# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0001752724-23-016755
**Filing Date:** 2023-1
**Character Count:** 446085
**Document Hash:** 172091954508e5810b590929a3392999
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016755.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016755

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 23563264

**BUSINESS ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172

## Series and Classes Contracts Data

### JPMorgan High Yield Research Enhanced ETF (Series ID: S000054488)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000171065 | JPMorgan High Yield Research Enhanced ETF | JPHY            |

## Nport-Ex

**JPMorgan High Yield Research Enhanced ETF**

**Schedule of Portfolio Investments as of November 30, 2022**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2022. |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — 96.0%** | **Corporate Bonds — 96.0%** | **Corporate Bonds — 96.0%** |
| **Aerospace & Defense — 3.2%** | **Aerospace & Defense — 3.2%** | **Aerospace & Defense — 3.2%** |
| &nbsp;&nbsp;&nbsp; Bombardier, Inc. (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/15/2026 (a) | 855000 | 840029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 4/15/2027 (a) | 1186000 | 1166716 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. 4.13%, 6/30/2028 (a) | 327000 | 291030 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/1/2025 | 313000 | 319749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 2/1/2027 | 500000 | 495000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 2/1/2037 | 783000 | 740046 |
| &nbsp;&nbsp;&nbsp; Moog, Inc. 4.25%, 12/15/2027 (a) | 207000 | 185783 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce plc (United Kingdom) 5.75%, 10/15/2027 (a) | 800000 | 761152 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 849000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 11/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 524000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551510 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2026 (a) | &nbsp;&nbsp;&nbsp; 2900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2885906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2027 | &nbsp;&nbsp;&nbsp; 1517000 | &nbsp;&nbsp;&nbsp;&nbsp; 1429772 |
| &nbsp;&nbsp;&nbsp; Triumph Group, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 6/1/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 324133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 9/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 8/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279545 |
| &nbsp;&nbsp;&nbsp; Wesco Aircraft Holdings, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/15/2024 (a) | &nbsp;&nbsp;&nbsp; 1588000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 11/15/2026 (a) | &nbsp;&nbsp;&nbsp; 1791000 | &nbsp;&nbsp;&nbsp;&nbsp; 1137285 |
|  |  | &nbsp;&nbsp; 13342681 |
| **Airlines — 1.9%** | **Airlines — 1.9%** | **Airlines — 1.9%** |
| &nbsp;&nbsp;&nbsp; Air Canada (Canada) 3.88%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453841 |
| &nbsp;&nbsp;&nbsp; Allegiant Travel Co. 7.25%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192880 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/20/2026 (a) | &nbsp;&nbsp;&nbsp; 1878009 | &nbsp;&nbsp;&nbsp;&nbsp; 1821327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/20/2029 (a) | &nbsp;&nbsp;&nbsp; 1822009 | &nbsp;&nbsp;&nbsp;&nbsp; 1696198 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/28/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 517000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442660 |
| &nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual Property Ltd. 5.75%, 1/20/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 437111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414268 |
| &nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman Ltd. 8.00%, 9/20/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 231850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234447 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp; 1416000 | &nbsp;&nbsp;&nbsp;&nbsp; 1318332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp; 1043000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 928496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7911549 |
| **Auto Components — 2.3%** | **Auto Components — 2.3%** | **Auto Components — 2.3%** |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd. 4.88%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326693 |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc. 5.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 576000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544459 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. 6.50%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 728000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 684320 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 916000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 896404 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Auto Components — continued** | **Auto Components — continued** | **Auto Components — continued** |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.00%, 6/1/2024 (a) | 192000 | 200855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/15/2026 (a) | 205000 | 85712 |
| &nbsp;&nbsp;&nbsp; Dana, Inc. 5.38%, 11/15/2027 | 863000 | 790784 |
| &nbsp;&nbsp;&nbsp; Dornoch Debt Merger Sub, Inc. 6.63%, 10/15/2029 (a) | 313000 | 208291 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The)  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/31/2026 | 259000 | 248876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/15/2027 | 1390000 | 1300109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/30/2031 | 575000 | 491625 |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2026 | 984000 | 971277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2027 | &nbsp;&nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 934805 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH (Germany) 6.38% (Cash), 5/15/2029 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510000 |
| &nbsp;&nbsp;&nbsp; JB Poindexter & Co., Inc. 7.13%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215487 |
| &nbsp;&nbsp;&nbsp; Real Hero Merger Sub 2, Inc. 6.25%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160080 |
| &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc. (Germany) 4.75%, 4/29/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9556237 |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC 9.50%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224567 |
| **Banks — 0.6%** | **Banks — 0.6%** | **Banks — 0.6%** |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA (Italy) 5.71%, 1/15/2026 (a) | &nbsp;&nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1545836 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA (Italy) (USD ICE Swap Rate 5 Year + 3.70%), 5.86%, 6/19/2032 (a) (c) | &nbsp;&nbsp;&nbsp; 1225000 | &nbsp;&nbsp;&nbsp;&nbsp; 1066682 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2612518 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc. (Canada) 4.38%, 4/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255792 |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings, Inc. 6.25%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252164 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507956 |
| **Biotechnology — 0.0% ^** | **Biotechnology — 0.0% ^** | **Biotechnology — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Emergent BioSolutions, Inc. 3.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84600 |
| **Building Products — 1.3%** | **Building Products — 1.3%** | **Building Products — 1.3%** |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. 6.38%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455192 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. 5.00%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp; 1056000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 936729 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. 5.75%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386942 |
| &nbsp;&nbsp;&nbsp; James Hardie International Finance DAC 5.00%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275989 |
| &nbsp;&nbsp;&nbsp; JELD-WEN, Inc. 4.88%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369732 |
| &nbsp;&nbsp;&nbsp; Masonite International Corp. 5.38%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366989 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC 5.50%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208280 |
| &nbsp;&nbsp;&nbsp; PGT Innovations, Inc. 4.38%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193724 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc. 4.75%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp; 1761000 | &nbsp;&nbsp;&nbsp;&nbsp; 1596021 |
| &nbsp;&nbsp;&nbsp; Summit Materials LLC 5.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5228094 |
| **Capital Markets — 0.8%** | **Capital Markets — 0.8%** | **Capital Markets — 0.8%** |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 718000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 419656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108540 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Capital Markets — continued** | **Capital Markets — continued** | **Capital Markets — continued** |
| &nbsp;&nbsp;&nbsp; Dresdner Funding Trust I 8.15%, 6/30/2031 (a) | 400000 | 404800 |
| &nbsp;&nbsp;&nbsp; LPL Holdings, Inc. 4.63%, 11/15/2027 (a) | 652000 | 602324 |
| &nbsp;&nbsp;&nbsp; MSCI, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/2029 (a) | 1733000 | 1530291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2031 (a) | 497000 | 431784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3497395 |
| **Chemicals — 2.7%** | **Chemicals — 2.7%** | **Chemicals — 2.7%** |
| &nbsp;&nbsp;&nbsp; Ashland LLC 3.38%, 9/1/2031 (a) | 254000 | 203421 |
| &nbsp;&nbsp;&nbsp; Avient Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/15/2025 (a) | 228000 | 222295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 8/1/2030 (a) | 687000 | 670718 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618885 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) 5.75%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp; 1229000 | &nbsp;&nbsp;&nbsp;&nbsp; 1079388 |
| &nbsp;&nbsp;&nbsp; Consolidated Energy Finance SA (Switzerland) 5.63%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174750 |
| &nbsp;&nbsp;&nbsp; CVR Partners LP 6.13%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 388000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350337 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512796 |
| &nbsp;&nbsp;&nbsp; Gates Global LLC 6.25%, 1/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215019 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc (United Kingdom) 3.38%, 1/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266724 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp. 3.88%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333327 |
| &nbsp;&nbsp;&nbsp; Koppers, Inc. 6.00%, 2/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153656 |
| &nbsp;&nbsp;&nbsp; LSB Industries, Inc. 6.25%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 441000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411859 |
| &nbsp;&nbsp;&nbsp; Methanex Corp. (Canada) 5.25%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 606442 |
| &nbsp;&nbsp;&nbsp; Nufarm Australia Ltd. (Australia) 5.00%, 1/27/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114738 |
| &nbsp;&nbsp;&nbsp; Olin Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282390 |
| &nbsp;&nbsp;&nbsp; Olympus Water US Holding Corp. 4.25%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364594 |
| &nbsp;&nbsp;&nbsp; Rain CII Carbon LLC 7.25%, 4/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327614 |
| &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 186000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155310 |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The)  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249247 |
| &nbsp;&nbsp;&nbsp; SK Invictus Intermediate II Sarl (Luxembourg) 5.00%, 10/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214400 |
| &nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 9/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181331 |
| &nbsp;&nbsp;&nbsp; Tronox, Inc. 4.63%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 743000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598256 |
| &nbsp;&nbsp;&nbsp; Valvoline, Inc. 4.25%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313927 |
| &nbsp;&nbsp;&nbsp; Venator Finance SARL  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54510 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 548000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 914000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753538 |
|  |  | &nbsp;&nbsp; 11140407 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Commercial Services & Supplies — 2.7%** | **Commercial Services & Supplies — 2.7%** | **Commercial Services & Supplies — 2.7%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. 4.25%, 3/15/2029 (a) | 230000 | 192144 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2026 (a) | 1426000 | 1354700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 7/15/2027 (a) | 398000 | 359155 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc. 4.13%, 7/15/2029 (a) | 330000 | 274270 |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/1/2025 (a) | 564000 | 562883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (a) | 693000 | 648073 |
| &nbsp;&nbsp;&nbsp; Brink's Co. (The) 4.63%, 10/15/2027 (a) | 458000 | 421124 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. 8.25%, 4/15/2026 | 441000 | 450503 |
| &nbsp;&nbsp;&nbsp; Covanta Holding Corp. 4.88%, 12/1/2029 (a) | 313000 | 264485 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp. (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 566000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523603 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The) 10.50%, 6/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271457 |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc. (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 751109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp; 1145000 | &nbsp;&nbsp;&nbsp;&nbsp; 1002826 |
| &nbsp;&nbsp;&nbsp; Harsco Corp. 5.75%, 7/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153425 |
| &nbsp;&nbsp;&nbsp; Interface, Inc. 5.50%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151765 |
| &nbsp;&nbsp;&nbsp; KAR Auction Services, Inc. 5.13%, 6/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58333 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505975 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp; 1915000 | &nbsp;&nbsp;&nbsp;&nbsp; 1895850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 573000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532890 |
| &nbsp;&nbsp;&nbsp; Stericycle, Inc. 3.88%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 386000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335820 |
| &nbsp;&nbsp;&nbsp; Waste Pro USA, Inc. 5.50%, 2/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173503 |
|  |  | &nbsp;&nbsp; 11254066 |
| **Communications Equipment — 1.0%** | **Communications Equipment — 1.0%** | **Communications Equipment — 1.0%** |
| &nbsp;&nbsp;&nbsp; Ciena Corp. 4.00%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159362 |
| &nbsp;&nbsp;&nbsp; CommScope Technologies LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200622 |
| &nbsp;&nbsp;&nbsp; CommScope, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 3/1/2026 (a) | &nbsp;&nbsp;&nbsp; 1497000 | &nbsp;&nbsp;&nbsp;&nbsp; 1448288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp; 1244000 | &nbsp;&nbsp;&nbsp;&nbsp; 1067856 |
| &nbsp;&nbsp;&nbsp; Nokia OYJ (Finland) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 6/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153612 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278468 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc. 3.75%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4287371 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** |
| &nbsp;&nbsp;&nbsp; AECOM 5.13%, 3/15/2027 | 418000 | 406664 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. 4.50%, 4/15/2029 (a) | 254000 | 218145 |
| &nbsp;&nbsp;&nbsp; Global Infrastructure Solutions, Inc. 5.63%, 6/1/2029 (a) | 330000 | 255750 |
| &nbsp;&nbsp;&nbsp; Pike Corp. 5.50%, 9/1/2028 (a) | 431000 | 385030 |
| &nbsp;&nbsp;&nbsp; Weekley Homes LLC 4.88%, 9/15/2028 (a) | 175000 | 141834 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1407423 |
| **Consumer Finance — 5.2%** | **Consumer Finance — 5.2%** | **Consumer Finance — 5.2%** |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. 5.75%, 11/20/2025 | 396000 | 390720 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp. 6.63%, 3/15/2026 | 232000 | 219240 |
| &nbsp;&nbsp;&nbsp; Curo Group Holdings Corp. 7.50%, 8/1/2028 (a) | 381000 | 156210 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc. 8.50%, 9/15/2025 (a) | 209000 | 192280 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc. 5.63%, 1/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285627 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/16/2025 | &nbsp;&nbsp; 3950000 | &nbsp;&nbsp;&nbsp;&nbsp; 3824832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/17/2027 | &nbsp;&nbsp; 7700000 | &nbsp;&nbsp;&nbsp;&nbsp; 7025249 |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd. (Cayman Islands) 6.50% (Cash), 9/15/2024 (a) (b) | &nbsp;&nbsp; 1798557 | &nbsp;&nbsp;&nbsp;&nbsp; 1473841 |
| &nbsp;&nbsp;&nbsp; Navient Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 9/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/25/2024 | &nbsp;&nbsp; 1056000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468324 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2024 | &nbsp;&nbsp; 1737000 | &nbsp;&nbsp;&nbsp;&nbsp; 1694096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 3/15/2026 | &nbsp;&nbsp; 3258000 | &nbsp;&nbsp;&nbsp;&nbsp; 3156334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436370 |
| &nbsp;&nbsp;&nbsp; SLM Corp. 4.20%, 10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278003 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance plc (Switzerland) 6.38%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647800 |
|  |  | &nbsp;&nbsp; 21484941 |
| **Containers & Packaging — 2.6%** | **Containers & Packaging — 2.6%** | **Containers & Packaging — 2.6%** |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440000 |
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance plc  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378150 |
| &nbsp;&nbsp;&nbsp; Ball Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 881000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 854570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 9/15/2031 | &nbsp;&nbsp; 1266000 | &nbsp;&nbsp;&nbsp;&nbsp; 1005836 |
| &nbsp;&nbsp;&nbsp; Berry Global, Inc. 5.63%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 272000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266560 |
| &nbsp;&nbsp;&nbsp; Crown Americas LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228475 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/15/2028 (a) | &nbsp;&nbsp; 1008000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876281 |
| &nbsp;&nbsp;&nbsp; LABL, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 528000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 404000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371680 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Containers & Packaging — continued** | **Containers & Packaging — continued** | **Containers & Packaging — continued** |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2024 (a) | 835000 | 823578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 4/15/2025 (a) | 605000 | 552062 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (a) | 675000 | 649369 |
| &nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a) | 745000 | 654762 |
| &nbsp;&nbsp;&nbsp; Pactiv LLC 7.95%, 12/15/2025 | 140000 | 131129 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/15/2025 (a) | 212000 | 210295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/15/2033 (a) | 423000 | 414397 |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. 4.13%, 2/1/2028 | 221000 | 207508 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. 4.13%, 4/15/2029 (a) | 190000 | 161975 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV (Netherlands) 5.50%, 8/15/2026 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563802 |
|  |  | &nbsp;&nbsp; 11030900 |
| **Distributors — 0.1%** | **Distributors — 0.1%** | **Distributors — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co., Inc. 4.00%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 488000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441645 |
| **Diversified Consumer Services — 0.3%** | **Diversified Consumer Services — 0.3%** | **Diversified Consumer Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Metis Merger Sub LLC 6.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191052 |
| &nbsp;&nbsp;&nbsp; Service Corp. International  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 599000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 567364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329670 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1088086 |
| **Diversified Financial Services — 0.4%** | **Diversified Financial Services — 0.4%** | **Diversified Financial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262735 |
| &nbsp;&nbsp;&nbsp; Oxford Finance LLC 6.38%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215407 |
| &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc. 9.25%, 4/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 458000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 456855 |
| &nbsp;&nbsp;&nbsp; Verscend Escrow Corp. 9.75%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307071 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1540808 |
| **Diversified Telecommunication Services — 5.9%** | **Diversified Telecommunication Services — 5.9%** | **Diversified Telecommunication Services — 5.9%** |
| &nbsp;&nbsp;&nbsp; Altice France Holding SA (Luxembourg) 10.50%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592500 |
| &nbsp;&nbsp;&nbsp; Altice France SA (France) 5.50%, 1/15/2028 (a) | &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;&nbsp;&nbsp; 2125195 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 926000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/1/2029 (a) | &nbsp;&nbsp; 3662000 | &nbsp;&nbsp;&nbsp;&nbsp; 3323155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 (a) | &nbsp;&nbsp; 4903000 | &nbsp;&nbsp;&nbsp;&nbsp; 4215222 |
| &nbsp;&nbsp;&nbsp; Consolidated Communications, Inc. 6.50%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266587 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 788000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 749798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 779000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335178 |
| &nbsp;&nbsp;&nbsp; Iliad Holding SASU (France) 6.50%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523185 |
| &nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA (Luxembourg) 6.50%, 3/15/2030 (a) | &nbsp;&nbsp; 1298000 | &nbsp;&nbsp;&nbsp;&nbsp; 1194160 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/15/2027 (a) | &nbsp;&nbsp; 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893050 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** | **Diversified Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 7/1/2028 (a) | 603000 | 472143 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2027 (a) | 1432000 | 1220780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (a) | 461000 | 325581 |
| &nbsp;&nbsp;&nbsp; Qwest Corp. 7.25%, 9/15/2025 | 140000 | 139300 |
| &nbsp;&nbsp;&nbsp; Sprint Capital Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2028 | 1546000 | 1638157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 3/15/2032 | 871000 | 1041411 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA (Italy) 6.38%, 11/15/2033 | 600000 | 492750 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA (Italy) 5.30%, 5/30/2024 (a) | 926000 | 896831 |
| &nbsp;&nbsp;&nbsp; Telesat Canada (Canada) 5.63%, 12/6/2026 (a) | 313000 | 147622 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc (United Kingdom) 5.50%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1293404 |
| &nbsp;&nbsp;&nbsp; Windstream Escrow LLC 7.75%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370125 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 421000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 301550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175227 |
|  |  | &nbsp;&nbsp; 24715942 |
| **Electric Utilities — 1.9%** | **Electric Utilities — 1.9%** | **Electric Utilities — 1.9%** |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 3/1/2030 | &nbsp;&nbsp;&nbsp; 1361000 | &nbsp;&nbsp;&nbsp;&nbsp; 1125220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, 5.35%, 7/15/2047 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 213000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187679 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Operating Partners LP 4.50%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 846000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 796298 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp; 1444000 | &nbsp;&nbsp;&nbsp;&nbsp; 1330870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 403823 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. 5.25%, 7/1/2030 | &nbsp;&nbsp;&nbsp; 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959814 |
| &nbsp;&nbsp;&nbsp; Terraform Global Operating LP 6.13%, 3/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172174 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp; 2322000 | &nbsp;&nbsp;&nbsp;&nbsp; 2246426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 372182 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7894184 |
| **Electrical Equipment — 0.2%** | **Electrical Equipment — 0.2%** | **Electrical Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. 4.25%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155020 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV 5.00%, 10/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469032 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp. 4.13%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 357000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307020 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931072 |
| **Electronic Equipment, Instruments & Components — 0.5%** | **Electronic Equipment, Instruments & Components — 0.5%** | **Electronic Equipment, Instruments & Components — 0.5%** |
| &nbsp;&nbsp;&nbsp; Coherent Corp. 5.00%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 494000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435955 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc. 4.38%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp; 1687000 | &nbsp;&nbsp;&nbsp;&nbsp; 1494016 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1929971 |
| **Energy Equipment & Services — 1.0%** | **Energy Equipment & Services — 1.0%** | **Energy Equipment & Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 512000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123358 |
| &nbsp;&nbsp;&nbsp; Nabors Industries Ltd. 7.25%, 1/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226855 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Energy Equipment & Services — continued** | **Energy Equipment & Services — continued** | **Energy Equipment & Services — continued** |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 2/1/2025 | 499000 | 479040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 5/15/2027 (a) | 539000 | 524177 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc. 4.65%, 11/15/2024 | 225000 | 218050 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. 3.95%, 2/1/2028 | 285000 | 252983 |
| &nbsp;&nbsp;&nbsp; Precision Drilling Corp. (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 1/15/2026 (a) | 245000 | 239889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/15/2029 (a) | 164000 | 154955 |
| &nbsp;&nbsp;&nbsp; Transocean Guardian Ltd. 5.88%, 1/15/2024 (a) | 278997 | 271768 |
| &nbsp;&nbsp;&nbsp; Transocean Pontus Ltd. 6.13%, 8/1/2025 (a) | 236880 | 229774 |
| &nbsp;&nbsp;&nbsp; Transocean, Inc. 11.50%, 1/30/2027 (a) | 189000 | 191356 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP 6.88%, 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397362 |
| &nbsp;&nbsp;&nbsp; Weatherford International Ltd. 6.50%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3959890 |
| **Entertainment — 1.5%** | **Entertainment — 1.5%** | **Entertainment — 1.5%** |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU (France) 5.38%, 3/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237012 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 243000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 474000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378607 |
| &nbsp;&nbsp;&nbsp; Lions Gate Capital Holdings LLC 5.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192400 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/1/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 372000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 771458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209378 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc. 5.88%, 11/15/2028 | &nbsp;&nbsp; 2915000 | &nbsp;&nbsp;&nbsp;&nbsp; 2944762 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp. 3.88%, 5/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230755 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 433000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191454 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6145146 |
| **Equity Real Estate Investment Trusts (REITs) — 2.8%** | **Equity Real Estate Investment Trusts (REITs) — 2.8%** | **Equity Real Estate Investment Trusts (REITs) — 2.8%** |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc. 5.75%, 5/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 509000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489317 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc. 3.75%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110860 |
| &nbsp;&nbsp;&nbsp; HAT Holdings I LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 6/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 9/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165847 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 811000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2028 (a) | &nbsp;&nbsp; 1381000 | &nbsp;&nbsp;&nbsp;&nbsp; 1255861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/15/2029 (a) | &nbsp;&nbsp; 1661000 | &nbsp;&nbsp;&nbsp;&nbsp; 1460471 |
| &nbsp;&nbsp;&nbsp; iStar, Inc. 4.75%, 10/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 541000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532266 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP 4.63%, 8/1/2029 | &nbsp;&nbsp; 1633000 | &nbsp;&nbsp;&nbsp;&nbsp; 1284322 |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC 5.88%, 10/1/2028 (a) | &nbsp;&nbsp; 1792000 | &nbsp;&nbsp;&nbsp;&nbsp; 1659517 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP 4.75%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 986000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900659 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 518000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432456 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Equity Real Estate Investment Trusts (REITs) — continued** | **Equity Real Estate Investment Trusts (REITs) — continued** | **Equity Real Estate Investment Trusts (REITs) — continued** |
| &nbsp;&nbsp;&nbsp; Service Properties Trust 7.50%, 9/15/2025 | 416000 | 402480 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 2/15/2025 (a) | 905000 | 908804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2029 (a) | 687000 | 503227 |
|  |  | &nbsp;&nbsp; 11620661 |
| **Food & Staples Retailing — 1.0%** | **Food & Staples Retailing — 1.0%** | **Food & Staples Retailing — 1.0%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2027 (a) | 784000 | 725271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2028 (a) | 695000 | 664573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/15/2030 (a) | 539000 | 480917 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. 5.50%, 10/15/2027 (a) | 1068000 | 1030620 |
| &nbsp;&nbsp;&nbsp; Rite Aid Corp. 8.00%, 11/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 713000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443621 |
| &nbsp;&nbsp;&nbsp; US Foods, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 432000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 598000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532890 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4313927 |
| **Food Products — 1.0%** | **Food Products — 1.0%** | **Food Products — 1.0%** |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. 5.25%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 441000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354740 |
| &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 338000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329614 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. 4.88%, 5/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 962000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906791 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. 5.50%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp; 2485000 | &nbsp;&nbsp;&nbsp;&nbsp; 2282386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4055487 |
| **Gas Utilities — 0.4%** | **Gas Utilities — 0.4%** | **Gas Utilities — 0.4%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP 5.88%, 8/20/2026 | &nbsp;&nbsp;&nbsp; 1374000 | &nbsp;&nbsp;&nbsp;&nbsp; 1308735 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP 5.00%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276212 |
| &nbsp;&nbsp;&nbsp; Superior Plus LP (Canada) 4.50%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251061 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1836008 |
| **Health Care Equipment & Supplies — 0.9%** | **Health Care Equipment & Supplies — 0.9%** | **Health Care Equipment & Supplies — 0.9%** |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. 4.63%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 818800 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc. 3.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446334 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp; 1727000 | &nbsp;&nbsp;&nbsp;&nbsp; 1484806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 957000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 779955 |
| &nbsp;&nbsp;&nbsp; Teleflex, Inc. 4.25%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3833514 |
| **Health Care Providers & Services — 3.7%** | **Health Care Providers & Services — 3.7%** | **Health Care Providers & Services — 3.7%** |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc. 5.50%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 328000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308377 |
| &nbsp;&nbsp;&nbsp; AdaptHealth LLC 6.13%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381213 |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 692000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp; 2068000 | &nbsp;&nbsp;&nbsp;&nbsp; 1755298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp; 1115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 596525 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** | **Health Care Providers & Services — continued** |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2030 (a) | 1256000 | 1016707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | 388000 | 285180 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2028 | 525000 | 472109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2030 | 416000 | 369200 |
| &nbsp;&nbsp;&nbsp; Envision Healthcare Corp. 8.75%, 10/15/2026 (a) | 229000 | 66410 |
| &nbsp;&nbsp;&nbsp; Global Medical Response, Inc. 6.50%, 10/1/2025 (a) | 230000 | 173093 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. 4.50%, 10/1/2029 (a) | 169000 | 148061 |
| &nbsp;&nbsp;&nbsp; Legacy LifePoint Health LLC 4.38%, 2/15/2027 (a) | 399000 | 330754 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. 4.38%, 6/15/2028 (a) | 825000 | 757003 |
| &nbsp;&nbsp;&nbsp; Owens & Minor, Inc. 6.63%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 528000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469218 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. 5.38%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110539 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc. 9.25%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136913 |
| &nbsp;&nbsp;&nbsp; RegionalCare Hospital Partners Holdings, Inc. 9.75%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 554000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445992 |
| &nbsp;&nbsp;&nbsp; RP Escrow Issuer LLC 5.25%, 12/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230267 |
| &nbsp;&nbsp;&nbsp; Select Medical Corp. 6.25%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316490 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc. 6.75%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276042 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp; 1018000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp; 3556000 | &nbsp;&nbsp;&nbsp;&nbsp; 3347583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 967000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354375 |
|  |  | &nbsp;&nbsp; 15538224 |
| **Health Care Technology — 0.2%** | **Health Care Technology — 0.2%** | **Health Care Technology — 0.2%** |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc. 5.00%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770000 |
| **Hotels, Restaurants & Leisure — 9.9%** | **Hotels, Restaurants & Leisure — 9.9%** | **Hotels, Restaurants & Leisure — 9.9%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp; 1497000 | &nbsp;&nbsp;&nbsp;&nbsp; 1336054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp; 1001000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910800 |
| &nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. 5.13%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164071 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. 4.75%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 776000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721680 |
| &nbsp;&nbsp;&nbsp; Boyne USA, Inc. 4.75%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 279000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248288 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 7/1/2027 (a) | &nbsp;&nbsp;&nbsp; 1408000 | &nbsp;&nbsp;&nbsp;&nbsp; 1413350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695125 |
| &nbsp;&nbsp;&nbsp; Caesars Resort Collection LLC 5.75%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 407000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402057 |
| &nbsp;&nbsp;&nbsp; Carnival Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 3/1/2026 (a) | &nbsp;&nbsp;&nbsp; 2067000 | &nbsp;&nbsp;&nbsp;&nbsp; 1741447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp; 1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 869994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 8/1/2027 (a) | &nbsp;&nbsp;&nbsp; 2311000 | &nbsp;&nbsp;&nbsp;&nbsp; 2255709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422910 |
| &nbsp;&nbsp;&nbsp; CCM Merger, Inc. 6.38%, 5/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125899 |
| &nbsp;&nbsp;&nbsp; CDI Escrow Issuer, Inc. 5.75%, 4/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 471000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436914 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** |
| &nbsp;&nbsp;&nbsp; Cedar Fair LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/1/2025 (a) | 605000 | 603076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2029 | 410000 | 358167 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. 5.50%, 4/1/2027 (a) | 313000 | 297677 |
| &nbsp;&nbsp;&nbsp; Everi Holdings, Inc. 5.00%, 7/15/2029 (a) | 136000 | 117821 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC 4.63%, 1/15/2029 (a) | 303000 | 267519 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc. 4.88%, 1/15/2030 | 1428000 | 1321471 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower Escrow LLC 5.00%, 6/1/2029 (a) | 416000 | 360227 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Finance LLC 4.88%, 4/1/2027 | 1013000 | 974374 |
| &nbsp;&nbsp;&nbsp; International Game Technology plc  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2025 (a) | 631000 | 634245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565038 |
| &nbsp;&nbsp;&nbsp; IRB Holding Corp. 7.00%, 6/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 409000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410104 |
| &nbsp;&nbsp;&nbsp; Jacobs Entertainment, Inc. 6.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181800 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. 2.90%, 6/25/2025 | &nbsp;&nbsp;&nbsp; 1012000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 934458 |
| &nbsp;&nbsp;&nbsp; Life Time, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171579 |
| &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305276 |
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd. (Hong Kong) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/6/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/21/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 611250 |
| &nbsp;&nbsp;&nbsp; MGM China Holdings Ltd. (Macau) 5.88%, 5/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734000 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 6/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 736000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 736000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679002 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC 4.88%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271142 |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 754000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263538 |
| &nbsp;&nbsp;&nbsp; Papa John's International, Inc. 3.88%, 9/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193823 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc. 4.13%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306440 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC 5.63%, 9/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338400 |
| &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC 4.63%, 4/16/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204000 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 6/1/2025 (a) | &nbsp;&nbsp;&nbsp; 1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1426425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/31/2026 (a) | &nbsp;&nbsp;&nbsp; 2354000 | &nbsp;&nbsp;&nbsp;&nbsp; 2042095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.63%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406890 |
| &nbsp;&nbsp;&nbsp; Sands China Ltd. (Macau) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/8/2025 (d) | &nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 955000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 8/8/2028 (d) | &nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 922500 |
| &nbsp;&nbsp;&nbsp; Scientific Games International, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 429000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563145 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. 5.50%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375623 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** |
| &nbsp;&nbsp;&nbsp; Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (a) | 405000 | 406003 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC 4.50%, 2/15/2028 (a) | 494000 | 435723 |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/31/2026 (a) | 307000 | 300813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/1/2027 (d) | 511000 | 479145 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. 6.25%, 5/15/2025 (a) | 235000 | 234756 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd. 5.88%, 9/15/2027 (a) | 515000 | 431956 |
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd. 5.00%, 2/15/2028 (a) | 592000 | 510233 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. 4.38%, 8/15/2028 (a) | 214000 | 191372 |
| &nbsp;&nbsp;&nbsp; Wynn Las Vegas LLC 5.50%, 3/1/2025 (a) | 1120000 | 1075122 |
| &nbsp;&nbsp;&nbsp; Wynn Macau Ltd. (Macau) 5.63%, 8/26/2028 (a) | 1300000 | 1079000 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC 5.13%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 659000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 572742 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp; 2338000 | &nbsp;&nbsp;&nbsp;&nbsp; 2139270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407187 |
|  |  | &nbsp;&nbsp; 41153331 |
| **Household Durables — 1.2%** | **Household Durables — 1.2%** | **Household Durables — 1.2%** |
| &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc. 5.88%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246468 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc. (Canada) 6.25%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370232 |
| &nbsp;&nbsp;&nbsp; CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 273000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241946 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. 3.88%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261468 |
| &nbsp;&nbsp;&nbsp; KB Home 4.80%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 402000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347730 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. 4.95%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201834 |
| &nbsp;&nbsp;&nbsp; Mattamy Group Corp. (Canada) 5.25%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280886 |
| &nbsp;&nbsp;&nbsp; Meritage Homes Corp. 5.13%, 6/6/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308070 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 4/1/2026 (d) | &nbsp;&nbsp;&nbsp; 1187000 | &nbsp;&nbsp;&nbsp;&nbsp; 1119768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/1/2046 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254100 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc. 5.88%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 554000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 530060 |
| &nbsp;&nbsp;&nbsp; Tempur Sealy International, Inc. 4.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497444 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. 5.70%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291391 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4951397 |
| **Household Products — 0.3%** | **Household Products — 0.3%** | **Household Products — 0.3%** |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145688 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. 4.75%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 596000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519676 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands, Inc. 5.50%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 622000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532668 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1411172 |
| **Independent Power and Renewable Electricity Producers — 0.5%** | **Independent Power and Renewable Electricity Producers — 0.5%** | **Independent Power and Renewable Electricity Producers — 0.5%** |
| &nbsp;&nbsp;&nbsp; Calpine Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp; 1231000 | &nbsp;&nbsp;&nbsp;&nbsp; 1126061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378860 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Independent Power and Renewable Electricity Producers — continued** | **Independent Power and Renewable Electricity Producers — continued** | **Independent Power and Renewable Electricity Producers — continued** |
| &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/15/2028 (a) | 245000 | 226322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | 423000 | 358362 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2089605 |
| **Insurance — 0.9%** | **Insurance — 0.9%** | **Insurance — 0.9%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/2027 (a) | 323000 | 290700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2027 (a) | 603000 | 555420 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc. 4.88%, 6/30/2029 (a) | 314000 | 271338 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/1/2026 (a) | 603000 | 597006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140976 |
| &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc. 4.30%, 2/1/2061 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 659000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386148 |
| &nbsp;&nbsp;&nbsp; NFP Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 752000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636064 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty Group LLC 4.38%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140220 |
| &nbsp;&nbsp;&nbsp; USI, Inc. 6.88%, 5/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3581206 |
| **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; TripAdvisor, Inc. 7.00%, 7/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229127 |
| **Internet & Direct Marketing Retail — 0.5%** | **Internet & Direct Marketing Retail — 0.5%** | **Internet & Direct Marketing Retail — 0.5%** |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC 3.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184056 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 176000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148734 |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC 4.63%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 667000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 596564 |
| &nbsp;&nbsp;&nbsp; Millennium Escrow Corp. 6.63%, 8/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226080 |
| &nbsp;&nbsp;&nbsp; Photo Holdings Merger Sub, Inc. 8.50%, 10/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140333 |
| &nbsp;&nbsp;&nbsp; QVC, Inc. 4.75%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 908000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681604 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2198192 |
| **IT Services — 1.1%** | **IT Services — 1.1%** | **IT Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Ahead DB Holdings LLC 6.63%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183829 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186433 |
| &nbsp;&nbsp;&nbsp; Black Knight InfoServ LLC 3.63%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286000 |
| &nbsp;&nbsp;&nbsp; Block, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 6/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426043 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 557000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501991 |
| &nbsp;&nbsp;&nbsp; Cablevision Lightpath LLC 3.88%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215545 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Group, Inc. 3.50%, 5/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 284000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256850 |
| &nbsp;&nbsp;&nbsp; Conduent Business Services LLC 6.00%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200900 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc. 4.50%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 697000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656170 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **IT Services — continued** | **IT Services — continued** | **IT Services — continued** |
| &nbsp;&nbsp;&nbsp; Northwest Fiber LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/30/2027 (a) | 129000 | 114172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 6/1/2028 (a) | 136000 | 127840 |
| &nbsp;&nbsp;&nbsp; Presidio Holdings, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/1/2027 (a) | 302000 | 281835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 2/1/2028 (a) | 308000 | 275650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4499952 |
| **Leisure Products — 0.2%** | **Leisure Products — 0.2%** | **Leisure Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/15/2027 (a) | 324000 | 316820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 4/1/2029 (a) | 190000 | 166377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 219000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172463 |
| &nbsp;&nbsp;&nbsp; Vista Outdoor, Inc. 4.50%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 798540 |
| **Life Sciences Tools & Services — 0.2%** | **Life Sciences Tools & Services — 0.2%** | **Life Sciences Tools & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc. 3.75%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 516000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448982 |
| &nbsp;&nbsp;&nbsp; Syneos Health, Inc. 3.63%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234024 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683006 |
| **Machinery — 0.5%** | **Machinery — 0.5%** | **Machinery — 0.5%** |
| &nbsp;&nbsp;&nbsp; EnPro Industries, Inc. 5.75%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184536 |
| &nbsp;&nbsp;&nbsp; Hillenbrand, Inc. 3.75%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 512000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416000 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc. 4.00%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210741 |
| &nbsp;&nbsp;&nbsp; Roller Bearing Co. of America, Inc. 4.38%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166392 |
| &nbsp;&nbsp;&nbsp; Stevens Holding Co., Inc. 6.13%, 10/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191598 |
| &nbsp;&nbsp;&nbsp; Terex Corp. 5.00%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209772 |
| &nbsp;&nbsp;&nbsp; TK Elevator US Newco, Inc. (Germany) 5.25%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 726016 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. 4.50%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 182000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153895 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2258950 |
| **Media — 7.0%** | **Media — 7.0%** | **Media — 7.0%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA (Luxembourg) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204440 |
| &nbsp;&nbsp;&nbsp; AMC Networks, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99134 |
| &nbsp;&nbsp;&nbsp; Audacy Capital Corp. 6.50%, 5/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68514 |
| &nbsp;&nbsp;&nbsp; Block Communications, Inc. 4.88%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115852 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. 4.00%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204650 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 599000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 934000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693495 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2028 (a) | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 856801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/1/2029 (a) | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2004904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2030 (a) | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 919350 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Media — continued** | **Media — continued** | **Media — continued** |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC 5.88%, 8/15/2027 (a) | 1402000 | 1286447 |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2024 | 2030000 | 1929028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 7/1/2026 | 538000 | 450629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2026 (a) | 758000 | 650743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2028 (a) | 684000 | 554758 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. 11.75%, 11/15/2027 (a) | 628000 | 645477 |
| &nbsp;&nbsp;&nbsp; Gannett Holdings LLC 6.00%, 11/1/2026 (a) | 190000 | 151052 |
| &nbsp;&nbsp;&nbsp; GCI LLC 4.75%, 10/15/2028 (a) | 186000 | 159352 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/15/2027 (a) | 681000 | 625785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688098 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 918417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 868646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 573864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510739 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201707 |
| &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC 6.75%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 638000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 603503 |
| &nbsp;&nbsp;&nbsp; Liberty Interactive LLC 8.25%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153500 |
| &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196857 |
| &nbsp;&nbsp;&nbsp; National CineMedia LLC 5.88%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57364 |
| &nbsp;&nbsp;&nbsp; News Corp. 3.88%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 658000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584797 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 820340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319481 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126920 |
| &nbsp;&nbsp;&nbsp; Paramount Global (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.00%), 6.37%, 3/30/2062 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344044 |
| &nbsp;&nbsp;&nbsp; Radiate Holdco LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113877 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc. 3.88%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145419 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow, Inc. 5.88%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375580 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177899 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 816585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp; 1722000 | &nbsp;&nbsp;&nbsp;&nbsp; 1603354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 664000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560296 |
| &nbsp;&nbsp;&nbsp; Stagwell Global LLC 5.63%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 421000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361008 |
| &nbsp;&nbsp;&nbsp; Summer BC Bidco B LLC 5.50%, 10/31/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281750 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. 5.00%, 9/15/2029 | &nbsp;&nbsp;&nbsp; 1010000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 944387 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Media — continued** | **Media — continued** | **Media — continued** |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/15/2025 (a) | 726000 | 700590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/1/2027 (a) | 412000 | 401507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/1/2029 (a) | 756000 | 643545 |
| &nbsp;&nbsp;&nbsp; UPC Broadband Finco BV (Netherlands) 4.88%, 7/15/2031 (a) | 500000 | 427558 |
| &nbsp;&nbsp;&nbsp; Urban One, Inc. 7.38%, 2/1/2028 (a) | 230000 | 194350 |
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes IV DAC (United Kingdom) 5.00%, 7/15/2028 (a) | 550000 | 471493 |
| &nbsp;&nbsp;&nbsp; Ziggo Bond Co. BV (Netherlands) 5.13%, 2/28/2030 (a) | 1000000 | 811270 |
|  |  | &nbsp;&nbsp; 29353526 |
| **Metals & Mining — 2.0%** | **Metals & Mining — 2.0%** | **Metals & Mining — 2.0%** |
| &nbsp;&nbsp;&nbsp; Arconic Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 619000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 581210 |
| &nbsp;&nbsp;&nbsp; ATI, Inc. 5.88%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 736304 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC 6.63%, 1/31/2029 (a) | &nbsp;&nbsp;&nbsp; 1182000 | &nbsp;&nbsp;&nbsp;&nbsp; 1135562 |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. 6.38%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 494000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466149 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280202 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. 4.13%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246116 |
| &nbsp;&nbsp;&nbsp; Constellium SE 5.63%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320058 |
| &nbsp;&nbsp;&nbsp; FMG Resources August 2006 Pty. Ltd. (Australia) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp; 1049000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147975 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189139 |
| &nbsp;&nbsp;&nbsp; Novelis Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/30/2030 (a) | &nbsp;&nbsp;&nbsp; 1968000 | &nbsp;&nbsp;&nbsp;&nbsp; 1749745 |
| &nbsp;&nbsp;&nbsp; United States Steel Corp. 6.88%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114122 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8370949 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.1%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.1%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.1%** |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. 3.63%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 692000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617360 |
| **Multiline Retail — 0.5%** | **Multiline Retail — 0.5%** | **Multiline Retail — 0.5%** |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC 5.88%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 673000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625991 |
| &nbsp;&nbsp;&nbsp; NMG Holding Co., Inc. 7.13%, 4/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 622000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598961 |
| &nbsp;&nbsp;&nbsp; Nordstrom, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 619000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213180 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1935155 |
| **Oil, Gas & Consumable Fuels — 11.0%** | **Oil, Gas & Consumable Fuels — 11.0%** | **Oil, Gas & Consumable Fuels — 11.0%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP 8.25%, 2/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 246000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244751 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (a) | 781000 | 745783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 (a) | 877000 | 828765 |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. 8.38%, 7/15/2026 (a) | 485000 | 510200 |
| &nbsp;&nbsp;&nbsp; Apache Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2030 | 817000 | 734205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 9/1/2040 | 633000 | 520643 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC 7.00%, 11/1/2026 (a) | 500000 | 490125 |
| &nbsp;&nbsp;&nbsp; Baytex Energy Corp. (Canada) 8.75%, 4/1/2027 (a) | 170000 | 175265 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC 7.63%, 12/15/2025 (a) | 464000 | 468215 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 628000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 973000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863537 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. 7.13%, 2/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314118 |
| &nbsp;&nbsp;&nbsp; Callon Petroleum Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264776 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP 4.50%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 732000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 671976 |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 2/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 772000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510494 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. 6.38%, 6/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179860 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 3/14/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 387000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387209 |
| &nbsp;&nbsp;&nbsp; Colgate Energy Partners III LLC 7.75%, 2/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273605 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. 6.75%, 3/1/2029 (a) | &nbsp;&nbsp; 1135000 | &nbsp;&nbsp;&nbsp;&nbsp; 1108498 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP 5.50%, 6/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 458790 |
| &nbsp;&nbsp;&nbsp; Crestwood Midstream Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 5/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326430 |
| &nbsp;&nbsp;&nbsp; CrownRock LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297370 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. 4.13%, 6/15/2029 (a) | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 991237 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC 8.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401910 |
| &nbsp;&nbsp;&nbsp; Endeavor Energy Resources LP 5.75%, 1/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320849 |
| &nbsp;&nbsp;&nbsp; EnLink Midstream LLC 5.38%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 664000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632460 |
| &nbsp;&nbsp;&nbsp; EnLink Midstream Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 6/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 407000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329670 |
| &nbsp;&nbsp;&nbsp; EQM Midstream Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 461000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/15/2028 | &nbsp;&nbsp; 2610000 | &nbsp;&nbsp;&nbsp;&nbsp; 2418374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384231 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2025 | 531000 | 511167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 1/15/2027 | 968000 | 923870 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. 8.00%, 5/17/2026 | 295999 | 295043 |
| &nbsp;&nbsp;&nbsp; Hess Infrastructure Partners LP 5.63%, 2/15/2026 (a) | 25000 | 24575 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2026 (a) | 173000 | 170057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/15/2028 (a) | 1100000 | 1035606 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/1/2028 (a) | 696000 | 662809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/1/2031 (a) | 755000 | 693717 |
| &nbsp;&nbsp;&nbsp; Holly Energy Partners LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241458 |
| &nbsp;&nbsp;&nbsp; ITT Holdings LLC 6.50%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307251 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP 5.88%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 556000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522479 |
| &nbsp;&nbsp;&nbsp; Laredo Petroleum, Inc. 10.13%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420930 |
| &nbsp;&nbsp;&nbsp; MEG Energy Corp. (Canada) 5.88%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307476 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/1/2042 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183368 |
| &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc. 6.75%, 9/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 876000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 855615 |
| &nbsp;&nbsp;&nbsp; NuStar Logistics LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 4/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 893000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839743 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/1/2025 | &nbsp;&nbsp;&nbsp; 1184000 | &nbsp;&nbsp;&nbsp;&nbsp; 1194804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 717000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 821861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 9/15/2036 | &nbsp;&nbsp;&nbsp; 3486000 | &nbsp;&nbsp;&nbsp;&nbsp; 3494715 |
| &nbsp;&nbsp;&nbsp; PDC Energy, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181482 |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC 6.88%, 4/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208013 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. 8.25%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 613000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639525 |
| &nbsp;&nbsp;&nbsp; Rockcliff Energy II LLC 5.50%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211943 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 409000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 582000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134460 |
| &nbsp;&nbsp;&nbsp; SM Energy Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 441000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432180 |
| &nbsp;&nbsp;&nbsp; Southwestern Energy Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/15/2030 | &nbsp;&nbsp;&nbsp; 1704000 | &nbsp;&nbsp;&nbsp;&nbsp; 1602101 |
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC 8.50%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375273 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Sunoco LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2027 | 663000 | 653642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/30/2030 | 726000 | 629885 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP 5.50%, 1/15/2028 (a) | 2021000 | 1834057 |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC 5.00%, 1/31/2028 (a) | 378000 | 350595 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC 3.88%, 8/15/2029 (a) | 1156000 | 998495 |
| &nbsp;&nbsp;&nbsp; Viper Energy Partners LP 5.38%, 11/1/2027 (a) | 190000 | 180083 |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 8/15/2028 | 1294000 | 1196950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 4/1/2044 | 692000 | 568575 |
|  |  | &nbsp;&nbsp; 46040877 |
| **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Glatfelter Corp. 4.75%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123975 |
| &nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp. 3.63%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158182 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282157 |
| **Personal Products — 0.4%** | **Personal Products — 0.4%** | **Personal Products — 0.4%** |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. 7.00%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357453 |
| &nbsp;&nbsp;&nbsp; Coty, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129880 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. 5.50%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399526 |
| &nbsp;&nbsp;&nbsp; Herbalife Nutrition Ltd. 7.88%, 9/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284987 |
| &nbsp;&nbsp;&nbsp; Prestige Brands, Inc. 5.13%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1853546 |
| **Pharmaceuticals — 1.8%** | **Pharmaceuticals — 1.8%** | **Pharmaceuticals — 1.8%** |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/1/2025 (a) | &nbsp;&nbsp;&nbsp; 1241000 | &nbsp;&nbsp;&nbsp;&nbsp; 1048508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp; 1241000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 806454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/30/2028 (a) | &nbsp;&nbsp;&nbsp; 2982000 | &nbsp;&nbsp;&nbsp;&nbsp; 1220442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/30/2030 (a) | &nbsp;&nbsp;&nbsp; 2514000 | &nbsp;&nbsp;&nbsp;&nbsp; 1046912 |
| &nbsp;&nbsp;&nbsp; Catalent Pharma Solutions, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 222000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181485 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc. 6.40%, 8/28/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214259 |
| &nbsp;&nbsp;&nbsp; Jazz Securities DAC 4.38%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408384 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt International Finance SA 11.50%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383363 |
| &nbsp;&nbsp;&nbsp; Organon & Co.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/30/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554631 |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. 4.40%, 6/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7571905 |
| **Professional Services — 0.2%** | **Professional Services — 0.2%** | **Professional Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; AMN Healthcare, Inc. 4.63%, 10/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 279000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257925 |
| &nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp. (The) 5.00%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184115 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. 4.88%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208202 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650242 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** |
| &nbsp;&nbsp;&nbsp; Forestar Group, Inc. 5.00%, 3/1/2028 (a) | 202000 | 172205 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc. 4.75%, 3/1/2029 | 603000 | 489485 |
| &nbsp;&nbsp;&nbsp; Realogy Group LLC 5.75%, 1/15/2029 (a) | 586000 | 448243 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1109933 |
| **Road & Rail — 1.1%** | **Road & Rail — 1.1%** | **Road & Rail — 1.1%** |
| &nbsp;&nbsp;&nbsp; AerCap Global Aviation Trust (Ireland) (ICE LIBOR USD 3 Month + 4.30%), 6.50%, 6/15/2045 (a) (c) | 300000 | 277113 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2027 (a) | 678000 | 627088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2029 (a) | 245000 | 215710 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc. 4.00%, 7/31/2029 (a) | 511000 | 424130 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The)  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334891 |
| &nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc. 5.50%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 509000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447772 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 836000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 836000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727759 |
| &nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc. 4.63%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293672 |
| &nbsp;&nbsp;&nbsp; XPO Escrow Sub LLC 7.50%, 11/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 312000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316680 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4790525 |
| **Semiconductors & Semiconductor Equipment — 0.4%** | **Semiconductors & Semiconductor Equipment — 0.4%** | **Semiconductors & Semiconductor Equipment — 0.4%** |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. 6.63%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 284000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282575 |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG (Austria) 7.00%, 7/31/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183789 |
| &nbsp;&nbsp;&nbsp; Entegris Escrow Corp. 5.95%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560429 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. 4.38%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303989 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305908 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. 4.00%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158310 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1795000 |
| **Software — 1.7%** | **Software — 1.7%** | **Software — 1.7%** |
| &nbsp;&nbsp;&nbsp; ACI Worldwide, Inc. 5.75%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204370 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc. 6.50%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 722000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540707 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 584000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 654000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559987 |
| &nbsp;&nbsp;&nbsp; Elastic NV 4.13%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165838 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 417000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213195 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 538310 |
| &nbsp;&nbsp;&nbsp; GoTo Group, Inc. 5.50%, 9/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143325 |
| &nbsp;&nbsp;&nbsp; NCR Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/1/2029 (a) | &nbsp;&nbsp; 1244000 | &nbsp;&nbsp;&nbsp;&nbsp; 1206680 |
| &nbsp;&nbsp;&nbsp; Open Text Corp. (Canada) 3.88%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188089 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Software — continued** | **Software — continued** | **Software — continued** |
| &nbsp;&nbsp;&nbsp; Open Text Holdings, Inc. (Canada) 4.13%, 2/15/2030 (a) | 843000 | 682653 |
| &nbsp;&nbsp;&nbsp; PTC, Inc. 4.00%, 2/15/2028 (a) | 323000 | 294754 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc. 5.50%, 9/30/2027 (a) | 668000 | 638452 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC 3.88%, 2/1/2029 (a) | 194000 | 163866 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7103931 |
| **Specialty Retail — 2.3%** | **Specialty Retail — 2.3%** | **Specialty Retail — 2.3%** |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Management Co. 8.75%, 7/15/2025 (a) | 133000 | 132335 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 | 423000 | 382692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029 (a) | 528000 | 460680 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 832768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/1/2035 | &nbsp;&nbsp; 1074000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 971970 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. (The) 3.63%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 729000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560051 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. 4.00%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196794 |
| &nbsp;&nbsp;&nbsp; Ken Garff Automotive LLC 4.88%, 9/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112545 |
| &nbsp;&nbsp;&nbsp; LCM Investments Holdings II LLC 4.88%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 329000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275077 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422856 |
| &nbsp;&nbsp;&nbsp; LSF9 Atlantis Holdings LLC 7.75%, 2/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279636 |
| &nbsp;&nbsp;&nbsp; Michaels Cos., Inc. (The)  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168506 |
| &nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc. 5.63%, 5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400629 |
| &nbsp;&nbsp;&nbsp; Park River Holdings, Inc. 5.63%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158340 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. 3.75%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270112 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 601250 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. 4.63%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 352000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290400 |
| &nbsp;&nbsp;&nbsp; SRS Distribution, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 501000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415539 |
| &nbsp;&nbsp;&nbsp; Staples, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2026 (a) | &nbsp;&nbsp; 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 945663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 4/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361899 |
| &nbsp;&nbsp;&nbsp; White Cap Buyer LLC 6.88%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9623069 |
| **Technology Hardware, Storage & Peripherals — 0.6%** | **Technology Hardware, Storage & Peripherals — 0.6%** | **Technology Hardware, Storage & Peripherals — 0.6%** |
| &nbsp;&nbsp;&nbsp; Seagate HDD Cayman  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2027 | &nbsp;&nbsp; 1145000 | &nbsp;&nbsp;&nbsp;&nbsp; 1071805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 966000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 755228 |
| &nbsp;&nbsp;&nbsp; Xerox Corp. 6.75%, 12/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 304000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233950 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Technology Hardware, Storage & Peripherals — continued** | **Technology Hardware, Storage & Peripherals — continued** | **Technology Hardware, Storage & Peripherals — continued** |
| &nbsp;&nbsp;&nbsp; Xerox Holdings Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/15/2025 (a) | 279000 | 259439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2028 (a) | 162000 | 130378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2450800 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |
| &nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. 7.88%, 8/15/2025 (a) | 111000 | 107531 |
| &nbsp;&nbsp;&nbsp; Hanesbrands, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/15/2024 (a) | 315000 | 305550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/15/2026 (a) | 285000 | 259350 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. 4.13%, 11/15/2029 (a) | 133000 | 108302 |
| &nbsp;&nbsp;&nbsp; Under Armour, Inc. 3.25%, 6/15/2026 | 190000 | 167200 |
| &nbsp;&nbsp;&nbsp; William Carter Co. (The) 5.63%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210979 |
| &nbsp;&nbsp;&nbsp; Wolverine World Wide, Inc. 4.00%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1299512 |
| **Thrifts & Mortgage Finance — 1.7%** | **Thrifts & Mortgage Finance — 1.7%** | **Thrifts & Mortgage Finance — 1.7%** |
| &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP 4.25%, 2/1/2027 (a) | &nbsp;&nbsp; 1526000 | &nbsp;&nbsp;&nbsp;&nbsp; 1331435 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. 5.25%, 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294809 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc. 5.50%, 8/15/2028 (a) | &nbsp;&nbsp; 2185000 | &nbsp;&nbsp;&nbsp;&nbsp; 1832290 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc. 7.38%, 6/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164881 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. 5.75%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 637000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509421 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/2026 (a) | &nbsp;&nbsp; 1989000 | &nbsp;&nbsp;&nbsp;&nbsp; 1696139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/1/2031 (a) | &nbsp;&nbsp; 1139000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 881068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7151043 |
| **Tobacco — 0.1%** | **Tobacco — 0.1%** | **Tobacco — 0.1%** |
| &nbsp;&nbsp;&nbsp; Vector Group Ltd. 5.75%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356114 |
| **Trading Companies & Distributors — 1.6%** | **Trading Companies & Distributors — 1.6%** | **Trading Companies & Distributors — 1.6%** |
| &nbsp;&nbsp;&nbsp; Beacon Roofing Supply, Inc. 4.50%, 11/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 292000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269362 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. 4.88%, 7/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140739 |
| &nbsp;&nbsp;&nbsp; Fortress Transportation and Infrastructure Investors LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404564 |
| &nbsp;&nbsp;&nbsp; H&E Equipment Services, Inc. 3.88%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 659000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 569897 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. 5.50%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 593000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560521 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. 4.75%, 5/15/2029 (a) | &nbsp;&nbsp; 1192000 | &nbsp;&nbsp;&nbsp;&nbsp; 1063860 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2028 | &nbsp;&nbsp; 1160000 | &nbsp;&nbsp;&nbsp;&nbsp; 1112510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/2030 | &nbsp;&nbsp; 1286000 | &nbsp;&nbsp;&nbsp;&nbsp; 1212055 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 861092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6849577 |
| **Wireless Telecommunication Services — 0.8%** | **Wireless Telecommunication Services — 0.8%** | **Wireless Telecommunication Services — 0.8%** |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL (United Kingdom) 6.75%, 10/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661500 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Wireless Telecommunication Services — continued** | **Wireless Telecommunication Services — continued** | **Wireless Telecommunication Services — continued** |
| &nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp.  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/1/2026 | 159000 | 151777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 8/1/2026 | 424000 | 394178 |
| &nbsp;&nbsp;&nbsp; Sprint LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/15/2024 | 685000 | 699510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 3/1/2026 | 208000 | 218760 |
| &nbsp;&nbsp;&nbsp; United States Cellular Corp. 6.70%, 12/15/2033 | 131000 | 114595 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc (United Kingdom) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 4.87%), 7.00%, 4/4/2079 (c) | 876000 | 872680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.07%), 5.12%, 6/4/2081 (c) | 249000 | 177622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3290622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $448,249,053)<br>|  | 400535591 |
|  | **SHARES** |  |
| **Short-Term Investments — 2.4%** | **Short-Term Investments — 2.4%** | **Short-Term Investments — 2.4%** |
| **Investment Companies — 2.4%** | **Investment Companies — 2.4%** | **Investment Companies — 2.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.59% (e) (f) <br>(Cost $10,153,299)<br>| 10153299 | &nbsp;&nbsp; 10153299 |
| **Total Investments — 98.4%** <br>**(Cost $458,402,352)**<br>|  | **410688890** |
| **Other Assets Less Liabilities — 1.6%** |  | **6511520** |
| **NET ASSETS — 100.0%** |  | **417200410** |

---

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

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

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ICE | Intercontinental Exchange |
| LIBOR | London Interbank Offered Rate |
| OYJ | Public Limited Company |
| SCA | Limited partnership with share capital |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| (a) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (b) | Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed. |
| (c) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of November 30, 2022. |
| (d) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a <br> predetermined trigger. The interest rate shown is the current rate as of November 30, 2022. <br>|
| (e) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan <br> Investment Management Inc.<br>|
| (f) | The rate shown is the current yield as of November 30, 2022. |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

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

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

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

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

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

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

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Corporate Bonds | $— | $400535591 | $— | $400535591 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 10153299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10153299 |
| **Total Investments in Securities** | $10153299 | $400535591 | $— | $410688890 |

---

------

**JPMorgan High Yield Research Enhanced ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

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

**B. Investment Transactions with Affiliates** — The Fund invested in an Underlying Fund, which is advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2022**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**November 30,** <br>**2022**<br>| **Shares at** <br>**November 30,** <br>**2022**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government <br> Money Market Fund Class IM <br> Shares, 3.59% (a) (b)<br>| $20697667 | $237299075 | $247843443 | $— | $— | $10153299 | 10153299 | $105885 | $— |

---

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

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of November 30, 2022.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 277 Park Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan High Yield Research Enhanced ETF

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

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

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $417273523.41

**Total Liabilities:** $78423.67

**Net Assets:** $417195099.74

**Cash Not Reported:** $90474.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 379.12651000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 11920.14608000 | **5-Year:** 136146.60989000 | **10-Year:** 18161.13669000 | **30-Year:** 2949.20751000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000171065 | -3.84%               | 2.94%                | 2.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3445005.19             | $-13542034.28                              |
| Month 2  | $-5233738.73             | $14394987.10                               |
| Month 3  | $-702231.60              | $7896966.91                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                     | Title                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Liberty Interactive LLC                                  | Liberty Interactive LLC                                  | CUSIP: 530715AJ0<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |    307000 | PA      | $153500.00    | 0.04%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                             | Royal Caribbean Cruises Ltd.                             | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   2354000 | PA      | $2042095.00   | 0.49%             | 2026-08-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Wynn Las Vegas LLC                                       | Wynn Las Vegas LLC                                       | CUSIP: 983130AV7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1075121.60   | 0.26%             | 2025-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Amkor Technology, Inc.                                   | Amkor Technology, Inc.                                   | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |    284000 | PA      | $282574.52    | 0.07%             | 2027-09-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                      | NuStar Logistics LP                                      | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    287000 | PA      | $278137.44    | 0.07%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LSB Industries, Inc.                                     | LSB Industries, Inc.                                     | CUSIP: 502160AN4<br>LEI: 5493001H215A0HG0MI71 | Long             | DBT              | CORP              | US        |    441000 | PA      | $411858.72    | 0.10%             | 2028-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| KAR Auction Services, Inc.                               | KAR Auction Services, Inc.                               | CUSIP: 48238TAA7<br>LEI: 5493004HKD20LBSG7D03 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58333.31     | 0.01%             | 2025-06-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Nordstrom, Inc.                                          | Nordstrom, Inc.                                          | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    619000 | PA      | $497022.96    | 0.12%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AMC Networks, Inc.                                       | AMC Networks, Inc.                                       | CUSIP: 00164VAD5<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    159000 | PA      | $151729.71    | 0.04%             | 2024-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                               | Garda World Security Corp.                               | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $211051.15    | 0.05%             | 2027-02-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                   | Sonic Automotive, Inc.                                   | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    352000 | PA      | $290400.00    | 0.07%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Owens & Minor, Inc.                                      | Owens & Minor, Inc.                                      | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |    528000 | PA      | $469217.76    | 0.11%             | 2030-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| QVC, Inc.                                                | QVC, Inc.                                                | CUSIP: 747262AY9<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    908000 | PA      | $681603.82    | 0.16%             | 2027-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GoTo Group, Inc.                                         | GoTo Group, Inc.                                         | CUSIP: 541056AA5<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |    245000 | PA      | $143324.94    | 0.03%             | 2027-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                           | DISH DBS Corp.                                           | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2030000 | PA      | $1929027.80   | 0.46%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                    | Delta Air Lines, Inc.                                    | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    517000 | PA      | $442660.57    | 0.11%             | 2029-10-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                      | Viking Cruises Ltd.                                      | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    515000 | PA      | $431956.25    | 0.10%             | 2027-09-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ciena Corp.                                              | Ciena Corp.                                              | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    190000 | PA      | $159362.50    | 0.04%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Crown Americas LLC                                       | Crown Americas LLC                                       | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382000 | PA      | $369932.62    | 0.09%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CVR Partners LP                                          | CVR Partners LP                                          | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    388000 | PA      | $350336.84    | 0.08%             | 2028-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Encino Acquisition Partners Holdings LLC                 | Encino Acquisition Partners Holdings LLC                 | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    420000 | PA      | $401910.46    | 0.10%             | 2028-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                    | Delta Air Lines, Inc.                                    | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    396000 | PA      | $409099.68    | 0.10%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Beacon Roofing Supply, Inc.                              | Beacon Roofing Supply, Inc.                              | CUSIP: 073685AF6<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    292000 | PA      | $269361.96    | 0.06%             | 2026-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                          | Permian Resources Operating LLC                          | CUSIP: 15138AAC4<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    215000 | PA      | $208012.50    | 0.05%             | 2027-04-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries Ltd.                                   | Nabors Industries Ltd.                                   | CUSIP: 629571AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    236000 | PA      | $226855.00    | 0.05%             | 2026-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                              | Allied Universal Holdco LLC                              | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    398000 | PA      | $359155.20    | 0.09%             | 2027-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                   | BWX Technologies, Inc.                                   | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    327000 | PA      | $291030.00    | 0.07%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                      | Nexstar Media, Inc.                                      | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    870000 | PA      | $820340.40    | 0.20%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                             | Trivium Packaging Finance BV                             | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $563802.00    | 0.14%             | 2026-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc.                                           | PetSmart, Inc.                                           | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $411133.50    | 0.10%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                      | Iron Mountain, Inc.                                      | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1381000 | PA      | $1255860.69   | 0.30%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Catalent Pharma Solutions, Inc.                          | Catalent Pharma Solutions, Inc.                          | CUSIP: 14879EAH1<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    222000 | PA      | $181485.00    | 0.04%             | 2029-02-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| CNX Resources Corp.                                      | CNX Resources Corp.                                      | CUSIP: 12653CAC2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29887.50     | 0.01%             | 2027-03-14      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PTC, Inc.                                                | PTC, Inc.                                                | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    323000 | PA      | $294753.65    | 0.07%             | 2028-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                           | Olympus Water US Holding Corp.                           | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    450000 | PA      | $364594.50    | 0.09%             | 2028-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                | Telecom Italia Capital SA                                | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    600000 | PA      | $492750.00    | 0.12%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                  | Chesapeake Energy Corp.                                  | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    515000 | PA      | $510493.75    | 0.12%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Transocean Pontus Ltd.                                   | Transocean Pontus Ltd.                                   | CUSIP: 89382PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    236880 | PA      | $229773.60    | 0.06%             | 2025-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                          | Sinclair Television Group, Inc.                          | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    320000 | PA      | $244800.00    | 0.06%             | 2030-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Cablevision Lightpath LLC                                | Cablevision Lightpath LLC                                | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    250000 | PA      | $215545.00    | 0.05%             | 2027-09-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                             | Ardagh Packaging Finance plc                             | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $378150.00    | 0.09%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Apache Corp.                                             | Apache Corp.                                             | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    633000 | PA      | $520642.50    | 0.12%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                       | United Rentals North America, Inc.                       | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1286000 | PA      | $1212055.00   | 0.29%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                     | Frontier Communications Holdings LLC                     | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    324000 | PA      | $335178.00    | 0.08%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Consolidated Communications, Inc.                        | Consolidated Communications, Inc.                        | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    324000 | PA      | $266587.20    | 0.06%             | 2028-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Beazer Homes USA, Inc.                                   | Beazer Homes USA, Inc.                                   | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    282000 | PA      | $246468.00    | 0.06%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                     | Kennedy-Wilson, Inc.                                     | CUSIP: 489399AL9<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    603000 | PA      | $489485.25    | 0.12%             | 2029-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GDA5<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3556000 | PA      | $3347582.84   | 0.80%             | 2027-11-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Dresdner Funding Trust I                                 | Dresdner Funding Trust I                                 | CUSIP: 26156FAA1<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |    400000 | PA      | $404800.00    | 0.10%             | 2031-06-30      | Fixed         | 8.15%                 | Yes           |                  2 | On Loan: No      |
| Holly Energy Partners LP                                 | Holly Energy Partners LP                                 | CUSIP: 435765AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $185893.37    | 0.04%             | 2027-04-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| MGIC Investment Corp.                                    | MGIC Investment Corp.                                    | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    324000 | PA      | $294808.70    | 0.07%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                | EQM Midstream Partners LP                                | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    164000 | PA      | $160720.00    | 0.04%             | 2025-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Oceaneering International, Inc.                          | Oceaneering International, Inc.                          | CUSIP: 675232AA0<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |    225000 | PA      | $218049.75    | 0.05%             | 2024-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                | Vistra Operations Co. LLC                                | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2322000 | PA      | $2246426.17   | 0.54%             | 2027-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                      | Post Holdings, Inc.                                      | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2282385.53   | 0.55%             | 2029-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                            | Asbury Automotive Group, Inc.                            | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    528000 | PA      | $460680.00    | 0.11%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| IRB Holding Corp.                                        | IRB Holding Corp.                                        | CUSIP: 44988MAC9<br>LEI: 549300HVW4WNWYBXN830 | Long             | DBT              | CORP              | US        |    409000 | PA      | $410104.30    | 0.10%             | 2025-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                         | Sealed Air Corp.                                         | CUSIP: 81211KAX8<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    212000 | PA      | $210295.52    | 0.05%             | 2025-09-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                               | Allison Transmission, Inc.                               | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    576000 | PA      | $544458.70    | 0.13%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                               | Builders FirstSource, Inc.                               | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1056000 | PA      | $936728.88    | 0.22%             | 2030-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Enova International, Inc.                                | Enova International, Inc.                                | CUSIP: 29357KAF0<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    209000 | PA      | $192280.00    | 0.05%             | 2025-09-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| NMI Holdings, Inc.                                       | NMI Holdings, Inc.                                       | CUSIP: 629209AA5<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    164000 | PA      | $164880.68    | 0.04%             | 2025-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Real Hero Merger Sub 2, Inc.                             | Real Hero Merger Sub 2, Inc.                             | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $160080.00    | 0.04%             | 2029-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Navient Corp.                                            | Navient Corp.                                            | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    536000 | PA      | $468324.33    | 0.11%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2004904.00   | 0.48%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CrownRock LP                                             | CrownRock LP                                             | CUSIP: 228701AF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    161000 | PA      | $157176.25    | 0.04%             | 2025-10-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                 | Central Garden & Pet Co.                                 | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    175000 | PA      | $145687.50    | 0.03%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                      | Lithia Motors, Inc.                                      | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    220000 | PA      | $203500.00    | 0.05%             | 2027-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                 | Service Properties Trust                                 | CUSIP: 81761LAA0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    416000 | PA      | $402480.00    | 0.10%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                            | Hologic, Inc.                                            | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    508000 | PA      | $446333.88    | 0.11%             | 2029-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Triumph Group, Inc.                                      | Triumph Group, Inc.                                      | CUSIP: 896818AQ4<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    136000 | PA      | $129200.00    | 0.03%             | 2024-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AMC Networks, Inc.                                       | AMC Networks, Inc.                                       | CUSIP: 00164VAE3<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    323000 | PA      | $287851.14    | 0.07%             | 2025-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                                  | GCI LLC                                                  | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    186000 | PA      | $159351.78    | 0.04%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                    | Albertsons Cos., Inc.                                    | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    784000 | PA      | $725270.56    | 0.17%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Property REIT, Inc.                           | Brookfield Property REIT, Inc.                           | CUSIP: 11284DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    509000 | PA      | $489316.97    | 0.12%             | 2026-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Lamar Media Corp.                                        | Lamar Media Corp.                                        | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $375960.00    | 0.09%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                      | American Axle & Manufacturing, Inc.                      | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    728000 | PA      | $684320.00    | 0.16%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Boyd Gaming Corp.                                        | Boyd Gaming Corp.                                        | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    776000 | PA      | $721680.00    | 0.17%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                  | Southwestern Energy Co.                                  | CUSIP: 845467AP4<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    330000 | PA      | $342683.04    | 0.08%             | 2028-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                                    | Silgan Holdings, Inc.                                    | CUSIP: 827048AW9<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    221000 | PA      | $207507.95    | 0.05%             | 2028-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ITT Holdings LLC                                         | ITT Holdings LLC                                         | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    359000 | PA      | $307250.74    | 0.07%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Lions Gate Capital Holdings LLC                          | Lions Gate Capital Holdings LLC                          | CUSIP: 53627NAE1<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |    296000 | PA      | $192400.00    | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Rite Aid Corp.                                           | Rite Aid Corp.                                           | CUSIP: 767754CL6<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |    713000 | PA      | $443621.47    | 0.11%             | 2026-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Hughes Satellite Systems Corp.                           | Hughes Satellite Systems Corp.                           | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    424000 | PA      | $394177.97    | 0.09%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LCPR Senior Secured Financing DAC                        | LCPR Senior Secured Financing DAC                        | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    638000 | PA      | $603503.34    | 0.14%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Summit Materials LLC                                     | Summit Materials LLC                                     | CUSIP: 86614RAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $438496.25    | 0.11%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Big River Steel LLC                                      | Big River Steel LLC                                      | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1182000 | PA      | $1135562.04   | 0.27%             | 2029-01-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Olin Corp.                                               | Olin Corp.                                               | CUSIP: 680665AJ5<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    223000 | PA      | $209062.50    | 0.05%             | 2027-09-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd.                                   | HUB International Ltd.                                   | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    161000 | PA      | $140976.36    | 0.03%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Presidio Holdings, Inc.                                  | Presidio Holdings, Inc.                                  | CUSIP: 74101XAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    308000 | PA      | $275650.24    | 0.07%             | 2028-02-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| M/I Homes, Inc.                                          | M/I Homes, Inc.                                          | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    232000 | PA      | $201833.88    | 0.05%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                        | FirstEnergy Corp., Series C                              | CUSIP: 337932AJ6<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    213000 | PA      | $187678.56    | 0.04%             | 2047-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                        | Yum! Brands, Inc.                                        | CUSIP: 988498AD3<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    413000 | PA      | $407187.35    | 0.10%             | 2037-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                      | Hilton Domestic Operating Co., Inc.                      | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1428000 | PA      | $1321471.20   | 0.32%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 91911KAN2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1241000 | PA      | $1048508.49   | 0.25%             | 2025-11-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                | Envision Healthcare Corp.                                | CUSIP: 29373TAA2<br>LEI: 549300OL60X0LPKY8N60 | Long             | DBT              | CORP              | US        |    229000 | PA      | $66410.00     | 0.02%             | 2026-10-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                   | Aramark Services, Inc.                                   | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    693000 | PA      | $648072.81    | 0.16%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty Group LLC                                 | Ryan Specialty Group LLC                                 | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    164000 | PA      | $140220.00    | 0.03%             | 2030-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                              | McGraw-Hill Education, Inc.                              | CUSIP: 57767XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $253293.75    | 0.06%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                           | DISH DBS Corp.                                           | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    758000 | PA      | $650743.00    | 0.16%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                           | US Foods, Inc.                                           | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    598000 | PA      | $532889.76    | 0.13%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                    | WMG Acquisition Corp.                                    | CUSIP: 92933BAR5<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |    231000 | PA      | $191453.96    | 0.05%             | 2031-02-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Boyne USA, Inc.                                          | Boyne USA, Inc.                                          | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    279000 | PA      | $248287.68    | 0.06%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    412000 | PA      | $401506.74    | 0.10%             | 2027-06-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Koppers, Inc.                                            | Koppers, Inc.                                            | CUSIP: 500605AH3<br>LEI: LTO4ZL5EBDR1NE6FGJ36 | Long             | DBT              | CORP              | US        |    165000 | PA      | $153656.25    | 0.04%             | 2025-02-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4903000 | PA      | $4215221.67   | 1.01%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Vista Outdoor, Inc.                                      | Vista Outdoor, Inc.                                      | CUSIP: 928377AC4<br>LEI: 549300QI2D33ESTJLN81 | Long             | DBT              | CORP              | US        |    188000 | PA      | $142880.00    | 0.03%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                        | Hertz Corp. (The)                                        | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    422000 | PA      | $334890.76    | 0.08%             | 2029-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                    | OneMain Finance Corp.                                    | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    550000 | PA      | $436370.00    | 0.10%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                | Sunoco LP                                                | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    663000 | PA      | $653642.43    | 0.16%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cogent Communications Group, Inc.                        | Cogent Communications Group, Inc.                        | CUSIP: 19240CAC7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    284000 | PA      | $256849.76    | 0.06%             | 2026-05-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                               | Elanco Animal Health, Inc.                               | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    232000 | PA      | $214258.96    | 0.05%             | 2028-08-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                     | Clear Channel Outdoor Holdings, Inc.                     | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    599000 | PA      | $516247.62    | 0.12%             | 2027-08-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                          | Live Nation Entertainment, Inc.                          | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    770000 | PA      | $771457.61    | 0.18%             | 2027-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Nufarm Australia Ltd.                                    | Nufarm Australia Ltd.                                    | CUSIP: 67052NAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |    134000 | PA      | $114737.50    | 0.03%             | 2030-01-27      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Dycom Industries, Inc.                                   | Dycom Industries, Inc.                                   | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |    254000 | PA      | $218145.36    | 0.05%             | 2029-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                            | Perrigo Finance Unlimited Co.                            | CUSIP: 71429MAC9<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    750000 | PA      | $641047.50    | 0.15%             | 2030-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                   | Encompass Health Corp.                                   | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    525000 | PA      | $472109.10    | 0.11%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                      | Iron Mountain, Inc.                                      | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1661000 | PA      | $1460471.29   | 0.35%             | 2029-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator US Newco, Inc.                               | TK Elevator US Newco, Inc.                               | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    800000 | PA      | $726016.00    | 0.17%             | 2027-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                      | Lithia Motors, Inc.                                      | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    504000 | PA      | $422856.00    | 0.10%             | 2029-06-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                          | Live Nation Entertainment, Inc.                          | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    232000 | PA      | $209377.68    | 0.05%             | 2027-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Fortress Transportation and Infrastructure Investors LLC | Fortress Transportation & Infrastructure Investors LLC   | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    255000 | PA      | $244914.75    | 0.06%             | 2025-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                         | Clarivate Science Holdings Corp.                         | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    584000 | PA      | $524887.52    | 0.13%             | 2028-07-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Carpenter Technology Corp.                               | Carpenter Technology Corp.                               | CUSIP: 144285AL7<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    494000 | PA      | $466148.89    | 0.11%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                               | Go Daddy Operating Co. LLC                               | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    176000 | PA      | $148733.84    | 0.04%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Gen Digital, Inc.                                        | Gen Digital, Inc.                                        | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    314000 | PA      | $304580.00    | 0.07%             | 2025-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                            | Starwood Property Trust, Inc.                            | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    692000 | PA      | $617359.70    | 0.15%             | 2026-07-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                                    | Ahead DB Holdings LLC                                    | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |    225000 | PA      | $183829.50    | 0.04%             | 2028-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Methanex Corp.                                           | Methanex Corp.                                           | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    679000 | PA      | $606442.06    | 0.15%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hanesbrands, Inc.                                        | Hanesbrands, Inc.                                        | CUSIP: 410345AL6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    285000 | PA      | $259350.00    | 0.06%             | 2026-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                            | Dornoch Debt Merger Sub, Inc.                            | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $208291.13    | 0.05%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| RegionalCare Hospital Partners Holdings, Inc.            | RegionalCare Hospital Partners Holdings, Inc.            | CUSIP: 53219LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    554000 | PA      | $445992.16    | 0.11%             | 2026-12-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                              | Service Corp. International                              | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    396000 | PA      | $329670.00    | 0.08%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Transocean Guardian Ltd.                                 | Transocean Guardian Ltd.                                 | CUSIP: 893800AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    278997 | PA      | $271767.91    | 0.07%             | 2024-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                 | Wynn Resorts Finance LLC                                 | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    659000 | PA      | $572742.15    | 0.14%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Laredo Petroleum, Inc.                                   | Laredo Petroleum, Inc.                                   | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    416000 | PA      | $420929.60    | 0.10%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                       | DISH Network Corp.                                       | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    628000 | PA      | $645477.24    | 0.15%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                      | FMG Resources August 2006 Pty. Ltd.                      | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    158000 | PA      | $147974.90    | 0.04%             | 2030-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                 | Blue Racer Midstream LLC                                 | CUSIP: 095796AH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    464000 | PA      | $468215.44    | 0.11%             | 2025-12-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Triton Water Holdings, Inc.                              | Triton Water Holdings, Inc.                              | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |    324000 | PA      | $252164.34    | 0.06%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CCM Merger, Inc.                                         | CCM Merger, Inc.                                         | CUSIP: 14985VAE1<br>LEI: 549300P77RSBKKFME089 | Long             | DBT              | CORP              | US        |    136000 | PA      | $125899.28    | 0.03%             | 2026-05-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CommScope Technologies LLC                               | CommScope Technologies LLC                               | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    506000 | PA      | $474197.90    | 0.11%             | 2025-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Scientific Games International, Inc.                     | Scientific Games International, Inc.                     | CUSIP: 80874YBG4<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    416000 | PA      | $429000.00    | 0.10%             | 2025-07-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    508000 | PA      | $422910.00    | 0.10%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                          | CommScope, Inc.                                          | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1497000 | PA      | $1448287.62   | 0.35%             | 2026-03-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                            | UniCredit SpA                                            | CUSIP: 904678AF6<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   1225000 | PA      | $1066682.52   | 0.26%             | 2032-06-19      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Triumph Group, Inc.                                      | Triumph Group, Inc.                                      | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    317000 | PA      | $324132.50    | 0.08%             | 2024-06-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Stericycle, Inc.                                         | Stericycle, Inc.                                         | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    386000 | PA      | $335820.00    | 0.08%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                      | Rocket Mortgage LLC                                      | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1989000 | PA      | $1696139.64   | 0.41%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                              | Service Corp. International                              | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    599000 | PA      | $567363.82    | 0.14%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Teleflex, Inc.                                           | Teleflex, Inc.                                           | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    327000 | PA      | $303619.50    | 0.07%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                | Zayo Group Holdings, Inc.                                | CUSIP: 98919VAB1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    323000 | PA      | $175227.50    | 0.04%             | 2028-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                       | Cinemark USA, Inc.                                       | CUSIP: 172441BC0<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    243000 | PA      | $247866.08    | 0.06%             | 2025-05-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                   | HUB International Ltd.                                   | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    603000 | PA      | $597006.18    | 0.14%             | 2026-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Avient Corp.                                             | Avient Corp.                                             | CUSIP: 73179PAM8<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    228000 | PA      | $222295.28    | 0.05%             | 2025-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                        | Venture Global Calcasieu Pass LLC                        | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1156000 | PA      | $998495.00    | 0.24%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2068000 | PA      | $1755297.72   | 0.42%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    692000 | PA      | $638639.88    | 0.15%             | 2026-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| AECOM                                                    | AECOM                                                    | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    418000 | PA      | $406663.84    | 0.10%             | 2027-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NFP Corp.                                                | NFP Corp.                                                | CUSIP: 65342RAE0<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    390000 | PA      | $337908.28    | 0.08%             | 2028-08-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                  | NESCO Holdings II, Inc.                                  | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    509000 | PA      | $447772.39    | 0.11%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                            | Calpine Corp.                                            | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    423000 | PA      | $378860.25    | 0.09%             | 2028-03-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    313000 | PA      | $299697.50    | 0.07%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Open Text Holdings, Inc.                                 | Open Text Holdings, Inc.                                 | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    843000 | PA      | $682652.97    | 0.16%             | 2030-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Encompass Health Corp.                                   | Encompass Health Corp.                                   | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    416000 | PA      | $369200.00    | 0.09%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LABL, Inc.                                               | LABL, Inc.                                               | CUSIP: 50168AAA8<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    404000 | PA      | $371680.00    | 0.09%             | 2027-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Paramount Global                                         | Paramount Global                                         | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    416000 | PA      | $344043.74    | 0.08%             | 2062-03-30      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                      | Buckeye Partners LP                                      | CUSIP: 118230AU5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    973000 | PA      | $863537.50    | 0.21%             | 2028-03-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Viavi Solutions, Inc.                                    | Viavi Solutions, Inc.                                    | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    136000 | PA      | $112200.00    | 0.03%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                       | Arches Buyer, Inc.                                       | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    232000 | PA      | $186432.88    | 0.04%             | 2028-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| UPC Broadband Finco BV                                   | UPC Broadband Finco BV                                   | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $427557.50    | 0.10%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Chord Energy Corp.                                       | Chord Energy Corp.                                       | CUSIP: 674215AL2<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    184000 | PA      | $179860.00    | 0.04%             | 2026-06-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Vertiv Group Corp.                                       | Vertiv Group Corp.                                       | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    357000 | PA      | $307020.00    | 0.07%             | 2028-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                 | Lumen Technologies, Inc.                                 | CUSIP: 156700BC9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   1432000 | PA      | $1220780.00   | 0.29%             | 2027-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                                  | CD&R Smokey Buyer, Inc.                                  | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    273000 | PA      | $241946.25    | 0.06%             | 2025-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BellRing Brands, Inc.                                    | BellRing Brands, Inc.                                    | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    370000 | PA      | $357453.30    | 0.09%             | 2030-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP                                            | CQP Holdco LP                                            | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $458790.00    | 0.11%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                             | Scotts Miracle-Gro Co. (The)                             | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    263000 | PA      | $215002.50    | 0.05%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                   | Howmet Aerospace, Inc.                                   | CUSIP: 013817AK7<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    783000 | PA      | $740046.01    | 0.18%             | 2037-02-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Entegris Escrow Corp.                                    | Entegris Escrow Corp.                                    | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $560429.44    | 0.13%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                 | Spirit AeroSystems, Inc.                                 | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    524000 | PA      | $551510.00    | 0.13%             | 2029-11-30      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                               | Ball Corp.                                               | CUSIP: 058498AV8<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    881000 | PA      | $854570.00    | 0.20%             | 2026-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Vector Group Ltd.                                        | Vector Group Ltd.                                        | CUSIP: 92240MBL1<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |    410000 | PA      | $356113.70    | 0.09%             | 2029-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                      | Graphic Packaging International LLC                      | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   1008000 | PA      | $876281.42    | 0.21%             | 2028-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.           | Charles River Laboratories International, Inc.           | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    516000 | PA      | $448982.44    | 0.11%             | 2029-03-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Holly Energy Partners LP                                 | Holly Energy Partners LP                                 | CUSIP: 435765AH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $241457.97    | 0.06%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Forestar Group, Inc.                                     | Forestar Group, Inc.                                     | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    202000 | PA      | $172205.00    | 0.04%             | 2028-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Covanta Holding Corp.                                    | Covanta Holding Corp.                                    | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    313000 | PA      | $264485.00    | 0.06%             | 2029-12-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                      | Medline Borrower LP                                      | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1727000 | PA      | $1484805.52   | 0.36%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp.                                 | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    416000 | PA      | $384068.86    | 0.09%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Altice France Holding SA                                 | Altice France Holding SA                                 | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    750000 | PA      | $592500.00    | 0.14%             | 2027-05-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                | Michaels Cos., Inc. (The)                                | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    285000 | PA      | $168506.25    | 0.04%             | 2029-05-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                    | Albertsons Cos., Inc.                                    | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    539000 | PA      | $480917.36    | 0.12%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Wolverine World Wide, Inc.                               | Wolverine World Wide, Inc.                               | CUSIP: 978097AG8<br>LEI: 549300OVC7PK14LQ8D87 | Long             | DBT              | CORP              | US        |    190000 | PA      | $140600.00    | 0.03%             | 2029-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP                          | Crestwood Midstream Partners LP                          | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $475188.99    | 0.11%             | 2027-05-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                   | Cleveland-Cliffs, Inc.                                   | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    323000 | PA      | $280202.50    | 0.07%             | 2031-03-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                 | Central Garden & Pet Co.                                 | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    232000 | PA      | $213139.56    | 0.05%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ZoomInfo Technologies LLC                                | ZoomInfo Technologies LLC                                | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    194000 | PA      | $163865.98    | 0.04%             | 2029-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Precision Drilling Corp.                                 | Precision Drilling Corp.                                 | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    164000 | PA      | $154955.40    | 0.04%             | 2029-01-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                          | TransDigm, Inc.                                          | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2885906.00   | 0.69%             | 2026-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Gulfport Energy Corp.                                    | Gulfport Energy Corp.                                    | CUSIP: 402635AQ9<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |    295999 | PA      | $295042.92    | 0.07%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Twitter, Inc.                                            | Twitter, Inc.                                            | CUSIP: 90184LAP7<br>LEI: 549300I8RX485XMK6836 | Long             | DBT              | CORP              | US        |    356000 | PA      | $354249.36    | 0.08%             | 2030-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                         | Virgin Media Secured Finance plc                         | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |   1400000 | PA      | $1293404.00   | 0.31%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| B&G Foods, Inc.                                          | B&G Foods, Inc.                                          | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    441000 | PA      | $354740.40    | 0.09%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Block Communications, Inc.                               | Block Communications, Inc.                               | CUSIP: 093645AJ8<br>LEI: M5G68A9OHJWIL4SFC742 | Long             | DBT              | CORP              | US        |    133000 | PA      | $115852.31    | 0.03%             | 2028-03-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Century Communities, Inc.                                | Century Communities, Inc.                                | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    324000 | PA      | $261468.00    | 0.06%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                | EQM Midstream Partners LP                                | CUSIP: 26885BAE0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    496000 | PA      | $384230.64    | 0.09%             | 2048-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                   | Cleveland-Cliffs, Inc.                                   | CUSIP: 185899AK7<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     92000 | PA      | $80500.00     | 0.02%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Select Medical Corp.                                     | Select Medical Corp.                                     | CUSIP: 816196AT6<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |    327000 | PA      | $316490.22    | 0.08%             | 2026-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                        | Genesis Energy LP                                        | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    968000 | PA      | $923870.31    | 0.22%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                           | Western Midstream Operating LP                           | CUSIP: 958254AK0<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1294000 | PA      | $1196950.00   | 0.29%             | 2028-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                               | Liberty Mutual Group, Inc.                               | CUSIP: 53079EBL7<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    659000 | PA      | $386147.64    | 0.09%             | 2061-02-01      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Pediatrix Medical Group, Inc.                            | Pediatrix Medical Group, Inc.                            | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    131000 | PA      | $110539.11    | 0.03%             | 2030-02-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Spirit Loyalty Cayman Ltd.                               | Spirit Loyalty Cayman Ltd.                               | CUSIP: 84859BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    231850 | PA      | $234446.72    | 0.06%             | 2025-09-20      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $596525.00    | 0.14%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Element Solutions, Inc.                                  | Element Solutions, Inc.                                  | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    600000 | PA      | $512796.00    | 0.12%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                      | Intesa Sanpaolo SpA                                      | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1600000 | PA      | $1545835.73   | 0.37%             | 2026-01-15      | Fixed         | 5.71%                 | Yes           |                  2 | On Loan: No      |
| CommScope Technologies LLC                               | CommScope Technologies LLC                               | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    263000 | PA      | $200621.66    | 0.05%             | 2027-03-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                | EQM Midstream Partners LP                                | CUSIP: 26885BAC4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2418373.80   | 0.58%             | 2028-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                               | PG&E Corp.                                               | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $959814.10    | 0.23%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                      | Kinetik Holdings LP                                      | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    556000 | PA      | $522478.76    | 0.13%             | 2030-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                          | Trinseo Materials Operating SCA                          | CUSIP: 89668QAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    285000 | PA      | $181331.25    | 0.04%             | 2029-04-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                     | Prime Security Services Borrower LLC                     | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1895850.00   | 0.45%             | 2026-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                   | Mauser Packaging Solutions Holding Co.                   | CUSIP: 12429TAE4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    605000 | PA      | $552062.50    | 0.13%             | 2025-04-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| SK Invictus Intermediate II Sarl                         | SK Invictus Intermediate II Sarl                         | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    268000 | PA      | $214400.00    | 0.05%             | 2029-10-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Viper Energy Partners LP                                 | Viper Energy Partners LP                                 | CUSIP: 92763MAA3<br>LEI: 5299009LINL232255G03 | Long             | DBT              | CORP              | US        |    190000 | PA      | $180083.32    | 0.04%             | 2027-11-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                              | Acadia Healthcare Co., Inc.                              | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    328000 | PA      | $308377.31    | 0.07%             | 2028-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Global Aircraft Leasing Co. Ltd.                         | Global Aircraft Leasing Co. Ltd.                         | CUSIP: 37960JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1798557 | PA      | $1501731.48   | 0.36%             | 2024-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                             | Antero Midstream Partners LP                             | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    781000 | PA      | $745783.45    | 0.18%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Legacy LifePoint Health LLC                              | Legacy LifePoint Health LLC                              | CUSIP: 53219LAS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    399000 | PA      | $330753.88    | 0.08%             | 2027-02-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil Corp.                                         | Murphy Oil Corp.                                         | CUSIP: 626717AJ1<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    184000 | PA      | $183182.10    | 0.04%             | 2025-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                    | United Airlines, Inc.                                    | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1043000 | PA      | $928496.37    | 0.22%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sands China Ltd.                                         | Sands China Ltd.                                         | CUSIP: 80007RAF2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $955000.00    | 0.23%             | 2025-08-08      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                            | Novelis Corp.                                            | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1968000 | PA      | $1749745.40   | 0.42%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                  | Bath & Body Works, Inc.                                  | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1074000 | PA      | $971970.00    | 0.23%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AerCap Global Aviation Trust                             | AerCap Global Aviation Trust                             | CUSIP: 00773HAA5<br>LEI: 635400FBSV8LXXNRV758 | Long             | DBT              | CORP              | US        |    300000 | PA      | $277112.74    | 0.07%             | 2045-06-15      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                      | Newell Brands, Inc.                                      | CUSIP: 651229AW6<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   1187000 | PA      | $1119768.32   | 0.27%             | 2026-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Jazz Securities DAC                                      | Jazz Securities DAC                                      | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    450000 | PA      | $408384.00    | 0.10%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                               | Fertitta Entertainment LLC                               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    303000 | PA      | $267518.70    | 0.06%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                       | Vodafone Group plc                                       | CUSIP: 92857WBX7<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    249000 | PA      | $177621.66    | 0.04%             | 2081-06-04      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                       | LPL Holdings, Inc.                                       | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    652000 | PA      | $602324.12    | 0.14%             | 2027-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc.                                           | PetSmart, Inc.                                           | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $601250.00    | 0.14%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Banijay Entertainment SASU                               | Banijay Entertainment SASU                               | CUSIP: 060335AA4<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $237012.50    | 0.06%             | 2025-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                          | Advanced Drainage Systems, Inc.                          | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    473000 | PA      | $455191.55    | 0.11%             | 2030-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Range Resources Corp.                                    | Range Resources Corp.                                    | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    613000 | PA      | $639524.51    | 0.15%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MGM Resorts International                                | MGM Resorts International                                | CUSIP: 552953CE9<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    736000 | PA      | $718744.41    | 0.17%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                             | Intelsat Jackson Holdings SA                             | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |   1298000 | PA      | $1194160.00   | 0.29%             | 2030-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Terex Corp.                                              | Terex Corp.                                              | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    232000 | PA      | $209772.08    | 0.05%             | 2029-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Synaptics, Inc.                                          | Synaptics, Inc.                                          | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |    190000 | PA      | $158309.60    | 0.04%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                  | Uber Technologies, Inc.                                  | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    836000 | PA      | $845517.37    | 0.20%             | 2026-11-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| EnPro Industries, Inc.                                   | EnPro Industries, Inc.                                   | CUSIP: 29355XAG2<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    190000 | PA      | $184535.60    | 0.04%             | 2026-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp.                                     | Sprint Capital Corp.                                     | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1546000 | PA      | $1638157.06   | 0.39%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                               | Primo Water Holdings, Inc.                               | CUSIP: 74168LAA4<br>LEI: 9845008F9A5F2E1D4832 | Long             | DBT              | CORP              | US        |    296000 | PA      | $255791.36    | 0.06%             | 2029-04-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Air Canada                                               | Air Canada                                               | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    496000 | PA      | $453840.69    | 0.11%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Imola Merger Corp.                                       | Imola Merger Corp.                                       | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1192000 | PA      | $1063860.00   | 0.26%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Science Applications International Corp.                 | Science Applications International Corp.                 | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    226000 | PA      | $208202.50    | 0.05%             | 2028-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Viasat, Inc.                                             | Viasat, Inc.                                             | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    232000 | PA      | $213214.96    | 0.05%             | 2027-04-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Meritage Homes Corp.                                     | Meritage Homes Corp.                                     | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    326000 | PA      | $308070.00    | 0.07%             | 2027-06-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                        | FirstEnergy Corp.                                        | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   1361000 | PA      | $1125220.36   | 0.27%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Global Medical Response, Inc.                            | Global Medical Response, Inc.                            | CUSIP: 37960BAA3<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    230000 | PA      | $173093.40    | 0.04%             | 2025-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ams-OSRAM AG                                             | ams-OSRAM AG                                             | CUSIP: 03217CAA4<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $183789.18    | 0.04%             | 2025-07-31      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                           | 1011778 BC ULC                                           | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1001000 | PA      | $910799.89    | 0.22%             | 2028-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                     | Owens-Brockway Glass Container, Inc.                     | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    675000 | PA      | $649368.56    | 0.16%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| PDC Energy, Inc.                                         | PDC Energy, Inc.                                         | CUSIP: 69327RAG6<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    136000 | PA      | $134640.00    | 0.03%             | 2024-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                            | Clearway Energy Operating LLC                            | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    245000 | PA      | $226322.17    | 0.05%             | 2028-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                    | OneMain Finance Corp.                                    | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1737000 | PA      | $1694096.10   | 0.41%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corp.                                         | Fair Isaac Corp.                                         | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    417000 | PA      | $413311.64    | 0.10%             | 2026-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                            | Asbury Automotive Group, Inc.                            | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    423000 | PA      | $382692.33    | 0.09%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                      | Iron Mountain, Inc.                                      | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    811000 | PA      | $762575.19    | 0.18%             | 2027-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Mallinckrodt International Finance SA                    | Mallinckrodt International Finance SA                    | CUSIP: 561233AM9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    445000 | PA      | $383363.05    | 0.09%             | 2028-12-15      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1444000 | PA      | $1330869.82   | 0.32%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Weatherford International Ltd.                           | Weatherford International Ltd.                           | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    161000 | PA      | $154962.50    | 0.04%             | 2028-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                        | PennyMac Financial Services, Inc.                        | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    637000 | PA      | $509421.64    | 0.12%             | 2031-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Coherent Corp.                                           | Coherent Corp.                                           | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    494000 | PA      | $435955.00    | 0.10%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    830000 | PA      | $695125.00    | 0.17%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Dana, Inc.                                               | Dana, Inc.                                               | CUSIP: 235825AF3<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    863000 | PA      | $790783.66    | 0.19%             | 2027-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                    | WR Grace Holdings LLC                                    | CUSIP: 92943GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    914000 | PA      | $753538.16    | 0.18%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Boise Cascade Co.                                        | Boise Cascade Co.                                        | CUSIP: 09739DAD2<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | DBT              | CORP              | US        |    164000 | PA      | $140738.55    | 0.03%             | 2030-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| PGT Innovations, Inc.                                    | PGT Innovations, Inc.                                    | CUSIP: 69336VAB7<br>LEI: 549300LRW9WM59C1S579 | Long             | DBT              | CORP              | US        |    230000 | PA      | $193724.40    | 0.05%             | 2029-10-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                      | Graphic Packaging International LLC                      | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    394000 | PA      | $367148.90    | 0.09%             | 2027-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                             | Scotts Miracle-Gro Co. (The)                             | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    324000 | PA      | $249247.08    | 0.06%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                       | Vail Resorts, Inc.                                       | CUSIP: 91879QAL3<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |    235000 | PA      | $234755.55    | 0.06%             | 2025-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| International Game Technology plc                        | International Game Technology plc                        | CUSIP: 460599AC7<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    631000 | PA      | $634244.92    | 0.15%             | 2025-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                             | DaVita, Inc.                                             | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    388000 | PA      | $285180.00    | 0.07%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| XPO Escrow Sub LLC                                       | XPO Escrow Sub LLC                                       | CUSIP: 98379JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    312000 | PA      | $316680.00    | 0.08%             | 2027-11-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2067000 | PA      | $1741447.50   | 0.42%             | 2026-03-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                           | US Foods, Inc.                                           | CUSIP: 90290MAC5<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    432000 | PA      | $436034.88    | 0.10%             | 2025-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Aethon United BR LP                                      | Aethon United BR LP                                      | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    246000 | PA      | $244750.52    | 0.06%             | 2026-02-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                    | Coinbase Global, Inc.                                    | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    718000 | PA      | $419656.64    | 0.10%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Endeavor Energy Resources LP                             | Endeavor Energy Resources LP                             | CUSIP: 29260FAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    326000 | PA      | $320849.20    | 0.08%             | 2028-01-30      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Stevens Holding Co., Inc.                                | Stevens Holding Co., Inc.                                | CUSIP: 86024TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $191597.90    | 0.05%             | 2026-10-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GDG2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    967000 | PA      | $865483.54    | 0.21%             | 2028-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Mattamy Group Corp.                                      | Mattamy Group Corp.                                      | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    313000 | PA      | $280886.20    | 0.07%             | 2027-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                             | Tallgrass Energy Partners LP                             | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2021000 | PA      | $1834057.50   | 0.44%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Patterson-UTI Energy, Inc.                               | Patterson-UTI Energy, Inc.                               | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    285000 | PA      | $252983.27    | 0.06%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MSCI, Inc.                                               | MSCI, Inc.                                               | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    497000 | PA      | $431783.66    | 0.10%             | 2031-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Precision Drilling Corp.                                 | Precision Drilling Corp.                                 | CUSIP: 740212AL9<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    245000 | PA      | $239889.30    | 0.06%             | 2026-01-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2514000 | PA      | $1046912.06   | 0.25%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                            | Calpine Corp.                                            | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1231000 | PA      | $1126061.09   | 0.27%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Rolls-Royce plc                                          | Rolls-Royce plc                                          | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    800000 | PA      | $761152.00    | 0.18%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP                             | MPT Operating Partnership LP                             | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1633000 | PA      | $1284321.84   | 0.31%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Performance Food Group, Inc.                             | Performance Food Group, Inc.                             | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1068000 | PA      | $1030620.00   | 0.25%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                          | CommScope, Inc.                                          | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1244000 | PA      | $1067855.82   | 0.26%             | 2027-03-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Sprint LLC                                               | Sprint LLC                                               | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    685000 | PA      | $699510.31    | 0.17%             | 2024-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                 | SCIH Salt Holdings, Inc.                                 | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186000 | PA      | $155310.00    | 0.04%             | 2029-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Nokia OYJ                                                | Nokia OYJ                                                | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    190000 | PA      | $179550.00    | 0.04%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                        | Hertz Corp. (The)                                        | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    323000 | PA      | $280193.28    | 0.07%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Photo Holdings Merger Sub, Inc.                          | Photo Holdings Merger Sub, Inc.                          | CUSIP: 719245AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    228000 | PA      | $140332.87    | 0.03%             | 2026-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TriMas Corp.                                             | TriMas Corp.                                             | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |    190000 | PA      | $161975.00    | 0.04%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                  | Bath & Body Works, Inc.                                  | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    830000 | PA      | $832768.05    | 0.20%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Mattel, Inc.                                             | Mattel, Inc.                                             | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    324000 | PA      | $316820.16    | 0.08%             | 2027-12-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                             | Ardagh Packaging Finance plc                             | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $704000.00    | 0.17%             | 2026-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                    | Sirius XM Radio, Inc.                                    | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    664000 | PA      | $560296.48    | 0.13%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Bloomin' Brands, Inc.                                    | Bloomin' Brands, Inc.                                    | CUSIP: 094234AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $164070.70    | 0.04%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Avient Corp.                                             | Avient Corp.                                             | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    687000 | PA      | $670718.10    | 0.16%             | 2030-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Baytex Energy Corp.                                      | Baytex Energy Corp.                                      | CUSIP: 07317QAH8<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |    170000 | PA      | $175264.90    | 0.04%             | 2027-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                         | Bombardier, Inc.                                         | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1186000 | PA      | $1166715.64   | 0.28%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                    | Avantor Funding, Inc.                                    | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    890000 | PA      | $818800.00    | 0.20%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Ziggo Bond Co. BV                                        | Ziggo Bond Co. BV                                        | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $811270.00    | 0.19%             | 2030-02-28      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman International, Inc.                    | Williams Scotsman International, Inc.                    | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    323000 | PA      | $293671.60    | 0.07%             | 2028-08-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Resorts World Las Vegas LLC                              | Resorts World Las Vegas LLC                              | CUSIP: 76120HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $204000.00    | 0.05%             | 2029-04-16      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| AmWINS Group, Inc.                                       | AmWINS Group, Inc.                                       | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    314000 | PA      | $271337.42    | 0.07%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                           | ZF North America Capital, Inc.                           | CUSIP: 98877DAC9<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $483220.00    | 0.12%             | 2025-04-29      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Taylor Morrison Communities, Inc.                        | Taylor Morrison Communities, Inc.                        | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    554000 | PA      | $530060.28    | 0.13%             | 2027-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                | NCR Corp.                                                | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    330000 | PA      | $320925.00    | 0.08%             | 2027-09-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                | MGM Resorts International                                | CUSIP: 552953CD1<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    736000 | PA      | $679002.03    | 0.16%             | 2026-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tri Pointe Homes, Inc.                                   | Tri Pointe Homes, Inc.                                   | CUSIP: 87265HAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $291390.35    | 0.07%             | 2028-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Abercrombie & Fitch Management Co.                       | Abercrombie & Fitch Management Co.                       | CUSIP: 003000AA4<br>LEI: 5493003QMCFDA98NPT74 | Long             | DBT              | CORP              | US        |    133000 | PA      | $132335.00    | 0.03%             | 2025-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Station Casinos LLC                                      | Station Casinos LLC                                      | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    494000 | PA      | $435722.79    | 0.10%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Syneos Health, Inc.                                      | Syneos Health, Inc.                                      | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |    296000 | PA      | $234023.52    | 0.06%             | 2029-01-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                  | Nabors Industries, Inc.                                  | CUSIP: 62957HAF2<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    499000 | PA      | $479040.00    | 0.11%             | 2025-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                      | Newell Brands, Inc.                                      | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    330000 | PA      | $254100.00    | 0.06%             | 2046-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                  | Scripps Escrow II, Inc.                                  | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $145419.48    | 0.03%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1408000 | PA      | $1413350.40   | 0.34%             | 2027-07-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                               | Go Daddy Operating Co. LLC                               | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    233000 | PA      | $220820.53    | 0.05%             | 2027-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| INEOS Quattro Finance 2 plc                              | INEOS Quattro Finance 2 plc                              | CUSIP: 45674GAA2<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $266724.00    | 0.06%             | 2026-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                      | Altice Financing SA                                      | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $204440.00    | 0.05%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Corp.                                  | Credit Acceptance Corp.                                  | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $219240.00    | 0.05%             | 2026-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    416000 | PA      | $347085.44    | 0.08%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                      | FMG Resources August 2006 Pty. Ltd.                      | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1049000 | PA      | $959835.00    | 0.23%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Transocean, Inc.                                         | Transocean, Inc.                                         | CUSIP: 893830BQ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    189000 | PA      | $191355.89    | 0.05%             | 2027-01-30      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Interface, Inc.                                          | Interface, Inc.                                          | CUSIP: 458665AS5<br>LEI: 549300VXZWQOIDFPU355 | Long             | DBT              | CORP              | US        |    188000 | PA      | $151764.68    | 0.04%             | 2028-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Archrock Partners LP                                     | Archrock Partners LP                                     | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    512000 | PA      | $495360.00    | 0.12%             | 2027-04-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                          | TransDigm, Inc.                                          | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1517000 | PA      | $1429772.50   | 0.34%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                               | Melco Resorts Finance Ltd.                               | CUSIP: 58547DAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $432500.00    | 0.10%             | 2025-06-06      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Under Armour, Inc.                                       | Under Armour, Inc.                                       | CUSIP: 904311AA5<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |    190000 | PA      | $167200.00    | 0.04%             | 2026-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MSCI, Inc.                                               | MSCI, Inc.                                               | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1733000 | PA      | $1530290.99   | 0.37%             | 2029-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                    | Directv Financing LLC                                    | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1402000 | PA      | $1286447.16   | 0.31%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Allegiant Travel Co.                                     | Allegiant Travel Co.                                     | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |    198000 | PA      | $192879.72    | 0.05%             | 2027-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| White Cap Buyer LLC                                      | White Cap Buyer LLC                                      | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $254277.76    | 0.06%             | 2028-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                               | Sensata Technologies, Inc.                               | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |   1687000 | PA      | $1494015.64   | 0.36%             | 2030-02-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                            | Surgery Center Holdings, Inc.                            | CUSIP: 84611WAB0<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    282000 | PA      | $276041.75    | 0.07%             | 2025-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MIWD Holdco II LLC                                       | MIWD Holdco II LLC                                       | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254000 | PA      | $208280.00    | 0.05%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                | Darling Ingredients, Inc.                                | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    338000 | PA      | $329614.22    | 0.08%             | 2030-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc.                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1878009 | PA      | $1821327.31   | 0.44%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AdaptHealth LLC                                          | AdaptHealth LLC                                          | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $381212.51    | 0.09%             | 2028-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| GEO Group, Inc. (The)                                    | GEO Group, Inc. (The)                                    | CUSIP: 36162JAC0<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    268000 | PA      | $271457.20    | 0.07%             | 2028-06-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Kontoor Brands, Inc.                                     | Kontoor Brands, Inc.                                     | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    133000 | PA      | $108301.98    | 0.03%             | 2029-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                             | Hess Midstream Operations LP                             | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1035606.00   | 0.25%             | 2028-06-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Nordstrom, Inc.                                          | Nordstrom, Inc.                                          | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    323000 | PA      | $213180.00    | 0.05%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                  | Uber Technologies, Inc.                                  | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    836000 | PA      | $727758.90    | 0.17%             | 2029-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NMG Holding Co., Inc.                                    | NMG Holding Co., Inc.                                    | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    622000 | PA      | $598961.12    | 0.14%             | 2026-04-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                         | Clarivate Science Holdings Corp.                         | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    654000 | PA      | $559987.50    | 0.13%             | 2029-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Papa John's International, Inc.                          | Papa John's International, Inc.                          | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |    232000 | PA      | $193823.49    | 0.05%             | 2029-09-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| iStar, Inc.                                              | iStar, Inc.                                              | CUSIP: 45031UCF6<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | DBT              | CORP              | US        |    541000 | PA      | $532266.33    | 0.13%             | 2024-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Northwest Fiber LLC                                      | Northwest Fiber LLC                                      | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129000 | PA      | $114172.38    | 0.03%             | 2027-04-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                             | Royal Caribbean Cruises Ltd.                             | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    396000 | PA      | $406890.00    | 0.10%             | 2027-08-15      | Fixed         | 11.62%                | Yes           |                  2 | On Loan: No      |
| Venator Finance SARL                                     | Venator Finance SARL                                     | CUSIP: 9226APAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158000 | PA      | $54510.00     | 0.01%             | 2025-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Icahn Enterprises LP                                     | Icahn Enterprises LP                                     | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    984000 | PA      | $971276.88    | 0.23%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Triumph Group, Inc.                                      | Triumph Group, Inc.                                      | CUSIP: 896818AP6<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    326000 | PA      | $279545.00    | 0.07%             | 2025-08-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Gen Digital, Inc.                                        | Gen Digital, Inc.                                        | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    536000 | PA      | $538310.16    | 0.13%             | 2027-09-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| PDC Energy, Inc.                                         | PDC Energy, Inc.                                         | CUSIP: 69327RAJ0<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    190000 | PA      | $181482.30    | 0.04%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                       | Nationstar Mortgage Holdings, Inc.                       | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2185000 | PA      | $1832289.89   | 0.44%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3486000 | PA      | $3494715.00   | 0.84%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Viasat, Inc.                                             | Viasat, Inc.                                             | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    362000 | PA      | $278468.50    | 0.07%             | 2028-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    413000 | PA      | $364472.50    | 0.09%             | 2028-10-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                  | SS&C Technologies, Inc.                                  | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    668000 | PA      | $638452.06    | 0.15%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                      | FMG Resources August 2006 Pty. Ltd.                      | CUSIP: 30251GAW7<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    223000 | PA      | $221188.13    | 0.05%             | 2024-05-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| News Corp.                                               | News Corp.                                               | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |    658000 | PA      | $584797.50    | 0.14%             | 2029-05-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Gannett Holdings LLC                                     | Gannett Holdings LLC                                     | CUSIP: 36474GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $151051.66    | 0.04%             | 2026-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Pactiv Evergreen Group Issuer, Inc.                      | Pactiv Evergreen Group Issuer, Inc.                      | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    745000 | PA      | $654761.88    | 0.16%             | 2027-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Hess Infrastructure Partners LP                          | Hess Infrastructure Partners LP                          | CUSIP: 428102AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24574.75     | 0.01%             | 2026-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                      | Herc Holdings, Inc.                                      | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    593000 | PA      | $560521.39    | 0.13%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Gap, Inc. (The)                                          | Gap, Inc. (The)                                          | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    729000 | PA      | $560050.61    | 0.13%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc.                                            | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $945663.10    | 0.23%             | 2026-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                       | APi Group DE, Inc.                                       | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    330000 | PA      | $274269.60    | 0.07%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| LSF9 Atlantis Holdings LLC                               | LSF9 Atlantis Holdings LLC                               | CUSIP: 50220MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    303000 | PA      | $279635.67    | 0.07%             | 2026-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| California Resources Corp.                               | California Resources Corp.                               | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    323000 | PA      | $314117.50    | 0.08%             | 2026-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Millennium Escrow Corp.                                  | Millennium Escrow Corp.                                  | CUSIP: 60041CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $226080.00    | 0.05%             | 2026-08-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                               | Axalta Coating Systems LLC                               | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    675000 | PA      | $618885.10    | 0.15%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Scripps Escrow, Inc.                                     | Scripps Escrow, Inc.                                     | CUSIP: 81104PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422000 | PA      | $375580.00    | 0.09%             | 2027-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Booz Allen Hamilton, Inc.                                | Booz Allen Hamilton, Inc.                                | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    557000 | PA      | $501990.68    | 0.12%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                              | TEGNA, Inc.                                              | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $944387.34    | 0.23%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                   | Mauser Packaging Solutions Holding Co.                   | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    835000 | PA      | $823578.37    | 0.20%             | 2024-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Harsco Corp.                                             | Harsco Corp.                                             | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |    190000 | PA      | $153425.00    | 0.04%             | 2027-07-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                 | Energizer Holdings, Inc.                                 | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    596000 | PA      | $519676.24    | 0.12%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC                           | Park Intermediate Holdings LLC                           | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1792000 | PA      | $1659517.44   | 0.40%             | 2028-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                   | Ardagh Metal Packaging Finance USA LLC                   | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $440000.00    | 0.11%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                  | GFL Environmental, Inc.                                  | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    780000 | PA      | $751108.80    | 0.18%             | 2026-12-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                     | Xerox Holdings Corp.                                     | CUSIP: 98421MAA4<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    279000 | PA      | $259439.31    | 0.06%             | 2025-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Wabash National Corp.                                    | Wabash National Corp.                                    | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |    182000 | PA      | $153895.33    | 0.04%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil USA, Inc.                                     | Murphy Oil USA, Inc.                                     | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    416000 | PA      | $400628.80    | 0.10%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Presidio Holdings, Inc.                                  | Presidio Holdings, Inc.                                  | CUSIP: 74101XAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    302000 | PA      | $281835.46    | 0.07%             | 2027-02-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Curo Group Holdings Corp.                                | Curo Group Holdings Corp.                                | CUSIP: 23131LAC1<br>LEI: 54930007KH8KCGJ4YE72 | Long             | DBT              | CORP              | US        |    381000 | PA      | $156210.00    | 0.04%             | 2028-08-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| EnLink Midstream LLC                                     | EnLink Midstream LLC                                     | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    664000 | PA      | $632460.00    | 0.15%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Kaiser Aluminum Corp.                                    | Kaiser Aluminum Corp.                                    | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    508000 | PA      | $446740.28    | 0.11%             | 2028-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                    | Spectrum Brands, Inc.                                    | CUSIP: 84762LAW5<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    622000 | PA      | $532668.36    | 0.13%             | 2030-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil Corp.                                         | Murphy Oil Corp.                                         | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    198000 | PA      | $191168.04    | 0.05%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Conduent Business Services LLC                           | Conduent Business Services LLC                           | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $200900.00    | 0.05%             | 2029-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| H&E Equipment Services, Inc.                             | H&E Equipment Services, Inc.                             | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |    659000 | PA      | $569896.61    | 0.14%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                      | Altice Financing SA                                      | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    850000 | PA      | $693498.00    | 0.17%             | 2028-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    405000 | PA      | $354375.00    | 0.08%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                               | Avis Budget Car Rental LLC                               | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    678000 | PA      | $627088.30    | 0.15%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Seagate HDD Cayman                                       | Seagate HDD Cayman                                       | CUSIP: 81180WAR2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   1145000 | PA      | $1071805.04   | 0.26%             | 2027-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ATI, Inc.                                                | ATI, Inc.                                                | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    790000 | PA      | $736303.70    | 0.18%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                             | MPH Acquisition Holdings LLC                             | CUSIP: 553283AC6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    374000 | PA      | $262735.00    | 0.06%             | 2028-11-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                   | Howmet Aerospace, Inc.                                   | CUSIP: 443201AA6<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    313000 | PA      | $319749.22    | 0.08%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                    | Gray Television, Inc.                                    | CUSIP: 389284AA8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    681000 | PA      | $625784.52    | 0.15%             | 2027-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                  | RHP Hotel Properties LP                                  | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    986000 | PA      | $900659.24    | 0.22%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                        | Genesis Energy LP                                        | CUSIP: 37185LAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    531000 | PA      | $511167.15    | 0.12%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Tempur Sealy International, Inc.                         | Tempur Sealy International, Inc.                         | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    600000 | PA      | $497443.85    | 0.12%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Verscend Escrow Corp.                                    | Verscend Escrow Corp.                                    | CUSIP: 92535WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    307000 | PA      | $307070.61    | 0.07%             | 2026-08-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| ANGI Group LLC                                           | ANGI Group LLC                                           | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $184056.25    | 0.04%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Windstream Escrow LLC                                    | Windstream Escrow LLC                                    | CUSIP: 97382WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    423000 | PA      | $370125.00    | 0.09%             | 2028-08-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Griffon Corp.                                            | Griffon Corp.                                            | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |    416000 | PA      | $386942.40    | 0.09%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Jacobs Entertainment, Inc.                               | Jacobs Entertainment, Inc.                               | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    202000 | PA      | $181800.00    | 0.04%             | 2029-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                   | Cleveland-Cliffs, Inc.                                   | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    390000 | PA      | $369174.00    | 0.09%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Archrock Partners LP                                     | Archrock Partners LP                                     | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133000 | PA      | $123357.50    | 0.03%             | 2028-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp.                                 | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    518000 | PA      | $432455.83    | 0.10%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| USI, Inc.                                                | USI, Inc.                                                | CUSIP: 91739VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $225425.49    | 0.05%             | 2025-05-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| LCM Investments Holdings II LLC                          | LCM Investments Holdings II LLC                          | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    329000 | PA      | $275076.86    | 0.07%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                        | Clarios Global LP                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    508000 | PA      | $503240.04    | 0.12%             | 2026-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Callon Petroleum Co.                                     | Callon Petroleum Co.                                     | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    268000 | PA      | $257280.00    | 0.06%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                         | Marriott Ownership Resorts, Inc.                         | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    348000 | PA      | $305276.33    | 0.07%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                               | iHeartCommunications, Inc.                               | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    573864 | PA      | $510738.96    | 0.12%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| DT Midstream, Inc.                                       | DT Midstream, Inc.                                       | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1125000 | PA      | $991237.50    | 0.24%             | 2029-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                            | Wesco Aircraft Holdings, Inc.                            | CUSIP: 97789LAB2<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |   1791000 | PA      | $1137285.00   | 0.27%             | 2026-11-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                          | Wynn Macau Ltd.                                          | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1300000 | PA      | $1079000.00   | 0.26%             | 2028-08-26      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                               | Coty, Inc.                                               | CUSIP: 222070AB0<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    136000 | PA      | $129880.00    | 0.03%             | 2026-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                               | Coty, Inc.                                               | CUSIP: 222070AE4<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    423000 | PA      | $405547.02    | 0.10%             | 2026-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Black Knight InfoServ LLC                                | Black Knight InfoServ LLC                                | CUSIP: 092174AA9<br>LEI: 549300H5PS5C68DAUX66 | Long             | DBT              | CORP              | US        |    318000 | PA      | $285999.66    | 0.07%             | 2028-09-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Sprint Capital Corp.                                     | Sprint Capital Corp.                                     | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    871000 | PA      | $1041411.15   | 0.25%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMC Networks, Inc.                                       | AMC Networks, Inc.                                       | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    133000 | PA      | $99134.21     | 0.02%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                              | Cheniere Energy Partners LP                              | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    732000 | PA      | $671976.00    | 0.16%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Weekley Homes LLC                                        | Weekley Homes LLC                                        | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $141834.15    | 0.03%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                           | DISH DBS Corp.                                           | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    684000 | PA      | $554758.20    | 0.13%             | 2028-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                            | Organon & Co.                                            | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    825000 | PA      | $742483.50    | 0.18%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Arconic Corp.                                            | Arconic Corp.                                            | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    165000 | PA      | $162513.52    | 0.04%             | 2025-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| EnLink Midstream Partners LP                             | EnLink Midstream Partners LP                             | CUSIP: 29336UAE7<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    166000 | PA      | $158388.90    | 0.04%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3662000 | PA      | $3323155.14   | 0.80%             | 2029-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| KB Home                                                  | KB Home                                                  | CUSIP: 48666KAY5<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    402000 | PA      | $347730.00    | 0.08%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                         | Marriott Ownership Resorts, Inc.                         | CUSIP: 57164PAG1<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    161000 | PA      | $159019.88    | 0.04%             | 2025-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                | EQM Midstream Partners LP                                | CUSIP: 26885BAA8<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    461000 | PA      | $440255.00    | 0.11%             | 2024-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Caesars Resort Collection LLC                            | Caesars Resort Collection LLC                            | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    407000 | PA      | $402056.99    | 0.10%             | 2025-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                | Michaels Cos., Inc. (The)                                | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    307000 | PA      | $224857.54    | 0.05%             | 2028-05-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Suburban Propane Partners LP                             | Suburban Propane Partners LP                             | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $276211.56    | 0.07%             | 2031-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                       | Cinemark USA, Inc.                                       | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    474000 | PA      | $378607.50    | 0.09%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MGM China Holdings Ltd.                                  | MGM China Holdings Ltd.                                  | CUSIP: 55300RAB7<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    800000 | PA      | $734000.00    | 0.18%             | 2026-05-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| United Airlines, Inc.                                    | United Airlines, Inc.                                    | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1416000 | PA      | $1318331.68   | 0.32%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                 | WESCO Distribution, Inc.                                 | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    405000 | PA      | $410062.50    | 0.10%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                         | Sabre GLBL, Inc.                                         | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    458000 | PA      | $456855.00    | 0.11%             | 2025-04-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Venator Finance SARL                                     | Venator Finance SARL                                     | CUSIP: 9226ALAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    134000 | PA      | $98155.00     | 0.02%             | 2025-07-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                     | Prime Security Services Borrower LLC                     | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    573000 | PA      | $532890.00    | 0.13%             | 2028-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                         | Bombardier, Inc.                                         | CUSIP: 097751BV2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    855000 | PA      | $840028.95    | 0.20%             | 2026-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Urban One, Inc.                                          | Urban One, Inc.                                          | CUSIP: 91705JAC9<br>LEI: 549300PLGIGPBRQUP240 | Long             | DBT              | CORP              | US        |    230000 | PA      | $194350.00    | 0.05%             | 2028-02-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                             | Antero Midstream Partners LP                             | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    877000 | PA      | $828765.00    | 0.20%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                        | Yum! Brands, Inc.                                        | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   2338000 | PA      | $2139270.00   | 0.51%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Gray Television, Inc.                                    | Gray Television, Inc.                                    | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    930000 | PA      | $688097.70    | 0.16%             | 2030-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                     | IHO Verwaltungs GmbH                                     | CUSIP: 44963BAD0<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    600000 | PA      | $510000.00    | 0.12%             | 2029-05-15      | Fixed         | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Audacy Capital Corp.                                     | Audacy Capital Corp.                                     | CUSIP: 29365DAA7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |    269000 | PA      | $68514.30     | 0.02%             | 2027-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                          | Sinclair Television Group, Inc.                          | CUSIP: 829259BA7<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    232000 | PA      | $177898.57    | 0.04%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                      | Rocket Mortgage LLC                                      | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $441000.00    | 0.11%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Callon Petroleum Co.                                     | Callon Petroleum Co.                                     | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    268000 | PA      | $264775.96    | 0.06%             | 2028-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Commercial Metals Co.                                    | Commercial Metals Co.                                    | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    286000 | PA      | $246116.39    | 0.06%             | 2030-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SRS Distribution, Inc.                                   | SRS Distribution, Inc.                                   | CUSIP: 78471RAC0<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    501000 | PA      | $415538.65    | 0.10%             | 2029-07-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Apache Corp.                                             | Apache Corp.                                             | CUSIP: 037411BF1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    817000 | PA      | $734205.22    | 0.18%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                           | Entegris, Inc.                                           | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    344000 | PA      | $303989.51    | 0.07%             | 2028-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| RP Escrow Issuer LLC                                     | RP Escrow Issuer LLC                                     | CUSIP: 74969PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $230267.13    | 0.06%             | 2025-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Terraform Global Operating LP                            | Terraform Global Operating LP                            | CUSIP: 88104UAC7<br>LEI: 549300LC7QMVR79H5O86 | Long             | DBT              | CORP              | US        |    184000 | PA      | $172174.32    | 0.04%             | 2026-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                         | Cooper-Standard Automotive, Inc.                         | CUSIP: 216762AF1<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |    205000 | PA      | $85712.02     | 0.02%             | 2026-11-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Colgate Energy Partners III LLC                          | Colgate Energy Partners III LLC                          | CUSIP: 19416MAA7<br>LEI: 549300QRLZK0B17DH791 | Long             | DBT              | CORP              | US        |    276000 | PA      | $273604.87    | 0.07%             | 2026-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                           | Wyndham Hotels & Resorts, Inc.                           | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    214000 | PA      | $191371.95    | 0.05%             | 2028-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Oxford Finance LLC                                       | Oxford Finance LLC                                       | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $215407.50    | 0.05%             | 2027-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                 | SCIH Salt Holdings, Inc.                                 | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    411000 | PA      | $366817.50    | 0.09%             | 2028-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                               | LABL, Inc.                                               | CUSIP: 50168AAB6<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    528000 | PA      | $504240.00    | 0.12%             | 2026-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Connect Finco SARL                                       | Connect Finco SARL                                       | CUSIP: 20752TAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $661500.00    | 0.16%             | 2026-10-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| SLM Corp.                                                | SLM Corp.                                                | CUSIP: 78442PGD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    303000 | PA      | $278002.50    | 0.07%             | 2025-10-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                     | Ally Financial, Inc.                                     | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    396000 | PA      | $390719.91    | 0.09%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1018000 | PA      | $975193.10    | 0.23%             | 2027-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Qwest Corp.                                              | Qwest Corp.                                              | CUSIP: 912920AK1<br>LEI: 549300R2L4N683OO1509 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139300.00    | 0.03%             | 2025-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Valvoline, Inc.                                          | Valvoline, Inc.                                          | CUSIP: 92047WAD3<br>LEI: 549300CMHPBEY6VPOT75 | Long             | DBT              | CORP              | US        |    323000 | PA      | $313926.57    | 0.08%             | 2030-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| JB Poindexter & Co., Inc.                                | JB Poindexter & Co., Inc.                                | CUSIP: 730481AJ7<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    223000 | PA      | $215487.13    | 0.05%             | 2026-04-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                | Darling Ingredients, Inc.                                | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    188000 | PA      | $181955.80    | 0.04%             | 2027-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    926000 | PA      | $876449.74    | 0.21%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                    | WR Grace Holdings LLC                                    | CUSIP: 92943GAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    548000 | PA      | $490980.60    | 0.12%             | 2027-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                  | Chesapeake Energy Corp.                                  | CUSIP: 165167DF1<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    772000 | PA      | $744935.04    | 0.18%             | 2026-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                | First Student Bidco, Inc.                                | CUSIP: 337120AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    511000 | PA      | $424130.00    | 0.10%             | 2029-07-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                      | Hilcorp Energy I LP                                      | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    755000 | PA      | $693716.65    | 0.17%             | 2031-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Chemours Co. (The)                                       | Chemours Co. (The)                                       | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   1229000 | PA      | $1079387.69   | 0.26%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Atkore, Inc.                                             | Atkore, Inc.                                             | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |    184000 | PA      | $155020.00    | 0.04%             | 2031-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                               | Melco Resorts Finance Ltd.                               | CUSIP: 58547DAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    750000 | PA      | $611250.00    | 0.15%             | 2028-07-21      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Olin Corp.                                               | Olin Corp.                                               | CUSIP: 680665AL0<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    300000 | PA      | $282390.05    | 0.07%             | 2029-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Superior Plus LP                                         | Superior Plus LP                                         | CUSIP: 86828LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    294000 | PA      | $251061.50    | 0.06%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                               | Avis Budget Car Rental LLC                               | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $215710.08    | 0.05%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1170000 | PA      | $869994.45    | 0.21%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    505000 | PA      | $403823.25    | 0.10%             | 2031-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Ashland LLC                                              | Ashland LLC                                              | CUSIP: 04433LAA0<br>LEI: 6O4MRU8C1MS0K34UQF79 | Long             | DBT              | CORP              | US        |    254000 | PA      | $203420.68    | 0.05%             | 2031-09-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| James Hardie International Finance DAC                   | James Hardie International Finance DAC                   | CUSIP: 47032FAB5<br>LEI: 635400G32A4Q1LVQ8M88 | Long             | DBT              | CORP              | IE        |    300000 | PA      | $275989.48    | 0.07%             | 2028-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                               | Lamb Weston Holdings, Inc.                               | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    962000 | PA      | $906790.82    | 0.22%             | 2028-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                | Zayo Group Holdings, Inc.                                | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    421000 | PA      | $301549.67    | 0.07%             | 2027-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Outfront Media Capital LLC                               | Outfront Media Capital LLC                               | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    152000 | PA      | $126920.00    | 0.03%             | 2029-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil Corp.                                         | Murphy Oil Corp.                                         | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    236000 | PA      | $183367.58    | 0.04%             | 2042-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Louisiana-Pacific Corp.                                  | Louisiana-Pacific Corp.                                  | CUSIP: 546347AM7<br>LEI: 549300C7E2UAO5BVRR75 | Long             | DBT              | CORP              | US        |    190000 | PA      | $158182.56    | 0.04%             | 2029-03-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| HealthEquity, Inc.                                       | HealthEquity, Inc.                                       | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    169000 | PA      | $148060.90    | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                    | Sirius XM Radio, Inc.                                    | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    875000 | PA      | $816585.00    | 0.20%             | 2027-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                 | Comstock Resources, Inc.                                 | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1108497.75   | 0.27%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Emergent BioSolutions, Inc.                              | Emergent BioSolutions, Inc.                              | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |    188000 | PA      | $84600.00     | 0.02%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Travel + Leisure Co.                                     | Travel + Leisure Co.                                     | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    511000 | PA      | $479145.24    | 0.11%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Scientific Games International, Inc.                     | Scientific Games International, Inc.                     | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    575000 | PA      | $563144.94    | 0.13%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Gates Global LLC                                         | Gates Global LLC                                         | CUSIP: 36740LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    223000 | PA      | $215018.83    | 0.05%             | 2026-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Hawaiian Brand Intellectual Property Ltd.                | Hawaiian Brand Intellectual Property Ltd.                | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    437111 | PA      | $414267.58    | 0.10%             | 2026-01-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                  | Sensata Technologies BV                                  | CUSIP: 81725WAJ2<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    480000 | PA      | $469031.72    | 0.11%             | 2025-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                       | Arches Buyer, Inc.                                       | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    374000 | PA      | $307671.10    | 0.07%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                             | Rockies Express Pipeline LLC                             | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    409000 | PA      | $367778.15    | 0.09%             | 2029-07-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Radiate Holdco LLC                                       | Radiate Holdco LLC                                       | CUSIP: 75026JAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211000 | PA      | $113876.70    | 0.03%             | 2028-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                    | Coinbase Global, Inc.                                    | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    201000 | PA      | $108540.00    | 0.03%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Waste Pro USA, Inc.                                      | Waste Pro USA, Inc.                                      | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    188000 | PA      | $173503.32    | 0.04%             | 2026-02-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Kaiser Aluminum Corp.                                    | Kaiser Aluminum Corp.                                    | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    224000 | PA      | $189138.88    | 0.05%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                            | Novelis Corp.                                            | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    184000 | PA      | $164415.72    | 0.04%             | 2026-11-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    756000 | PA      | $643545.00    | 0.15%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                         | Goodyear Tire & Rubber Co. (The)                         | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1300108.70   | 0.31%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Iliad Holding SASU                                       | Iliad Holding SASU                                       | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    550000 | PA      | $523184.68    | 0.13%             | 2026-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| G-III Apparel Group Ltd.                                 | G-III Apparel Group Ltd.                                 | CUSIP: 36237HAA9<br>LEI: 529900O5KABM3R3SFM87 | Long             | DBT              | CORP              | US        |    111000 | PA      | $107531.25    | 0.03%             | 2025-08-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Ken Garff Automotive LLC                                 | Ken Garff Automotive LLC                                 | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133000 | PA      | $112545.10    | 0.03%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Life Time, Inc.                                          | Life Time, Inc.                                          | CUSIP: 53190FAC9<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    190000 | PA      | $171578.94    | 0.04%             | 2026-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                        | Alliant Holdings Intermediate LLC                        | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $290700.00    | 0.07%             | 2027-10-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                     | Frontier Communications Holdings LLC                     | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    788000 | PA      | $749797.76    | 0.18%             | 2027-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Realogy Group LLC                                        | Realogy Group LLC                                        | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    586000 | PA      | $448243.12    | 0.11%             | 2029-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                | Sunoco LP                                                | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    726000 | PA      | $629884.86    | 0.15%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                      | Hilcorp Energy I LP                                      | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    696000 | PA      | $662809.50    | 0.16%             | 2028-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP                          | Crestwood Midstream Partners LP                          | CUSIP: 67421QAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    324000 | PA      | $326430.00    | 0.08%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Southwestern Energy Co.                                  | Southwestern Energy Co.                                  | CUSIP: 845467AN9<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154319.67    | 0.04%             | 2027-10-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                            | SM Energy Co.                                            | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    441000 | PA      | $432180.00    | 0.10%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                            | Navient Corp.                                            | CUSIP: 63938CAE8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210018.14    | 0.05%             | 2023-09-25      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                      | Nexstar Media, Inc.                                      | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    359000 | PA      | $319481.28    | 0.08%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Masonite International Corp.                             | Masonite International Corp.                             | CUSIP: 575385AD1<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |    405000 | PA      | $366989.13    | 0.09%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $856801.00    | 0.21%             | 2028-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                   | Ardagh Metal Packaging Finance USA LLC                   | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $295148.75    | 0.07%             | 2028-09-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                              | Allied Universal Holdco LLC                              | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1426000 | PA      | $1354700.00   | 0.32%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| EnLink Midstream Partners LP                             | EnLink Midstream Partners LP                             | CUSIP: 29336UAG2<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    407000 | PA      | $329670.00    | 0.08%             | 2047-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                                   | Antero Resources Corp.                                   | CUSIP: 03674XAN6<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    485000 | PA      | $510199.86    | 0.12%             | 2026-07-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                            | Clearway Energy Operating LLC                            | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    423000 | PA      | $358361.37    | 0.09%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                             | Mueller Water Products, Inc.                             | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |    245000 | PA      | $210740.64    | 0.05%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                     | Clear Channel Outdoor Holdings, Inc.                     | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    934000 | PA      | $693495.00    | 0.17%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Glatfelter Corp.                                         | Glatfelter Corp.                                         | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    190000 | PA      | $123975.00    | 0.03%             | 2029-11-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Theme Parks, Inc.                              | Six Flags Theme Parks, Inc.                              | CUSIP: 83001WAC8<br>LEI: 5493003MX0ZXTM8EVY68 | Long             | DBT              | CORP              | US        |    405000 | PA      | $406002.79    | 0.10%             | 2025-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Hughes Satellite Systems Corp.                           | Hughes Satellite Systems Corp.                           | CUSIP: 444454AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159000 | PA      | $151777.03    | 0.04%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                     | Icahn Enterprises LP                                     | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1015000 | PA      | $934804.85    | 0.22%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                          | Madison IAQ LLC                                          | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    184000 | PA      | $159121.36    | 0.04%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| HAT Holdings I LLC                                       | HAT Holdings I LLC                                       | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    423000 | PA      | $367929.63    | 0.09%             | 2026-06-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                       | Vodafone Group plc                                       | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    876000 | PA      | $872679.96    | 0.21%             | 2079-04-04      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Virgin Media Vendor Financing Notes IV DAC               | Virgin Media Vendor Financing Notes IV DAC               | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |    550000 | PA      | $471493.00    | 0.11%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Midwest Gaming Borrower LLC                              | Midwest Gaming Borrower LLC                              | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $271142.14    | 0.06%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Mattel, Inc.                                             | Mattel, Inc.                                             | CUSIP: 577081BF8<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    190000 | PA      | $166377.30    | 0.04%             | 2029-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                      | NuStar Logistics LP                                      | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    893000 | PA      | $839743.17    | 0.20%             | 2027-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| International Game Technology plc                        | International Game Technology plc                        | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $565038.00    | 0.14%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Arconic Corp.                                            | Arconic Corp.                                            | CUSIP: 03966VAA5<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    619000 | PA      | $581210.05    | 0.14%             | 2028-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                | EQM Midstream Partners LP                                | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    422000 | PA      | $370895.80    | 0.09%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Metis Merger Sub LLC                                     | Metis Merger Sub LLC                                     | CUSIP: 59155LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $191052.00    | 0.05%             | 2029-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                               | iHeartCommunications, Inc.                               | CUSIP: 45174HBC0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    918417 | PA      | $868645.83    | 0.21%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| American Builders & Contractors Supply Co., Inc.         | American Builders & Contractors Supply Co., Inc.         | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |    488000 | PA      | $441644.88    | 0.11%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                            | TerraForm Power Operating LLC                            | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    378000 | PA      | $350595.00    | 0.08%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc.                                            | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    495000 | PA      | $361899.45    | 0.09%             | 2027-04-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                              | IQVIA, Inc.                                              | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    800000 | PA      | $770000.00    | 0.18%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund               | JPMorgan U.S. Government Money Market Fund, Class IM     | CUSIP: 4812C2270<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | STIV             | RF                | US        |   9669761 | NS      | $9669761.14   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Pike Corp.                                               | Pike Corp.                                               | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    431000 | PA      | $385029.54    | 0.09%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United States Cellular Corp.                             | United States Cellular Corp.                             | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |    131000 | PA      | $114594.87    | 0.03%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC                               | Outfront Media Capital LLC                               | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    490000 | PA      | $446512.50    | 0.11%             | 2027-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Rockcliff Energy II LLC                                  | Rockcliff Energy II LLC                                  | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    231000 | PA      | $211942.50    | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                     | Xerox Holdings Corp.                                     | CUSIP: 98421MAB2<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    162000 | PA      | $130377.60    | 0.03%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ACI Worldwide, Inc.                                      | ACI Worldwide, Inc.                                      | CUSIP: 004498AB7<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | DBT              | CORP              | US        |    214000 | PA      | $204370.00    | 0.05%             | 2026-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Stagwell Global LLC                                      | Stagwell Global LLC                                      | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    421000 | PA      | $361007.50    | 0.09%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                    | WMG Acquisition Corp.                                    | CUSIP: 92933BAQ7<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |    433000 | PA      | $375267.94    | 0.09%             | 2030-07-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Seagate HDD Cayman                                       | Seagate HDD Cayman                                       | CUSIP: 81180WBD2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    966000 | PA      | $755228.03    | 0.18%             | 2031-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Corp. (The)                             | Dun & Bradstreet Corp. (The)                             | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |    214000 | PA      | $184114.90    | 0.04%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                         | Sealed Air Corp.                                         | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    423000 | PA      | $414397.03    | 0.10%             | 2033-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    508000 | PA      | $502057.66    | 0.12%             | 2025-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Travel + Leisure Co.                                     | Travel + Leisure Co.                                     | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    307000 | PA      | $300812.54    | 0.07%             | 2026-07-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| SRS Distribution, Inc.                                   | SRS Distribution, Inc.                                   | CUSIP: 78471RAB2<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    324000 | PA      | $289558.80    | 0.07%             | 2028-07-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Fortress Transportation and Infrastructure Investors LLC | Fortress Transportation and Infrastructure Investors LLC | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    465000 | PA      | $404563.95    | 0.10%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Gartner, Inc.                                            | Gartner, Inc.                                            | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    697000 | PA      | $656169.74    | 0.16%             | 2028-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Navient Corp.                                            | Navient Corp.                                            | CUSIP: 63938CAB4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1056000 | PA      | $1025997.24   | 0.25%             | 2024-10-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Roller Bearing Co. of America, Inc.                      | Roller Bearing Co. of America, Inc.                      | CUSIP: 775631AD6<br>LEI: 254900U9XW6S76H2P167 | Long             | DBT              | CORP              | US        |    190000 | PA      | $166392.50    | 0.04%             | 2029-10-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                 | Lumen Technologies, Inc.                                 | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    461000 | PA      | $325581.25    | 0.08%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Sprint LLC                                               | Sprint LLC                                               | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    208000 | PA      | $218760.26    | 0.05%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                 | Group 1 Automotive, Inc.                                 | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    232000 | PA      | $196793.89    | 0.05%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Global Net Lease, Inc.                                   | Global Net Lease, Inc.                                   | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    134000 | PA      | $110859.86    | 0.03%             | 2027-12-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                      | Ascent Resources Utica Holdings LLC                      | CUSIP: 04364VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $490125.40    | 0.12%             | 2026-11-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                           | JELD-WEN, Inc.                                           | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    472000 | PA      | $369731.76    | 0.09%             | 2027-12-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| VistaJet Malta Finance plc                               | VistaJet Malta Finance plc                               | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    790000 | PA      | $647800.00    | 0.16%             | 2030-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Park River Holdings, Inc.                                | Park River Holdings, Inc.                                | CUSIP: 70082LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $158340.00    | 0.04%             | 2029-02-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                          | Madison IAQ LLC                                          | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    684000 | PA      | $505975.32    | 0.12%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                        | Hillenbrand, Inc.                                        | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |    512000 | PA      | $416000.00    | 0.10%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                  | Southwestern Energy Co.                                  | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   1704000 | PA      | $1602100.80   | 0.38%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Berry Global, Inc.                                       | Berry Global, Inc.                                       | CUSIP: 085770AB1<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    272000 | PA      | $266560.00    | 0.06%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Radiology Partners, Inc.                                 | Radiology Partners, Inc.                                 | CUSIP: 75041VAA2<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    228000 | PA      | $136913.28    | 0.03%             | 2028-02-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                             | Royal Caribbean Cruises Ltd.                             | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1330000 | PA      | $1426425.00   | 0.34%             | 2025-06-01      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Pactiv LLC                                               | Pactiv LLC                                               | CUSIP: 880394AB7<br>LEI: 549300O4WTC6DL4JIE57 | Long             | DBT              | CORP              | US        |    140000 | PA      | $131129.16    | 0.03%             | 2025-12-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                             | Rockies Express Pipeline LLC                             | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    162000 | PA      | $134460.00    | 0.03%             | 2040-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                   | Howmet Aerospace, Inc.                                   | CUSIP: 013817AJ0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495000.00    | 0.12%             | 2027-02-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CoreCivic, Inc.                                          | CoreCivic, Inc.                                          | CUSIP: 21871NAB7<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    441000 | PA      | $450502.91    | 0.11%             | 2026-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                             | DaVita, Inc.                                             | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1256000 | PA      | $1016706.88   | 0.24%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| NFP Corp.                                                | NFP Corp.                                                | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    752000 | PA      | $636064.16    | 0.15%             | 2028-08-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Cable One, Inc.                                          | Cable One, Inc.                                          | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    254000 | PA      | $204650.34    | 0.05%             | 2030-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                           | Uniti Group LP                                           | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    687000 | PA      | $503227.50    | 0.12%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                           | NCL Corp. Ltd.                                           | CUSIP: 62886HAP6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    223000 | PA      | $194589.80    | 0.05%             | 2024-12-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| ACCO Brands Corp.                                        | ACCO Brands Corp.                                        | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |    230000 | PA      | $192144.30    | 0.05%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                     | Frontier Communications Holdings LLC                     | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    779000 | PA      | $654461.27    | 0.16%             | 2029-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Catalent Pharma Solutions, Inc.                          | Catalent Pharma Solutions, Inc.                          | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    340000 | PA      | $323935.00    | 0.08%             | 2027-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                               | Edgewell Personal Care Co.                               | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    424000 | PA      | $399526.35    | 0.10%             | 2028-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                           | Consolidated Energy Finance SA                           | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $174750.00    | 0.04%             | 2028-10-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| CNX Resources Corp.                                      | CNX Resources Corp.                                      | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    387000 | PA      | $387208.98    | 0.09%             | 2031-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| National CineMedia LLC                                   | National CineMedia LLC                                   | CUSIP: 63530QAJ8<br>LEI: 7LJEQIVQVLNGS4X6T547 | Long             | DBT              | CORP              | US        |    164000 | PA      | $57364.47     | 0.01%             | 2028-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                             | Hess Midstream Operations LP                             | CUSIP: 428102AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $170057.27    | 0.04%             | 2026-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                         | Altice France SA                                         | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2550000 | PA      | $2125195.50   | 0.51%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                              | McGraw-Hill Education, Inc.                              | CUSIP: 57767XAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $196856.64    | 0.05%             | 2029-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                           | DISH DBS Corp.                                           | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    538000 | PA      | $450628.80    | 0.11%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    726000 | PA      | $700590.00    | 0.17%             | 2025-02-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                           | NCL Corp. Ltd.                                           | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    754000 | PA      | $618492.05    | 0.15%             | 2026-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| USA Compression Partners LP                              | USA Compression Partners LP                              | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $397362.50    | 0.10%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                             | MPH Acquisition Holdings LLC                             | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    374000 | PA      | $298739.98    | 0.07%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PM General Purchaser LLC                                 | PM General Purchaser LLC                                 | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    256000 | PA      | $224566.57    | 0.05%             | 2028-10-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Elastic NV                                               | Elastic NV                                               | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    204000 | PA      | $165838.04    | 0.04%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| FirstCash, Inc.                                          | FirstCash, Inc.                                          | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    314000 | PA      | $285626.65    | 0.07%             | 2030-01-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                       | United Rentals North America, Inc.                       | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1112509.60   | 0.27%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                            | Penske Automotive Group, Inc.                            | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |    321000 | PA      | $270111.87    | 0.06%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMN Healthcare, Inc.                                     | AMN Healthcare, Inc.                                     | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |    279000 | PA      | $257924.63    | 0.06%             | 2027-10-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                         | Cooper-Standard Automotive, Inc.                         | CUSIP: 216762AG9<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |    192000 | PA      | $200855.49    | 0.05%             | 2024-06-01      | Fixed         | 13.00%                | Yes           |                  2 | On Loan: No      |
| Moog, Inc.                                               | Moog, Inc.                                               | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |    207000 | PA      | $185782.50    | 0.04%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                  | GFL Environmental, Inc.                                  | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   1145000 | PA      | $1002825.35   | 0.24%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ingevity Corp.                                           | Ingevity Corp.                                           | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |    391000 | PA      | $333327.50    | 0.08%             | 2028-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                 | WESCO Distribution, Inc.                                 | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    850000 | PA      | $861092.50    | 0.21%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                    | Las Vegas Sands Corp.                                    | CUSIP: 517834AH0<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   1012000 | PA      | $934457.78    | 0.22%             | 2025-06-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                | Vistra Operations Co. LLC                                | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    416000 | PA      | $372182.20    | 0.09%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                               | Garda World Security Corp.                               | CUSIP: 36257BAA7<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    566000 | PA      | $523603.16    | 0.13%             | 2027-11-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Tronox, Inc.                                             | Tronox, Inc.                                             | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    743000 | PA      | $598256.17    | 0.14%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                    | Sirius XM Radio, Inc.                                    | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1722000 | PA      | $1603354.20   | 0.38%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                              | Block, Inc.                                              | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    525000 | PA      | $426042.75    | 0.10%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599EB7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1184000 | PA      | $1194804.00   | 0.29%             | 2025-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Steel Corp.                                | United States Steel Corp.                                | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |    117000 | PA      | $114121.80    | 0.03%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Cedar Fair LP                                            | Cedar Fair LP                                            | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    605000 | PA      | $603076.10    | 0.14%             | 2025-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                             | Rockies Express Pipeline LLC                             | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    582000 | PA      | $495008.58    | 0.12%             | 2030-05-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                        | Clarios Global LP                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    916000 | PA      | $896403.92    | 0.21%             | 2027-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Rain CII Carbon LLC                                      | Rain CII Carbon LLC                                      | CUSIP: 75079RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $327614.40    | 0.08%             | 2025-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia SpA                                       | Telecom Italia SpA                                       | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    926000 | PA      | $896831.00    | 0.21%             | 2024-05-30      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                            | SM Energy Co.                                            | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    416000 | PA      | $404700.32    | 0.10%             | 2025-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Hilton Worldwide Finance LLC                             | Hilton Worldwide Finance LLC                             | CUSIP: 432891AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1013000 | PA      | $974374.31    | 0.23%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Herbalife Nutrition Ltd.                                 | Herbalife Nutrition Ltd.                                 | CUSIP: 42704MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $284986.50    | 0.07%             | 2025-09-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                              | Block, Inc.                                              | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    536000 | PA      | $479023.20    | 0.11%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| AmeriGas Partners LP                                     | AmeriGas Partners LP                                     | CUSIP: 030981AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1374000 | PA      | $1308735.00   | 0.31%             | 2026-08-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CrownRock LP                                             | CrownRock LP                                             | CUSIP: 228701AG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    323000 | PA      | $297369.95    | 0.07%             | 2029-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Residential Properties, Inc.                  | Brookfield Residential Properties, Inc.                  | CUSIP: 11283YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    416000 | PA      | $370232.15    | 0.09%             | 2027-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                  | Nabors Industries, Inc.                                  | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    539000 | PA      | $524177.50    | 0.13%             | 2027-05-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    717000 | PA      | $821861.25    | 0.20%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                         | Goodyear Tire & Rubber Co. (The)                         | CUSIP: 382550BF7<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    259000 | PA      | $248875.86    | 0.06%             | 2026-05-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                | Standard Industries, Inc.                                | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1761000 | PA      | $1596020.72   | 0.38%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Fair Isaac Corp.                                         | Fair Isaac Corp.                                         | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    233000 | PA      | $213195.00    | 0.05%             | 2028-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Radiate Holdco LLC                                       | Radiate Holdco LLC                                       | CUSIP: 75026JAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $256757.80    | 0.06%             | 2026-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Western Midstream Operating LP                           | Western Midstream Operating LP                           | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    692000 | PA      | $568574.92    | 0.14%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                      | Rocket Mortgage LLC                                      | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1139000 | PA      | $881067.76    | 0.21%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                 | AthenaHealth Group, Inc.                                 | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    722000 | PA      | $540707.24    | 0.13%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $919350.00    | 0.22%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                    | OneMain Finance Corp.                                    | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   3258000 | PA      | $3156334.11   | 0.76%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp.                                        | Lamar Media Corp.                                        | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $201706.89    | 0.05%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cedar Fair LP                                            | Cedar Fair LP                                            | CUSIP: 150190AE6<br>LEI: 549300TUVLNQQ6BVKH61 | Long             | DBT              | CORP              | US        |    410000 | PA      | $358166.59    | 0.09%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                               | Macy's Retail Holdings LLC                               | CUSIP: 55617LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    673000 | PA      | $625990.95    | 0.15%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Telesat Canada                                           | Telesat Canada                                           | CUSIP: 87952VAR7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    313000 | PA      | $147622.40    | 0.04%             | 2026-12-06      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Mattel, Inc.                                             | Mattel, Inc.                                             | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    219000 | PA      | $172462.50    | 0.04%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                        | Alliant Holdings Intermediate LLC                        | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    603000 | PA      | $555420.29    | 0.13%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| EnLink Midstream Partners LP                             | EnLink Midstream Partners LP                             | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    416000 | PA      | $397280.00    | 0.10%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP                     | Ladder Capital Finance Holdings LLLP                     | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1526000 | PA      | $1331435.00   | 0.32%             | 2027-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Crown Americas LLC                                       | Crown Americas LLC                                       | CUSIP: 228180AA3<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    247000 | PA      | $228475.00    | 0.05%             | 2030-04-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                              | Adient Global Holdings Ltd.                              | CUSIP: 00687YAA3<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    350000 | PA      | $326693.50    | 0.08%             | 2026-08-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Borrower Escrow LLC               | Hilton Grand Vacations Borrower Escrow LLC               | CUSIP: 43284MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $360226.88    | 0.09%             | 2029-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                | Ford Motor Credit Co. LLC                                | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3824831.61   | 0.92%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Northwest Fiber LLC                                      | Northwest Fiber LLC                                      | CUSIP: 667449AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    136000 | PA      | $127840.00    | 0.03%             | 2028-06-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                            | Wesco Aircraft Holdings, Inc.                            | CUSIP: 97789LAC0<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |   1588000 | PA      | $786060.00    | 0.19%             | 2024-11-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                          | Trinseo Materials Operating SCA                          | CUSIP: 89668QAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    413000 | PA      | $330916.25    | 0.08%             | 2025-09-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                  | Level 3 Financing, Inc.                                  | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $893050.00    | 0.21%             | 2027-09-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                      | Medline Borrower LP                                      | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    957000 | PA      | $779955.00    | 0.19%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| William Carter Co. (The)                                 | William Carter Co. (The)                                 | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |    220000 | PA      | $210978.49    | 0.05%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| New Fortress Energy, Inc.                                | New Fortress Energy, Inc.                                | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    876000 | PA      | $855615.48    | 0.21%             | 2025-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                            | Six Flags Entertainment Corp.                            | CUSIP: 83001AAC6<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |    416000 | PA      | $375623.04    | 0.09%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| VOC Escrow Ltd.                                          | VOC Escrow Ltd.                                          | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    592000 | PA      | $510232.96    | 0.12%             | 2028-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Everi Holdings, Inc.                                     | Everi Holdings, Inc.                                     | CUSIP: 30034TAA1<br>LEI: 5299006DK5S7BG10K532 | Long             | DBT              | CORP              | US        |    136000 | PA      | $117820.74    | 0.03%             | 2029-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc.                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1822009 | PA      | $1696198.33   | 0.41%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                     | Frontier Communications Holdings LLC                     | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    508000 | PA      | $452120.00    | 0.11%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MEG Energy Corp.                                         | MEG Energy Corp.                                         | CUSIP: 552704AF5<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |    324000 | PA      | $307476.00    | 0.07%             | 2029-02-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hanesbrands, Inc.                                        | Hanesbrands, Inc.                                        | CUSIP: 410345AJ1<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    315000 | PA      | $305550.00    | 0.07%             | 2024-05-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Nokia OYJ                                                | Nokia OYJ                                                | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    162000 | PA      | $153611.72    | 0.04%             | 2039-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                          | Live Nation Entertainment, Inc.                          | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    372000 | PA      | $366185.64    | 0.09%             | 2024-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BJ0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2311000 | PA      | $2255709.33   | 0.54%             | 2027-08-01      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                            | Netflix, Inc.                                            | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   2915000 | PA      | $2944762.15   | 0.71%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                    | Prestige Brands, Inc.                                    | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    293000 | PA      | $276152.50    | 0.07%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                    | Global Infrastructure Solutions, Inc.                    | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |    330000 | PA      | $255750.00    | 0.06%             | 2029-06-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Constellium SE                                           | Constellium SE                                           | CUSIP: 21039CAA2<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $320058.28    | 0.08%             | 2028-06-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                  | Level 3 Financing, Inc.                                  | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    603000 | PA      | $472142.54    | 0.11%             | 2028-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ROBLOX Corp.                                             | ROBLOX Corp.                                             | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    282000 | PA      | $230754.96    | 0.06%             | 2030-05-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Sands China Ltd.                                         | Sands China Ltd.                                         | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $922500.00    | 0.22%             | 2028-08-08      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                                   | ON Semiconductor Corp.                                   | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    345000 | PA      | $305908.05    | 0.07%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                    | Churchill Downs, Inc.                                    | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    313000 | PA      | $297676.83    | 0.07%             | 2027-04-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                            | Organon & Co.                                            | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625000 | PA      | $554631.25    | 0.13%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                           | 1011778 BC ULC                                           | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1497000 | PA      | $1336053.76   | 0.32%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| CDI Escrow Issuer, Inc.                                  | CDI Escrow Issuer, Inc.                                  | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    471000 | PA      | $436913.73    | 0.10%             | 2030-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Open Text Corp.                                          | Open Text Corp.                                          | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    223000 | PA      | $188089.35    | 0.05%             | 2028-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                  | Molina Healthcare, Inc.                                  | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    825000 | PA      | $757003.50    | 0.18%             | 2028-06-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                | NCR Corp.                                                | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   1244000 | PA      | $1206680.00   | 0.29%             | 2029-09-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                 | Spirit AeroSystems, Inc.                                 | CUSIP: 85205TAK6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    232000 | PA      | $179892.28    | 0.04%             | 2028-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Summer BC Bidco B LLC                                    | Summer BC Bidco B LLC                                    | CUSIP: 865632AA1<br>LEI: 213800CCW2O2WZ7YV169 | Long             | DBT              | CORP              | US        |    350000 | PA      | $281750.00    | 0.07%             | 2026-10-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Brink's Co. (The)                                        | Brink's Co. (The)                                        | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    458000 | PA      | $421124.02    | 0.10%             | 2027-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                   | Aramark Services, Inc.                                   | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    564000 | PA      | $562883.28    | 0.13%             | 2025-05-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Penn Entertainment, Inc.                                 | Penn Entertainment, Inc.                                 | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    376000 | PA      | $306440.00    | 0.07%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                         | Goodyear Tire & Rubber Co. (The)                         | CUSIP: 382550BJ9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    575000 | PA      | $491625.00    | 0.12%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 071734AC1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1241000 | PA      | $806453.55    | 0.19%             | 2027-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HAT Holdings I LLC                                       | HAT Holdings I LLC                                       | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $165846.64    | 0.04%             | 2030-09-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Operating Partners LP                     | NextEra Energy Operating Partners LP                     | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    846000 | PA      | $796297.50    | 0.19%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Xerox Corp.                                              | Xerox Corp.                                              | CUSIP: 984121CB7<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |    304000 | PA      | $233950.39    | 0.06%             | 2039-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Life Time, Inc.                                          | Life Time, Inc.                                          | CUSIP: 53190FAA3<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    307000 | PA      | $295201.99    | 0.07%             | 2026-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                      | Buckeye Partners LP                                      | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    628000 | PA      | $554210.00    | 0.13%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TripAdvisor, Inc.                                        | TripAdvisor, Inc.                                        | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |    232000 | PA      | $229127.11    | 0.05%             | 2025-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                           | NCL Corp. Ltd.                                           | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    296000 | PA      | $263537.68    | 0.06%             | 2027-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Premier Entertainment Sub LLC                            | Premier Entertainment Sub LLC                            | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    423000 | PA      | $338400.00    | 0.08%             | 2029-09-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                           | Uniti Group LP                                           | CUSIP: 91327AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    905000 | PA      | $908803.72    | 0.22%             | 2025-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2982000 | PA      | $1220442.42   | 0.29%             | 2028-01-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                | Ford Motor Credit Co. LLC                                | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   7700000 | PA      | $7025249.00   | 1.68%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Summit Midstream Holdings LLC                            | Summit Midstream Holdings LLC                            | CUSIP: 86614WAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    391000 | PA      | $375272.61    | 0.09%             | 2026-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                    | Albertsons Cos., Inc.                                    | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    695000 | PA      | $664572.90    | 0.16%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                               | Ball Corp.                                               | CUSIP: 058498AX4<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   1266000 | PA      | $1005835.87   | 0.24%             | 2031-09-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Match Group Holdings II LLC                              | Match Group Holdings II LLC                              | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    667000 | PA      | $596564.42    | 0.14%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                 | Spirit AeroSystems, Inc.                                 | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    849000 | PA      | $839873.25    | 0.20%             | 2025-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

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

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer