# EDGAR Filing Document

**Accession Number:** 0001676326
**File Stem:** 0001752724-25-197795
**Filing Date:** 2025-8
**Character Count:** 87316
**Document Hash:** 7a193223965f8821a1f4fb6b4170877d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-197795.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001752724-25-197795

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley ETF Trust
- **CENTRAL INDEX KEY:** 0001676326

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23820
- **FILM NUMBER:** 251242343

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212.296.1404

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Series and Classes Contracts Data

### Parametric Hedged Equity ETF (Series ID: S000082250)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000245534 | Parametric Hedged Equity ETF | PHEQ            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Morgan Stanley ETF Trust

- **b. Investment Company Act file number:** 811-23820

- **c. CIK number of Registrant:** 0001676326

- **d. LEI of Registrant:** 549300HASXQLXGOR9H31

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

  - **Street Address 1:** 1585 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 800-548-7786

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

- **a. Name of Series:** Parametric Hedged Equity ETF

- **b. EDGAR series identifier (if any):** S000082250

- **c. LEI of Series:** 254900XRLOHBK8NZYW62

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $105472656.61

**Total Liabilities:** $2718664.42

**Net Assets:** $102753992.19

**Cash Not Reported:** $148728.41

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000245534 | -0.35%               | 4.17%                | 3.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1917497.45             | $1974464.96                                |
| Month 2  | $230983.29               | $5108309.89                                |
| Month 3  | $640474.56               | $4016699.20                                |

**Designated Index Information**

- **Index Name:** S&P 500 Index

- **Index Identifier:** SPX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Brown & Brown, Inc.                          | Brown & Brown, Inc.                                                                       | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |      2748 | NS      | $304670.76    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                 | Oracle Corp.                                                                              | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      3657 | NS      | $799529.91    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                          | Synchrony Financial                                                                       | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      3161 | NS      | $210965.14    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                           | Lam Research Corp.                                                                        | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      3096 | NS      | $301364.64    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | Exxon Mobil Corp.                                                                         | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     11282 | NS      | $1216199.60   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                               | Alphabet, Inc., Class A                                                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     11733 | NS      | $2067706.59   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington, Inc. | Expeditors International of Washington, Inc.                                              | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |      1875 | NS      | $214218.75    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                                | Walmart, Inc.                                                                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     10433 | NS      | $1020138.74   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group, Inc.              | Interactive Brokers Group, Inc., Class A                                                  | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      2000 | NS      | $110820.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH plc                                      | CRH plc                                                                                   | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |      1279 | NS      | $117412.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings, Inc.                        | PayPal Holdings, Inc.                                                                     | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      2436 | NS      | $181043.52    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings, Inc.                   | Crowdstrike Holdings, Inc., Class A                                                       | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       859 | NS      | $437497.29    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management, Inc.                       | Waste Management, Inc.                                                                    | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      1953 | NS      | $446885.46    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology, Inc.                   | Microchip Technology, Inc.                                                                | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      5150 | NS      | $362405.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets, Inc.                      | Robinhood Markets, Inc., Class A                                                          | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |       841 | NS      | $78742.83     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corp.                                  | Loews Corp.                                                                               | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |      2753 | NS      | $252339.98    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, Inc.                                 | AMETEK, Inc.                                                                              | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      1417 | NS      | $256420.32    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp.                     | Warner Music Group Corp., Class A                                                         | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       737 | NS      | $20075.88     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares, Inc.                  | Huntington Bancshares, Inc.                                                               | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     14618 | NS      | $244997.68    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA Corp.                                                                              | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     43712 | NS      | $6906058.88   | 6.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | Amazon.com, Inc.                                                                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     18669 | NS      | $4095791.91   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos., Inc.                          | Carlisle Cos., Inc.                                                                       | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       358 | NS      | $133677.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust, Inc.                   | Essex Property Trust, Inc.                                                                | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |       611 | NS      | $173157.40    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                    | KLA Corp.                                                                                 | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       450 | NS      | $403083.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities, Inc.      | Mid-America Apartment Communities, Inc.                                                   | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      1670 | NS      | $247176.70    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co.                     | Bristol-Myers Squibb Co.                                                                  | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      8384 | NS      | $388095.36    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -40 | NC      | $-120.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                              | Eli Lilly & Co.                                                                           | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1938 | NS      | $1510729.14   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp.                        | Deckers Outdoor Corp.                                                                     | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      1787 | NS      | $184186.09    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -44 | NC      | $-127820.00   | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace, Inc.                       | Howmet Aerospace, Inc.                                                                    | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      3153 | NS      | $586867.89    | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Alphabet, Inc.                               | Alphabet, Inc., Class C                                                                   | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     10473 | NS      | $1857805.47   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp.                                  | Intel Corp.                                                                               | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     12022 | NS      | $269292.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.        | International Business Machines Corp.                                                     | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      2667 | NS      | $786178.26    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands, Inc.                   | Constellation Brands, Inc., Class A                                                       | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |       510 | NS      | $82966.80     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake, Inc.                              | Snowflake, Inc., Class A                                                                  | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |       457 | NS      | $102262.89    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                      | Republic Services, Inc., Class A                                                          | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      1616 | NS      | $398521.76    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                  | Apple, Inc.                                                                               | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     28682 | NS      | $5884685.94   | 5.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed, Inc.                                 | ResMed, Inc.                                                                              | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      1006 | NS      | $259548.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest, Inc.                              | Pinterest, Inc., Class A                                                                  | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1004 | NS      | $36003.44     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash, Inc.                               | DoorDash, Inc., Class A                                                                   | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |       728 | NS      | $179459.28    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma plc                           | Royalty Pharma plc, Class A                                                               | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |      1599 | NS      | $57611.97     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp.                           | Devon Energy Corp.                                                                        | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      5926 | NS      | $188506.06    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co. (The)                             | Boeing Co. (The)                                                                          | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      2901 | NS      | $607846.53    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities, Inc.                        | Sun Communities, Inc.                                                                     | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      1267 | NS      | $160262.83    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -40 | NC      | $-100.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy, Inc.                        | Cheniere Energy, Inc.                                                                     | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       999 | NS      | $243276.48    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores, Inc.                            | Ross Stores, Inc.                                                                         | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      2221 | NS      | $283355.18    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co.                         | American Express Co.                                                                      | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      1830 | NS      | $583733.40    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                        | Spotify Technology SA                                                                     | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |       411 | NS      | $315376.74    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        40 | NC      | $100.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                            | Johnson & Johnson                                                                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      6627 | NS      | $1012274.25   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                            | Merck & Co., Inc.                                                                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      4417 | NS      | $349649.72    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                             | Mastercard, Inc., Class A                                                                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      2065 | NS      | $1160406.10   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                               | DTE Energy Co.                                                                            | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      2401 | NS      | $318036.46    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                   | AT&T, Inc.                                                                                | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     25930 | NS      | $750414.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler, Inc.                                | Zscaler, Inc.                                                                             | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |       405 | NS      | $127145.70    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Las Vegas Sands Corp.                        | Las Vegas Sands Corp.                                                                     | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      1936 | NS      | $84235.36     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Tesla, Inc.                                  | Tesla, Inc.                                                                               | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      4638 | NS      | $1473307.08   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica, Inc.                    | Lululemon Athletica, Inc.                                                                 | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |       516 | NS      | $122591.28    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                   | Prudential Financial, Inc.                                                                | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      2817 | NS      | $302658.48    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.                     | Marvell Technology, Inc.                                                                  | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       692 | NS      | $53560.80     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics, Inc.                         | Steel Dynamics, Inc.                                                                      | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |       747 | NS      | $95623.47     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare, Inc.                      | Molina Healthcare, Inc.                                                                   | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |       461 | NS      | $137331.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings, Inc.                             | DraftKings, Inc., Class A                                                                 | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |      1805 | NS      | $77416.45     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co., Inc.                              | KKR & Co., Inc.                                                                           | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      1697 | NS      | $225751.91    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group, Inc. (The)         | Hartford Insurance Group, Inc. (The)                                                      | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      2760 | NS      | $350161.20    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery, Inc.                  | Warner Bros Discovery, Inc.                                                               | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     16186 | NS      | $185491.56    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot, Inc. (The)                       | Home Depot, Inc. (The)                                                                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      2674 | NS      | $980395.36    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina, Inc.                               | Illumina, Inc.                                                                            | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |       327 | NS      | $31199.07     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp.                                | Newmont Corp.                                                                             | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      4974 | NS      | $289785.24    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        43 | NC      | $326370.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos., Inc. (The)                   | Travelers Cos., Inc. (The)                                                                | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      1467 | NS      | $392481.18    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar, Inc.                            | First Solar, Inc.                                                                         | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |       433 | NS      | $71678.82     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe, Inc.                                  | Adobe, Inc.                                                                               | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      1004 | NS      | $388427.52    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co.                                  | Carvana Co., Class A                                                                      | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |       231 | NS      | $77837.76     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems, Inc.                          | Veeva Systems, Inc., Class A                                                              | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |       472 | NS      | $135926.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co.                          | Vertiv Holdings Co., Class A                                                              | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |       263 | NS      | $33771.83     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -44 | NC      | $-1486100.00  | -1.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International, Inc.                   | Lennox International, Inc.                                                                | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |       404 | NS      | $231588.96    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| ROBLOX Corp.                                 | ROBLOX Corp., Class A                                                                     | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2070 | NS      | $217764.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity plc                          | TE Connectivity plc                                                                       | CUSIP: N/A<br>LEI: 6367003TB6K484NFHE54       | Long             | EC               | CORP              | IE        |      2268 | NS      | $382543.56    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co.                                  | Deere & Co.                                                                               | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1068 | NS      | $543067.32    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group, Inc.                        | TransDigm Group, Inc.                                                                     | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       195 | NS      | $296524.80    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource, Inc.                   | Builders FirstSource, Inc.                                                                | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |       896 | NS      | $104554.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy, Inc.                     | Diamondback Energy, Inc.                                                                  | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |       542 | NS      | $74470.80     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb, Inc.                                 | Airbnb, Inc., Class A                                                                     | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      2624 | NS      | $347260.16    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                 | LyondellBasell Industries NV, Class A                                                     | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |       356 | NS      | $20598.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma, Inc.                        | Williams-Sonoma, Inc.                                                                     | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |       140 | NS      | $22871.80     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp.                                  | HEICO Corp.                                                                               | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       804 | NS      | $263712.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq, Inc.                                 | Nasdaq, Inc.                                                                              | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |      2943 | NS      | $263163.06    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                         | Otis Worldwide Corp.                                                                      | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      3285 | NS      | $325280.70    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.                     | Darden Restaurants, Inc.                                                                  | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |      1749 | NS      | $381229.53    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                               | Broadcom, Inc.                                                                            | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      8607 | NS      | $2372519.55   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog, Inc.                                | Datadog, Inc., Class A                                                                    | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |       345 | NS      | $46343.85     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd.                                  | Amdocs Ltd.                                                                               | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | GG        |       998 | NS      | $91057.52     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                         | Meta Platforms, Inc., Class A                                                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      4610 | NS      | $3402594.90   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                | Medtronic plc                                                                             | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      5706 | NS      | $497392.02    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp.                       | Costco Wholesale Corp.                                                                    | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1122 | NS      | $1110712.68   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot, Inc.                                | HubSpot, Inc.                                                                             | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       160 | NS      | $89060.80     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.            | Philip Morris International, Inc.                                                         | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1630 | NS      | $296871.90    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -43 | NC      | $-85656.00    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Okta, Inc.                                   | Okta, Inc., Class A                                                                       | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |       469 | NS      | $46885.93     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals, Inc.                | Alnylam Pharmaceuticals, Inc.                                                             | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       540 | NS      | $176088.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group, Inc.                           | Markel Group, Inc.                                                                        | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       131 | NS      | $261654.16    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies, Inc.                  | Palantir Technologies, Inc., Class A                                                      | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      5286 | NS      | $720587.52    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands, Inc.                         | Conagra Brands, Inc.                                                                      | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |      6174 | NS      | $126381.78    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty, Inc.                            | Ulta Beauty, Inc.                                                                         | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |       609 | NS      | $284902.38    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                | Netflix, Inc.                                                                             | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       918 | NS      | $1229321.34   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital, Inc.                       | Blue Owl Capital, Inc., Class A                                                           | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1393 | NS      | $26759.53     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                    | PPL Corp.                                                                                 | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      9048 | NS      | $306636.72    | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Dexcom, Inc.                                 | Dexcom, Inc.                                                                              | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      3776 | NS      | $329607.04    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                            | Wells Fargo & Co.                                                                         | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      9495 | NS      | $760739.40    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.        | Alexandria Real Estate Equities, Inc.                                                     | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |       606 | NS      | $44013.78     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| W. R. Berkley Corp.                          | W. R. Berkley Corp.                                                                       | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      3401 | NS      | $249871.47    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                          | Cisco Systems, Inc.                                                                       | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     13472 | NS      | $934687.36    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo, Inc.                                | PepsiCo, Inc.                                                                             | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      4420 | NS      | $583616.80    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning, Inc.                                | Corning, Inc.                                                                             | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      4984 | NS      | $262108.56    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                            | FirstEnergy Corp.                                                                         | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      5085 | NS      | $204722.10    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMorgan Chase & Co.                                                                      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      6430 | NS      | $1864121.30   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hunt Transport Services, Inc.             | JB Hunt Transport Services, Inc.                                                          | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |      1385 | NS      | $198886.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                     | Berkshire Hathaway, Inc., Class B                                                         | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      2953 | NS      | $1434478.81   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                               | Morgan Stanley                                                                            | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      2407 | NS      | $339050.02    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.                         | PPG Industries, Inc.                                                                      | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      1465 | NS      | $166643.75    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US, Inc.                            | T-Mobile US, Inc.                                                                         | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      1992 | NS      | $474613.92    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.                 | Advanced Micro Devices, Inc.                                                              | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      1030 | NS      | $146157.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management, Inc.               | Apollo Global Management, Inc.                                                            | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |      1425 | NS      | $202164.75    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems, Inc.                        | Bentley Systems, Inc., Class B                                                            | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |       867 | NS      | $46791.99     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.                 | Vertex Pharmaceuticals, Inc.                                                              | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |       751 | NS      | $334345.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                            | Lowe's Cos., Inc.                                                                         | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      2075 | NS      | $460380.25    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| International Flavors & Fragrances, Inc.     | International Flavors & Fragrances, Inc.                                                  | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |       787 | NS      | $57883.85     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                | Chevron Corp.                                                                             | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4786 | NS      | $685307.34    | 0.67%             |  |  |  | No            |                  1 | On Loan: —       |
| Atlassian Corp.                              | Atlassian Corp., Class A                                                                  | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |       180 | NS      | $36556.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC                     | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |     35976 | NS      | $35975.95     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                 | Zimmer Biomet Holdings, Inc.                                                              | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |      1215 | NS      | $110820.15    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines, Inc.                        | Delta Air Lines, Inc.                                                                     | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      3160 | NS      | $155408.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares, Inc.              | First Citizens BancShares, Inc., Class A                                                  | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |        47 | NS      | $91954.09     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                   | Charles Schwab Corp. (The)                                                                | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      5895 | NS      | $537859.80    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp.                        | Southern Copper Corp.                                                                     | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |       394 | NS      | $39860.98     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies, Inc.                    | Akamai Technologies, Inc.                                                                 | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |       942 | NS      | $75133.92     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -44 | NC      | $-29656.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                 | Ameren Corp.                                                                              | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      3208 | NS      | $308096.32    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co. (The)                          | Coca-Cola Co. (The)                                                                       | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     12251 | NS      | $866758.25    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar, Inc.                            | Caterpillar, Inc.                                                                         | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1175 | NS      | $456146.75    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp.                             | CMS Energy Corp.                                                                          | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |      4158 | NS      | $288066.24    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| SS&C Technologies Holdings, Inc.             | SS&C Technologies Holdings, Inc.                                                          | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      2746 | NS      | $227368.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                               | AppLovin Corp., Class A                                                                   | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |       228 | NS      | $79818.24     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services, Inc.           | West Pharmaceutical Services, Inc.                                                        | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      1181 | NS      | $258402.80    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow, Inc.                             | ServiceNow, Inc.                                                                          | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       468 | NS      | $481141.44    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                  | AvalonBay Communities, Inc.                                                               | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      1471 | NS      | $299348.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Dow, Inc.                                    | Dow, Inc.                                                                                 | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      8040 | NS      | $212899.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co. (The)                   | Procter & Gamble Co. (The)                                                                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      6013 | NS      | $957991.16    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor plc                                    | Amcor plc                                                                                 | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | JE        |     19961 | NS      | $183441.59    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC                     | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   1676043 | NS      | $1676043.06   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings, Inc.                 | LPL Financial Holdings, Inc.                                                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |       145 | NS      | $54370.65     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell, Inc.                                | Hubbell, Inc., Class B                                                                    | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       433 | NS      | $176841.53    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global, Inc.                        | Coinbase Global, Inc., Class A                                                            | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |       615 | NS      | $215551.35    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos., Inc.                            | Rocket Cos., Inc., Class A                                                                | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2471 | NS      | $35038.78     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Kellanova                                    | Kellanova                                                                                 | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |      3752 | NS      | $298396.56    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                        | Walt Disney Co. (The)                                                                     | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      4311 | NS      | $534607.11    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group, Inc.              | Principal Financial Group, Inc.                                                           | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |      2212 | NS      | $175699.16    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen, Inc.                                  | Amgen, Inc.                                                                               | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      1543 | NS      | $430821.03    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | Microsoft Corp.                                                                           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     14833 | NS      | $7378082.53   | 7.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp.                        | Ares Management Corp., Class A                                                            | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      1146 | NS      | $198487.20    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | Bank of America Corp.                                                                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     18707 | NS      | $885215.24    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        44 | NC      | $109912.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp.                         | Kimberly-Clark Corp.                                                                      | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      2270 | NS      | $292648.40    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings, Inc.                       | Labcorp Holdings, Inc.                                                                    | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1276 | NS      | $334962.76    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| TransUnion                                   | TransUnion                                                                                | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |       500 | NS      | $44000.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -44 | NC      | $-445896.00   | -0.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises, Inc.                   | Ferguson Enterprises, Inc.                                                                | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |       853 | NS      | $185740.75    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co.                                       | 3M Co.                                                                                    | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      2979 | NS      | $453522.96    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre, Inc.                           | MercadoLibre, Inc.                                                                        | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       124 | NS      | $324090.12    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang, Inc.                                | Coupang, Inc.                                                                             | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |      1072 | NS      | $32117.12     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp.                         | Alliant Energy Corp.                                                                      | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      4442 | NS      | $268607.74    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                           | Equity Residential                                                                        | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      4220 | NS      | $284807.80    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.                     | Intuitive Surgical, Inc.                                                                  | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      1079 | NS      | $586339.39    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                                 | AbbVie, Inc.                                                                              | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      5024 | NS      | $932554.88    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                          | Union Pacific Corp.                                                                       | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      2175 | NS      | $500424.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings, Inc.                       | Booking Holdings, Inc.                                                                    | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        74 | NS      | $428403.76    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets, Inc.                       | Tradeweb Markets, Inc., Class A                                                           | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       807 | NS      | $118144.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                         | United Rentals, Inc.                                                                      | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       500 | NS      | $376700.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                          | EOG Resources, Inc.                                                                       | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      2909 | NS      | $347945.49    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications, Inc.                    | Zoom Communications, Inc., Class A                                                        | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      2150 | NS      | $167657.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy, Inc.                          | MicroStrategy, Inc., Class A                                                              | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |       589 | NS      | $238091.47    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| UnitedHealth Group, Inc.                     | UnitedHealth Group, Inc.                                                                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1983 | NS      | $618636.51    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.               | Thermo Fisher Scientific, Inc.                                                            | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1064 | NS      | $431409.44    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp.                                  | HEICO Corp., Class A                                                                      | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       659 | NS      | $170516.25    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys, Inc.                               | Synopsys, Inc.                                                                            | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       850 | NS      | $435778.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp.                                  | Dover Corp.                                                                               | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      1436 | NS      | $263118.28    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB, Inc.                                | MongoDB, Inc., Class A                                                                    | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      1452 | NS      | $304905.48    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa, Inc.                                   | Visa, Inc., Class A                                                                       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4023 | NS      | $1428366.15   | 1.39%             |  |  |  | No            |                  1 | On Loan: —       |
| Super Micro Computer, Inc.                   | Super Micro Computer, Inc.                                                                | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      4914 | NS      | $240835.14    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Healthpeak Properties, Inc.                  | Healthpeak Properties, Inc.                                                               | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     12607 | NS      | $220748.57    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands, Inc.                            | Yum! Brands, Inc.                                                                         | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      2407 | NS      | $356669.26    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.                        | Targa Resources Corp.                                                                     | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      1687 | NS      | $293672.96    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv plc                                    | Aptiv plc                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |      2006 | NS      | $136849.32    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup, Inc.                             | PulteGroup, Inc.                                                                          | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1652 | NS      | $174219.92    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp.                                | Entergy Corp.                                                                             | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      5054 | NS      | $420088.48    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM, Inc.                               | QUALCOMM, Inc.                                                                            | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      3362 | NS      | $535432.12    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora, Inc.                                | Cencora, Inc.                                                                             | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1215 | NS      | $364317.75    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                               | Ford Motor Co.                                                                            | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     26914 | NS      | $292016.90    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp.                        | Lockheed Martin Corp.                                                                     | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       947 | NS      | $438593.58    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy, Inc.                     | CenterPoint Energy, Inc.                                                                  | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |      8775 | NS      | $322393.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group, Inc.               | Citizens Financial Group, Inc.                                                            | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      4630 | NS      | $207192.50    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.            | Booz Allen Hamilton Holding Corp., Class A                                                | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |       787 | NS      | $81950.31     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments, Inc.                      | Texas Instruments, Inc.                                                                   | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      2886 | NS      | $599191.32    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -43 | NC      | $-483363.00   | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce, Inc.                             | Salesforce, Inc.                                                                          | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      1659 | NS      | $452392.71    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage, Inc.                    | Extra Space Storage, Inc.                                                                 | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1888 | NS      | $278366.72    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        44 | NC      | $368720.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday, Inc.                                | Workday, Inc., Class A                                                                    | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |       471 | NS      | $113040.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology, Inc.                       | Align Technology, Inc.                                                                    | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |       110 | NS      | $20826.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare, Inc.                             | Cloudflare, Inc., Class A                                                                 | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |       733 | NS      | $143543.39    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Block, Inc.                                  | Block, Inc., Class A                                                                      | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      3968 | NS      | $269546.24    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.               | Monolithic Power Systems, Inc.                                                            | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       520 | NS      | $380317.60    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks, Inc.                     | Palo Alto Networks, Inc.                                                                  | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      2637 | NS      | $539635.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp.                                 | Cintas Corp.                                                                              | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1930 | NS      | $430139.10    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde plc                                    | Linde plc                                                                                 | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |      1461 | NS      | $685471.98    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Morgan Stanley ETF Trust

**Signature:** Francis J. Smith

**Name of Signer:** Francis J. Smith

**Title:** Principal Financial Officer