# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-26-004462
**Filing Date:** 2026-4
**Character Count:** 356667
**Document Hash:** 128b0925d0f3bc3c7bc6397810d8dcb7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-004462.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001099263-26-004462

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20260531

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 26899734

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

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

## Series and Classes Contracts Data

### T. Rowe Price Ultra Short-Term Bond ETF (Series ID: S000072799)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000229340 | T. Rowe Price Ultra Short-Term Bond ETF | TBUX            |

## Nport-Ex

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

February 28, 2026 Unaudited

---

| | | |
|:---|:---|:---|
| **PORTFOLIO OF INVESTMENTS‡** | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **ASSET-BACKED SECURITIES 24.8%** | **ASSET-BACKED SECURITIES 24.8%** | **ASSET-BACKED SECURITIES 24.8%** |
| **Auto Backed 12.5%** |  |  |
| Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class A2, 5.681%, 5/17/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;258 |
| Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class B, 5.827%, 5/17/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;194 |
| Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class A2, 4.97%, 9/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;323 |
| Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class B, 5.117%, 9/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;305 |
| Ally Bank Auto Credit-Linked Notes, Series 2025-A, Class A2, 4.452%, 6/15/33 (1) | 1178 | 1187 |
| Ally Bank Auto Credit-Linked Notes, Series 2025-A, Class B, 4.648%, 6/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp;807 |
| Ally Bank Auto Credit-Linked Notes, Series 2025-B, Class A2, 4.305%, 9/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;646 |
| Ally Bank Auto Credit-Linked Notes, Series 2025-B, Class B, 4.501%, 9/15/33 (1) | 1609 | 1618 |
| AmeriCredit Automobile Receivables Trust, Series 2025-1, Class A2B, FRN, SOFR30A + 0.55%, 4.208%, 3/19/29 (1) | 2965 | 2969 |
| AmeriCredit Automobile Receivables Trust, Series 2025-1, Class A3, 4.12%, 5/20/30 (1) | 4300 | 4325 |
| ARI Fleet Lease Trust, Series 2023-B, Class A2, 6.05%, 7/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;50 |
| ARI Fleet Lease Trust, Series 2024-A, Class A2, 5.30%, 11/15/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp;173 |
| ARI Fleet Lease Trust, Series 2024-B, Class A2, 5.54%, 4/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;205 |
| ARI Fleet Lease Trust, Series 2025-A, Class A2, 4.38%, 1/17/34 (1) | 1255 | 1259 |
| Avis Budget Rental Car Funding AESOP, Series 2025-3A, Class A, 4.17%, 2/20/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;557 |
| Bayview Opportunity Master Fund VII, Series 2024-CAR1, Class A, FRN, SOFR30A + 1.10%, 4.767%, 12/26/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;88 |
| Bridgecrest Lending Auto Securitization Trust, Series 2026-1, Class B, 4.25%, 11/17/31 | 4845 | 4863 |
| CarMax Auto Owner Trust, Series 2022-1, Class D, 2.47%, 7/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;634 |
| CarMax Select Receivables Trust, Series 2025-B, Class A2, 4.19%, 3/15/29 | 1650 | 1652 |
| Carvana Auto Receivables Trust, Series 2021-N2, Class A2, 0.97%, 3/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;53 |
| Carvana Auto Receivables Trust, Series 2021-N3, Class A2, 1.11%, 6/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;57 |
| Carvana Auto Receivables Trust, Series 2021-N3, Class B, 0.66%, 6/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;229 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class A2, 1.80%, 9/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;36 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class B, 1.24%, 9/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Carvana Auto Receivables Trust, Series 2021-P3, Class A4, 1.03%, 6/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;727 |
| Carvana Auto Receivables Trust, Series 2022-N1, Class A2, 3.21%, 12/11/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;&nbsp;96 |
| Carvana Auto Receivables Trust, Series 2022-P1, Class B, 3.00%, 2/10/28 | 1750 | 1736 |
| Carvana Auto Receivables Trust, Series 2022-P2, Class B, 5.08%, 4/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;222 |
| Carvana Auto Receivables Trust, Series 2023-N1, Class C, 5.92%, 7/10/29 (1) | 1743 | 1750 |
| Carvana Auto Receivables Trust, Series 2023-P1, Class B, 6.21%, 4/10/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;186 |
| Carvana Auto Receivables Trust, Series 2024-N1, Class A3, 5.60%, 3/10/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| Carvana Auto Receivables Trust, Series 2024-N1, Class B, 5.63%, 5/10/30 (1) | 2315 | 2336 |
| Carvana Auto Receivables Trust, Series 2024-N2, Class A3, 5.71%, 7/10/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;81 |
| Carvana Auto Receivables Trust, Series 2024-N2, Class B, 5.67%, 9/10/30 (1) | 2665 | 2693 |
| Carvana Auto Receivables Trust, Series 2024-N2, Class C, 5.82%, 9/10/30 (1) | 2000 | 2043 |
| Carvana Auto Receivables Trust, Series 2024-N3, Class B, 4.67%, 12/10/30 (1) | 1000 | 1006 |
| Carvana Auto Receivables Trust, Series 2024-P2, Class A3, 5.33%, 7/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;210 |
| Carvana Auto Receivables Trust, Series 2024-P4, Class A2, 4.62%, 2/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;64 |
| Carvana Auto Receivables Trust, Series 2024-P4, Class A3, 4.64%, 1/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;478 |
| Carvana Auto Receivables Trust, Series 2025-N1, Class A2, 4.78%, 5/10/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;185 |
| Carvana Auto Receivables Trust, Series 2025-N1, Class A3, 4.91%, 8/10/29 (1) | 1000 | 1008 |
| Carvana Auto Receivables Trust, Series 2025-P2, Class A2, 4.56%, 8/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;504 |

---

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T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

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| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Carvana Auto Receivables Trust, Series 2025-P2, Class A3, 4.55%, 8/12/30 | 1180 | 1191 |
| Carvana Auto Receivables Trust, Series 2025-P4, Class A2, 4.19%, 3/12/29 | 4090 | 4098 |
| Chase Auto Credit Linked Notes, Series 2025-1, Class B, 4.753%, 2/25/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp;845 |
| Drive Auto Receivables Trust, Series 2021-3, Class D, 1.94%, 6/15/29 (1) | 1179 | 1169 |
| Drive Auto Receivables Trust, Series 2024-1, Class B, 5.31%, 1/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp;231 |
| Drive Auto Receivables Trust, Series 2024-2, Class A3, 4.50%, 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;255 |
| Drive Auto Receivables Trust, Series 2024-2, Class B, 4.52%, 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;266 |
| Drive Auto Receivables Trust, Series 2025-1, Class A3, 4.73%, 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;714 |
| Drive Auto Receivables Trust, Series 2025-1, Class B, 4.79%, 9/15/32 | 1000 | 1009 |
| Enterprise Fleet Financing, Series 2022-3, Class A2, 4.38%, 7/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Enterprise Fleet Financing, Series 2023-2, Class A2, 5.56%, 4/22/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 |
| Enterprise Fleet Financing, Series 2023-3, Class A2, 6.40%, 3/20/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;105 |
| Enterprise Fleet Financing, Series 2024-1, Class A2, 5.23%, 3/20/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;231 |
| Enterprise Fleet Financing, Series 2024-2, Class A2, 5.74%, 12/20/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 |
| Enterprise Fleet Financing, Series 2024-3, Class A2, 5.31%, 4/20/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 |
| Enterprise Fleet Financing, Series 2025-1, Class A2, 4.65%, 10/20/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp;388 |
| Enterprise Fleet Financing, Series 2025-2, Class A2, 4.51%, 2/22/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;977 | &nbsp;&nbsp;&nbsp;&nbsp;981 |
| Exeter Automobile Receivables Trust, Series 2021-2A, Class E, 2.90%, 7/17/28 (1) | 7392 | 7387 |
| Exeter Automobile Receivables Trust, Series 2022-1A, Class D, 3.02%, 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| Exeter Automobile Receivables Trust, Series 2024-1A, Class B, 5.29%, 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;&nbsp;148 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class B, 5.29%, 8/15/30 | 1860 | 1867 |
| Exeter Automobile Receivables Trust, Series 2025-3A, Class A3, 4.78%, 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;508 |
| Exeter Automobile Receivables Trust, Series 2025-3A, Class B, 4.86%, 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;537 |
| Exeter Automobile Receivables Trust, Series 2025-4A, Class B, 4.40%, 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;847 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class A3, 4.24%, 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;487 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class B, 4.28%, 7/15/30 | 1635 | 1647 |
| Exeter Automobile Receivables Trust, Series 2026-1A, Class B, 4.22%, 10/15/30 | 1455 | 1463 |
| Exeter Select Automobile Receivables Trust, Series 2025-1, Class A3, 4.69%, 4/15/30 | 2405 | 2429 |
| Ford Credit Auto Owner Trust, Series 2021-1, Class B, 1.61%, 10/17/33 (1) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;996 |
| Ford Credit Auto Owner Trust, Series 2021-2, Class B, 1.91%, 5/15/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 |
| Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class B, 5.31%, 5/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;902 |
| Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class D, 6.62%, 5/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Ford Credit Floorplan Master Owner Trust A, Series 2024-1, Class B, 5.48%, 4/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;647 |
| Ford Credit Floorplan Master Owner Trust A, Series 2024-3, Class A1, 4.30%, 9/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;590 |
| Ford Credit Floorplan Master Owner Trust A, Series 2024-3, Class B, 4.50%, 9/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;398 |
| Ford Credit Floorplan Master Owner Trust A, Series 2025-2, Class B, 4.33%, 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;765 |
| GM Financial Automobile Leasing Trust, Series 2025-1, Class A4, 4.70%, 2/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;759 |
| GM Financial Automobile Leasing Trust, Series 2025-1, Class B, 4.89%, 2/20/29 | 4785 | 4846 |
| GM Financial Automobile Leasing Trust, Series 2025-2, Class B, 4.80%, 4/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;710 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class B, 5.73%, 6/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;442 |
| GMF Floorplan Owner Revolving Trust, Series 2024-3A, Class B, 4.92%, 11/15/28 (1) | 1500 | 1508 |
| Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class B1, 6.153%, 5/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;&nbsp;990 |

---

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T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

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| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Huntington Bank Auto Credit-Linked Notes, Series 2024-2, Class B1, 5.442%, 10/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp;323 |
| Huntington Bank Auto Credit-Linked Notes, Series 2025-1, Class B1, 4.957%, 3/21/33 (1) | 1781 | 1795 |
| Huntington Bank Auto Credit-Linked Notes, Series 2025-2, Class B1, 4.835%, 9/20/33 (1) | 2182 | 2200 |
| Hyundai Auto Lease Securitization Trust, Series 2024-A, Class A3, 5.02%, 3/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 |
| Hyundai Auto Lease Securitization Trust, Series 2024-A, Class B, 5.35%, 5/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;166 |
| Hyundai Auto Lease Securitization Trust, Series 2025-B, Class B, 4.94%, 8/15/29 (1) | 1022 | 1038 |
| Hyundai Auto Lease Securitization Trust, Series 2026-A, Class B, 4.16%, 5/15/30 (1) | 1200 | 1207 |
| Navistar Financial Dealer Note Master Owner Trust, Series 2024-1, Class A, 5.59%, 4/25/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;105 |
| Navistar Financial Dealer Note Master Owner Trust, Series 2024-1, Class B, 5.79%, 4/25/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;200 |
| Navistar Financial Dealer Note Master Owner Trust II, Series 2025-1, Class A, 4.18%, 9/25/30 (1) | 1755 | 1763 |
| Octane Receivables Trust, Series 2023-1A, Class B, 5.96%, 7/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;135 |
| Octane Receivables Trust, Series 2023-3A, Class A2, 6.44%, 3/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 |
| Octane Receivables Trust, Series 2023-3A, Class B, 6.48%, 7/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;268 |
| Octane Receivables Trust, Series 2023-3A, Class C, 6.74%, 8/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;770 |
| Octane Receivables Trust, Series 2025-RVM1, Class A, 4.48%, 12/20/46 (1) | 1963 | 1972 |
| Santander Bank Auto Credit-Linked Notes, Series 2023-B, Class B, 5.64%, 12/15/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;999 | 1013 |
| Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class A2, 5.605%, 6/15/32 (1) | 1568 | 1597 |
| Santander Bank Auto Credit-Linked Notes, Series 2024-B, Class A2, 4.911%, 1/18/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp;465 |
| Santander Bank Auto Credit-Linked Notes, Series 2024-B, Class B, 4.965%, 1/18/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;206 |
| Santander Bank Auto Credit-Linked Notes, Series 2025-A, Class B, 4.484%, 1/16/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;266 |
| Santander Drive Auto Receivables Trust, Series 2022-3, Class C, 4.49%, 8/15/29 | 1105 | 1106 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class A3, 5.73%, 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class B, 5.23%, 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;755 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class B, 5.78%, 7/16/29 | 1000 | 1012 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class A3, 4.62%, 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;332 |
| Santander Drive Auto Receivables Trust, Series 2025-1, Class B, 4.88%, 3/17/31 | 2200 | 2217 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class A2, 4.28%, 1/15/29 | 2760 | 2766 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class B, 4.27%, 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;857 |
| Santander Drive Auto Receivables Trust, Series 2026-1, Class B, 4.07%, 4/15/32 | 1865 | 1871 |
| SBNA Auto Lease Trust, Series 2024-A, Class A4, 5.24%, 1/22/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;221 |
| SBNA Auto Lease Trust, Series 2024-B, Class A3, 5.56%, 11/22/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;156 |
| SBNA Auto Lease Trust, Series 2024-B, Class A4, 5.55%, 12/20/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;227 |
| SBNA Auto Lease Trust, Series 2024-C, Class A3, 4.56%, 2/22/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;&nbsp;272 |
| SBNA Auto Lease Trust, Series 2024-C, Class A4, 4.42%, 3/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;191 |
| SBNA Auto Lease Trust, Series 2025-A, Class A3, 4.83%, 4/20/28 (1) | 2000 | 2010 |
| SBNA Auto Receivables Trust, Series 2024-A, Class A3, 5.32%, 12/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038%, 7/25/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;285 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class B, 4.925%, 12/29/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;627 |

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T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

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| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Securitized Term Auto Receivables Trust, Series 2026-A, Class B, 4.284%, 3/25/33 (1) | 3267 | &nbsp;&nbsp;&nbsp;&nbsp;3282 |
| SFS Auto Receivables Securitization Trust, Series 2025-1A, Class A3, 4.75%, 7/22/30 (1) | 1750 | &nbsp;&nbsp;&nbsp;&nbsp;1767 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA, Class A2, 4.63%, 7/20/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-BA, Class B, 4.47%, 7/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-CA, Class A2, 4.06%, 6/20/28 (1) | 1110 | &nbsp;&nbsp;&nbsp;&nbsp;1113 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-CA, Class B, 4.25%, 12/20/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 |
| US Bank, Series 2023-1, Class B, 6.789%, 8/25/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291 |
| USB Auto Owner Trust, Series 2025-1A, Class A2, 4.51%, 6/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854 |
| Volkswagen Auto Lease Trust, Series 2024-A, Class A3, 5.21%, 6/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 |
| Wheels Fleet Lease Funding 1, Series 2024-1A, Class A1, 5.49%, 2/18/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 |
| Wheels Fleet Lease Funding 1, Series 2025-3A, Class A1, 4.08%, 9/18/40 (1) | 1685 | &nbsp;&nbsp;&nbsp;&nbsp;1692 |
| World Omni Select Auto Trust, Series 2023-A, Class C, 6.00%, 1/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 |
|  |  | 123010 |
| **Collateralized Debt Obligations 7.8%** |  |  |
| 522 Funding, Series 2019-5A, Class AR2, CLO, FRN, 3M TSFR + 1.02%, 4.68%, 4/15/35 (1) | 6425 | &nbsp;&nbsp;&nbsp;&nbsp;6425 |
| Alinea, Series 2018-1A, Class BR, CLO, FRN, 3M TSFR + 1.15%, 4.818%, 7/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 |
| Bain Capital Credit, Series 2020-2A, Class AR3, CLO, FRN, 3M TSFR + 0.98%, 4.646%, 7/19/34 (1) | 4180 | &nbsp;&nbsp;&nbsp;&nbsp;4175 |
| Bain Capital Credit, Series 2020-5A, Class ARR, CLO, FRN, 3M TSFR + 1.15%, 4.818%, 4/20/34 (1) | 7000 | &nbsp;&nbsp;&nbsp;&nbsp;7006 |
| Bain Capital Credit, Series 2021-4A, Class A1RR, CLO, FRN, 3M TSFR + 1.00%, 4.667%, 10/20/34 (1) | 5000 | &nbsp;&nbsp;&nbsp;&nbsp;5000 |
| Battalion, Series 2016-10A, Class A1R3, CLO, FRN, 3M TSFR + 1.14%, 4.808%, 1/24/35 (1) | 5989 | &nbsp;&nbsp;&nbsp;&nbsp;5991 |
| Battalion IX, Series 2015-9A, Class ARR, CLO, FRN, 3M TSFR + 0.96%, 4.632%, 7/15/31 (1) | 1503 | &nbsp;&nbsp;&nbsp;&nbsp;1503 |
| Battalion XV, Series 2020-15A, Class A1RR, CLO, FRN, 3M TSFR + 0.98%, 4.648%, 1/17/33 (1) | 1796 | &nbsp;&nbsp;&nbsp;&nbsp;1796 |
| BlueMountain, Series 2015-3A, Class A1R, CLO, FRN, 3M TSFR + 1.26%, 4.929%, 4/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| BlueMountain, Series 2016-3A, Class A1R2, CLO, FRN, 3M TSFR + 1.20%, 4.852%, 11/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 |
| BlueMountain, Series 2018-3A, Class A1R, CLO, FRN, 3M TSFR + 1.19%, 4.858%, 10/25/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 |
| Chenango Park, Series 2018-1A, Class A2R, CLO, FRN, 3M TSFR + 1.45%, 5.122%, 4/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964 |
| CIFC Funding, Series 2022-3A, Class AR, FRN, 3M TSFR + 0.95%, 4.62%, 4/21/35 (1) | 4500 | &nbsp;&nbsp;&nbsp;&nbsp;4500 |
| Crown Point 7, Series 2018-7A, Class AR, CLO, FRN, 3M TSFR + 1.23%, 4.898%, 10/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| Dryden 45 Senior Loan Fund, Series 2016-45A, Class BRR, FRN, 3M TSFR + 1.65%, 5.322%, 10/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797 |
| Dryden 53, Series 2017-53A, Class AR, CLO, FRN, 3M TSFR + 1.00%, 4.672%, 1/15/31 (1) | 1398 | &nbsp;&nbsp;&nbsp;&nbsp;1398 |
| Dryden 80, Series 2019-80A, Class ARR, CLO, FRN, 3M TSFR + 0.95%, 4.618%, 1/17/33 (1) | 2511 | &nbsp;&nbsp;&nbsp;&nbsp;2511 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Fortress Credit BSL VII, Series 2019-1A, Class A1R, FRN, 3M TSFR + 1.09%, 4.761%, 7/23/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 |
| Fortress Credit BSL VIII, Series 2019-2A, Class A1AR, FRN, 3M TSFR + 1.05%, 4.72%, 10/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 |
| KKR 18, Series 18, Class A1R2, CLO, FRN, 3M TSFR + 1.05%, 4.718%, 10/18/35 (1) | 2361 | &nbsp;&nbsp;&nbsp;2365 |
| KKR 40, Series 40A, Class AR, CLO, FRN, 3M TSFR + 1.30%, 4.967%, 10/20/34 (1) | 3735 | &nbsp;&nbsp;&nbsp;3741 |
| KKR 49, Series 49A, Class X, CLO, FRN, 3M TSFR + 1.10%, 4.768%, 10/20/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 |
| LCM 39, Series 39A, Class A1R2, FRN, 3M TSFR + 1.04%, 4.704%, 10/15/34 (1)(2) | 2140 | &nbsp;&nbsp;&nbsp;2140 |
| Madison Park Funding L, Series 2021-50A, Class AR, FRN, 3M TSFR + 0.97%, 4.633%, 4/19/34 (1) | 5000 | &nbsp;&nbsp;&nbsp;4995 |
| Madison Park Funding LII, Series 2021-52A, Class AR, FRN, 3M TSFR + 1.10%, 4.769%, 1/22/35 (1) | 3000 | &nbsp;&nbsp;&nbsp;2999 |
| Madison Park Funding XLII, Series 13A, Class AR2, FRN, 3M TSFR + 0.92%, 4.591%, 11/21/30 (1) | 1635 | &nbsp;&nbsp;&nbsp;1637 |
| Marble Point XV, Series 2019-1A, Class A1R2, CLO, FRN, 3M TSFR + 1.04%, 4.711%, 7/23/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514 |
| Neuberger Berman Loan Advisers, Series 2022-50A, Class AR2, CLO, FRN, 3M TSFR + 1.04%, 4.699%, 7/23/36 (1) | 1615 | &nbsp;&nbsp;&nbsp;1615 |
| Northwoods Capital XIV-B, Series 2018-14BA, Class AR, FRN, 3M TSFR + 1.25%, 4.883%, 11/13/31 (1) | 2052 | &nbsp;&nbsp;&nbsp;2056 |
| Octagon Investment Partners XXI, Series 2014-1A, Class AAR4, FRN, 3M TSFR + 0.81%, 4.462%, 2/14/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 |
| OZLM XIX, Series 2017-19A, Class A1R3, FRN, 3M TSFR + 1.00%, 4.663%, 1/15/35 (1) | 3265 | &nbsp;&nbsp;&nbsp;3265 |
| OZLM XV, Series 2016-15A, Class A1R3, FRN, 3M TSFR + 1.05%, 4.718%, 4/20/33 (1) | 1939 | &nbsp;&nbsp;&nbsp;1942 |
| OZLM XV, Series 2018-20A, Class A2, FRN, 3M TSFR + 1.91%, 5.579%, 4/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481 |
| Post, Series 2021-1A, Class AR, CLO, FRN, 3M TSFR + 1.08%, 4.752%, 10/15/34 (1) | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 |
| RAD, Series 2023-21A, Class A1R, CLO, FRN, 3M TSFR + 1.07%, 4.738%, 1/25/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 |
| Romark II, Series 2018-2A, Class A1R, CLO, FRN, 3M TSFR + 1.14%, 4.808%, 7/25/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 |
| Symphony XVI, Series 2015-16A, Class ARR, CLO, FRN, 3M TSFR + 1.20%, 4.872%, 10/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 |
| Wellfleet, Series 2021-2A, Class A1R, FRN, 3M TSFR + 1.15%, 4.822%, 7/15/34 (1) | 3360 | &nbsp;&nbsp;&nbsp;3361 |
|  |  | 77289 |
| **Equipment Lease Heavy Duty 1.8%** |  |  |
| Amur Equipment Finance Receivables XIII, Series 2024-1A, Class B, 5.37%, 1/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 |
| Amur Equipment Finance Receivables XIV, Series 2024-2A, Class A2, 5.19%, 7/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 |
| Amur Equipment Finance Receivables XV, Series 2025-1A, Class A2, 4.70%, 9/22/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 |
| Auxilior Term Funding, Series 2023-1A, Class A2, 6.18%, 12/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| Auxilior Term Funding, Series 2024-1A, Class A2, 5.84%, 3/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Auxilior Term Funding, Series 2024-1A, Class A3, 5.49%, 7/15/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class B, 5.41%, 3/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 |
| Crossroads Asset Trust, Series 2024-A, Class A2, 5.90%, 8/20/30 (1) | 2291 | &nbsp;&nbsp;&nbsp;2313 |
| Dell Equipment Finance Trust, Series 2023-2, Class A3, 5.65%, 1/22/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Dell Equipment Finance Trust, Series 2024-2, Class B, 4.82%, 8/22/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 |
| Dell Equipment Finance Trust, Series 2025-1, Class A3, 4.61%, 2/24/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Dext ABS, Series 2025-2, Class A2, 4.10%, 4/17/28 (1) | 1265 | &nbsp;&nbsp;&nbsp;1265 |
| Dext ABS, Series 2025-2, Class A3, 4.23%, 4/15/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 |
| Dext ABS, Series 2025-2, Class B, 4.66%, 4/15/36 (1) | 1105 | &nbsp;&nbsp;&nbsp;1109 |
| Kubota Credit Owner Trust, Series 2024-2A, Class A2, 5.45%, 4/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| Kubota Credit Owner Trust, Series 2024-2A, Class A3, 5.26%, 11/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 |
| Kubota Credit Owner Trust, Series 2025-1A, Class A2, 4.61%, 12/15/27 (1) | 1342 | &nbsp;&nbsp;&nbsp;1348 |
| M&T Equipment Notes, Series 2025-1A, Class A2, 4.70%, 12/16/27 (1) | 1021 | &nbsp;&nbsp;&nbsp;1025 |
| PEAC Solutions Receivables, Series 2025-1A, Class A2, 4.94%, 10/20/28 (1) | 1279 | &nbsp;&nbsp;&nbsp;1287 |
| Post Road Equipment Finance, Series 2024-1A, Class A2, 5.59%, 11/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Post Road Equipment Finance, Series 2025-1A, Class A2, 4.90%, 5/15/31 (1) | 1071 | &nbsp;&nbsp;&nbsp;1080 |
| SCF Equipment Leasing, Series 2023-1A, Class A3, 6.17%, 5/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158 |
| SCF Equipment Leasing, Series 2023-1A, Class B, 6.37%, 5/20/32 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| SCF Equipment Trust, Series 2025-1A, Class A2, 4.82%, 7/22/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 |
| Verdant Receivables, Series 2024-1A, Class A2, 5.68%, 12/12/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| Verdant Receivables, Series 2025-1A, Class A2, 4.85%, 3/13/28 (1) | 1551 | &nbsp;&nbsp;&nbsp;1557 |
| Wingspire Equipment Finance, Series 2025-1A, Class A2, 4.33%, 9/20/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 |
| Wingspire Equipment Finance, Series 2025-1A, Class C, 4.76%, 9/20/33 (1) | 1054 | &nbsp;&nbsp;&nbsp;1060 |
|  |  | 17524 |
| **Miscellaneous 0.0%** |  |  |
| Santander Drive Auto Receivables Trust, Series 2023-5, Class B, 6.16%, 12/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 |
| **Other Asset-Backed Securities 2.7%** |  |  |
| Affirm Asset Securitization Trust, Series 2025-X1, Class A, 5.08%, 4/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class A, 4.45%, 10/15/30 (1) | 1900 | &nbsp;&nbsp;&nbsp;1903 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class B, 4.56%, 10/15/30 (1) | 1955 | &nbsp;&nbsp;&nbsp;1958 |
| Affirm Master Trust, Series 2025-2A, Class A, 4.67%, 7/15/33 (1) | 1695 | &nbsp;&nbsp;&nbsp;1707 |
| Affirm Master Trust, Series 2025-3A, Class A, 4.45%, 10/16/34 (1) | 3150 | &nbsp;&nbsp;&nbsp;3173 |
| Affirm Master Trust, Series 2026-1A, Class A, 4.37%, 2/15/34 (1) | 2430 | &nbsp;&nbsp;&nbsp;2444 |
| Amur Equipment Finance Receivables X, Series 2022-1A, Class D, 2.91%, 8/21/28 (1) | 3080 | &nbsp;&nbsp;&nbsp;3068 |
| BRE Grand Islander Timeshare Issuer, Series 2019-A, Class A, 3.28%, 9/26/33 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| Dell Equipment Finance Trust, Series 2023-3, Class C, 6.17%, 4/23/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 |
| Dell Equipment Finance Trust, Series 2024-2, Class A3, 4.59%, 8/22/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 |
| Dell Equipment Finance Trust, Series 2024-2, Class C, 4.99%, 8/22/30 (1) | 1650 | &nbsp;&nbsp;&nbsp;1665 |
| DLLAA, Series 2023-1A, Class A3, 5.64%, 2/22/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 |
| Home Partners of America Trust, Series 2022-1, Class A, 3.93%, 4/17/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658 |
| HPEFS Equipment Trust, Series 2023-2A, Class C, 6.48%, 1/21/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 |
| HPEFS Equipment Trust, Series 2024-2A, Class B, 5.35%, 10/20/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 |
| Jack in the Box Funding, Series 2022-1A, Class A2I, 3.445%, 2/26/52 (1) | 1163 | &nbsp;&nbsp;&nbsp;1134 |
| Kubota Credit Owner Trust, Series 2023-2A, Class A3, 5.28%, 1/18/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 |
| M&T Equipment Notes, Series 2023-1A, Class A3, 5.74%, 7/15/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 |
| M&T Equipment Notes, Series 2023-1A, Class A4, 5.75%, 7/15/30 (1) | 1593 | &nbsp;&nbsp;&nbsp;1613 |
| MVW, Series 2020-1A, Class A, 1.74%, 10/20/37 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| MVW, Series 2021-1WA, Class A, 1.14%, 1/22/41 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| MVW, Series 2021-2A, Class A, 1.43%, 5/20/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 |
| Navient Private Education Refi Loan Trust, Series 2021-CA, Class A, 1.06%, 10/15/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Nelnet Student Loan Trust, Series 2021-DA, Class AFL, FRN, 1M TSFR + 0.80%, 4.472%, 4/20/62 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Octane Receivables Trust, Series 2024-3A, Class A2, 4.94%, 5/20/30 (1) | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 |
| Octane Receivables Trust, Series 2024-RVM1, Class A, 5.01%, 1/22/46 (1) | 2420 | &nbsp;&nbsp;&nbsp;&nbsp;2465 |
| SEB Funding, Series 2021-1A, Class A2, 4.969%, 1/30/52 (1) | 1202 | &nbsp;&nbsp;&nbsp;&nbsp;1202 |
| SFS Auto Receivables Securitization Trust, Series 2024-1A, Class A3, 4.95%, 5/21/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 |
| Verdant Receivables, Series 2023-1A, Class A2, 6.24%, 1/13/31 (1) | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 |
| Verizon Master Trust, Series 2024-6, Class B, 4.42%, 8/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976 |
|  |  | &nbsp;&nbsp;&nbsp;27036 |
| **Student Loans 0.0%** |  |  |
| Navient Private Education Refi Loan Trust, Series 2019-A, Class A2A, 3.42%, 1/15/43 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Navient Private Education Refi Loan Trust, Series 2019-D, Class A2B, FRN, 1M TSFR + 1.16%, 4.824%, 12/15/59 (1) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 |
| Navient Private Education Refi Loan Trust, Series 2020-FA, Class A, 1.22%, 7/15/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Navient Private Education Refi Loan Trust, Series 2020-GA, Class A, 1.17%, 9/16/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| Navient Private Education Refi Loan Trust, Series 2020-HA, Class A, 1.31%, 1/15/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| Navient Private Education Refi Loan Trust, Series 2021-GA, Class A, 1.58%, 4/15/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 |
| **Total Asset-Backed Securities<br> (Cost $244,655)** |  | **245465** |
| **CORPORATE BONDS 43.3%** | **CORPORATE BONDS 43.3%** | **CORPORATE BONDS 43.3%** |
| **Aerospace & Defense 1.2%** |  |  |
| Boeing, 2.70%, 2/1/27 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989 |
| Boeing, 2.80%, 3/1/27 | 3500 | &nbsp;&nbsp;&nbsp;&nbsp;3458 |
| Boeing, 3.10%, 5/1/26 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998 |
| Booz Allen Hamilton, 3.875%, 9/1/28 (1) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 |
| Hexcel, 4.20%, 2/15/27 | 2048 | &nbsp;&nbsp;&nbsp;&nbsp;2046 |
| Rolls-Royce, 5.75%, 10/15/27 (1) | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;3070 |
|  |  | &nbsp;&nbsp;&nbsp;11546 |
| **Airlines 0.1%** |  |  |
| Delta Air Lines, 4.95%, 7/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 |
| **Automotive 3.2%** |  |  |
| American Honda Finance, FRN, SOFRINDX + 0.72%, 4.40%, 10/5/26 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;2506 |
| American Honda Finance, FRN, SOFR + 0.87%, 4.535%, 7/9/27 | 2200 | &nbsp;&nbsp;&nbsp;&nbsp;2212 |
| Daimler Truck Finance North America, 4.30%, 8/12/27 (1) | 1055 | &nbsp;&nbsp;&nbsp;&nbsp;1061 |
| Daimler Truck Finance North America, 5.125%, 9/25/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 |
| Ford Motor Credit, 2.70%, 8/10/26 | 1950 | &nbsp;&nbsp;&nbsp;&nbsp;1936 |
| Ford Motor Credit, 4.97%, 4/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 |
| Ford Motor Credit, 5.125%, 11/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Ford Motor Credit, 6.95%, 6/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 |
| General Motors Financial, FRN, SOFR + 1.04%, 4.71%, 2/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 |
| General Motors Financial, 5.00%, 7/15/27 | 2500 | &nbsp;&nbsp;&nbsp;2532 |
| General Motors Financial, FRN, SOFRINDX + 1.35%, 5.014%, 5/8/27 | 1250 | &nbsp;&nbsp;&nbsp;1258 |
| Hyundai Capital America, 2.375%, 10/15/27 (1) | 2000 | &nbsp;&nbsp;&nbsp;1950 |
| Hyundai Capital America, 4.25%, 1/8/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 |
| Hyundai Capital America, FRN, SOFR + 1.12%, 4.807%, 6/23/27 (1) | 1500 | &nbsp;&nbsp;&nbsp;1509 |
| Hyundai Capital America, 4.85%, 3/25/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611 |
| Hyundai Capital America, 6.50%, 1/16/29 (1) | 1000 | &nbsp;&nbsp;&nbsp;1062 |
| LG Energy Solution, 5.375%, 7/2/27 | 1700 | &nbsp;&nbsp;&nbsp;1727 |
| Stellantis Finance US, 1.711%, 1/29/27 (1) | 1325 | &nbsp;&nbsp;&nbsp;1294 |
| TML Holdings Pte, 4.35%, 6/9/26 | 1720 | &nbsp;&nbsp;&nbsp;1719 |
| Volkswagen Group of America Finance, 4.85%, 8/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 |
| Volkswagen Group of America Finance, 4.90%, 8/14/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 |
| Volkswagen Group of America Finance, 4.95%, 3/25/27 (1) | 3000 | &nbsp;&nbsp;&nbsp;3027 |
| Volkswagen Group of America Finance, 4.95%, 8/15/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 |
| Volkswagen Group of America Finance, 5.25%, 3/22/29 (1) | 1500 | &nbsp;&nbsp;&nbsp;1541 |
| Volkswagen Group of America Finance, 6.00%, 11/16/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 |
| Volkswagen Group of America Finance, 6.20%, 11/16/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 |
|  |  | 31323 |
| **Banking 9.8%** |  |  |
| ABN AMRO Bank, 4.80%, 4/18/26 (1) | 2200 | &nbsp;&nbsp;&nbsp;2201 |
| ABN AMRO Bank, VR, 6.339%, 9/18/27 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 |
| Banco Bilbao Vizcaya Argentaria, 4.15%, 3/3/29 (2) | 3000 | &nbsp;&nbsp;&nbsp;3000 |
| Banco Santander, FRN, SOFR + 1.38%, 5.081%, 3/14/28 | 1200 | &nbsp;&nbsp;&nbsp;1207 |
| Banco Santander, VR, 5.552%, 3/14/28 (3) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 |
| Bank of Montreal, FRN, SOFRINDX + 0.88%, 4.58%, 9/10/27 | 3000 | &nbsp;&nbsp;&nbsp;3007 |
| Banque Federative du Credit Mutuel, FRN, SOFRINDX + 1.07%, 4.742%, 2/16/28 (1) | 3800 | &nbsp;&nbsp;&nbsp;3828 |
| Banque Federative du Credit Mutuel, 5.088%, 1/23/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217 |
| Banque Federative du Credit Mutuel, 5.896%, 7/13/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 |
| Barclays, VR, 2.279%, 11/24/27 (3) | 2000 | &nbsp;&nbsp;&nbsp;1974 |
| Barclays, VR, 4.219%, 5/24/30 (3) | 1695 | &nbsp;&nbsp;&nbsp;1695 |
| Barclays, VR, 4.837%, 9/10/28 (3) | 1000 | &nbsp;&nbsp;&nbsp;1011 |
| Barclays, 5.20%, 5/12/26 | 1650 | &nbsp;&nbsp;&nbsp;1652 |
| Barclays, VR, 5.674%, 3/12/28 (3) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 |
| BNP Paribas, VR, 2.159%, 9/15/29 (1)(3) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951 |
| BNP Paribas, 4.375%, 5/12/26 (1) | 2000 | &nbsp;&nbsp;&nbsp;2000 |
| BNP Paribas, 4.625%, 3/13/27 (1) | 1000 | &nbsp;&nbsp;&nbsp;1005 |
| BPCE, 3.50%, 10/23/27 (1) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993 |
| BPCE, 4.625%, 9/12/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 |
| CaixaBank, VR, 4.634%, 7/3/29 (1)(3) | 3801 | &nbsp;&nbsp;&nbsp;3847 |
| CaixaBank, VR, 6.684%, 9/13/27 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 |
| Canadian Imperial Bank of Commerce, VR, 4.283%, 1/29/30 (3) | 1390 | &nbsp;&nbsp;&nbsp;1398 |
| Capital One, 3.45%, 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 |
| Capital One Financial, 3.75%, 7/28/26 | 3175 | &nbsp;&nbsp;&nbsp;3168 |
| Citibank, FRN, SOFR + 0.78%, 4.519%, 5/29/27 | 2250 | &nbsp;&nbsp;&nbsp;2263 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Cooperatieve Rabobank, 3.75%, 7/21/26 | 1850 | &nbsp;&nbsp;&nbsp;1847 |
| Credit Agricole, VR, 5.23%, 1/9/29 (1)(3) | 3995 | &nbsp;&nbsp;&nbsp;4078 |
| Danske Bank, VR, 4.298%, 4/1/28 (1)(3) | 1000 | &nbsp;&nbsp;&nbsp;1004 |
| Deutsche Bank, VR, 7.146%, 7/13/27 (3) | 1000 | &nbsp;&nbsp;&nbsp;1011 |
| Discover Financial Services, 4.10%, 2/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |
| Emirates NBD Bank PJSC, 4.195%, 1/13/29 | 3270 | &nbsp;&nbsp;&nbsp;3279 |
| First Abu Dhabi Bank PJSC, 5.125%, 10/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 |
| HDFC Bank, 5.196%, 2/15/27 | 1660 | &nbsp;&nbsp;&nbsp;1675 |
| HDFC Bank, 5.686%, 3/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 |
| HSBC Holdings, VR, 5.597%, 5/17/28 (3) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 |
| ING Groep, VR, 1.726%, 4/1/27 (3) | 1500 | &nbsp;&nbsp;&nbsp;1497 |
| Lloyds Banking Group, 4.65%, 3/24/26 | 3350 | &nbsp;&nbsp;&nbsp;3351 |
| Manufacturers & Traders Trust, VR, 4.762%, 7/6/28 (3) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 |
| Morgan Stanley, VR, 4.133%, 10/18/29 (3) | 3000 | &nbsp;&nbsp;&nbsp;3004 |
| Morgan Stanley Bank, FRN, SOFR + 0.94%, 4.607%, 7/14/28 | 1500 | &nbsp;&nbsp;&nbsp;1507 |
| Nationwide Building Society, 4.00%, 9/14/26 (1) | 1300 | &nbsp;&nbsp;&nbsp;1297 |
| Nationwide Building Society, VR, 6.557%, 10/18/27 (1)(3) | 1460 | &nbsp;&nbsp;&nbsp;1483 |
| PNC Bank, FRN, SOFR + 0.73%, 4.396%, 7/21/28 | 1500 | &nbsp;&nbsp;&nbsp;1502 |
| Santander UK Group Holdings, VR, 1.673%, 6/14/27 (3) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993 |
| Santander UK Group Holdings, VR, 2.469%, 1/11/28 (3) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 |
| Santander UK Group Holdings, VR, 4.32%, 9/22/29 (3) | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 |
| Societe Generale, 4.25%, 8/19/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 |
| Societe Generale, FRN, SOFR + 1.10%, 4.779%, 2/19/27 (1) | 1510 | &nbsp;&nbsp;&nbsp;1516 |
| Societe Generale, VR, 5.249%, 5/22/29 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 |
| Societe Generale, VR, 5.50%, 4/13/29 (1)(3) | 1000 | &nbsp;&nbsp;&nbsp;1026 |
| Societe Generale, VR, 5.519%, 1/19/28 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| Standard Chartered, VR, 4.299%, 1/13/30 (1)(3) | 3740 | &nbsp;&nbsp;&nbsp;3751 |
| Standard Chartered, 4.30%, 2/19/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 |
| Standard Chartered, VR, 5.545%, 1/21/29 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641 |
| Standard Chartered, FRN, SOFR + 1.93%, 5.602%, 7/6/27 (1) | 1288 | &nbsp;&nbsp;&nbsp;1294 |
| Standard Chartered, VR, 5.688%, 5/14/28 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 |
| Standard Chartered, VR, 6.187%, 7/6/27 (1)(3)(4) | 1900 | &nbsp;&nbsp;&nbsp;1914 |
| State Bank of India/London, 2.49%, 1/26/27 | 1530 | &nbsp;&nbsp;&nbsp;1509 |
| State Bank of India/London, 4.875%, 5/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984 |
| Toronto-Dominion Bank, FRN, SOFR + 0.91%, 4.649%, 6/2/28 | 5000 | &nbsp;&nbsp;&nbsp;5028 |
| UBS Group, VR, 6.327%, 12/22/27 (1)(3) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 |
| US Bank / Cincinnati, FRN, SOFR + 0.91%, 4.582%, 5/15/28 | 2250 | &nbsp;&nbsp;&nbsp;2259 |
| Wells Fargo, VR, 4.182%, 1/23/30 (3) | 4500 | &nbsp;&nbsp;&nbsp;4516 |
| Wells Fargo, VR, 5.707%, 4/22/28 (3) | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 |
|  |  | 96833 |
| **Beverages 0.6%** |  |  |
| Keurig Dr Pepper, FRN, SOFR + 0.58%, 4.252%, 11/15/26 | 3500 | &nbsp;&nbsp;&nbsp;3500 |
| Keurig Dr Pepper, 4.35%, 5/15/28 | 1500 | &nbsp;&nbsp;&nbsp;1509 |
| Keurig Dr Pepper, 5.10%, 3/15/27 | 1250 | &nbsp;&nbsp;&nbsp;1263 |
|  |  | &nbsp;&nbsp;&nbsp;6272 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **Building & Real Estate 0.1%** |  |  |
| Emaar Sukuk, 3.635%, 9/15/26 | 1295 | &nbsp;&nbsp;&nbsp;1291 |
|  |  | &nbsp;&nbsp;&nbsp;1291 |
| **Cable Operators 0.5%** |  |  |
| Charter Communications Operating / Charter Communications Operating Capital, 3.75%, 2/15/28 | 3000 | &nbsp;&nbsp;&nbsp;2973 |
| Charter Communications Operating / Charter Communications Operating Capital, 4.20%, 3/15/28 | 2000 | &nbsp;&nbsp;&nbsp;1998 |
| Cox Communications, 3.35%, 9/15/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 |
|  |  | &nbsp;&nbsp;&nbsp;5319 |
| **Chemicals 0.4%** |  |  |
| Celanese US Holdings, 1.40%, 8/5/26 | 1452 | &nbsp;&nbsp;&nbsp;1427 |
| EQUATE Petrochemical, 4.25%, 11/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519 |
| MEGlobal, 2.625%, 4/28/28 | 2259 | &nbsp;&nbsp;&nbsp;2175 |
|  |  | &nbsp;&nbsp;&nbsp;4121 |
| **Consumer Products 0.4%** |  |  |
| KT&G, 5.00%, 5/2/28 | 2380 | &nbsp;&nbsp;&nbsp;2429 |
| LG Electronics, 5.625%, 4/24/27 (1) | 1760 | &nbsp;&nbsp;&nbsp;1790 |
|  |  | &nbsp;&nbsp;&nbsp;4219 |
| **Drugs 0.2%** |  |  |
| Viatris, 2.30%, 6/22/27 | 1750 | &nbsp;&nbsp;&nbsp;1706 |
|  |  | &nbsp;&nbsp;&nbsp;1706 |
| **Energy 2.1%** |  |  |
| Abu Dhabi National Energy, 4.375%, 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661 |
| Cheniere Energy, 4.625%, 10/15/28 | 1326 | &nbsp;&nbsp;&nbsp;1326 |
| Colorado Interstate Gas / Colorado Interstate Issuing, 4.15%, 8/15/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636 |
| Continental Resources, 2.268%, 11/15/26 (1) | 5356 | &nbsp;&nbsp;&nbsp;5282 |
| Continental Resources, 4.375%, 1/15/28 | 1700 | &nbsp;&nbsp;&nbsp;1702 |
| EQT, 3.125%, 5/15/26 (1) | 1034 | &nbsp;&nbsp;&nbsp;1031 |
| MPLX, 4.125%, 3/1/27 | 1000 | &nbsp;&nbsp;&nbsp;1001 |
| Occidental Petroleum, 3.20%, 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 |
| ONEOK, 4.85%, 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 |
| ONEOK, 5.55%, 11/1/26 | 1221 | &nbsp;&nbsp;&nbsp;1232 |
| ONEOK, 5.625%, 1/15/28 (1) | 1383 | &nbsp;&nbsp;&nbsp;1413 |
| SA Global Sukuk, 1.602%, 6/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854 |
| South Bow USA Infrastructure Holdings, 4.911%, 9/1/27 | 1865 | &nbsp;&nbsp;&nbsp;1884 |
| Targa Resources Partner, 5.00%, 1/15/28 | 3701 | &nbsp;&nbsp;&nbsp;3702 |
|  |  | 21205 |
| **Entertainment & Leisure 1.0%** |  |  |
| Carnival, 4.00%, 8/1/28 (1) | 5000 | &nbsp;&nbsp;&nbsp;4961 |
| Royal Caribbean Cruises, 5.375%, 7/15/27 (1) | 3603 | &nbsp;&nbsp;&nbsp;3630 |
| Royal Caribbean Cruises, 5.50%, 8/31/26 (1) | 1750 | &nbsp;&nbsp;&nbsp;1750 |
|  |  | 10341 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **Exploration & Production 0.0%** |  |  |
| Lundin Energy, 2.00%, 7/15/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 |
| **Financial 1.7%** |  |  |
| Ally Financial, VR, 5.737%, 5/15/29 (3) | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 |
| Bank Mandiri Persero, 5.50%, 4/4/26 | 1360 | &nbsp;&nbsp;&nbsp;1363 |
| Jackson Financial, 5.17%, 6/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 |
| LPL Holdings, 4.625%, 11/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 |
| LPL Holdings, 4.90%, 4/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789 |
| LPL Holdings, 5.70%, 5/20/27 | 3680 | &nbsp;&nbsp;&nbsp;3737 |
| OTP Bank Nyrt, VR, 7.50%, 5/25/27 (3) | 1750 | &nbsp;&nbsp;&nbsp;1765 |
| Rocket Mortgage / Rocket Mortgage Co-Issuer, 2.875%, 10/15/26 (1) | 3500 | &nbsp;&nbsp;&nbsp;3458 |
| Stellantis Financial Services US, FRN, SOFR + 1.69%, 5.38%, 9/15/28 (1) | 1600 | &nbsp;&nbsp;&nbsp;1604 |
| Western Union, 1.35%, 3/15/26 | 2134 | &nbsp;&nbsp;&nbsp;2132 |
|  |  | 17233 |
| **Food Processing 0.2%** |  |  |
| Conagra Brands, 4.85%, 11/1/28 | 1452 | &nbsp;&nbsp;&nbsp;1472 |
|  |  | &nbsp;&nbsp;&nbsp;1472 |
| **Food/Tobacco 0.8%** |  |  |
| BAT Capital, 3.557%, 8/15/27 | 2100 | &nbsp;&nbsp;&nbsp;2089 |
| BAT Capital, 4.70%, 4/2/27 | 3402 | &nbsp;&nbsp;&nbsp;3425 |
| Imperial Brands Finance, 3.50%, 7/26/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 |
| Philip Morris International, FRN, SOFR + 0.66%, 4.328%, 10/27/28 | 2000 | &nbsp;&nbsp;&nbsp;2001 |
|  |  | &nbsp;&nbsp;&nbsp;7752 |
| **Gaming 0.3%** |  |  |
| Gohl Capital, 4.25%, 1/24/27 | 2535 | &nbsp;&nbsp;&nbsp;2526 |
|  |  | &nbsp;&nbsp;&nbsp;2526 |
| **Gas & Gas Transmission 0.4%** |  |  |
| National Fuel Gas, 3.95%, 9/15/27 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998 |
| National Fuel Gas, 5.50%, 10/1/26 | 2708 | &nbsp;&nbsp;&nbsp;2729 |
|  |  | &nbsp;&nbsp;&nbsp;3727 |
| **Health Care 3.8%** |  |  |
| Baxter International, 1.915%, 2/1/27 | 2588 | &nbsp;&nbsp;&nbsp;2537 |
| Cencora, 3.95%, 2/13/29 | 1150 | &nbsp;&nbsp;&nbsp;1150 |
| Centene, 4.25%, 12/15/27 | 2612 | &nbsp;&nbsp;&nbsp;2596 |
| HCA, 4.50%, 2/15/27 | 4350 | &nbsp;&nbsp;&nbsp;4357 |
| HCA, 5.375%, 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 |
| Highmark, 1.45%, 5/10/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697 |
| Icon Investments Six DAC, 5.809%, 5/8/27 | 2258 | &nbsp;&nbsp;&nbsp;2279 |
| IQVIA, 6.25%, 2/1/29 | 5000 | &nbsp;&nbsp;&nbsp;5255 |
| Medline Borrower, 3.875%, 4/1/29 (1) | 4500 | &nbsp;&nbsp;&nbsp;4426 |
| Medline Borrower, 6.25%, 4/1/29 (1) | 3037 | &nbsp;&nbsp;&nbsp;3134 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| PRA Health Sciences, 2.875%, 7/15/26 (1) | 2250 | &nbsp;&nbsp;&nbsp;2232 |
| Solventum, 5.45%, 2/25/27 | 3563 | &nbsp;&nbsp;&nbsp;3611 |
| Utah Acquisition Sub, 3.95%, 6/15/26 | 4854 | &nbsp;&nbsp;&nbsp;4846 |
|  |  | 37871 |
| **Home Builders 0.3%** |  |  |
| Amrize Finance US, 3.50%, 9/22/26 | 1500 | &nbsp;&nbsp;&nbsp;1492 |
| Amrize Finance US, 4.60%, 4/7/27 | 1550 | &nbsp;&nbsp;&nbsp;1561 |
|  |  | &nbsp;&nbsp;&nbsp;3053 |
| **Industrial - Other 0.4%** |  |  |
| AGCO, 5.45%, 3/21/27 | 3974 | &nbsp;&nbsp;&nbsp;4021 |
|  |  | &nbsp;&nbsp;&nbsp;4021 |
| **Information Technology 2.1%** |  |  |
| Amphenol, FRN, SOFR + 0.53%, 4.202%, 11/15/27 | 5500 | &nbsp;&nbsp;&nbsp;5500 |
| Fiserv, 5.15%, 3/15/27 | 2950 | &nbsp;&nbsp;&nbsp;2978 |
| Fiserv, 5.375%, 8/21/28 | 3750 | &nbsp;&nbsp;&nbsp;3844 |
| Intel, 2.60%, 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 |
| Leidos, 4.10%, 3/15/29 (2) | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982 |
| Marvell Technology, 1.65%, 4/15/26 | 2500 | &nbsp;&nbsp;&nbsp;2493 |
| NXP / NXP Funding / NXP USA, 3.15%, 5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 |
| NXP / NXP Funding / NXP USA, 3.875%, 6/18/26 | 2000 | &nbsp;&nbsp;&nbsp;1999 |
| NXP / NXP Funding / NXP USA, 4.30%, 8/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 |
| SK Hynix, 4.25%, 9/11/28 (1) | 1750 | &nbsp;&nbsp;&nbsp;1764 |
|  |  | 21090 |
| **Insurance 1.3%** |  |  |
| Athene Global Funding, 4.95%, 1/7/27 (1)(4) | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 |
| Brighthouse Financial Global Funding, 1.55%, 5/24/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 |
| Brown & Brown, 4.70%, 6/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 |
| Corebridge Financial, 3.65%, 4/5/27 | 2947 | &nbsp;&nbsp;&nbsp;2932 |
| Equitable America Global Funding, 4.30%, 12/15/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 |
| Equitable America Global Funding, FRN, SOFR + 0.71%, 4.40%, 9/15/27 (1) | 1170 | &nbsp;&nbsp;&nbsp;1171 |
| Jackson National Life Global Funding, 5.55%, 7/2/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554 |
| Marsh & McLennan, FRN, SOFRINDX + 0.70%, 4.364%, 11/8/27 | 4832 | &nbsp;&nbsp;&nbsp;4847 |
| Voya Financial, 3.65%, 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899 |
|  |  | 12381 |
| **Investment Dealers 0.2%** |  |  |
| Bank of America, 6.22%, 9/15/26 | 2097 | &nbsp;&nbsp;&nbsp;2120 |
|  |  | &nbsp;&nbsp;&nbsp;2120 |
| **Manufacturing 1.0%** |  |  |
| CNH Industrial Capital, 1.45%, 7/15/26 | 1108 | &nbsp;&nbsp;&nbsp;1096 |
| CNH Industrial Capital, 4.75%, 3/21/28 | 4000 | &nbsp;&nbsp;&nbsp;4054 |
| Fortive, 3.15%, 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449 |
| Regal Rexnord, 6.05%, 4/15/28 | 3850 | &nbsp;&nbsp;&nbsp;3992 |
|  |  | &nbsp;&nbsp;&nbsp;9591 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **Media & Communications 0.0%** |  |  |
| Prosus, 3.257%, 1/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 |
| **Metals & Mining 1.5%** |  |  |
| ABJA Investment, 5.45%, 1/24/28 | 1730 | &nbsp;&nbsp;&nbsp;1767 |
| Anglo American Capital, 4.00%, 9/11/27 (1) | 4000 | &nbsp;&nbsp;&nbsp;3988 |
| ArcelorMittal, 4.55%, 3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627 |
| Corp Nacional del Cobre de Chile, 3.625%, 8/1/27 | 1760 | &nbsp;&nbsp;&nbsp;1750 |
| Freeport Indonesia PT, 4.763%, 4/14/27 | 1700 | &nbsp;&nbsp;&nbsp;1709 |
| Freeport-McMoRan, 4.125%, 3/1/28 | 1131 | &nbsp;&nbsp;&nbsp;1130 |
| Freeport-McMoRan, 4.375%, 8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708 |
| Freeport-McMoRan, 5.00%, 9/1/27 | 1544 | &nbsp;&nbsp;&nbsp;1546 |
| Freeport-McMoRan, 5.25%, 9/1/29 | 1864 | &nbsp;&nbsp;&nbsp;1892 |
|  |  | 15117 |
| **Oil Field Services 0.2%** |  |  |
| Thaioil Treasury Center, 4.625%, 11/20/28 | 1920 | &nbsp;&nbsp;&nbsp;1932 |
|  |  | &nbsp;&nbsp;&nbsp;1932 |
| **Other Telecommunications 0.5%** |  |  |
| Axiata SPV2, 4.357%, 3/24/26 | 1200 | &nbsp;&nbsp;&nbsp;1200 |
| KT, 4.375%, 1/3/29 (1) | 2460 | &nbsp;&nbsp;&nbsp;2487 |
| NTT Finance, FRN, SOFR + 1.08%, 4.743%, 7/16/28 (1) | 1165 | &nbsp;&nbsp;&nbsp;1176 |
|  |  | &nbsp;&nbsp;&nbsp;4863 |
| **Petroleum 0.1%** |  |  |
| Tengizchevroil Finance International, 4.00%, 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
| **Pharmaceuticals 1.0%** |  |  |
| Bayer US Finance, 6.125%, 11/21/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 |
| Bayer US Finance II, 4.375%, 12/15/28 (1) | 7500 | &nbsp;&nbsp;&nbsp;7527 |
| EMD Finance, 4.125%, 8/15/28 (1) | 1455 | &nbsp;&nbsp;&nbsp;1462 |
|  |  | &nbsp;&nbsp;&nbsp;9859 |
| **Real Estate Investment Trust Securities 1.7%** |  |  |
| American Homes 4 Rent, 4.25%, 2/15/28 | 4500 | &nbsp;&nbsp;&nbsp;4509 |
| Brixmor Operating Partnership, 3.90%, 3/15/27 | 2525 | &nbsp;&nbsp;&nbsp;2522 |
| Brixmor Operating Partnership, 4.125%, 6/15/26 | 1100 | &nbsp;&nbsp;&nbsp;1099 |
| CubeSmart, 3.125%, 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 |
| DOC DR, 3.95%, 1/15/28 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999 |
| Essex Portfolio, 3.375%, 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 |
| Healthcare Realty Holdings, 3.50%, 8/1/26 | 4295 | &nbsp;&nbsp;&nbsp;4276 |
| Healthpeak OP, 1.35%, 2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 |
| Healthpeak OP, 3.25%, 7/15/26 | 1500 | &nbsp;&nbsp;&nbsp;1495 |
|  |  | 16574 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| **Retail 0.4%** |  |  |
| CVS Health, 1.30%, 8/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
| CVS Health, 2.875%, 6/1/26 | 1480 | &nbsp;&nbsp;&nbsp;1476 |
| CVS Health, 3.625%, 4/1/27 | 2000 | &nbsp;&nbsp;&nbsp;1994 |
| Ross Stores, 0.875%, 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 |
|  |  | &nbsp;&nbsp;&nbsp;4353 |
| **Services 1.5%** |  |  |
| Fidelity National Information Services, 3.75%, 5/21/29 | 1339 | &nbsp;&nbsp;&nbsp;1320 |
| Fidelity National Information Services, 4.70%, 7/15/27 | 1900 | &nbsp;&nbsp;&nbsp;1908 |
| Gartner, 4.50%, 7/1/28 (1) | 4765 | &nbsp;&nbsp;&nbsp;4696 |
| Global Payments, 4.50%, 11/15/28 | 4000 | &nbsp;&nbsp;&nbsp;4014 |
| MSCI, 4.00%, 11/15/29 (1) | 2500 | &nbsp;&nbsp;&nbsp;2454 |
|  |  | 14392 |
| **Supermarkets 0.2%** |  |  |
| Cencosud, 4.375%, 7/17/27 (1) | 1720 | &nbsp;&nbsp;&nbsp;1723 |
|  |  | &nbsp;&nbsp;&nbsp;1723 |
| **Transportation 0.4%** |  |  |
| GATX, 5.40%, 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 |
| Penske Truck Leasing / PTL Finance, 3.40%, 11/15/26 (1) | 3062 | &nbsp;&nbsp;&nbsp;3048 |
| Penske Truck Leasing / PTL Finance, 1.70%, 6/15/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566 |
| Penske Truck Leasing / PTL Finance, 5.35%, 1/12/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
|  |  | &nbsp;&nbsp;&nbsp;3928 |
| **Transportation (Excluding Railroads) 0.2%** |  |  |
| DP World Crescent, 4.848%, 9/26/28 | 2000 | &nbsp;&nbsp;&nbsp;2018 |
|  |  | &nbsp;&nbsp;&nbsp;2018 |
| **Utilities 1.7%** |  |  |
| Ameren, 1.75%, 3/15/28 | 1129 | &nbsp;&nbsp;&nbsp;1080 |
| Enel Finance International NV, 2.125%, 7/12/28 (1) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957 |
| FirstEnergy, 3.90%, 7/15/27 | 1104 | &nbsp;&nbsp;&nbsp;1107 |
| Pacific Gas & Electric, 3.30%, 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 |
| Pacific Gas & Electric, 3.30%, 12/1/27 | 2003 | &nbsp;&nbsp;&nbsp;1978 |
| Pacific Gas & Electric, 5.45%, 6/15/27 | 2798 | &nbsp;&nbsp;&nbsp;2843 |
| Sempra, 3.25%, 6/15/27 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991 |
| Southern California Edison, 4.70%, 6/1/27 | 3000 | &nbsp;&nbsp;&nbsp;3023 |
| Southern California Edison, 4.875%, 2/1/27 | 1500 | &nbsp;&nbsp;&nbsp;1510 |
| Southern California Edison, 4.90%, 6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 |
| Southern California Edison, 5.15%, 6/1/29 | 1795 | &nbsp;&nbsp;&nbsp;1846 |
|  |  | 16448 |
| **Wireless Communications 1.8%** |  |  |
| American Tower, 3.125%, 1/15/27 | 2150 | &nbsp;&nbsp;&nbsp;2132 |
| American Tower, 3.65%, 3/15/27 | 1500 | &nbsp;&nbsp;&nbsp;1495 |
| Crown Castle, 1.05%, 7/15/26 | 1265 | &nbsp;&nbsp;&nbsp;1251 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Crown Castle, 3.80%, 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 |
| Crown Castle, 4.00%, 3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773 |
| Crown Castle, 5.00%, 1/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;1210 |
| Crown Castle International, 2.90%, 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 |
| Crown Castle Towers, 4.241%, 7/15/48 (1) | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2005 |
| Rogers Communications, 3.20%, 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;3970 |
| Rogers Communications, 5.00%, 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588 |
| SBA Tower Trust, 1.631%, 5/15/51 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 |
| SBA Tower Trust, 1.84%, 4/15/27 (1) | &nbsp;&nbsp;&nbsp;&nbsp;2670 | &nbsp;&nbsp;&nbsp;&nbsp;2603 |
|  |  | &nbsp;&nbsp;&nbsp;18055 |
| **Total Corporate Bonds<br> (Cost $426,920)** |  | **428419** |
| **FOREIGN GOVERNMENT OBLIGATIONS & MUNICIPALITIES 0.9%** | **FOREIGN GOVERNMENT OBLIGATIONS & MUNICIPALITIES 0.9%** | **FOREIGN GOVERNMENT OBLIGATIONS & MUNICIPALITIES 0.9%** |
| **Foreign Govt & Muni (Excl Canadian) 0.9%** |  |  |
| Japan Treasury Discount Bills, 0.73%, 5/7/26 (JPY) | 685500 | &nbsp;&nbsp;&nbsp;&nbsp;4384 |
| Saudi Government International Bonds, 5.125%, 1/13/28 (1) | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;1377 |
| Saudi Government International Bonds, 4.125%, 1/12/29 (1) | &nbsp;&nbsp;&nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;3253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9014 |
| **Total Foreign Government Obligations & Municipalities<br> (Cost $8,994)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**9014** |
| **NON-U.S. GOVERNMENT MORTGAGE-BACKED SECURITIES 9.2%** | **NON-U.S. GOVERNMENT MORTGAGE-BACKED SECURITIES 9.2%** | **NON-U.S. GOVERNMENT MORTGAGE-BACKED SECURITIES 9.2%** |
| **Commercial Mortgage-Backed Securities 1.9%** |  |  |
| BAMLL Commercial Mortgage Securities Trust, Series 2018-PARK, Class A, ARM, 4.091%, 8/10/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914 |
| BX Trust, Series 2021-RISE, Class A, ARM, FRN, 1M TSFR + 0.86%, 4.522%, 11/15/36 (1) | &nbsp;&nbsp;&nbsp;&nbsp;1209 | &nbsp;&nbsp;&nbsp;&nbsp;1209 |
| BX Trust, Series 2025-VOLT, Class A, ARM, FRN, 1M TSFR + 1.70%, 5.36%, 12/15/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp;3778 |
| CSAIL Commercial Mortgage Trust, Series 2016-C7, Class A4, ARM, 3.21%, 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 |
| FREMF Mortgage Trust, Series 2016-K59, Class B, ARM, 3.563%, 11/25/49 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 |
| FREMF Mortgage Trust, Series 2017-K65, Class B, ARM, 4.084%, 7/25/50 (1) | &nbsp;&nbsp;&nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;1321 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2016-NINE, Class A, ARM, 2.854%, 9/6/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;8925 | &nbsp;&nbsp;&nbsp;&nbsp;8854 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2016-NINE, Class B, ARM, 2.854%, 9/6/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, FRN, 1M TSFR + 1.39%, 5.051%, 5/15/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 |
| TX Trust, Series 2024-HOU, Class A, FRN, 1M TSFR + 1.59%, 5.251%, 6/15/39 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-LC25, Class A4, ARM, 3.64%, 12/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 |
|  |  | &nbsp;&nbsp;&nbsp;18672 |
| **Whole Loans Backed 7.3%** |  |  |
| AMSR Trust, Series 2021-SFR2, Class A, 1.527%, 8/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 |
| AMSR Trust, Series 2021-SFR4, Class A, 2.117%, 12/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;1964 | &nbsp;&nbsp;&nbsp;&nbsp;1932 |
| AMSR Trust, Series 2021-SFR4, Class B, 2.417%, 12/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;3939 |
| Angel Oak Mortgage Trust, Series 2019-5, Class A1, CMO, ARM, 2.593%, 10/25/49 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Angel Oak Mortgage Trust, Series 2021-5, Class A1, CMO, ARM, 0.951%, 7/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Angel Oak Mortgage Trust, Series 2022-1, Class A1, CMO, ARM, 3.881%, 12/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 |
| Angel Oak Mortgage Trust, Series 2023-6, Class A1, CMO, ARM, 6.50%, 12/25/67 (1) | &nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;590 |
| BINOM Securitization Trust, Series 2021-INV1, Class A1, CMO, ARM, 2.034%, 6/25/56 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| COLT Mortgage Loan Trust, Series 2021-4, Class A1, CMO, ARM, 1.397%, 10/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 |
| COLT Mortgage Loan Trust, Series 2025-8, Class A1, CMO, ARM, 5.48%, 8/25/70 (1) | 1114 | 1126 |
| Connecticut Avenue Securities Trust, Series 2021-R03, Class 1M1, CMO, ARM, FRN, SOFR30A + 0.85%, 4.517%, 12/25/41 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Connecticut Avenue Securities Trust, Series 2022-R05, Class 2M1, CMO, ARM, FRN, SOFR30A + 1.90%, 5.568%, 4/25/42 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, CMO, ARM, FRN, SOFR30A + 1.90%, 5.568%, 6/25/43 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, CMO, ARM, FRN, SOFR30A + 1.10%, 4.767%, 2/25/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;125 |
| Connecticut Avenue Securities Trust, Series 2024-R03, Class 2M1, CMO, ARM, FRN, SOFR30A + 1.15%, 4.817%, 3/25/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp;227 |
| Connecticut Avenue Securities Trust, Series 2024-R05, Class 2M1, CMO, ARM, FRN, SOFR30A + 1.00%, 4.667%, 7/25/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Connecticut Avenue Securities Trust, Series 2025-R03, Class 2A1, CMO, ARM, FRN, SOFR30A + 1.45%, 5.117%, 3/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp;246 |
| Connecticut Avenue Securities Trust, Series 2025-R04, Class 1A1, CMO, ARM, FRN, SOFR30A + 1.00%, 4.667%, 5/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;877 |
| Connecticut Avenue Securities Trust, Series 2025-R06, Class 1M1, CMO, ARM, FRN, SOFR30A + 0.95%, 4.617%, 9/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp;849 |
| Cross Mortgage Trust, Series 2025-H7, Class A1, CMO, ARM, 4.934%, 9/25/70 (1) | 2754 | 2760 |
| EFMT, Series 2023-1, Class A1, CMO, ARM, 5.732%, 2/25/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| EFMT, Series 2024-INV2, Class A1, CMO, ARM, 5.035%, 10/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;786 |
| EFMT, Series 2025-INV2, Class A1, CMO, ARM, 5.387%, 5/26/70 (1) | 1359 | 1372 |
| EFMT, Series 2025-INV4, Class A1F, CMO, ARM, FRN, SOFR30A + 1.20%, 4.868%, 10/25/70 (1) | 1468 | 1469 |
| EFMT, Series 2025-NQM5, Class A1, CMO, ARM, 5.033%, 11/25/70 (1) | 1514 | 1522 |
| Ellington Financial Mortgage Trust, Series 2025-NQM6, Class A1, CMO, ARM, 5.001%, 12/25/70 (1) | 1567 | 1576 |
| Fannie Mae Connecticut Avenue Securities, Series 2026-R01, Class 2A1, CMO, ARM, FRN, SOFR30A + 0.85%, 4.517%, 1/25/46 (1) | 5286 | 5283 |
| Freddie Mac STACR REMIC Trust, Series 2021-HQA3, Class M2, CMO, ARM, FRN, SOFR30A + 2.10%, 5.768%, 9/25/41 (1) | 4000 | 4025 |
| Freddie Mac STACR REMIC Trust, Series 2022-DNA2, Class M1A, CMO, ARM, FRN, SOFR30A + 1.30%, 4.967%, 2/25/42 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 |
| Freddie Mac STACR REMIC Trust, Series 2022-DNA5, Class M1A, CMO, ARM, FRN, SOFR30A + 2.95%, 6.618%, 6/25/42 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 |
| Freddie Mac STACR REMIC Trust, Series 2023-HQA3, Class A1, CMO, ARM, FRN, SOFR30A + 1.85%, 5.518%, 11/25/43 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Freddie Mac STACR REMIC Trust, Series 2024-DNA2, Class A1, CMO, ARM, FRN, SOFR30A + 1.25%, 4.917%, 5/25/44 (1) | 2264 | 2276 |
| Freddie Mac STACR REMIC Trust, Series 2024-DNA3, Class A1, CMO, ARM, FRN, SOFR30A + 1.05%, 4.717%, 10/25/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp;&nbsp;&nbsp;248 |
| Freddie Mac STACR REMIC Trust, Series 2024-HQA1, Class A1, CMO, ARM, FRN, SOFR30A + 1.25%, 4.917%, 3/25/44 (1) | &nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;&nbsp;&nbsp;385 |
| Freddie Mac STACR REMIC Trust, Series 2025-DNA1, Class A1, CMO, ARM, FRN, SOFR30A + 0.95%, 4.617%, 1/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp;242 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Freddie Mac STACR REMIC Trust, Series 2025-DNA2, Class A1, CMO, ARM, FRN, SOFR30A + 1.10%, 4.767%, 5/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;664 |
| Freddie Mac STACR REMIC Trust, Series 2025-DNA3, Class A1, CMO, ARM, FRN, SOFR30A + 0.95%, 4.617%, 9/25/45 (1) | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp;879 |
| Freddie Mac STACR REMIC Trust, Series 2025-DNA4, Class A1, CMO, ARM, FRN, SOFR30A + 0.90%, 4.567%, 10/25/45 (1) | 2231 | 2233 |
| Freddie Mac STACR REMIC Trust, Series 2025-HQA1, Class M1, CMO, ARM, FRN, SOFR30A + 1.15%, 4.817%, 2/25/45 (1) | 1044 | 1044 |
| GS Mortgage-Backed Securities Trust, Series 2025-NQM3, Class A1, CMO, ARM, 5.137%, 11/25/65 (1) | 1467 | 1476 |
| HOMES Trust, Series 2024-AFC1, Class A1, CMO, ARM, 5.224%, 8/25/59 (1) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;870 |
| HOMES Trust, Series 2025-NQM4, Class A1, CMO, ARM, 5.22%, 8/25/70 (1) | 1599 | 1610 |
| JP Morgan Mortgage Trust, Series 2025-DSC2, Class A1, CMO, ARM, 5.195%, 10/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;929 |
| JP Morgan Mortgage Trust, Series 2025-DSC2, Class A1B, CMO, ARM, 5.195%, 10/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;469 |
| MFA Trust, Series 2020-NQM1, Class A1, CMO, ARM, 2.479%, 3/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;221 |
| MFA Trust, Series 2020-NQM2, Class A3, CMO, ARM, 1.947%, 4/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |
| MFA Trust, Series 2020-NQM3, Class A1, CMO, ARM, 1.014%, 1/26/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp;185 |
| MFA Trust, Series 2020-NQM3, Class A2, CMO, ARM, 1.324%, 1/26/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| MFA Trust, Series 2023-NQM3, Class A1, CMO, ARM, 6.617%, 7/25/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;855 |
| MFA Trust, Series 2023-NQM4, Class A1, CMO, ARM, 6.105%, 12/25/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;959 | &nbsp;&nbsp;&nbsp;&nbsp;968 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-DSC2, Class A1, CMO, ARM, 5.443%, 7/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;217 |
| New Residential Mortgage Loan Trust, Series 2025-NQM6, Class A1, CMO, ARM, 5.085%, 10/25/65 (1) | 3269 | 3292 |
| OBX Trust, Series 2019-EXP3, Class 2A2, CMO, ARM, FRN, 1M TSFR + 1.21%, 4.888%, 10/25/59 (1) | &nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;&nbsp;202 |
| OBX Trust, Series 2022-NQM1, Class A1, CMO, ARM, 2.305%, 11/25/61 (1) | &nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;113 |
| OBX Trust, Series 2023-NQM3, Class A1, CMO, ARM, 5.949%, 2/25/63 (1) | &nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp;&nbsp;&nbsp;688 |
| OBX Trust, Series 2025-NQM13, Class A1, CMO, ARM, 5.441%, 5/25/65 (1) | 1210 | 1223 |
| OBX Trust, Series 2025-NQM14, Class A1B, CMO, ARM, 5.162%, 7/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;262 |
| OBX Trust, Series 2025-NQM14, Class A1F, CMO, ARM, FRN, SOFR30A + 1.20%, 4.867%, 7/25/65 (1) | 1428 | 1429 |
| OBX Trust, Series 2025-NQM15, Class A1, CMO, ARM, 5.143%, 7/27/65 (1) | 1627 | 1640 |
| Progress Residential Trust, Series 2021-SFR3, Class D, 2.288%, 5/17/26 (1) | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;656 |
| Progress Residential Trust, Series 2021-SFR6, Class A, 1.524%, 7/17/38 (1) | 1107 | 1097 |
| Progress Residential Trust, Series 2021-SFR8, Class A, 1.51%, 10/17/38 (1) | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;428 |
| Progress Residential Trust, Series 2021-SFR8, Class C, 1.931%, 10/17/38 (1) | 2880 | 2837 |
| Spruce Hill Mortgage Loan Trust, Series 2022-SH1, Class A1A, CMO, ARM, 4.10%, 7/25/57 (1) | 4325 | 4319 |
| Structured Agency Credit Risk, Series 2026-DNA1, Class A1, CMO, ARM, FRN, SOFR30A + 0.85%, 4.508%, 2/25/46 (1) | 2845 | 2844 |
| Structured Agency Credit Risk, Series 2026-DNA1, Class M1, CMO, ARM, FRN, SOFR30A + 1.00%, 4.658%, 2/25/46 (1) | 1685 | 1685 |
| Towd Point Mortgage Trust, Series 2018-2, Class A1, CMO, ARM, 3.25%, 3/25/58 (1) | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;168 |
| Towd Point Mortgage Trust, Series 2019-HY3, Class M1, CMO, ARM, FRN, 1M TSFR + 1.61%, 5.288%, 10/25/59 (1) | 1000 | 1002 |
| Verus Securitization Trust, Series 2021-2, Class A1, CMO, ARM, 1.031%, 2/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
| Verus Securitization Trust, Series 2021-4, Class A1, CMO, ARM, 0.938%, 7/25/66 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 |
| Verus Securitization Trust, Series 2021-R3, Class A1, CMO, ARM, 1.02%, 4/25/64 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Verus Securitization Trust, Series 2023-3, Class A1, CMO, ARM, 5.93%, 3/25/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 |
| Verus Securitization Trust, Series 2023-8, Class A1, CMO, ARM, 6.259%, 12/25/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 |
| Verus Securitization Trust, Series 2023-INV3, Class A1, CMO, ARM, 6.876%, 11/25/68 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 |
| Verus Securitization Trust, Series 2024-1, Class A1, CMO, ARM, 5.712%, 1/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 |
| Verus Securitization Trust, Series 2024-INV1, Class A1, CMO, ARM, 6.116%, 3/25/69 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 |
| Verus Securitization Trust, Series 2025-7, Class A1B, CMO, ARM, 5.129%, 8/25/70 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 |
| Vista Point Securitization Trust, Series 2020-2, Class A1, CMO, ARM, 1.475%, 4/25/65 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
|  |  | 72183 |
| **Total Non-U.S. Government Mortgage-Backed Securities<br> (Cost $90,557)** |  | **90855** |
| **U.S. GOVERNMENT & AGENCY MORTGAGE-BACKED SECURITIES 1.5%** | **U.S. GOVERNMENT & AGENCY MORTGAGE-BACKED SECURITIES 1.5%** | **U.S. GOVERNMENT & AGENCY MORTGAGE-BACKED SECURITIES 1.5%** |
| **U.S. Government Agency Obligations 1.5%** |  |  |
| Federal Home Loan Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, 1/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 |
| &nbsp;&nbsp;&nbsp;6.00%, 10/1/54 - 8/1/55 | &nbsp;&nbsp;&nbsp;6561 | &nbsp;&nbsp;&nbsp;6779 |
| Federal National Mortgage Assn. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, 7/1/53 | &nbsp;&nbsp;&nbsp;6285 | &nbsp;&nbsp;&nbsp;6414 |
| &nbsp;&nbsp;&nbsp;6.00%, 10/1/54 | &nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;1103 |
|  |  | 14931 |
| **Total U.S. Government & Agency Mortgage-Backed Securities<br> (Cost $14,817)** |  | **14931** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (EXCLUDING MORTGAGE-BACKED) 3.3%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (EXCLUDING MORTGAGE-BACKED) 3.3%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (EXCLUDING MORTGAGE-BACKED) 3.3%** |
| **U.S. Treasury Obligations 3.3%** |  |  |
| U.S. Treasury Bills, 3.564%, 5/12/26 | &nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;4155 |
| U.S. Treasury Bills, 3.808%, 3/17/26 (5) | 11000 | 10983 |
| U.S. Treasury Notes, 3.375%, 11/30/27 | &nbsp;&nbsp;&nbsp;3695 | &nbsp;&nbsp;&nbsp;3693 |
| U.S. Treasury Notes, 3.50%, 10/31/27 | &nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;7509 |
| U.S. Treasury Notes, 4.125%, 1/31/27 (5) | &nbsp;&nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;1648 |
| U.S. Treasury Notes, 4.125%, 2/28/27 | &nbsp;&nbsp;&nbsp;1880 | &nbsp;&nbsp;&nbsp;1891 |
| U.S. Treasury Notes, 4.25%, 12/31/26 | &nbsp;&nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;1634 |
| U.S. Treasury Notes, 4.375%, 7/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 |
|  |  | 32040 |
| **Total U.S. Government Agency Obligations (Excluding Mortgage-Backed)<br> (Cost $31,979)** |  | **32040** |
| **SHORT-TERM INVESTMENTS 17.0%** | **SHORT-TERM INVESTMENTS 17.0%** | **SHORT-TERM INVESTMENTS 17.0%** |
| **Commercial Paper 17.0%** |  |  |
| **4(2) 17.0% (6)** |  |  |
| Bacardi-Martini, 4.046%, 3/12/26 | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;5991 |
| Bacardi-Martini, 4.122%, 3/24/26 | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;2592 |
| Brunswick, 4.153%, 3/5/26 | &nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;9493 |
| Canadian Natural Resources, 3.848%, 3/12/26 | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;8987 |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | | |
|:---|:---|:---|
|  | **Par/Shares** | **$ Value** |
| (Amounts in 000s) |  |  |
| Conagra Brands, 3.901%, 3/2/26 | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;2999 |
| Conagra Brands, 3.906%, 3/11/26 | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;7990 |
| Crown Castle, 4.101%, 3/19/26 | &nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;3193 |
| Energy Transfer, 3.791%, 3/2/26 | 12300 | &nbsp;&nbsp;&nbsp;12296 |
| Global Payments, 4.117%, 3/6/26 | &nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;9493 |
| Harley-Davidson Financial Services, 4.142%, 3/4/26 | &nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;5497 |
| Harley-Davidson Financial Services, 4.214%, 3/17/26 | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;3094 |
| Harley-Davidson Financial Services, 4.235%, 5/28/26 | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;1088 |
| HCA, 4.071%, 3/2/26 | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;3399 |
| HCA, 4.192%, 3/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823 |
| HCA, 4.237%, 5/12/26 | &nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;3866 |
| Humana, 3.908%, 3/16/26 | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;7986 |
| International Flavors & Fragrances, 4.053%, 3/2/26 | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;2499 |
| International Flavors & Fragrances, 4.105%, 3/10/26 | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6992 |
| ONEOK, 3.86%, 3/9/26 | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;5994 |
| Ovintiv, 4.259%, 3/20/26 | 10700 | &nbsp;&nbsp;&nbsp;10674 |
| Plains All American Pipeline, 3.826%, 3/9/26 | &nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;8491 |
| Quanta Services, 3.822%, 3/2/26 | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;7997 |
| RELX, 3.751%, 3/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 |
| Rogers Communications, 3.994%, 4/2/26 | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;3587 |
| Rogers Communications, 4.016%, 3/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 |
| Rogers Communications, 4.016%, 5/14/26 | &nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;1736 |
| Sempra, 3.851%, 3/9/26 | &nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;8291 |
| Southern California Edison, 4.221%, 3/6/26 | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;3597 |
| Southern California Edison, 4.271%, 3/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 |
| Stanley Black & Decker, 3.861%, 3/12/26 | &nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;9287 |
| Stanley Black & Decker, 3.958%, 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 |
| Targa Resources, 3.801%, 3/2/26 | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;5998 |
| Targa Resources, 3.856%, 3/3/26 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1999 |
|  |  | 168027 |
| **Money Market Funds 0.0%** |  |  |
| T. Rowe Price Government Reserve Fund, 3.73% (7)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| **Total Short-Term Investments<br> (Cost $168,063)** |  | **168029** |
| **SECURITIES LENDING COLLATERAL 0.1%** | **SECURITIES LENDING COLLATERAL 0.1%** | **SECURITIES LENDING COLLATERAL 0.1%** |
| **Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company 0.1%** |  |  |
| **Money Market Funds 0.1%** |  |  |
| T. Rowe Price Treasury Reserve Fund, 3.67% (7)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892 |
| **Total Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**892** |
| **Total Securities Lending Collateral<br> (Cost $892)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**892** |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

(Amount in 000s, except for contracts)

---

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

---

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| U.S. Treasury two year futures contracts, Put, 5/22/26 @ $103.50 (9) | 657 | 137493 | 10 |
| **OTC Options Purchased 0.0%** | **OTC Options Purchased 0.0%** | **OTC Options Purchased 0.0%** | **OTC Options Purchased 0.0%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| Barclays Bank PLC | Credit Default Swap, Protection Bought (Relevant Credit: Markit CDX.NA.IG.S45, 5 Year Index, 12/20/30), Pay 1.00% Quarterly, Receive upon credit default, 4/15/26 @ 0.55% \*(9) | 1 | 50000 | 114 |
| **Total Options Purchased (Cost $114)** | **Total Options Purchased (Cost $114)** | **Total Options Purchased (Cost $114)** |  | **124** |

---

---

| | |
|:---|:---|
| **Total Investments in Securities<br> 100.1% of Net Assets (Cost $986,991)** | **$989769** |
| **Other Assets Less Liabilities (0.1%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(576)** |
| **Net Assets 100.0%** | **$989193** |

---

---

| | |
|:---|:---|
| ‡ | Par/Shares and Notional Amount are denominated in U.S. dollars unless otherwise noted. |
| \* | Exercise Spread |
| (1) | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers. Total value of such securities at period-end amounts to $426,926 and represents 43.2% of net assets. |
| (2) | When-issued security. |
| (3) | Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating. |
| (4) | All or a portion of this security is on loan at February 28, 2026. |
| (5) | At February 28, 2026, all or a portion of this security is pledged as collateral and/or margin deposit to cover future funding obligations. |
| (6) | Commercial paper exempt from registration under Section 4(2) of the Securities Act of 1933 and may be resold in transactions exempt from registration only to dealers in that program or other "accredited investors" -- total value of such securities at period-end amounts to $168,027 and represents 17.0% of net assets. |
| (7) | Seven-day yield |
| (8) | Affiliated Companies |
| (9) | Non-income producing. |

---

---

| | |
|:---|:---|
| 1M TSFR | One month term SOFR (Secured overnight financing rate) |
| 3M TSFR | Three month term SOFR (Secured overnight financing rate) |
| ARM | Adjustable Rate Mortgage (ARM); rate shown is effective rate at period-end. The rates for certain ARMs are not based on a published reference rate and spread but may be determined using a formula based on the rates of the underlying loans. |
| CLO | Collateralized Loan Obligation |
| CMO | Collateralized Mortgage Obligation |
| FRN | Floating Rate Note |
| JPY | Japanese Yen |
| SOFR | Secured overnight financing rate |
| SOFR30A | 30-day Average term SOFR (Secured Overnight Financing Rate) |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

| | |
|:---|:---|
| SOFRINDX | SOFR (Secured overnight financing rate) Index |
| USD | U.S. Dollar |
| VR | Variable Rate; rate shown is effective rate at period-end. The rates for certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and based on current market conditions. |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

(Amounts in 000s, except for contracts)

---

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

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| Barclays Bank PLC | Credit Default Swap, Protection Sold (Relevant Credit: Markit CDX.NA.IG.S45, 5 Year Index, 12/20/30), Receive 1.00% Quarterly, Pay upon credit default, 4/15/26 @ 0.80% \* | 1 | 50000 | (27) |
| Total OTC Options Written (Premiums $(17)) | Total OTC Options Written (Premiums $(17)) | Total OTC Options Written (Premiums $(17)) | Total OTC Options Written (Premiums $(17)) | (27) |
| **Total Options Written (Premiums $(17))** | **Total Options Written (Premiums $(17))** | **Total Options Written (Premiums $(17))** | **Total Options Written (Premiums $(17))** | **(27)** |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

(Amounts in 000s)

**FORWARD CURRENCY EXCHANGE CONTRACTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** | **Receive** |  | **Deliver** |  | **Unrealized<br> Gain/(Loss)** |
| State Street | 5/7/26 | USD | 4443 | JPY | 685500 | $28 |
| **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **Net unrealized gain (loss) on open forward<br> currency exchange contracts** | **$28** |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

---

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

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Expiration<br> Date** | **Notional<br> Amount** | **Value and<br> Unrealized<br> Gain (Loss)** |
| Long, 53 Three Month SOFR Futures contracts | 03/26 | &nbsp;&nbsp;12763 | &nbsp;&nbsp;&nbsp;&nbsp;$(2) |
| Short, 1 U.S. Treasury Long Bonds contracts | 06/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Short, 12 U.S. Treasury Notes ten year contracts | 06/26 | &nbsp;&nbsp;&nbsp;(1360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| Short, 9 Ultra U.S. Treasury Notes ten year contracts | 06/26 | &nbsp;&nbsp;&nbsp;(1045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| Short, 227 U.S. Treasury Notes five year contracts | 06/26 | (24929) | &nbsp;&nbsp;&nbsp;&nbsp;(73) |
| Short, 256 U.S. Treasury Notes two year contracts | 06/26 | (53514) | &nbsp;&nbsp;&nbsp;&nbsp;(60) |
| **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | **Net payments (receipts) of variation margin to date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Variation margin receivable (payable) on open futures contracts** | **Variation margin receivable (payable) on open futures contracts** | **Variation margin receivable (payable) on open futures contracts** | **$(147)** |

---

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

#### AFFILIATED COMPANIES
($000s)

The fund may invest in certain securities that are considered affiliated companies. As defined by the 1940 Act, an affiliated company is one in which the fund owns 5% or more of the outstanding voting securities, or a company that is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the nine months ended February 28, 2026. Net realized gain (loss), investment income, change in net unrealized gain/loss, and purchase and sales cost reflect all activity for the period then ended.

---

| | | | |
|:---|:---|:---|:---|
| **Affiliate** | **Net Realized Gain<br> (Loss)** | **Changes in Net<br> Unrealized<br> Gain/Loss** | **Investment<br> Income** |
| T. Rowe Price Government Reserve Fund | &nbsp;&nbsp;$— | $— | $8++ |
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;—++ |
| Totals | $—# | $— | &nbsp;&nbsp;&nbsp;$8+ |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** |
| **Affiliate** | **Value<br> 5/31/25** | **Purchase<br> Cost** | **Sales<br> Cost** | **Value<br> 2/28/26** |
| T. Rowe Price Government Reserve Fund | $1101 | ¤ | ¤ | &nbsp;&nbsp;&nbsp;&nbsp;$2 |
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | ¤ | ¤ | &nbsp;&nbsp;&nbsp;&nbsp;892 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Total |  |  | $894^ |

---

---

| |
|:---|
| Excludes earnings on securities lending collateral, which are subject to rebates and fees. |
| Capital gain distributions from underlying Price funds represented $0 of the net realized gain (loss). |
| Investment income comprised $8 of dividend income and $0 of interest income. |
| Purchase and sale information not shown for cash management funds. |
| The cost basis of investments in affiliated companies was $894. |

---

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

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

Unaudited

#### NOTES TO PORTFOLIO OF INVESTMENTS

------

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

#### VALUATION

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

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

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

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

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

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

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

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

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

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

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

#### Valuation Inputs
The following table summarizes the fund's financial instruments, based on the inputs used to determine their fair values on February 28, 2026 (for further detail by category, please refer to the accompanying Portfolio of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total Value** |
| **Assets** |  |  |  |  |
| Fixed Income Securities<sup>1</sup> | &nbsp;&nbsp;$— | &nbsp;&nbsp;$820724 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$820724 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;168027 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;168029 |
| Securities Lending Collateral | &nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;904 | &nbsp;&nbsp;&nbsp;&nbsp;988865 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;989769 |
| Forward Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| Total | &nbsp;&nbsp;$904 | &nbsp;&nbsp;$988893 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$989797 |
| **Liabilities** |  |  |  |  |
| Options Written | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27 |
| Futures Contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 |
| Total | &nbsp;&nbsp;$147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$174 |

---

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

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

------

T. ROWE PRICE ULTRA SHORT-TERM BOND ETF

------

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

#### ETF990-054Q3

#### 02/26

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

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

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

- **a. Name of Series:** T. Rowe Price Ultra Short-Term Bond ETF

- **b. EDGAR series identifier (if any):** S000072799

- **c. LEI of Series:** 549300XEFO03D2YJGG72

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

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

- **b. Date as of which information is reported:** 2026-02-28

**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:** $998346232.92

**Total Liabilities:** $9173649.21

**Net Assets:** $989172583.71

**Delayed Delivery Securities:** $23682231.41

**Cash Not Reported:** $117110.57

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -7040.229242 | **1-Year:** -71096.344543 | **5-Year:** -15815.588309 | **10-Year:** -48.546795 | **30-Year:** 0.000000

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

- **3-Month:** -211.202690 | **1-Year:** -119.523577 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229340 | 0.46%                | 0.41%                | 0.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $87203.97                | $291556.17                                 |
| Month 2  | $64841.77                | $311416.18                                 |
| Month 3  | $6318.51                 | $151316.92                                 |

### Schedule of Portfolio Investments

| Name                                  | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                   | 3 MONTH SOFR FUT  DEC25 XCME 20260317                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |        53 | NC      | $-1755.36     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGN 2019-5A AR2 144A                | 522 FUNDING CLO LTD MORGN 2019 5A AR2 144A             | CUSIP: 33829WAL3<br>LEI: 549300HKB0UTKU91DG08 | Long             | ABS-CBDO         | CORP              | KY        |   6425000 | PA      | $6425000.00   | 0.65%             | 2035-04-15      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| N/A                                   | 5690655230 TROWE CDSOPT PUT USD 0.55 20260415          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $114080.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | 5690655319 TROWE CDSOPT PUT USD 0.8 20260415           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $-27030.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ABJA INVESTMENT CO                    | ABJA INVESTMENT CO COMPANY GUAR REGS 01/28 5.45        | CUSIP: 0039939C8<br>LEI: 254900E6OE5YJ9WCCU19 | Long             | DBT              | CORP              | SG        |   1730000 | PA      | $1766813.62   | 0.18%             | 2028-01-24      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV 144A                 | ABN AMRO BANK NV 144A 09/27 VAR                        | CUSIP: 00084DBA7<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $202489.47    | 0.02%             | 2027-09-18      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV 144A                 | ABN AMRO BANK NV SUBORDINATED 144A 04/26 4.8           | CUSIP: 00084DAL4<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   2200000 | PA      | $2201073.97   | 0.22%             | 2026-04-18      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG              | ABU DHABI NATIONAL ENERG SR UNSECURED REGS 06/26 4.375 | CUSIP: 00388W9G8<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |    660000 | PA      | $660949.37    | 0.07%             | 2026-06-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AFFRM 2025-X1 A 144A                  | AFFIRM INC AFFRM 2025 X1 A 144A                        | CUSIP: 00834MAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    143343 | PA      | $143546.39    | 0.01%             | 2030-04-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| AFFRM 2025-X2 A 144A                  | AFFIRM INC AFFRM 2025 X2 A 144A                        | CUSIP: 00835DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1900291 | PA      | $1902721.12   | 0.19%             | 2030-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AFFRM 2025-X2 B 144A                  | AFFIRM INC AFFRM 2025 X2 B 144A                        | CUSIP: 00835DAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1955000 | PA      | $1957926.24   | 0.20%             | 2030-10-15      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| AFRMT 2025-2A A 144A                  | AFFIRM MASTER TRUST AFRMT 2025 2A A 144A               | CUSIP: 00833BAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1695000 | PA      | $1707107.39   | 0.17%             | 2033-07-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| AFRMT 2025-3A A 144A                  | AFFIRM MASTER TRUST AFRMT 2025 3A A 144A               | CUSIP: 00833BAN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3150000 | PA      | $3172942.08   | 0.32%             | 2034-10-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AFRMT 2026-1A A 144A                  | AFFIRM MASTER TRUST AFRMT 2026 1A A 144A               | CUSIP: 00833BAU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2430000 | PA      | $2443510.80   | 0.25%             | 2034-02-15      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| AGCO CORP                             | AGCO CORP COMPANY GUAR 03/27 5.45                      | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |   3974000 | PA      | $4021112.17   | 0.41%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| LUNDIN ENERGY FI 144A                 | AKER BP ASA SR UNSECURED 144A 07/26 2                  | CUSIP: 55037AAA6<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    300000 | PA      | $296979.34    | 0.03%             | 2026-07-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ALINE 2018-1A BR 144A                 | ALINEA CLO LTD ALINE 2018 1A BR 144A                   | CUSIP: 016269AG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    121064 | PA      | $121030.35    | 0.01%             | 2031-07-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| ABCLN 2024-A A2 144A                  | ALLY BANK AUTO CREDIT LINKED N ABCLN 2024 A A2 144A    | CUSIP: 02007GZ48<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    253434 | PA      | $257771.13    | 0.03%             | 2032-05-17      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| ABCLN 2024-A B 144A                   | ALLY BANK AUTO CREDIT LINKED N ABCLN 2024 A B 144A     | CUSIP: 02007GZ55<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    190617 | PA      | $193899.48    | 0.02%             | 2032-05-17      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| ABCLN 2024-B A2 144A                  | ALLY BANK AUTO CREDIT LINKED N ABCLN 2024 B A2 144A    | CUSIP: 02007G4B6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    319737 | PA      | $322813.83    | 0.03%             | 2032-09-15      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ABCLN 2024-B B 144A                   | ALLY BANK AUTO CREDIT LINKED N ABCLN 2024 B B 144A     | CUSIP: 02007G4C4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    302152 | PA      | $305018.73    | 0.03%             | 2032-09-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ABCLN 2025-A A2 144A                  | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 A A2 144A    | CUSIP: 02007G5D1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1178343 | PA      | $1186724.50   | 0.12%             | 2033-06-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ABCLN 2025-A B 144A                   | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 A B 144A     | CUSIP: 02007G5E9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    802194 | PA      | $806874.18    | 0.08%             | 2033-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ABCLN 2025-B A2 144A                  | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 B A2 144A    | CUSIP: 02007G6N8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    642579 | PA      | $646087.25    | 0.07%             | 2033-09-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ABCLN 2025-B B 144A                   | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 B B 144A     | CUSIP: 02007G6P3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1608604 | PA      | $1618210.58   | 0.16%             | 2033-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                    | ALLY FINANCIAL INC SR UNSECURED 05/29 VAR              | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    640000 | PA      | $657264.37    | 0.07%             | 2029-05-15      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                           | AMEREN CORP SR UNSECURED 03/28 1.75                    | CUSIP: 023608AK8<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |   1129000 | PA      | $1080012.49   | 0.11%             | 2028-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                 | AMERICAN HOMES 4 RENT SR UNSECURED 02/28 4.25          | CUSIP: 02666TAA5<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4509102.56   | 0.46%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                | AMERICAN HONDA FINANCE SR UNSECURED 07/27 VAR          | CUSIP: 02665WGE5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2212093.44   | 0.22%             | 2027-07-09      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                | AMERICAN HONDA FINANCE SR UNSECURED 10/26 VAR          | CUSIP: 02665WFN6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2505942.25   | 0.25%             | 2026-10-05      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                   | AMERICAN TOWER CORP SR UNSECURED 01/27 3.125           | CUSIP: 03027XAM2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2132037.37   | 0.22%             | 2027-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                   | AMERICAN TOWER CORP SR UNSECURED 03/27 3.65            | CUSIP: 03027XBV1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1495009.31   | 0.15%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AMCAR 2025-1 A2B 144A                 | AMERICREDIT AUTOMOBILE RECEIVA AMCAR 2025 1 A2B 144A   | CUSIP: 03067FAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2965000 | PA      | $2969022.02   | 0.30%             | 2029-03-19      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| AMCAR 2025-1 A3 144A                  | AMERICREDIT AUTOMOBILE RECEIVA AMCAR 2025 1 A3 144A    | CUSIP: 03067FAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4300000 | PA      | $4325138.66   | 0.44%             | 2030-05-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                         | AMPHENOL CORP SR UNSECURED 11/27 VAR                   | CUSIP: 032095AV3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5500348.81   | 0.56%             | 2027-11-15      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                 | AMRIZE FINANCE US LLC COMPANY GUAR 04/27 4.6           | CUSIP: 43475RAP1<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1561138.30   | 0.16%             | 2027-04-07      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                 | AMRIZE FINANCE US LLC COMPANY GUAR 09/26 3.5           | CUSIP: 43475RAN6<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1492015.20   | 0.15%             | 2026-09-22      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMSR 2021-SFR2 A 144A                 | AMSR TRUST AMSR 2021 SFR2 A 144A                       | CUSIP: 00179VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    314607 | PA      | $310473.66    | 0.03%             | 2038-08-17      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| AMSR 2021-SFR4 A 144A                 | AMSR TRUST AMSR 2021 SFR4 A 144A                       | CUSIP: 66982FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1964077 | PA      | $1931791.08   | 0.20%             | 2038-12-17      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| AMSR 2021-SFR4 B 144A                 | AMSR TRUST AMSR 2021 SFR4 B 144A                       | CUSIP: 66982FAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3938528.80   | 0.40%             | 2038-12-17      | Fixed         | 2.42%                 | No            |                  2 | On Loan: No      |
| AOMT 2019-5 A1 144A                   | ANGEL OAK MORTGAGE TRUST AOMT 2019 5 A1 144A           | CUSIP: 03464KAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14265 | PA      | $14136.95     | 0.00%             | 2049-10-25      | Variable      | 2.59%                 | No            |                  2 | On Loan: No      |
| AOMT 2021-5 A1 144A                   | ANGEL OAK MORTGAGE TRUST AOMT 2021 5 A1 144A           | CUSIP: 03465HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84688 | PA      | $74826.18     | 0.01%             | 2066-07-25      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| AOMT 2022-1 A1 144A                   | ANGEL OAK MORTGAGE TRUST AOMT 2022 1 A1 144A           | CUSIP: 03464BAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     76110 | PA      | $73901.57     | 0.01%             | 2066-12-25      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| AOMT 2023-6 A1 144A                   | ANGEL OAK MORTGAGE TRUST AOMT 2023 6 A1 144A           | CUSIP: 03464UAA4<br>LEI: 254900QAUT3NUZVCSB04 | Long             | ABS-MBS          | CORP              | US        |    586819 | PA      | $590061.36    | 0.06%             | 2067-12-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL 144A           | ANGLO AMERICAN CAPITAL COMPANY GUAR 144A 09/27 4       | CUSIP: 034863AT7<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   4000000 | PA      | $3988043.68   | 0.40%             | 2027-09-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL                         | ARCELORMITTAL SR UNSECURED 03/26 4.55                  | CUSIP: 03938LBA1<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    627000 | PA      | $626942.91    | 0.06%             | 2026-03-11      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ARIFL 2023-B A2 144A                  | ARI FLEET LEASE TRUST ARIFL 2023 B A2 144A             | CUSIP: 04033GAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     49894 | PA      | $50219.07     | 0.01%             | 2032-07-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ARIFL 2024-A A2 144A                  | ARI FLEET LEASE TRUST ARIFL 2024 A A2 144A             | CUSIP: 00218KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    172399 | PA      | $173309.72    | 0.02%             | 2032-11-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ARIFL 2024-B A2 144A                  | ARI FLEET LEASE TRUST ARIFL 2024 B A2 144A             | CUSIP: 04033HAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    203367 | PA      | $204682.42    | 0.02%             | 2033-04-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| ARIFL 2025-A A2 144A                  | ARI FLEET LEASE TRUST ARIFL 2025 A A2 144A             | CUSIP: 04033CAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1254834 | PA      | $1259039.77   | 0.13%             | 2034-01-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING 144A            | ATHENE GLOBAL FUNDING SECURED 144A 01/27 4.95          | CUSIP: 04685A4E8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    750000 | PA      | $755284.21    | 0.08%             | 2027-01-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| XCAP 2023-1A A2 144A                  | AUXILIOR TERM FUNDING LLC XCAP 2023 1A A2 144A         | CUSIP: 05335JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     23460 | PA      | $23537.99     | 0.00%             | 2028-12-15      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| XCAP 2024-1A A2 144A                  | AUXILIOR TERM FUNDING LLC XCAP 2024 1A A2 144A         | CUSIP: 05335FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2676 | PA      | $2677.92      | 0.00%             | 2027-03-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| XCAP 2024-1A A3 144A                  | AUXILIOR TERM FUNDING LLC XCAP 2024 1A A3 144A         | CUSIP: 05335FAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    585000 | PA      | $594319.05    | 0.06%             | 2031-07-15      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| AESOP 2025-3A A 144A                  | AVIS BUDGET RENTAL CAR FUNDING AESOP 2025 3A A 144A    | CUSIP: 05377RKW3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    555000 | PA      | $557376.73    | 0.06%             | 2030-02-20      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| AXIATA SPV2 BHD                       | AXIATA SPV2 BHD SR UNSECURED REGS 03/26 4.357          | CUSIP: 0539919B3<br>LEI: 254900P49KQFQ10AF282 | Long             | DBT              | CORP              | MY        |   1200000 | PA      | $1200109.13   | 0.12%             | 2026-03-24      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| AXIS 2022-1A D 144A                   | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2022 1A D 144A     | CUSIP: 03236VAE1<br>LEI: 549300K5Y88MV8B4M421 | Long             | ABS-O            | CORP              | US        |   3080000 | PA      | $3068385.01   | 0.31%             | 2028-08-21      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| AXIS 2024-1A B 144A                   | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2024 1A B 144A     | CUSIP: 03237CAC6<br>LEI: 254900O8ABFLU3FOSN14 | Long             | ABS-O            | CORP              | US        |    870000 | PA      | $885979.29    | 0.09%             | 2031-01-21      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| AXIS 2024-2A A2 144A                  | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2024 2A A2 144A    | CUSIP: 03238BAB9<br>LEI: 254900VBZK8DVZNJFJ70 | Long             | ABS-O            | CORP              | US        |    302520 | PA      | $306675.17    | 0.03%             | 2031-06-20      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| AXIS 2025-1A A2 144A                  | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2025 1A A2 144A    | CUSIP: 03237FAB1<br>LEI: 254900UXD59DZRJ7U848 | Long             | ABS-O            | CORP              | US        |    901414 | PA      | $910965.51    | 0.09%             | 2031-09-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BACARDI MARTINI 4/2 144A CP           | BACARDI MARTINI B V                                    | CUSIP: 05634FCC1<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5991157.20   | 0.61%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BACARDI MARTINI 4/2 144A CP           | BACARDI MARTINI B V                                    | CUSIP: 05634FCQ0<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2592549.96   | 0.26%             | 2026-03-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BCC 2020-2A AR3 144A                  | BAIN CAPITAL CREDIT CLO, LIMIT BCC 2020 2A AR3 144A    | CUSIP: 05683EBE1<br>LEI: 254900JJEDONFKODOF95 | Long             | ABS-O            | CORP              | KY        |   4180000 | PA      | $4175489.78   | 0.42%             | 2034-07-19      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| BCC 2020-5A ARR 144A                  | BAIN CAPITAL CREDIT CLO, LIMIT BCC 2020 5A ARR 144A    | CUSIP: 05683FBE8<br>LEI: 2549006JVW9O28JU2J23 | Long             | ABS-O            | CORP              | KY        |   7000000 | PA      | $7005740.00   | 0.71%             | 2034-04-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| BCC 2021-4A A1RR 144A                 | BAIN CAPITAL CREDIT CLO, LIMIT BCC 2021 4A A1RR 144A   | CUSIP: 05685ABA5<br>LEI: 254900YJBP8866ZPO033 | Long             | ABS-O            | CORP              | KY        |   5000000 | PA      | $5000000.00   | 0.51%             | 2034-10-20      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| BAMLL 2018-PARK A 144A                | BANC OF AMERICA MERRILL LYNCH BAMLL 2018 PARK A 144A   | CUSIP: 05491YAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    925000 | PA      | $914074.09    | 0.09%             | 2038-08-10      | Variable      | 4.09%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG              | BANCO BILBAO VIZCAYA ARG 03/29 4.15                    | CUSIP: 05946KAT8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   3000000 | PA      | $2999957.58   | 0.30%             | 2029-03-03      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                    | BANCO SANTANDER SA 03/28 VAR                           | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $202939.96    | 0.02%             | 2028-03-14      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                    | BANCO SANTANDER SA 03/28 VAR                           | CUSIP: 05964HBC8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1200000 | PA      | $1207456.21   | 0.12%             | 2028-03-14      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| BANK MANDIRI PT                       | BANK MANDIRI PT SR UNSECURED REGS 04/26 5.5            | CUSIP: 0609879D8<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | DBT              | CORP              | ID        |   1360000 | PA      | $1362464.67   | 0.14%             | 2026-04-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH CO                      | BANK OF AMERICA CORP SUBORDINATED 09/26 6.22           | CUSIP: 59022CAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2097000 | PA      | $2119724.31   | 0.21%             | 2026-09-15      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                      | BANK OF MONTREAL SR UNSECURED 09/27 VAR                | CUSIP: 06368L8M1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   3000000 | PA      | $3007242.48   | 0.30%             | 2027-09-10      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL 144A           | BANQUE FED CRED MUTUEL 144A 01/27 5.088                | CUSIP: 06675FBC0<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    215000 | PA      | $217237.74    | 0.02%             | 2027-01-23      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL 144A           | BANQUE FED CRED MUTUEL 144A 02/28 VAR                  | CUSIP: 06675DCL4<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   3800000 | PA      | $3827772.30   | 0.39%             | 2028-02-16      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL 144A           | BANQUE FED CRED MUTUEL 144A 07/26 5.896                | CUSIP: 06675FBA4<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $402777.56    | 0.04%             | 2026-07-13      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                          | BARCLAYS PLC SR UNSECURED 03/28 VAR                    | CUSIP: 06738ECP8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203146.85    | 0.02%             | 2028-03-12      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                          | BARCLAYS PLC SR UNSECURED 05/30 VAR                    | CUSIP: 06738EDG7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1695000 | PA      | $1694921.27   | 0.17%             | 2030-05-24      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                          | BARCLAYS PLC SR UNSECURED 09/28 VAR                    | CUSIP: 06738ECT0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1010544.79   | 0.10%             | 2028-09-10      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                          | BARCLAYS PLC SR UNSECURED 11/27 VAR                    | CUSIP: 06738EBU8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $1973831.46   | 0.20%             | 2027-11-24      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                          | BARCLAYS PLC SUBORDINATED 05/26 5.2                    | CUSIP: 06738EAP0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1650000 | PA      | $1651772.73   | 0.17%             | 2026-05-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                      | BAT CAPITAL CORP COMPANY GUAR 04/27 4.7                | CUSIP: 05526DBP9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   3402000 | PA      | $3424907.47   | 0.35%             | 2027-04-02      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                      | BAT CAPITAL CORP COMPANY GUAR 08/27 3.557              | CUSIP: 05526DBB0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2089199.05   | 0.21%             | 2027-08-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| BATLN 2015-8A A2R3 144A               | BATTALION CLO LTD BATLN 2015 8A A2R3 144A              | CUSIP: 07132ACL5<br>LEI: 549300WH2OE0BGHQQP83 | Long             | ABS-CBDO         | CORP              | KY        |   2318678 | PA      | $2318207.63   | 0.23%             | 2030-07-18      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| BATLN 2015-9A ARR 144A                | BATTALION CLO LTD BATLN 2015 9A ARR 144A               | CUSIP: 07132EAS4<br>LEI: 549300JMWGEYZEC6GK98 | Long             | ABS-CBDO         | CORP              | KY        |   1503009 | PA      | $1502663.80   | 0.15%             | 2031-07-15      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| BATLN 2016-10A A1R3 144A              | BATTALION CLO LTD BATLN 2016 10A A1R3 144A             | CUSIP: 07132JBL7<br>LEI: 549300RRK5G3IT4Y7N27 | Long             | ABS-CBDO         | CORP              | KY        |   5989065 | PA      | $5991011.03   | 0.61%             | 2035-01-24      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| BATLN 2018-12A ARR 144A               | BATTALION CLO LTD BATLN 2018 12A ARR 144A              | CUSIP: 07133RAW5<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |    330716 | PA      | $330628.07    | 0.03%             | 2031-05-17      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| BATLN 2020-15A A1RR 144A              | BATTALION CLO LTD BATLN 2020 15A A1RR 144A             | CUSIP: 07131AAM6<br>LEI: 549300CJP8HGT746II19 | Long             | ABS-CBDO         | CORP              | KY        |   1796272 | PA      | $1796130.19   | 0.18%             | 2033-01-17      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC              | BAXTER INTERNATIONAL INC SR UNSECURED 02/27 1.915      | CUSIP: 071813CL1<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |   2588000 | PA      | $2537082.83   | 0.26%             | 2027-02-01      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE II LLC 144A          | BAYER US FINANCE II LLC COMPANY GUAR 144A 12/28 4.375  | CUSIP: 07274NAL7<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7526880.38   | 0.76%             | 2028-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE LLC 144A             | BAYER US FINANCE LLC COMPANY GUAR 144A 11/26 6.125     | CUSIP: 07274EAH6<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |    860000 | PA      | $870218.03    | 0.09%             | 2026-11-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BVCLN 2024-CAR1 A 144A                | BAYVIEW OPPORTUNITY MASTER FUN BVCLN 2024 CAR1 A 144A  | CUSIP: 07336QAA0<br>LEI: 254900S53K9VTUR1UX42 | Long             | ABS-O            | CORP              | US        |     87450 | PA      | $87687.60     | 0.01%             | 2031-12-26      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| BINOM 2021-INV1 A1 144A               | BINOM SECURITIZATION TRUST BINOM 2021 INV1 A1 144A     | CUSIP: 05552UAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     43429 | PA      | $40492.75     | 0.00%             | 2056-06-25      | Variable      | 2.03%                 | No            |                  2 | On Loan: No      |
| OWLEF 2024-1A B 144A                  | BLUE OWL ASSET LEASING TRUST OWLEF 2024 1A B 144A      | CUSIP: 095921AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    275000 | PA      | $277995.30    | 0.03%             | 2030-03-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| BLUEM 2015-3A A1R 144A                | BLUEMOUNTAIN CLO LTD BLUEM 2015 3A A1R 144A            | CUSIP: 09628JAL5<br>LEI: 5493009UJ1T6R11V4458 | Long             | ABS-CBDO         | CORP              | KY        |     32183 | PA      | $32180.22     | 0.00%             | 2031-04-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| BLUEM 2016-3A A1R2 144A               | BLUEMOUNTAIN CLO LTD BLUEM 2016 3A A1R2 144A           | CUSIP: 09628VAW4<br>LEI: 549300EYIDIF4X8MHI21 | Long             | ABS-CBDO         | CORP              | KY        |     65732 | PA      | $65725.03     | 0.01%             | 2030-11-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| BLUEM 2018-3A A1R 144A                | BLUEMOUNTAIN CLO LTD BLUEM 2018 3A A1R 144A            | CUSIP: 09630AAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    655365 | PA      | $655557.07    | 0.07%             | 2030-10-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS 144A                      | BNP PARIBAS 144A 09/29 VAR                             | CUSIP: 09659W2R4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $951126.78    | 0.10%             | 2029-09-15      | Variable      | 2.16%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS 144A                      | BNP PARIBAS SUBORDINATED 144A 03/27 4.625              | CUSIP: 05581KAC5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1005125.88   | 0.10%             | 2027-03-13      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS 144A                      | BNP PARIBAS SUBORDINATED 144A 05/26 4.375              | CUSIP: 05565AAR4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $1999634.74   | 0.20%             | 2026-05-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BOEING CO                             | BOEING CO SR UNSECURED 02/27 2.7                       | CUSIP: 097023CM5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989187.50    | 0.10%             | 2027-02-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BOEING CO                             | BOEING CO SR UNSECURED 03/27 2.8                       | CUSIP: 097023BU8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3457770.12   | 0.35%             | 2027-03-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BOEING CO                             | BOEING CO SR UNSECURED 05/26 3.1                       | CUSIP: 097023CH6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998053.82    | 0.10%             | 2026-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC 144A          | BOOZ ALLEN HAMILTON INC COMPANY GUAR 144A 09/28 3.875  | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $984551.20    | 0.10%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BPCE SA 144A                          | BPCE SA 144A 09/28 4.625                               | CUSIP: 05583JAE2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    424000 | PA      | $428910.51    | 0.04%             | 2028-09-12      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BPCE SA 144A                          | BPCE SA 144A 10/27 3.5                                 | CUSIP: 05583JAC6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $992799.09    | 0.10%             | 2027-10-23      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HGVGI 2019-A A 144A                   | BRE GRAND ISLANDER TIMESHARE I HGVGI 2019 A A 144A     | CUSIP: 05588UAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45362 | PA      | $45103.76     | 0.00%             | 2033-09-26      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| BLAST 2026-1 B                        | BRIDGECREST LENDING AUTO SECUR BLAST 2026 1 B          | CUSIP: 107927AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4845000 | PA      | $4862622.72   | 0.49%             | 2031-11-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND 144A          | BRIGHTHSE FIN GLBL FUND SECURED 144A 05/26 1.55        | CUSIP: 10921U2C1<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |    375000 | PA      | $372325.25    | 0.04%             | 2026-05-24      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                | BRIXMOR OPERATING PART SR UNSECURED 03/27 3.9          | CUSIP: 11120VAE3<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |   2525000 | PA      | $2521812.77   | 0.25%             | 2027-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                | BRIXMOR OPERATING PART SR UNSECURED 06/26 4.125        | CUSIP: 11120VAC7<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1098783.63   | 0.11%             | 2026-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                     | BROWN + BROWN INC SR UNSECURED 06/28 4.7               | CUSIP: 115236AJ0<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    275000 | PA      | $277944.12    | 0.03%             | 2028-06-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CORP 4/2 144A CP            | BRUNSWICK CORP DISC                                    | CUSIP: 11704NC52<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $9493273.05   | 0.96%             | 2026-03-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BX 2021-RISE A 144A                   | BX TRUST BX 2021 RISE A 144A                           | CUSIP: 12434EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1208821 | PA      | $1208617.77   | 0.12%             | 2036-11-15      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| BX 2025-VOLT A 144A                   | BX TRUST BX 2025 VOLT A 144A                           | CUSIP: 05619PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3775000 | PA      | $3778539.06   | 0.38%             | 2044-12-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA 144A                     | CAIXABANK SA 144A 07/29 VAR                            | CUSIP: 12803RAK0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   3801000 | PA      | $3846962.45   | 0.39%             | 2029-07-03      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA 144A                     | CAIXABANK SA 144A 09/27 VAR                            | CUSIP: 12803RAB0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    550000 | PA      | $557685.54    | 0.06%             | 2027-09-13      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                | CANADIAN IMPERIAL BANK SR UNSECURED 01/30 VAR          | CUSIP: 13607QWB4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   1390000 | PA      | $1398349.42   | 0.14%             | 2030-01-29      | Variable      | 4.28%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATURAL RESOURC 4/2 144A CP  | CANADIAN NATURAL RESOU                                 | CUSIP: 13638XCC2<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8987476.50   | 0.91%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                | CAPITAL ONE FINANCIAL CO SR UNSECURED 02/27 4.1        | CUSIP: 254709AM0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    201000 | PA      | $201248.19    | 0.02%             | 2027-02-09      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO              | CAPITAL ONE FINANCIAL CO SUBORDINATED 07/26 3.75       | CUSIP: 14040HBK0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   3175000 | PA      | $3167650.86   | 0.32%             | 2026-07-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE NA                        | CAPITAL ONE NA SR UNSECURED 07/26 3.45                 | CUSIP: 25466AAJ0<br>LEI: 207ALC1P1YM0OVDV0K75 | Long             | DBT              | CORP              | US        |    481000 | PA      | $479960.16    | 0.05%             | 2026-07-27      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CARMX 2022-1 D                        | CARMAX AUTO OWNER TRUST CARMX 2022 1 D                 | CUSIP: 14317CAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    635000 | PA      | $634319.15    | 0.06%             | 2028-07-17      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| CMXS 2025-B A2                        | CARMAX SELECT RECEIVABLES TRUS CMXS 2025 B A2          | CUSIP: 14320BAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1650000 | PA      | $1652118.44   | 0.17%             | 2029-03-15      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP 144A                    | CARNIVAL CORP SR SECURED 144A 08/28 4                  | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   5000000 | PA      | $4960742.85   | 0.50%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRVNA 2021-N2 A2                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 N2 A2        | CUSIP: 14686KAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     53706 | PA      | $53186.06     | 0.01%             | 2028-03-10      | Fixed         | 0.97%                 | No            |                  2 | On Loan: No      |
| CRVNA 2021-N3 A2                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 N3 A2        | CUSIP: 14687GAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     58198 | PA      | $57230.79     | 0.01%             | 2028-06-12      | Fixed         | 1.11%                 | No            |                  2 | On Loan: No      |
| CRVNA 2021-N3 B                       | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 N3 B         | CUSIP: 14687GAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    234525 | PA      | $228699.51    | 0.02%             | 2028-06-12      | Fixed         | 0.66%                 | No            |                  2 | On Loan: No      |
| CRVNA 2021-N4 A2                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 N4 A2        | CUSIP: 14687HAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36666 | PA      | $36126.82     | 0.00%             | 2028-09-11      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| CRVNA 2021-N4 B                       | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 N4 B         | CUSIP: 14687HAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3195 | PA      | $3119.50      | 0.00%             | 2028-09-11      | Fixed         | 1.24%                 | No            |                  2 | On Loan: No      |
| CRVNA 2021-P3 A4                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2021 P3 A4        | CUSIP: 14687JAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    730376 | PA      | $726685.21    | 0.07%             | 2027-06-10      | Fixed         | 1.03%                 | No            |                  2 | On Loan: No      |
| CRVNA 2022-N1 A2 144A                 | CARVANA AUTO RECEIVABLES TRUST CRVNA 2022 N1 A2 144A   | CUSIP: 14686GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     97125 | PA      | $96396.95     | 0.01%             | 2028-12-11      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| CRVNA 2022-P1 B                       | CARVANA AUTO RECEIVABLES TRUST CRVNA 2022 P1 B         | CUSIP: 14688DAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1735777.05   | 0.18%             | 2028-02-10      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CRVNA 2022-P2 B                       | CARVANA AUTO RECEIVABLES TRUST CRVNA 2022 P2 B         | CUSIP: 14686JAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $221867.82    | 0.02%             | 2028-04-10      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| CRVNA 2023-N1 C 144A                  | CARVANA AUTO RECEIVABLES TRUST CRVNA 2023 N1 C 144A    | CUSIP: 14688FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1742527 | PA      | $1750289.54   | 0.18%             | 2029-07-10      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| CRVNA 2023-P1 B 144A                  | CARVANA AUTO RECEIVABLES TRUST CRVNA 2023 P1 B 144A    | CUSIP: 14688EAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180000 | PA      | $186182.23    | 0.02%             | 2029-04-10      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-N1 A3 144A                 | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N1 A3 144A   | CUSIP: 14687QAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     66652 | PA      | $66730.74     | 0.01%             | 2028-03-10      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-N1 B 144A                  | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N1 B 144A    | CUSIP: 14687QAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2315000 | PA      | $2335726.20   | 0.24%             | 2030-05-10      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-N2 A3 144A                 | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N2 A3 144A   | CUSIP: 14687VAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80337 | PA      | $80573.23     | 0.01%             | 2028-07-10      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-N2 B 144A                  | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N2 B 144A    | CUSIP: 14687VAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2665000 | PA      | $2693466.73   | 0.27%             | 2030-09-10      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-N2 C 144A                  | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N2 C 144A    | CUSIP: 14687VAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2042876.40   | 0.21%             | 2030-09-10      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-N3 B 144A                  | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 N3 B 144A    | CUSIP: 14687WAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1005643.40   | 0.10%             | 2030-12-10      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-P2 A3                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 P2 A3        | CUSIP: 14688PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    208094 | PA      | $209835.94    | 0.02%             | 2029-07-10      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-P4 A2                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 P4 A2        | CUSIP: 14076LAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64317 | PA      | $64332.70     | 0.01%             | 2028-02-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CRVNA 2024-P4 A3                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 P4 A3        | CUSIP: 14076LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $477600.15    | 0.05%             | 2030-01-10      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| CRVNA 2025-N1 A2 144A                 | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 N1 A2 144A   | CUSIP: 14688XAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    184991 | PA      | $185239.94    | 0.02%             | 2028-05-10      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| CRVNA 2025-N1 A3 144A                 | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 N1 A3 144A   | CUSIP: 14688XAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1008181.90   | 0.10%             | 2029-08-10      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| CRVNA 2025-P2 A2                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 P2 A2        | CUSIP: 14688YAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    502734 | PA      | $503608.71    | 0.05%             | 2028-08-10      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| CRVNA 2025-P2 A3                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 P2 A3        | CUSIP: 14688YAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1180000 | PA      | $1191506.77   | 0.12%             | 2030-08-12      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CRVNA 2025-P4 A2                      | CARVANA AUTO RECEIVABLES TRUST CRVNA 2025 P4 A2        | CUSIP: 14689AAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4090000 | PA      | $4098283.07   | 0.41%             | 2029-03-12      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC              | CELANESE US HOLDINGS LLC COMPANY GUAR 08/26 1.4        | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1427258.20   | 0.14%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                           | CENCORA INC SR UNSECURED 02/29 3.95                    | CUSIP: 03073EBC8<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1150595.85   | 0.12%             | 2029-02-13      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CENCOSUD SA 144A                      | CENCOSUD SA COMPANY GUAR 144A 07/27 4.375              | CUSIP: 15132HAH4<br>LEI: 549300NLTGCFV7482429 | Long             | DBT              | CORP              | CL        |   1720000 | PA      | $1723369.45   | 0.17%             | 2027-07-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                          | CENTENE CORP SR UNSECURED 12/27 4.25                   | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2612000 | PA      | $2596148.22   | 0.26%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP              | CHARTER COMM OPT LLC/CAP SR SECURED 02/28 3.75         | CUSIP: 161175BJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2972877.21   | 0.30%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP              | CHARTER COMM OPT LLC/CAP SR SECURED 03/28 4.2          | CUSIP: 161175BK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1997625.02   | 0.20%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CACLN 2025-1 B 144A                   | CHASE AUTO CREDIT LINKED NOTES CACLN 2025 1 B 144A     | CUSIP: 46591HCS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    837999 | PA      | $845143.16    | 0.09%             | 2033-02-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHPRK 2018-1A A2R 144A                | CHENANGO PARK CLO, LTD. CHPRK 2018 1A A2R 144A         | CUSIP: 16409TAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    964537 | PA      | $964403.46    | 0.10%             | 2030-04-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                   | CHENIERE ENERGY INC SR UNSECURED 10/28 4.625           | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   1326000 | PA      | $1325471.96   | 0.13%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CIFC 2022-3A AR 144A                  | CIFC FUNDING LTD CIFC 2022 3A AR 144A                  | CUSIP: 12571KAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4500000.00   | 0.45%             | 2035-04-21      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                           | CITIBANK NA SR UNSECURED 05/27 VAR                     | CUSIP: 17325FBQ0<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2262602.34   | 0.23%             | 2027-05-29      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                | CNH INDUSTRIAL CAP LLC COMPANY GUAR 03/28 4.75         | CUSIP: 12592BAU8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4053651.16   | 0.41%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                | CNH INDUSTRIAL CAP LLC COMPANY GUAR 07/26 1.45         | CUSIP: 12592BAM6<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |   1108000 | PA      | $1096242.87   | 0.11%             | 2026-07-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                           | CODELCO INC SR UNSECURED REGS 08/27 3.625              | CUSIP: 21987B9R1<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   1760000 | PA      | $1750173.11   | 0.18%             | 2027-08-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| COLORADO INT GAS CO/ISS 144A          | COLORADO INT GAS CO/ISS COMPANY GUAR 144A 08/26 4.15   | CUSIP: 196500AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    636000 | PA      | $635599.76    | 0.06%             | 2026-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| COLT 2021-4 A1 144A                   | COLT FUNDING LLC COLT 2021 4 A1 144A                   | CUSIP: 19688GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     59938 | PA      | $52637.88     | 0.01%             | 2066-10-25      | Variable      | 1.40%                 | No            |                  2 | On Loan: No      |
| COLT 2025-8 A1 144A                   | COLT FUNDING LLC COLT 2025 8 A1 144A                   | CUSIP: 19689DAA7<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |   1114443 | PA      | $1126474.09   | 0.11%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC                    | CONAGRA BRANDS INC SR UNSECURED 11/28 4.85             | CUSIP: 205887CC4<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1472376.02   | 0.15%             | 2028-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CONAGRA FOODS INC 4/2 144A CP         | CONAGRA FOODS INC.                                     | CUSIP: 20600HCB8<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7989556.80   | 0.81%             | 2026-03-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONAGRA FOODS INC 4/2 144A CP         | CONAGRA FOODS INC.                                     | CUSIP: 20600HC28<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2999033.10   | 0.30%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                 | CONTINENTAL RESOURCES COMPANY GUAR 01/28 4.375         | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1702422.36   | 0.17%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES 144A            | CONTINENTAL RESOURCES COMPANY GUAR 144A 11/26 2.268    | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   5356000 | PA      | $5281823.90   | 0.53%             | 2026-11-15      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA              | COOPERATIEVE RABOBANK UA COMPANY GUAR 07/26 3.75       | CUSIP: 21684AAF3<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1850000 | PA      | $1847111.56   | 0.19%             | 2026-07-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC              | COREBRIDGE FINANCIAL INC SR UNSECURED 04/27 3.65       | CUSIP: 21871XAD1<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   2947000 | PA      | $2931717.95   | 0.30%             | 2027-04-05      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| COX COMMUNICATIONS INC 144A           | COX COMMUNICATIONS INC SR UNSECURED 144A 09/26 3.35    | CUSIP: 224044CG0<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    350000 | PA      | $348575.14    | 0.04%             | 2026-09-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA 144A               | CREDIT AGRICOLE SA 144A 01/29 VAR                      | CUSIP: 22535WAP2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   3995000 | PA      | $4078192.64   | 0.41%             | 2029-01-09      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| CROSS 2025-H7 A1 144A                 | CROSS MORTGAGE TRUST CROSS 2025 H7 A1 144A             | CUSIP: 22757JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2754112 | PA      | $2759724.81   | 0.28%             | 2070-09-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| XROAD 2024-A A2 144A                  | CROSSROADS ASSET TRUST XROAD 2024 A A2 144A            | CUSIP: 227927AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2290693 | PA      | $2312987.03   | 0.23%             | 2030-08-20      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP 4/2 144A CP    | CROWN CASTLE                                           | CUSIP: 22823QCK5<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2194885.88   | 0.22%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP 4/2 144A CP    | CROWN CASTLE                                           | CUSIP: 22823QCK5<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997675.40    | 0.10%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                      | CROWN CASTLE INC SR UNSECURED 01/28 5                  | CUSIP: 22822VBA8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1209986.40   | 0.12%             | 2028-01-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP                | CROWN CASTLE INC SR UNSECURED 02/28 3.8                | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    650000 | PA      | $647358.39    | 0.07%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP                | CROWN CASTLE INC SR UNSECURED 03/27 2.9                | CUSIP: 22822VAZ4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    750000 | PA      | $741702.62    | 0.07%             | 2027-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                      | CROWN CASTLE INC SR UNSECURED 03/27 4                  | CUSIP: 22822VAE1<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    773000 | PA      | $772765.22    | 0.08%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP                | CROWN CASTLE INC SR UNSECURED 07/26 1.05               | CUSIP: 22822VAV3<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1250499.00   | 0.13%             | 2026-07-15      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE TOWERS LLC 144A          | CROWN CASTLE TOWERS LLC ASSET BACKED 144A 07/48 4.241  | CUSIP: 22822RBH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2005399.20   | 0.20%             | 2028-07-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| CRNPT 2018-7A AR 144A                 | CROWN POINT CLO 7, LTD CRNPT 2018 7A AR 144A           | CUSIP: 22846MAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     22998 | PA      | $22994.32     | 0.00%             | 2031-10-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| CSAIL 2016-C7 A4                      | CSAIL COMMERCIAL MORTGAGE TRUS CSAIL 2016 C7 A4        | CUSIP: 12637UAV1<br>LEI: 5493006MX7HG5PC85C29 | Long             | ABS-MBS          | CORP              | US        |     45796 | PA      | $45645.19     | 0.00%             | 2049-11-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| CUBESMART LP                          | CUBESMART LP COMPANY GUAR 09/26 3.125                  | CUSIP: 22966RAD8<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              | CORP              | US        |    154000 | PA      | $153104.37    | 0.02%             | 2026-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                       | CVS HEALTH CORP SR UNSECURED 04/27 3.625               | CUSIP: 126650DH0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1993274.92   | 0.20%             | 2027-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                       | CVS HEALTH CORP SR UNSECURED 06/26 2.875               | CUSIP: 126650CU2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1476074.06   | 0.15%             | 2026-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                       | CVS HEALTH CORP SR UNSECURED 08/27 1.3                 | CUSIP: 126650DM9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    400000 | PA      | $385153.10    | 0.04%             | 2027-08-21      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA 144A           | DAIMLER TRUCK FINAN NA COMPANY GUAR 144A 08/27 4.3     | CUSIP: 233853BG4<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1061328.83   | 0.11%             | 2027-08-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA 144A           | DAIMLER TRUCK FINAN NA COMPANY GUAR 144A 09/27 5.125   | CUSIP: 233853AY6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203458.74    | 0.02%             | 2027-09-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S 144A                  | DANSKE BANK A/S 144A 04/28 VAR                         | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |   1000000 | PA      | $1003809.68   | 0.10%             | 2028-04-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| DEFT 2023-2 A3 144A                   | DELL EQUIPMENT FINANCE TRUST DEFT 2023 2 A3 144A       | CUSIP: 24703GAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10402 | PA      | $10413.88     | 0.00%             | 2029-01-22      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| DEFT 2023-3 C 144A                    | DELL EQUIPMENT FINANCE TRUST DEFT 2023 3 C 144A        | CUSIP: 24702EAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $441756.04    | 0.04%             | 2029-04-23      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| DEFT 2024-2 A3 144A                   | DELL EQUIPMENT FINANCE TRUST DEFT 2024 2 A3 144A       | CUSIP: 24704EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $261670.76    | 0.03%             | 2030-08-22      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| DEFT 2024-2 B 144A                    | DELL EQUIPMENT FINANCE TRUST DEFT 2024 2 B 144A        | CUSIP: 24704EAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    105000 | PA      | $105618.56    | 0.01%             | 2030-08-22      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| DEFT 2024-2 C 144A                    | DELL EQUIPMENT FINANCE TRUST DEFT 2024 2 C 144A        | CUSIP: 24704EAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1650000 | PA      | $1665125.06   | 0.17%             | 2030-08-22      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| DEFT 2025-1 A3 144A                   | DELL EQUIPMENT FINANCE TRUST DEFT 2025 1 A3 144A       | CUSIP: 24703UAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    565000 | PA      | $570499.15    | 0.06%             | 2031-02-24      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                   | DELTA AIR LINES INC SR UNSECURED 07/28 4.95            | CUSIP: 247361A24<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    565000 | PA      | $574314.89    | 0.06%             | 2028-07-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                      | DEUTSCHE BANK NY 07/27 VAR                             | CUSIP: 25160PAN7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1011123.43   | 0.10%             | 2027-07-13      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| DEXT 2025-2 A2 144A                   | DEXT ABS DEXT 2025 2 A2 144A                           | CUSIP: 252153AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1265000 | PA      | $1264849.47   | 0.13%             | 2028-04-17      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| DEXT 2025-2 A3 144A                   | DEXT ABS DEXT 2025 2 A3 144A                           | CUSIP: 252153AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $355785.97    | 0.04%             | 2036-04-15      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| DEXT 2025-2 B 144A                    | DEXT ABS DEXT 2025 2 B 144A                            | CUSIP: 252153AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1105000 | PA      | $1109438.79   | 0.11%             | 2036-04-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| DLLAA 2023-1A A3 144A                 | DLLAA LLC DLLAA 2023 1A A3 144A                        | CUSIP: 23292HAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215962 | PA      | $218219.99    | 0.02%             | 2028-02-22      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| PHYSICIANS REALTY LP                  | DOC DR LLC COMPANY GUAR 01/28 3.95                     | CUSIP: 71951QAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998857.05    | 0.10%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                 | DP WORLD CRESCENT LTD SR UNSECURED REGS 09/28 4.848    | CUSIP: 2333889B5<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |   2000000 | PA      | $2018064.06   | 0.20%             | 2028-09-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| DRIVE 2021-3 D 144A                   | DRIVE AUTO RECEIVABLES TRUST DRIVE 2021 3 D 144A       | CUSIP: 262081AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1179110 | PA      | $1169348.24   | 0.12%             | 2029-06-15      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| DRIVE 2024-1 B                        | DRIVE AUTO RECEIVABLES TRUST DRIVE 2024 1 B            | CUSIP: 26208WAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230531 | PA      | $231322.67    | 0.02%             | 2029-01-16      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| DRIVE 2024-2 A3                       | DRIVE AUTO RECEIVABLES TRUST DRIVE 2024 2 A3           | CUSIP: 26207AAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    254668 | PA      | $254896.20    | 0.03%             | 2028-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DRIVE 2024-2 B                        | DRIVE AUTO RECEIVABLES TRUST DRIVE 2024 2 B            | CUSIP: 26207AAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265000 | PA      | $265995.13    | 0.03%             | 2029-07-16      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| DRIVE 2025-1 A3                       | DRIVE AUTO RECEIVABLES TRUST DRIVE 2025 1 A3           | CUSIP: 262102AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    710000 | PA      | $713857.79    | 0.07%             | 2032-09-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| DRIVE 2025-1 B                        | DRIVE AUTO RECEIVABLES TRUST DRIVE 2025 1 B            | CUSIP: 262102AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1009094.10   | 0.10%             | 2032-09-15      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| DRSLF 2016-45A BRR 144A               | DRYDEN SENIOR LOAN FUND DRSLF 2016 45A BRR 144A        | CUSIP: 26244MBA9<br>LEI: 54930046L20VLJKPVV31 | Long             | ABS-CBDO         | CORP              | KY        |    795000 | PA      | $796918.34    | 0.08%             | 2030-10-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| DRSLF 2017-53A AR 144A                | DRYDEN SENIOR LOAN FUND DRSLF 2017 53A AR 144A         | CUSIP: 26243EAP6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1397883 | PA      | $1397613.21   | 0.14%             | 2031-01-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| DRSLF 2019-80A ARR 144A               | DRYDEN SENIOR LOAN FUND DRSLF 2019 80A ARR 144A        | CUSIP: 26245JBA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2510906 | PA      | $2510562.44   | 0.25%             | 2033-01-17      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| EFMT 2023-1 A1 144A                   | ELLINGTON FINANCIAL MORTGAGE T EFMT 2023 1 A1 144A     | CUSIP: 26844QAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    107196 | PA      | $106859.35    | 0.01%             | 2068-02-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| EFMT 2024-INV2 A1 144A                | ELLINGTON FINANCIAL MORTGAGE T EFMT 2024 INV2 A1 144A  | CUSIP: 26844LAA6<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    784127 | PA      | $786465.93    | 0.08%             | 2069-10-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-INV2 A1 144A                | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 INV2 A1 144A  | CUSIP: 281914AA9<br>LEI: 254900ZO1GLQXE3JWX68 | Long             | ABS-MBS          | CORP              | US        |   1359034 | PA      | $1371874.05   | 0.14%             | 2070-05-26      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-INV4 A1F 144A               | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 INV4 A1F 144A | CUSIP: 26846DAD6<br>LEI: 254900KQZEY4W9F3MX66 | Long             | ABS-MBS          | CORP              | US        |   1467570 | PA      | $1469097.27   | 0.15%             | 2070-10-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-NQM5 A1 144A                | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 NQM5 A1 144A  | CUSIP: 28225KAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1513795 | PA      | $1521760.86   | 0.15%             | 2070-11-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-NQM6 A1 144A                | ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 NQM6 A1 144A  | CUSIP: 281916AE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1566815 | PA      | $1575732.36   | 0.16%             | 2070-12-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| EMAAR SUKUK LTD                       | EMAAR SUKUK LTD SR UNSECURED REGS 09/26 3.635          | CUSIP: 2909959C5<br>LEI: 549300NZHOOO6634T541 | Long             | DBT              | CORP              | KY        |   1295000 | PA      | $1290561.94   | 0.13%             | 2026-09-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| EMD FINANCE LLC 144A                  | EMD FINANCE LLC COMPANY GUAR 144A 08/28 4.125          | CUSIP: 26867LAN0<br>LEI: 529900C8KS5G529A0B76 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1461883.62   | 0.15%             | 2028-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| EMIRATES NBD BANK PJSC                | EMIRATES NBD BANK PJSC SR UNSECURED REGS 01/29 4.195   | CUSIP: TC1YU5PA5<br>LEI: 54930029BCN8HF3B1286 | Long             | DBT              | CORP              | AE        |   3270000 | PA      | $3279318.94   | 0.33%             | 2029-01-13      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV 144A             | ENEL FINANCE INTL NV COMPANY GUAR 144A 07/28 2.125     | CUSIP: 29278GAN8<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $957163.91    | 0.10%             | 2028-07-12      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER PARTNERS 4/2 144A CP  | ENERGY TRANSFER PARTNERS                               | CUSIP: 29277FC25<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  12300000 | PA      | $12296086.14  | 1.24%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EFF 2022-3 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2022 3 A2 144A      | CUSIP: 29374FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1309 | PA      | $1309.66      | 0.00%             | 2029-07-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EFF 2023-2 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2023 2 A2 144A      | CUSIP: 29375NAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     83780 | PA      | $84169.53     | 0.01%             | 2030-04-22      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| EFF 2023-3 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2023 3 A2 144A      | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    103731 | PA      | $104938.28    | 0.01%             | 2030-03-20      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| EFF 2024-1 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2024 1 A2 144A      | CUSIP: 29375PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    228968 | PA      | $230648.65    | 0.02%             | 2030-03-20      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| EFF 2024-2 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2024 2 A2 144A      | CUSIP: 29375RAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     73712 | PA      | $73894.70     | 0.01%             | 2026-12-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| EFF 2024-3 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2024 3 A2 144A      | CUSIP: 29375QAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54125 | PA      | $54287.59     | 0.01%             | 2027-04-20      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| EFF 2025-1 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2025 1 A2 144A      | CUSIP: 29390HAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    386895 | PA      | $388404.28    | 0.04%             | 2027-10-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| EFF 2025-2 A2 144A                    | ENTERPRISE FLEET FINANCING LLC EFF 2025 2 A2 144A      | CUSIP: 29375TAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    977018 | PA      | $980814.58    | 0.10%             | 2028-02-22      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| EQT CORP 144A                         | EQT CORP SR UNSECURED 144A 05/26 3.125                 | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   1034000 | PA      | $1031291.05   | 0.10%             | 2026-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL BV               | EQUATE PETROCHEMICAL CO COMPANY GUAR REGS 11/26 4.25   | CUSIP: 29441W9A5<br>LEI: 635400J73BDO4TTGXD45 | Long             | DBT              | CORP              | KW        |    520000 | PA      | $519301.84    | 0.05%             | 2026-11-03      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL 144A         | EQUITABLE AMERICA GLOBAL SECURED 144A 09/27 VAR        | CUSIP: 29446Q2D4<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1170962.35   | 0.12%             | 2027-09-15      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL 144A         | EQUITABLE AMERICA GLOBAL SR SECURED 144A 12/28 4.3     | CUSIP: 29446Q2F9<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    570000 | PA      | $572696.57    | 0.06%             | 2028-12-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ESSEX PORTFOLIO LP                    | ESSEX PORTFOLIO LP COMPANY GUAR 04/26 3.375            | CUSIP: 29717PAQ0<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              | CORP              | US        |    950000 | PA      | $948862.10    | 0.10%             | 2026-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EART 2021-2A E 144A                   | EXETER AUTOMOBILE RECEIVABLES EART 2021 2A E 144A      | CUSIP: 30165XAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7392000 | PA      | $7386923.17   | 0.75%             | 2028-07-17      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| EART 2022-1A D                        | EXETER AUTOMOBILE RECEIVABLES EART 2022 1A D           | CUSIP: 30167JAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25028 | PA      | $24944.28     | 0.00%             | 2028-06-15      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| EART 2024-1A B                        | EXETER AUTOMOBILE RECEIVABLES EART 2024 1A B           | CUSIP: 30167PAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    148170 | PA      | $148504.41    | 0.02%             | 2028-08-15      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| EART 2024-4A B                        | EXETER AUTOMOBILE RECEIVABLES EART 2024 4A B           | CUSIP: 30166UAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1860000 | PA      | $1867362.81   | 0.19%             | 2030-08-15      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| EART 2025-3A A3                       | EXETER AUTOMOBILE RECEIVABLES EART 2025 3A A3          | CUSIP: 30166XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    505000 | PA      | $508431.83    | 0.05%             | 2029-07-16      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| EART 2025-3A B                        | EXETER AUTOMOBILE RECEIVABLES EART 2025 3A B           | CUSIP: 30166XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    530000 | PA      | $537432.30    | 0.05%             | 2030-02-15      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| EART 2025-4A B                        | EXETER AUTOMOBILE RECEIVABLES EART 2025 4A B           | CUSIP: 30167KAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    840000 | PA      | $846667.42    | 0.09%             | 2030-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| EART 2025-5A A3                       | EXETER AUTOMOBILE RECEIVABLES EART 2025 5A A3          | CUSIP: 30166VAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    485000 | PA      | $487108.00    | 0.05%             | 2029-11-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| EART 2025-5A B                        | EXETER AUTOMOBILE RECEIVABLES EART 2025 5A B           | CUSIP: 30166VAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1635000 | PA      | $1646564.68   | 0.17%             | 2030-07-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| EART 2026-1A B                        | EXETER AUTOMOBILE RECEIVABLES EART 2026 1A B           | CUSIP: 30168HAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1455000 | PA      | $1463308.49   | 0.15%             | 2030-10-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| ESART 2025-1 A3                       | EXETER SELECT AUTOMOBILE RECEI ESART 2025 1 A3         | CUSIP: 30185AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2405000 | PA      | $2429292.66   | 0.25%             | 2030-04-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| CAS 2021-R03 1M1 144A                 | FANNIE MAE   CAS CAS 2021 R03 1M1 144A                 | CUSIP: 20754AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       260 | PA      | $260.04       | 0.00%             | 2041-12-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| CAS 2022-R05 2M1 144A                 | FANNIE MAE   CAS CAS 2022 R05 2M1 144A                 | CUSIP: 20754DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     13123 | PA      | $13140.91     | 0.00%             | 2042-04-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| CAS 2023-R05 1M1 144A                 | FANNIE MAE   CAS CAS 2023 R05 1M1 144A                 | CUSIP: 207942AA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     23589 | PA      | $23790.63     | 0.00%             | 2043-06-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| CAS 2024-R02 1M1 144A                 | FANNIE MAE   CAS CAS 2024 R02 1M1 144A                 | CUSIP: 20754GAA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    125215 | PA      | $125214.88    | 0.01%             | 2044-02-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| CAS 2024-R03 2M1 144A                 | FANNIE MAE   CAS CAS 2024 R03 2M1 144A                 | CUSIP: 207941AA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    226932 | PA      | $226931.66    | 0.02%             | 2044-03-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| CAS 2024-R05 2M1 144A                 | FANNIE MAE   CAS CAS 2024 R05 2M1 144A                 | CUSIP: 20754XAB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      3061 | PA      | $3060.80      | 0.00%             | 2044-07-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| CAS 2025-R03 2A1 144A                 | FANNIE MAE   CAS CAS 2025 R03 2A1 144A                 | CUSIP: 20754VAA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    244448 | PA      | $245769.32    | 0.02%             | 2045-03-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| CAS 2025-R04 1A1 144A                 | FANNIE MAE   CAS CAS 2025 R04 1A1 144A                 | CUSIP: 20755TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    876033 | PA      | $876974.60    | 0.09%             | 2045-05-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| CAS 2025-R06 1M1 144A                 | FANNIE MAE   CAS CAS 2025 R06 1M1 144A                 | CUSIP: 20754YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    847170 | PA      | $849124.46    | 0.09%             | 2045-09-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| CAS 2026-R01 2A1 144A                 | FANNIE MAE   CAS CAS 2026 R01 2A1 144A                 | CUSIP: 20755BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5286386 | PA      | $5282732.07   | 0.53%             | 2046-01-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| FNMA 30 YR                            | FED HM LN PC POOL QX4293 FR 01/55 FIXED 6.5            | CUSIP: 31425YXX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    609310 | PA      | $634976.91    | 0.06%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA 30 YR                            | FED HM LN PC POOL RJ4695 FR 08/55 FIXED 6              | CUSIP: 3142GVGD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4666179 | PA      | $4819591.68   | 0.49%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA 30 YR                            | FED HM LN PC POOL SD6767 FR 10/54 FIXED 6              | CUSIP: 3132DUQU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1894617 | PA      | $1959576.76   | 0.20%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV               | FIDELITY NATL INFO SERV SR UNSECURED 05/29 3.75        | CUSIP: 31620MBJ4<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   1339000 | PA      | $1319887.27   | 0.13%             | 2029-05-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV               | FIDELITY NATL INFO SERV SR UNSECURED 07/27 4.7         | CUSIP: 31620MBW5<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1908286.93   | 0.19%             | 2027-07-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| FIRST ABU DHABI BANK PJS              | FIRST ABU DHABI BANK PJS SR UNSECURED REGS 10/27 5.125 | CUSIP: 6339959H0<br>LEI: 2138002Y3WMK6RZS8H90 | Long             | DBT              | CORP              | AE        |    830000 | PA      | $844715.45    | 0.09%             | 2027-10-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                      | FIRSTENERGY CORP SR UNSECURED 07/27 3.9                | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   1104000 | PA      | $1106345.12   | 0.11%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FISERV INC                            | FISERV INC SR UNSECURED 03/27 5.15                     | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2978412.69   | 0.30%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FISERV INC                            | FISERV INC SR UNSECURED 08/28 5.375                    | CUSIP: 337738BG2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3843586.84   | 0.39%             | 2028-08-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA 30 YR                            | FNMA POOL MA5072 FN 07/53 FIXED 5.5                    | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6285022 | PA      | $6413699.36   | 0.65%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA 30 YR                            | FNMA POOL MA5498 FN 10/54 FIXED 6                      | CUSIP: 31418FDC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1074722 | PA      | $1102843.72   | 0.11%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORDR 2021-1 B 144A                   | FORD CREDIT AUTO OWNER TRUST/F FORDR 2021 1 B 144A     | CUSIP: 345340AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $996498.70    | 0.10%             | 2033-10-17      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| FORDR 2021-2 B 144A                   | FORD CREDIT AUTO OWNER TRUST/F FORDR 2021 2 B 144A     | CUSIP: 345285AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98416.37     | 0.01%             | 2034-05-15      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| FORDF 2023-1 B 144A                   | FORD CREDIT FLOORPLAN MASTER O FORDF 2023 1 B 144A     | CUSIP: 34528QHX5<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $902428.11    | 0.09%             | 2028-05-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| FORDF 2023-1 D 144A                   | FORD CREDIT FLOORPLAN MASTER O FORDF 2023 1 D 144A     | CUSIP: 34528QHZ0<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100412.01    | 0.01%             | 2028-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FORDF 2024-1 B 144A                   | FORD CREDIT FLOORPLAN MASTER O FORDF 2024 1 B 144A     | CUSIP: 34528QJC9<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    637000 | PA      | $647171.81    | 0.07%             | 2029-04-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| FORDF 2024-3 A1 144A                  | FORD CREDIT FLOORPLAN MASTER O FORDF 2024 3 A1 144A    | CUSIP: 34528QJK1<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    585000 | PA      | $589586.99    | 0.06%             | 2029-09-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| FORDF 2024-3 B 144A                   | FORD CREDIT FLOORPLAN MASTER O FORDF 2024 3 B 144A     | CUSIP: 34528QJM7<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    395000 | PA      | $397876.79    | 0.04%             | 2029-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FORDF 2025-2 B                        | FORD CREDIT FLOORPLAN MASTER O FORDF 2025 2 B          | CUSIP: 34528QJW5<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    760000 | PA      | $765073.76    | 0.08%             | 2030-09-15      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC              | FORD MOTOR CREDIT CO LLC SR UNSECURED 04/29 4.97       | CUSIP: 345397J20<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    705000 | PA      | $709611.31    | 0.07%             | 2029-04-06      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC              | FORD MOTOR CREDIT CO LLC SR UNSECURED 06/26 6.95       | CUSIP: 345397D26<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    375000 | PA      | $376925.93    | 0.04%             | 2026-06-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC              | FORD MOTOR CREDIT CO LLC SR UNSECURED 08/26 2.7        | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1935867.94   | 0.20%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC              | FORD MOTOR CREDIT CO LLC SR UNSECURED 11/26 5.125      | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    550000 | PA      | $552415.35    | 0.06%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FORTIVE CORPORATION                   | FORTIVE CORPORATION SR UNSECURED 06/26 3.15            | CUSIP: 34959JAG3<br>LEI: 549300MU9YQJYHDQEF63 | Long             | DBT              | CORP              | US        |    450000 | PA      | $448472.77    | 0.05%             | 2026-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| FCBSL 2019-1A A1R 144A                | FORTRESS CREDIT BSL LIMITED FCBSL 2019 1A A1R 144A     | CUSIP: 34956NAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    166642 | PA      | $166588.84    | 0.02%             | 2032-07-23      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| FCBSL 2019-2A A1AR 144A               | FORTRESS CREDIT BSL LIMITED FCBSL 2019 2A A1AR 144A    | CUSIP: 34962DAN6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    699887 | PA      | $699717.87    | 0.07%             | 2032-10-20      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| STACR 2021-HQA3 M2 144A               | FREDDIE MAC   STACR STACR 2021 HQA3 M2 144A            | CUSIP: 35564KJP5<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | USGSE             | US        |   4000000 | PA      | $4025300.80   | 0.41%             | 2041-09-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| STACR 2022-DNA2 M1A 144A              | FREDDIE MAC   STACR STACR 2022 DNA2 M1A 144A           | CUSIP: 35564KRE1<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | USGSE             | US        |     42131 | PA      | $42157.97     | 0.00%             | 2042-02-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| STACR 2022-DNA5 M1A 144A              | FREDDIE MAC   STACR STACR 2022 DNA5 M1A 144A           | CUSIP: 35564KYN3<br>LEI: 5493000IS349P4O9HR58 | Long             | ABS-MBS          | USGSE             | US        |     82755 | PA      | $84034.65     | 0.01%             | 2042-06-25      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| STACR 2023-HQA3 A1 144A               | FREDDIE MAC   STACR STACR 2023 HQA3 A1 144A            | CUSIP: 35564K3F4<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | USGSE             | US        |     98889 | PA      | $99688.05     | 0.01%             | 2043-11-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| STACR 2024-DNA2 A1 144A               | FREDDIE MAC   STACR STACR 2024 DNA2 A1 144A            | CUSIP: 35564NCW1<br>LEI: 529900GRKKKHILZX4347 | Long             | ABS-MBS          | USGSE             | US        |   2264246 | PA      | $2276213.00   | 0.23%             | 2044-05-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| STACR 2024-DNA3 A1 144A               | FREDDIE MAC   STACR STACR 2024 DNA3 A1 144A            | CUSIP: 35564NEY5<br>LEI: 529900P3PHNE8PW64Z68 | Long             | ABS-MBS          | USGSE             | US        |    247000 | PA      | $247634.16    | 0.03%             | 2044-10-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| STACR 2024-HQA1 A1 144A               | FREDDIE MAC   STACR STACR 2024 HQA1 A1 144A            | CUSIP: 35564NBW2<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | USGSE             | US        |    383332 | PA      | $384762.08    | 0.04%             | 2044-03-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| STACR 2025-DNA1 A1 144A               | FREDDIE MAC   STACR STACR 2025 DNA1 A1 144A            | CUSIP: 35564NFY4<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | USGSE             | US        |    241800 | PA      | $241799.90    | 0.02%             | 2045-01-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| STACR 2025-DNA2 A1 144A               | FREDDIE MAC   STACR STACR 2025 DNA2 A1 144A            | CUSIP: 35564NHY2<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | USGSE             | US        |    662500 | PA      | $663850.77    | 0.07%             | 2045-05-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| STACR 2025-DNA3 A1 144A               | FREDDIE MAC   STACR STACR 2025 DNA3 A1 144A            | CUSIP: 35564UAQ0<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-MBS          | USGSE             | US        |    877500 | PA      | $879368.40    | 0.09%             | 2045-09-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| STACR 2025-DNA4 A1 144A               | FREDDIE MAC   STACR STACR 2025 DNA4 A1 144A            | CUSIP: 35564UBQ9<br>LEI: 529900ZVQVVVNGMGDO97 | Long             | ABS-MBS          | USGSE             | US        |   2231250 | PA      | $2233172.71   | 0.23%             | 2045-10-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| STACR 2025-HQA1 M1 144A               | FREDDIE MAC   STACR STACR 2025 HQA1 M1 144A            | CUSIP: 35564NGZ0<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | USGSE             | US        |   1043526 | PA      | $1043847.67   | 0.11%             | 2045-02-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| STACR 2026-DNA1 A1 144A               | FREDDIE MAC   STACR STACR 2026 DNA1 A1 144A            | CUSIP: 35564UCQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2845000 | PA      | $2844016.71   | 0.29%             | 2046-02-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| STACR 2026-DNA1 M1 144A               | FREDDIE MAC   STACR STACR 2026 DNA1 M1 144A            | CUSIP: 35564UCR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1685000 | PA      | $1685058.15   | 0.17%             | 2046-02-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                 | FREEPORT INDONESIA PT SR UNSECURED REGS 04/27 4.763    | CUSIP: 3569989G1<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |   1700000 | PA      | $1709080.41   | 0.17%             | 2027-04-14      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                  | FREEPORT MCMORAN INC COMPANY GUAR 03/28 4.125          | CUSIP: 35671DCE3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1131000 | PA      | $1130139.30   | 0.11%             | 2028-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                  | FREEPORT MCMORAN INC COMPANY GUAR 08/28 4.375          | CUSIP: 35671DCG8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    707000 | PA      | $707911.11    | 0.07%             | 2028-08-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                  | FREEPORT MCMORAN INC COMPANY GUAR 09/27 5              | CUSIP: 35671DCC7<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1544000 | PA      | $1545351.15   | 0.16%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                  | FREEPORT MCMORAN INC COMPANY GUAR 09/29 5.25           | CUSIP: 35671DCD5<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1864000 | PA      | $1892106.45   | 0.19%             | 2029-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FREMF 2016-K59 B 144A                 | FREMF MORTGAGE TRUST FREMF 2016 K59 B 144A             | CUSIP: 30295RAS0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $223407.83    | 0.02%             | 2049-11-25      | Variable      | 3.56%                 | No            |                  2 | On Loan: No      |
| FREMF 2017-K65 B 144A                 | FREMF MORTGAGE TRUST FREMF 2017 K65 B 144A             | CUSIP: 30302XAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1325000 | PA      | $1321087.94   | 0.13%             | 2050-07-25      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| GARTNER INC 144A                      | GARTNER INC COMPANY GUAR 144A 07/28 4.5                | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   4765000 | PA      | $4696269.12   | 0.47%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GATX CORP                             | GATX CORP SR UNSECURED 03/27 5.4                       | CUSIP: 361448BP7<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253567.70    | 0.03%             | 2027-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                | GENERAL MOTORS FINL CO SR UNSECURED 02/27 VAR          | CUSIP: 37045XDQ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    726000 | PA      | $727217.11    | 0.07%             | 2027-02-26      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                | GENERAL MOTORS FINL CO SR UNSECURED 05/27 VAR          | CUSIP: 37045XES1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1257611.33   | 0.13%             | 2027-05-08      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                | GENERAL MOTORS FINL CO SR UNSECURED 07/27 5            | CUSIP: 37045XFH4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2532349.28   | 0.26%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GFORT 2023-1 B 144A                   | GENERAL MOTORS GFORT 2023 1 B 144A                     | CUSIP: 361886CT9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $441886.41    | 0.04%             | 2028-06-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| GFORT 2024-3A B 144A                  | GENERAL MOTORS GFORT 2024 3A B 144A                    | CUSIP: 361886DM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1507934.70   | 0.15%             | 2028-11-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                   | GLOBAL PAYMENTS INC SR UNSECURED 11/28 4.5             | CUSIP: 37940XAV4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4013819.72   | 0.41%             | 2028-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC 4/2 CP            | GLOBAL PMTS INC                                        | CUSIP: 37961DC65<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $9492610.90   | 0.96%             | 2026-03-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GMALT 2025-1 A4                       | GM FINANCIAL AUTOMOBILE LEASIN GMALT 2025 1 A4         | CUSIP: 36271VAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $758582.40    | 0.08%             | 2029-02-20      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GMALT 2025-1 B                        | GM FINANCIAL AUTOMOBILE LEASIN GMALT 2025 1 B          | CUSIP: 36271VAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4785000 | PA      | $4846406.38   | 0.49%             | 2029-02-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| GMALT 2025-2 B                        | GM FINANCIAL AUTOMOBILE LEASIN GMALT 2025 2 B          | CUSIP: 362962AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $709541.00    | 0.07%             | 2029-04-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GOHL CAPITAL LTD                      | GOHL CAPITAL LTD COMPANY GUAR REGS 01/27 4.25          | CUSIP: 3809949A3<br>LEI: 254900TF7OK6KSDZA888 | Long             | DBT              | CORP              | IM        |   2535000 | PA      | $2525912.84   | 0.26%             | 2027-01-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GSMBS 2025-NQM3 A1 144A               | GS MORTGAGE BACKED SECURITIES GSMBS 2025 NQM3 A1 144A  | CUSIP: 36274TAA7<br>LEI: 2549007JKCA9H9HUGZ71 | Long             | ABS-MBS          | CORP              | US        |   1467194 | PA      | $1475501.52   | 0.15%             | 2065-11-25      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| HARLEY DAVIDSON FINL SER 4/2 144A CP  | HARLEY DAVIDSON FND CP                                 | CUSIP: 41282KCH9<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3093865.10   | 0.31%             | 2026-03-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HARLEY DAVIDSON FINL SER 4/2 144A CP  | HARLEY DAVIDSON FND CP                                 | CUSIP: 41282KEU8<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1088505.00   | 0.11%             | 2026-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HARLEY DAVIDSON FINL SER 4/2 144A CP  | HARLEY DAVIDSON FND CP                                 | CUSIP: 41282KC48<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5497040.45   | 0.56%             | 2026-03-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                               | HCA INC COMPANY GUAR 02/27 4.5                         | CUSIP: 404119BU2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4350000 | PA      | $4357202.82   | 0.44%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                               | HCA INC COMPANY GUAR 09/26 5.375                       | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    750000 | PA      | $750718.77    | 0.08%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HCA INC 4/2 144A CP                   | HCA INC DISC COML PAPER                                | CUSIP: 40412DEC9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3866452.98   | 0.39%             | 2026-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HCA INC 4/2 144A CP                   | HCA INC DISC COML PAPER 03/26 ZCP                      | CUSIP: 40412DC23<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3398863.04   | 0.34%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HCA INC 4/2 144A CP                   | HCA INC DISC COML PAPER 03/26 ZCP                      | CUSIP: 40412DCT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    826000 | PA      | $823336.56    | 0.08%             | 2026-03-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HDFC BANK LTD                         | HDFC BANK LTD SR UNSECURED REGS 02/27 5.196            | CUSIP: 4041499G3<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |   1660000 | PA      | $1675495.87   | 0.17%             | 2027-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HDFC BANK LTD                         | HDFC BANK/GANDHINAGAR SR UNSECURED REGS 03/26 5.686    | CUSIP: 4041499C2<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |    785000 | PA      | $785000.00    | 0.08%             | 2026-03-02      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP              | HEALTHCARE RLTY HLDGS LP COMPANY GUAR 08/26 3.5        | CUSIP: 42225UAD6<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              | CORP              | US        |   4295000 | PA      | $4276097.79   | 0.43%             | 2026-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                     | HEALTHPEAK OP LLC COMPANY GUAR 02/27 1.35              | CUSIP: 42250PAC7<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |    585000 | PA      | $571605.14    | 0.06%             | 2027-02-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| HCP INC                               | HEALTHPEAK OP LLC COMPANY GUAR 07/26 3.25              | CUSIP: 40414LAQ2<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1495490.49   | 0.15%             | 2026-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HEXCEL CORP                           | HEXCEL CORP SR UNSECURED 02/27 4.2                     | CUSIP: 428291AN8<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |   2048000 | PA      | $2046494.58   | 0.21%             | 2027-02-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HIGHMARK INC 144A                     | HIGHMARK INC SR UNSECURED 144A 05/26 1.45              | CUSIP: 431116AD4<br>LEI: 549300B6868ZXXEB2Y57 | Long             | DBT              | CORP              | US        |    701000 | PA      | $696640.44    | 0.07%             | 2026-05-10      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| HOMES 2024-AFC1 A1 144A               | HOME OWNER MORTGAGE ENHANCED S HOMES 2024 AFC1 A1 144A | CUSIP: 403945AC2<br>LEI: 2549009KYOPIDSS2IL61 | Long             | ABS-MBS          | CORP              | US        |    865671 | PA      | $869759.08    | 0.09%             | 2059-08-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| HOMES 2025-NQM4 A1 144A               | HOME OWNER MORTGAGE ENHANCED S HOMES 2025 NQM4 A1 144A | CUSIP: 403958AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1598956 | PA      | $1610348.40   | 0.16%             | 2070-08-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| HPA 2022-1 A 144A                     | HOME PARTNERS OF AMERICA TRUST HPA 2022 1 A 144A       | CUSIP: 43730NAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    660483 | PA      | $657622.84    | 0.07%             | 2039-04-17      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| HPEFS 2023-2A C 144A                  | HPEFS EQUIPMENT TRUST HPEFS 2023 2A C 144A             | CUSIP: 44328UAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    107815 | PA      | $108055.64    | 0.01%             | 2031-01-21      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| HPEFS 2024-2A B 144A                  | HPEFS EQUIPMENT TRUST HPEFS 2024 2A B 144A             | CUSIP: 40444MAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    330000 | PA      | $333002.01    | 0.03%             | 2031-10-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                     | HSBC HOLDINGS PLC SR UNSECURED 05/28 VAR               | CUSIP: 404280EF2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $407175.32    | 0.04%             | 2028-05-17      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| HUMANA INC 4/2 144A CP                | HUMANA INC.                                            | CUSIP: 44486JCG2<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7985572.00   | 0.81%             | 2026-03-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HALST 2024-A A3 144A                  | HYUNDAI AUTO LEASE SECURITIZAT HALST 2024 A A3 144A    | CUSIP: 448988AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     93617 | PA      | $93719.72     | 0.01%             | 2027-03-15      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| HALST 2024-A B 144A                   | HYUNDAI AUTO LEASE SECURITIZAT HALST 2024 A B 144A     | CUSIP: 448988AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $165638.34    | 0.02%             | 2028-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| HALST 2025-B B 144A                   | HYUNDAI AUTO LEASE SECURITIZAT HALST 2025 B B 144A     | CUSIP: 44935DAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1022000 | PA      | $1037699.86   | 0.10%             | 2029-08-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| HALST 2026-A B 144A                   | HYUNDAI AUTO LEASE SECURITIZAT HALST 2026 A B 144A     | CUSIP: 448970AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1206571.68   | 0.12%             | 2030-05-15      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 01/29 4.25   | CUSIP: 44891AED5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    775000 | PA      | $779173.79    | 0.08%             | 2029-01-08      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 01/29 6.5    | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1062060.83   | 0.11%             | 2029-01-16      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 03/27 4.85   | CUSIP: 44891ADP9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    605000 | PA      | $610488.70    | 0.06%             | 2027-03-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 06/27 VAR    | CUSIP: 44891ADY0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1509254.01   | 0.15%             | 2027-06-23      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 10/27 2.375  | CUSIP: 44891ABP1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1949888.12   | 0.20%             | 2027-10-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC              | ICON INVESTMENTS SIX DAC SR SECURED 05/27 5.809        | CUSIP: 45115AAA2<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   2258000 | PA      | $2278833.50   | 0.23%             | 2027-05-08      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC 144A          | IMPERIAL BRANDS FIN PLC COMPANY GUAR 144A 07/26 3.5    | CUSIP: 45262BAB9<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    238000 | PA      | $237349.46    | 0.02%             | 2026-07-26      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                          | ING GROEP NV SR UNSECURED 04/27 VAR                    | CUSIP: 456837AV5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1500000 | PA      | $1496790.18   | 0.15%             | 2027-04-01      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                            | INTEL CORP SR UNSECURED 05/26 2.6                      | CUSIP: 458140AU4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    349000 | PA      | $347980.58    | 0.04%             | 2026-05-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| INTL FLAVORS & FRAGRANCE 4/2 144A CP  | INTERNAL FLV+FGR INC                                   | CUSIP: 4595A3CA3<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6991881.40   | 0.71%             | 2026-03-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INTL FLAVORS & FRAGRANCE 4/2 144A CP  | INTERNAL FLV+FGR INC                                   | CUSIP: 4595A3C21<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2499215.00   | 0.25%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                             | IQVIA INC SR SECURED 02/29 6.25                        | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5255431.10   | 0.53%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JACK 2022-1A A2I 144A                 | JACK IN THE BOX FUNDING, LLC JACK 2022 1A A2I 144A     | CUSIP: 466365AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1162880 | PA      | $1134470.84   | 0.11%             | 2052-02-26      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC                 | JACKSON FINANCIAL INC SR UNSECURED 06/27 5.17          | CUSIP: 46817MAR8<br>LEI: 213800WXW2KG1N4CO374 | Long             | DBT              | CORP              | US        |    818000 | PA      | $828292.35    | 0.08%             | 2027-06-08      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL 144A         | JACKSON NATL LIFE GLOBAL SECURED 144A 07/27 5.55       | CUSIP: 46849LVA6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |    545000 | PA      | $554426.91    | 0.06%             | 2027-07-02      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| JAPAN T BILL                          | JAPAN TREASURY DISC BILL BILLS 05/26 0.00000           | CUSIP: YI3460197<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 685500000 | PA      | $4383677.05   | 0.44%             | 2026-05-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMCC 2016-NINE A 144A                | JP MORGAN CHASE COMMERCIAL MOR JPMCC 2016 NINE A 144A  | CUSIP: 46646GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8925000 | PA      | $8853620.53   | 0.90%             | 2038-09-06      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| JPMCC 2016-NINE B 144A                | JP MORGAN CHASE COMMERCIAL MOR JPMCC 2016 NINE B 144A  | CUSIP: 46646GAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    788000 | PA      | $779989.98    | 0.08%             | 2038-09-06      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| JPMMT 2025-DSC2 A1 144A               | JP MORGAN MORTGAGE TRUST JPMMT 2025 DSC2 A1 144A       | CUSIP: 46659VAA6<br>LEI: 529900SXYOW2J5ABY729 | Long             | ABS-MBS          | CORP              | US        |    922653 | PA      | $928930.04    | 0.09%             | 2065-10-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| JPMMT 2025-DSC2 A1B 144A              | JP MORGAN MORTGAGE TRUST JPMMT 2025 DSC2 A1B 144A      | CUSIP: 46659VAC2<br>LEI: 529900SXYOW2J5ABY729 | Long             | ABS-MBS          | CORP              | US        |    466143 | PA      | $468769.51    | 0.05%             | 2065-10-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                  | KEURIG DR PEPPER INC COMPANY GUAR 03/27 5.1            | CUSIP: 49271VAW0<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1263164.69   | 0.13%             | 2027-03-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                  | KEURIG DR PEPPER INC COMPANY GUAR 05/28 4.35           | CUSIP: 49271VAZ3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1508232.02   | 0.15%             | 2028-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                  | KEURIG DR PEPPER INC COMPANY GUAR 11/26 VAR            | CUSIP: 49271VAY6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3500111.44   | 0.35%             | 2026-11-15      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| KKR 18 A1R2 144A                      | KKR FINANCIAL CLO LTD KKR 18 A1R2 144A                 | CUSIP: 48251JAS2<br>LEI: 54930088PYF0FHKY5C94 | Long             | ABS-CBDO         | CORP              | KY        |   2361375 | PA      | $2365016.45   | 0.24%             | 2035-10-18      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| KKR 40A AR 144A                       | KKR FINANCIAL CLO LTD KKR 40A AR 144A                  | CUSIP: 48254UAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   3735000 | PA      | $3741196.37   | 0.38%             | 2034-10-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| KKR 49A X 144A                        | KKR FINANCIAL CLO LTD KKR 49A X 144A                   | CUSIP: 481939AP1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    714583 | PA      | $715082.13    | 0.07%             | 2037-10-20      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| KOREA TOBACCO & GINSENG               | KOREA TOBACCO + GINSENG SR UNSECURED REGS 05/28 5      | CUSIP: TC85DCRS4<br>LEI: 988400ZJV6ISYBLQX875 | Long             | DBT              | CORP              | KR        |   2380000 | PA      | $2429033.26   | 0.25%             | 2028-05-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KT CORP 144A                          | KT CORP SR UNSECURED 144A 01/29 4.375                  | CUSIP: 48268KAJ0<br>LEI: 9884005ACF8449EANY26 | Long             | DBT              | CORP              | KR        |   2460000 | PA      | $2487577.49   | 0.25%             | 2029-01-03      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KCOT 2023-2A A3 144A                  | KUBOTA CREDIT OWNER TRUST KCOT 2023 2A A3 144A         | CUSIP: 500945AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    336846 | PA      | $338998.89    | 0.03%             | 2028-01-18      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| KCOT 2024-2A A2 144A                  | KUBOTA CREDIT OWNER TRUST KCOT 2024 2A A2 144A         | CUSIP: 50117DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21784 | PA      | $21826.29     | 0.00%             | 2027-04-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| KCOT 2024-2A A3 144A                  | KUBOTA CREDIT OWNER TRUST KCOT 2024 2A A3 144A         | CUSIP: 50117DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210000 | PA      | $212909.97    | 0.02%             | 2028-11-15      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| KCOT 2025-1A A2 144A                  | KUBOTA CREDIT OWNER TRUST KCOT 2025 1A A2 144A         | CUSIP: 50117FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1342447 | PA      | $1347627.89   | 0.14%             | 2027-12-15      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| LCM 39A A1R2 144A                     | LCM LTD PARTNERSHIP LCM 39A A1R2 144A                  | CUSIP: 50204NBA5<br>LEI: 549300EGR9FOWDWS1239 | Long             | ABS-CBDO         | CORP              | JE        |   2140000 | PA      | $2140000.00   | 0.22%             | 2034-10-15      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                            | LEIDOS INC COMPANY GUAR 03/29 4.1                      | CUSIP: 52532XAM7<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |    980000 | PA      | $982209.18    | 0.10%             | 2029-03-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| LG ELECTRONICS INC 144A               | LG ELECTRONICS INC SR UNSECURED 144A 04/27 5.625       | CUSIP: 50186QAC7<br>LEI: 988400RMQFTGZIOG0609 | Long             | DBT              | CORP              | KR        |   1760000 | PA      | $1789969.97   | 0.18%             | 2027-04-24      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LGENERGYSOLUTION                      | LGENERGYSOLUTION SR UNSECURED REGS 07/27 5.375         | CUSIP: 5019859F4<br>LEI: 988400QX6P286XA6ZS85 | Long             | DBT              | CORP              | KR        |   1700000 | PA      | $1726832.09   | 0.17%             | 2027-07-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC              | LLOYDS BANKING GROUP PLC SUBORDINATED 03/26 4.65       | CUSIP: 53944YAB9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   3350000 | PA      | $3350987.85   | 0.34%             | 2026-03-24      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                      | LPL HOLDINGS INC COMPANY GUAR 04/28 4.9                | CUSIP: 50212YAN4<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    780000 | PA      | $788892.03    | 0.08%             | 2028-04-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                      | LPL HOLDINGS INC COMPANY GUAR 05/27 5.7                | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   3680000 | PA      | $3737257.60   | 0.38%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC 144A                 | LPL HOLDINGS INC COMPANY GUAR 144A 11/27 4.625         | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    900000 | PA      | $900153.96    | 0.09%             | 2027-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MTLRF 2023-1A A3 144A                 | M+T EQUIPMENT NOTES MTLRF 2023 1A A3 144A              | CUSIP: 551925AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225566 | PA      | $226732.85    | 0.02%             | 2030-07-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| MTLRF 2023-1A A4 144A                 | M+T EQUIPMENT NOTES MTLRF 2023 1A A4 144A              | CUSIP: 551925AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1593000 | PA      | $1613234.29   | 0.16%             | 2030-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MTLRF 2025-1A A2 144A                 | M+T EQUIPMENT NOTES MTLRF 2025 1A A2 144A              | CUSIP: 55340QAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1020549 | PA      | $1025184.46   | 0.10%             | 2027-12-16      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ATRM 13A AR2 144A                     | MADISON PARK FUNDING LTD ATRM 13A AR2 144A             | CUSIP: 55822RAB6<br>LEI: 549300YWZ8HFDYP0MR16 | Long             | ABS-CBDO         | CORP              | KY        |   1634754 | PA      | $1636715.70   | 0.17%             | 2030-11-21      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| MDPK 2021-50A AR 144A                 | MADISON PARK FUNDING LTD MDPK 2021 50A AR 144A         | CUSIP: 55821FAJ6<br>LEI: 549300XQII222AK58E79 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4994605.00   | 0.50%             | 2034-04-19      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| MDPK 2021-52A AR 144A                 | MADISON PARK FUNDING LTD MDPK 2021 52A AR 144A         | CUSIP: 55822BAN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2999145.00   | 0.30%             | 2035-01-22      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO              | MANUF + TRADERS TRUST CO SR UNSECURED 07/28 VAR        | CUSIP: 564760CC8<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    780000 | PA      | $787164.31    | 0.08%             | 2028-07-06      | Variable      | 4.76%                 | No            |                  2 | On Loan: No      |
| MP15 2019-1A A1R2 144A                | MARBLE POINT CLO LTD. MP15 2019 1A A1R2 144A           | CUSIP: 56606YAW5<br>LEI: 549300CO8XB55W8SS394 | Long             | ABS-CBDO         | CORP              | KY        |    514266 | PA      | $514188.93    | 0.05%             | 2032-07-23      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC              | MARSH + MCLENNAN COS INC SR UNSECURED 11/27 VAR        | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   4832000 | PA      | $4846632.84   | 0.49%             | 2027-11-08      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                | MARVELL TECHNOLOGY INC COMPANY GUAR 04/26 1.65         | CUSIP: 573874AC8<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2492881.43   | 0.25%             | 2026-04-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP 144A              | MEDLINE BORROWER LP SR SECURED 144A 04/29 3.875        | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4425770.25   | 0.45%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP 144A              | MEDLINE BORROWER/MEDL CO SR SECURED 144A 04/29 6.25    | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3037000 | PA      | $3134195.54   | 0.32%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL BV               | MEGLOBAL BV COMPANY GUAR REGS 04/28 2.625              | CUSIP: 29441W9D9<br>LEI: 549300WBVLU2FILR7W19 | Long             | DBT              | CORP              | NL        |   2259000 | PA      | $2174890.09   | 0.22%             | 2028-04-28      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| MFRA 2020-NQM1 A1 144A                | MFRA TRUST MFRA 2020 NQM1 A1 144A                      | CUSIP: 552754AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225630 | PA      | $220599.86    | 0.02%             | 2065-03-25      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| MFRA 2020-NQM2 A3 144A                | MFRA TRUST MFRA 2020 NQM2 A3 144A                      | CUSIP: 552751AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     48733 | PA      | $47979.78     | 0.00%             | 2065-04-25      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| MFRA 2020-NQM3 A1 144A                | MFRA TRUST MFRA 2020 NQM3 A1 144A                      | CUSIP: 552757AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    192654 | PA      | $185058.04    | 0.02%             | 2065-01-26      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| MFRA 2020-NQM3 A2 144A                | MFRA TRUST MFRA 2020 NQM3 A2 144A                      | CUSIP: 552757AB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     63563 | PA      | $61165.76     | 0.01%             | 2065-01-26      | Variable      | 1.32%                 | No            |                  2 | On Loan: No      |
| MFRA 2023-NQM3 A1 144A                | MFRA TRUST MFRA 2023 NQM3 A1 144A                      | CUSIP: 55286MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    851313 | PA      | $855395.80    | 0.09%             | 2068-07-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| MFRA 2023-NQM4 A1 144A                | MFRA TRUST MFRA 2023 NQM4 A1 144A                      | CUSIP: 55286LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    958681 | PA      | $967691.86    | 0.10%             | 2068-12-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                | MORGAN STANLEY BANK NA SR UNSECURED 07/28 VAR          | CUSIP: 61690U8D5<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1507228.86   | 0.15%             | 2028-07-14      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| MSRM 2025-DSC2 A1 144A                | MORGAN STANLEY RESIDENTIAL MOR MSRM 2025 DSC2 A1 144A  | CUSIP: 61778XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    214528 | PA      | $217044.98    | 0.02%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                        | MORGAN STANLEY SR UNSECURED 10/29 VAR                  | CUSIP: 61748UAK8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3004304.82   | 0.30%             | 2029-10-18      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| MPLX LP                               | MPLX LP SR UNSECURED 03/27 4.125                       | CUSIP: 55336VAK6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001043.52   | 0.10%             | 2027-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MSCI INC 144A                         | MSCI INC COMPANY GUAR 144A 11/29 4                     | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2453897.48   | 0.25%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MVWOT 2020-1A A 144A                  | MVW 2020 1 LLC MVWOT 2020 1A A 144A                    | CUSIP: 55400EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35429 | PA      | $33846.76     | 0.00%             | 2037-10-20      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| MVWOT 2021-1WA A 144A                 | MVW OWNER TRUST MVWOT 2021 1WA A 144A                  | CUSIP: 55389TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17203 | PA      | $16479.28     | 0.00%             | 2041-01-22      | Fixed         | 1.14%                 | No            |                  2 | On Loan: No      |
| MVWOT 2021-2A A 144A                  | MVW OWNER TRUST MVWOT 2021 2A A 144A                   | CUSIP: 55400KAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108679 | PA      | $103180.57    | 0.01%             | 2039-05-20      | Fixed         | 1.43%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                  | NATIONAL FUEL GAS CO SR UNSECURED 09/27 3.95           | CUSIP: 636180BN0<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997969.41    | 0.10%             | 2027-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                  | NATIONAL FUEL GAS CO SR UNSECURED 10/26 5.5            | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   2708000 | PA      | $2728988.46   | 0.28%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY 144A          | NATIONWIDE BLDG SOCIETY 144A 10/27 VAR                 | CUSIP: 63861VAJ6<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   1460000 | PA      | $1483087.74   | 0.15%             | 2027-10-18      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY 144A          | NATIONWIDE BLDG SOCIETY SUBORDINATED 144A 09/26 4      | CUSIP: 63859WAE9<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   1300000 | PA      | $1296738.60   | 0.13%             | 2026-09-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NAVSL 2019-A A2A 144A                 | NAVIENT STUDENT LOAN TRUST NAVSL 2019 A A2A 144A       | CUSIP: 63941BAB1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     10218 | PA      | $10192.11     | 0.00%             | 2043-01-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| NAVSL 2019-D A2B 144A                 | NAVIENT STUDENT LOAN TRUST NAVSL 2019 D A2B 144A       | CUSIP: 63941CAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155494 | PA      | $155545.65    | 0.02%             | 2059-12-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| NAVSL 2020-FA A 144A                  | NAVIENT STUDENT LOAN TRUST NAVSL 2020 FA A 144A        | CUSIP: 63941XAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30841 | PA      | $29378.65     | 0.00%             | 2069-07-15      | Fixed         | 1.22%                 | No            |                  2 | On Loan: No      |
| NAVSL 2020-GA A 144A                  | NAVIENT STUDENT LOAN TRUST NAVSL 2020 GA A 144A        | CUSIP: 63941UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36780 | PA      | $34722.76     | 0.00%             | 2069-09-16      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| NAVSL 2020-HA A 144A                  | NAVIENT STUDENT LOAN TRUST NAVSL 2020 HA A 144A        | CUSIP: 63935BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42189 | PA      | $40134.47     | 0.00%             | 2069-01-15      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| NAVSL 2021-CA A 144A                  | NAVIENT STUDENT LOAN TRUST NAVSL 2021 CA A 144A        | CUSIP: 63942JAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37142 | PA      | $34284.70     | 0.00%             | 2069-10-15      | Fixed         | 1.06%                 | No            |                  2 | On Loan: No      |
| NAVSL 2021-GA A 144A                  | NAVIENT STUDENT LOAN TRUST NAVSL 2021 GA A 144A        | CUSIP: 63942KAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50093 | PA      | $45870.36     | 0.00%             | 2070-04-15      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| NAVMT 2024-1 A 144A                   | NAVISTAR FINANCIAL DEALER NOTE NAVMT 2024 1 A 144A     | CUSIP: 63938PBW8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    105000 | PA      | $105251.56    | 0.01%             | 2029-04-25      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| NAVMT 2024-1 B 144A                   | NAVISTAR FINANCIAL DEALER NOTE NAVMT 2024 1 B 144A     | CUSIP: 63938PBX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $200430.92    | 0.02%             | 2029-04-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| NAVMT 2025-1 A 144A                   | NAVISTAR FINANCIAL DEALER NOTE NAVMT 2025 1 A 144A     | CUSIP: 63938PBZ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1755000 | PA      | $1762961.91   | 0.18%             | 2030-09-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| NSLT 2021-DA AFL 144A                 | NELNET STUDENT LOAN TRUST NSLT 2021 DA AFL 144A        | CUSIP: 64034YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31316 | PA      | $31197.87     | 0.00%             | 2062-04-20      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| NEUB 2022-50A AR2 144A                | NEUBERGER BERMAN CLO LTD NEUB 2022 50A AR2 144A        | CUSIP: 64134VAY2<br>LEI: 549300UMYON6L2REF246 | Long             | ABS-CBDO         | CORP              | JE        |   1615000 | PA      | $1615000.00   | 0.16%             | 2036-07-23      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| NRZT 2025-NQM6 A1 144A                | NEW RESIDENTIAL MORTGAGE LOAN NRZT 2025 NQM6 A1 144A   | CUSIP: 64832KAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3268537 | PA      | $3291935.36   | 0.33%             | 2065-10-25      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| WOODS 2018-14BA AR 144A               | NORTHWOODS CAPITAL LTD WOODS 2018 14BA AR 144A         | CUSIP: 66860CAL7<br>LEI: 549300QQDSTCZ860F679 | Long             | ABS-CBDO         | CORP              | KY        |   2051477 | PA      | $2056022.81   | 0.21%             | 2031-11-13      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP 144A                 | NTT FINANCE CORP SR UNSECURED 144A 07/28 VAR           | CUSIP: 62954WAR6<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |   1165000 | PA      | $1175691.10   | 0.12%             | 2028-07-16      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                | NXP BV/NXP FDG/NXP USA COMPANY GUAR 05/27 3.15         | CUSIP: 62954HAX6<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    375000 | PA      | $371623.50    | 0.04%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                | NXP BV/NXP FDG/NXP USA COMPANY GUAR 06/26 3.875        | CUSIP: 62954HAZ1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2000000 | PA      | $1999265.06   | 0.20%             | 2026-06-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                | NXP BV/NXP FDG/NXP USA COMPANY GUAR 08/28 4.3          | CUSIP: 62954HBF4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    805000 | PA      | $810039.91    | 0.08%             | 2028-08-19      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR              | OCCIDENTAL PETROLEUM COR SR UNSECURED 08/26 3.2        | CUSIP: 674599CR4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139093.77    | 0.01%             | 2026-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| OCT21 2014-1A AAR4 144A               | OCTAGON INVESTMENT PARTNERS XX OCT21 2014 1A AAR4 144A | CUSIP: 67590QBW6<br>LEI: 549300XIS9D4AHDX5A35 | Long             | ABS-O            | CORP              | KY        |    102173 | PA      | $102127.30    | 0.01%             | 2031-02-14      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| OCTL 2023-1A B 144A                   | OCTANE RECEIVABLES TRUST OCTL 2023 1A B 144A           | CUSIP: 67571BAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    134425 | PA      | $134840.30    | 0.01%             | 2029-07-20      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| OCTL 2023-3A A2 144A                  | OCTANE RECEIVABLES TRUST OCTL 2023 3A A2 144A          | CUSIP: 67571CAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     89208 | PA      | $89576.50     | 0.01%             | 2029-03-20      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| OCTL 2023-3A B 144A                   | OCTANE RECEIVABLES TRUST OCTL 2023 3A B 144A           | CUSIP: 67571CAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265000 | PA      | $267675.71    | 0.03%             | 2029-07-20      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| OCTL 2023-3A C 144A                   | OCTANE RECEIVABLES TRUST OCTL 2023 3A C 144A           | CUSIP: 67571CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    755000 | PA      | $770449.57    | 0.08%             | 2029-08-20      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| OCTL 2024-3A A2 144A                  | OCTANE RECEIVABLES TRUST OCTL 2024 3A A2 144A          | CUSIP: 67571GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    324429 | PA      | $325771.42    | 0.03%             | 2030-05-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| OCTL 2024-RVM1 A 144A                 | OCTANE RECEIVABLES TRUST OCTL 2024 RVM1 A 144A         | CUSIP: 67579FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2419859 | PA      | $2465446.68   | 0.25%             | 2046-01-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| OCTL 2025-RVM1 A 144A                 | OCTANE RECEIVABLES TRUST OCTL 2025 RVM1 A 144A         | CUSIP: 67571HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1962612 | PA      | $1971717.33   | 0.20%             | 2046-12-20      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| ONEOK INC 4/2 144A CP                 | ONEOK INC                                              | CUSIP: 68269FC98<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5993643.00   | 0.61%             | 2026-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                             | ONEOK INC COMPANY GUAR 07/26 4.85                      | CUSIP: 682680CL5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    342000 | PA      | $342246.74    | 0.03%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                             | ONEOK INC COMPANY GUAR 11/26 5.55                      | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1221000 | PA      | $1231761.63   | 0.12%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ONEOK INC 144A                        | ONEOK INC COMPANY GUAR 144A 01/28 5.625                | CUSIP: 682680CM3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1383000 | PA      | $1412673.43   | 0.14%             | 2028-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| OBX 2019-EXP3 2A2 144A                | ONSLOW BAY FINANCIAL LLC OBX 2019 EXP3 2A2 144A        | CUSIP: 67113ABC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    202205 | PA      | $202309.41    | 0.02%             | 2059-10-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| OBX 2022-NQM1 A1 144A                 | ONSLOW BAY FINANCIAL LLC OBX 2022 NQM1 A1 144A         | CUSIP: 67114VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    122514 | PA      | $113097.56    | 0.01%             | 2061-11-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| OBX 2023-NQM3 A1 144A                 | ONSLOW BAY FINANCIAL LLC OBX 2023 NQM3 A1 144A         | CUSIP: 67117PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    689339 | PA      | $688298.84    | 0.07%             | 2063-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM13 A1 144A                | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM13 A1 144A        | CUSIP: 67121UAA4<br>LEI: 254900FPAGVH6E25VL74 | Long             | ABS-MBS          | CORP              | US        |   1210183 | PA      | $1223356.41   | 0.12%             | 2065-05-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM14 A1B 144A               | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM14 A1B 144A       | CUSIP: 673924AB2<br>LEI: 254900T4WKE0IYMYAI09 | Long             | ABS-MBS          | CORP              | US        |    260366 | PA      | $261834.06    | 0.03%             | 2065-07-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM14 A1F 144A               | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM14 A1F 144A       | CUSIP: 673924AP1<br>LEI: 254900T4WKE0IYMYAI09 | Long             | ABS-MBS          | CORP              | US        |   1427816 | PA      | $1429144.23   | 0.14%             | 2065-07-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM15 A1 144A                | ONSLOW BAY FINANCIAL LLC OBX 2025 NQM15 A1 144A        | CUSIP: 67122CAC9<br>LEI: 254900Y3YIZHUWMEGC78 | Long             | ABS-MBS          | CORP              | US        |   1627437 | PA      | $1639870.59   | 0.17%             | 2065-07-27      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| OTP BANK NYRT                         | OTP BANK NYRT REGS 05/27 VAR                           | CUSIP: 6899949C7<br>LEI: 529900W3MOO00A18X956 | Long             | DBT              | CORP              | HU        |   1750000 | PA      | $1765434.44   | 0.18%             | 2027-05-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC 4/2 CP                    | OVINTIV INC DISC                                       | CUSIP: 69047KCL7<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8978091.30   | 0.91%             | 2026-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC 4/2 CP                    | OVINTIV INC DISC                                       | CUSIP: 69047KCL7<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997565.70    | 0.10%             | 2026-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC 4/2 CP                    | OVINTIV INC DISC                                       | CUSIP: 69047KCL7<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    700000 | PA      | $698295.99    | 0.07%             | 2026-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OZLM 2016-15A A1R3 144A               | OZLM LTD OZLM 2016 15A A1R3 144A                       | CUSIP: 67111DBG0<br>LEI: 5493008RJIODIVVGSK16 | Long             | ABS-CBDO         | CORP              | KY        |   1939032 | PA      | $1941758.22   | 0.20%             | 2033-04-20      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| OZLM 2017-19A A1R3 144A               | OZLM LTD OZLM 2017 19A A1R3 144A                       | CUSIP: 67112CBN6<br>LEI: 5493009C40QUU66J8E83 | Long             | ABS-CBDO         | CORP              | KY        |   3265000 | PA      | $3265000.00   | 0.33%             | 2035-01-15      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| OZLM 2018-20A A2 144A                 | OZLM LTD OZLM 2018 20A A2 144A                         | CUSIP: 67112MAC9<br>LEI: 549300ROA1URR67W0G46 | Long             | ABS-CBDO         | CORP              | KY        |    481295 | PA      | $481226.26    | 0.05%             | 2031-04-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                | PACIFIC GAS + ELECTRIC 1ST MORTGAGE 03/27 3.3          | CUSIP: 694308HS9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    567000 | PA      | $562686.42    | 0.06%             | 2027-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                | PACIFIC GAS + ELECTRIC 1ST MORTGAGE 06/27 5.45         | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   2798000 | PA      | $2842839.57   | 0.29%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                | PACIFIC GAS + ELECTRIC 1ST MORTGAGE 12/27 3.3          | CUSIP: 694308HW0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   2003000 | PA      | $1978192.82   | 0.20%             | 2027-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PEAC 2025-1A A2 144A                  | PEAC SOLUTIONS RECEIVABLES LLC PEAC 2025 1A A2 144A    | CUSIP: 69392HAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1279023 | PA      | $1286588.71   | 0.13%             | 2028-10-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL 144A         | PENSKE TRUCK LEASING/PTL SR UNSECURED 144A 01/27 5.35  | CUSIP: 709599BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $60599.23     | 0.01%             | 2027-01-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL 144A         | PENSKE TRUCK LEASING/PTL SR UNSECURED 144A 06/26 1.7   | CUSIP: 709599BM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $565697.94    | 0.06%             | 2026-06-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL 144A         | PENSKE TRUCK LEASING/PTL SR UNSECURED 144A 11/26 3.4   | CUSIP: 709599AW4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3062000 | PA      | $3047747.86   | 0.31%             | 2026-11-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                | PHILIP MORRIS INTL INC SR UNSECURED 10/28 VAR          | CUSIP: 718172EB1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2000762.84   | 0.20%             | 2028-10-27      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE 4/2 144A CP  | PLAINS ALL AMER PIPELINE LP                            | CUSIP: 72650XC98<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8491046.95   | 0.86%             | 2026-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                           | PNC BANK NA SR UNSECURED 07/28 VAR                     | CUSIP: 69353RGA0<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1501915.92   | 0.15%             | 2028-07-21      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| POST 2021-1A AR 144A                  | POST CLO LTD POST 2021 1A AR 144A                      | CUSIP: 73742FAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    980000 | PA      | $979934.34    | 0.10%             | 2034-10-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| PREF 2024-1A A2 144A                  | POST ROAD EQUIPMENT FINANCE PREF 2024 1A A2 144A       | CUSIP: 737473AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20101 | PA      | $20157.97     | 0.00%             | 2029-11-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| PREF 2025-1A A2 144A                  | POST ROAD EQUIPMENT FINANCE PREF 2025 1A A2 144A       | CUSIP: 73747LAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1070528 | PA      | $1079977.42   | 0.11%             | 2031-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| INDIGO MERGER SUB INC 144A            | PRA HEALTH SCIENCES INC SR SECURED 144A 07/26 2.875    | CUSIP: 45569KAA1<br>LEI: 549300R1HR1VWWHIAK47 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2232118.06   | 0.23%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PROG 2021-SFR3 D 144A                 | PROGRESS RESIDENTIAL TRUST PROG 2021 SFR3 D 144A       | CUSIP: 74333VAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    660000 | PA      | $656390.33    | 0.07%             | 2026-05-17      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| PROG 2021-SFR6 A 144A                 | PROGRESS RESIDENTIAL TRUST PROG 2021 SFR6 A 144A       | CUSIP: 74333HAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1107319 | PA      | $1097128.86   | 0.11%             | 2038-07-17      | Fixed         | 1.52%                 | No            |                  2 | On Loan: No      |
| PROG 2021-SFR8 A 144A                 | PROGRESS RESIDENTIAL TRUST PROG 2021 SFR8 A 144A       | CUSIP: 74333TAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    435039 | PA      | $428325.89    | 0.04%             | 2038-10-17      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| PROG 2021-SFR8 C 144A                 | PROGRESS RESIDENTIAL TRUST PROG 2021 SFR8 C 144A       | CUSIP: 74333TAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2880000 | PA      | $2837227.39   | 0.29%             | 2038-10-17      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                             | PROSUS NV SR UNSECURED REGS 01/27 3.257                | CUSIP: 6938879J2<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    409000 | PA      | $405449.10    | 0.04%             | 2027-01-19      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.         | PURCHASED USD/ SOLD JPY                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | JP        |         1 | NC      | $28491.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| QUANTA SERVICES CP 4/2 144A           | QUANTA SERVICES INC                                    | CUSIP: 74767HC24<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7997315.20   | 0.81%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RAD 2023-21A A1R 144A                 | RAD CLO LTD RAD 2023 21A A1R 144A                      | CUSIP: 750099AJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    245000 | PA      | $244930.42    | 0.02%             | 2037-01-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                    | REGAL REXNORD CORP COMPANY GUAR 04/28 6.05             | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   3850000 | PA      | $3992194.63   | 0.40%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| RELX INC 4/2 144A CP                  | RELX INC                                               | CUSIP: 75955HC23<br>LEI: 549300TEN8O7HZZY5K14 | Long             | DBT              | CORP              | US        |    800000 | PA      | $799750.80    | 0.08%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC 144A         | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 10/26 2.875 | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3458401.38   | 0.35%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS 4/2 144A CP     | ROGERS COMMUNICATIONS                                  | CUSIP: 77511MEE7<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |   1750000 | PA      | $1735764.10   | 0.18%             | 2026-05-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS 4/2 144A CP     | ROGERS COMMUNICATIONS                                  | CUSIP: 77511MD24<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |   3600000 | PA      | $3586667.40   | 0.36%             | 2026-04-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS 4/2 144A CP     | ROGERS COMMUNICATIONS 03/26 ZCP                        | CUSIP: 77511MCC3<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $299580.90    | 0.03%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN              | ROGERS COMMUNICATIONS IN COMPANY GUAR 02/29 5          | CUSIP: 775109DE8<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    575000 | PA      | $587890.07    | 0.06%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN              | ROGERS COMMUNICATIONS IN COMPANY GUAR 03/27 3.2        | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   4000000 | PA      | $3970149.84   | 0.40%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC 144A                  | ROLLS ROYCE PLC COMPANY GUAR 144A 10/27 5.75           | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $3069800.22   | 0.31%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RMRK 2018-2A A1R 144A                 | ROMARK CLO LTD RMRK 2018 2A A1R 144A                   | CUSIP: 77587EAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    115263 | PA      | $115247.31    | 0.01%             | 2031-07-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| ROSS STORES INC                       | ROSS STORES INC SR UNSECURED 04/26 0.875               | CUSIP: 778296AF0<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498037.05    | 0.05%             | 2026-04-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES 144A          | ROYAL CARIBBEAN CRUISES SR UNSECURED 144A 07/27 5.375  | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   3603000 | PA      | $3630427.87   | 0.37%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES 144A          | ROYAL CARIBBEAN CRUISES SR UNSECURED 144A 08/26 5.5    | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1750000 | PA      | $1750000.00   | 0.18%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SA GLOBAL SUKUK LTD                   | SA GLOBAL SUKUK LTD SR UNSECURED REGS 06/26 1.602      | CUSIP: 78397P9A1<br>LEI: 5493007DFAVKU7UOGR47 | Long             | DBT              | CORP              | KY        |    860000 | PA      | $854046.56    | 0.09%             | 2026-06-17      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| SBCLN 2023-B B 144A                   | SANTANDER BANK AUTO CREDIT LIN SBCLN 2023 B B 144A     | CUSIP: 80290CCB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    999082 | PA      | $1012770.09   | 0.10%             | 2033-12-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| SBCLN 2024-A A2 144A                  | SANTANDER BANK AUTO CREDIT LIN SBCLN 2024 A A2 144A    | CUSIP: 80290CCH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1567865 | PA      | $1597525.75   | 0.16%             | 2032-06-15      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| SBCLN 2024-B A2 144A                  | SANTANDER BANK AUTO CREDIT LIN SBCLN 2024 B A2 144A    | CUSIP: 80280BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    460614 | PA      | $465087.98    | 0.05%             | 2033-01-18      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| SBCLN 2024-B B 144A                   | SANTANDER BANK AUTO CREDIT LIN SBCLN 2024 B B 144A     | CUSIP: 80280BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    204400 | PA      | $205874.05    | 0.02%             | 2033-01-18      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| SBCLN 2025-A B 144A                   | SANTANDER BANK AUTO CREDIT LIN SBCLN 2025 A B 144A     | CUSIP: 80290CCR3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265000 | PA      | $266519.25    | 0.03%             | 2034-01-16      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| SDART 2022-3 C                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2022 3 C          | CUSIP: 80285UAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1104703 | PA      | $1106016.89   | 0.11%             | 2029-08-15      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| SDART 2023-4 A3                       | SANTANDER DRIVE AUTO RECEIVABL SDART 2023 4 A3         | CUSIP: 802927AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4912 | PA      | $4916.96      | 0.00%             | 2028-04-17      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| SDART 2023-5 B                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2023 5 B          | CUSIP: 80286PAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    287000 | PA      | $290273.49    | 0.03%             | 2029-12-17      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| SDART 2024-1 B                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2024 1 B          | CUSIP: 80288AAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    752260 | PA      | $755215.82    | 0.08%             | 2028-12-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| SDART 2024-2 B                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2024 2 B          | CUSIP: 80286YAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1011641.50   | 0.10%             | 2029-07-16      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| SDART 2024-5 A3                       | SANTANDER DRIVE AUTO RECEIVABL SDART 2024 5 A3         | CUSIP: 802920AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    331125 | PA      | $331622.57    | 0.03%             | 2028-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SDART 2025-1 B                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2025 1 B          | CUSIP: 80288DAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2200000 | PA      | $2216985.10   | 0.22%             | 2031-03-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SDART 2025-4 A2                       | SANTANDER DRIVE AUTO RECEIVABL SDART 2025 4 A2         | CUSIP: 802923AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2760000 | PA      | $2765790.20   | 0.28%             | 2029-01-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| SDART 2025-4 B                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2025 4 B          | CUSIP: 802923AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    850000 | PA      | $857111.27    | 0.09%             | 2032-01-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| SDART 2026-1 B                        | SANTANDER DRIVE AUTO RECEIVABL SDART 2026 1 B          | CUSIP: 80288FAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1865000 | PA      | $1870799.03   | 0.19%             | 2032-04-15      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS              | SANTANDER UK GROUP HLDGS SR UNSECURED 01/28 VAR        | CUSIP: 80281LAR6<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $493243.72    | 0.05%             | 2028-01-11      | Variable      | 2.47%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS              | SANTANDER UK GROUP HLDGS SR UNSECURED 06/27 VAR        | CUSIP: 80281LAQ8<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $993062.53    | 0.10%             | 2027-06-14      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS              | SANTANDER UK GROUP HLDGS SR UNSECURED 09/29 VAR        | CUSIP: 80281LAX3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    470000 | PA      | $471542.60    | 0.05%             | 2029-09-22      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND 144A         | SAUDI INTERNATIONAL BOND SR UNSECURED 144A 01/28 5.125 | CUSIP: 80413TBJ7<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   1350000 | PA      | $1377037.88   | 0.14%             | 2028-01-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SAUDI 144A                            | SAUDI INTERNATIONAL BOND SR UNSECURED 144A 01/29 4.125 | CUSIP: 80413TBP3<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   3250000 | PA      | $3253247.53   | 0.33%             | 2029-01-12      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST 144A                  | SBA TOWER TRUST ASSET BACKED 144A 04/27 1.84           | CUSIP: 78403DAV2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2603396.58   | 0.26%             | 2027-04-15      | Fixed         | 1.84%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST 144A                  | SBA TOWER TRUST ASSET BACKED 144A 05/51 1.631          | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $638890.79    | 0.06%             | 2026-11-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| SBALT 2024-A A4 144A                  | SBNA AUTO LEASE TRUST SBALT 2024 A A4 144A             | CUSIP: 78414SAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $220529.91    | 0.02%             | 2029-01-22      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| SBALT 2024-B A3 144A                  | SBNA AUTO LEASE TRUST SBALT 2024 B A3 144A             | CUSIP: 78437VAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155154 | PA      | $155846.96    | 0.02%             | 2027-11-22      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| SBALT 2024-B A4 144A                  | SBNA AUTO LEASE TRUST SBALT 2024 B A4 144A             | CUSIP: 78437VAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $227426.78    | 0.02%             | 2028-12-20      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| SBALT 2024-C A3 144A                  | SBNA AUTO LEASE TRUST SBALT 2024 C A3 144A             | CUSIP: 78398DAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    271414 | PA      | $271932.44    | 0.03%             | 2028-02-22      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| SBALT 2024-C A4 144A                  | SBNA AUTO LEASE TRUST SBALT 2024 C A4 144A             | CUSIP: 78398DAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    190000 | PA      | $190564.76    | 0.02%             | 2029-03-20      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| SBALT 2025-A A3 144A                  | SBNA AUTO LEASE TRUST SBALT 2025 A A3 144A             | CUSIP: 78437KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2009572.80   | 0.20%             | 2028-04-20      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| SBAT 2024-A A3 144A                   | SBNA AUTO RECEIVABLES TRUST SBAT 2024 A A3 144A        | CUSIP: 78437PAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     81276 | PA      | $81549.74     | 0.01%             | 2028-12-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| SCFET 2023-1A A3 144A                 | SCF EQUIPMENT TRUST LLC SCFET 2023 1A A3 144A          | CUSIP: 784024AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    157444 | PA      | $158223.58    | 0.02%             | 2032-05-20      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| SCFET 2023-1A B 144A                  | SCF EQUIPMENT TRUST LLC SCFET 2023 1A B 144A           | CUSIP: 784024AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43000 | PA      | $44098.96     | 0.00%             | 2032-05-20      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| SCFET 2025-1A A2 144A                 | SCF EQUIPMENT TRUST LLC SCFET 2025 1A A2 144A          | CUSIP: 78437DAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    454994 | PA      | $456984.35    | 0.05%             | 2030-07-22      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| SDR 2024-DSNY A 144A                  | SDR COMMERCIAL MORTGAGE TRUST SDR 2024 DSNY A 144A     | CUSIP: 811304AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $599625.00    | 0.06%             | 2039-05-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| SEB4P 2021-1A A2 144A                 | SEB FUNDING LLC SEB4P 2021 1A A2 144A                  | CUSIP: 78433DAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1201988 | PA      | $1201535.55   | 0.12%             | 2052-01-30      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SSTRT 2025-A B 144A                   | SECURITIZED TERM AUTO RECEIVAB SSTRT 2025 A B 144A     | CUSIP: 81378RAB0<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |    282208 | PA      | $285204.38    | 0.03%             | 2031-07-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| SSTRT 2025-B B 144A                   | SECURITIZED TERM AUTO RECEIVAB SSTRT 2025 B B 144A     | CUSIP: 81378WAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    620457 | PA      | $627408.59    | 0.06%             | 2032-12-29      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| SSTRT 2026-A B 144A                   | SECURITIZED TERM AUTO RECEIVAB SSTRT 2026 A B 144A     | CUSIP: 81378WAF0<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |   3266832 | PA      | $3281543.98   | 0.33%             | 2033-03-25      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY 4/2 144A CP             | SEMPRA ENERGY                                          | CUSIP: 81686NC99<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   8300000 | PA      | $8291249.31   | 0.84%             | 2026-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                         | SEMPRA SR UNSECURED 06/27 3.25                         | CUSIP: 816851BA6<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991089.95    | 0.10%             | 2027-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SFAST 2024-1A A3 144A                 | SFS AUTO RECEIVABLES SECURITIZ SFAST 2024 1A A3 144A   | CUSIP: 78435VAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164153 | PA      | $165038.66    | 0.02%             | 2029-05-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SFAST 2025-1A A3 144A                 | SFS AUTO RECEIVABLES SECURITIZ SFAST 2025 1A A3 144A   | CUSIP: 81885BAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1767237.33   | 0.18%             | 2030-07-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC 144A                     | SK HYNIX INC SR UNSECURED 144A 09/28 4.25              | CUSIP: 78392BAJ6<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |   1750000 | PA      | $1763439.83   | 0.18%             | 2028-09-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF EDISON CO 4/2 144A CP  | SO. CALIF EDISON                                       | CUSIP: 8424C1C63<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3597213.96   | 0.36%             | 2026-03-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF EDISON CO 4/2 144A CP  | SO. CALIF EDISON                                       | CUSIP: 8424C1CP1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498625.70    | 0.05%             | 2026-03-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE 144A                 | SOCIETE GENERALE 144A 01/28 VAR                        | CUSIP: 83368RBV3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    425000 | PA      | $430220.73    | 0.04%             | 2028-01-19      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE 144A                 | SOCIETE GENERALE 144A 02/27 VAR                        | CUSIP: 83368RCA8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1510000 | PA      | $1516165.50   | 0.15%             | 2027-02-19      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE 144A                 | SOCIETE GENERALE 144A 05/29 VAR                        | CUSIP: 83368RCH3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    435000 | PA      | $444471.79    | 0.04%             | 2029-05-22      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE 144A                 | SOCIETE GENERALE COMPANY GUAR 144A 04/29 VAR           | CUSIP: 83368RCC4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1025591.68   | 0.10%             | 2029-04-13      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE 144A                 | SOCIETE GENERALE SUBORDINATED 144A 08/26 4.25          | CUSIP: 83368JKF6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    660000 | PA      | $659722.25    | 0.07%             | 2026-08-19      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                        | SOLVENTUM CORP SR UNSECURED 02/27 5.45                 | CUSIP: 83444MAN1<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |   3563000 | PA      | $3610768.50   | 0.37%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS              | SOUTH BOW USA INFRA HLDS COMPANY GUAR 09/27 4.911      | CUSIP: 83007CAB8<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1884352.53   | 0.19%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                   | SOUTHERN CAL EDISON 1ST MORTGAGE 02/27 4.875           | CUSIP: 842400JA2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1510264.85   | 0.15%             | 2027-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                   | SOUTHERN CAL EDISON 1ST MORTGAGE 06/26 4.9             | CUSIP: 842400HW6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    550000 | PA      | $550344.78    | 0.06%             | 2026-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                   | SOUTHERN CAL EDISON 1ST MORTGAGE 06/27 4.7             | CUSIP: 842400HQ9<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3022423.11   | 0.31%             | 2027-06-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                   | SOUTHERN CAL EDISON 1ST MORTGAGE 06/29 5.15            | CUSIP: 842400JC8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1795000 | PA      | $1846307.01   | 0.19%             | 2029-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC 144A           | STANDARD CHARTERED PLC SR UNSECURED 144A 01/29 VAR     | CUSIP: 85325C2D3<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    625000 | PA      | $641103.31    | 0.06%             | 2029-01-21      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC 144A           | STANDARD CHARTERED PLC SR UNSECURED 144A 01/30 VAR     | CUSIP: 85325C2K7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   3740000 | PA      | $3751506.97   | 0.38%             | 2030-01-13      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC 144A           | STANDARD CHARTERED PLC SR UNSECURED 144A 05/28 VAR     | CUSIP: 853254DB3<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203928.30    | 0.02%             | 2028-05-14      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC 144A           | STANDARD CHARTERED PLC SR UNSECURED 144A 07/27 VAR     | CUSIP: 853254CV0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1288000 | PA      | $1294450.12   | 0.13%             | 2027-07-06      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC 144A           | STANDARD CHARTERED PLC SR UNSECURED 144A 07/27 VAR     | CUSIP: 853254CT5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1900000 | PA      | $1913764.89   | 0.19%             | 2027-07-06      | Variable      | 6.19%                 | No            |                  2 | On Loan: —       |
| STANDARD CHARTERED PLC 144A           | STANDARD CHARTERED PLC SUBORDINATED 144A 02/27 4.3     | CUSIP: 853254BF6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $500294.18    | 0.05%             | 2027-02-19      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER 4/2 144A CP    | STANLEY WORKS (THE)                                    | CUSIP: 85462DCG6<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499066.05    | 0.05%             | 2026-03-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER 4/2 144A CP    | STANLEY WORKS (THE)                                    | CUSIP: 85462DCC5<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9286752.15   | 0.94%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STATE BANK INDIA/LONDON               | STATE BANK INDIA/LONDON SR UNSECURED REGS 01/27 2.49   | CUSIP: 85628U9D0<br>LEI: 5493001JZ37UBBZF6L49 | Long             | DBT              | CORP              | IN        |   1530000 | PA      | $1508773.81   | 0.15%             | 2027-01-26      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| STATE BANK INDIA/LONDON               | STATE BANK INDIA/LONDON SR UNSECURED REGS 05/28 4.875  | CUSIP: 85628U9F5<br>LEI: 5493001JZ37UBBZF6L49 | Long             | DBT              | CORP              | IN        |    970000 | PA      | $983508.85    | 0.10%             | 2028-05-05      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FIN US INC 144A            | STELLANTIS FIN US INC COMPANY GUAR 144A 01/27 1.711    | CUSIP: 85855CAA8<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1294403.68   | 0.13%             | 2027-01-29      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FINANCIAL SER 144A         | STELLANTIS FINANCIAL SER SR UNSECURED 144A 09/28 VAR   | CUSIP: 85855FAC7<br>LEI: 5493000KNKFDOC1BOW59 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1603581.30   | 0.16%             | 2028-09-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| SFUEL 2025-AA A2 144A                 | STELLANTIS FINANCIAL UNDERWRIT SFUEL 2025 AA A2 144A   | CUSIP: 858928AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    520393 | PA      | $521876.48    | 0.05%             | 2027-07-20      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SFUEL 2025-BA B 144A                  | STELLANTIS FINANCIAL UNDERWRIT SFUEL 2025 BA B 144A    | CUSIP: 858933AE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    870000 | PA      | $878051.15    | 0.09%             | 2029-07-20      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| SFUEL 2025-CA A2 144A                 | STELLANTIS FINANCIAL UNDERWRIT SFUEL 2025 CA A2 144A   | CUSIP: 85855EAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1110000 | PA      | $1112579.97   | 0.11%             | 2028-06-20      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| SFUEL 2025-CA B 144A                  | STELLANTIS FINANCIAL UNDERWRIT SFUEL 2025 CA B 144A    | CUSIP: 85855EAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    575000 | PA      | $579716.73    | 0.06%             | 2029-12-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SYMP 2015-16A ARR 144A                | SYMPHONY CLO LTD SYMP 2015 16A ARR 144A                | CUSIP: 87165VAX7<br>LEI: 5493004PWOYFPAFQVT02 | Long             | ABS-CBDO         | CORP              | KY        |    191172 | PA      | $191162.21    | 0.02%             | 2031-10-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| SYMP 2020-23A AR2 144A                | SYMPHONY CLO LTD SYMP 2020 23A AR2 144A                | CUSIP: 87167NDL6<br>LEI: 54930001DQI1CFLYVB48 | Long             | ABS-CBDO         | CORP              | KY        |   1031221 | PA      | $1031156.02   | 0.10%             | 2034-01-15      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund                  | CUSIP: 000000000<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |      1609 | NS      | $1608.74      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TARGA RESOURCES CORP 4/2 144A CP      | TARGA RES CORP                                         | CUSIP: 87613LC23<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5998071.00   | 0.61%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP 4/2 144A CP      | TARGA RES CORP                                         | CUSIP: 87613LC31<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1999142.00   | 0.20%             | 2026-03-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS              | TARGA RESOURCES PARTNERS COMPANY GUAR 01/28 5          | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3701000 | PA      | $3702213.04   | 0.37%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FIN CO IN              | TENGIZCHEVROIL FIN CO IN SR SECURED REGS 08/26 4       | CUSIP: 88034Q9A7<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | CORP              | BM        |    870000 | PA      | $867579.61    | 0.09%             | 2026-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THAIOIL TRSRY CENTER                  | THAIOIL TRSRY CENTER COMPANY GUAR REGS 11/28 4.625     | CUSIP: 88323AAC6<br>LEI: 549300NH03B9E8VGJR89 | Long             | DBT              | CORP              | TH        |   1920000 | PA      | $1931497.11   | 0.20%             | 2028-11-20      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HACLN 2024-1 B1 144A                  | THE HUNTINGTON NATIONAL BANK HACLN 2024 1 B1 144A      | CUSIP: 44644NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    973029 | PA      | $989563.40    | 0.10%             | 2032-05-20      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| HACLN 2024-2 B1 144A                  | THE HUNTINGTON NATIONAL BANK HACLN 2024 2 B1 144A      | CUSIP: 44644NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    319214 | PA      | $322772.99    | 0.03%             | 2032-10-20      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| HACLN 2025-1 B1 144A                  | THE HUNTINGTON NATIONAL BANK HACLN 2025 1 B 144A       | CUSIP: 446438SX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1780694 | PA      | $1795427.31   | 0.18%             | 2033-03-21      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| HACLN 2025-2 B1 144A                  | THE HUNTINGTON NATIONAL BANK HACLN 2025 2 B1 144A      | CUSIP: 44644NAN9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2182446 | PA      | $2199629.21   | 0.22%             | 2033-09-20      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| TML HOLDINGS PTE LTD                  | TML HOLDINGS PTE LTD SR UNSECURED REGS 06/26 4.35      | CUSIP: 87499B9C6<br>LEI: 254900EBGMM47QH02V57 | Long             | DBT              | CORP              | SG        |   1720000 | PA      | $1718462.35   | 0.17%             | 2026-06-09      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                 | TORONTO DOMINION BANK SR UNSECURED 06/28 VAR           | CUSIP: 89115KAA8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $5027837.65   | 0.51%             | 2028-06-02      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| TPMT 2018-2 A1 144A                   | TOWD POINT MORTGAGE TRUST TPMT 2018 2 A1 144A          | CUSIP: 89175VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    169222 | PA      | $167951.66    | 0.02%             | 2058-03-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| TPMT 2019-HY3 M1 144A                 | TOWD POINT MORTGAGE TRUST TPMT 2019 HY3 M1 144A        | CUSIP: 89177XAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1001798.70   | 0.10%             | 2059-10-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 03/26 0.00000                            | CUSIP: 912797SZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11000000 | PA      | $10983386.70  | 1.11%             | 2026-03-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 05/26 0.00000                            | CUSIP: 912797TR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4185000 | PA      | $4155390.92   | 0.42%             | 2026-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GRS - SECURITY LENDING COLLATERAL     | TREASURY RESERVE FUND - Collateral                     | CUSIP: 76105YYY9<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |    891950 | NS      | $891950.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TX 2024-HOU A 144A                    | TX TRUST 24 HOU TX 2024 HOU A 144A                     | CUSIP: 90216DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $300187.47    | 0.03%             | 2039-06-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| USCLN 2023-1 B 144A                   | U.S. BANK NATIONAL ASSOCIATION USCLN 2023 1 B 144A     | CUSIP: 90357PAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288274 | PA      | $291127.26    | 0.03%             | 2032-08-25      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG 144A                     | UBS GROUP AG SR UNSECURED 144A 12/27 VAR               | CUSIP: 225401BC1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $305563.06    | 0.03%             | 2027-12-22      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| N/A                                   | US 10YR NOTE (CBT)JUN26 XCBT 20260618                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       -12 | NC      | $-6017.03     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 10YR ULTRA FUT JUN26 XCBT 20260618                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |        -9 | NC      | $-5637.78     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 2YR FUTR OPTN  JUN26P 103.5 EXP 05/22/2026          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |       657 | NC      | $10266.28     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 2YR NOTE (CBT) JUN26 XCBT 20260630                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |      -292 | NC      | $-68852.44    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 5YR NOTE (CBT) JUN26 XCBT 20260630                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |      -249 | NC      | $-79875.47    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| US BANK NA CINCINNATI                 | US BANK NA CINCINNATI SR UNSECURED 05/28 VAR           | CUSIP: 90331HPT4<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2259042.95   | 0.23%             | 2028-05-15      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| N/A                                   | US LONG BOND(CBT) JUN26 XCBT 20260618                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |        -1 | NC      | $-892.04      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                       | US TREASURY N/B 01/27 4.125                            | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1640000 | PA      | $1648456.25   | 0.17%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                       | US TREASURY N/B 02/27 4.125                            | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1880000 | PA      | $1890868.75   | 0.19%             | 2027-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                       | US TREASURY N/B 07/26 4.375                            | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    525000 | PA      | $526517.58    | 0.05%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                       | US TREASURY N/B 10/27 3.5                              | CUSIP: 91282CPE5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7500000 | PA      | $7508789.10   | 0.76%             | 2027-10-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                       | US TREASURY N/B 11/27 3.375                            | CUSIP: 91282CPL9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3695000 | PA      | $3692834.95   | 0.37%             | 2027-11-30      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                       | US TREASURY N/B 12/26 4.25                             | CUSIP: 91282CME8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1625000 | PA      | $1634204.10   | 0.17%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| USCAR 2025-1A A2 144A                 | USB AUTO OWNER TRUST USCAR 2025 1A A2 144A             | CUSIP: 90367VAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    852702 | PA      | $854463.91    | 0.09%             | 2028-06-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                  | UTAH ACQUISITION SUB COMPANY GUAR 06/26 3.95           | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |   4854000 | PA      | $4845825.67   | 0.49%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| VERD 2023-1A A2 144A                  | VERDANT RECEIVABLES LLC VERD 2023 1A A2 144A           | CUSIP: 92339GAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238875 | PA      | $242827.26    | 0.02%             | 2031-01-13      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| VERD 2024-1A A2 144A                  | VERDANT RECEIVABLES LLC VERD 2024 1A A2 144A           | CUSIP: 92339MAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63560 | PA      | $64586.23     | 0.01%             | 2031-12-12      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| VERD 2025-1A A2 144A                  | VERDANT RECEIVABLES LLC VERD 2025 1A A2 144A           | CUSIP: 92340GAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1550588 | PA      | $1557218.88   | 0.16%             | 2028-03-13      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| VZMT 2024-6 B                         | VERIZON MASTER TRUST VZMT 2024 6 B                     | CUSIP: 92348KDG5<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    970000 | PA      | $976319.07    | 0.10%             | 2030-08-20      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| VERUS 2021-2 A1 144A                  | VERUS SECURITIZATION TRUST VERUS 2021 2 A1 144A        | CUSIP: 92538FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     62955 | PA      | $58159.70     | 0.01%             | 2066-02-25      | Variable      | 1.03%                 | No            |                  2 | On Loan: No      |
| VERUS 2021-4 A1 144A                  | VERUS SECURITIZATION TRUST VERUS 2021 4 A1 144A        | CUSIP: 92538HAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     74283 | PA      | $64331.50     | 0.01%             | 2066-07-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| VERUS 2021-R3  A1 144A                | VERUS SECURITIZATION TRUST VERUS 2021 R3 A1 144A       | CUSIP: 92538EAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     37458 | PA      | $35998.07     | 0.00%             | 2064-04-25      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| VERUS 2023-3 A1 144A                  | VERUS SECURITIZATION TRUST VERUS 2023 3 A1 144A        | CUSIP: 92539GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    673473 | PA      | $672365.05    | 0.07%             | 2068-03-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| VERUS 2023-8 A1 144A                  | VERUS SECURITIZATION TRUST VERUS 2023 8 A1 144A        | CUSIP: 92540DAA3<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |    117756 | PA      | $118749.13    | 0.01%             | 2068-12-25      | Variable      | 6.26%                 | No            |                  2 | On Loan: No      |
| VERUS 2023-INV3 A1 144A               | VERUS SECURITIZATION TRUST VERUS 2023 INV3 A1 144A     | CUSIP: 92540CAA5<br>LEI: 9845008F97BFO762AF95 | Long             | ABS-MBS          | CORP              | US        |    485574 | PA      | $490648.01    | 0.05%             | 2068-11-25      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| VERUS 2024-1 A1 144A                  | VERUS SECURITIZATION TRUST VERUS 2024 1 A1 144A        | CUSIP: 92540EAA1<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |    376062 | PA      | $378115.07    | 0.04%             | 2069-01-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| VERUS 2024-INV1 A1 144A               | VERUS SECURITIZATION TRUST VERUS 2024 INV1 A1 144A     | CUSIP: 92540FAA8<br>LEI: 9845000FE754F4AE7E70 | Long             | ABS-MBS          | CORP              | US        |    322498 | PA      | $326009.26    | 0.03%             | 2069-03-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| VERUS 2025-7 A1B 144A                 | VERUS SECURITIZATION TRUST VERUS 2025 7 A1B 144A       | CUSIP: 924931AB4<br>LEI: 213800OVCAXDOBS94P47 | Long             | ABS-MBS          | CORP              | US        |    599795 | PA      | $602876.41    | 0.06%             | 2070-08-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                           | VIATRIS INC COMPANY GUAR 06/27 2.3                     | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1706432.84   | 0.17%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| VSTA 2020-2 A1 144A                   | VISTA POINT SECURITIZATION TRU VSTA 2020 2 A1 144A     | CUSIP: 92838TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     28020 | PA      | $27318.34     | 0.00%             | 2065-04-25      | Variable      | 1.48%                 | No            |                  2 | On Loan: No      |
| VWALT 2024-A A3                       | VOLKSWAGEN AUTO LEASE TRUST VWALT 2024 A A3            | CUSIP: 92866EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    301771 | PA      | $303252.81    | 0.03%             | 2027-06-21      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 03/27 4.95  | CUSIP: 928668CN0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3026821.89   | 0.31%             | 2027-03-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 03/29 5.25  | CUSIP: 928668CG5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1540810.55   | 0.16%             | 2029-03-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 08/26 4.9   | CUSIP: 928668CK6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    375000 | PA      | $376239.17    | 0.04%             | 2026-08-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 08/27 4.85  | CUSIP: 928668CL4<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    275000 | PA      | $277873.48    | 0.03%             | 2027-08-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 08/29 4.95  | CUSIP: 928668CM2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    700000 | PA      | $713758.69    | 0.07%             | 2029-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 11/26 6     | CUSIP: 928668CA8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    395000 | PA      | $399779.03    | 0.04%             | 2026-11-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA 144A         | VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 11/28 6.2   | CUSIP: 928668CB6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    250000 | PA      | $262313.40    | 0.03%             | 2028-11-16      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| VOYA FINANCIAL INC                    | VOYA FINANCIAL INC COMPANY GUAR 06/26 3.65             | CUSIP: 929089AB6<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |    900000 | PA      | $899212.93    | 0.09%             | 2026-06-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| WELF 2021-2A A1R 144A                 | WELLFLEET CLO LTD WELF 2021 2A A1R 144A                | CUSIP: 95023AAL4<br>LEI: 2549005MTORTL04RYQ32 | Long             | ABS-CBDO         | CORP              | KY        |   3360000 | PA      | $3361532.16   | 0.34%             | 2034-07-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                 | WELLS FARGO + COMPANY SR UNSECURED 01/30 VAR           | CUSIP: 95000U4D2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4516035.48   | 0.46%             | 2030-01-23      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                 | WELLS FARGO + COMPANY SR UNSECURED 04/28 VAR           | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    430000 | PA      | $437895.98    | 0.04%             | 2028-04-22      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| WFCM 2016-LC25 A4                     | WELLS FARGO COMMERCIAL MORTGAG WFCM 2016 LC25 A4       | CUSIP: 95000JAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $647340.33    | 0.07%             | 2059-12-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| WESTERN UNION CO/THE                  | WESTERN UNION CO/THE SR UNSECURED 03/26 1.35           | CUSIP: 959802AZ2<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |   2134000 | PA      | $2131573.07   | 0.22%             | 2026-03-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| WFLF 2024-1A A1 144A                  | WHEELS FLEET LEASE FUNDING LLC WFLF 2024 1A A1 144A    | CUSIP: 96328GBM8<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    233163 | PA      | $235759.71    | 0.02%             | 2039-02-18      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| WFLF 2025-3A A1 144A                  | WHEELS FLEET LEASE FUNDING LLC WFLF 2025 3A A1 144A    | CUSIP: 96328GCP0<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   1685000 | PA      | $1691954.84   | 0.17%             | 2040-09-18      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| WEF 2025-1A A2 144A                   | WINGSPIRE EQUIPMENT FINANCE LL WEF 2025 1A A2 144A     | CUSIP: 97415CAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    455000 | PA      | $457040.22    | 0.05%             | 2033-09-20      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| WEF 2025-1A C 144A                    | WINGSPIRE EQUIPMENT FINANCE LL WEF 2025 1A C 144A      | CUSIP: 97415CAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1054000 | PA      | $1059930.86   | 0.11%             | 2033-09-20      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| WOSAT 2023-A C                        | WORLD OMNI SELECT AUTO TRUST WOSAT 2023 A C            | CUSIP: 98163UAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $151556.15    | 0.02%             | 2029-01-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-06

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President