | CUSIP: 00164VAK9<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    183000 | PA      | $196040.21    | 0.03%             | 2032-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| AMC Entertainment Holdings, Inc.                                | AMC Entertainment Holdings, Inc.                                | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |     93000 | PA      | $83569.01     | 0.01%             | 2029-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| AMN Healthcare, Inc.                                            | AMN Healthcare, Inc.                                            | CUSIP: 00175PAC7<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |    185000 | PA      | $176225.23    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ANGI Group LLC                                                  | ANGI Group LLC                                                  | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    293000 | PA      | $264558.40    | 0.04%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                              | APi Group DE, Inc.                                              | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    183000 | PA      | $179822.44    | 0.03%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                              | APi Group DE, Inc.                                              | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     83000 | PA      | $80648.04     | 0.01%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| APH Somerset Investor 2 LLC                                     | APH Somerset Investor 2 LLC                                     | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $327730.00    | 0.05%             | 2029-11-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ARD Finance SA                                                  | ARD Finance SA                                                  | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    304297 | PA      | $3042.97      | 0.00%             | 2027-06-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ASGN, Inc.                                                      | ASGN, Inc.                                                      | CUSIP: 00191UAA0<br>LEI: LZBNYYCBUKY537072438 | Long             | DBT              | CORP              | US        |    271000 | PA      | $265502.58    | 0.04%             | 2028-05-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ATS Corp.                                                       | ATS Corp.                                                       | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |    168000 | PA      | $163037.94    | 0.03%             | 2028-12-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ATP Tower Holdings LLC                                          | ATP Tower Holdings LLC                                          | CUSIP: 00216DAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    277000 | PA      | $271828.41    | 0.04%             | 2026-04-27      | Fixed         | 4.05%                 | Yes           |                  2 | On Loan: No      |
| ASP Unifrax Holdings, Inc.                                      | ASP Unifrax Holdings, Inc.                                      | CUSIP: 00218LAG6<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |     53002 | PA      | $41474.07     | 0.01%             | 2029-09-30      | Fixed         | 11.18%                | Yes           |                  2 | On Loan: No      |
| ASP Unifrax Holdings, Inc.                                      | ASP Unifrax Holdings, Inc.                                      | CUSIP: 00218LAH4<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |    400732 | PA      | $60109.80     | 0.01%             | 2029-09-30      | Fixed         | 7.10%                 | Yes           |                  2 | On Loan: No      |
| AAR Escrow Issuer LLC                                           | AAR Escrow Issuer LLC                                           | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $326939.76    | 0.05%             | 2029-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                         | American Airlines, Inc.                                         | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    243009 | PA      | $245869.22    | 0.04%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Academy Ltd.                                                    | Academy Ltd.                                                    | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |    178000 | PA      | $178132.25    | 0.03%             | 2027-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                     | Acadia Healthcare Co., Inc.                                     | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    507000 | PA      | $502268.98    | 0.08%             | 2028-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                     | Acadia Healthcare Co., Inc.                                     | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    226000 | PA      | $219569.96    | 0.03%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                     | Acadia Healthcare Co., Inc.                                     | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     39000 | PA      | $39743.65     | 0.01%             | 2033-03-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 00489LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $252544.37    | 0.04%             | 2029-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 00489LAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1061515.02   | 0.16%             | 2029-02-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $160949.99    | 0.02%             | 2030-11-06      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 00489LAM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    414000 | PA      | $433904.29    | 0.07%             | 2029-06-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $97306.51     | 0.02%             | 2032-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Adams Homes, Inc.                                               | Adams Homes, Inc.                                               | CUSIP: 00623PAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $179510.51    | 0.03%             | 2028-10-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| AdaptHealth LLC                                                 | AdaptHealth LLC                                                 | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    483000 | PA      | $487201.62    | 0.08%             | 2028-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| AdaptHealth LLC                                                 | AdaptHealth LLC                                                 | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212000 | PA      | $205865.93    | 0.03%             | 2030-03-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                     | Adient Global Holdings Ltd.                                     | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    608000 | PA      | $623833.54    | 0.10%             | 2028-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                     | Adient Global Holdings Ltd.                                     | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    168000 | PA      | $176572.87    | 0.03%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                     | Adient Global Holdings Ltd.                                     | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     58000 | PA      | $60046.41     | 0.01%             | 2033-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Adtalem Global Education, Inc.                                  | Adtalem Global Education, Inc.                                  | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |    199000 | PA      | $198551.16    | 0.03%             | 2028-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                        | Advance Auto Parts, Inc.                                        | CUSIP: 00751YAE6<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    165000 | PA      | $151626.37    | 0.02%             | 2030-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                        | Advance Auto Parts, Inc.                                        | CUSIP: 00751YAF3<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    658000 | PA      | $621292.29    | 0.10%             | 2027-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                        | Advance Auto Parts, Inc.                                        | CUSIP: 00751YAJ5<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    323000 | PA      | $330125.38    | 0.05%             | 2028-03-09      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                        | Advance Auto Parts, Inc.                                        | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    113000 | PA      | $115332.96    | 0.02%             | 2030-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                        | Advance Auto Parts, Inc.                                        | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    240000 | PA      | $244497.60    | 0.04%             | 2033-08-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| AECOM                                                           | AECOM                                                           | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    537000 | PA      | $552003.78    | 0.09%             | 2033-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Advantage Sales & Marketing, Inc.                               | Advantage Sales & Marketing, Inc.                               | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |    313000 | PA      | $265267.50    | 0.04%             | 2028-11-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                 | Advanced Drainage Systems, Inc.                                 | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    329000 | PA      | $328574.31    | 0.05%             | 2027-09-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                 | Advanced Drainage Systems, Inc.                                 | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |     93000 | PA      | $94814.80     | 0.01%             | 2030-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                            | Osaic Holdings, Inc.                                            | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     74000 | PA      | $76642.10     | 0.01%             | 2032-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                            | Osaic Holdings, Inc.                                            | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    479000 | PA      | $493289.05    | 0.08%             | 2033-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Aethon United BR LP                                             | Aethon United BR LP                                             | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    449000 | PA      | $469169.98    | 0.07%             | 2029-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Affinity Interactive                                            | Affinity Interactive                                            | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    238000 | PA      | $102340.00    | 0.02%             | 2027-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                                           | Ahead DB Holdings LLC                                           | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |    242000 | PA      | $242800.78    | 0.04%             | 2028-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    694000 | PA      | $695079.17    | 0.11%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49000 | PA      | $48963.53     | 0.01%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    877000 | PA      | $870393.82    | 0.13%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    609000 | PA      | $583862.19    | 0.09%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 01309QAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $167956.80    | 0.03%             | 2028-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    154000 | PA      | $159468.69    | 0.02%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 01309QAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    781000 | PA      | $787297.98    | 0.12%             | 2034-03-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Albion Financing 1 SARL                                         | Albion Financing 1 SARL                                         | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    548000 | PA      | $569620.79    | 0.09%             | 2030-05-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Alcoa Nederland Holding BV                                      | Alcoa Nederland Holding BV                                      | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    621000 | PA      | $658020.92    | 0.10%             | 2031-03-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Algoma Steel, Inc.                                              | Algoma Steel, Inc.                                              | CUSIP: 01566MAD7<br>LEI: 5493006RXIB5GVHWJS53 | Long             | DBT              | CORP              | CA        |    168000 | PA      | $134769.99    | 0.02%             | 2029-04-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                               | Algonquin Power & Utilities Corp.                               | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    485000 | PA      | $477874.67    | 0.07%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| ATI, Inc.                                                       | ATI, Inc.                                                       | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    198000 | PA      | $197581.78    | 0.03%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ATI, Inc.                                                       | ATI, Inc.                                                       | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65123.76     | 0.01%             | 2031-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ATI, Inc.                                                       | ATI, Inc.                                                       | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    384000 | PA      | $405423.46    | 0.06%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Allegiant Travel Co.                                            | Allegiant Travel Co.                                            | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |    254000 | PA      | $257201.67    | 0.04%             | 2027-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Allen Media LLC                                                 | Allen Media LLC                                                 | CUSIP: 01771YAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $135020.00    | 0.02%             | 2028-02-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Bread Financial Holdings, Inc.                                  | Bread Financial Holdings, Inc.                                  | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |     77000 | PA      | $78925.62     | 0.01%             | 2035-06-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Alliance Resource Operating Partners LP                         | Alliance Resource Operating Partners LP                         | CUSIP: 01879NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    172000 | PA      | $181423.19    | 0.03%             | 2029-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    126000 | PA      | $124273.79    | 0.02%             | 2027-10-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24704.81     | 0.00%             | 2029-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1058000 | PA      | $1077314.85   | 0.17%             | 2028-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    778000 | PA      | $808334.22    | 0.13%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    870000 | PA      | $894982.05    | 0.14%             | 2031-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    269000 | PA      | $278098.66    | 0.04%             | 2032-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                     | Allied Universal Holdco LLC                                     | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $372596.19    | 0.06%             | 2029-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                     | Allied Universal Holdco LLC                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   1523000 | PA      | $1603501.21   | 0.25%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                     | Allied Universal Holdco LLC                                     | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $148837.54    | 0.02%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                      | Allison Transmission, Inc.                                      | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    173000 | PA      | $172697.11    | 0.03%             | 2027-10-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                      | Allison Transmission, Inc.                                      | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    623000 | PA      | $632244.70    | 0.10%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                            | Ally Financial, Inc.                                            | CUSIP: 02005NBS8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     98000 | PA      | $102596.77    | 0.02%             | 2033-02-14      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                            | Ally Financial, Inc.                                            | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    540000 | PA      | $542547.64    | 0.08%             | 2040-01-17      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                            | Alpha Generation LLC                                            | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    429000 | PA      | $441522.08    | 0.07%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Alpha Generation LLC                                            | Alpha Generation LLC                                            | CUSIP: 02073LAC5<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18028.24     | 0.00%             | 2034-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                | Altice France SA                                                | CUSIP: 02090DAC2<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    496000 | PA      | $474029.04    | 0.07%             | 2031-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                | Altice France SA                                                | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1481000 | PA      | $1440908.17   | 0.22%             | 2032-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                | Altice France SA                                                | CUSIP: 02090DAE8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    946000 | PA      | $922079.79    | 0.14%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Altice France Lux 3/Altice Holdings 1                           | Altice France Lux 3                                             | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    262000 | PA      | $249583.69    | 0.04%             | 2033-01-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Alta Equipment Group, Inc.                                      | Alta Equipment Group, Inc.                                      | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |    294000 | PA      | $260665.10    | 0.04%             | 2029-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| AltaGas Ltd.                                                    | AltaGas Ltd.                                                    | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |    484000 | PA      | $500745.92    | 0.08%             | 2054-10-15      | Variable      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                             | Altice Financing SA                                             | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    810000 | PA      | $541460.70    | 0.08%             | 2028-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                             | Altice Financing SA                                             | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    533000 | PA      | $355777.50    | 0.06%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                             | Altice Financing SA                                             | CUSIP: 02154CAJ2<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    210000 | PA      | $167615.70    | 0.03%             | 2027-07-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Alumina Pty. Ltd.                                               | Alumina Pty. Ltd.                                               | CUSIP: 02220AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |    330000 | PA      | $339324.10    | 0.05%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Amentum Holdings, Inc.                                          | Amentum Holdings, Inc.                                          | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    478000 | PA      | $501736.05    | 0.08%             | 2032-08-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Amer Sports Co.                                                 | Amer Sports Co.                                                 | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |    438000 | PA      | $456847.14    | 0.07%             | 2031-02-16      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                         | American Airlines, Inc.                                         | CUSIP: 023771T32<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    926000 | PA      | $947961.06    | 0.15%             | 2028-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                         | American Airlines, Inc.                                         | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    951000 | PA      | $993456.31    | 0.15%             | 2029-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                             | American Axle & Manufacturing, Inc.                             | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    323000 | PA      | $324365.00    | 0.05%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                             | American Axle & Manufacturing, Inc.                             | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    715000 | PA      | $719385.81    | 0.11%             | 2032-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                             | American Axle & Manufacturing, Inc.                             | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    397000 | PA      | $400947.37    | 0.06%             | 2033-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| American Builders & Contractors Supply Co., Inc.                | American Builders & Contractors Supply Co., Inc.                | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |    495000 | PA      | $489662.91    | 0.08%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                   | American National Group, Inc.                                   | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    218000 | PA      | $219291.65    | 0.03%             | 2055-12-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| AmeriTex HoldCo Intermediate LLC                                | AmeriTex HoldCo Intermediate LLC                                | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    366000 | PA      | $384517.04    | 0.06%             | 2033-08-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| AmeriGas Partners LP                                            | AmeriGas Partners LP                                            | CUSIP: 030981AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    485000 | PA      | $486895.87    | 0.08%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AmeriGas Partners LP                                            | AmeriGas Partners LP                                            | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    282000 | PA      | $292765.91    | 0.05%             | 2028-06-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Amkor Technology, Inc.                                          | Amkor Technology, Inc.                                          | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76351.50     | 0.01%             | 2033-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                                      | Amneal Pharmaceuticals LLC                                      | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |    328000 | PA      | $346458.86    | 0.05%             | 2032-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| AmWINS Group, Inc.                                              | AmWINS Group, Inc.                                              | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    649000 | PA      | $666931.87    | 0.10%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Amsted Industries, Inc.                                         | Amsted Industries, Inc.                                         | CUSIP: 032177AJ6<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |    133000 | PA      | $131182.58    | 0.02%             | 2030-05-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Amsted Industries, Inc.                                         | Amsted Industries, Inc.                                         | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |    255000 | PA      | $263815.35    | 0.04%             | 2033-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ams-OSRAM AG                                                    | ams-OSRAM AG                                                    | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    324000 | PA      | $346603.54    | 0.05%             | 2029-03-30      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. | Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    166000 | PA      | $169826.80    | 0.03%             | 2033-07-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                    | Antero Midstream Partners LP                                    | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    796000 | PA      | $796944.06    | 0.12%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                    | Antero Midstream Partners LP                                    | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    213000 | PA      | $213702.39    | 0.03%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                    | Antero Midstream Partners LP                                    | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143000 | PA      | $143706.99    | 0.02%             | 2033-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc.                     | Apollo Commercial Real Estate Finance, Inc.                     | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |    223000 | PA      | $216648.54    | 0.03%             | 2029-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Aptiv Swiss Holdings Ltd.                                       | Aptiv Swiss Holdings Ltd.                                       | CUSIP: 03837AAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    244000 | PA      | $250538.22    | 0.04%             | 2054-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Aragvi Finance International DAC                                | Aragvi Finance International DAC                                | CUSIP: 03851RAC8<br>LEI: 635400VKAYT1VT6VBF50 | Long             | DBT              | CORP              | IE        |    248000 | PA      | $245520.00    | 0.04%             | 2029-11-20      | Fixed         | 11.12%                | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                          | Aramark Services, Inc.                                          | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    497000 | PA      | $497296.71    | 0.08%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                              | Arches Buyer, Inc.                                              | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    675000 | PA      | $660673.80    | 0.10%             | 2028-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Archrock Partners LP                                            | Archrock Partners LP                                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    581000 | PA      | $584567.34    | 0.09%             | 2028-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Archrock Partners LP                                            | Archrock Partners LP                                            | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $120477.71    | 0.02%             | 2032-09-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Arcosa, Inc.                                                    | Arcosa, Inc.                                                    | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    181000 | PA      | $177387.00    | 0.03%             | 2029-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Arcosa, Inc.                                                    | Arcosa, Inc.                                                    | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    264000 | PA      | $277402.75    | 0.04%             | 2032-08-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                          | Ardagh Metal Packaging Finance USA LLC                          | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $192548.58    | 0.03%             | 2028-09-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                          | Ardagh Metal Packaging Finance USA LLC                          | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    812000 | PA      | $755760.56    | 0.12%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Ardonagh Finco Ltd.                                             | Ardonagh Finco Ltd.                                             | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    801000 | PA      | $837451.91    | 0.13%             | 2031-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Ardonagh Group Finance Ltd.                                     | Ardonagh Group Finance Ltd.                                     | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    474000 | PA      | $488714.86    | 0.08%             | 2032-02-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Aretec Group, Inc.                                              | Aretec Group, Inc.                                              | CUSIP: 040133AA8<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |    416000 | PA      | $418200.64    | 0.06%             | 2029-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Aretec Group, Inc.                                              | Aretec Group, Inc.                                              | CUSIP: 04020JAA4<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |    136000 | PA      | $147567.34    | 0.02%             | 2030-08-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Arko Corp.                                                      | Arko Corp.                                                      | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $250923.56    | 0.04%             | 2029-11-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Arsenal AIC Parent LLC                                          | Arsenal AIC Parent LLC                                          | CUSIP: 04288BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $366437.14    | 0.06%             | 2030-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Arsenal AIC Parent LLC                                          | Arsenal AIC Parent LLC                                          | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $209610.47    | 0.03%             | 2031-10-01      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Artera Services LLC                                             | Artera Services LLC                                             | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |    260000 | PA      | $224756.04    | 0.03%             | 2031-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                   | Asbury Automotive Group, Inc.                                   | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    811000 | PA      | $795506.98    | 0.12%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                   | Asbury Automotive Group, Inc.                                   | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    195000 | PA      | $189790.34    | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                             | Ascent Resources Utica Holdings LLC                             | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    294000 | PA      | $294912.28    | 0.05%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                             | Ascent Resources Utica Holdings LLC                             | CUSIP: 04364VAX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    541000 | PA      | $553366.72    | 0.09%             | 2032-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                             | Ascent Resources Utica Holdings LLC                             | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $34652.61     | 0.01%             | 2033-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Ashland, Inc.                                                   | Ashland, Inc.                                                   | CUSIP: 044209AM6<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |     91000 | PA      | $94423.51     | 0.01%             | 2043-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ashland, Inc.                                                   | Ashland, Inc.                                                   | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |    231000 | PA      | $208830.33    | 0.03%             | 2031-09-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods USA LLC                                            | Ashton Woods USA LLC                                            | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    438000 | PA      | $414647.94    | 0.06%             | 2030-04-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods USA LLC                                            | Ashton Woods USA LLC                                            | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    169000 | PA      | $169861.06    | 0.03%             | 2033-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Aston Martin Capital Holdings Ltd.                              | Aston Martin Capital Holdings Ltd.                              | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    491000 | PA      | $434245.95    | 0.07%             | 2029-03-31      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Armor Holdco, Inc.                                              | Armor Holdco, Inc.                                              | CUSIP: 04625PAA9<br>LEI: 254900X6HLK0YPTHHF09 | Long             | DBT              | CORP              | US        |    152000 | PA      | $151774.48    | 0.02%             | 2029-11-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Atkore, Inc.                                                    | Atkore, Inc.                                                    | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |    280000 | PA      | $269781.74    | 0.04%             | 2031-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Atlanticus Holdings Corp.                                       | Atlanticus Holdings Corp.                                       | CUSIP: 04914AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $173904.37    | 0.03%             | 2030-09-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Atlantica Sustainable Infrastructure Ltd.                       | Atlantica Sustainable Infrastructure Ltd.                       | CUSIP: 04916WAA2<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |    481000 | PA      | $470039.02    | 0.07%             | 2028-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                     | Allied Universal Holdco LLC                                     | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    824000 | PA      | $809257.40    | 0.13%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                           | Avantor Funding, Inc.                                           | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   1028000 | PA      | $1018290.85   | 0.16%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                           | Avantor Funding, Inc.                                           | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42949.34     | 0.01%             | 2029-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Avient Corp.                                                    | Avient Corp.                                                    | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    410000 | PA      | $423311.06    | 0.07%             | 2030-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Avient Corp.                                                    | Avient Corp.                                                    | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    181000 | PA      | $184595.93    | 0.03%             | 2031-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                      | Avis Budget Car Rental LLC                                      | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    477000 | PA      | $476208.61    | 0.07%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                      | Avis Budget Car Rental LLC                                      | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $213249.19    | 0.03%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                      | Avis Budget Car Rental LLC                                      | CUSIP: 053773BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $138483.75    | 0.02%             | 2028-04-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                      | Avis Budget Car Rental LLC                                      | CUSIP: 053773BH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     88000 | PA      | $89866.92     | 0.01%             | 2031-02-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                      | Avis Budget Car Rental LLC                                      | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15447.62     | 0.00%             | 2030-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                      | Avis Budget Car Rental LLC                                      | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    574000 | PA      | $591009.92    | 0.09%             | 2032-06-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                      | Axalta Coating Systems LLC                                      | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    536000 | PA      | $535973.04    | 0.08%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems Dutch Holding B BV                       | Axalta Coating Systems Dutch Holding B BV                       | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $158539.80    | 0.02%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                           | Axon Enterprise, Inc.                                           | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    296000 | PA      | $305107.92    | 0.05%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                           | Axon Enterprise, Inc.                                           | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    460000 | PA      | $477586.72    | 0.07%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                             | Azorra Finance Ltd.                                             | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    271000 | PA      | $285432.11    | 0.04%             | 2030-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                             | Azorra Finance Ltd.                                             | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     88000 | PA      | $91855.54     | 0.01%             | 2031-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                 | B&G Foods, Inc.                                                 | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    365000 | PA      | $356476.12    | 0.06%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                 | B&G Foods, Inc.                                                 | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    198000 | PA      | $196426.99    | 0.03%             | 2028-09-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| LBM Acquisition LLC                                             | LBM Acquisition LLC                                             | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    586000 | PA      | $524188.08    | 0.08%             | 2029-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                          | BWX Technologies, Inc.                                          | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    255000 | PA      | $250171.98    | 0.04%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                          | BWX Technologies, Inc.                                          | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98135.52     | 0.02%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC                            | Baldwin Insurance Group Holdings LLC                            | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $295858.22    | 0.05%             | 2031-05-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                                      | Ball Corp.                                                      | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    516000 | PA      | $475785.54    | 0.07%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Ball Corp.                                                      | Ball Corp.                                                      | CUSIP: 058498AX4<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    185000 | PA      | $169828.63    | 0.03%             | 2031-09-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Ball Corp.                                                      | Ball Corp.                                                      | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    371000 | PA      | $381835.43    | 0.06%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ball Corp.                                                      | Ball Corp.                                                      | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    639000 | PA      | $651032.37    | 0.10%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bausch + Lomb Corp.                                             | Bausch + Lomb Corp.                                             | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    631000 | PA      | $657817.50    | 0.10%             | 2028-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    534000 | PA      | $481267.50    | 0.07%             | 2028-01-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    443000 | PA      | $325605.00    | 0.05%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    503000 | PA      | $339525.00    | 0.05%             | 2031-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    461000 | PA      | $417202.87    | 0.06%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    398000 | PA      | $416016.80    | 0.06%             | 2028-09-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AR8<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    628000 | PA      | $632710.58    | 0.10%             | 2030-10-15      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer, Inc.    | BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer, Inc.    | CUSIP: 072933AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    168000 | PA      | $163856.13    | 0.03%             | 2032-07-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Baytex Energy Corp.                                             | Baytex Energy Corp.                                             | CUSIP: 07317QAJ4<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |    575000 | PA      | $606470.84    | 0.09%             | 2030-04-30      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                     | Beach Acquisition Bidco LLC                                     | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   1032000 | PA      | $1116775.70   | 0.17%             | 2033-07-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Beacon Mobility Corp.                                           | Beacon Mobility Corp.                                           | CUSIP: 073644AA4<br>LEI: 254900EBTYFG24UQEM31 | Long             | DBT              | CORP              | US        |    270000 | PA      | $282573.90    | 0.04%             | 2030-08-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Beazer Homes USA, Inc.                                          | Beazer Homes USA, Inc.                                          | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    195000 | PA      | $195229.13    | 0.03%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Beazer Homes USA, Inc.                                          | Beazer Homes USA, Inc.                                          | CUSIP: 07556QBT1<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    220000 | PA      | $224997.96    | 0.03%             | 2029-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bell Canada (The)                                               | Bell Canada (The)                                               | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    798000 | PA      | $828284.10    | 0.13%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Bell Canada (The)                                               | Bell Canada (The)                                               | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    219000 | PA      | $230409.02    | 0.04%             | 2055-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| BellRing Brands, Inc.                                           | BellRing Brands, Inc.                                           | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    363000 | PA      | $374430.14    | 0.06%             | 2030-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Belron UK Finance plc                                           | Belron UK Finance plc                                           | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    514000 | PA      | $522702.53    | 0.08%             | 2029-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Big River Steel LLC                                             | Big River Steel LLC                                             | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    309000 | PA      | $309671.77    | 0.05%             | 2029-01-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Mortgage Trust, Inc.                                 | Blackstone Mortgage Trust, Inc.                                 | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    297000 | PA      | $292791.87    | 0.05%             | 2027-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Mortgage Trust, Inc.                                 | Blackstone Mortgage Trust, Inc.                                 | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |     98000 | PA      | $102831.01    | 0.02%             | 2029-12-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| BlackRock TCP Capital Corp.                                     | BlackRock TCP Capital Corp.                                     | CUSIP: 09259EAC2<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |    146000 | PA      | $148404.57    | 0.02%             | 2029-05-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Brightline East LLC                                             | Brightline East LLC                                             | CUSIP: 093536AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    332000 | PA      | $114880.93    | 0.02%             | 2030-01-31      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Block Communications, Inc.                                      | Block Communications, Inc.                                      | CUSIP: 093645AJ8<br>LEI: M5G68A9OHJWIL4SFC742 | Long             | DBT              | CORP              | US        |    130000 | PA      | $121679.38    | 0.02%             | 2028-03-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Bloomin' Brands, Inc.                                           | Bloomin' Brands, Inc.                                           | CUSIP: 094234AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $116329.02    | 0.02%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                        | Blue Racer Midstream LLC                                        | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    104000 | PA      | $108466.70    | 0.02%             | 2029-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                        | Blue Racer Midstream LLC                                        | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     64000 | PA      | $68051.07     | 0.01%             | 2032-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| BlueLinx Holdings, Inc.                                         | BlueLinx Holdings, Inc.                                         | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |    162000 | PA      | $157644.79    | 0.02%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Boise Cascade Co.                                               | Boise Cascade Co.                                               | CUSIP: 09739DAD2<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | DBT              | CORP              | US        |    173000 | PA      | $171041.92    | 0.03%             | 2030-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751AL5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    187000 | PA      | $209251.32    | 0.03%             | 2034-05-01      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    938000 | PA      | $940844.95    | 0.15%             | 2028-02-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    406000 | PA      | $423708.50    | 0.07%             | 2029-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    432000 | PA      | $460154.74    | 0.07%             | 2031-07-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    258000 | PA      | $272084.93    | 0.04%             | 2033-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    255000 | PA      | $254509.56    | 0.04%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Borr IHC Ltd.                                                   | Borr IHC Ltd.                                                   | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    385854 | PA      | $383164.48    | 0.06%             | 2028-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Borr IHC Ltd.                                                   | Borr IHC Ltd.                                                   | CUSIP: 100018AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    419854 | PA      | $415655.85    | 0.06%             | 2030-11-15      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| Boyd Gaming Corp.                                               | Boyd Gaming Corp.                                               | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    915000 | PA      | $891436.92    | 0.14%             | 2031-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Boyne USA, Inc.                                                 | Boyne USA, Inc.                                                 | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    319000 | PA      | $313923.85    | 0.05%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Brand Industrial Services, Inc.                                 | Brand Industrial Services, Inc.                                 | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    640000 | PA      | $627620.42    | 0.10%             | 2030-08-01      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| Brandywine Operating Partnership LP                             | Brandywine Operating Partnership LP                             | CUSIP: 105340AP8<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |    115000 | PA      | $110545.11    | 0.02%             | 2029-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Brandywine Operating Partnership LP                             | Brandywine Operating Partnership LP                             | CUSIP: 105340AQ6<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |    390000 | PA      | $385218.05    | 0.06%             | 2027-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Brandywine Operating Partnership LP                             | Brandywine Operating Partnership LP                             | CUSIP: 105340AR4<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |    182000 | PA      | $191912.63    | 0.03%             | 2028-03-15      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| Brandywine Operating Partnership LP                             | Brandywine Operating Partnership LP                             | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |     60000 | PA      | $64984.80     | 0.01%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Brinker International, Inc.                                     | Brinker International, Inc.                                     | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |    186000 | PA      | $197336.70    | 0.03%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Brink's Co. (The)                                               | Brink's Co. (The)                                               | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    223000 | PA      | $222318.65    | 0.03%             | 2027-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Brink's Co. (The)                                               | Brink's Co. (The)                                               | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    305000 | PA      | $314931.72    | 0.05%             | 2029-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Brink's Co. (The)                                               | Brink's Co. (The)                                               | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    154000 | PA      | $160603.37    | 0.02%             | 2032-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bristow Group, Inc.                                             | Bristow Group, Inc.                                             | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    247000 | PA      | $248803.10    | 0.04%             | 2028-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| British Telecommunications plc                                  | British Telecommunications plc                                  | CUSIP: 11102AAF8<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    330000 | PA      | $326479.43    | 0.05%             | 2081-11-23      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Broadstreet Partners Group LLC                                  | Broadstreet Partners Group LLC                                  | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |    240000 | PA      | $239593.97    | 0.04%             | 2029-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Residential Properties, Inc.                         | Brookfield Residential Properties, Inc.                         | CUSIP: 11283YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    529000 | PA      | $529602.53    | 0.08%             | 2027-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Residential Properties, Inc.                         | Brookfield Residential Properties, Inc.                         | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    134000 | PA      | $124285.00    | 0.02%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Property REIT, Inc.                                  | Brookfield Property REIT, Inc.                                  | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    399000 | PA      | $392105.80    | 0.06%             | 2027-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    356000 | PA      | $336877.78    | 0.05%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    178000 | PA      | $176871.69    | 0.03%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    511000 | PA      | $505412.67    | 0.08%             | 2027-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AU5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    261000 | PA      | $259613.65    | 0.04%             | 2028-03-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    126000 | PA      | $131248.91    | 0.02%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                      | Builders FirstSource, Inc.                                      | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    440000 | PA      | $438150.90    | 0.07%             | 2030-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                      | Builders FirstSource, Inc.                                      | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    498000 | PA      | $473327.34    | 0.07%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                      | Builders FirstSource, Inc.                                      | CUSIP: 12008RAR8<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    847000 | PA      | $882142.03    | 0.14%             | 2032-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                      | Builders FirstSource, Inc.                                      | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124814.04    | 0.02%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Burford Capital Global Finance LLC                              | Burford Capital Global Finance LLC                              | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    203000 | PA      | $199644.04    | 0.03%             | 2030-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Burford Capital Global Finance LLC                              | Burford Capital Global Finance LLC                              | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    629000 | PA      | $653607.11    | 0.10%             | 2031-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| C&S Group Enterprises LLC                                       | C&S Group Enterprises LLC                                       | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    191000 | PA      | $177405.63    | 0.03%             | 2028-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $25963.33     | 0.00%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    452000 | PA      | $448225.44    | 0.07%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2157000 | PA      | $2135985.64   | 0.33%             | 2029-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1909000 | PA      | $1818278.78   | 0.28%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1046000 | PA      | $978734.25    | 0.15%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1168000 | PA      | $1075998.39   | 0.17%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1189000 | PA      | $1044543.87   | 0.16%             | 2033-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1131000 | PA      | $958327.85    | 0.15%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    867000 | PA      | $796630.12    | 0.12%             | 2032-02-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1689000 | PA      | $1723371.44   | 0.27%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                           | Churchill Downs, Inc.                                           | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |   1108000 | PA      | $1116580.35   | 0.17%             | 2030-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                                         | CD&R Smokey Buyer, Inc.                                         | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    438000 | PA      | $296436.43    | 0.05%             | 2029-10-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Viridien                                                        | Viridien                                                        | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    218000 | PA      | $229810.15    | 0.04%             | 2030-10-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    129000 | PA      | $128989.47    | 0.02%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    286000 | PA      | $258116.09    | 0.04%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1153000 | PA      | $1031519.23   | 0.16%             | 2031-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    385000 | PA      | $319903.35    | 0.05%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    609000 | PA      | $575319.49    | 0.09%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1057000 | PA      | $1141692.13   | 0.18%             | 2032-01-15      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    730000 | PA      | $776339.67    | 0.12%             | 2034-01-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| CHC Group LLC                                                   | CHC Group LLC                                                   | CUSIP: 12550EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    131000 | PA      | $125591.82    | 0.02%             | 2030-09-01      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| CMG Media Corp.                                                 | CMG Media Corp.                                                 | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    331000 | PA      | $271420.00    | 0.04%             | 2029-06-18      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                                            | CP Atlas Buyer, Inc.                                            | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |    344000 | PA      | $348003.13    | 0.05%             | 2030-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                                            | CP Atlas Buyer, Inc.                                            | CUSIP: 12597YAD1<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |    331000 | PA      | $306589.01    | 0.05%             | 2031-01-15      | Variable      | 12.75%                | Yes           |                  2 | On Loan: No      |
| CPI CG, Inc.                                                    | CPI CG, Inc.                                                    | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |    115000 | PA      | $120807.50    | 0.02%             | 2029-07-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| XPO CNW, Inc.                                                   | XPO CNW, Inc.                                                   | CUSIP: 12612WAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $137341.44    | 0.02%             | 2034-05-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    922000 | PA      | $795573.30    | 0.12%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    943000 | PA      | $683506.39    | 0.11%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    909000 | PA      | $570893.72    | 0.09%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1073000 | PA      | $396378.86    | 0.06%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    599000 | PA      | $341643.45    | 0.05%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    995000 | PA      | $355352.81    | 0.06%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    361000 | PA      | $200477.13    | 0.03%             | 2031-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    771000 | PA      | $435912.22    | 0.07%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    867000 | PA      | $299645.37    | 0.05%             | 2031-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    404000 | PA      | $284786.10    | 0.04%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| CNX Resources Corp.                                             | CNX Resources Corp.                                             | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    336000 | PA      | $337261.01    | 0.05%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CNX Resources Corp.                                             | CNX Resources Corp.                                             | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    347000 | PA      | $360220.35    | 0.06%             | 2031-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| CNX Resources Corp.                                             | CNX Resources Corp.                                             | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     63000 | PA      | $65699.42     | 0.01%             | 2032-03-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CNX Midstream Partners LP                                       | CNX Midstream Partners LP                                       | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163000 | PA      | $156338.47    | 0.02%             | 2030-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP                                                   | CQP Holdco LP                                                   | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    903000 | PA      | $895633.51    | 0.14%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CVR Energy, Inc.                                                | CVR Energy, Inc.                                                | CUSIP: 12662PAD0<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    269000 | PA      | $265151.34    | 0.04%             | 2028-02-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CVR Energy, Inc.                                                | CVR Energy, Inc.                                                | CUSIP: 12662PAF5<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    214000 | PA      | $220092.79    | 0.03%             | 2029-01-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| CVR Partners LP                                                 | CVR Partners LP                                                 | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    233000 | PA      | $232371.67    | 0.04%             | 2028-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                                | CVS Health Corp.                                                | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    502000 | PA      | $520241.17    | 0.08%             | 2054-12-10      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                | CVS Health Corp.                                                | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    783000 | PA      | $823218.80    | 0.13%             | 2055-03-10      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Cable One, Inc.                                                 | Cable One, Inc.                                                 | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    280000 | PA      | $222725.30    | 0.03%             | 2030-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cablevision Lightpath LLC                                       | Cablevision Lightpath LLC                                       | CUSIP: 12687GAB5<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    359000 | PA      | $351926.55    | 0.05%             | 2028-09-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| CACI International, Inc.                                        | CACI International, Inc.                                        | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    410000 | PA      | $427426.64    | 0.07%             | 2033-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                     | Caesars Entertainment, Inc.                                     | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    670000 | PA      | $634094.16    | 0.10%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                     | Caesars Entertainment, Inc.                                     | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    884000 | PA      | $915119.45    | 0.14%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                     | Caesars Entertainment, Inc.                                     | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    965000 | PA      | $981551.68    | 0.15%             | 2032-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                     | Caesars Entertainment, Inc.                                     | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    114000 | PA      | $108759.48    | 0.02%             | 2032-10-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Calderys Financing LLC                                          | Calderys Financing LLC                                          | CUSIP: 128786AA8<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |    323000 | PA      | $343346.09    | 0.05%             | 2028-06-01      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| California Resources Corp.                                      | California Resources Corp.                                      | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    433000 | PA      | $453037.08    | 0.07%             | 2029-06-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| California Resources Corp.                                      | California Resources Corp.                                      | CUSIP: 13057QAL1<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    181000 | PA      | $180544.71    | 0.03%             | 2034-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                                   | Calpine Corp.                                                   | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    640000 | PA      | $638710.91    | 0.10%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                                   | Calpine Corp.                                                   | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    161000 | PA      | $161451.61    | 0.03%             | 2028-03-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                                   | Calpine Corp.                                                   | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    612000 | PA      | $613318.86    | 0.10%             | 2031-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                                   | Calpine Corp.                                                   | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    765000 | PA      | $738152.48    | 0.11%             | 2031-03-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP                          | Calumet Specialty Products Partners LP                          | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $117637.10    | 0.02%             | 2027-01-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP                          | Calumet Specialty Products Partners LP                          | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    234000 | PA      | $233761.32    | 0.04%             | 2028-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Camelot Return Merger Sub, Inc.                                 | Camelot Return Merger Sub, Inc.                                 | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    172000 | PA      | $143835.02    | 0.02%             | 2028-08-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Capstone Borrower, Inc.                                         | Capstone Borrower, Inc.                                         | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    428000 | PA      | $436350.55    | 0.07%             | 2030-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                  | Carnival Corp.                                                  | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    786000 | PA      | $809649.95    | 0.13%             | 2033-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                  | Carnival Corp.                                                  | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1067000 | PA      | $1096627.39   | 0.17%             | 2030-03-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                  | Carnival Corp.                                                  | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1031000 | PA      | $1061570.18   | 0.16%             | 2031-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                  | Carnival Corp.                                                  | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    164000 | PA      | $168118.53    | 0.03%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Carriage Services, Inc.                                         | Carriage Services, Inc.                                         | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212000 | PA      | $203070.61    | 0.03%             | 2029-05-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Carriage Purchaser, Inc.                                        | Carriage Purchaser, Inc.                                        | CUSIP: 14445LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     88000 | PA      | $81369.08     | 0.01%             | 2029-10-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Cars.com, Inc.                                                  | Cars.com, Inc.                                                  | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205521.52    | 0.03%             | 2028-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Carvana Co.                                                     | Carvana Co.                                                     | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   1354556 | PA      | $1523428.50   | 0.24%             | 2031-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Carvana Co.                                                     | Carvana Co.                                                     | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    433800 | PA      | $454866.20    | 0.07%             | 2030-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Cascades, Inc.                                                  | Cascades, Inc.                                                  | CUSIP: 14739LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    392000 | PA      | $392261.07    | 0.06%             | 2028-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Cascades, Inc.                                                  | Cascades, Inc.                                                  | CUSIP: 14739LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $63516.25     | 0.01%             | 2030-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                   | Six Flags Entertainment Corp.                                   | CUSIP: 150190AE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $77924.98     | 0.01%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                        | Celanese US Holdings LLC                                        | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    567000 | PA      | $583523.51    | 0.09%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                        | Celanese US Holdings LLC                                        | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    434000 | PA      | $448686.13    | 0.07%             | 2029-07-15      | Fixed         | 6.83%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                        | Celanese US Holdings LLC                                        | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1203851.34   | 0.19%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                        | Celanese US Holdings LLC                                        | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1042000 | PA      | $1080125.74   | 0.17%             | 2030-11-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                        | Celanese US Holdings LLC                                        | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    348000 | PA      | $363434.50    | 0.06%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                        | Central Garden & Pet Co.                                        | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    370000 | PA      | $354623.17    | 0.05%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                        | Central Garden & Pet Co.                                        | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    156000 | PA      | $147269.99    | 0.02%             | 2031-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Central Parent, Inc.                                            | Central Parent, Inc.                                            | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    924000 | PA      | $764055.60    | 0.12%             | 2029-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Century Aluminum Co.                                            | Century Aluminum Co.                                            | CUSIP: 156431AS7<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    173000 | PA      | $175791.70    | 0.03%             | 2032-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Century Communities, Inc.                                       | Century Communities, Inc.                                       | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    444000 | PA      | $421809.28    | 0.07%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Century Communities, Inc.                                       | Century Communities, Inc.                                       | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    192000 | PA      | $194697.22    | 0.03%             | 2033-09-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                        | Lumen Technologies, Inc., Series P                              | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    318000 | PA      | $308460.00    | 0.05%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                        | Lumen Technologies, Inc., Series U                              | CUSIP: 156700AT3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     53000 | PA      | $50747.50     | 0.01%             | 2042-03-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                        | Lumen Technologies, Inc.                                        | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    542000 | PA      | $502271.40    | 0.08%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Cerdia Finanz GmbH                                              | Cerdia Finanz GmbH                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    371000 | PA      | $382957.33    | 0.06%             | 2031-10-03      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Champ Acquisition Corp.                                         | Champ Acquisition Corp.                                         | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217000 | PA      | $230806.19    | 0.04%             | 2031-12-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Champion Iron Canada, Inc.                                      | Champion Iron Canada, Inc.                                      | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    282000 | PA      | $296982.94    | 0.05%             | 2032-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Champions Financing, Inc.                                       | Champions Financing, Inc.                                       | CUSIP: 15870LAA6<br>LEI: 391200ZDD75EGEUJ7625 | Long             | DBT              | CORP              | US        |    293000 | PA      | $292065.74    | 0.05%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                  | Charles River Laboratories International, Inc.                  | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    235000 | PA      | $232560.23    | 0.04%             | 2028-05-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                  | Charles River Laboratories International, Inc.                  | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    416000 | PA      | $393527.35    | 0.06%             | 2031-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Chart Industries, Inc.                                          | Chart Industries, Inc.                                          | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    521000 | PA      | $542850.22    | 0.08%             | 2030-01-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Chart Industries, Inc.                                          | Chart Industries, Inc.                                          | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    319000 | PA      | $340570.78    | 0.05%             | 2031-01-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Chemours Co. (The)                                              | Chemours Co. (The)                                              | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    163000 | PA      | $162983.02    | 0.03%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                              | Chemours Co. (The)                                              | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    667000 | PA      | $647355.65    | 0.10%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Chemours Co. (The)                                              | Chemours Co. (The)                                              | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    339000 | PA      | $329809.54    | 0.05%             | 2033-01-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Chobani LLC                                                     | Chobani LLC                                                     | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    685000 | PA      | $714713.25    | 0.11%             | 2029-07-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                           | Churchill Downs, Inc.                                           | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99552.77     | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                           | Churchill Downs, Inc.                                           | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    129000 | PA      | $129237.10    | 0.02%             | 2027-04-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                           | Churchill Downs, Inc.                                           | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13408.28     | 0.00%             | 2031-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Ciena Corp.                                                     | Ciena Corp.                                                     | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    170000 | PA      | $163918.45    | 0.03%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cimpress plc                                                    | Cimpress plc                                                    | CUSIP: 17186HAH5<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |    253000 | PA      | $258080.75    | 0.04%             | 2032-09-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                              | Cinemark USA, Inc.                                              | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    159000 | PA      | $158585.81    | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                              | Cinemark USA, Inc.                                              | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    415000 | PA      | $432555.33    | 0.07%             | 2032-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    205000 | PA      | $211425.32    | 0.03%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   1132000 | PA      | $1178800.28   | 0.18%             | 2031-07-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    144000 | PA      | $150848.50    | 0.02%             | 2030-11-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    199000 | PA      | $214616.13    | 0.03%             | 2033-06-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                               | Clarios Global LP                                               | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    868000 | PA      | $890400.48    | 0.14%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                               | Clarios Global LP                                               | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    578000 | PA      | $600819.44    | 0.09%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                | Clarivate Science Holdings Corp.                                | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    728000 | PA      | $704990.18    | 0.11%             | 2028-07-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                | Clarivate Science Holdings Corp.                                | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $118139.34    | 0.02%             | 2029-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Clean Harbors, Inc.                                             | Clean Harbors, Inc.                                             | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    381000 | PA      | $391594.85    | 0.06%             | 2031-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                            | Clear Channel Outdoor Holdings, Inc.                            | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1088054.55   | 0.17%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                            | Clear Channel Outdoor Holdings, Inc.                            | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    976000 | PA      | $1028316.53   | 0.16%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                            | Clear Channel Outdoor Holdings, Inc.                            | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    179000 | PA      | $188140.81    | 0.03%             | 2033-03-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Clearwater Paper Corp.                                          | Clearwater Paper Corp.                                          | CUSIP: 18538RAJ2<br>LEI: 549300HCVV19GXN4P292 | Long             | DBT              | CORP              | US        |    119000 | PA      | $110781.86    | 0.02%             | 2028-08-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                   | Clearway Energy Operating LLC                                   | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    748000 | PA      | $747821.12    | 0.12%             | 2028-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                   | Clearway Energy Operating LLC                                   | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |     84000 | PA      | $78267.95     | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                   | Clearway Energy Operating LLC                                   | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |     67000 | PA      | $61339.33     | 0.01%             | 2032-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    442000 | PA      | $419389.40    | 0.07%             | 2031-03-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    840000 | PA      | $858126.36    | 0.13%             | 2030-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    381000 | PA      | $390542.53    | 0.06%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     88000 | PA      | $90539.06     | 0.01%             | 2029-11-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    677000 | PA      | $698251.44    | 0.11%             | 2033-05-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    253000 | PA      | $264597.77    | 0.04%             | 2031-09-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    361000 | PA      | $374582.63    | 0.06%             | 2034-01-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    795000 | PA      | $820068.74    | 0.13%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1211000 | PA      | $1275664.98   | 0.20%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    457000 | PA      | $456190.70    | 0.07%             | 2033-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                           | Clydesdale Acquisition Holdings, Inc.                           | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    796000 | PA      | $805445.34    | 0.12%             | 2029-04-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                           | Clydesdale Acquisition Holdings, Inc.                           | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    411000 | PA      | $411644.86    | 0.06%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                           | Clydesdale Acquisition Holdings, Inc.                           | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    455000 | PA      | $459101.37    | 0.07%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Cobra AcquisitionCo LLC                                         | Cobra AcquisitionCo LLC                                         | CUSIP: 19106CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $140758.16    | 0.02%             | 2029-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Cobra AcquisitionCo LLC                                         | Cobra AcquisitionCo LLC                                         | CUSIP: 19106CAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $116290.00    | 0.02%             | 2029-11-01      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Coeur Mining, Inc.                                              | Coeur Mining, Inc.                                              | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |    101000 | PA      | $100499.40    | 0.02%             | 2029-02-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Cogent Communications Group LLC                                 | Cogent Communications Group LLC                                 | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    496000 | PA      | $491221.19    | 0.08%             | 2027-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Cogent Communications Group LLC                                 | Cogent Communications Group LLC                                 | CUSIP: 19240WAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $118473.60    | 0.02%             | 2032-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                           | Coinbase Global, Inc.                                           | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    214000 | PA      | $202373.85    | 0.03%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                           | Coinbase Global, Inc.                                           | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    647000 | PA      | $575185.72    | 0.09%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    441000 | PA      | $442423.11    | 0.07%             | 2029-07-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Commercial Metals Co.                                           | Commercial Metals Co.                                           | CUSIP: 201723AP8<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     88000 | PA      | $83245.55     | 0.01%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Commercial Metals Co.                                           | Commercial Metals Co.                                           | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    305000 | PA      | $292284.12    | 0.05%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CommScope LLC                                                   | CommScope, Inc.                                                 | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    149000 | PA      | $149175.08    | 0.02%             | 2028-07-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| CommScope LLC                                                   | CommScope LLC                                                   | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    274000 | PA      | $273525.98    | 0.04%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CommScope Technologies LLC                                      | CommScope Technologies LLC                                      | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    491000 | PA      | $490369.75    | 0.08%             | 2027-03-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CommScope LLC                                                   | CommScope LLC                                                   | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    289000 | PA      | $293178.94    | 0.05%             | 2031-12-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| CommScope LLC                                                   | CommScope LLC                                                   | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    622000 | PA      | $623362.18    | 0.10%             | 2027-03-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Compass Minerals International, Inc.                            | Compass Minerals International, Inc.                            | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    221000 | PA      | $220956.09    | 0.03%             | 2027-12-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Compass Minerals International, Inc.                            | Compass Minerals International, Inc.                            | CUSIP: 20451NAJ0<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |     64000 | PA      | $66627.52     | 0.01%             | 2030-07-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Compass Group Diversified Holdings LLC                          | Compass Group Diversified Holdings LLC                          | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    526007 | PA      | $491494.73    | 0.08%             | 2029-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                        | Comstock Resources, Inc.                                        | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    863000 | PA      | $838489.68    | 0.13%             | 2030-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                        | Comstock Resources, Inc.                                        | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    366000 | PA      | $363983.63    | 0.06%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Concentra Health Services, Inc.                                 | Concentra Health Services, Inc.                                 | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |    281000 | PA      | $294200.26    | 0.05%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Conduent Business Services LLC                                  | Conduent Business Services LLC                                  | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $282184.07    | 0.04%             | 2029-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Connect Finco SARL                                              | Connect Finco SARL                                              | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    974000 | PA      | $1034388.97   | 0.16%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Connect Holding II LLC                                          | Connect Holding II LLC                                          | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $952625.74    | 0.15%             | 2031-04-03      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Consensus Cloud Solutions, Inc.                                 | Consensus Cloud Solutions, Inc.                                 | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    151000 | PA      | $151551.30    | 0.02%             | 2028-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                  | Consolidated Energy Finance SA                                  | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    570000 | PA      | $387600.00    | 0.06%             | 2031-02-15      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Constellium SE                                                  | Constellium SE                                                  | CUSIP: 21039CAA2<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    322000 | PA      | $322495.24    | 0.05%             | 2028-06-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                                | Cooper-Standard Automotive, Inc.                                | CUSIP: 216762AH7<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |     88000 | PA      | $92248.55     | 0.01%             | 2027-03-31      | Fixed         | 13.50%                | Yes           |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                                | Cooper-Standard Automotive, Inc.                                | CUSIP: 216762AJ3<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |    595000 | PA      | $584019.45    | 0.09%             | 2027-05-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| CoreLogic, Inc.                                                 | CoreLogic, Inc.                                                 | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    325000 | PA      | $317297.00    | 0.05%             | 2028-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CoreCivic, Inc.                                                 | CoreCivic, Inc.                                                 | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    215000 | PA      | $226507.45    | 0.04%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                 | CoreWeave, Inc.                                                 | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   1394000 | PA      | $1286111.89   | 0.20%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                 | CoreWeave, Inc.                                                 | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    222000 | PA      | $200886.49    | 0.03%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Cornerstone Building Brands, Inc.                               | Cornerstone Building Brands, Inc.                               | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |     48000 | PA      | $24015.00     | 0.00%             | 2029-01-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Cornerstone Building Brands, Inc.                               | Cornerstone Building Brands, Inc.                               | CUSIP: 21925DAB5<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |    451000 | PA      | $362135.59    | 0.06%             | 2029-08-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Coronado Finance Pty. Ltd.                                      | Coronado Finance Pty. Ltd.                                      | CUSIP: 21979LAB2<br>LEI: 549300NS5FS0W548RE27 | Long             | DBT              | CORP              | AU        |    194000 | PA      | $179414.92    | 0.03%             | 2029-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Cougar JV Subsidiary LLC                                        | Cougar JV Subsidiary LLC                                        | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $344974.31    | 0.05%             | 2032-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Reworld Holding Corp.                                           | Reworld Holding Corp.                                           | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |     46000 | PA      | $43589.88     | 0.01%             | 2029-12-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Crane NXT Co.                                                   | Crane NXT Co.                                                   | CUSIP: 224399AT2<br>LEI: 549300EXNPSXEWUD3N21 | Long             | DBT              | CORP              | US        |    152000 | PA      | $100026.35    | 0.02%             | 2048-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Corp.                                         | Credit Acceptance Corp.                                         | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $524693.00    | 0.08%             | 2028-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Crocs, Inc.                                                     | Crocs, Inc.                                                     | CUSIP: 227046AA7<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |    211000 | PA      | $203825.13    | 0.03%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Crocs, Inc.                                                     | Crocs, Inc.                                                     | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |    134000 | PA      | $123533.45    | 0.02%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CrossCountry Intermediate HoldCo LLC                            | CrossCountry Intermediate HoldCo LLC                            | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     81000 | PA      | $82028.38     | 0.01%             | 2030-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Crowdstrike Holdings, Inc.                                      | Crowdstrike Holdings, Inc.                                      | CUSIP: 22788CAA3<br>LEI: 549300YBY08K9KM4HX32 | Long             | DBT              | CORP              | US        |    322000 | PA      | $308430.66    | 0.05%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Crown Americas LLC                                              | Crown Americas LLC                                              | CUSIP: 228180AB1<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    600000 | PA      | $612591.00    | 0.10%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Crown Americas LLC                                              | Crown Americas LLC                                              | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174036.31    | 0.03%             | 2033-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Cushman & Wakefield US Borrower LLC                             | Cushman & Wakefield US Borrower LLC                             | CUSIP: 23166MAA1<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    320000 | PA      | $323496.32    | 0.05%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Cushman & Wakefield US Borrower LLC                             | Cushman & Wakefield US Borrower LLC                             | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    136000 | PA      | $145815.12    | 0.02%             | 2031-09-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Dcli Bidco LLC                                                  | Dcli Bidco LLC                                                  | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |    217000 | PA      | $213362.73    | 0.03%             | 2029-11-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| DPL LLC                                                         | DPL LLC                                                         | CUSIP: 233293AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $113859.75    | 0.02%             | 2029-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Dana, Inc.                                                      | Dana, Inc.                                                      | CUSIP: 235825AF3<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    128000 | PA      | $128253.95    | 0.02%             | 2027-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Dana, Inc.                                                      | Dana, Inc.                                                      | CUSIP: 235825AG1<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    434000 | PA      | $434199.64    | 0.07%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Dana, Inc.                                                      | Dana, Inc.                                                      | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     73000 | PA      | $71905.35     | 0.01%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Danaos Corp.                                                    | Danaos Corp.                                                    | CUSIP: 23585WAA2<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |    123000 | PA      | $124145.50    | 0.02%             | 2028-03-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Danaos Corp.                                                    | Danaos Corp.                                                    | CUSIP: 23585WAC8<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |    281000 | PA      | $285994.21    | 0.04%             | 2032-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                       | Darling Ingredients, Inc.                                       | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    586000 | PA      | $586133.61    | 0.09%             | 2027-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                       | Darling Ingredients, Inc.                                       | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |     87000 | PA      | $88347.28     | 0.01%             | 2030-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                                    | DaVita, Inc.                                                    | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    816000 | PA      | $791469.16    | 0.12%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                                    | DaVita, Inc.                                                    | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1134000 | PA      | $1051566.93   | 0.16%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                                    | DaVita, Inc.                                                    | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    366000 | PA      | $380833.25    | 0.06%             | 2032-09-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                                    | DaVita, Inc.                                                    | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    419000 | PA      | $435389.19    | 0.07%             | 2033-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dealer Tire LLC                                                 | Dealer Tire LLC                                                 | CUSIP: 24229JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    216000 | PA      | $213951.39    | 0.03%             | 2028-02-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Delek Logistics Partners LP                                     | Delek Logistics Partners LP                                     | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $186054.32    | 0.03%             | 2028-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Delek Logistics Partners LP                                     | Delek Logistics Partners LP                                     | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    791000 | PA      | $829091.40    | 0.13%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Deluxe Corp.                                                    | Deluxe Corp.                                                    | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    432000 | PA      | $436905.36    | 0.07%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Deluxe Corp.                                                    | Deluxe Corp.                                                    | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     82000 | PA      | $86375.27     | 0.01%             | 2029-09-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| DENTSPLY SIRONA, Inc.                                           | DENTSPLY SIRONA, Inc.                                           | CUSIP: 24906PAB5<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    321000 | PA      | $303257.14    | 0.05%             | 2055-09-12      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| Diamond Foreign Asset Co.                                       | Diamond Foreign Asset Co.                                       | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    238000 | PA      | $253164.65    | 0.04%             | 2030-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Diebold Nixdorf, Inc.                                           | Diebold Nixdorf, Inc.                                           | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |    411000 | PA      | $436366.92    | 0.07%             | 2030-03-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                           | Directv Financing LLC                                           | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1672000 | PA      | $1672493.24   | 0.26%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                           | Directv Financing LLC                                           | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51000 | PA      | $50633.12     | 0.01%             | 2030-02-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                           | Directv Financing LLC                                           | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    905000 | PA      | $898962.65    | 0.14%             | 2031-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Discovery Communications LLC                                    | Discovery Communications LLC                                    | CUSIP: 25470DBS7<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9795.15      | 0.00%             | 2028-03-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Discovery Communications LLC                                    | Discovery Communications LLC                                    | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   1059000 | PA      | $982222.50    | 0.15%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                              | DISH Network Corp.                                              | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1143409.95   | 0.18%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                  | DISH DBS Corp.                                                  | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    221000 | PA      | $216361.25    | 0.03%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                  | DISH DBS Corp.                                                  | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    749000 | PA      | $698217.58    | 0.11%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                  | DISH DBS Corp.                                                  | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    362000 | PA      | $306385.07    | 0.05%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                  | DISH DBS Corp.                                                  | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1541000 | PA      | $1505453.14   | 0.23%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                  | DISH DBS Corp.                                                  | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1126000 | PA      | $1088099.07   | 0.17%             | 2028-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Diversified Healthcare Trust                                    | Diversified Healthcare Trust                                    | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    218000 | PA      | $191868.67    | 0.03%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Diversified Healthcare Trust                                    | Diversified Healthcare Trust                                    | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $142311.40    | 0.02%             | 2030-10-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| RR Donnelley & Sons Co.                                         | RR Donnelley & Sons Co.                                         | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    433000 | PA      | $445132.66    | 0.07%             | 2029-08-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| RR Donnelley & Sons Co.                                         | RR Donnelley & Sons Co.                                         | CUSIP: 257867BK6<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    282000 | PA      | $284517.98    | 0.04%             | 2029-08-01      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                   | Dornoch Debt Merger Sub, Inc.                                   | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    383000 | PA      | $322436.25    | 0.05%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Dotdash Meredith, Inc.                                          | Dotdash Meredith, Inc.                                          | CUSIP: 25849JAA8<br>LEI: 549300R2AA7U9CJUQO13 | Long             | DBT              | CORP              | US        |    190000 | PA      | $172079.20    | 0.03%             | 2032-06-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Dream Finders Homes, Inc.                                       | Dream Finders Homes, Inc.                                       | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $108611.73    | 0.02%             | 2028-08-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Dresdner Funding Trust I                                        | Dresdner Funding Trust I                                        | CUSIP: 26156FAA1<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |    465000 | PA      | $510968.65    | 0.08%             | 2031-06-30      | Fixed         | 8.15%                 | Yes           |                  2 | On Loan: No      |
| Dycom Industries, Inc.                                          | Dycom Industries, Inc.                                          | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |    211000 | PA      | $208181.27    | 0.03%             | 2029-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Dye & Durham Ltd.                                               | Dye & Durham Ltd.                                               | CUSIP: 267486AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    315000 | PA      | $288902.09    | 0.04%             | 2029-04-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| EMRLD Borrower LP                                               | EMRLD Borrower LP                                               | CUSIP: 26873CAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    327000 | PA      | $342268.61    | 0.05%             | 2031-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    163000 | PA      | $165084.61    | 0.03%             | 2027-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    196000 | PA      | $211187.26    | 0.03%             | 2031-07-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| EchoStar Corp.                                                  | EchoStar Corp.                                                  | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    775602 | PA      | $805493.70    | 0.12%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                                  | EchoStar Corp.                                                  | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   2769000 | PA      | $3052822.50   | 0.47%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                      | Edgewell Personal Care Co.                                      | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    137000 | PA      | $136712.67    | 0.02%             | 2028-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                      | Edgewell Personal Care Co.                                      | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    416000 | PA      | $392017.48    | 0.06%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Edison International                                            | Edison International                                            | CUSIP: 281020AZ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    223000 | PA      | $231934.05    | 0.04%             | 2054-06-15      | Variable      | 7.88%                 | No            |                  2 | On Loan: No      |
| Efesto Bidco SpA Efesto US LLC                                  | Efesto Bidco SpA Efesto US LLC, Series XR                       | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    538000 | PA      | $546465.43    | 0.08%             | 2032-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| EG Global Finance plc                                           | EG Global Finance plc                                           | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    505000 | PA      | $550133.37    | 0.09%             | 2028-11-30      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                                      | Elanco Animal Health, Inc.                                      | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    317000 | PA      | $332257.84    | 0.05%             | 2028-08-28      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Elastic NV                                                      | Elastic NV                                                      | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    322000 | PA      | $310539.44    | 0.05%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                             | Eldorado Gold Corp.                                             | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $216075.00    | 0.03%             | 2029-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Element Solutions, Inc.                                         | Element Solutions, Inc.                                         | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    346000 | PA      | $338325.93    | 0.05%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                                         | Ellucian Holdings, Inc.                                         | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |    303000 | PA      | $307137.16    | 0.05%             | 2029-12-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Embarq LLC                                                      | Embarq LLC                                                      | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    490000 | PA      | $193706.80    | 0.03%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Embecta Corp.                                                   | Embecta Corp.                                                   | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    217000 | PA      | $206825.11    | 0.03%             | 2030-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Emera, Inc.                                                     | Emera, Inc., Series 16-A                                        | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |     46000 | PA      | $46336.58     | 0.01%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Emergent BioSolutions, Inc.                                     | Emergent BioSolutions, Inc.                                     | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |    192000 | PA      | $171350.42    | 0.03%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| EMRLD Borrower LP                                               | EMRLD Borrower LP                                               | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1086000 | PA      | $1125479.36   | 0.17%             | 2030-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Empire Communities Corp.                                        | Empire Communities Corp.                                        | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |    204000 | PA      | $205020.00    | 0.03%             | 2029-05-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Encore Capital Group, Inc.                                      | Encore Capital Group, Inc.                                      | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    272000 | PA      | $286286.94    | 0.04%             | 2029-04-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Encore Capital Group, Inc.                                      | Encore Capital Group, Inc.                                      | CUSIP: 292554AR3<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    210000 | PA      | $223497.12    | 0.03%             | 2030-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Encompass Health Corp.                                          | Encompass Health Corp.                                          | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    452000 | PA      | $451166.15    | 0.07%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                          | Encompass Health Corp.                                          | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    471000 | PA      | $464460.40    | 0.07%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Enerflex Ltd.                                                   | Enerflex Ltd.                                                   | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |    313000 | PA      | $319726.06    | 0.05%             | 2027-10-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                        | Energizer Holdings, Inc.                                        | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    483000 | PA      | $476990.71    | 0.07%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                        | Energizer Holdings, Inc.                                        | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    268000 | PA      | $254963.17    | 0.04%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                              | Energy Transfer LP                                              | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    528000 | PA      | $562995.84    | 0.09%             | 2054-05-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                              | Energy Transfer LP                                              | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    752000 | PA      | $765170.53    | 0.12%             | 2054-10-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                              | Energy Transfer LP                                              | CUSIP: 29273VBH2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    111000 | PA      | $110451.44    | 0.02%             | 2056-02-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| EnerSys                                                         | EnerSys                                                         | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    118000 | PA      | $117191.58    | 0.02%             | 2027-12-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| EnerSys                                                         | EnerSys                                                         | CUSIP: 29275YAF9<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    141000 | PA      | $146530.44    | 0.02%             | 2032-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Endo Finance Holdings, Inc.                                     | Endo Finance Holdings, Inc.                                     | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    477000 | PA      | $496211.65    | 0.08%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Enpro, Inc.                                                     | Enpro, Inc.                                                     | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    192000 | PA      | $198336.38    | 0.03%             | 2033-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| EnQuest plc                                                     | EnQuest plc                                                     | CUSIP: 29357JAC0<br>LEI: 2138008LJU6WFQWOXJ73 | Long             | DBT              | CORP              | GB        |    270000 | PA      | $273216.51    | 0.04%             | 2027-11-01      | Fixed         | 11.62%                | Yes           |                  2 | On Loan: No      |
| Enova International, Inc.                                       | Enova International, Inc.                                       | CUSIP: 29357KAH6<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    428000 | PA      | $455815.72    | 0.07%             | 2028-12-15      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| Enova International, Inc.                                       | Enova International, Inc.                                       | CUSIP: 29357KAK9<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |     58000 | PA      | $61271.26     | 0.01%             | 2029-08-01      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Entegris, Inc.                                                  | Entegris, Inc.                                                  | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    352000 | PA      | $348581.20    | 0.05%             | 2028-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Entegris, Inc.                                                  | Entegris, Inc.                                                  | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1082878.83   | 0.17%             | 2029-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                        | EquipmentShare.com, Inc.                                        | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    555000 | PA      | $566464.08    | 0.09%             | 2028-05-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                        | EquipmentShare.com, Inc.                                        | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     61000 | PA      | $62736.12     | 0.01%             | 2032-05-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                        | EquipmentShare.com, Inc.                                        | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    399000 | PA      | $406713.07    | 0.06%             | 2033-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Esab Corp.                                                      | Esab Corp.                                                      | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |    303000 | PA      | $312149.09    | 0.05%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EUSHI Finance, Inc.                                             | EUSHI Finance, Inc.                                             | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    601000 | PA      | $633002.76    | 0.10%             | 2054-12-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| SK Invictus Intermediate II SARL                                | SK Invictus Intermediate II SARL                                | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    292000 | PA      | $287385.67    | 0.04%             | 2029-10-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Excelerate Energy LP                                            | Excelerate Energy LP                                            | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    415000 | PA      | $442139.76    | 0.07%             | 2030-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| EZCORP, Inc.                                                    | EZCORP, Inc.                                                    | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    130000 | PA      | $136286.02    | 0.02%             | 2032-04-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| FMC Corp.                                                       | FMC Corp.                                                       | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    556000 | PA      | $432708.56    | 0.07%             | 2055-11-01      | Variable      | 8.45%                 | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                    | Fortescue Treasury Pty. Ltd.                                    | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    356000 | PA      | $354891.42    | 0.06%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                    | Fortescue Treasury Pty. Ltd.                                    | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    236000 | PA      | $227643.42    | 0.04%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                    | Fortescue Treasury Pty. Ltd.                                    | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    529000 | PA      | $546420.28    | 0.08%             | 2030-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                    | Fortescue Treasury Pty. Ltd.                                    | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    135000 | PA      | $140909.76    | 0.02%             | 2032-04-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Fair Isaac Corp.                                                | Fair Isaac Corp.                                                | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   1064000 | PA      | $1048801.50   | 0.16%             | 2028-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Forvia SE                                                       | Forvia SE                                                       | CUSIP: 31209DAA3<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    212000 | PA      | $225850.60    | 0.04%             | 2030-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Ferrellgas LP                                                   | Ferrellgas LP                                                   | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    353000 | PA      | $337204.34    | 0.05%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ferrellgas LP                                                   | Ferrellgas LP                                                   | CUSIP: 315292AU6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    581000 | PA      | $586796.64    | 0.09%             | 2031-01-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                      | Fertitta Entertainment LLC                                      | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    463000 | PA      | $445940.58    | 0.07%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                      | Fertitta Entertainment LLC                                      | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    579000 | PA      | $540001.86    | 0.08%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Fidelis Insurance Holdings Ltd.                                 | Fidelis Insurance Holdings Ltd.                                 | CUSIP: 31575FAC0<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | DBT              | CORP              | BM        |    235000 | PA      | $254195.74    | 0.04%             | 2055-06-15      | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| Fiesta Purchaser, Inc.                                          | Fiesta Purchaser, Inc.                                          | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422000 | PA      | $443906.44    | 0.07%             | 2031-03-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| FirstCash, Inc.                                                 | FirstCash, Inc.                                                 | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110689.15    | 0.02%             | 2030-01-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                       | First Student Bidco, Inc.                                       | CUSIP: 337120AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    278000 | PA      | $271483.87    | 0.04%             | 2029-07-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FirstCash, Inc.                                                 | FirstCash, Inc.                                                 | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    473000 | PA      | $468340.81    | 0.07%             | 2028-09-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FirstCash, Inc.                                                 | FirstCash, Inc.                                                 | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |     97000 | PA      | $100859.92    | 0.02%             | 2032-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Five Point Operating Co. LP                                     | Five Point Operating Co. LP                                     | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $26100.60     | 0.00%             | 2030-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Fluor Corp.                                                     | Fluor Corp.                                                     | CUSIP: 343412AF9<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |    258000 | PA      | $257315.91    | 0.04%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Focus Financial Partners LLC                                    | Focus Financial Partners LLC                                    | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    478000 | PA      | $493852.39    | 0.08%             | 2031-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Forestar Group, Inc.                                            | Forestar Group, Inc.                                            | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    159000 | PA      | $158454.73    | 0.02%             | 2028-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Forestar Group, Inc.                                            | Forestar Group, Inc.                                            | CUSIP: 346232AG6<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    221000 | PA      | $227469.33    | 0.04%             | 2033-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                     | FTAI Aviation Investors LLC                                     | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    403000 | PA      | $404564.85    | 0.06%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                     | FTAI Aviation Investors LLC                                     | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    108000 | PA      | $114982.85    | 0.02%             | 2030-12-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                     | FTAI Aviation Investors LLC                                     | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    808000 | PA      | $846420.40    | 0.13%             | 2031-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                     | FTAI Aviation Investors LLC                                     | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    298000 | PA      | $312542.10    | 0.05%             | 2032-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Fortrea Holdings, Inc.                                          | Fortrea Holdings, Inc.                                          | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |    230000 | PA      | $230874.92    | 0.04%             | 2030-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Fortress Intermediate 3, Inc.                                   | Fortress Intermediate 3, Inc.                                   | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |    416000 | PA      | $434067.71    | 0.07%             | 2031-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| FXI Holdings, Inc.                                              | FXI Holdings, Inc.                                              | CUSIP: 35166FAA0<br>LEI: 549300VLKCUZW3MSVS50 | Long             | DBT              | CORP              | US        |    447000 | PA      | $383302.50    | 0.06%             | 2026-11-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Corp.                                          | Freedom Mortgage Corp.                                          | CUSIP: 35640YAL1<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    543000 | PA      | $602718.05    | 0.09%             | 2030-10-01      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                   | Freedom Mortgage Holdings LLC                                   | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    518000 | PA      | $543058.14    | 0.08%             | 2029-02-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                   | Freedom Mortgage Holdings LLC                                   | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    244000 | PA      | $261082.68    | 0.04%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                   | Freedom Mortgage Holdings LLC                                   | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    159000 | PA      | $167018.37    | 0.03%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                   | Freedom Mortgage Holdings LLC                                   | CUSIP: 35641AAD0<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    299000 | PA      | $308997.96    | 0.05%             | 2033-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Froneri Lux FinCo. SARL                                         | Froneri Lux FinCo. SARL                                         | CUSIP: 35901MAA5<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    265000 | PA      | $267450.46    | 0.04%             | 2032-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                            | Frontier Communications Holdings LLC                            | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11038.76     | 0.00%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                            | Frontier Communications Holdings LLC                            | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1224000 | PA      | $1235481.12   | 0.19%             | 2029-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                            | Frontier Communications Holdings LLC                            | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    439000 | PA      | $445705.29    | 0.07%             | 2030-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                            | Frontier Communications Holdings LLC                            | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1009000 | PA      | $1054856.02   | 0.16%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                            | Frontier Communications Holdings LLC                            | CUSIP: 35908MAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    241000 | PA      | $254544.44    | 0.04%             | 2031-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Full House Resorts, Inc.                                        | Full House Resorts, Inc.                                        | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |    217000 | PA      | $187705.00    | 0.03%             | 2028-02-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| HB Fuller Co.                                                   | HB Fuller Co.                                                   | CUSIP: 359694AB2<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    102000 | PA      | $101243.88    | 0.02%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEO Group, Inc. (The)                                           | GEO Group, Inc. (The)                                           | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63225.00     | 0.01%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GEO Group, Inc. (The)                                           | GEO Group, Inc. (The)                                           | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    584000 | PA      | $640821.99    | 0.10%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| GCI LLC                                                         | GCI LLC                                                         | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    333000 | PA      | $322690.85    | 0.05%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                         | GFL Environmental, Inc.                                         | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    629000 | PA      | $616685.75    | 0.10%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                         | GFL Environmental, Inc.                                         | CUSIP: 36168QAN4<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    376000 | PA      | $375574.44    | 0.06%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                         | GFL Environmental, Inc.                                         | CUSIP: 36168QAP9<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    189000 | PA      | $186281.52    | 0.03%             | 2029-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                         | GFL Environmental, Inc.                                         | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    383000 | PA      | $402082.21    | 0.06%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GGAM Finance Ltd.                                               | GGAM Finance Ltd.                                               | CUSIP: 36170JAC0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    753000 | PA      | $770236.17    | 0.12%             | 2027-02-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| GGAM Finance Ltd.                                               | GGAM Finance Ltd.                                               | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    159000 | PA      | $164983.17    | 0.03%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Frontier Florida LLC                                            | Frontier Florida LLC, Series E                                  | CUSIP: 362333AH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    336000 | PA      | $348180.00    | 0.05%             | 2028-02-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Clue Opco LLC                                                   | Clue Opco LLC                                                   | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    391000 | PA      | $404844.92    | 0.06%             | 2031-10-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                        | Boost Newco Borrower LLC                                        | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    807000 | PA      | $856993.65    | 0.13%             | 2031-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Gap, Inc. (The)                                                 | Gap, Inc. (The)                                                 | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    332000 | PA      | $314927.60    | 0.05%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Gap, Inc. (The)                                                 | Gap, Inc. (The)                                                 | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    316000 | PA      | $293092.97    | 0.05%             | 2031-10-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                      | Garda World Security Corp.                                      | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    311000 | PA      | $305349.41    | 0.05%             | 2029-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                      | Garda World Security Corp.                                      | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     44000 | PA      | $45109.33     | 0.01%             | 2028-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                      | Garda World Security Corp.                                      | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    866000 | PA      | $885240.79    | 0.14%             | 2032-08-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                      | Garda World Security Corp.                                      | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    101000 | PA      | $103548.13    | 0.02%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Neogen Food Safety Corp.                                        | Neogen Food Safety Corp.                                        | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $255502.32    | 0.04%             | 2030-07-20      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Garrett Motion Holdings, Inc.                                   | Garrett Motion Holdings, Inc.                                   | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    343000 | PA      | $362414.14    | 0.06%             | 2032-05-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Gates Corp.                                                     | Gates Corp.                                                     | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    223000 | PA      | $232392.31    | 0.04%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Genesee & Wyoming, Inc.                                         | Genesee & Wyoming, Inc.                                         | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |    303000 | PA      | $311566.72    | 0.05%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                               | Genesis Energy LP                                               | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    111000 | PA      | $111745.37    | 0.02%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                               | Genesis Energy LP                                               | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $496523.51    | 0.08%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                               | Genesis Energy LP                                               | CUSIP: 37185LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    119000 | PA      | $124291.54    | 0.02%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                               | Genesis Energy LP                                               | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    509000 | PA      | $525049.79    | 0.08%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                               | Genesis Energy LP                                               | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $120703.87    | 0.02%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Genting New York LLC                                            | Genting New York LLC                                            | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $206772.02    | 0.03%             | 2029-10-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Getty Images, Inc.                                              | Getty Images, Inc.                                              | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    489000 | PA      | $469461.37    | 0.07%             | 2030-02-21      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| Getty Images, Inc.                                              | Getty Images, Inc.                                              | CUSIP: 374276AP8<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    242000 | PA      | $229900.00    | 0.04%             | 2028-03-01      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| Wrangler Holdco Corp.                                           | Wrangler Holdco Corp.                                           | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $86062.36     | 0.01%             | 2032-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Magnera Corp.                                                   | Magnera Corp.                                                   | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |     43000 | PA      | $38894.03     | 0.01%             | 2029-11-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Global Partners LP                                              | Global Partners LP                                              | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57000 | PA      | $57689.81     | 0.01%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Global Partners LP                                              | Global Partners LP                                              | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $550471.43    | 0.09%             | 2032-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Global Medical Response, Inc.                                   | Global Medical Response, Inc.                                   | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    315000 | PA      | $331884.22    | 0.05%             | 2032-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Global Aircraft Leasing Co. Ltd.                                | Global Aircraft Leasing Co. Ltd.                                | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    575000 | PA      | $591439.25    | 0.09%             | 2027-09-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                           | Global Infrastructure Solutions, Inc.                           | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |    239000 | PA      | $239803.28    | 0.04%             | 2029-06-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                           | Global Infrastructure Solutions, Inc.                           | CUSIP: 37960XAB3<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |     66000 | PA      | $69377.09     | 0.01%             | 2032-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                                      | Go Daddy Operating Co. LLC                                      | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    640000 | PA      | $612483.65    | 0.09%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Goat Holdco LLC                                                 | Goat Holdco LLC                                                 | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338000 | PA      | $346652.80    | 0.05%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| goeasy Ltd.                                                     | goeasy Ltd.                                                     | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $180216.58    | 0.03%             | 2028-12-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| goeasy Ltd.                                                     | goeasy Ltd.                                                     | CUSIP: 380355AJ6<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |     46000 | PA      | $45610.81     | 0.01%             | 2029-07-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| goeasy Ltd.                                                     | goeasy Ltd.                                                     | CUSIP: 380355AM9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    230000 | PA      | $220169.80    | 0.03%             | 2030-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| goeasy Ltd.                                                     | goeasy Ltd.                                                     | CUSIP: 380355AN7<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    693000 | PA      | $670712.36    | 0.10%             | 2030-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Golar LNG Ltd.                                                  | Golar LNG Ltd.                                                  | CUSIP: 38046YAE1<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $194438.00    | 0.03%             | 2030-10-02      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                | Goodyear Tire & Rubber Co. (The)                                | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    907000 | PA      | $904532.42    | 0.14%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                | Goodyear Tire & Rubber Co. (The)                                | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     62000 | PA      | $58397.49     | 0.01%             | 2033-04-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                | Goodyear Tire & Rubber Co. (The)                                | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    729000 | PA      | $708249.38    | 0.11%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GoTo Group, Inc.                                                | GoTo Group, Inc.                                                | CUSIP: 38349YAB1<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |    474000 | PA      | $169455.00    | 0.03%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| GrafTech Finance, Inc.                                          | GrafTech Finance, Inc.                                          | CUSIP: 384311AC0<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | DBT              | CORP              | US        |    461000 | PA      | $339411.25    | 0.05%             | 2029-12-23      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| GrafTech Global Enterprises, Inc.                               | GrafTech Global Enterprises, Inc.                               | CUSIP: 38431AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $144211.10    | 0.02%             | 2029-12-23      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Graham Packaging Co., Inc.                                      | Graham Packaging Co., Inc.                                      | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    247000 | PA      | $246437.66    | 0.04%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                             | Graphic Packaging International LLC                             | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    139000 | PA      | $134272.94    | 0.02%             | 2028-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                             | Graphic Packaging International LLC                             | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    103000 | PA      | $98224.74     | 0.02%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                             | Graphic Packaging International LLC                             | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    699000 | PA      | $710816.16    | 0.11%             | 2032-07-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    918000 | PA      | $690386.12    | 0.11%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    626000 | PA      | $483057.16    | 0.07%             | 2030-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    754000 | PA      | $812591.83    | 0.13%             | 2029-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     84000 | PA      | $87058.44     | 0.01%             | 2032-07-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13022.49     | 0.00%             | 2033-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Great Canadian Gaming Corp.                                     | Great Canadian Gaming Corp.                                     | CUSIP: 389925AA6<br>LEI: 549300FU60SSFLTE0M84 | Long             | DBT              | CORP              | US        |    302000 | PA      | $304519.59    | 0.05%             | 2029-11-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Great Lakes Dredge & Dock Corp.                                 | Great Lakes Dredge & Dock Corp.                                 | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |    141000 | PA      | $137317.50    | 0.02%             | 2029-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Greystar Real Estate Partners LLC                               | Greystar Real Estate Partners LLC                               | CUSIP: 39807UAD8<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    195000 | PA      | $206970.66    | 0.03%             | 2030-09-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Griffon Corp.                                                   | Griffon Corp.                                                   | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |    440000 | PA      | $440536.80    | 0.07%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Grifols SA                                                      | Grifols SA                                                      | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    339000 | PA      | $331425.49    | 0.05%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                        | Group 1 Automotive, Inc.                                        | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    556000 | PA      | $544650.15    | 0.08%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Gulfport Energy Operating Corp.                                 | Gulfport Energy Operating Corp.                                 | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    289000 | PA      | $298333.03    | 0.05%             | 2029-09-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HLF Financing SARL LLC                                          | HLF Financing SARL LLC                                          | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    273000 | PA      | $255168.38    | 0.04%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| HLF Financing Sarl LLC                                          | HLF Financing Sarl LLC                                          | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    410000 | PA      | $441749.99    | 0.07%             | 2029-04-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| HB Fuller Co.                                                   | HB Fuller Co.                                                   | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    178000 | PA      | $173069.40    | 0.03%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HTA Group Ltd.                                                  | HTA Group Ltd.                                                  | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    413000 | PA      | $428231.44    | 0.07%             | 2029-06-04      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| HAH Group Holding Co. LLC                                       | HAH Group Holding Co. LLC                                       | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |    309000 | PA      | $291461.41    | 0.05%             | 2031-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Hanesbrands, Inc.                                               | Hanesbrands, Inc.                                               | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    260000 | PA      | $273894.14    | 0.04%             | 2031-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Harrow, Inc.                                                    | Harrow, Inc.                                                    | CUSIP: 415858AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112000 | PA      | $117495.00    | 0.02%             | 2030-09-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Enviri Corp.                                                    | Enviri Corp.                                                    | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |    204000 | PA      | $204249.08    | 0.03%             | 2027-07-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Harvest Midstream I LP                                          | Harvest Midstream I LP                                          | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |    551000 | PA      | $558806.02    | 0.09%             | 2028-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Harvest Midstream I LP                                          | Harvest Midstream I LP                                          | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20782.58     | 0.00%             | 2032-05-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Hawaiian Electric Co., Inc.                                     | Hawaiian Electric Co., Inc.                                     | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25313.40     | 0.00%             | 2033-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| HealthEquity, Inc.                                              | HealthEquity, Inc.                                              | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    260000 | PA      | $255485.62    | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Hecla Mining Co.                                                | Hecla Mining Co.                                                | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    126000 | PA      | $126620.17    | 0.02%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Helix Energy Solutions Group, Inc.                              | Helix Energy Solutions Group, Inc.                              | CUSIP: 42330PAL1<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | DBT              | CORP              | US        |    196000 | PA      | $205792.55    | 0.03%             | 2029-03-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                             | Herc Holdings, Inc.                                             | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    379000 | PA      | $378950.20    | 0.06%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                             | Herc Holdings, Inc.                                             | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    452000 | PA      | $468767.39    | 0.07%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                             | Herc Holdings, Inc.                                             | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    564000 | PA      | $592048.85    | 0.09%             | 2030-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                             | Herc Holdings, Inc.                                             | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    770000 | PA      | $815159.73    | 0.13%             | 2033-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Herens Holdco SARL                                              | Herens Holdco SARL                                              | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |    273000 | PA      | $237504.68    | 0.04%             | 2028-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                               | Hertz Corp. (The)                                               | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    106000 | PA      | $103235.06    | 0.02%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                               | Hertz Corp. (The)                                               | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     87000 | PA      | $59876.58     | 0.01%             | 2029-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                               | Hertz Corp. (The)                                               | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    878000 | PA      | $877197.68    | 0.14%             | 2029-07-15      | Fixed         | 12.62%                | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                    | Hess Midstream Operations LP                                    | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    153000 | PA      | $154595.03    | 0.02%             | 2030-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                    | Hess Midstream Operations LP                                    | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $324920.61    | 0.05%             | 2029-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                    | Hess Midstream Operations LP                                    | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $46774.09     | 0.01%             | 2028-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                    | Hess Midstream Operations LP                                    | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    817000 | PA      | $817159.32    | 0.13%             | 2028-06-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Hightower Holding LLC                                           | Hightower Holding LLC                                           | CUSIP: 43118DAA8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |    141000 | PA      | $141143.68    | 0.02%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Hightower Holding LLC                                           | Hightower Holding LLC                                           | CUSIP: 43118DAB6<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |    163000 | PA      | $173249.28    | 0.03%             | 2030-01-31      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                             | Hilcorp Energy I LP                                             | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    514000 | PA      | $516390.10    | 0.08%             | 2028-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                             | Hilcorp Energy I LP                                             | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $125732.08    | 0.02%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                             | Hilcorp Energy I LP                                             | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1108000 | PA      | $1042713.98   | 0.16%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                             | Hilcorp Energy I LP                                             | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $46136.21     | 0.01%             | 2033-11-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                             | Hilcorp Energy I LP                                             | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $89954.23     | 0.01%             | 2034-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                             | Hilcorp Energy I LP                                             | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310000 | PA      | $294891.44    | 0.05%             | 2035-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                               | Hillenbrand, Inc.                                               | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |     89000 | PA      | $89038.27     | 0.01%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                               | Hillenbrand, Inc.                                               | CUSIP: 431571AF5<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |    277000 | PA      | $283638.86    | 0.04%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    545000 | PA      | $546193.55    | 0.08%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    861000 | PA      | $835352.62    | 0.13%             | 2029-05-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    613000 | PA      | $585463.43    | 0.09%             | 2031-05-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1105846.89   | 0.17%             | 2032-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    207000 | PA      | $212001.53    | 0.03%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    467000 | PA      | $481544.72    | 0.07%             | 2033-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Borrower LLC                             | Hilton Grand Vacations Borrower LLC                             | CUSIP: 43283QAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $328974.85    | 0.05%             | 2032-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Borrower LLC                             | Hilton Grand Vacations Borrower LLC                             | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    761000 | PA      | $704844.36    | 0.11%             | 2031-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Hologic, Inc.                                                   | Hologic, Inc.                                                   | CUSIP: 436440AM3<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    147000 | PA      | $147124.22    | 0.02%             | 2028-02-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Hologic, Inc.                                                   | Hologic, Inc.                                                   | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    437000 | PA      | $431740.88    | 0.07%             | 2029-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                        | Service Properties Trust                                        | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    138000 | PA      | $137699.12    | 0.02%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                        | Service Properties Trust                                        | CUSIP: 44106MAY8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    487000 | PA      | $400645.60    | 0.06%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                        | Service Properties Trust                                        | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    156000 | PA      | $132487.98    | 0.02%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Howard Hughes Corp. (The)                                       | Howard Hughes Corp. (The)                                       | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    622000 | PA      | $623179.31    | 0.10%             | 2028-08-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Howard Hughes Corp. (The)                                       | Howard Hughes Corp. (The)                                       | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    238000 | PA      | $231042.00    | 0.04%             | 2029-02-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Howard Hughes Corp. (The)                                       | Howard Hughes Corp. (The)                                       | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     73000 | PA      | $69741.80     | 0.01%             | 2031-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Howard Midstream Energy Partners LLC                            | Howard Midstream Energy Partners LLC                            | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    361000 | PA      | $381030.94    | 0.06%             | 2032-07-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Howard Midstream Energy Partners LLC                            | Howard Midstream Energy Partners LLC                            | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    299000 | PA      | $306519.52    | 0.05%             | 2034-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Howden UK Refinance plc                                         | Howden UK Refinance plc                                         | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    666000 | PA      | $682843.81    | 0.11%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                          | HUB International Ltd.                                          | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    141000 | PA      | $140998.56    | 0.02%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                          | HUB International Ltd.                                          | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1441000 | PA      | $1509858.19   | 0.23%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                          | HUB International Ltd.                                          | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    869000 | PA      | $904197.11    | 0.14%             | 2032-01-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Hudbay Minerals, Inc.                                           | Hudbay Minerals, Inc.                                           | CUSIP: 443628AH5<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |    184000 | PA      | $186389.61    | 0.03%             | 2029-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Hudson Pacific Properties LP                                    | Hudson Pacific Properties LP                                    | CUSIP: 44409MAA4<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    127000 | PA      | $121114.71    | 0.02%             | 2027-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Hudson Pacific Properties LP                                    | Hudson Pacific Properties LP                                    | CUSIP: 44409MAB2<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    203000 | PA      | $186861.50    | 0.03%             | 2029-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Hudson Pacific Properties LP                                    | Hudson Pacific Properties LP                                    | CUSIP: 44409MAC0<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21053.77     | 0.00%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Hudson Pacific Properties LP                                    | Hudson Pacific Properties LP                                    | CUSIP: 44409MAD8<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    421000 | PA      | $410813.82    | 0.06%             | 2028-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Hunt Cos., Inc.                                                 | Hunt Cos., Inc.                                                 | CUSIP: 445587AE8<br>LEI: 549300ODPWDNCH5TKM49 | Long             | DBT              | CORP              | US        |    275000 | PA      | $268592.31    | 0.04%             | 2029-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Huntsman International LLC                                      | Huntsman International LLC                                      | CUSIP: 44701QBF8<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    468000 | PA      | $389936.75    | 0.06%             | 2031-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Huntsman International LLC                                      | Huntsman International LLC                                      | CUSIP: 44701QBG6<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    310000 | PA      | $278341.81    | 0.04%             | 2034-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Husky Injection Molding Systems Ltd.                            | Husky Injection Molding Systems Ltd.                            | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    468000 | PA      | $492570.00    | 0.08%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                            | IHO Verwaltungs GmbH                                            | CUSIP: 44963BAG3<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    684000 | PA      | $712569.31    | 0.11%             | 2032-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SAS                                               | Iliad Holding SAS                                               | CUSIP: 449691AC8<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    631000 | PA      | $639984.81    | 0.10%             | 2028-10-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SAS                                               | Iliad Holding SAS                                               | CUSIP: 449691AG9<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    697000 | PA      | $718491.30    | 0.11%             | 2032-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| INEOS Finance plc                                               | INEOS Finance plc                                               | CUSIP: 44984WAJ6<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |    579000 | PA      | $519660.49    | 0.08%             | 2029-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ITT Holdings LLC                                                | ITT Holdings LLC                                                | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    565000 | PA      | $547638.82    | 0.08%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| IAMGOLD Corp.                                                   | IAMGOLD Corp.                                                   | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |    201000 | PA      | $199876.41    | 0.03%             | 2028-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Icahn Enterprises LP                                            | Icahn Enterprises LP                                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    870000 | PA      | $858819.46    | 0.13%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                            | Icahn Enterprises LP                                            | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186000 | PA      | $187387.56    | 0.03%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                            | Icahn Enterprises LP                                            | CUSIP: 451102CJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    787000 | PA      | $760757.88    | 0.12%             | 2030-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                            | Icahn Enterprises LP                                            | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    177000 | PA      | $177995.45    | 0.03%             | 2029-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                      | iHeartCommunications, Inc.                                      | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    444846 | PA      | $411624.90    | 0.06%             | 2029-05-01      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                      | iHeartCommunications, Inc.                                      | CUSIP: 45174HBL0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    567291 | PA      | $466843.95    | 0.07%             | 2030-05-01      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                      | iHeartCommunications, Inc.                                      | CUSIP: 45174HBM8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    119000 | PA      | $101592.23    | 0.02%             | 2030-08-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Illuminate Buyer LLC                                            | Illuminate Buyer LLC                                            | CUSIP: 45232TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $41990.12     | 0.01%             | 2028-07-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Imola Merger Corp.                                              | Imola Merger Corp.                                              | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    920000 | PA      | $908726.69    | 0.14%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                     | Crescent Energy Finance LLC                                     | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    232000 | PA      | $225889.40    | 0.04%             | 2032-04-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                     | Crescent Energy Finance LLC                                     | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   1056000 | PA      | $1000588.40   | 0.16%             | 2033-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                     | Crescent Energy Finance LLC                                     | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123275.00    | 0.02%             | 2034-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| INEOS Quattro Finance 2 plc                                     | INEOS Quattro Finance 2 plc                                     | CUSIP: 45674GAB0<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $170100.00    | 0.03%             | 2029-03-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Infrabuild Australia Pty. Ltd.                                  | Infrabuild Australia Pty. Ltd.                                  | CUSIP: 45682RAC4<br>LEI: 549300W2CPB5W6GFH859 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $264527.87    | 0.04%             | 2028-11-15      | Fixed         | 14.50%                | Yes           |                  2 | On Loan: No      |
| Ingevity Corp.                                                  | Ingevity Corp.                                                  | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |    302000 | PA      | $292720.78    | 0.05%             | 2028-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Ingles Markets, Inc.                                            | Ingles Markets, Inc.                                            | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |    156000 | PA      | $147077.47    | 0.02%             | 2031-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Insight Enterprises, Inc.                                       | Insight Enterprises, Inc.                                       | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |    254000 | PA      | $260035.04    | 0.04%             | 2032-05-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Innophos Holdings, Inc.                                         | Innophos Holdings, Inc.                                         | CUSIP: 45774NAD0<br>LEI: XQ0331QX53IRX25OY417 | Long             | DBT              | CORP              | US        |    200000 | PA      | $179769.21    | 0.03%             | 2029-06-15      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Insulet Corp.                                                   | Insulet Corp.                                                   | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    203000 | PA      | $212024.16    | 0.03%             | 2033-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Interface, Inc.                                                 | Interface, Inc.                                                 | CUSIP: 458665AS5<br>LEI: 549300VXZWQOIDFPU355 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129837.50    | 0.02%             | 2028-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Brightstar Lottery plc                                          | Brightstar Lottery plc                                          | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    656000 | PA      | $654879.95    | 0.10%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Inversion Escrow Issuer LLC                                     | Inversion Escrow Issuer LLC                                     | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    859000 | PA      | $839086.19    | 0.13%             | 2032-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                                   | ION Platform Finance US, Inc.                                   | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |    494000 | PA      | $470691.55    | 0.07%             | 2032-09-30      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                                   | ION Platform Finance US, Inc.                                   | CUSIP: 46206AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    794000 | PA      | $806897.96    | 0.13%             | 2029-05-30      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                                   | ION Platform Finance US, Inc.                                   | CUSIP: 46206AAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    786000 | PA      | $785051.74    | 0.12%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                     | IQVIA, Inc.                                                     | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    332000 | PA      | $345401.51    | 0.05%             | 2030-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                     | IQVIA, Inc.                                                     | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1228000 | PA      | $1284445.02   | 0.20%             | 2032-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    309000 | PA      | $305290.58    | 0.05%             | 2029-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1194497.94   | 0.19%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    567000 | PA      | $563772.75    | 0.09%             | 2032-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    783000 | PA      | $748897.61    | 0.12%             | 2031-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    490000 | PA      | $503327.02    | 0.08%             | 2029-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    426000 | PA      | $435577.79    | 0.07%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain Information Management Services, Inc.             | Iron Mountain Information Management Services, Inc.             | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    326000 | PA      | $313800.13    | 0.05%             | 2032-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Iris Holding, Inc.                                              | Iris Holding, Inc.                                              | CUSIP: 462914AA0<br>LEI: 54930013SPZ2NB3I3V40 | Long             | DBT              | CORP              | US        |    153000 | PA      | $135574.03    | 0.02%             | 2028-12-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ithaca Energy North Sea plc                                     | Ithaca Energy North Sea plc                                     | CUSIP: 46567TAC8<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    361000 | PA      | $377879.28    | 0.06%             | 2029-10-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| JB Poindexter & Co., Inc.                                       | JB Poindexter & Co., Inc.                                       | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    365000 | PA      | $380594.99    | 0.06%             | 2031-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| JW Aluminum Continuous Cast Co.                                 | JW Aluminum Continuous Cast Co.                                 | CUSIP: 46648XAB4<br>LEI: 5493008HJ8BWQC8XAF08 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179537.01    | 0.03%             | 2030-04-01      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| Jacobs Entertainment, Inc.                                      | Jacobs Entertainment, Inc.                                      | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    217000 | PA      | $208862.50    | 0.03%             | 2029-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive plc                                | Jaguar Land Rover Automotive plc                                | CUSIP: 47010BAK0<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    676000 | PA      | $675938.69    | 0.10%             | 2028-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                               | Jane Street Group                                               | CUSIP: 47077WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    213000 | PA      | $209615.45    | 0.03%             | 2029-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                               | Jane Street Group                                               | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1146000 | PA      | $1207228.49   | 0.19%             | 2031-04-30      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                               | Jane Street Group                                               | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    733000 | PA      | $745670.64    | 0.12%             | 2032-11-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                               | Jane Street Group                                               | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    391000 | PA      | $408938.69    | 0.06%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Jazz Securities DAC                                             | Jazz Securities DAC                                             | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    513000 | PA      | $506430.95    | 0.08%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Finance LLC                                           | Jefferies Finance LLC                                           | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    317000 | PA      | $301107.84    | 0.05%             | 2028-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Finance LLC                                           | Jefferies Finance LLC                                           | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $195190.74    | 0.03%             | 2031-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Jefferson Capital Holdings LLC                                  | Jefferson Capital Holdings LLC                                  | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $163651.17    | 0.03%             | 2029-02-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Jefferson Capital Holdings LLC                                  | Jefferson Capital Holdings LLC                                  | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    234000 | PA      | $244798.16    | 0.04%             | 2030-05-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                  | JELD-WEN, Inc.                                                  | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     93000 | PA      | $79869.03     | 0.01%             | 2027-12-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                  | JELD-WEN, Inc.                                                  | CUSIP: 47580PAA1<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    362000 | PA      | $246156.86    | 0.04%             | 2032-09-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| JetBlue Airways Corp.                                           | JetBlue Airways Corp.                                           | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    856000 | PA      | $845513.71    | 0.13%             | 2031-09-20      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management, Inc.                    | Jones Deslauriers Insurance Management, Inc.                    | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    426000 | PA      | $445870.34    | 0.07%             | 2030-03-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management, Inc.                    | Jones Deslauriers Insurance Management, Inc.                    | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    133000 | PA      | $131204.43    | 0.02%             | 2033-10-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Ziff Davis, Inc.                                                | Ziff Davis, Inc.                                                | CUSIP: 48123VAF9<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |    225000 | PA      | $213390.79    | 0.03%             | 2030-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund                      | JPMorgan U.S. Government Money Market Fund, Class IM            | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |   5401808 | NS      | $5401807.99   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR, Inc.                                                       | KBR, Inc.                                                       | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |    109000 | PA      | $106954.82    | 0.02%             | 2028-09-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| K. Hovnanian Enterprises, Inc.                                  | K. Hovnanian Enterprises, Inc.                                  | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    395000 | PA      | $406711.78    | 0.06%             | 2033-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Kaiser Aluminum Corp.                                           | Kaiser Aluminum Corp.                                           | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    341000 | PA      | $326820.84    | 0.05%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| KB Home                                                         | KB Home                                                         | CUSIP: 48666KAX7<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    443000 | PA      | $452325.15    | 0.07%             | 2027-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| KB Home                                                         | KB Home                                                         | CUSIP: 48666KAZ2<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |     92000 | PA      | $87246.81     | 0.01%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KB Home                                                         | KB Home                                                         | CUSIP: 48666KBA6<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36183.46     | 0.01%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| KeHE Distributors LLC                                           | KeHE Distributors LLC                                           | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    429000 | PA      | $448188.31    | 0.07%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Ken Garff Automotive LLC                                        | Ken Garff Automotive LLC                                        | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $172073.26    | 0.03%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                            | Kennedy-Wilson, Inc.                                            | CUSIP: 489399AL9<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    583000 | PA      | $563293.96    | 0.09%             | 2029-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                            | Kennedy-Wilson, Inc.                                            | CUSIP: 489399AM7<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    218000 | PA      | $209160.10    | 0.03%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                            | Kennedy-Wilson, Inc.                                            | CUSIP: 489399AN5<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    101000 | PA      | $96677.20     | 0.01%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Kedrion SpA                                                     | Kedrion SpA                                                     | CUSIP: 49272YAB9<br>LEI: 81560047FA58E1BEDF67 | Long             | DBT              | CORP              | IT        |    380000 | PA      | $369067.34    | 0.06%             | 2029-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Caturus Energy LLC                                              | Caturus Energy LLC                                              | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |    238000 | PA      | $245575.54    | 0.04%             | 2030-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Kinetik Holdings LP                                             | Kinetik Holdings LP                                             | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    219000 | PA      | $220745.65    | 0.03%             | 2030-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Kinetik Holdings LP                                             | Kinetik Holdings LP                                             | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    706000 | PA      | $726286.24    | 0.11%             | 2028-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Kingpin Intermediate Holdings LLC                               | Kingpin Intermediate Holdings LLC                               | CUSIP: 49579RAB4<br>LEI: 549300HRZOJTMNZCST05 | Long             | DBT              | CORP              | US        |    225000 | PA      | $208606.57    | 0.03%             | 2032-10-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                           | Kioxia Holdings Corp.                                           | CUSIP: 49726JAB4<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |    893000 | PA      | $928768.22    | 0.14%             | 2033-07-24      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Knife River Corp.                                               | Knife River Corp.                                               | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    207000 | PA      | $217708.73    | 0.03%             | 2031-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Kodiak Gas Services LLC                                         | Kodiak Gas Services LLC                                         | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    343000 | PA      | $357616.26    | 0.06%             | 2029-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Kodiak Gas Services LLC                                         | Kodiak Gas Services LLC                                         | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25501.35     | 0.00%             | 2033-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Kodiak Gas Services LLC                                         | Kodiak Gas Services LLC                                         | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    490000 | PA      | $503468.14    | 0.08%             | 2035-10-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Kohl's Corp.                                                    | Kohl's Corp.                                                    | CUSIP: 500255AV6<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    509000 | PA      | $364449.96    | 0.06%             | 2045-07-17      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Kohl's Corp.                                                    | Kohl's Corp.                                                    | CUSIP: 500255AY0<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    139000 | PA      | $152087.82    | 0.02%             | 2030-06-01      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Kontoor Brands, Inc.                                            | Kontoor Brands, Inc.                                            | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    199000 | PA      | $189115.31    | 0.03%             | 2029-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Korn Ferry                                                      | Korn Ferry                                                      | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |    173000 | PA      | $172993.55    | 0.03%             | 2027-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Kraken Oil & Gas Partners LLC                                   | Kraken Oil & Gas Partners LLC                                   | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |    247000 | PA      | $244508.49    | 0.04%             | 2029-08-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Kronos Acquisition Holdings, Inc.                               | Kronos Acquisition Holdings, Inc.                               | CUSIP: 50106GAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    183000 | PA      | $121976.33    | 0.02%             | 2031-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Kronos Acquisition Holdings, Inc.                               | Kronos Acquisition Holdings, Inc.                               | CUSIP: 50106GAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382000 | PA      | $172723.32    | 0.03%             | 2032-06-30      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                      | LABL, Inc.                                                      | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     63000 | PA      | $42874.44     | 0.01%             | 2028-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                      | LABL, Inc.                                                      | CUSIP: 50168QAD7<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    161000 | PA      | $61180.00     | 0.01%             | 2029-11-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                      | LABL, Inc.                                                      | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    450000 | PA      | $313865.47    | 0.05%             | 2028-11-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                      | LABL, Inc.                                                      | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    631000 | PA      | $385362.30    | 0.06%             | 2031-10-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                         | Bath & Body Works, Inc.                                         | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    123000 | PA      | $123121.16    | 0.02%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                         | Bath & Body Works, Inc.                                         | CUSIP: 501797AM6<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    967000 | PA      | $956632.50    | 0.15%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                         | Bath & Body Works, Inc.                                         | CUSIP: 501797AQ7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     91000 | PA      | $92683.59     | 0.01%             | 2027-01-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                         | Bath & Body Works, Inc.                                         | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    398000 | PA      | $404889.50    | 0.06%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LGI Homes, Inc.                                                 | LGI Homes, Inc.                                                 | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    102000 | PA      | $93216.82     | 0.01%             | 2029-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| LGI Homes, Inc.                                                 | LGI Homes, Inc.                                                 | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     34000 | PA      | $35422.32     | 0.01%             | 2028-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| LGI Homes, Inc.                                                 | LGI Homes, Inc.                                                 | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    343000 | PA      | $336027.72    | 0.05%             | 2032-11-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| LCM Investments Holdings II LLC                                 | LCM Investments Holdings II LLC                                 | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    315000 | PA      | $310132.49    | 0.05%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| LCM Investments Holdings II LLC                                 | LCM Investments Holdings II LLC                                 | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    541000 | PA      | $570780.97    | 0.09%             | 2031-08-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| LCPR Senior Secured Financing DAC                               | LCPR Senior Secured Financing DAC                               | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    646000 | PA      | $436857.50    | 0.07%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| LCPR Senior Secured Financing DAC                               | LCPR Senior Secured Financing DAC                               | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    235000 | PA      | $148050.00    | 0.02%             | 2029-07-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| LFS Topco LLC                                                   | LFS Topco LLC                                                   | CUSIP: 50203TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $169147.72    | 0.03%             | 2030-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| LSB Industries, Inc.                                            | LSB Industries, Inc.                                            | CUSIP: 502160AN4<br>LEI: 5493001H215A0HG0MI71 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228847.75    | 0.04%             | 2028-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP                            | Ladder Capital Finance Holdings LLLP                            | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    636000 | PA      | $629953.80    | 0.10%             | 2027-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP                            | Ladder Capital Finance Holdings LLLP                            | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310000 | PA      | $305566.29    | 0.05%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP                            | Ladder Capital Finance Holdings LLLP                            | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127000 | PA      | $134621.40    | 0.02%             | 2031-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Lamar Media Corp.                                               | Lamar Media Corp.                                               | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    593000 | PA      | $581262.81    | 0.09%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp.                                               | Lamar Media Corp.                                               | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    318000 | PA      | $307659.66    | 0.05%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp.                                               | Lamar Media Corp.                                               | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $71853.70     | 0.01%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp.                                               | Lamar Media Corp.                                               | CUSIP: 513075BZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $113227.55    | 0.02%             | 2031-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                      | Lamb Weston Holdings, Inc.                                      | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     89000 | PA      | $89046.42     | 0.01%             | 2028-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                      | Lamb Weston Holdings, Inc.                                      | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    370000 | PA      | $358947.58    | 0.06%             | 2030-01-31      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                      | Lamb Weston Holdings, Inc.                                      | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    511000 | PA      | $489095.53    | 0.08%             | 2032-01-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Vital Energy, Inc.                                              | Vital Energy, Inc.                                              | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    506000 | PA      | $499074.53    | 0.08%             | 2029-07-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Vital Energy, Inc.                                              | Vital Energy, Inc.                                              | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    159000 | PA      | $165160.93    | 0.03%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| LD Holdings Group LLC                                           | LD Holdings Group LLC                                           | CUSIP: 521088AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    451000 | PA      | $416346.96    | 0.06%             | 2028-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| LBM Acquisition LLC                                             | LBM Acquisition LLC                                             | CUSIP: 52109SAB5<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    171000 | PA      | $176253.12    | 0.03%             | 2031-06-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Leeward Renewable Energy Operations LLC                         | Leeward Renewable Energy Operations LLC                         | CUSIP: 524590AA4<br>LEI: 254900EVJU1A57NUX379 | Long             | DBT              | CORP              | US        |    140000 | PA      | $133331.34    | 0.02%             | 2029-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    430000 | PA      | $384751.10    | 0.06%             | 2030-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CH4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    709000 | PA      | $623917.46    | 0.10%             | 2031-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1081000 | PA      | $1100876.35   | 0.17%             | 2033-06-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1106000 | PA      | $1132809.44   | 0.18%             | 2034-03-31      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Levi Strauss & Co.                                              | Levi Strauss & Co.                                              | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |    217000 | PA      | $202249.16    | 0.03%             | 2031-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Liberty Interactive LLC                                         | Liberty Interactive LLC                                         | CUSIP: 530715AD3<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |    133000 | PA      | $7896.88      | 0.00%             | 2029-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Liberty Interactive LLC                                         | Liberty Interactive LLC                                         | CUSIP: 530715AJ0<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |     99000 | PA      | $5445.00      | 0.00%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                                      | Liberty Mutual Group, Inc.                                      | CUSIP: 53079EAN4<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |     91000 | PA      | $104723.58    | 0.02%             | 2037-03-15      | Fixed         | 7.80%                 | Yes           |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                                      | Liberty Mutual Group, Inc.                                      | CUSIP: 53079EBL7<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    788000 | PA      | $508278.76    | 0.08%             | 2061-02-01      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                                      | Liberty Mutual Group, Inc.                                      | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |     54000 | PA      | $52953.25     | 0.01%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Life Time, Inc.                                                 | Life Time, Inc.                                                 | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    223000 | PA      | $227411.61    | 0.04%             | 2031-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Light & Wonder International, Inc.                              | Light & Wonder International, Inc.                              | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26195.33     | 0.00%             | 2031-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Light & Wonder International, Inc.                              | Light & Wonder International, Inc.                              | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    655000 | PA      | $659024.98    | 0.10%             | 2033-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                          | LifePoint Health, Inc.                                          | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    682000 | PA      | $664803.03    | 0.10%             | 2029-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                          | LifePoint Health, Inc.                                          | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    311000 | PA      | $342363.42    | 0.05%             | 2030-10-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                          | LifePoint Health, Inc.                                          | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    126000 | PA      | $133178.35    | 0.02%             | 2032-06-01      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                          | LifePoint Health, Inc.                                          | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    728000 | PA      | $782133.35    | 0.12%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Lightning Power LLC                                             | Lightning Power LLC                                             | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    649000 | PA      | $688703.22    | 0.11%             | 2032-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Lindblad Expeditions LLC                                        | Lindblad Expeditions LLC                                        | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    362000 | PA      | $371261.05    | 0.06%             | 2030-09-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                             | Lithia Motors, Inc.                                             | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    113000 | PA      | $112870.32    | 0.02%             | 2027-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                             | Lithia Motors, Inc.                                             | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    140000 | PA      | $134366.13    | 0.02%             | 2031-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                             | Lithia Motors, Inc.                                             | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    626000 | PA      | $603097.29    | 0.09%             | 2029-06-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                             | Lithia Motors, Inc.                                             | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150749.59    | 0.02%             | 2030-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                 | Live Nation Entertainment, Inc.                                 | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1041000 | PA      | $1039229.57   | 0.16%             | 2027-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                 | Live Nation Entertainment, Inc.                                 | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    114000 | PA      | $111990.85    | 0.02%             | 2028-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Long Ridge Energy LLC                                           | Long Ridge Energy LLC                                           | CUSIP: 54288CAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    363000 | PA      | $380007.29    | 0.06%             | 2032-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Luna 1.5 Sarl                                                   | Luna 1.5 SARL                                                   | CUSIP: 550356AA7<br>LEI: 64884UZ60Y77J5XK5C41 | Long             | DBT              | CORP              | LU        |    211000 | PA      | $220952.88    | 0.03%             | 2032-07-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| MEG Energy Corp.                                                | MEG Energy Corp.                                                | CUSIP: 552704AF5<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |    292000 | PA      | $296289.48    | 0.05%             | 2029-02-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                       | MGM Resorts International                                       | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    871000 | PA      | $866451.64    | 0.13%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MGM Resorts International                                       | MGM Resorts International                                       | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    660000 | PA      | $677441.82    | 0.11%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| M/I Homes, Inc.                                                 | M/I Homes, Inc.                                                 | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    302000 | PA      | $301160.83    | 0.05%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                    | MPH Acquisition Holdings LLC                                    | CUSIP: 553283AE2<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     92345 | PA      | $80571.01     | 0.01%             | 2031-03-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                    | MPH Acquisition Holdings LLC                                    | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    275000 | PA      | $295125.19    | 0.05%             | 2030-12-31      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                    | MPH Acquisition Holdings LLC                                    | CUSIP: 553283AG7<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    649000 | PA      | $571762.51    | 0.09%             | 2030-12-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MIWD Holdco II LLC                                              | MIWD Holdco II LLC                                              | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89000 | PA      | $84044.90     | 0.01%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP                                    | MPT Operating Partnership LP                                    | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    902000 | PA      | $871736.72    | 0.14%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP                                    | MPT Operating Partnership LP                                    | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    248000 | PA      | $208855.56    | 0.03%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP                                    | MPT Operating Partnership LP                                    | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1259000 | PA      | $923032.20    | 0.14%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                      | Macy's Retail Holdings LLC                                      | CUSIP: 55616XAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $96355.90     | 0.01%             | 2042-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                      | Macy's Retail Holdings LLC                                      | CUSIP: 55616XAM9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $271573.44    | 0.04%             | 2034-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                      | Macy's Retail Holdings LLC                                      | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $85205.70     | 0.01%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                      | Macy's Retail Holdings LLC                                      | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $361713.24    | 0.06%             | 2032-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                                 | Madison IAQ LLC                                                 | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    181000 | PA      | $177562.50    | 0.03%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                                 | Madison IAQ LLC                                                 | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    624000 | PA      | $617113.10    | 0.10%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                      | Warnermedia Holdings, Inc.                                      | CUSIP: 55903VBL6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173137.13    | 0.03%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                      | Warnermedia Holdings, Inc.                                      | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1904000 | PA      | $1739780.00   | 0.27%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                      | Warnermedia Holdings, Inc.                                      | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1291000 | PA      | $965668.00    | 0.15%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                      | Warnermedia Holdings, Inc.                                      | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1234000 | PA      | $987039.58    | 0.15%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                      | Warnermedia Holdings, Inc.                                      | CUSIP: 55903VBY8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    738000 | PA      | $715854.47    | 0.11%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                       | Michaels Cos., Inc. (The)                                       | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    470000 | PA      | $442866.05    | 0.07%             | 2028-05-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                       | Michaels Cos., Inc. (The)                                       | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    311000 | PA      | $282311.74    | 0.04%             | 2029-05-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Magnera Corp.                                                   | Magnera Corp.                                                   | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    561000 | PA      | $535418.40    | 0.08%             | 2031-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Magnolia Oil & Gas Operating LLC                                | Magnolia Oil & Gas Operating LLC                                | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    344000 | PA      | $353543.59    | 0.05%             | 2032-12-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| MajorDrive Holdings IV LLC                                      | MajorDrive Holdings IV LLC                                      | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |    239000 | PA      | $162520.00    | 0.03%             | 2029-06-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Manitowoc Co., Inc. (The)                                       | Manitowoc Co., Inc. (The)                                       | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |    158000 | PA      | $167876.87    | 0.03%             | 2031-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                | Marriott Ownership Resorts, Inc.                                | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    268000 | PA      | $262386.18    | 0.04%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                | Marriott Ownership Resorts, Inc.                                | CUSIP: 57164PAH9<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    198000 | PA      | $187999.16    | 0.03%             | 2029-06-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                | Marriott Ownership Resorts, Inc.                                | CUSIP: 57164PAK2<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    241000 | PA      | $229111.49    | 0.04%             | 2033-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Martin Midstream Partners LP                                    | Martin Midstream Partners LP                                    | CUSIP: 573334AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $178190.00    | 0.03%             | 2028-02-15      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Masterbrand, Inc.                                               | Masterbrand, Inc.                                               | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    303000 | PA      | $312591.47    | 0.05%             | 2032-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Matador Resources Co.                                           | Matador Resources Co.                                           | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    667000 | PA      | $683193.43    | 0.11%             | 2028-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Matador Resources Co.                                           | Matador Resources Co.                                           | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182802.96    | 0.03%             | 2032-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Matador Resources Co.                                           | Matador Resources Co.                                           | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    167000 | PA      | $166775.20    | 0.03%             | 2033-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                     | Match Group Holdings II LLC                                     | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    334000 | PA      | $333500.54    | 0.05%             | 2027-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                     | Match Group Holdings II LLC                                     | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    108000 | PA      | $108403.49    | 0.02%             | 2029-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                     | Match Group Holdings II LLC                                     | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    457000 | PA      | $452520.17    | 0.07%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                     | Match Group Holdings II LLC                                     | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    455000 | PA      | $416393.89    | 0.06%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                     | Match Group Holdings II LLC                                     | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22308.90     | 0.00%             | 2033-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Mattamy Group Corp.                                             | Mattamy Group Corp.                                             | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    203000 | PA      | $202871.10    | 0.03%             | 2027-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Mattamy Group Corp.                                             | Mattamy Group Corp.                                             | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    299000 | PA      | $290078.50    | 0.04%             | 2030-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Matthews International Corp.                                    | Matthews International Corp.                                    | CUSIP: 577128AC5<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |    133000 | PA      | $137415.60    | 0.02%             | 2027-10-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                          | Mauser Packaging Solutions Holding Co.                          | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1320920.85   | 0.20%             | 2030-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                          | Mauser Packaging Solutions Holding Co.                          | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    368000 | PA      | $345920.21    | 0.05%             | 2030-04-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                     | McGraw-Hill Education, Inc.                                     | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    604000 | PA      | $604495.88    | 0.09%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                     | McGraw-Hill Education, Inc.                                     | CUSIP: 57767XAB6<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    144000 | PA      | $145794.38    | 0.02%             | 2029-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Maxim Crane Works Holdings Capital LLC                          | Maxim Crane Works Holdings Capital LLC                          | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    282000 | PA      | $299607.77    | 0.05%             | 2028-09-01      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Maxam Prill Sarl                                                | Maxam Prill SARL                                                | CUSIP: 57779MAA8<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    230000 | PA      | $234254.54    | 0.04%             | 2030-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| McAfee Corp.                                                    | McAfee Corp.                                                    | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    909000 | PA      | $793158.40    | 0.12%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                     | McGraw-Hill Education, Inc.                                     | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    293000 | PA      | $303818.44    | 0.05%             | 2031-09-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Pediatrix Medical Group, Inc.                                   | Pediatrix Medical Group, Inc.                                   | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $173490.46    | 0.03%             | 2030-02-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Mercer International, Inc.                                      | Mercer International, Inc.                                      | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    629000 | PA      | $373255.39    | 0.06%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Mercer International, Inc.                                      | Mercer International, Inc.                                      | CUSIP: 588056BC4<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |     13000 | PA      | $9372.94      | 0.00%             | 2028-10-01      | Fixed         | 12.88%                | Yes           |                  2 | On Loan: No      |
| Merlin Entertainments Group US Holdings, Inc.                   | Merlin Entertainments Group US Holdings, Inc.                   | CUSIP: 59010UAA5<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |    210000 | PA      | $176872.86    | 0.03%             | 2031-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Methanex Corp.                                                  | Methanex Corp.                                                  | CUSIP: 59151KAJ7<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    114000 | PA      | $99992.38     | 0.02%             | 2044-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Methanex Corp.                                                  | Methanex Corp.                                                  | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |     23000 | PA      | $23022.61     | 0.00%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Methanex Corp.                                                  | Methanex Corp.                                                  | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    754000 | PA      | $756122.51    | 0.12%             | 2027-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Methanex US Operations, Inc.                                    | Methanex US Operations, Inc.                                    | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    101000 | PA      | $103702.76    | 0.02%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Mavis Tire Express Services Topco Corp.                         | Mavis Tire Express Services Topco Corp.                         | CUSIP: 59155LAA0<br>LEI: 254900NVDM4GTLBL9E56 | Long             | DBT              | CORP              | US        |    309000 | PA      | $306353.88    | 0.05%             | 2029-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Stagwell Global LLC                                             | Stagwell Global LLC                                             | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |    476000 | PA      | $462550.67    | 0.07%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Midcontinent Communications                                     | Midcontinent Communications                                     | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |    281000 | PA      | $283416.88    | 0.04%             | 2032-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Midcap Financial Issuer Trust                                   | Midcap Financial Issuer Trust                                   | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $409653.92    | 0.06%             | 2028-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Midcap Financial Issuer Trust                                   | Midcap Financial Issuer Trust                                   | CUSIP: 59590AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $215442.15    | 0.03%             | 2030-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Midwest Gaming Borrower LLC                                     | Midwest Gaming Borrower LLC                                     | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $317411.12    | 0.05%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Millicom International Cellular SA                              | Millicom International Cellular SA                              | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    525000 | PA      | $487068.75    | 0.08%             | 2031-04-27      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Millicom International Cellular SA                              | Millicom International Cellular SA                              | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    526000 | PA      | $545609.28    | 0.08%             | 2032-04-02      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Millrose Properties, Inc.                                       | Millrose Properties, Inc.                                       | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $377447.36    | 0.06%             | 2030-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Millrose Properties, Inc.                                       | Millrose Properties, Inc.                                       | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    497000 | PA      | $502614.11    | 0.08%             | 2032-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                          | Mineral Resources Ltd.                                          | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    644000 | PA      | $658357.98    | 0.10%             | 2027-11-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                          | Mineral Resources Ltd.                                          | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     96000 | PA      | $99770.97     | 0.02%             | 2030-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                          | Mineral Resources Ltd.                                          | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    282000 | PA      | $296098.59    | 0.05%             | 2028-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                          | Mineral Resources Ltd.                                          | CUSIP: 603051AF0<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    385000 | PA      | $400159.38    | 0.06%             | 2031-04-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Minerals Technologies, Inc.                                     | Minerals Technologies, Inc.                                     | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |    146000 | PA      | $144905.00    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                        | AthenaHealth Group, Inc.                                        | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   1046000 | PA      | $1038832.18   | 0.16%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Miter Brands Acquisition Holdco, Inc.                           | Miter Brands Acquisition Holdco, Inc.                           | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    424000 | PA      | $433138.47    | 0.07%             | 2032-04-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Mobius Merger Sub, Inc.                                         | Mobius Merger Sub, Inc.                                         | CUSIP: 606950AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    244000 | PA      | $174182.38    | 0.03%             | 2030-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Mohegan Tribal Gaming Authority                                 | Mohegan Tribal Gaming Authority                                 | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    271000 | PA      | $281829.97    | 0.04%             | 2030-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Mohegan Tribal Gaming Authority                                 | Mohegan Tribal Gaming Authority                                 | CUSIP: 60832QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    386000 | PA      | $403671.08    | 0.06%             | 2031-04-15      | Fixed         | 11.88%                | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                         | Molina Healthcare, Inc.                                         | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    539000 | PA      | $524560.51    | 0.08%             | 2028-06-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                         | Molina Healthcare, Inc.                                         | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    526000 | PA      | $485943.79    | 0.08%             | 2030-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                         | Molina Healthcare, Inc.                                         | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    134000 | PA      | $120782.08    | 0.02%             | 2032-05-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                         | Molina Healthcare, Inc.                                         | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     84000 | PA      | $84190.43     | 0.01%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Moog, Inc.                                                      | Moog, Inc.                                                      | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |    223000 | PA      | $221722.68    | 0.03%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Moss Creek Resources Holdings, Inc.                             | Moss Creek Resources Holdings, Inc.                             | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    403000 | PA      | $386504.32    | 0.06%             | 2031-09-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Motion Finco Sarl                                               | Motion Finco SARL                                               | CUSIP: 61980LAB5<br>LEI: 2549002L1LBQZKA7UN30 | Long             | DBT              | CORP              | LU        |    460000 | PA      | $395750.88    | 0.06%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                                    | Mueller Water Products, Inc.                                    | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |    195000 | PA      | $189394.90    | 0.03%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                             | Medline Borrower LP                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   2664000 | PA      | $2586105.71   | 0.40%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                             | Medline Borrower LP                                             | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1048000 | PA      | $1050448.13   | 0.16%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil Corp.                                                | Murphy Oil Corp.                                                | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    103000 | PA      | $89537.67     | 0.01%             | 2042-12-01      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Murphy Oil Corp.                                                | Murphy Oil Corp.                                                | CUSIP: 626717AP7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    298000 | PA      | $295473.05    | 0.05%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Murphy Oil USA, Inc.                                            | Murphy Oil USA, Inc.                                            | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    205000 | PA      | $203321.67    | 0.03%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Murphy Oil USA, Inc.                                            | Murphy Oil USA, Inc.                                            | CUSIP: 626738AF5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    383000 | PA      | $359076.06    | 0.06%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| NCR Voyix Corp.                                                 | NCR Voyix Corp.                                                 | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    343000 | PA      | $340479.60    | 0.05%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NCR Voyix Corp.                                                 | NCR Voyix Corp.                                                 | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    148000 | PA      | $146618.97    | 0.02%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    867000 | PA      | $919898.27    | 0.14%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBP5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    302000 | PA      | $305279.72    | 0.05%             | 2030-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    928000 | PA      | $941827.20    | 0.15%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    139000 | PA      | $137171.90    | 0.02%             | 2031-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     25000 | PA      | $24700.69     | 0.00%             | 2033-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCL Finance Ltd.                                                | NCL Finance Ltd.                                                | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     80000 | PA      | $81704.48     | 0.01%             | 2028-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| NFE Financing LLC                                               | NFE Financing LLC                                               | CUSIP: 62909BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    918743 | PA      | $232809.48    | 0.04%             | 2029-11-15      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                        | NGL Energy Operating LLC                                        | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286000 | PA      | $294214.49    | 0.05%             | 2029-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                        | NGL Energy Operating LLC                                        | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    723000 | PA      | $749542.05    | 0.12%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    942000 | PA      | $945971.25    | 0.15%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    495000 | PA      | $474238.22    | 0.07%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    792000 | PA      | $740198.61    | 0.11%             | 2032-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    517000 | PA      | $527958.85    | 0.08%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10305.29     | 0.00%             | 2034-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    767000 | PA      | $770824.98    | 0.12%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    889000 | PA      | $902861.29    | 0.14%             | 2036-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                         | Nabors Industries, Inc.                                         | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     65000 | PA      | $68148.60     | 0.01%             | 2030-01-31      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                         | Nabors Industries, Inc.                                         | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    314000 | PA      | $306621.22    | 0.05%             | 2031-08-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| NCR Atleos Corp.                                                | NCR Atleos Corp.                                                | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |    627000 | PA      | $677672.89    | 0.11%             | 2029-04-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Navient Corp.                                                   | Navient Corp.                                                   | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    504000 | PA      | $503554.46    | 0.08%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                                   | Navient Corp.                                                   | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    474000 | PA      | $468007.17    | 0.07%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                                          | Neptune Bidco US, Inc.                                          | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   1201000 | PA      | $1195526.92   | 0.19%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                         | NESCO Holdings II, Inc.                                         | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    450000 | PA      | $444365.19    | 0.07%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| New Enterprise Stone & Lime Co., Inc.                           | New Enterprise Stone & Lime Co., Inc.                           | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |    251000 | PA      | $251209.84    | 0.04%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| New Flyer Holdings, Inc.                                        | New Flyer Holdings, Inc.                                        | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    223000 | PA      | $238837.01    | 0.04%             | 2030-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| New Fortress Energy, Inc.                                       | New Fortress Energy, Inc.                                       | CUSIP: 644393AB6<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |     81000 | PA      | $13567.50     | 0.00%             | 2026-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| New Fortress Energy, Inc.                                       | New Fortress Energy, Inc.                                       | CUSIP: 644393AC4<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |    153000 | PA      | $13770.00     | 0.00%             | 2029-03-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| New Gold, Inc.                                                  | New Gold, Inc.                                                  | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    196000 | PA      | $208451.68    | 0.03%             | 2032-04-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| New Home Co., Inc. (The)                                        | New Home Co., Inc. (The)                                        | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |    304000 | PA      | $315629.82    | 0.05%             | 2029-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                             | Rithm Capital Corp.                                             | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    355000 | PA      | $362683.62    | 0.06%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                             | Rithm Capital Corp.                                             | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    247000 | PA      | $251758.46    | 0.04%             | 2030-07-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Newfold Digital Holdings Group, Inc.                            | Newfold Digital Holdings Group, Inc.                            | CUSIP: 650929AA0<br>LEI: 549300UTQC2651SB0W88 | Long             | DBT              | CORP              | US        |    136000 | PA      | $89141.74     | 0.01%             | 2028-10-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229AX4<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    184000 | PA      | $170809.92    | 0.03%             | 2036-04-01      | Fixed         | 7.37%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    246000 | PA      | $202371.68    | 0.03%             | 2046-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    323000 | PA      | $322946.25    | 0.05%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    312000 | PA      | $307062.44    | 0.05%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    877000 | PA      | $825820.38    | 0.13%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    105000 | PA      | $109302.48    | 0.02%             | 2028-06-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Newmark Group, Inc.                                             | Newmark Group, Inc.                                             | CUSIP: 65158NAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    206000 | PA      | $219875.13    | 0.03%             | 2029-01-12      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                             | Nexstar Media, Inc.                                             | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    563000 | PA      | $558326.14    | 0.09%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    464000 | PA      | $455871.93    | 0.07%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    897000 | PA      | $919272.51    | 0.14%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                             | Nexstar Media, Inc.                                             | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    446000 | PA      | $446347.43    | 0.07%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Nine Energy Service, Inc.                                       | Nine Energy Service, Inc.                                       | CUSIP: 65441VAE1<br>LEI: 549300KRLJCZBPZMKT65 | Long             | DBT              | CORP              | US        |    182000 | PA      | $65520.00     | 0.01%             | 2028-02-01      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Nissan Motor Co. Ltd.                                           | Nissan Motor Co. Ltd.                                           | CUSIP: 654744AC5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1698000 | PA      | $1663627.17   | 0.26%             | 2027-09-17      | Fixed         | 4.34%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Co. Ltd.                                           | Nissan Motor Co. Ltd.                                           | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1224000 | PA      | $1148280.39   | 0.18%             | 2030-09-17      | Fixed         | 4.81%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                                 | Nissan Motor Acceptance Co. LLC                                 | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    574000 | PA      | $557785.42    | 0.09%             | 2026-09-16      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                                 | Nissan Motor Acceptance Co. LLC                                 | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     62000 | PA      | $56973.87     | 0.01%             | 2028-09-15      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                                 | Nissan Motor Acceptance Co. LLC                                 | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    938000 | PA      | $929606.49    | 0.14%             | 2030-09-30      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Co. Ltd.                                           | Nissan Motor Co. Ltd.                                           | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    891000 | PA      | $941781.65    | 0.15%             | 2035-07-17      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Noble Finance II LLC                                            | Noble Finance II LLC                                            | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    692000 | PA      | $718904.96    | 0.11%             | 2030-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                 | Nordstrom, Inc.                                                 | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    424000 | PA      | $319023.66    | 0.05%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                 | Nordstrom, Inc.                                                 | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39389.03     | 0.01%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                 | Nordstrom, Inc.                                                 | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    284000 | PA      | $266955.43    | 0.04%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                 | Nordstrom, Inc.                                                 | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    374000 | PA      | $343147.88    | 0.05%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Northern Oil & Gas, Inc.                                        | Northern Oil & Gas, Inc.                                        | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    574000 | PA      | $558616.97    | 0.09%             | 2033-10-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Northriver Midstream Finance LP                                 | Northriver Midstream Finance LP                                 | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |    353000 | PA      | $359577.10    | 0.06%             | 2032-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Gen Digital, Inc.                                               | Gen Digital, Inc.                                               | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    819000 | PA      | $835126.11    | 0.13%             | 2027-09-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Gen Digital, Inc.                                               | Gen Digital, Inc.                                               | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    271000 | PA      | $278867.13    | 0.04%             | 2033-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                            | NOVA Chemicals Corp.                                            | CUSIP: 66977WAR0<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    291000 | PA      | $292066.52    | 0.05%             | 2027-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                            | NOVA Chemicals Corp.                                            | CUSIP: 66977WAS8<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     53000 | PA      | $51335.28     | 0.01%             | 2029-05-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                            | NOVA Chemicals Corp.                                            | CUSIP: 66977WAT6<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    433000 | PA      | $453564.90    | 0.07%             | 2028-11-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                            | NOVA Chemicals Corp.                                            | CUSIP: 66977WAV1<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    487000 | PA      | $517247.57    | 0.08%             | 2031-12-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Brundage-Bone Concrete Pumping Holdings, Inc.                   | Brundage-Bone Concrete Pumping Holdings, Inc.                   | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    277000 | PA      | $280643.10    | 0.04%             | 2032-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                   | Novelis Corp.                                                   | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1473000 | PA      | $1416399.98   | 0.22%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                   | Novelis Corp.                                                   | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    295000 | PA      | $269128.91    | 0.04%             | 2031-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Nufarm Australia Ltd.                                           | Nufarm Australia Ltd.                                           | CUSIP: 67052NAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |    178000 | PA      | $160607.01    | 0.02%             | 2030-01-27      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                             | NuStar Logistics LP                                             | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    498000 | PA      | $499320.70    | 0.08%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chord Energy Corp.                                              | Chord Energy Corp.                                              | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    380000 | PA      | $392255.76    | 0.06%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Oceaneering International, Inc.                                 | Oceaneering International, Inc.                                 | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |    134000 | PA      | $136054.49    | 0.02%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Odeon Finco plc                                                 | Odeon Finco plc                                                 | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | GB        |    305000 | PA      | $315367.26    | 0.05%             | 2027-11-01      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| Office Properties Income Trust                                  | Office Properties Income Trust                                  | CUSIP: 67623CAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    376000 | PA      | $385171.61    | 0.06%             | 2029-03-31      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Office Properties Income Trust                                  | Office Properties Income Trust                                  | CUSIP: 67623CAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     88000 | PA      | $78320.00     | 0.01%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Olin Corp.                                                      | Olin Corp.                                                      | CUSIP: 680665AK2<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    102000 | PA      | $100244.46    | 0.02%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Olin Corp.                                                      | Olin Corp.                                                      | CUSIP: 680665AL0<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    273000 | PA      | $273794.16    | 0.04%             | 2029-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Olin Corp.                                                      | Olin Corp.                                                      | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    419000 | PA      | $416201.62    | 0.06%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                  | Olympus Water US Holding Corp.                                  | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    411000 | PA      | $394088.87    | 0.06%             | 2028-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                  | Olympus Water US Holding Corp.                                  | CUSIP: 681639AB6<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    530000 | PA      | $512092.10    | 0.08%             | 2029-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                  | Olympus Water US Holding Corp.                                  | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    291000 | PA      | $291287.50    | 0.05%             | 2031-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ON Semiconductor Corp.                                          | ON Semiconductor Corp.                                          | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    303000 | PA      | $295374.73    | 0.05%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    686000 | PA      | $677695.76    | 0.11%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    879000 | PA      | $871200.90    | 0.14%             | 2028-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1507000 | PA      | $1436000.41   | 0.22%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    121000 | PA      | $116826.41    | 0.02%             | 2029-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    232000 | PA      | $239195.02    | 0.04%             | 2029-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     13000 | PA      | $13247.21     | 0.00%             | 2029-09-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    542000 | PA      | $508689.98    | 0.08%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    857000 | PA      | $845822.75    | 0.13%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    334000 | PA      | $324137.71    | 0.05%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    487000 | PA      | $515446.16    | 0.08%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    297000 | PA      | $309442.22    | 0.05%             | 2031-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    194000 | PA      | $200745.38    | 0.03%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AJ9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     33000 | PA      | $33727.25     | 0.01%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    647000 | PA      | $670075.90    | 0.10%             | 2032-09-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| OneSky Flight LLC                                               | OneSky Flight LLC                                               | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |    303000 | PA      | $320662.78    | 0.05%             | 2029-12-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                                 | 1261229 BC Ltd.                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1528000 | PA      | $1579669.32   | 0.24%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ontario Gaming GTA LP                                           | Ontario Gaming GTA LP                                           | CUSIP: 68306MAA7<br>LEI: 894500EC9KLZLOC3V025 | Long             | DBT              | CORP              | CA        |    242000 | PA      | $237339.98    | 0.04%             | 2030-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Opal Bidco SAS                                                  | Opal Bidco SAS                                                  | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    471000 | PA      | $485514.34    | 0.08%             | 2032-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Open Text Corp.                                                 | Open Text Corp.                                                 | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    908000 | PA      | $885558.24    | 0.14%             | 2028-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Open Text Corp.                                                 | Open Text Corp.                                                 | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    254000 | PA      | $240875.11    | 0.04%             | 2029-12-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Open Text Holdings, Inc.                                        | Open Text Holdings, Inc.                                        | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163000 | PA      | $155399.68    | 0.02%             | 2030-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Open Text Holdings, Inc.                                        | Open Text Holdings, Inc.                                        | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    199000 | PA      | $184988.37    | 0.03%             | 2031-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Fibercop SpA                                                    | Fibercop SpA, Series 2033                                       | CUSIP: 683879AB6<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    227000 | PA      | $222299.54    | 0.03%             | 2033-11-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Fibercop SpA                                                    | Fibercop SpA                                                    | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    387000 | PA      | $363181.81    | 0.06%             | 2034-09-30      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Fibercop SpA                                                    | Fibercop SpA                                                    | CUSIP: 683879AH3<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    350000 | PA      | $347471.60    | 0.05%             | 2038-06-04      | Fixed         | 7.72%                 | Yes           |                  2 | On Loan: No      |
| Option Care Health, Inc.                                        | Option Care Health, Inc.                                        | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |    223000 | PA      | $218569.59    | 0.03%             | 2029-10-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                   | Organon & Co.                                                   | CUSIP: 68622FAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    514000 | PA      | $462546.80    | 0.07%             | 2034-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                   | Organon & Co.                                                   | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    581000 | PA      | $488583.12    | 0.08%             | 2034-05-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                   | Organon & Co.                                                   | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    926000 | PA      | $902448.39    | 0.14%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Oscar AcquisitionCo LLC                                         | Oscar AcquisitionCo LLC                                         | CUSIP: 687785AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    252000 | PA      | $126338.71    | 0.02%             | 2030-04-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| OT Midco, Inc.                                                  | OT Midco, Inc.                                                  | CUSIP: 68877AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $158520.92    | 0.02%             | 2030-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                      | Outfront Media Capital LLC                                      | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212000 | PA      | $211685.63    | 0.03%             | 2027-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                      | Outfront Media Capital LLC                                      | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    287000 | PA      | $279217.11    | 0.04%             | 2030-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                      | Outfront Media Capital LLC                                      | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    538000 | PA      | $522712.46    | 0.08%             | 2029-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Owens & Minor, Inc.                                             | Owens & Minor, Inc.                                             | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |    537000 | PA      | $344381.38    | 0.05%             | 2030-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                            | Owens-Brockway Glass Container, Inc.                            | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    677000 | PA      | $678295.10    | 0.11%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                            | Owens-Brockway Glass Container, Inc.                            | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91125.00     | 0.01%             | 2031-05-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                            | Owens-Brockway Glass Container, Inc.                            | CUSIP: 69073TAV5<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    176000 | PA      | $177064.80    | 0.03%             | 2032-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Oxford Finance LLC                                              | Oxford Finance LLC                                              | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $172802.76    | 0.03%             | 2027-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| PBF Holding Co. LLC                                             | PBF Holding Co. LLC                                             | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202000 | PA      | $199820.99    | 0.03%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PBF Holding Co. LLC                                             | PBF Holding Co. LLC                                             | CUSIP: 69318FAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $699289.72    | 0.11%             | 2030-09-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| PBF Holding Co. LLC                                             | PBF Holding Co. LLC                                             | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    183000 | PA      | $192368.24    | 0.03%             | 2030-03-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                                      | PG&E Corp.                                                      | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    798000 | PA      | $790406.87    | 0.12%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                      | PG&E Corp.                                                      | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    713000 | PA      | $737137.90    | 0.11%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| PRA Group, Inc.                                                 | PRA Group, Inc.                                                 | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    152000 | PA      | $140551.28    | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PRA Group, Inc.                                                 | PRA Group, Inc.                                                 | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    485000 | PA      | $502799.50    | 0.08%             | 2030-01-31      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| PM General Purchaser LLC                                        | PM General Purchaser LLC                                        | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    357000 | PA      | $299584.41    | 0.05%             | 2028-10-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Vibrantz Technologies, Inc.                                     | Vibrantz Technologies, Inc.                                     | CUSIP: 69357VAA3<br>LEI: 549300GYZ1T3S8OPH343 | Long             | DBT              | CORP              | US        |    328000 | PA      | $91840.00     | 0.01%             | 2030-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| PTC, Inc.                                                       | PTC, Inc.                                                       | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    215000 | PA      | $212224.35    | 0.03%             | 2028-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| PacifiCorp                                                      | PacifiCorp                                                      | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    509000 | PA      | $517572.07    | 0.08%             | 2055-09-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Pagaya US Holdings Co. LLC                                      | Pagaya US Holdings Co. LLC                                      | CUSIP: 69549FAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    233000 | PA      | $209863.92    | 0.03%             | 2030-08-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                       | Panther Escrow Issuer LLC                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1347323.64   | 0.21%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Papa John's International, Inc.                                 | Papa John's International, Inc.                                 | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |    163000 | PA      | $156488.28    | 0.02%             | 2029-09-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Paradigm Parent LLC and Paradigm Parent CO-Issuer, Inc.         | Paradigm Parent LLC and Paradigm Parent CO-Issuer, Inc.         | CUSIP: 69902PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $285086.13    | 0.04%             | 2032-04-17      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC                                  | Park Intermediate Holdings LLC                                  | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164000 | PA      | $164155.14    | 0.03%             | 2028-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC                                  | Park Intermediate Holdings LLC                                  | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    624000 | PA      | $605706.25    | 0.09%             | 2029-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC                                  | Park Intermediate Holdings LLC                                  | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    183000 | PA      | $186831.84    | 0.03%             | 2030-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Park-Ohio Industries, Inc.                                      | Park-Ohio Industries, Inc.                                      | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |    218000 | PA      | $221455.30    | 0.03%             | 2030-08-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Park River Holdings, Inc.                                       | Park River Holdings, Inc.                                       | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27892.40     | 0.00%             | 2031-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Park River Holdings, Inc.                                       | Park River Holdings, Inc.                                       | CUSIP: 70082LAD9<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |    251285 | PA      | $243118.24    | 0.04%             | 2030-12-31      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Patrick Industries, Inc.                                        | Patrick Industries, Inc.                                        | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |    343000 | PA      | $340035.59    | 0.05%             | 2029-05-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Patrick Industries, Inc.                                        | Patrick Industries, Inc.                                        | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40967.56     | 0.01%             | 2032-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Pattern Energy Operations LP                                    | Pattern Energy Operations LP                                    | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    319000 | PA      | $310869.93    | 0.05%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Paysafe Finance plc                                             | Paysafe Finance plc                                             | CUSIP: 70452AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    252000 | PA      | $228770.77    | 0.04%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Domtar Corp.                                                    | Domtar Corp.                                                    | CUSIP: 70478JAA2<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | DBT              | CORP              | US        |    314000 | PA      | $251156.20    | 0.04%             | 2028-10-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Pebblebrook Hotel LP                                            | Pebblebrook Hotel LP                                            | CUSIP: 70510LAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $177234.35    | 0.03%             | 2029-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Penn Entertainment, Inc.                                        | Penn Entertainment, Inc.                                        | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     93000 | PA      | $93208.12     | 0.01%             | 2027-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Penn Entertainment, Inc.                                        | Penn Entertainment, Inc.                                        | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $282106.15    | 0.04%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                               | PennyMac Financial Services, Inc.                               | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    457000 | PA      | $446647.94    | 0.07%             | 2029-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                               | PennyMac Financial Services, Inc.                               | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    485000 | PA      | $488820.83    | 0.08%             | 2031-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                               | PennyMac Financial Services, Inc.                               | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    681000 | PA      | $726347.55    | 0.11%             | 2029-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                               | PennyMac Financial Services, Inc.                               | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    347000 | PA      | $364205.65    | 0.06%             | 2030-11-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                               | PennyMac Financial Services, Inc.                               | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    207000 | PA      | $215457.61    | 0.03%             | 2033-02-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                   | Penske Automotive Group, Inc.                                   | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |    217000 | PA      | $209807.12    | 0.03%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Perenti Finance Pty. Ltd.                                       | Perenti Finance Pty. Ltd.                                       | CUSIP: 71367VAB5<br>LEI: 894500ZDIIAOXSQHE612 | Long             | DBT              | CORP              | AU        |    249000 | PA      | $259345.95    | 0.04%             | 2029-04-26      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                    | Performance Food Group, Inc.                                    | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $1056454.68   | 0.16%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                    | Performance Food Group, Inc.                                    | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    298000 | PA      | $306580.02    | 0.05%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    841000 | PA      | $875755.17    | 0.14%             | 2032-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                   | Perrigo Finance Unlimited Co.                                   | CUSIP: 714295AA0<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    251000 | PA      | $200528.64    | 0.03%             | 2044-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                   | Perrigo Finance Unlimited Co.                                   | CUSIP: 71429MAC9<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    457000 | PA      | $441542.07    | 0.07%             | 2030-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                   | Perrigo Finance Unlimited Co., Series USD                       | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    128000 | PA      | $124965.36    | 0.02%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC                                                    | PetSmart LLC                                                    | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1162000 | PA      | $1170898.60   | 0.18%             | 2032-09-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| PHH Escrow Issuer LLC                                           | PHH Escrow Issuer LLC                                           | CUSIP: 716964AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212000 | PA      | $216709.58    | 0.03%             | 2029-11-01      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Phinia, Inc.                                                    | Phinia, Inc.                                                    | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    223000 | PA      | $230135.33    | 0.04%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Phinia, Inc.                                                    | Phinia, Inc.                                                    | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    244000 | PA      | $252604.42    | 0.04%             | 2032-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Phoenix Aviation Capital Ltd.                                   | Phoenix Aviation Capital Ltd.                                   | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    260000 | PA      | $276590.34    | 0.04%             | 2030-07-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Shutterfly LLC                                                  | Shutterfly LLC                                                  | CUSIP: 719245AD4<br>LEI: 549300I1C8WJQ5FZE154 | Long             | DBT              | CORP              | US        |    259000 | PA      | $103600.00    | 0.02%             | 2026-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Pike Corp.                                                      | Pike Corp.                                                      | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    412000 | PA      | $410970.00    | 0.06%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Pike Corp.                                                      | Pike Corp.                                                      | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    132000 | PA      | $139551.09    | 0.02%             | 2031-01-31      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                           | Pilgrim's Pride Corp.                                           | CUSIP: 72147KAH1<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    401000 | PA      | $370878.97    | 0.06%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                           | Pilgrim's Pride Corp.                                           | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    915000 | PA      | $891281.83    | 0.14%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                           | Pilgrim's Pride Corp.                                           | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |     18000 | PA      | $19302.23     | 0.00%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                           | Pilgrim's Pride Corp.                                           | CUSIP: 72147KAL2<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    109000 | PA      | $120965.26    | 0.02%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes, Inc.                                              | Pitney Bowes, Inc.                                              | CUSIP: 724479AP5<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    265000 | PA      | $265661.71    | 0.04%             | 2027-03-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Pitney Bowes, Inc.                                              | Pitney Bowes, Inc.                                              | CUSIP: 724479AQ3<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    129000 | PA      | $129538.58    | 0.02%             | 2029-03-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Planet Financial Group LLC                                      | Planet Financial Group LLC                                      | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $272338.56    | 0.04%             | 2029-12-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Popular, Inc.                                                   | Popular, Inc.                                                   | CUSIP: 733174AL0<br>LEI: 5493008CARDZMVQ3LO89 | Long             | DBT              | CORP              | PR        |    162000 | PA      | $169866.23    | 0.03%             | 2028-03-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    214000 | PA      | $214037.06    | 0.03%             | 2029-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   1168000 | PA      | $1137648.82   | 0.18%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    799000 | PA      | $753428.56    | 0.12%             | 2031-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    694000 | PA      | $716601.50    | 0.11%             | 2032-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18281.56     | 0.00%             | 2034-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Prairie Acquiror LP                                             | Prairie Acquiror LP                                             | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |    239000 | PA      | $247044.50    | 0.04%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Precision Drilling Corp.                                        | Precision Drilling Corp.                                        | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    178000 | PA      | $179063.37    | 0.03%             | 2029-01-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Premier Entertainment Sub LLC                                   | Premier Entertainment Sub LLC                                   | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    319000 | PA      | $169637.41    | 0.03%             | 2029-09-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Premier Entertainment Sub LLC                                   | Premier Entertainment Sub LLC                                   | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $165000.00    | 0.03%             | 2031-09-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                           | Prestige Brands, Inc.                                           | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |     26000 | PA      | $25976.76     | 0.00%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                           | Prestige Brands, Inc.                                           | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    418000 | PA      | $389506.44    | 0.06%             | 2031-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Prime Healthcare Services, Inc.                                 | Prime Healthcare Services, Inc.                                 | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    728000 | PA      | $771825.60    | 0.12%             | 2029-09-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                            | Prime Security Services Borrower LLC                            | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    408000 | PA      | $398298.62    | 0.06%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                        | ADT Security Corp. (The)                                        | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    716000 | PA      | $694039.49    | 0.11%             | 2032-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                      | Primo Water Holdings, Inc.                                      | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    109000 | PA      | $105709.56    | 0.02%             | 2029-04-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                      | Primo Water Holdings, Inc.                                      | CUSIP: 74168RAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $523048.76    | 0.08%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| PROG Holdings, Inc.                                             | PROG Holdings, Inc.                                             | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |    294000 | PA      | $289319.52    | 0.04%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Prospect Capital Corp.                                          | Prospect Capital Corp.                                          | CUSIP: 74348TAV4<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |    225000 | PA      | $216621.68    | 0.03%             | 2026-11-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| Prospect Capital Corp.                                          | Prospect Capital Corp.                                          | CUSIP: 74348TAW2<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |     96000 | PA      | $84897.74     | 0.01%             | 2028-10-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Provident Funding Associates LP                                 | Provident Funding Associates LP                                 | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    317000 | PA      | $333864.40    | 0.05%             | 2029-09-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| QVC, Inc.                                                       | QVC, Inc.                                                       | CUSIP: 747262AM5<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    127000 | PA      | $49618.34     | 0.01%             | 2043-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| QVC, Inc.                                                       | QVC, Inc.                                                       | CUSIP: 747262AW3<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    449000 | PA      | $179600.00    | 0.03%             | 2034-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                         | Qnity Electronics, Inc.                                         | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22579.06     | 0.00%             | 2032-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                         | Qnity Electronics, Inc.                                         | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    751000 | PA      | $778285.33    | 0.12%             | 2033-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| QXO Building Products, Inc.                                     | QXO Building Products, Inc.                                     | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    973000 | PA      | $1016119.47   | 0.16%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                             | Rocket Mortgage LLC                                             | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    306000 | PA      | $295559.59    | 0.05%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                             | Rocket Mortgage LLC                                             | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    428000 | PA      | $404786.05    | 0.06%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                         | Quikrete Holdings, Inc.                                         | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   2347000 | PA      | $2437113.07   | 0.38%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                         | Quikrete Holdings, Inc.                                         | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    122000 | PA      | $127030.91    | 0.02%             | 2033-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $119722.55    | 0.02%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    699000 | PA      | $689539.59    | 0.11%             | 2029-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    331000 | PA      | $341476.15    | 0.05%             | 2028-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    342000 | PA      | $354451.19    | 0.05%             | 2032-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74000 | PA      | $76898.43     | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| RLJ Lodging Trust LP                                            | RLJ Lodging Trust LP                                            | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              | CORP              | US        |    395000 | PA      | $373274.28    | 0.06%             | 2029-09-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Rfna LP                                                         | Rfna LP                                                         | CUSIP: 74984AAA0<br>LEI: 2549002A4GSOTYKKHR45 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253456.25    | 0.04%             | 2030-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Rackspace Finance LLC                                           | Rackspace Finance LLC                                           | CUSIP: 75008WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    137000 | PA      | $55394.16     | 0.01%             | 2028-05-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Radiate Holdco LLC                                              | Radiate Holdco LLC                                              | CUSIP: 75026JAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    228070 | PA      | $169965.00    | 0.03%             | 2029-09-25      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Radiate Holdco LLC                                              | Radiate Holdco LLC                                              | CUSIP: 75026JAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315864 | PA      | $162005.07    | 0.03%             | 2030-03-25      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Radiology Partners, Inc.                                        | Radiology Partners, Inc.                                        | CUSIP: 75041VAC8<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    440666 | PA      | $426344.36    | 0.07%             | 2030-02-15      | Fixed         | 9.78%                 | Yes           |                  2 | On Loan: No      |
| Radiology Partners, Inc.                                        | Radiology Partners, Inc.                                        | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    282000 | PA      | $292927.50    | 0.05%             | 2032-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Rain Carbon, Inc.                                               | Rain Carbon, Inc.                                               | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |    231000 | PA      | $238365.67    | 0.04%             | 2029-09-01      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Railworks Holdings LP                                           | Railworks Holdings LP                                           | CUSIP: 75079MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    208000 | PA      | $208632.32    | 0.03%             | 2028-11-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                             | Rakuten Group, Inc.                                             | CUSIP: 75102WAB4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    230000 | PA      | $217258.02    | 0.03%             | 2031-04-22      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                             | Rakuten Group, Inc.                                             | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    826000 | PA      | $884842.89    | 0.14%             | 2027-02-15      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                             | Rakuten Group, Inc.                                             | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    803000 | PA      | $892286.77    | 0.14%             | 2029-04-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                             | Rakuten Group, Inc.                                             | CUSIP: 75102WAM0<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    403000 | PA      | $414078.91    | 0.06%             | 2029-12-15      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Range Resources Corp.                                           | Range Resources Corp.                                           | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    424000 | PA      | $432468.13    | 0.07%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp.                                           | Range Resources Corp.                                           | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     93000 | PA      | $91760.96     | 0.01%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Rand Parent LLC                                                 | Rand Parent LLC                                                 | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $454034.24    | 0.07%             | 2030-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                                  | Raven Acquisition Holdings LLC                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    562000 | PA      | $577731.50    | 0.09%             | 2031-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Real Hero Merger Sub 2, Inc.                                    | Real Hero Merger Sub 2, Inc.                                    | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    431000 | PA      | $191375.59    | 0.03%             | 2029-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                                  | Anywhere Real Estate Group LLC                                  | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $90402.12     | 0.01%             | 2029-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                                  | Anywhere Real Estate Group LLC                                  | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    395000 | PA      | $368145.29    | 0.06%             | 2030-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                                  | Anywhere Real Estate Group LLC                                  | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    517000 | PA      | $519188.46    | 0.08%             | 2030-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| SPX FLOW, Inc.                                                  | SPX FLOW, Inc.                                                  | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |    192000 | PA      | $197336.45    | 0.03%             | 2030-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Upbound Group, Inc.                                             | Upbound Group, Inc.                                             | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |    233000 | PA      | $227518.47    | 0.04%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Resideo Funding, Inc.                                           | Resideo Funding, Inc.                                           | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    396000 | PA      | $405407.38    | 0.06%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Resorts World Las Vegas LLC                                     | Resorts World Las Vegas LLC                                     | CUSIP: 76120HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $175578.00    | 0.03%             | 2029-04-16      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Resorts World Las Vegas LLC                                     | Resorts World Las Vegas LLC                                     | CUSIP: 76120HAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $412540.00    | 0.06%             | 2031-04-06      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| RingCentral, Inc.                                               | RingCentral, Inc.                                               | CUSIP: 76680RAJ6<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |    167000 | PA      | $177699.86    | 0.03%             | 2030-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| RB Global Holdings, Inc.                                        | RB Global Holdings, Inc.                                        | CUSIP: 76774LAB3<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    405000 | PA      | $414645.08    | 0.06%             | 2028-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| RB Global Holdings, Inc.                                        | RB Global Holdings, Inc.                                        | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    207000 | PA      | $216955.25    | 0.03%             | 2031-03-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Rite Aid Corp.                                                  | Rite Aid Corp.                                                  | CUSIP: 767754CR3<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |     29119 | PA      | $0.00         | 0.00%             | 2031-08-30      | Variable      | 11.32%                | Yes           |                  3 | On Loan: No      |
| Rite Aid Corp.                                                  | Rite Aid Corp., Series A                                        | CUSIP: 767754CS1<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |     84019 | PA      | $0.00         | 0.00%             | 2031-08-30      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| Rite Aid Corp.                                                  | Rite Aid Corp., Series B                                        | CUSIP: 767754CT9<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |     39743 | PA      | $0.00         | 0.00%             | 2031-08-30      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| Rite Aid Corp.                                                  | Rite Aid Corp.                                                  | CUSIP: 767ESCAC0<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | USGA              | US        |    279000 | PA      | $0.00         | 0.00%             | 2026-11-15      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| Rite Aid Corp.                                                  | Rite Aid Corp., Escrow                                          | CUSIP: 767ESCAG1<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | USGA              | US        |     78094 | PA      | $0.00         | 0.00%             | 2025-10-18      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| Rivers Enterprise Borrower LLC                                  | Rivers Enterprise Borrower LLC                                  | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $263441.88    | 0.04%             | 2033-02-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ROBLOX Corp.                                                    | ROBLOX Corp.                                                    | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    521000 | PA      | $498143.00    | 0.08%             | 2030-05-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| TGNR Intermediate Holdings LLC                                  | TGNR Intermediate Holdings LLC                                  | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    338000 | PA      | $331038.78    | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                               | Rocket Cos., Inc.                                               | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1363000 | PA      | $1414878.51   | 0.22%             | 2030-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                               | Rocket Cos., Inc.                                               | CUSIP: 77311WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $240651.98    | 0.04%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                               | Rocket Cos., Inc.                                               | CUSIP: 77311WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $599282.04    | 0.09%             | 2032-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                             | Rocket Mortgage LLC                                             | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    961000 | PA      | $890358.43    | 0.14%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Rocket Software, Inc.                                           | Rocket Software, Inc.                                           | CUSIP: 77314EAA6<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |    573000 | PA      | $557936.69    | 0.09%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Software, Inc.                                           | Rocket Software, Inc.                                           | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |     48000 | PA      | $49453.78     | 0.01%             | 2028-11-28      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                    | Rockies Express Pipeline LLC                                    | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    637000 | PA      | $662223.29    | 0.10%             | 2040-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                    | Rockies Express Pipeline LLC                                    | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     87000 | PA      | $87028.54     | 0.01%             | 2029-07-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                    | Rockies Express Pipeline LLC                                    | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    217000 | PA      | $212674.67    | 0.03%             | 2030-05-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                     | Rogers Communications, Inc.                                     | CUSIP: 775109BS9<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    605000 | PA      | $601649.99    | 0.09%             | 2082-03-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                     | Rogers Communications, Inc., Series NC5                         | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     53000 | PA      | $55088.41     | 0.01%             | 2055-04-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                     | Rogers Communications, Inc.                                     | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    680000 | PA      | $719817.37    | 0.11%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Roller Bearing Co. of America, Inc.                             | Roller Bearing Co. of America, Inc.                             | CUSIP: 775631AD6<br>LEI: 254900U9XW6S76H2P167 | Long             | DBT              | CORP              | US        |    234000 | PA      | $230462.01    | 0.04%             | 2029-10-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty LLC                                              | Ryan Specialty LLC                                              | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    648000 | PA      | $662415.41    | 0.10%             | 2032-08-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty LLC                                              | Ryan Specialty LLC                                              | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     58000 | PA      | $56819.05     | 0.01%             | 2030-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                        | SBA Communications Corp.                                        | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39809.03     | 0.01%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                        | SBA Communications Corp.                                        | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1256914.87   | 0.19%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SESI LLC                                                        | SESI LLC                                                        | CUSIP: 78412FAX2<br>LEI: XDZ56K6RXS5J1ESBZS35 | Long             | DBT              | CORP              | US        |    184000 | PA      | $183085.89    | 0.03%             | 2030-09-30      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                        | SCIH Salt Holdings, Inc.                                        | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    499000 | PA      | $496750.26    | 0.08%             | 2028-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                        | SCIH Salt Holdings, Inc.                                        | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $281204.00    | 0.04%             | 2029-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Navient Corp.                                                   | Navient Corp.                                                   | CUSIP: 78442FAZ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    929000 | PA      | $837216.75    | 0.13%             | 2033-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SLM Corp.                                                       | SLM Corp.                                                       | CUSIP: 78442PGE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    369000 | PA      | $362076.56    | 0.06%             | 2026-11-02      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SLM Corp.                                                       | SLM Corp.                                                       | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $88598.90     | 0.01%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                   | SM Energy Co.                                                   | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    233000 | PA      | $233269.12    | 0.04%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                   | SM Energy Co.                                                   | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    770000 | PA      | $778823.43    | 0.12%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                   | SM Energy Co.                                                   | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     86000 | PA      | $84141.84     | 0.01%             | 2032-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                         | SS&C Technologies, Inc.                                         | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    272000 | PA      | $271956.37    | 0.04%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                         | SS&C Technologies, Inc.                                         | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    922000 | PA      | $959517.10    | 0.15%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SNF Group SACA                                                  | SNF Group SACA                                                  | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    321000 | PA      | $298969.77    | 0.05%             | 2030-03-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| SWF Holdings I Corp.                                            | SWF Holdings I Corp.                                            | CUSIP: 78500AAA6<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | DBT              | CORP              | US        |     48000 | PA      | $16800.00     | 0.00%             | 2029-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| S&S Holdings LLC                                                | S&S Holdings LLC                                                | CUSIP: 78525CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    347000 | PA      | $326429.22    | 0.05%             | 2031-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                | Sabre GLBL, Inc.                                                | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    184000 | PA      | $186172.06    | 0.03%             | 2027-06-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                | Sabre GLBL, Inc.                                                | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     85000 | PA      | $74802.62     | 0.01%             | 2029-11-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                | Sabre GLBL, Inc.                                                | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    806000 | PA      | $697141.64    | 0.11%             | 2030-07-15      | Fixed         | 11.12%                | Yes           |                  2 | On Loan: No      |
| Safeway, Inc.                                                   | Safeway, Inc.                                                   | CUSIP: 786514BA6<br>LEI: 549300NKZ6VCN5P3K723 | Long             | DBT              | CORP              | US        |    106000 | PA      | $115509.79    | 0.02%             | 2031-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Saks Global Enterprises LLC                                     | Saks Global Enterprises LLC                                     | CUSIP: 79380MAB1<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |    469000 | PA      | $162510.00    | 0.03%             | 2029-12-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Sally Holdings LLC                                              | Sally Holdings LLC                                              | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    267000 | PA      | $279296.42    | 0.04%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Saturn Oil & Gas, Inc.                                          | Saturn Oil & Gas, Inc.                                          | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |    301000 | PA      | $306119.41    | 0.05%             | 2029-06-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Mativ Holdings, Inc.                                            | Mativ Holdings, Inc.                                            | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200357.20    | 0.03%             | 2029-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Science Applications International Corp.                        | Science Applications International Corp.                        | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    289000 | PA      | $287048.18    | 0.04%             | 2028-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Scientific Games Holdings LP                                    | Scientific Games Holdings LP                                    | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    343000 | PA      | $302870.68    | 0.05%             | 2030-03-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Light & Wonder International, Inc.                              | Light & Wonder International, Inc.                              | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    253000 | PA      | $259842.64    | 0.04%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                    | Scotts Miracle-Gro Co. (The)                                    | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    511000 | PA      | $477781.99    | 0.07%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                    | Scotts Miracle-Gro Co. (The)                                    | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    170000 | PA      | $158918.86    | 0.02%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EW Scripps Co. (The)                                            | EW Scripps Co. (The)                                            | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49380.19     | 0.01%             | 2030-08-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                         | Scripps Escrow II, Inc.                                         | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    473000 | PA      | $440180.09    | 0.07%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                         | Scripps Escrow II, Inc.                                         | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268000 | PA      | $207549.85    | 0.03%             | 2031-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Seadrill Finance Ltd.                                           | Seadrill Finance Ltd.                                           | CUSIP: 81172QAA2<br>LEI: 213800WMN3OHFUDHD642 | Long             | DBT              | CORP              | BM        |    399000 | PA      | $412387.65    | 0.06%             | 2030-08-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                       | Seagate Data Storage Technology Pte. Ltd.                       | CUSIP: 81180LAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    648000 | PA      | $632132.04    | 0.10%             | 2029-06-01      | Fixed         | 4.09%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                       | Seagate Data Storage Technology Pte. Ltd.                       | CUSIP: 81180LAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    289000 | PA      | $328682.59    | 0.05%             | 2032-12-01      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                       | Seagate Data Storage Technology Pte. Ltd.                       | CUSIP: 81180LAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    381000 | PA      | $391660.00    | 0.06%             | 2034-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                                | Sealed Air Corp.                                                | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    597000 | PA      | $628521.60    | 0.10%             | 2033-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                                | Sealed Air Corp.                                                | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    498000 | PA      | $506407.73    | 0.08%             | 2028-02-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                                | Sealed Air Corp.                                                | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    128000 | PA      | $132490.74    | 0.02%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SeaWorld Parks & Entertainment, Inc.                            | SeaWorld Parks & Entertainment, Inc.                            | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |    371000 | PA      | $358885.81    | 0.06%             | 2029-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Select Medical Corp.                                            | Select Medical Corp.                                            | CUSIP: 816196AV1<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |    245000 | PA      | $243270.49    | 0.04%             | 2032-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Diversified Healthcare Trust                                    | Diversified Healthcare Trust                                    | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    238000 | PA      | $228274.06    | 0.04%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                                         | Sensata Technologies BV                                         | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    540000 | PA      | $547421.76    | 0.08%             | 2030-09-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                      | Sensata Technologies, Inc.                                      | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    377000 | PA      | $367266.61    | 0.06%             | 2030-02-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                      | Sensata Technologies, Inc.                                      | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    151000 | PA      | $141208.24    | 0.02%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                     | Service Corp. International                                     | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1004000 | PA      | $940840.27    | 0.15%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                     | Service Corp. International                                     | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    208000 | PA      | $198574.13    | 0.03%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                     | Service Corp. International                                     | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    453000 | PA      | $462247.54    | 0.07%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                        | Service Properties Trust                                        | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    676000 | PA      | $662180.67    | 0.10%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                        | Service Properties Trust                                        | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    561000 | PA      | $540317.00    | 0.08%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                        | Service Properties Trust                                        | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    241000 | PA      | $214719.53    | 0.03%             | 2027-09-30      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Shea Homes LP                                                   | Shea Homes LP                                                   | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $318962.50    | 0.05%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments LLC                                             | Shift4 Payments LLC                                             | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $800347.24    | 0.12%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Shutterfly Finance LLC                                          | Shutterfly Finance LLC                                          | CUSIP: 82568NAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    289000 | PA      | $275272.50    | 0.04%             | 2027-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Signal Parent, Inc.                                             | Signal Parent, Inc.                                             | CUSIP: 82666QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    107000 | PA      | $36380.00     | 0.01%             | 2029-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                                           | Silgan Holdings, Inc.                                           | CUSIP: 827048AW9<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    274000 | PA      | $271110.64    | 0.04%             | 2028-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Simmons Foods, Inc.                                             | Simmons Foods, Inc.                                             | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    464000 | PA      | $446166.30    | 0.07%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                 | Sinclair Television Group, Inc.                                 | CUSIP: 829259BG4<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    236000 | PA      | $257240.00    | 0.04%             | 2033-02-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                 | Sinclair Television Group, Inc.                                 | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    740000 | PA      | $770909.80    | 0.12%             | 2033-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                             | Sirius XM Radio LLC                                             | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1269000 | PA      | $1269284.26   | 0.20%             | 2027-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                             | Sirius XM Radio LLC                                             | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    859000 | PA      | $863419.56    | 0.13%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                             | Sirius XM Radio LLC                                             | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    640000 | PA      | $605993.66    | 0.09%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                             | Sirius XM Radio LLC                                             | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    673000 | PA      | $656062.68    | 0.10%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                   | Six Flags Entertainment Corp.                                   | CUSIP: 83001AAC6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |    434000 | PA      | $428441.86    | 0.07%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                   | Six Flags Entertainment Corp.                                   | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |    750000 | PA      | $715151.23    | 0.11%             | 2031-05-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                   | Six Flags Entertainment Corp.                                   | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    430000 | PA      | $428949.76    | 0.07%             | 2032-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                                   | Smyrna Ready Mix Concrete LLC                                   | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    889000 | PA      | $943543.71    | 0.15%             | 2031-11-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                                      | Snap, Inc.                                                      | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    681000 | PA      | $701521.94    | 0.11%             | 2033-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                                      | Snap, Inc.                                                      | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    205000 | PA      | $209551.41    | 0.03%             | 2034-03-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Solstice Advanced Materials, Inc.                               | Solstice Advanced Materials, Inc.                               | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    152000 | PA      | $152831.74    | 0.02%             | 2033-09-30      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                          | Sonic Automotive, Inc.                                          | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43020.46     | 0.01%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                          | Sonic Automotive, Inc.                                          | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    473000 | PA      | $455238.52    | 0.07%             | 2031-11-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Sotheby's                                                       | Sotheby's                                                       | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |    282000 | PA      | $280756.30    | 0.04%             | 2027-10-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Sotheby's                                                       | Sotheby's                                                       | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    203000 | PA      | $190931.12    | 0.03%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                      | Sotera Health Holdings LLC                                      | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    325000 | PA      | $342278.66    | 0.05%             | 2031-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd.                 | South Bow Canadian Infrastructure Holdings Ltd.                 | CUSIP: 836720AG7<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    212000 | PA      | $219682.24    | 0.03%             | 2055-03-01      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd.                 | South Bow Canadian Infrastructure Holdings Ltd.                 | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    276000 | PA      | $292730.57    | 0.05%             | 2055-03-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Specialty Building Products Holdings LLC                        | Specialty Building Products Holdings LLC                        | CUSIP: 84749AAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    244000 | PA      | $241326.42    | 0.04%             | 2029-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Speedway Motorsports LLC                                        | Speedway Motorsports LLC                                        | CUSIP: 84779MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    152000 | PA      | $151304.37    | 0.02%             | 2027-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    864000 | PA      | $861174.98    | 0.13%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                        | Spirit AeroSystems, Inc.                                        | CUSIP: 85205TAK6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    138000 | PA      | $138722.15    | 0.02%             | 2028-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                        | Spirit AeroSystems, Inc.                                        | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    353000 | PA      | $370710.32    | 0.06%             | 2029-11-30      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                        | Spirit AeroSystems, Inc.                                        | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    587000 | PA      | $643124.16    | 0.10%             | 2030-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                     | Block, Inc.                                                     | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $975581.88    | 0.15%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Block, Inc.                                                     | Block, Inc.                                                     | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1431750.01   | 0.22%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                                   | Smyrna Ready Mix Concrete LLC                                   | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20045.14     | 0.00%             | 2028-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                          | Standard Chartered plc                                          | CUSIP: 853254AB6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $315017.10    | 0.05%             | 2037-07-30      | Variable      | 7.01%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                       | Standard Industries, Inc.                                       | CUSIP: 853496AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    713000 | PA      | $711034.90    | 0.11%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                       | Standard Industries, Inc.                                       | CUSIP: 853496AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1057000 | PA      | $1024902.08   | 0.16%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                       | Standard Industries, Inc.                                       | CUSIP: 853496AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    881000 | PA      | $808293.62    | 0.13%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Star Leasing Co. LLC                                            | Star Leasing Co. LLC                                            | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |    533000 | PA      | $509198.83    | 0.08%             | 2030-02-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                                   | Staples, Inc.                                                   | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    990000 | PA      | $973012.49    | 0.15%             | 2029-09-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                                   | Staples, Inc.                                                   | CUSIP: 855030AS1<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    441520 | PA      | $348003.15    | 0.05%             | 2030-01-15      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| Star Holding LLC                                                | Star Holding LLC                                                | CUSIP: 85513AAA6<br>LEI: 254900BDGPE9N1WAKD59 | Long             | DBT              | CORP              | US        |    152000 | PA      | $153447.24    | 0.02%             | 2031-08-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Star Parent, Inc.                                               | Star Parent, Inc.                                               | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    505000 | PA      | $541208.50    | 0.08%             | 2030-10-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                   | Starwood Property Trust, Inc.                                   | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    631000 | PA      | $626142.69    | 0.10%             | 2026-07-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                   | Starwood Property Trust, Inc.                                   | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    531000 | PA      | $527570.22    | 0.08%             | 2027-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                   | Starwood Property Trust, Inc.                                   | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    238000 | PA      | $244996.72    | 0.04%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                   | Starwood Property Trust, Inc.                                   | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    112000 | PA      | $116920.16    | 0.02%             | 2030-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                   | Starwood Property Trust, Inc.                                   | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     98000 | PA      | $98669.83     | 0.02%             | 2028-10-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Station Casinos LLC                                             | Station Casinos LLC                                             | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    190000 | PA      | $187935.29    | 0.03%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Station Casinos LLC                                             | Station Casinos LLC                                             | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    184000 | PA      | $174114.30    | 0.03%             | 2031-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Station Casinos LLC                                             | Station Casinos LLC                                             | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    413000 | PA      | $422962.39    | 0.07%             | 2032-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Steelcase, Inc.                                                 | Steelcase, Inc.                                                 | CUSIP: 858155AE4<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | DBT              | CORP              | US        |    218000 | PA      | $213577.19    | 0.03%             | 2029-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Stena International SA                                          | Stena International SA                                          | CUSIP: 85858EAD5<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    528000 | PA      | $538134.96    | 0.08%             | 2031-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| STL Holding Co. LLC                                             | STL Holding Co. LLC                                             | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    121000 | PA      | $127584.59    | 0.02%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| StoneMor, Inc.                                                  | StoneMor, Inc.                                                  | CUSIP: 86184WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $175766.81    | 0.03%             | 2029-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| StoneX Group, Inc.                                              | StoneX Group, Inc.                                              | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    502000 | PA      | $531702.34    | 0.08%             | 2031-03-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                                       | Stonepeak Nile Parent LLC                                       | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |    253000 | PA      | $267392.66    | 0.04%             | 2032-03-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Suburban Propane Partners LP                                    | Suburban Propane Partners LP                                    | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    442000 | PA      | $424258.34    | 0.07%             | 2031-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Summit Midstream Holdings LLC                                   | Summit Midstream Holdings LLC                                   | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    354000 | PA      | $365288.00    | 0.06%             | 2029-10-31      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| SunCoke Energy, Inc.                                            | SunCoke Energy, Inc.                                            | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |    237000 | PA      | $216842.23    | 0.03%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    278000 | PA      | $286696.67    | 0.04%             | 2028-09-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    174000 | PA      | $181122.00    | 0.03%             | 2029-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    261000 | PA      | $268079.02    | 0.04%             | 2033-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15085.34     | 0.00%             | 2031-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    803000 | PA      | $808172.93    | 0.13%             | 2034-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAJ8<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    324000 | PA      | $315683.31    | 0.05%             | 2029-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAK5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    826000 | PA      | $805216.44    | 0.12%             | 2030-05-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAL3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59794.06     | 0.01%             | 2032-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    146000 | PA      | $146463.84    | 0.02%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    461000 | PA      | $461725.15    | 0.07%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    795000 | PA      | $779166.62    | 0.12%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    406000 | PA      | $395310.23    | 0.06%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Superior Plus LP                                                | Superior Plus LP                                                | CUSIP: 86828LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    347000 | PA      | $335619.89    | 0.05%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                                   | Surgery Center Holdings, Inc.                                   | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    379000 | PA      | $388936.62    | 0.06%             | 2032-04-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Synaptics, Inc.                                                 | Synaptics, Inc.                                                 | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |    173000 | PA      | $166203.83    | 0.03%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Synchrony Financial                                             | Synchrony Financial                                             | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    354000 | PA      | $379253.49    | 0.06%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TGS ASA                                                         | TGS ASA                                                         | CUSIP: 87243KAA7<br>LEI: 549300NUPLAXPB0WYH90 | Long             | DBT              | CORP              | NO        |    169000 | PA      | $175231.19    | 0.03%             | 2030-01-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TKC Holdings, Inc.                                              | TKC Holdings, Inc.                                              | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254000 | PA      | $260479.29    | 0.04%             | 2029-05-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| TKC Holdings, Inc.                                              | TKC Holdings, Inc.                                              | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $206526.84    | 0.03%             | 2028-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TMS International Corp.                                         | TMS International Corp.                                         | CUSIP: 87261QAC7<br>LEI: 549300L4K0F1YF8WKF23 | Long             | DBT              | CORP              | US        |    157000 | PA      | $151112.60    | 0.02%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Tri Pointe Homes, Inc.                                          | Tri Pointe Homes, Inc.                                          | CUSIP: 87265HAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $84636.55     | 0.01%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tri Pointe Homes, Inc.                                          | Tri Pointe Homes, Inc.                                          | CUSIP: 87265HAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    198000 | PA      | $200483.51    | 0.03%             | 2028-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TTM Technologies, Inc.                                          | TTM Technologies, Inc.                                          | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |    267000 | PA      | $258605.33    | 0.04%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                         | Talen Energy Supply LLC                                         | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    663000 | PA      | $702872.16    | 0.11%             | 2030-06-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                         | Talen Energy Supply LLC                                         | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    458000 | PA      | $466667.19    | 0.07%             | 2034-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                         | Talen Energy Supply LLC                                         | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    664000 | PA      | $686499.83    | 0.11%             | 2036-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286000 | PA      | $285837.32    | 0.04%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    361000 | PA      | $359796.64    | 0.06%             | 2030-12-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $192727.47    | 0.03%             | 2031-09-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    153000 | PA      | $158755.25    | 0.02%             | 2029-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    612000 | PA      | $612723.38    | 0.10%             | 2034-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Talos Production, Inc.                                          | Talos Production, Inc.                                          | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    422000 | PA      | $440131.23    | 0.07%             | 2029-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Talos Production, Inc.                                          | Talos Production, Inc.                                          | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    113000 | PA      | $119073.98    | 0.02%             | 2031-02-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Taseko Mines Ltd.                                               | Taseko Mines Ltd.                                               | CUSIP: 876511AG1<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |    241000 | PA      | $255570.14    | 0.04%             | 2030-05-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Taylor Morrison Communities, Inc.                               | Taylor Morrison Communities, Inc.                               | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    571000 | PA      | $573591.20    | 0.09%             | 2030-08-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Team Health Holdings, Inc.                                      | Team Health Holdings, Inc.                                      | CUSIP: 87817AAE7<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |    254000 | PA      | $256130.30    | 0.04%             | 2028-06-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                                     | TEGNA, Inc.                                                     | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    884000 | PA      | $875831.66    | 0.14%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEGNA, Inc.                                                     | TEGNA, Inc.                                                     | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12842.97     | 0.00%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Teine Energy Ltd.                                               | Teine Energy Ltd.                                               | CUSIP: 879068AB0<br>LEI: 894500JBC83AX7PYEU16 | Long             | DBT              | CORP              | CA        |    242000 | PA      | $241969.97    | 0.04%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                       | Telecom Italia Capital SA                                       | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |      5000 | PA      | $5135.59      | 0.00%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                       | Telecom Italia Capital SA                                       | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     87000 | PA      | $94606.06     | 0.01%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                       | Telecom Italia Capital SA                                       | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    750000 | PA      | $830135.25    | 0.13%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| Teleflex, Inc.                                                  | Teleflex, Inc.                                                  | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    323000 | PA      | $321270.66    | 0.05%             | 2027-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Teleflex, Inc.                                                  | Teleflex, Inc.                                                  | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103577.46    | 0.02%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Telesat Canada                                                  | Telesat Canada                                                  | CUSIP: 87952VAR7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    255000 | PA      | $184875.00    | 0.03%             | 2026-12-06      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| TELUS Corp.                                                     | TELUS Corp.                                                     | CUSIP: 87971MCL5<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    134000 | PA      | $137328.39    | 0.02%             | 2055-10-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                     | TELUS Corp.                                                     | CUSIP: 87971MCM3<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    532000 | PA      | $555344.16    | 0.09%             | 2055-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Somnigroup International, Inc.                                  | Somnigroup International, Inc.                                  | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    598000 | PA      | $582273.62    | 0.09%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Somnigroup International, Inc.                                  | Somnigroup International, Inc.                                  | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     83000 | PA      | $77655.83     | 0.01%             | 2031-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    636000 | PA      | $689498.41    | 0.11%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     41000 | PA      | $41003.98     | 0.01%             | 2027-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    383000 | PA      | $383162.01    | 0.06%             | 2028-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    484000 | PA      | $486095.72    | 0.08%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1159000 | PA      | $1136033.37   | 0.18%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    348000 | PA      | $341009.97    | 0.05%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                          | Tenet Healthcare Corp.                                          | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   2091000 | PA      | $2178575.26   | 0.34%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Tenneco, Inc.                                                   | Tenneco, Inc.                                                   | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    856000 | PA      | $855752.79    | 0.13%             | 2028-11-17      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Terex Corp.                                                     | Terex Corp.                                                     | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    573000 | PA      | $569265.36    | 0.09%             | 2029-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Terex Corp.                                                     | Terex Corp.                                                     | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137830.01    | 0.02%             | 2032-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                   | TerraForm Power Operating LLC                                   | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    412000 | PA      | $411279.21    | 0.06%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                   | TerraForm Power Operating LLC                                   | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    190000 | PA      | $182657.03    | 0.03%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Thor Industries, Inc.                                           | Thor Industries, Inc.                                           | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |    217000 | PA      | $207680.50    | 0.03%             | 2029-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   2337000 | PA      | $2355770.25   | 0.37%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Tidewater, Inc.                                                 | Tidewater, Inc.                                                 | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |    281000 | PA      | $300418.79    | 0.05%             | 2030-07-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Titan International, Inc.                                       | Titan International, Inc.                                       | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |    254000 | PA      | $255119.12    | 0.04%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Toledo Hospital (The)                                           | Toledo Hospital (The), Series B                                 | CUSIP: 889184AC1<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132280.45    | 0.02%             | 2028-11-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Topaz Solar Farms LLC                                           | Topaz Solar Farms LLC                                           | CUSIP: 89054XAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66602 | PA      | $66868.07     | 0.01%             | 2039-09-30      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TopBuild Corp.                                                  | TopBuild Corp.                                                  | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    761000 | PA      | $725592.57    | 0.11%             | 2032-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Toucan FinCo. Ltd.                                              | Toucan FinCo. Ltd.                                              | CUSIP: 89157UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    687000 | PA      | $648891.77    | 0.10%             | 2030-05-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| TransAlta Corp.                                                 | TransAlta Corp.                                                 | CUSIP: 89346DAE7<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |    317000 | PA      | $318814.35    | 0.05%             | 2040-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    240000 | PA      | $237048.84    | 0.04%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    973000 | PA      | $966908.14    | 0.15%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    744000 | PA      | $759211.08    | 0.12%             | 2028-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1342000 | PA      | $1399013.53   | 0.22%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    737000 | PA      | $772666.38    | 0.12%             | 2031-12-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1016000 | PA      | $1056002.97   | 0.16%             | 2032-03-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    963000 | PA      | $984671.35    | 0.15%             | 2033-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1738000 | PA      | $1781443.05   | 0.28%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60136.66     | 0.01%             | 2034-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| TransMontaigne Partners LLC                                     | TransMontaigne Partners LLC                                     | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    253000 | PA      | $258683.14    | 0.04%             | 2030-06-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Transocean Aquila Ltd.                                          | Transocean Aquila Ltd.                                          | CUSIP: 893790AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     59292 | PA      | $60859.23     | 0.01%             | 2028-09-30      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Transocean International Ltd.                                   | Transocean International Ltd.                                   | CUSIP: 893814AA1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    334000 | PA      | $348164.98    | 0.05%             | 2032-10-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Transocean International Ltd.                                   | Transocean International Ltd.                                   | CUSIP: 893830AF6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    282000 | PA      | $270817.46    | 0.04%             | 2031-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Transocean International Ltd.                                   | Transocean International Ltd.                                   | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    353000 | PA      | $316142.56    | 0.05%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Transocean International Ltd.                                   | Transocean International Ltd.                                   | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    652000 | PA      | $663225.48    | 0.10%             | 2029-05-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Transocean Titan Financing Ltd.                                 | Transocean Titan Financing Ltd.                                 | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    339190 | PA      | $348517.29    | 0.05%             | 2028-02-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| TreeHouse Foods, Inc.                                           | TreeHouse Foods, Inc.                                           | CUSIP: 89469AAD6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |    217000 | PA      | $214843.65    | 0.03%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Trident TPI Holdings, Inc.                                      | Trident TPI Holdings, Inc.                                      | CUSIP: 89616RAC3<br>LEI: 549300TPLK304J3RNC85 | Long             | DBT              | CORP              | US        |    281000 | PA      | $282813.29    | 0.04%             | 2028-12-31      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| TriMas Corp.                                                    | TriMas Corp.                                                    | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |    174000 | PA      | $170736.73    | 0.03%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| TriNet Group, Inc.                                              | TriNet Group, Inc.                                              | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    185000 | PA      | $174565.37    | 0.03%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| TriNet Group, Inc.                                              | TriNet Group, Inc.                                              | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    201000 | PA      | $208011.08    | 0.03%             | 2031-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Trinity Industries, Inc.                                        | Trinity Industries, Inc.                                        | CUSIP: 896522AJ8<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | DBT              | CORP              | US        |    258000 | PA      | $268659.27    | 0.04%             | 2028-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Luxco Finance SPV SARL                                  | Trinseo Luxco Finance SPV SARL                                  | CUSIP: 89668JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    185206 | PA      | $31485.02     | 0.00%             | 2029-05-03      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                    | Trivium Packaging Finance BV                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    628000 | PA      | $661152.75    | 0.10%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Tronox, Inc.                                                    | Tronox, Inc.                                                    | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    493000 | PA      | $318453.45    | 0.05%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Tronox, Inc.                                                    | Tronox, Inc.                                                    | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141427.10    | 0.02%             | 2030-09-30      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| TrueNoord Capital DAC                                           | TrueNoord Capital DAC                                           | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    307000 | PA      | $321152.09    | 0.05%             | 2030-03-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Turning Point Brands, Inc.                                      | Turning Point Brands, Inc.                                      | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |    180000 | PA      | $191755.62    | 0.03%             | 2032-03-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Tutor Perini Corp.                                              | Tutor Perini Corp.                                              | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |    200000 | PA      | $222379.60    | 0.03%             | 2029-04-30      | Fixed         | 11.88%                | Yes           |                  2 | On Loan: No      |
| Twilio, Inc.                                                    | Twilio, Inc.                                                    | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    435000 | PA      | $416552.52    | 0.06%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Coherent Corp.                                                  | Coherent Corp.                                                  | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    440000 | PA      | $436053.90    | 0.07%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UKG, Inc.                                                       | UKG, Inc.                                                       | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1191000 | PA      | $1229533.61   | 0.19%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                  | US Foods, Inc.                                                  | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    667000 | PA      | $663893.38    | 0.10%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                  | US Foods, Inc.                                                  | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    395000 | PA      | $389807.61    | 0.06%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                  | US Foods, Inc.                                                  | CUSIP: 90290MAG6<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98258.41     | 0.02%             | 2028-09-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                  | US Foods, Inc.                                                  | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    173000 | PA      | $182273.49    | 0.03%             | 2032-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Sunrise FinCo. I BV                                             | Sunrise FinCo. I BV                                             | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    572000 | PA      | $546523.12    | 0.08%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| USI, Inc.                                                       | USI, Inc.                                                       | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |    307000 | PA      | $320042.28    | 0.05%             | 2032-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| UWM Holdings LLC                                                | UWM Holdings LLC                                                | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    481000 | PA      | $488793.16    | 0.08%             | 2030-02-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| UWM Holdings LLC                                                | UWM Holdings LLC                                                | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50221.06     | 0.01%             | 2031-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| US Acute Care Solutions LLC                                     | US Acute Care Solutions LLC                                     | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    527000 | PA      | $535367.71    | 0.08%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Unisys Corp.                                                    | Unisys Corp.                                                    | CUSIP: 909214BX5<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |    320000 | PA      | $323229.33    | 0.05%             | 2031-01-15      | Fixed         | 10.62%                | Yes           |                  2 | On Loan: No      |
| United Natural Foods, Inc.                                      | United Natural Foods, Inc.                                      | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    247000 | PA      | $247154.62    | 0.04%             | 2028-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                              | United Rentals North America, Inc.                              | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    399000 | PA      | $398944.86    | 0.06%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                              | United Rentals North America, Inc.                              | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1185549.30   | 0.18%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                              | United Rentals North America, Inc.                              | CUSIP: 911365BN3<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    321000 | PA      | $310079.03    | 0.05%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                              | United Rentals North America, Inc.                              | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    894000 | PA      | $839938.03    | 0.13%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                              | United Rentals North America, Inc.                              | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    401000 | PA      | $418804.40    | 0.06%             | 2034-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| United States Steel Corp.                                       | United States Steel Corp.                                       | CUSIP: 912909AD0<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |    229000 | PA      | $243007.93    | 0.04%             | 2037-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| United States Steel Corp.                                       | United States Steel Corp.                                       | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |     89000 | PA      | $89742.53     | 0.01%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| United Wholesale Mortgage LLC                                   | United Wholesale Mortgage LLC                                   | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    360000 | PA      | $356276.52    | 0.06%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United Wholesale Mortgage LLC                                   | United Wholesale Mortgage LLC                                   | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    263000 | PA      | $263611.48    | 0.04%             | 2027-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                                  | Uniti Group LP                                                  | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $348611.90    | 0.05%             | 2030-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                                  | Uniti Group LP                                                  | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    348000 | PA      | $330309.00    | 0.05%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                                  | Uniti Group LP                                                  | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    402000 | PA      | $396267.60    | 0.06%             | 2028-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                                  | Uniti Group LP                                                  | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $155338.11    | 0.02%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                  | Univision Communications, Inc.                                  | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    584000 | PA      | $592430.04    | 0.09%             | 2030-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                  | Univision Communications, Inc.                                  | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1249000 | PA      | $1288946.77   | 0.20%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                  | Univision Communications, Inc.                                  | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    943000 | PA      | $975528.79    | 0.15%             | 2031-07-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Urban One, Inc.                                                 | Urban One, Inc.                                                 | CUSIP: 91705JAC9<br>LEI: 549300PLGIGPBRQUP240 | Long             | DBT              | CORP              | US        |    151000 | PA      | $79071.15     | 0.01%             | 2028-02-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| USA Compression Partners LP                                     | USA Compression Partners LP                                     | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    524000 | PA      | $544679.14    | 0.08%             | 2029-03-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| USA Compression Partners LP                                     | USA Compression Partners LP                                     | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    316000 | PA      | $318832.31    | 0.05%             | 2033-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| VF Corp.                                                        | VF Corp.                                                        | CUSIP: 918204AR9<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |    446000 | PA      | $433449.78    | 0.07%             | 2033-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VF Corp.                                                        | VF Corp.                                                        | CUSIP: 918204AT5<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26627.25     | 0.00%             | 2037-11-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| VF Corp.                                                        | VF Corp.                                                        | CUSIP: 918204BB3<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |    213000 | PA      | $207673.10    | 0.03%             | 2027-04-23      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| VF Corp.                                                        | VF Corp.                                                        | CUSIP: 918204BC1<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |     76000 | PA      | $68213.60     | 0.01%             | 2030-04-23      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| VFH Parent LLC                                                  | VFH Parent LLC                                                  | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217000 | PA      | $227745.41    | 0.04%             | 2031-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| VOC Escrow Ltd.                                                 | VOC Escrow Ltd.                                                 | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    367000 | PA      | $366934.75    | 0.06%             | 2028-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| VM Consolidated, Inc.                                           | VM Consolidated, Inc.                                           | CUSIP: 91835HAA0<br>LEI: 549300GCTGJLEBXJUK89 | Long             | DBT              | CORP              | US        |    176000 | PA      | $175874.23    | 0.03%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| VT Topco, Inc.                                                  | VT Topco, Inc.                                                  | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |    217000 | PA      | $225981.63    | 0.04%             | 2030-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| VZ Secured Financing BV                                         | VZ Secured Financing BV                                         | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    709000 | PA      | $644192.58    | 0.10%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                              | Vail Resorts, Inc.                                              | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |    489000 | PA      | $508317.46    | 0.08%             | 2032-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Valaris Ltd.                                                    | Valaris Ltd.                                                    | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    555000 | PA      | $579010.97    | 0.09%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Americas, Inc.                                    | Bausch Health Americas, Inc.                                    | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |    743000 | PA      | $739834.31    | 0.11%             | 2027-01-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Vallourec SACA                                                  | Vallourec SACA                                                  | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    395000 | PA      | $420542.68    | 0.07%             | 2032-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Valvoline, Inc.                                                 | Valvoline, Inc.                                                 | CUSIP: 92047WAG6<br>LEI: 549300CMHPBEY6VPOT75 | Long             | DBT              | CORP              | US        |    308000 | PA      | $283904.05    | 0.04%             | 2031-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Varex Imaging Corp.                                             | Varex Imaging Corp.                                             | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |    160000 | PA      | $163178.72    | 0.03%             | 2027-10-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Velocity Vehicle Group LLC                                      | Velocity Vehicle Group LLC                                      | CUSIP: 92262TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $236707.32    | 0.04%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                              | Venture Global Plaquemines LNG LLC                              | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    886000 | PA      | $965452.94    | 0.15%             | 2033-05-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                              | Venture Global Plaquemines LNG LLC                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    644000 | PA      | $717473.32    | 0.11%             | 2035-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                              | Venture Global Plaquemines LNG LLC                              | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1404000 | PA      | $1471591.99   | 0.23%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                               | Venture Global Calcasieu Pass LLC                               | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    868000 | PA      | $816130.54    | 0.13%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                               | Venture Global Calcasieu Pass LLC                               | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    582000 | PA      | $533207.62    | 0.08%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                               | Venture Global Calcasieu Pass LLC                               | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    155000 | PA      | $135705.69    | 0.02%             | 2033-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                               | Venture Global Calcasieu Pass LLC                               | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    510000 | PA      | $514975.56    | 0.08%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    365000 | PA      | $373860.01    | 0.06%             | 2028-06-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1216000 | PA      | $1219003.52   | 0.19%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2403000 | PA      | $2534361.22   | 0.39%             | 2029-02-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    281000 | PA      | $292558.09    | 0.05%             | 2032-02-01      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    583000 | PA      | $571920.18    | 0.09%             | 2030-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Veritiv Operating Co.                                           | Veritiv Operating Co.                                           | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |    428000 | PA      | $459985.72    | 0.07%             | 2030-11-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Vermilion Energy, Inc.                                          | Vermilion Energy, Inc.                                          | CUSIP: 923725AE5<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |    344000 | PA      | $325963.08    | 0.05%             | 2033-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Versant Media Group, Inc.                                       | Versant Media Group, Inc.                                       | CUSIP: 925283AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $128423.88    | 0.02%             | 2031-01-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator US Newco, Inc.                                      | TK Elevator US Newco, Inc.                                      | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    586000 | PA      | $586981.45    | 0.09%             | 2027-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Viasat, Inc.                                                    | Viasat, Inc.                                                    | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    558000 | PA      | $558566.93    | 0.09%             | 2027-04-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Viasat, Inc.                                                    | Viasat, Inc.                                                    | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4882.26      | 0.00%             | 2028-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Viasat, Inc.                                                    | Viasat, Inc.                                                    | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    299000 | PA      | $283471.09    | 0.04%             | 2031-05-30      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Viavi Solutions, Inc.                                           | Viavi Solutions, Inc.                                           | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    174000 | PA      | $165629.26    | 0.03%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Paramount Global                                                | Paramount Global                                                | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    787000 | PA      | $771154.70    | 0.12%             | 2062-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Victoria's Secret & Co.                                         | Victoria's Secret & Co.                                         | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |    260000 | PA      | $251640.71    | 0.04%             | 2029-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ACProducts Holdings, Inc.                                       | ACProducts Holdings, Inc.                                       | CUSIP: 92641PAA4<br>LEI: 254900KTNXVUUHWHBF39 | Long             | DBT              | CORP              | US        |    166000 | PA      | $99185.00     | 0.02%             | 2029-05-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Victra Holdings LLC                                             | Victra Holdings LLC                                             | CUSIP: 92648DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217000 | PA      | $229761.34    | 0.04%             | 2029-09-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Viking Baked Goods Acquisition Corp.                            | Viking Baked Goods Acquisition Corp.                            | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |    389000 | PA      | $393031.60    | 0.06%             | 2031-11-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                             | Viking Cruises Ltd.                                             | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    709000 | PA      | $712632.58    | 0.11%             | 2029-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                             | Viking Cruises Ltd.                                             | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    178000 | PA      | $190949.68    | 0.03%             | 2031-07-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                             | Viking Cruises Ltd.                                             | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    117000 | PA      | $118896.81    | 0.02%             | 2033-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Viking Ocean Cruises Ship VII Ltd.                              | Viking Ocean Cruises Ship VII Ltd.                              | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     48000 | PA      | $48013.34     | 0.01%             | 2029-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Finance plc                                        | Virgin Media Finance plc                                        | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |   1056000 | PA      | $934584.82    | 0.14%             | 2030-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                | Virgin Media Secured Finance plc                                | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |   1425000 | PA      | $1399136.39   | 0.22%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                | Virgin Media Secured Finance plc                                | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    833000 | PA      | $776676.54    | 0.12%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Virtusa Corp.                                                   | Virtusa Corp.                                                   | CUSIP: 92837TAA0<br>LEI: C77OMXDER63WLJCSKT03 | Long             | DBT              | CORP              | US        |    177000 | PA      | $170157.55    | 0.03%             | 2028-12-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| VistaJet Malta Finance plc                                      | VistaJet Malta Finance plc                                      | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    808000 | PA      | $778049.78    | 0.12%             | 2030-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                       | Vistra Operations Co. LLC                                       | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    961000 | PA      | $948777.91    | 0.15%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                       | Vistra Operations Co. LLC                                       | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1054000 | PA      | $1119549.31   | 0.17%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                       | Vistra Operations Co. LLC                                       | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    764000 | PA      | $803536.24    | 0.12%             | 2032-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| VistaJet Malta Finance plc                                      | VistaJet Malta Finance plc                                      | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    161000 | PA      | $166740.13    | 0.03%             | 2028-06-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                              | Vodafone Group plc                                              | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    956000 | PA      | $899038.37    | 0.14%             | 2081-06-04      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                              | Vodafone Group plc                                              | CUSIP: 92857WBX7<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    796000 | PA      | $631709.58    | 0.10%             | 2081-06-04      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| Vmed O2 UK Financing I plc                                      | Vmed O2 UK Financing I plc                                      | CUSIP: 92858RAD2<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    288000 | PA      | $300390.05    | 0.05%             | 2032-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Vornado Realty LP                                               | Vornado Realty LP                                               | CUSIP: 929043AL1<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |    156000 | PA      | $141112.19    | 0.02%             | 2031-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Voyager Parent LLC                                              | Voyager Parent LLC                                              | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    916000 | PA      | $970643.98    | 0.15%             | 2032-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| W&T Offshore, Inc.                                              | W&T Offshore, Inc.                                              | CUSIP: 92922PAN6<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | DBT              | CORP              | US        |    321000 | PA      | $291204.78    | 0.05%             | 2029-02-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                           | WR Grace Holdings LLC                                           | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    117000 | PA      | $110142.52    | 0.02%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                           | WR Grace Holdings LLC                                           | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    312000 | PA      | $309144.33    | 0.05%             | 2027-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                           | WR Grace Holdings LLC                                           | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    759000 | PA      | $771288.28    | 0.12%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| WBI Operating LLC                                               | WBI Operating LLC                                               | CUSIP: 92944BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    303000 | PA      | $302853.05    | 0.05%             | 2033-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Wabash National Corp.                                           | Wabash National Corp.                                           | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |    207000 | PA      | $189475.77    | 0.03%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Walker & Dunlop, Inc.                                           | Walker & Dunlop, Inc.                                           | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    196000 | PA      | $201456.25    | 0.03%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Wand NewCo 3, Inc.                                              | Wand NewCo 3, Inc.                                              | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    590000 | PA      | $621699.52    | 0.10%             | 2032-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Waste Pro USA, Inc.                                             | Waste Pro USA, Inc.                                             | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    368000 | PA      | $382758.64    | 0.06%             | 2033-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Watco Cos. LLC                                                  | Watco Cos. LLC                                                  | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    341000 | PA      | $356342.95    | 0.06%             | 2032-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Wayfair LLC                                                     | Wayfair LLC                                                     | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    657000 | PA      | $683442.28    | 0.11%             | 2029-10-31      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Weatherford International Ltd.                                  | Weatherford International Ltd.                                  | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    196000 | PA      | $199926.47    | 0.03%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Weatherford International Ltd.                                  | Weatherford International Ltd.                                  | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    476000 | PA      | $487177.91    | 0.08%             | 2033-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Weekley Homes LLC                                               | Weekley Homes LLC                                               | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    206000 | PA      | $202702.52    | 0.03%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                        | WESCO Distribution, Inc.                                        | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    289000 | PA      | $293337.31    | 0.05%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                        | WESCO Distribution, Inc.                                        | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    141000 | PA      | $145677.96    | 0.02%             | 2029-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                        | WESCO Distribution, Inc.                                        | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1117067.85   | 0.17%             | 2032-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                        | WESCO Distribution, Inc.                                        | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    174000 | PA      | $181980.68    | 0.03%             | 2033-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| West Technology Group LLC                                       | West Technology Group LLC                                       | CUSIP: 956187AA6<br>LEI: 5493005Z5DB0O5S30R71 | Long             | DBT              | CORP              | US        |    268000 | PA      | $32361.05     | 0.01%             | 2027-04-10      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| WEX, Inc.                                                       | WEX, Inc.                                                       | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |    332000 | PA      | $338611.78    | 0.05%             | 2033-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Whirlpool Corp.                                                 | Whirlpool Corp.                                                 | CUSIP: 963320AV8<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    343000 | PA      | $263877.45    | 0.04%             | 2046-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                 | Whirlpool Corp.                                                 | CUSIP: 963320AW6<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    625000 | PA      | $621044.13    | 0.10%             | 2029-02-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                 | Whirlpool Corp.                                                 | CUSIP: 963320AX4<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    187000 | PA      | $142935.32    | 0.02%             | 2050-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                 | Whirlpool Corp.                                                 | CUSIP: 963320AY2<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    225000 | PA      | $190261.06    | 0.03%             | 2031-05-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                 | Whirlpool Corp.                                                 | CUSIP: 963320BA3<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    430000 | PA      | $411019.80    | 0.06%             | 2033-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                 | Whirlpool Corp.                                                 | CUSIP: 963320BC9<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    154000 | PA      | $148039.18    | 0.02%             | 2034-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wildfire Intermediate Holdings LLC                              | Wildfire Intermediate Holdings LLC                              | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    186000 | PA      | $187759.93    | 0.03%             | 2029-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                                         | Williams Scotsman, Inc.                                         | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    740000 | PA      | $770902.40    | 0.12%             | 2031-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                                         | Williams Scotsman, Inc.                                         | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     42000 | PA      | $43334.17     | 0.01%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                                         | Williams Scotsman, Inc.                                         | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     99000 | PA      | $97794.75     | 0.02%             | 2028-08-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Wilsonart LLC                                                   | Wilsonart LLC                                                   | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |    236000 | PA      | $218931.82    | 0.03%             | 2032-08-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Wilton RE Ltd.                                                  | Wilton RE Ltd.                                                  | CUSIP: 97263CAA9<br>LEI: 5493004VQ9VSL29MT373 | Long             | DBT              | CORP              | CA        |    173000 | PA      | $171429.51    | 0.03%             | 2030-10-22      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Windsor Holdings III LLC                                        | Windsor Holdings III LLC                                        | CUSIP: 97360AAA5<br>LEI: 254900IXUJZ9H146T437 | Long             | DBT              | CORP              | US        |    343000 | PA      | $360928.95    | 0.06%             | 2030-06-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services LLC                                         | Windstream Services LLC                                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1042000 | PA      | $1081845.04   | 0.17%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services LLC                                         | Windstream Services LLC                                         | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    725000 | PA      | $737818.73    | 0.11%             | 2033-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Wolverine World Wide, Inc.                                      | Wolverine World Wide, Inc.                                      | CUSIP: 978097AG8<br>LEI: 549300OVC7PK14LQ8D87 | Long             | DBT              | CORP              | US        |    256000 | PA      | $234675.38    | 0.04%             | 2029-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| WULF Compute LLC                                                | WULF Compute LLC                                                | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1087000 | PA      | $1123871.54   | 0.17%             | 2030-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Travel + Leisure Co.                                            | Travel + Leisure Co.                                            | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    347000 | PA      | $352385.79    | 0.05%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Travel + Leisure Co.                                            | Travel + Leisure Co.                                            | CUSIP: 98310WAQ1<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68164.32     | 0.01%             | 2030-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Travel + Leisure Co.                                            | Travel + Leisure Co.                                            | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    239000 | PA      | $240425.00    | 0.04%             | 2026-07-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                                  | Wyndham Hotels & Resorts, Inc.                                  | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    223000 | PA      | $219467.64    | 0.03%             | 2028-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Wynn Las Vegas LLC                                              | Wynn Las Vegas LLC                                              | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    391000 | PA      | $392481.89    | 0.06%             | 2027-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                        | Wynn Resorts Finance LLC                                        | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $291455.22    | 0.05%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                        | Wynn Resorts Finance LLC                                        | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    757000 | PA      | $817817.38    | 0.13%             | 2031-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                        | Wynn Resorts Finance LLC                                        | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $35789.25     | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| XHR LP                                                          | XHR LP                                                          | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |    487000 | PA      | $478379.13    | 0.07%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| XPO, Inc.                                                       | XPO, Inc.                                                       | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    384000 | PA      | $405742.85    | 0.06%             | 2032-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| RXO, Inc.                                                       | RXO, Inc.                                                       | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |    153000 | PA      | $155868.75    | 0.02%             | 2027-11-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| XPO, Inc.                                                       | XPO, Inc.                                                       | CUSIP: 98379KAB8<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67996.96     | 0.01%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    172000 | PA      | $179839.76    | 0.03%             | 2033-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Xerox Corp.                                                     | Xerox Corp.                                                     | CUSIP: 984121CS0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |    502000 | PA      | $514699.09    | 0.08%             | 2030-10-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                            | Xerox Holdings Corp.                                            | CUSIP: 98421MAB2<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    122000 | PA      | $51887.25     | 0.01%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                            | Xerox Holdings Corp.                                            | CUSIP: 98421MAC0<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    608000 | PA      | $223128.04    | 0.03%             | 2029-11-30      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                               | Yum! Brands, Inc.                                               | CUSIP: 988498AD3<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     55000 | PA      | $61577.51     | 0.01%             | 2037-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                               | Yum! Brands, Inc.                                               | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     99000 | PA      | $99285.02     | 0.02%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                               | Yum! Brands, Inc.                                               | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    587000 | PA      | $556476.00    | 0.09%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                               | Yum! Brands, Inc.                                               | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    745000 | PA      | $733557.17    | 0.11%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                               | Yum! Brands, Inc.                                               | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    876000 | PA      | $888993.71    | 0.14%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                  | ZF North America Capital, Inc.                                  | CUSIP: 98877DAD7<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    670000 | PA      | $683818.08    | 0.11%             | 2028-04-14      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                  | ZF North America Capital, Inc.                                  | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    152000 | PA      | $147660.28    | 0.02%             | 2030-04-23      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                  | ZF North America Capital, Inc.                                  | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    947000 | PA      | $899706.16    | 0.14%             | 2032-04-23      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                       | Zayo Group Holdings, Inc.                                       | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    495925 | PA      | $456945.30    | 0.07%             | 2030-03-09      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                       | Zayo Group Holdings, Inc.                                       | CUSIP: 98919VAD7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    376000 | PA      | $334640.00    | 0.05%             | 2030-09-09      | Variable      | 13.75%                | Yes           |                  2 | On Loan: No      |
| Zebra Technologies Corp.                                        | Zebra Technologies Corp.                                        | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |    223000 | PA      | $231203.06    | 0.04%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Zegona Finance plc                                              | Zegona Finance plc                                              | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |    420000 | PA      | $444941.81    | 0.07%             | 2029-07-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Ziggo Bond Co. BV                                               | Ziggo Bond Co. BV                                               | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    227000 | PA      | $203751.91    | 0.03%             | 2030-02-28      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Ziggo BV                                                        | Ziggo BV                                                        | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    613000 | PA      | $580774.10    | 0.09%             | 2030-01-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ZipRecruiter, Inc.                                              | ZipRecruiter, Inc.                                              | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |    276000 | PA      | $223832.80    | 0.03%             | 2030-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ZoomInfo Technologies LLC                                       | ZoomInfo Technologies LLC                                       | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    296000 | PA      | $280229.09    | 0.04%             | 2029-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Cwt Travel Group, Inc.                                          | Cwt Travel Group, Inc.                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1455 | NS      | $7275.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Mallinckrodt plc                                                | Mallinckrodt plc                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       739 | NS      | $75332.18     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Rite Aid                                                        | Rite Aid                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       275 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Escrow Rite Aid                                                 | Escrow Rite Aid                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |     27437 | PA      | $0.00         | 0.00%             | 2049-12-31      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** J.P. Morgan Exchange-Traded Fund Trust

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer