# EDGAR Filing Document

**Accession Number:** 0001611331
**File Stem:** 0001410368-26-006678
**Filing Date:** 2026-1
**Character Count:** 360499
**Document Hash:** cf0a0978ca5dbb3dffce188fa81318d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-006678.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0001410368-26-006678

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001611331

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23597
- **FILM NUMBER:** 26556119

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4255

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allspring Exchange-Traded Funds Trust
- **DATE OF NAME CHANGE:** 20211206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wells Fargo Exchange-Traded Funds Trust
- **DATE OF NAME CHANGE:** 20140619

## Series and Classes Contracts Data

### Allspring Core Plus ETF (Series ID: S000088477)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000254754 | Allspring Core Plus ETF | APLU            |

## Nport-Ex

Portfolio of investments—November 30, 2025 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 30.69%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FHLMC | 3.00<br> %<br>| &nbsp;&nbsp; 10-1-2053 | $3881515 | &nbsp;&nbsp; $3455084 |
| &nbsp;&nbsp;&nbsp; FHLMC | 4.00 | &nbsp;&nbsp; 11-1-2053 | 2650351 | &nbsp;&nbsp; 2529412 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.00 | &nbsp;&nbsp; 3-1-2040 | 1614628 | &nbsp;&nbsp; 1633297 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.00 | &nbsp;&nbsp; 1-1-2055 | 2831681 | &nbsp;&nbsp; 2826676 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.50 | &nbsp;&nbsp; 11-1-2054 | 798213 | &nbsp;&nbsp; 808618 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.50 | &nbsp;&nbsp; 6-1-2055 | 1959037 | &nbsp;&nbsp; 1984228 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.50 | &nbsp;&nbsp; 9-1-2055 | 973186 | &nbsp;&nbsp; 985700 |
| &nbsp;&nbsp;&nbsp; FHLMC | 5.50 | &nbsp;&nbsp; 11-1-2055 | 2524181 | &nbsp;&nbsp; 2556951 |
| &nbsp;&nbsp;&nbsp; FHLMC | 6.50 | &nbsp;&nbsp; 7-1-2055 | 1410420 | &nbsp;&nbsp; 1460892 |
| &nbsp;&nbsp;&nbsp; FHLMC | 6.50 | &nbsp;&nbsp; 9-1-2055 | 471924 | &nbsp;&nbsp; 489100 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 8-1-2051 | 872641 | &nbsp;&nbsp; 714916 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 1-1-2052 | 864757 | &nbsp;&nbsp; 706465 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.00 | &nbsp;&nbsp; 2-1-2052 | 7128893 | &nbsp;&nbsp; 5828258 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 2.00 | &nbsp;&nbsp; 12-13-2053 | 4070000 | &nbsp;&nbsp; 3310799 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 2-1-2051 | 6925046 | &nbsp;&nbsp; 5916521 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 4-1-2052 | 1136734 | &nbsp;&nbsp; 990547 |
| &nbsp;&nbsp;&nbsp; FNMA | 2.50 | &nbsp;&nbsp; 6-1-2052 | 450978 | &nbsp;&nbsp; 384319 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.00 | &nbsp;&nbsp; 11-1-2051 | 1881825 | &nbsp;&nbsp; 1672147 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 8-1-2052 | 415291 | &nbsp;&nbsp; 384579 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 9-1-2052 | 3176456 | &nbsp;&nbsp; 2942965 |
| &nbsp;&nbsp;&nbsp; FNMA | 3.50 | &nbsp;&nbsp; 10-1-2054 | 400857 | &nbsp;&nbsp; 370920 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 3.50 | &nbsp;&nbsp; 12-11-2055 | 1400000 | &nbsp;&nbsp; 1294784 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.00 | &nbsp;&nbsp; 9-1-2052 | 243403 | &nbsp;&nbsp; 233415 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 4.00 | &nbsp;&nbsp; 12-11-2055 | 1595000 | &nbsp;&nbsp; 1518975 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.50 | &nbsp;&nbsp; 5-1-2053 | 2959574 | &nbsp;&nbsp; 2907575 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.50 | &nbsp;&nbsp; 11-1-2054 | 490006 | &nbsp;&nbsp; 479799 |
| &nbsp;&nbsp;&nbsp; FNMA | 4.50 | &nbsp;&nbsp; 7-1-2055 | 2398943 | &nbsp;&nbsp; 2348967 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.00 | &nbsp;&nbsp; 12-1-2054 | 354951 | &nbsp;&nbsp; 354512 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.00 | &nbsp;&nbsp; 1-1-2055 | 1366411 | &nbsp;&nbsp; 1364172 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.00 | &nbsp;&nbsp; 6-1-2055 | 1795177 | &nbsp;&nbsp; 1791958 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.50 | &nbsp;&nbsp; 12-1-2054 | 671499 | &nbsp;&nbsp; 680167 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.50 | &nbsp;&nbsp; 1-1-2055 | 1195182 | &nbsp;&nbsp; 1210550 |
| &nbsp;&nbsp;&nbsp; FNMA | 5.50 | &nbsp;&nbsp; 3-1-2055 | 4640927 | &nbsp;&nbsp; 4700603 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.00 | &nbsp;&nbsp; 8-1-2054 | 216249 | &nbsp;&nbsp; 221543 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.00 | &nbsp;&nbsp; 5-1-2055 | 2958773 | &nbsp;&nbsp; 3029616 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.00 | &nbsp;&nbsp; 6-1-2055 | 2114333 | &nbsp;&nbsp; 2164957 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.00 | &nbsp;&nbsp; 7-1-2055 | 807795 | &nbsp;&nbsp; 830314 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.00 | &nbsp;&nbsp; 11-1-2055 | 2510295 | &nbsp;&nbsp; 2570403 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.50 | &nbsp;&nbsp; 11-1-2054 | 1590778 | &nbsp;&nbsp; 1648350 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.50 | &nbsp;&nbsp; 9-1-2055 | 487300 | &nbsp;&nbsp; 505035 |
| &nbsp;&nbsp;&nbsp; GNMA | 2.00 | &nbsp;&nbsp; 2-20-2052 | 796258 | &nbsp;&nbsp; 663774 |
| &nbsp;&nbsp;&nbsp; GNMA | 2.50 | &nbsp;&nbsp; 4-20-2051 | 403303 | &nbsp;&nbsp; 350305 |
| &nbsp;&nbsp;&nbsp; GNMA | 2.50 | &nbsp;&nbsp; 8-20-2051 | 1498457 | &nbsp;&nbsp; 1301010 |
| &nbsp;&nbsp;&nbsp; GNMA | 2.50 | &nbsp;&nbsp; 9-20-2051 | 2902494 | &nbsp;&nbsp; 2520037 |
| &nbsp;&nbsp;&nbsp; GNMA | 3.00 | &nbsp;&nbsp; 8-20-2051 | 1592718 | &nbsp;&nbsp; 1438890 |
| &nbsp;&nbsp;&nbsp; GNMA | 3.00 | &nbsp;&nbsp; 12-20-2051 | 253725 | &nbsp;&nbsp; 229065 |
| &nbsp;&nbsp;&nbsp; GNMA | 3.50 | &nbsp;&nbsp; 2-20-2055 | 1185868 | &nbsp;&nbsp; 1087999 |
| &nbsp;&nbsp;&nbsp; GNMA | 3.50 | &nbsp;&nbsp; 9-20-2055 | 1582942 | &nbsp;&nbsp; 1451726 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 1

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; GNMA | 4.50<br> %<br>| &nbsp;&nbsp; 11-20-2054 | $124007 | &nbsp;&nbsp; $121362 |
| &nbsp;&nbsp;&nbsp; GNMA | 4.50 | &nbsp;&nbsp; 2-20-2055 | 1111648 | &nbsp;&nbsp; 1087594 |
| &nbsp;&nbsp;&nbsp; GNMA | 4.50 | &nbsp;&nbsp; 4-20-2055 | 1378565 | &nbsp;&nbsp; 1348735 |
| &nbsp;&nbsp;&nbsp; GNMA | 5.00 | &nbsp;&nbsp; 12-20-2054 | 5213934 | &nbsp;&nbsp; 5213258 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 5.00 | &nbsp;&nbsp; 12-18-2055 | 2265000 | &nbsp;&nbsp; 2262276 |
| &nbsp;&nbsp;&nbsp; GNMA | 5.50 | &nbsp;&nbsp; 12-20-2054 | 3745562 | &nbsp;&nbsp; 3789575 |
| &nbsp;&nbsp;&nbsp; GNMA | 5.50 | &nbsp;&nbsp; 1-20-2055 | 1080803 | &nbsp;&nbsp; 1092655 |
| &nbsp;&nbsp;&nbsp; GNMA | 5.50 | &nbsp;&nbsp; 10-20-2055 | 2478779 | &nbsp;&nbsp; 2507561 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 5.50 | &nbsp;&nbsp; 12-18-2055 | 2240000 | &nbsp;&nbsp; 2262126 |
| &nbsp;&nbsp;&nbsp; GNMA | 6.00 | &nbsp;&nbsp; 8-20-2054 | 1036608 | &nbsp;&nbsp; 1058720 |
| &nbsp;&nbsp;&nbsp; GNMA | 6.00 | &nbsp;&nbsp; 9-20-2054 | 1061962 | &nbsp;&nbsp; 1084361 |
| &nbsp;&nbsp;&nbsp; GNMA | 6.00 | &nbsp;&nbsp; 9-20-2055 | 1798852 | &nbsp;&nbsp; 1838336 |
| **Total agency securities (Cost $102,704,083)** |  |  |  | &nbsp;&nbsp; **104517454** |
| **Asset-backed securities: 9.37%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aligned Data Centers Issuer LLC Series 2021-1A Class B144A | 2.48 | &nbsp;&nbsp; 8-15-2046 | 160000 | &nbsp;&nbsp; 156534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust Series 2025-HB2 Class A1 (30 Day <br> Average U.S. SOFR+1.60%)144A±%%<br>| 5.64 | &nbsp;&nbsp; 12-25-2055 | 1700000 | &nbsp;&nbsp; 1699652 |
| &nbsp;&nbsp;&nbsp; Avant Loans Funding Trust Series 2024-REV1 Class B144A | 6.17 | &nbsp;&nbsp; 10-15-2033 | 1000000 | &nbsp;&nbsp; 1013649 |
| &nbsp;&nbsp;&nbsp; Barings Equipment Finance LLC Series 2025-A Class A2144A | 4.64 | &nbsp;&nbsp; 10-13-2028 | 844470 | &nbsp;&nbsp; 849107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brex Commercial Charge Card Master Trust Series 2024-1 <br> Class A1144A<br>| 6.05 | &nbsp;&nbsp; 7-15-2027 | 625000 | &nbsp;&nbsp; 627541 |
| &nbsp;&nbsp;&nbsp; Cajun Global LLC Series 2025-2A Class A2144A | 5.91 | &nbsp;&nbsp; 11-20-2055 | 1515000 | &nbsp;&nbsp; 1507399 |
| &nbsp;&nbsp;&nbsp; Centersquare Issuer LLC Series 2024-1A Class A2144A | 5.20 | &nbsp;&nbsp; 10-26-2054 | 1000000 | &nbsp;&nbsp; 985632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ClickLease Equipment Receivables Trust Series 2024-1 <br> Class C144A<br>| 8.40 | &nbsp;&nbsp; 2-15-2030 | 937771 | &nbsp;&nbsp; 948589 |
| &nbsp;&nbsp;&nbsp; Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | &nbsp;&nbsp; 5-25-2054 | 1515000 | &nbsp;&nbsp; 1579601 |
| &nbsp;&nbsp;&nbsp; DI Issuer LLC Series 2024-1A Class A2144A | 5.81 | &nbsp;&nbsp; 9-15-2054 | 260000 | &nbsp;&nbsp; 261410 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2023-HE3 Class A144A±± | 6.44 | &nbsp;&nbsp; 11-25-2053 | 813238 | &nbsp;&nbsp; 834105 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2025-HE1 Class C144A±± | 6.03 | &nbsp;&nbsp; 1-25-2055 | 823719 | &nbsp;&nbsp; 834004 |
| &nbsp;&nbsp;&nbsp; Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 198000 | &nbsp;&nbsp; 204294 |
| &nbsp;&nbsp;&nbsp; Flexential Issuer LLC Series 2025-1A Class A2144A | 6.03 | &nbsp;&nbsp; 10-25-2060 | 650000 | &nbsp;&nbsp; 648355 |
| &nbsp;&nbsp;&nbsp; FREED ABS Trust Series 2022-3FP Class D144A | 7.36 | &nbsp;&nbsp; 8-20-2029 | 32951 | &nbsp;&nbsp; 33125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gracie Point International Funding LLC Series 2025-1A <br> Class C (30 Day Average U.S. SOFR+2.75%)144A±<br>| 6.96 | &nbsp;&nbsp; 8-15-2028 | 335000 | &nbsp;&nbsp; 335583 |
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing III LLC Series 2023-4A Class A144A | 6.15 | &nbsp;&nbsp; 3-25-2030 | 215000 | &nbsp;&nbsp; 224643 |
| &nbsp;&nbsp;&nbsp; Hipgnosis Music Assets LP Series 2022-1 Class A144A | 5.00 | &nbsp;&nbsp; 5-16-2062 | 1248509 | &nbsp;&nbsp; 1246794 |
| &nbsp;&nbsp;&nbsp; Hotwire Funding LLC Series 2021-1 Class A2144A | 2.31 | &nbsp;&nbsp; 11-20-2051 | 1000000 | &nbsp;&nbsp; 976401 |
| &nbsp;&nbsp;&nbsp; Jack in the Box Funding LLC Series 2019-1A Class A23144A | 4.97 | &nbsp;&nbsp; 8-25-2049 | 190500 | &nbsp;&nbsp; 182919 |
| &nbsp;&nbsp;&nbsp; Jersey Mike's Funding LLC Series 2024-1A Class A2144A | 5.64 | &nbsp;&nbsp; 2-15-2055 | 992500 | &nbsp;&nbsp; 1014432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LCM 34 Ltd. Series 34A Class BR (U.S. SOFR 3 <br> Month+1.70%)144A±<br>| 5.58 | &nbsp;&nbsp; 10-20-2034 | 1275000 | &nbsp;&nbsp; 1273884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LoanCore Issuer LLC Series 2025-CRE8 Class C (U.S. SOFR 1 <br> Month+2.14%)144A±<br>| 6.10 | &nbsp;&nbsp; 8-17-2042 | 1000000 | &nbsp;&nbsp; 991295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class E (U.S. SOFR 1 <br> Month+2.91%)144A±<br>| 6.87 | &nbsp;&nbsp; 10-16-2036 | 100000 | &nbsp;&nbsp; 97696 |
| &nbsp;&nbsp;&nbsp; NMABS Issuer I LLC Series 2025-1A Class B144A | 5.33 | &nbsp;&nbsp; 11-20-2055 | 840000 | &nbsp;&nbsp; 843543 |
| &nbsp;&nbsp;&nbsp; NMEF Funding LLC Series 2025-A Class B144A | 5.18 | &nbsp;&nbsp; 7-15-2032 | 500000 | &nbsp;&nbsp; 506149 |

---

See accompanying notes to portfolio of investments

2 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OneMain Direct Auto Receivables Trust Series 2025-1A <br> Class A144A<br>| 5.36<br> %<br>| &nbsp;&nbsp; 4-16-2035 | $1000000 | &nbsp;&nbsp; $1041227 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Grantor Trust Series 2025-7 Class B144A | 5.06 | &nbsp;&nbsp; 5-15-2033 | 1520000 | &nbsp;&nbsp; 1519424 |
| &nbsp;&nbsp;&nbsp; Sabey Data Center Issuer LLC Series 2022-1 Class A2144A | 5.00 | &nbsp;&nbsp; 6-20-2047 | 1000000 | &nbsp;&nbsp; 992763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2023-FIG4 <br> Class B144A±±<br>| 7.12 | &nbsp;&nbsp; 11-25-2053 | 154902 | &nbsp;&nbsp; 160483 |
| &nbsp;&nbsp;&nbsp; SEB Funding LLC Series 2021-1A Class A2144A | 4.97 | &nbsp;&nbsp; 1-30-2052 | 997500 | &nbsp;&nbsp; 987441 |
| &nbsp;&nbsp;&nbsp; Service Experts Issuer LLC Series 2025-1A Class A144A | 5.38 | &nbsp;&nbsp; 1-20-2037 | 1495210 | &nbsp;&nbsp; 1498215 |
| &nbsp;&nbsp;&nbsp; ServiceMaster Funding LLC Series 2020-1 Class A2I144A | 2.84 | &nbsp;&nbsp; 1-30-2051 | 168833 | &nbsp;&nbsp; 160247 |
| &nbsp;&nbsp;&nbsp; ServiceMaster Funding LLC Series 2021-1 Class A2II144A | 3.11 | &nbsp;&nbsp; 7-30-2051 | 624684 | &nbsp;&nbsp; 542589 |
| &nbsp;&nbsp;&nbsp; Sotheby's ArtFi Master Trust Series 2024-1A Class A1144A | 6.43 | &nbsp;&nbsp; 12-22-2031 | 1000000 | &nbsp;&nbsp; 1004488 |
| &nbsp;&nbsp;&nbsp; Subway Funding LLC Series 2024-3A Class A2I144A | 5.25 | &nbsp;&nbsp; 7-30-2054 | 410850 | &nbsp;&nbsp; 409337 |
| &nbsp;&nbsp;&nbsp; Switch ABS Issuer LLC Series 2024-1A Class A2144A | 6.28 | &nbsp;&nbsp; 3-25-2054 | 200000 | &nbsp;&nbsp; 202358 |
| &nbsp;&nbsp;&nbsp; Switch ABS Issuer LLC Series 2025-2A Class A22144A | 5.37 | &nbsp;&nbsp; 10-25-2055 | 505000 | &nbsp;&nbsp; 505612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust Series 2024-CES1 <br> Class A2144A±±<br>| 6.44 | &nbsp;&nbsp; 1-25-2064 | 220000 | &nbsp;&nbsp; 222249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL7 Class A (U.S. SOFR 1 <br> Month+1.45%)144A±<br>| 5.48 | &nbsp;&nbsp; 6-18-2043 | 450000 | &nbsp;&nbsp; 449999 |
| &nbsp;&nbsp;&nbsp; Uniti Fiber ABS Issuer LLC Series 2025-1A Class A2144A | 5.88 | &nbsp;&nbsp; 4-20-2055 | 990000 | &nbsp;&nbsp; 1015715 |
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC Series 2025-1A Class A2144A | 5.65 | &nbsp;&nbsp; 3-20-2055 | 610000 | &nbsp;&nbsp; 620516 |
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC Series 2025-3A Class A2144A | 5.57 | &nbsp;&nbsp; 10-20-2055 | 700000 | &nbsp;&nbsp; 704387 |
| **Total asset-backed securities (Cost $31,717,474)** |  |  |  | &nbsp;&nbsp; **31913386** |
| **Corporate bonds and notes: 21.41%** |  |  |  |  |
| **Basic materials: 0.29%** |  |  |  |  |
| **Chemicals: 0.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | 375000 | &nbsp;&nbsp; 374407 |
| &nbsp;&nbsp;&nbsp; LYB International Finance III LLC | 5.50 | &nbsp;&nbsp; 3-1-2034 | 170000 | &nbsp;&nbsp; 169609 |
| &nbsp;&nbsp;&nbsp; LYB International Finance III LLC | 5.88 | &nbsp;&nbsp; 1-15-2036 | 285000 | &nbsp;&nbsp; 285998 |
|  |  |  |  | &nbsp;&nbsp; **830014** |
| **Iron/steel: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.144A | 4.88 | &nbsp;&nbsp; 3-1-2031 | 160000 | &nbsp;&nbsp; **151815** |
| **Communications: 2.57%** |  |  |  |  |
| **Advertising: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 7.50 | &nbsp;&nbsp; 3-15-2033 | 170000 | &nbsp;&nbsp; **178681** |
| **Internet: 0.41%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2035 | 765000 | &nbsp;&nbsp; 773291 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. | 5.63 | &nbsp;&nbsp; 11-15-2055 | 620000 | &nbsp;&nbsp; 618430 |
|  |  |  |  | &nbsp;&nbsp; **1391721** |
| **Media: 1.36%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 785000 | &nbsp;&nbsp; 665152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 2.80 | &nbsp;&nbsp; 4-1-2031 | 815000 | &nbsp;&nbsp; 732230 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 3

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Media**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.85<br> %<br>| &nbsp;&nbsp; 4-1-2061 | $285000 | &nbsp;&nbsp; $174352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.90 | &nbsp;&nbsp; 6-1-2052 | 220000 | &nbsp;&nbsp; 144429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 6.10 | &nbsp;&nbsp; 6-1-2029 | 485000 | &nbsp;&nbsp; 505723 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 2.94 | &nbsp;&nbsp; 11-1-2056 | 315000 | &nbsp;&nbsp; 182829 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 5.50 | &nbsp;&nbsp; 5-15-2064 | 345000 | &nbsp;&nbsp; 318220 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 6.05 | &nbsp;&nbsp; 5-15-2055 | 340000 | &nbsp;&nbsp; 344153 |
| &nbsp;&nbsp;&nbsp; News Corp.144A | 3.88 | &nbsp;&nbsp; 5-15-2029 | 975000 | &nbsp;&nbsp; 940795 |
| &nbsp;&nbsp;&nbsp; News Corp.144A | 5.13 | &nbsp;&nbsp; 2-15-2032 | 190000 | &nbsp;&nbsp; 188838 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC | 5.50 | &nbsp;&nbsp; 9-1-2041 | 515000 | &nbsp;&nbsp; 456456 |
|  |  |  |  | &nbsp;&nbsp; **4653177** |
| **Telecommunications: 0.75%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 3.55 | &nbsp;&nbsp; 9-15-2055 | 530000 | &nbsp;&nbsp; 363212 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 5.70 | &nbsp;&nbsp; 11-1-2054 | 495000 | &nbsp;&nbsp; 485878 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 7.00 | &nbsp;&nbsp; 3-31-2034 | 415000 | &nbsp;&nbsp; 425060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint <br> Spectrum Co. III LLC144A<br>| 5.15 | &nbsp;&nbsp; 3-20-2028 | 110000 | &nbsp;&nbsp; 111031 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 5.00 | &nbsp;&nbsp; 1-15-2036 | 885000 | &nbsp;&nbsp; 886154 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 5.88 | &nbsp;&nbsp; 11-30-2055 | 270000 | &nbsp;&nbsp; 272510 |
|  |  |  |  | &nbsp;&nbsp; **2543845** |
| **Consumer, cyclical: 2.87%** |  |  |  |  |
| **Airlines: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Airlines Pass-Through Trust Series 2015-1 Class A | 3.38 | &nbsp;&nbsp; 5-1-2027 | 386380 | &nbsp;&nbsp; 380682 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines Pass-Through Trust Series 2020-1 Class AA | 2.00 | &nbsp;&nbsp; 6-10-2028 | 49072 | &nbsp;&nbsp; 47118 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc./SkyMiles IP Ltd.144A | 4.75 | &nbsp;&nbsp; 10-20-2028 | 705000 | &nbsp;&nbsp; 709282 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2020-1 Class B | 4.88 | &nbsp;&nbsp; 1-15-2026 | 92796 | &nbsp;&nbsp; 92803 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2023-1 Class A | 5.80 | &nbsp;&nbsp; 1-15-2036 | 191259 | &nbsp;&nbsp; 201862 |
|  |  |  |  | &nbsp;&nbsp; **1431747** |
| **Auto manufacturers: 1.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Daimler Truck Finance North America LLC144A | 4.65 | &nbsp;&nbsp; 10-12-2030 | 375000 | &nbsp;&nbsp; 378154 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | 4.00 | &nbsp;&nbsp; 11-13-2030 | 385000 | &nbsp;&nbsp; 362725 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | 5.13 | &nbsp;&nbsp; 11-5-2026 | 390000 | &nbsp;&nbsp; 391908 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | 5.87 | &nbsp;&nbsp; 10-31-2035 | 1080000 | &nbsp;&nbsp; 1073487 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | 5.85 | &nbsp;&nbsp; 4-6-2030 | 300000 | &nbsp;&nbsp; 315924 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America144A | 1.30 | &nbsp;&nbsp; 1-8-2026 | 105000 | &nbsp;&nbsp; 104668 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America144A | 5.30 | &nbsp;&nbsp; 3-19-2027 | 185000 | &nbsp;&nbsp; 187546 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America144A | 5.40 | &nbsp;&nbsp; 6-23-2032 | 780000 | &nbsp;&nbsp; 809833 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America144A | 5.65 | &nbsp;&nbsp; 6-26-2026 | 110000 | &nbsp;&nbsp; 110857 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America144A | 5.80 | &nbsp;&nbsp; 4-1-2030 | 400000 | &nbsp;&nbsp; 419876 |
|  |  |  |  | &nbsp;&nbsp; **4154978** |
| **Entertainment: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; WarnerMedia Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 266000 | &nbsp;&nbsp; **243058** |

---

See accompanying notes to portfolio of investments

4 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Home builders: 0.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc.144A | 6.63<br> %<br>| &nbsp;&nbsp; 9-15-2033 | $735000 | &nbsp;&nbsp; $745325 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 130000 | &nbsp;&nbsp; 135439 |
|  |  |  |  | &nbsp;&nbsp; **880764** |
| **Housewares: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 6.38 | &nbsp;&nbsp; 5-15-2030 | 145000 | &nbsp;&nbsp; **139341** |
| **Leisure time: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc.144A | 11.13 | &nbsp;&nbsp; 7-15-2030 | 535000 | &nbsp;&nbsp; **462743** |
| **Lodging: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 5.63 | &nbsp;&nbsp; 6-15-2028 | 245000 | &nbsp;&nbsp; 250598 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 6.20 | &nbsp;&nbsp; 8-15-2034 | 255000 | &nbsp;&nbsp; 268706 |
|  |  |  |  | &nbsp;&nbsp; **519304** |
| **Retail: 0.19%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC144A | 5.88 | &nbsp;&nbsp; 3-15-2030 | 90000 | &nbsp;&nbsp; 90218 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 55000 | &nbsp;&nbsp; 55262 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC/PetSmart Finance Corp.144A | 7.50 | &nbsp;&nbsp; 9-15-2032 | 505000 | &nbsp;&nbsp; 508867 |
|  |  |  |  | &nbsp;&nbsp; **654347** |
| **Toys/games/hobbies: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 6.05 | &nbsp;&nbsp; 5-14-2034 | 441000 | &nbsp;&nbsp; 467694 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc. | 5.00 | &nbsp;&nbsp; 11-17-2030 | 230000 | &nbsp;&nbsp; 232065 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.144A | 5.88 | &nbsp;&nbsp; 12-15-2027 | 595000 | &nbsp;&nbsp; 595393 |
|  |  |  |  | &nbsp;&nbsp; **1295152** |
| **Consumer, non-cyclical: 2.46%** |  |  |  |  |
| **Agriculture: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 4.76 | &nbsp;&nbsp; 9-6-2049 | 235000 | &nbsp;&nbsp; 201906 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 5.63 | &nbsp;&nbsp; 8-15-2035 | 620000 | &nbsp;&nbsp; 650071 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 6.25 | &nbsp;&nbsp; 8-15-2055 | 380000 | &nbsp;&nbsp; 399053 |
| &nbsp;&nbsp;&nbsp; Reynolds American, Inc. | 7.00 | &nbsp;&nbsp; 8-4-2041 | 30000 | &nbsp;&nbsp; 32050 |
|  |  |  |  | &nbsp;&nbsp; **1283080** |
| **Commercial services: 0.52%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Block, Inc.144A | 6.00 | &nbsp;&nbsp; 8-15-2033 | 225000 | &nbsp;&nbsp; 231245 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 175000 | &nbsp;&nbsp; 184406 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 30000 | &nbsp;&nbsp; 32919 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2030 | 645000 | &nbsp;&nbsp; 646513 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 3-17-2031 | 100000 | &nbsp;&nbsp; 121400 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 5.95 | &nbsp;&nbsp; 8-15-2052 | 280000 | &nbsp;&nbsp; 269034 |
| &nbsp;&nbsp;&nbsp; Upbound Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 285000 | &nbsp;&nbsp; 278295 |
|  |  |  |  | &nbsp;&nbsp; **1763812** |
| **Cosmetics/Personal Care: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 5.60 | &nbsp;&nbsp; 1-15-2031 | 310000 | &nbsp;&nbsp; **311952** |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 5

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Food: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Kroger Co. | 5.50<br> %<br>| &nbsp;&nbsp; 9-15-2054 | $325000 | &nbsp;&nbsp; $316880 |
| &nbsp;&nbsp;&nbsp; Mars, Inc.144A | 5.20 | &nbsp;&nbsp; 3-1-2035 | 530000 | &nbsp;&nbsp; 548347 |
| &nbsp;&nbsp;&nbsp; Mars, Inc.144A | 5.70 | &nbsp;&nbsp; 5-1-2055 | 430000 | &nbsp;&nbsp; 438318 |
|  |  |  |  | &nbsp;&nbsp; **1303545** |
| **Healthcare-products: 0.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc.%% | 5.65 | &nbsp;&nbsp; 12-15-2035 | 335000 | &nbsp;&nbsp; **341392** |
| **Healthcare-services: 0.67%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; HCA, Inc. | 5.95 | &nbsp;&nbsp; 9-15-2054 | 365000 | &nbsp;&nbsp; 367446 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 4.65 | &nbsp;&nbsp; 1-15-2031 | 925000 | &nbsp;&nbsp; 941644 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 5.05 | &nbsp;&nbsp; 4-15-2053 | 480000 | &nbsp;&nbsp; 442771 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 5.30 | &nbsp;&nbsp; 6-15-2035 | 115000 | &nbsp;&nbsp; 119843 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 5.63 | &nbsp;&nbsp; 7-15-2054 | 330000 | &nbsp;&nbsp; 330596 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 5.95 | &nbsp;&nbsp; 6-15-2055 | 90000 | &nbsp;&nbsp; 94310 |
|  |  |  |  | &nbsp;&nbsp; **2296610** |
| **Pharmaceuticals: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 5.60 | &nbsp;&nbsp; 3-15-2055 | 265000 | &nbsp;&nbsp; 271874 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 5.65 | &nbsp;&nbsp; 10-15-2065 | 385000 | &nbsp;&nbsp; 398443 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2035 | 400000 | &nbsp;&nbsp; 404783 |
|  |  |  |  | &nbsp;&nbsp; **1075100** |
| **Energy: 1.60%** |  |  |  |  |
| **Energy-alternate sources: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC144A | 4.75 | &nbsp;&nbsp; 1-15-2030 | 148000 | &nbsp;&nbsp; **142281** |
| **Oil & gas: 0.64%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; APA Corp. | 5.25 | &nbsp;&nbsp; 2-1-2042 | 133000 | &nbsp;&nbsp; 111583 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. | 5.50 | &nbsp;&nbsp; 1-15-2055 | 645000 | &nbsp;&nbsp; 630505 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. | 5.65 | &nbsp;&nbsp; 1-15-2065 | 180000 | &nbsp;&nbsp; 177415 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 5.40 | &nbsp;&nbsp; 2-15-2035 | 290000 | &nbsp;&nbsp; 295831 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 5.90 | &nbsp;&nbsp; 2-15-2055 | 185000 | &nbsp;&nbsp; 180191 |
| &nbsp;&nbsp;&nbsp; Shell Finance U.S., Inc. | 4.75 | &nbsp;&nbsp; 1-6-2036 | 775000 | &nbsp;&nbsp; 780815 |
|  |  |  |  | &nbsp;&nbsp; **2176340** |
| **Oil & gas services: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Schlumberger Holdings Corp.144A | 4.85 | &nbsp;&nbsp; 5-15-2033 | 245000 | &nbsp;&nbsp; **247505** |
| **Pipelines: 0.85%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP | 6.20 | &nbsp;&nbsp; 4-1-2055 | 245000 | &nbsp;&nbsp; 244553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP (5 Year Treasury Constant <br> Maturity+4.02%)±<br>| 8.00 | &nbsp;&nbsp; 5-15-2054 | 160000 | &nbsp;&nbsp; 170605 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC | 5.55 | &nbsp;&nbsp; 2-16-2055 | 495000 | &nbsp;&nbsp; 490116 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 5-15-2032 | 40000 | &nbsp;&nbsp; 41565 |
| &nbsp;&nbsp;&nbsp; MPLX LP | 6.20 | &nbsp;&nbsp; 9-15-2055 | 285000 | &nbsp;&nbsp; 288208 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 260000 | &nbsp;&nbsp; 268751 |
| &nbsp;&nbsp;&nbsp; South Bow USA Infrastructure Holdings LLC | 5.03 | &nbsp;&nbsp; 10-1-2029 | 555000 | &nbsp;&nbsp; 563399 |

---

See accompanying notes to portfolio of investments

6 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pipelines**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.144A<br>| 6.00<br> %<br>| &nbsp;&nbsp; 12-31-2030 | $515000 | &nbsp;&nbsp; $513283 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.144A | 9.50 | &nbsp;&nbsp; 2-1-2029 | 165000 | &nbsp;&nbsp; 174020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. (5 Year Treasury Constant <br> Maturity+5.44%)144Aʊ±<br>| 9.00 | &nbsp;&nbsp; 9-30-2029 | 155000 | &nbsp;&nbsp; 131949 |
|  |  |  |  | &nbsp;&nbsp; **2886449** |
| **Financial: 7.77%** |  |  |  |  |
| **Banks: 3.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. (5 Year Treasury Constant <br> Maturity+1.20%)±<br>| 2.48 | &nbsp;&nbsp; 9-21-2036 | 390000 | &nbsp;&nbsp; 343293 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.74%)± | 5.52 | &nbsp;&nbsp; 10-25-2035 | 750000 | &nbsp;&nbsp; 774872 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.91%)± | 5.43 | &nbsp;&nbsp; 8-15-2035 | 295000 | &nbsp;&nbsp; 304039 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR 3 Month+1.84%)± | 3.82 | &nbsp;&nbsp; 1-20-2028 | 250000 | &nbsp;&nbsp; 249186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. Series OO (5 Year Treasury Constant <br> Maturity+2.68%)ʊ±<br>| 6.63 | &nbsp;&nbsp; 5-1-2030 | 215000 | &nbsp;&nbsp; 222964 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (U.S. SOFR+1.49%)± | 5.17 | &nbsp;&nbsp; 9-11-2036 | 470000 | &nbsp;&nbsp; 479640 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (U.S. SOFR+1.25%)± | 2.38 | &nbsp;&nbsp; 7-21-2032 | 535000 | &nbsp;&nbsp; 481081 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (U.S. SOFR+1.33%)± | 4.94 | &nbsp;&nbsp; 10-21-2036 | 390000 | &nbsp;&nbsp; 391452 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.02%)± | 2.07 | &nbsp;&nbsp; 6-1-2029 | 545000 | &nbsp;&nbsp; 520040 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.31%)± | 5.01 | &nbsp;&nbsp; 1-23-2030 | 430000 | &nbsp;&nbsp; 441498 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.45%)± | 5.30 | &nbsp;&nbsp; 7-24-2029 | 310000 | &nbsp;&nbsp; 319650 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.64%)± | 5.58 | &nbsp;&nbsp; 7-23-2036 | 915000 | &nbsp;&nbsp; 957308 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR 3 Month+0.70%)± | 1.04 | &nbsp;&nbsp; 2-4-2027 | 230000 | &nbsp;&nbsp; 228796 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Private Bank NA (U.S. SOFR+1.08%)± | 4.73 | &nbsp;&nbsp; 7-18-2031 | 655000 | &nbsp;&nbsp; 666234 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.20%)± | 2.51 | &nbsp;&nbsp; 10-20-2032 | 295000 | &nbsp;&nbsp; 265644 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.22%)± | 5.04 | &nbsp;&nbsp; 7-19-2030 | 175000 | &nbsp;&nbsp; 179899 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.59%)± | 5.16 | &nbsp;&nbsp; 4-20-2029 | 195000 | &nbsp;&nbsp; 199642 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.71%)± | 5.52 | &nbsp;&nbsp; 11-19-2055 | 325000 | &nbsp;&nbsp; 328808 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.73%)± | 5.12 | &nbsp;&nbsp; 2-1-2029 | 460000 | &nbsp;&nbsp; 469818 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.76%)± | 5.66 | &nbsp;&nbsp; 4-17-2036 | 285000 | &nbsp;&nbsp; 302552 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.83%)± | 6.41 | &nbsp;&nbsp; 11-1-2029 | 460000 | &nbsp;&nbsp; 488426 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (U.S. SOFR+1.88%)± | 5.74 | &nbsp;&nbsp; 3-20-2031 | 410000 | &nbsp;&nbsp; 424786 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (U.S. SOFR+3.28%)± | 7.66 | &nbsp;&nbsp; 11-9-2031 | 470000 | &nbsp;&nbsp; 527081 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+1.86%)± | 5.68 | &nbsp;&nbsp; 1-23-2035 | 285000 | &nbsp;&nbsp; 302999 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+2.26%)± | 5.84 | &nbsp;&nbsp; 6-12-2034 | 1160000 | &nbsp;&nbsp; 1244909 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR 3 Month+4.50%)± | 5.01 | &nbsp;&nbsp; 4-4-2051 | 400000 | &nbsp;&nbsp; 375517 |
|  |  |  |  | &nbsp;&nbsp; **11490134** |
| **Diversified financial services: 1.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd.144A | 5.95 | &nbsp;&nbsp; 2-15-2029 | 230000 | &nbsp;&nbsp; 240068 |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd./Aircastle Ireland DAC144A | 5.25 | &nbsp;&nbsp; 3-15-2030 | 505000 | &nbsp;&nbsp; 516770 |
| &nbsp;&nbsp;&nbsp; American Express Co. (U.S. SOFR+1.22%)± | 4.92 | &nbsp;&nbsp; 7-20-2033 | 180000 | &nbsp;&nbsp; 184395 |
| &nbsp;&nbsp;&nbsp; American Express Co. (U.S. SOFR+1.24%)± | 4.80 | &nbsp;&nbsp; 10-24-2036 | 970000 | &nbsp;&nbsp; 965137 |
| &nbsp;&nbsp;&nbsp; Ares Finance Co. II LLC144A | 3.25 | &nbsp;&nbsp; 6-15-2030 | 435000 | &nbsp;&nbsp; 412678 |
| &nbsp;&nbsp;&nbsp; Citadel Finance LLC144A | 5.90 | &nbsp;&nbsp; 2-10-2030 | 500000 | &nbsp;&nbsp; 508365 |
| &nbsp;&nbsp;&nbsp; Computershare U.S., Inc. | 1.13 | &nbsp;&nbsp; 10-7-2031 | 365000 | &nbsp;&nbsp; 372464 |
| &nbsp;&nbsp;&nbsp; Equitable America Global Funding144A | 4.95 | &nbsp;&nbsp; 6-9-2030 | 610000 | &nbsp;&nbsp; 622543 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 7

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Diversified financial services**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.144A | 5.00<br> %<br>| &nbsp;&nbsp; 10-1-2029 | $155000 | &nbsp;&nbsp; $143325 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 58000 | &nbsp;&nbsp; 57400 |
|  |  |  |  | &nbsp;&nbsp; **4023145** |
| **Insurance: 2.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 200 Park Funding Trust144A | 5.74 | &nbsp;&nbsp; 2-15-2055 | 755000 | &nbsp;&nbsp; 760685 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding144A | 5.03 | &nbsp;&nbsp; 7-17-2030 | 440000 | &nbsp;&nbsp; 445257 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding144A | 5.54 | &nbsp;&nbsp; 8-22-2035 | 540000 | &nbsp;&nbsp; 543458 |
| &nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | 6.13 | &nbsp;&nbsp; 11-1-2034 | 250000 | &nbsp;&nbsp; 270031 |
| &nbsp;&nbsp;&nbsp; Guardian Life Insurance Co. of America144A | 4.85 | &nbsp;&nbsp; 1-24-2077 | 370000 | &nbsp;&nbsp; 311431 |
| &nbsp;&nbsp;&nbsp; New York Life Insurance Co.144A | 3.75 | &nbsp;&nbsp; 5-15-2050 | 200000 | &nbsp;&nbsp; 150909 |
| &nbsp;&nbsp;&nbsp; New York Life Insurance Co.144A | 5.88 | &nbsp;&nbsp; 5-15-2033 | 450000 | &nbsp;&nbsp; 480278 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc. | 6.00 | &nbsp;&nbsp; 8-15-2029 | 225000 | &nbsp;&nbsp; 232837 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Life Insurance Co.144A | 3.63 | &nbsp;&nbsp; 9-30-2059 | 675000 | &nbsp;&nbsp; 473428 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Life Insurance Co.144A | 6.17 | &nbsp;&nbsp; 5-29-2055 | 370000 | &nbsp;&nbsp; 398284 |
| &nbsp;&nbsp;&nbsp; Omnis Funding Trust144A | 6.72 | &nbsp;&nbsp; 5-15-2055 | 580000 | &nbsp;&nbsp; 612246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PartnerRe Finance B LLC (5 Year Treasury Constant <br> Maturity+3.82%)±<br>| 4.50 | &nbsp;&nbsp; 10-1-2050 | 390000 | &nbsp;&nbsp; 367681 |
| &nbsp;&nbsp;&nbsp; Protective Life Corp.144A | 4.70 | &nbsp;&nbsp; 1-15-2031 | 335000 | &nbsp;&nbsp; 336377 |
| &nbsp;&nbsp;&nbsp; Protective Life Corp.144A | 5.35 | &nbsp;&nbsp; 12-15-2035 | 330000 | &nbsp;&nbsp; 333728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.16%)±<br>| 5.13 | &nbsp;&nbsp; 3-1-2052 | 55000 | &nbsp;&nbsp; 54526 |
| &nbsp;&nbsp;&nbsp; RGA Global Funding144A | 4.60 | &nbsp;&nbsp; 11-25-2030 | 460000 | &nbsp;&nbsp; 460976 |
| &nbsp;&nbsp;&nbsp; RGA Global Funding144A | 5.05 | &nbsp;&nbsp; 12-6-2031 | 395000 | &nbsp;&nbsp; 404326 |
| &nbsp;&nbsp;&nbsp; Transatlantic Holdings, Inc. | 8.00 | &nbsp;&nbsp; 11-30-2039 | 245000 | &nbsp;&nbsp; 311961 |
| &nbsp;&nbsp;&nbsp; Unum Group144A | 4.05 | &nbsp;&nbsp; 8-15-2041 | 375000 | &nbsp;&nbsp; 308283 |
|  |  |  |  | &nbsp;&nbsp; **7256702** |
| **Investment Companies: 0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. BDC | 5.10 | &nbsp;&nbsp; 1-15-2031 | 475000 | &nbsp;&nbsp; 469500 |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. BDC | 5.50 | &nbsp;&nbsp; 9-1-2030 | 330000 | &nbsp;&nbsp; 332977 |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. BDC | 5.88 | &nbsp;&nbsp; 3-1-2029 | 145000 | &nbsp;&nbsp; 148986 |
| &nbsp;&nbsp;&nbsp; Ares Strategic Income Fund BDC | 5.70 | &nbsp;&nbsp; 3-15-2028 | 345000 | &nbsp;&nbsp; 349481 |
| &nbsp;&nbsp;&nbsp; Blue Owl Capital Corp. BDC | 5.95 | &nbsp;&nbsp; 3-15-2029 | 525000 | &nbsp;&nbsp; 531602 |
|  |  |  |  | &nbsp;&nbsp; **1832546** |
| **REITs: 0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 5.15 | &nbsp;&nbsp; 4-15-2053 | 280000 | &nbsp;&nbsp; 247526 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 138000 | &nbsp;&nbsp; 149465 |
| &nbsp;&nbsp;&nbsp; EPR Properties | 3.60 | &nbsp;&nbsp; 11-15-2031 | 235000 | &nbsp;&nbsp; 218372 |
| &nbsp;&nbsp;&nbsp; Equinix Europe 2 Financing Corp. LLC | 4.60 | &nbsp;&nbsp; 11-15-2030 | 260000 | &nbsp;&nbsp; 261707 |
| &nbsp;&nbsp;&nbsp; Essential Properties LP | 2.95 | &nbsp;&nbsp; 7-15-2031 | 500000 | &nbsp;&nbsp; 456912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance <br> Corp.144A<br>| 7.00 | &nbsp;&nbsp; 7-15-2031 | 99000 | &nbsp;&nbsp; 104941 |
| &nbsp;&nbsp;&nbsp; Piedmont Operating Partnership LP | 2.75 | &nbsp;&nbsp; 4-1-2032 | 125000 | &nbsp;&nbsp; 107232 |
| &nbsp;&nbsp;&nbsp; Piedmont Operating Partnership LP | 9.25 | &nbsp;&nbsp; 7-20-2028 | 270000 | &nbsp;&nbsp; 299036 |
|  |  |  |  | &nbsp;&nbsp; **1845191** |

---

See accompanying notes to portfolio of investments

8 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Industrial: 0.90%** |  |  |  |  |
| **Aerospace/defense: 0.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 5.81<br> %<br>| &nbsp;&nbsp; 5-1-2050 | $270000 | &nbsp;&nbsp; $268880 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.144A | 9.75 | &nbsp;&nbsp; 11-15-2030 | 510000 | &nbsp;&nbsp; 558762 |
|  |  |  |  | &nbsp;&nbsp; **827642** |
| **Building materials: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 250000 | &nbsp;&nbsp; **209062** |
| **Miscellaneous manufacturing: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 390000 | &nbsp;&nbsp; **389238** |
| **Packaging & containers: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AptarGroup, Inc. | 4.75 | &nbsp;&nbsp; 3-30-2031 | 420000 | &nbsp;&nbsp; **423955** |
| **Transportation: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc. | 6.05 | &nbsp;&nbsp; 5-14-2065 | 340000 | &nbsp;&nbsp; **357792** |
| **Trucking & leasing: 0.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 6-15-2032 | 830000 | &nbsp;&nbsp; **870503** |
| **Technology: 1.01%** |  |  |  |  |
| **Computers: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 5.60 | &nbsp;&nbsp; 10-15-2054 | 380000 | &nbsp;&nbsp; 355656 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc. | 2.05 | &nbsp;&nbsp; 10-15-2026 | 165000 | &nbsp;&nbsp; 161765 |
|  |  |  |  | &nbsp;&nbsp; **517421** |
| **Semiconductors: 0.39%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC144A | 6.20 | &nbsp;&nbsp; 1-25-2037 | 1025000 | &nbsp;&nbsp; 1092753 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | 2.80 | &nbsp;&nbsp; 8-12-2041 | 50000 | &nbsp;&nbsp; 35474 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | 3.25 | &nbsp;&nbsp; 11-15-2049 | 300000 | &nbsp;&nbsp; 197434 |
|  |  |  |  | &nbsp;&nbsp; **1325661** |
| **Software: 0.47%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 385000 | &nbsp;&nbsp; 405558 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 3.85 | &nbsp;&nbsp; 4-1-2060 | 265000 | &nbsp;&nbsp; 172877 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 4.45 | &nbsp;&nbsp; 9-26-2030 | 605000 | &nbsp;&nbsp; 596150 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 5.38 | &nbsp;&nbsp; 9-27-2054 | 485000 | &nbsp;&nbsp; 414285 |
|  |  |  |  | &nbsp;&nbsp; **1588870** |
| **Utilities: 1.94%** |  |  |  |  |
| **Electric: 1.82%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 45000 | &nbsp;&nbsp; 45905 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas & Electric Co. | 5.45 | &nbsp;&nbsp; 6-1-2035 | 340000 | &nbsp;&nbsp; 355529 |
| &nbsp;&nbsp;&nbsp; Basin Electric Power Cooperative144A | 5.85 | &nbsp;&nbsp; 10-15-2055 | 225000 | &nbsp;&nbsp; 225268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. (5 Year Treasury Constant <br> Maturity+2.21%)±<br>| 6.63 | &nbsp;&nbsp; 5-15-2055 | 230000 | &nbsp;&nbsp; 238030 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | 3.85 | &nbsp;&nbsp; 6-15-2034 | 165000 | &nbsp;&nbsp; 190785 |
| &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC | 4.85 | &nbsp;&nbsp; 12-1-2035 | 220000 | &nbsp;&nbsp; 221156 |
| &nbsp;&nbsp;&nbsp; Duke Energy Indiana LLC | 5.40 | &nbsp;&nbsp; 4-1-2053 | 305000 | &nbsp;&nbsp; 296720 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 9

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Entergy Mississippi LLC | 5.80<br> %<br>| &nbsp;&nbsp; 4-15-2055 | $240000 | &nbsp;&nbsp; $246894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (5 Year Treasury Constant <br> Maturity+3.14%)±<br>| 7.63 | &nbsp;&nbsp; 12-15-2054 | 290000 | &nbsp;&nbsp; 305442 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. (5 Year Treasury Constant Maturity+2.56%)± | 6.65 | &nbsp;&nbsp; 6-1-2055 | 225000 | &nbsp;&nbsp; 229214 |
| &nbsp;&nbsp;&nbsp; Interstate Power & Light Co. | 5.60 | &nbsp;&nbsp; 6-29-2035 | 235000 | &nbsp;&nbsp; 246301 |
| &nbsp;&nbsp;&nbsp; Niagara Mohawk Power Corp.144A | 6.00 | &nbsp;&nbsp; 7-3-2055 | 355000 | &nbsp;&nbsp; 366082 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc.144A | 5.41 | &nbsp;&nbsp; 10-15-2035 | 350000 | &nbsp;&nbsp; 350445 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 5.25 | &nbsp;&nbsp; 7-1-2030 | 103000 | &nbsp;&nbsp; 102020 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. (5 Year Treasury Constant Maturity+3.88%)± | 7.38 | &nbsp;&nbsp; 3-15-2055 | 598000 | &nbsp;&nbsp; 618245 |
| &nbsp;&nbsp;&nbsp; PSEG Power LLC144A | 5.75 | &nbsp;&nbsp; 5-15-2035 | 400000 | &nbsp;&nbsp; 419759 |
| &nbsp;&nbsp;&nbsp; Sempra (5 Year Treasury Constant Maturity+2.35%)± | 6.63 | &nbsp;&nbsp; 4-1-2055 | 245000 | &nbsp;&nbsp; 247621 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. | 3.65 | &nbsp;&nbsp; 2-1-2050 | 155000 | &nbsp;&nbsp; 109625 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. | 5.75 | &nbsp;&nbsp; 4-15-2054 | 310000 | &nbsp;&nbsp; 297899 |
| &nbsp;&nbsp;&nbsp; Southwestern Public Service Co. | 6.00 | &nbsp;&nbsp; 6-1-2054 | 220000 | &nbsp;&nbsp; 228438 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 3.70 | &nbsp;&nbsp; 1-30-2027 | 125000 | &nbsp;&nbsp; 124004 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 4.60 | &nbsp;&nbsp; 10-15-2030 | 385000 | &nbsp;&nbsp; 384180 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 5.00 | &nbsp;&nbsp; 7-31-2027 | 365000 | &nbsp;&nbsp; 366169 |
|  |  |  |  | &nbsp;&nbsp; **6215731** |
| **Gas: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brooklyn Union Gas Co.144A | 6.39 | &nbsp;&nbsp; 9-15-2033 | 370000 | &nbsp;&nbsp; **401843** |
| **Total corporate bonds and notes (Cost $71,822,454)** |  |  |  | &nbsp;&nbsp; **72934189** |
| **Foreign corporate bonds and notes: 2.94%** |  |  |  |  |
| **Communications: 0.64%** |  |  |  |  |
| **Internet: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United Group BV144A | 6.50 | &nbsp;&nbsp; 10-31-2031 | 115000 | &nbsp;&nbsp; **136633** |
| **Media: 0.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tele Columbus AG (PIK at 10.00%)144A¥ | 10.00 | &nbsp;&nbsp; 1-1-2029 | 5250 | &nbsp;&nbsp; **4092** |
| **Telecommunications: 0.60%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; British Telecommunications PLC | 3.13 | &nbsp;&nbsp; 2-11-2032 | 195000 | &nbsp;&nbsp; 223981 |
| &nbsp;&nbsp;&nbsp; British Telecommunications PLC (UK Gilts 5 Year+3.82%)± | 8.38 | &nbsp;&nbsp; 12-20-2083 | 100000 | &nbsp;&nbsp; 141861 |
| &nbsp;&nbsp;&nbsp; Fibercop SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 130000 | &nbsp;&nbsp; 140965 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 3.88 | &nbsp;&nbsp; 7-3-2031 | 100000 | &nbsp;&nbsp; 120446 |
| &nbsp;&nbsp;&nbsp; Lorca Telecom Bondco SA | 4.00 | &nbsp;&nbsp; 9-18-2027 | 215000 | &nbsp;&nbsp; 249827 |
| &nbsp;&nbsp;&nbsp; SES SA (EURIBOR ICE Swap Rate 11:00am+3.23%)± | 5.50 | &nbsp;&nbsp; 9-12-2054 | 255000 | &nbsp;&nbsp; 287627 |
| &nbsp;&nbsp;&nbsp; TDC Net AS | 6.50 | &nbsp;&nbsp; 6-1-2031 | 250000 | &nbsp;&nbsp; 321415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telefonica Europe BV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 7 Year+3.35%)ʊ±<br>| 6.14 | &nbsp;&nbsp; 2-3-2030 | 200000 | &nbsp;&nbsp; 247530 |
| &nbsp;&nbsp;&nbsp; VMED O2 U.K. Financing I PLC | 5.63 | &nbsp;&nbsp; 4-15-2032 | 150000 | &nbsp;&nbsp; 176195 |
| &nbsp;&nbsp;&nbsp; Zegona Finance PLC144A | 6.75 | &nbsp;&nbsp; 7-15-2029 | 112500 | &nbsp;&nbsp; 137279 |
|  |  |  |  | &nbsp;&nbsp; **2047126** |
| **Consumer, cyclical: 0.32%** |  |  |  |  |
| **Entertainment: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV | 4.00 | &nbsp;&nbsp; 6-13-2031 | 115000 | &nbsp;&nbsp; **138310** |

---

See accompanying notes to portfolio of investments

10 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Leisure time: 0.04%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TUI AG | 5.88<br> %<br>| &nbsp;&nbsp; 3-15-2029 | EUR | 110000 | &nbsp;&nbsp; **$132339** |
| **Lodging: 0.17%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Essendi SA | 5.50 | &nbsp;&nbsp; 11-15-2031 | EUR | 500000 | &nbsp;&nbsp; **593445** |
| **Retail: 0.07%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dufry One BV | 4.50 | &nbsp;&nbsp; 5-23-2032 | EUR | 101000 | &nbsp;&nbsp; 120300 |
| &nbsp;&nbsp;&nbsp; Fressnapf Holding SE | 5.25 | &nbsp;&nbsp; 10-31-2031 | EUR | 100000 | &nbsp;&nbsp; 116938 |
|  |  |  |  |  | &nbsp;&nbsp; **237238** |
| **Consumer, non-cyclical: 0.35%** |  |  |  |  |  |
| **Agriculture: 0.03%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BAT International Finance PLC | 2.25 | &nbsp;&nbsp; 1-16-2030 | EUR | 100000 | &nbsp;&nbsp; **112572** |
| **Commercial services: 0.20%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nexi SpA | 2.13 | &nbsp;&nbsp; 4-30-2029 | EUR | 150000 | &nbsp;&nbsp; 167187 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial Finance BV | 3.88 | &nbsp;&nbsp; 6-27-2027 | EUR | 290000 | &nbsp;&nbsp; 342144 |
| &nbsp;&nbsp;&nbsp; Transurban Finance Co. Pty. Ltd. | 4.23 | &nbsp;&nbsp; 4-26-2033 | EUR | 135000 | &nbsp;&nbsp; 163487 |
|  |  |  |  |  | &nbsp;&nbsp; **672818** |
| **Food: 0.12%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Iceland Bondco PLC | 10.88 | &nbsp;&nbsp; 12-15-2027 | GBP | 149000 | &nbsp;&nbsp; 208762 |
| &nbsp;&nbsp;&nbsp; Market Bidco Finco PLC | 5.50 | &nbsp;&nbsp; 11-4-2027 | GBP | 140000 | &nbsp;&nbsp; 185542 |
|  |  |  |  |  | &nbsp;&nbsp; **394304** |
| **Energy: 0.13%** |  |  |  |  |  |
| **Oil & gas: 0.13%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | 1.13 | &nbsp;&nbsp; 5-12-2029 | EUR | 200000 | &nbsp;&nbsp; 217444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wintershall Dea Finance 2 BV Series NC8 (EUR Swap Annual <br> (vs. 6 Month EURIBOR) 5 Year+3.32%)ʊ±<br>| 3.00 | &nbsp;&nbsp; 7-20-2028 | EUR | 200000 | &nbsp;&nbsp; 223692 |
|  |  |  |  |  | &nbsp;&nbsp; **441136** |
| **Financial: 0.75%** |  |  |  |  |  |
| **Banks: 0.51%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABN AMRO Bank NV (EUR Swap Annual (vs. 6 Month EURIBOR) <br> 5 Year+3.90%)ʊ±<br>| 4.75 | &nbsp;&nbsp; 9-22-2027 | EUR | 200000 | &nbsp;&nbsp; 233496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAWAG Group AG (EURIBOR ICE Swap Rate <br> 11:00am+5.05%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-18-2029 | EUR | 200000 | &nbsp;&nbsp; 246386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CaixaBank SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.55%)±<br>| 6.25 | &nbsp;&nbsp; 2-23-2033 | EUR | 100000 | &nbsp;&nbsp; 123120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA (EURIBOR ICE Swap Rate <br> 11:00am+4.44%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-23-2028 | EUR | 200000 | &nbsp;&nbsp; 248206 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (3 Month EURIBOR+2.95%)± | 5.00 | &nbsp;&nbsp; 9-5-2030 | EUR | 100000 | &nbsp;&nbsp; 123259 |
| &nbsp;&nbsp;&nbsp; KBC Group NV (EURIBOR ICE Swap Rate 11:00am+4.93%)ʊ± | 8.00 | &nbsp;&nbsp; 9-5-2028 | EUR | 200000 | &nbsp;&nbsp; 255669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nykredit Realkredit AS (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+4.57%)ʊ±<br>| 4.13 | &nbsp;&nbsp; 4-15-2026 | EUR | 200000 | &nbsp;&nbsp; 232205 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 11

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Banks**(continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG (EURIBOR ICE Swap Rate <br> 11:00am+5.20%)±<br>| 7.38<br> %<br>| &nbsp;&nbsp; 12-20-2032 | EUR | 100000 | &nbsp;&nbsp; $124133 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (EURIBOR ICE Swap Rate 11:00am+4.95%)± | 7.75 | &nbsp;&nbsp; 3-1-2029 | EUR | 125000 | &nbsp;&nbsp; 160611 |
|  |  |  |  |  | &nbsp;&nbsp; **1747085** |
| **Insurance: 0.04%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AXA SA | 3.63 | &nbsp;&nbsp; 1-10-2033 | EUR | 100000 | &nbsp;&nbsp; **118921** |
| **Real estate: 0.20%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aroundtown SA | 3.50 | &nbsp;&nbsp; 5-13-2030 | EUR | 400000 | &nbsp;&nbsp; 460687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castellum AB (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.45%)ʊ±<br>| 3.13 | &nbsp;&nbsp; 12-2-2026 | EUR | 200000 | &nbsp;&nbsp; 229245 |
|  |  |  |  |  | &nbsp;&nbsp; **689932** |
| **Government securities: 0.07%** |  |  |  |  |  |
| **Multi-national: 0.07%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Banque Ouest Africaine de Developpement | 2.75 | &nbsp;&nbsp; 1-22-2033 | EUR | 230000 | &nbsp;&nbsp; **227694** |
| **Industrial: 0.08%** |  |  |  |  |  |
| **Engineering & construction: 0.04%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane SpA | 1.75 | &nbsp;&nbsp; 4-19-2031 | EUR | 120000 | &nbsp;&nbsp; **129217** |
| **Packaging & containers: 0.04%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OI European Group BV | 6.25 | &nbsp;&nbsp; 5-15-2028 | EUR | 130000 | &nbsp;&nbsp; **155248** |
| **Technology: 0.08%** |  |  |  |  |  |
| **Computers: 0.08%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Almaviva-The Italian Innovation Co. SpA144A | 5.00 | &nbsp;&nbsp; 10-30-2030 | EUR | 135000 | &nbsp;&nbsp; 157299 |
| &nbsp;&nbsp;&nbsp; Teleperformance SE | 5.75 | &nbsp;&nbsp; 11-22-2031 | EUR | 100000 | &nbsp;&nbsp; 126712 |
|  |  |  |  |  | &nbsp;&nbsp; **284011** |
| **Utilities: 0.52%** |  |  |  |  |  |
| **Electric: 0.17%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enel Finance International NV | 4.00 | &nbsp;&nbsp; 2-20-2031 | EUR | 280000 | &nbsp;&nbsp; 339116 |
| &nbsp;&nbsp;&nbsp; Energia Group Roi Financeco DAC144A | 6.88 | &nbsp;&nbsp; 7-31-2028 | EUR | 100000 | &nbsp;&nbsp; 120152 |
| &nbsp;&nbsp;&nbsp; Vattenfall AB (UK Gilts 5 Year+1.90%)± | 2.50 | &nbsp;&nbsp; 6-29-2083 | GBP | 105000 | &nbsp;&nbsp; 129996 |
|  |  |  |  |  | &nbsp;&nbsp; **589264** |
| **Gas: 0.25%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; APA Infrastructure Ltd. | 2.00 | &nbsp;&nbsp; 7-15-2030 | EUR | 150000 | &nbsp;&nbsp; 165893 |
| &nbsp;&nbsp;&nbsp; Centrica PLC (UK Gilts 5 Year+2.51%)± | 6.50 | &nbsp;&nbsp; 5-21-2055 | GBP | 500000 | &nbsp;&nbsp; 678337 |
|  |  |  |  |  | &nbsp;&nbsp; **844230** |
| **Water: 0.10%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holding d'Infrastructures des Metiers de l'Environnement <br> SAS<br>| 4.88 | &nbsp;&nbsp; 10-24-2029 | EUR | 265000 | &nbsp;&nbsp; **318577** |
| **Total foreign corporate bonds and notes (Cost $9,325,175)** |  |  |  |  | &nbsp;&nbsp; **10014192** |

---

See accompanying notes to portfolio of investments

12 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Foreign government bonds: 5.08%** |  |  |  |  |  |
| **Australia: 0.45%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; New South Wales Treasury Corp. | 3.00<br> %<br>| &nbsp;&nbsp; 4-20-2029 | AUD | 1215000 | &nbsp;&nbsp; $767056 |
| &nbsp;&nbsp;&nbsp; Queensland Treasury Corp.144A | 3.50 | &nbsp;&nbsp; 8-21-2030 | AUD | 1210000 | &nbsp;&nbsp; 763361 |
|  |  |  |  |  | &nbsp;&nbsp; **1530417** |
| **Brazil: 0.95%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brazil | 10.00 | &nbsp;&nbsp; 1-1-2027 | BRL | 17740000 | &nbsp;&nbsp; **3218472** |
| **Colombia: 0.44%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia TES | 5.75 | &nbsp;&nbsp; 11-3-2027 | COP | 6200000000 | &nbsp;&nbsp; **1515180** |
| **Czech Republic: 0.23%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Czech Republic | 5.00 | &nbsp;&nbsp; 9-30-2030 | CZK | 15630000 | &nbsp;&nbsp; **777632** |
| **France: 1.11%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; French Republic144A | 2.70 | &nbsp;&nbsp; 2-25-2031 | EUR | 3250000 | &nbsp;&nbsp; **3764349** |
| **Luxembourg: 0.44%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; European Union | 2.63 | &nbsp;&nbsp; 7-4-2028 | EUR | 1290000 | &nbsp;&nbsp; **1511987** |
| **Mexico: 0.23%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Mexico Bonos | 8.50 | &nbsp;&nbsp; 2-28-2030 | MXN | 14000000 | &nbsp;&nbsp; **773270** |
| **Singapore: 0.24%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Singapore Government Bonds | 2.88 | &nbsp;&nbsp; 9-1-2027 | SGD | 1025000 | &nbsp;&nbsp; **811347** |
| **Spain: 0.25%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Spain Government Bonds144A | 1.25 | &nbsp;&nbsp; 10-31-2030 | EUR | 780000 | &nbsp;&nbsp; **852348** |
| **United Kingdom: 0.74%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.K. Gilts | 3.75 | &nbsp;&nbsp; 3-7-2027 | GBP | 435000 | &nbsp;&nbsp; 575757 |
| &nbsp;&nbsp;&nbsp; U.K. Gilts | 4.13 | &nbsp;&nbsp; 7-22-2029 | GBP | 610000 | &nbsp;&nbsp; 815445 |
| &nbsp;&nbsp;&nbsp; U.K. Gilts | 4.38 | &nbsp;&nbsp; 3-7-2030 | GBP | 850000 | &nbsp;&nbsp; 1146067 |
|  |  |  |  |  | &nbsp;&nbsp; **2537269** |
| **Total foreign government bonds (Cost $17,112,137)** |  |  |  |  | &nbsp;&nbsp; **17292271** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 0.60%** |  |  |
| **Exchange-traded funds: 0.60%** |  |  |
| &nbsp;&nbsp;&nbsp; State Street SPDR Portfolio High Yield Bond ETF | 14268 | &nbsp;&nbsp; 339864 |
| &nbsp;&nbsp;&nbsp; Vanguard Intermediate-Term Corporate Bond ETF | 20139 | &nbsp;&nbsp; 1702752 |
| **Total investment companies (Cost $2,020,454)** |  | &nbsp;&nbsp; **2042616** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Loans: 0.19%** |  |  |  |  |
| **Communications: 0.05%** |  |  |  |  |
| **Telecommunications: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (U.S. SOFR 1 Month+2.35%)± | 6.38 | &nbsp;&nbsp; 4-15-2030 | $169136 | &nbsp;&nbsp; **167994** |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 13

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Consumer, cyclical: 0.07%** |  |  |  |  |
| **Airlines: 0.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 <br> Month+3.75%)±<br>| 7.74<br> %<br>| &nbsp;&nbsp; 4-1-2031 | $14850 | &nbsp;&nbsp; **$14951** |
| **Retail: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. (U.S. SOFR 3 <br> Month+3.25%)±<br>| 7.51 | &nbsp;&nbsp; 3-3-2028 | 235000 | &nbsp;&nbsp; **230855** |
| **Financial: 0.07%** |  |  |  |  |
| **Insurance: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asurion LLC (U.S. SOFR 1 Month+5.25%)± | 9.28 | &nbsp;&nbsp; 1-31-2028 | 235000 | &nbsp;&nbsp; **224573** |
| **Total loans (Cost $644,174)** |  |  |  | &nbsp;&nbsp; **638373** |
| **Non-agency mortgage-backed securities: 6.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1345 Trust Series 2025-AOA Class A (U.S. SOFR 1 <br> Month+1.60%)144A±<br>| 5.56 | &nbsp;&nbsp; 6-15-2042 | 750000 | &nbsp;&nbsp; 751406 |
| &nbsp;&nbsp;&nbsp; A&D Mortgage Trust Series 2024-NQM5 Class A1144A | 5.70 | &nbsp;&nbsp; 11-25-2069 | 831306 | &nbsp;&nbsp; 835661 |
| &nbsp;&nbsp;&nbsp; A&D Mortgage Trust Series 2024-NQM6 Class A2144A±± | 5.92 | &nbsp;&nbsp; 1-25-2070 | 898051 | &nbsp;&nbsp; 904792 |
| &nbsp;&nbsp;&nbsp; A&D Mortgage Trust Series 2025-NQM3 Class A1144A±± | 5.37 | &nbsp;&nbsp; 8-25-2070 | 389684 | &nbsp;&nbsp; 390801 |
| &nbsp;&nbsp;&nbsp; Ajax Mortgage Loan Trust Series 2021-E Class A1144A±± | 1.74 | &nbsp;&nbsp; 12-25-2060 | 1057317 | &nbsp;&nbsp; 938854 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust Series 2025-1 Class A1144A±± | 5.69 | &nbsp;&nbsp; 1-25-2070 | 868247 | &nbsp;&nbsp; 875622 |
| &nbsp;&nbsp;&nbsp; BAHA Trust Series 2024-MAR Class B144A±± | 7.07 | &nbsp;&nbsp; 12-10-2041 | 1000000 | &nbsp;&nbsp; 1045750 |
| &nbsp;&nbsp;&nbsp; Bank Series 2019-BN19 Class A3 | 3.18 | &nbsp;&nbsp; 8-15-2061 | 135000 | &nbsp;&nbsp; 128020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHMS Commercial Mortgage Trust Series 2025-ATLS Class B <br> (U.S. SOFR 1 Month+2.55%)144A±<br>| 6.51 | &nbsp;&nbsp; 8-15-2042 | 210000 | &nbsp;&nbsp; 210132 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2019-OC11 Class A144A | 3.20 | &nbsp;&nbsp; 12-9-2041 | 1300000 | &nbsp;&nbsp; 1236720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2025-VOLT Class B (U.S. SOFR 1 <br> Month+2.10%)144A±%%<br>| 6.10 | &nbsp;&nbsp; 12-15-2044 | 840000 | &nbsp;&nbsp; 841050 |
| &nbsp;&nbsp;&nbsp; CSMC Trust Series 2018-RPL9 Class A144A±± | 3.85 | &nbsp;&nbsp; 9-25-2057 | 770502 | &nbsp;&nbsp; 747723 |
| &nbsp;&nbsp;&nbsp; EFMT Series 2025-NQM3 Class A1144A±± | 5.49 | &nbsp;&nbsp; 8-25-2070 | 780565 | &nbsp;&nbsp; 785060 |
| &nbsp;&nbsp;&nbsp; Harvest Commercial Capital Loan Trust Series 2024-1 Class A | 6.16 | &nbsp;&nbsp; 10-25-2056 | 1113880 | &nbsp;&nbsp; 1148254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HAVN Trust Series 2025-MOB Class A (U.S. SOFR 1 <br> Month+1.70%)144A±<br>| 5.66 | &nbsp;&nbsp; 10-15-2035 | 320000 | &nbsp;&nbsp; 320100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-7MPR <br> Class A1D144A±±<br>| 5.32 | &nbsp;&nbsp; 2-25-2056 | 1119751 | &nbsp;&nbsp; 1122459 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-CES1 Class A3144A±± | 6.07 | &nbsp;&nbsp; 5-25-2055 | 1000000 | &nbsp;&nbsp; 1014543 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2014-150E Class A144A | 3.91 | &nbsp;&nbsp; 9-9-2032 | 1320000 | &nbsp;&nbsp; 1194810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Residential Mortgage Loan Trust Series 2025-<br> NQM5 Class A1144A±±<br>| 5.44 | &nbsp;&nbsp; 7-25-2070 | 417473 | &nbsp;&nbsp; 420363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; One New York Plaza Trust Series 2020-1NYP Class A <br> (U.S. SOFR 1 Month+1.06%)144A±<br>| 5.02 | &nbsp;&nbsp; 1-15-2036 | 225000 | &nbsp;&nbsp; 216349 |
| &nbsp;&nbsp;&nbsp; PRKCM Trust Series 2022-AFC1 Class A1A144A±± | 4.10 | &nbsp;&nbsp; 4-25-2057 | 590408 | &nbsp;&nbsp; 589836 |
| &nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2024-CES9 Class A1A144A±± | 5.58 | &nbsp;&nbsp; 12-25-2044 | 162809 | &nbsp;&nbsp; 164249 |
| &nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2025-CES1 Class A1A144A±± | 5.65 | &nbsp;&nbsp; 1-25-2045 | 807596 | &nbsp;&nbsp; 816007 |
| &nbsp;&nbsp;&nbsp; ROCK Trust Series 2024-CNTR Class A144A | 5.39 | &nbsp;&nbsp; 11-13-2041 | 1000000 | &nbsp;&nbsp; 1031381 |
| &nbsp;&nbsp;&nbsp; ROCK Trust Series 2024-CNTR Class B144A | 5.93 | &nbsp;&nbsp; 11-13-2041 | 225000 | &nbsp;&nbsp; 233335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDAL Trust Series 2025-DAL Class A (U.S. SOFR 1 <br> Month+2.44%)144A±<br>| 6.40 | &nbsp;&nbsp; 4-15-2042 | 760000 | &nbsp;&nbsp; 765115 |

---

See accompanying notes to portfolio of investments

14 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust Series 2015-<br> 5AVE Class D144A±±<br>| 4.53<br> %<br>| &nbsp;&nbsp; 1-5-2043 | $1000000 | &nbsp;&nbsp; $762345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust Series 2025-DATA Class B <br> (U.S. SOFR 1 Month+1.84%)144A±<br>| 5.80 | &nbsp;&nbsp; 2-15-2042 | 1000000 | &nbsp;&nbsp; 991885 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2024-9 Class M1144A±± | 6.20 | &nbsp;&nbsp; 11-25-2069 | 200000 | &nbsp;&nbsp; 201790 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities** <br> **(Cost $20,597,305)**<br>|  |  |  | &nbsp;&nbsp; **20684412** |
| **U.S. Treasury securities: 13.44%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2044 | 360000 | &nbsp;&nbsp; 360141 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2045 | 1265000 | &nbsp;&nbsp; 1264012 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 2-15-2045 | 3475000 | &nbsp;&nbsp; 3529840 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 5-15-2055 | 1519000 | &nbsp;&nbsp; 1537275 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 8-15-2055 | 4520000 | &nbsp;&nbsp; 4576500 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.88 | &nbsp;&nbsp; 8-15-2045 | 14745000 | &nbsp;&nbsp; 15205781 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes | 1.88 | &nbsp;&nbsp; 7-15-2035 | 1613247 | &nbsp;&nbsp; 1627790 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 3.63 | &nbsp;&nbsp; 9-30-2030 | 5452000 | &nbsp;&nbsp; 5457111 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 4.00 | &nbsp;&nbsp; 11-15-2035 | 5440000 | &nbsp;&nbsp; 5431500 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 4.25 | &nbsp;&nbsp; 8-15-2035 | 6650000 | &nbsp;&nbsp; 6778844 |
| **Total U.S. Treasury securities (Cost $45,515,577)** |  |  |  | &nbsp;&nbsp; **45768794** |
| **Yankee corporate bonds and notes: 8.20%** |  |  |  |  |
| **Basic materials: 0.35%** |  |  |  |  |
| **Chemicals: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV144A | 7.25 | &nbsp;&nbsp; 2-13-2033 | 420000 | &nbsp;&nbsp; 153300 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de CV144A | 7.50 | &nbsp;&nbsp; 5-13-2035 | 260000 | &nbsp;&nbsp; 255606 |
|  |  |  |  | &nbsp;&nbsp; **408906** |
| **Mining: 0.23%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Glencore Finance Canada Ltd.144A | 6.90 | &nbsp;&nbsp; 11-15-2037 | 155000 | &nbsp;&nbsp; 176790 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA PLC | 5.75 | &nbsp;&nbsp; 3-14-2055 | 585000 | &nbsp;&nbsp; 605680 |
|  |  |  |  | &nbsp;&nbsp; **782470** |
| **Communications: 0.57%** |  |  |  |  |
| **Media: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 31000 | &nbsp;&nbsp; **28904** |
| **Telecommunications: 0.56%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia Telecomunicaciones SA ESP144A | 4.95 | &nbsp;&nbsp; 7-17-2030 | 315000 | &nbsp;&nbsp; 287123 |
| &nbsp;&nbsp;&nbsp; Nokia Oyj | 6.63 | &nbsp;&nbsp; 5-15-2039 | 130000 | &nbsp;&nbsp; 139610 |
| &nbsp;&nbsp;&nbsp; NTT Finance Corp.144A | 4.88 | &nbsp;&nbsp; 7-16-2030 | 635000 | &nbsp;&nbsp; 648727 |
| &nbsp;&nbsp;&nbsp; NTT Finance Corp.144A | 5.17 | &nbsp;&nbsp; 7-16-2032 | 485000 | &nbsp;&nbsp; 500132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13 | &nbsp;&nbsp; 4-15-2055 | 76000 | &nbsp;&nbsp; 80450 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. (5 Year Treasury Constant Maturity+2.71%)± | 7.00 | &nbsp;&nbsp; 10-15-2055 | 260000 | &nbsp;&nbsp; 271409 |
|  |  |  |  | &nbsp;&nbsp; **1927451** |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 15

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Consumer, cyclical: 0.64%** |  |  |  |  |
| **Airlines: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Air Canada Pass-Through Trust Series 2020-1 Class C144A | 10.50<br> %<br>| &nbsp;&nbsp; 7-15-2026 | $210000 | &nbsp;&nbsp; **$216836** |
| **Apparel: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gildan Activewear, Inc.144A | 5.40 | &nbsp;&nbsp; 10-7-2035 | 215000 | &nbsp;&nbsp; **214898** |
| **Leisure time: 0.51%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 890000 | &nbsp;&nbsp; 916779 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 5.63 | &nbsp;&nbsp; 9-30-2031 | 130000 | &nbsp;&nbsp; 132868 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 6.00 | &nbsp;&nbsp; 2-1-2033 | 675000 | &nbsp;&nbsp; 694991 |
|  |  |  |  | &nbsp;&nbsp; **1744638** |
| **Consumer, non-cyclical: 0.17%** |  |  |  |  |
| **Agriculture: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc.144A | 5.85 | &nbsp;&nbsp; 6-15-2035 | 475000 | &nbsp;&nbsp; **510083** |
| **Pharmaceuticals: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV | 8.13 | &nbsp;&nbsp; 9-15-2031 | 50000 | &nbsp;&nbsp; **57525** |
| **Energy: 0.99%** |  |  |  |  |
| **Oil & gas: 0.90%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aker BP ASA144A | 5.80 | &nbsp;&nbsp; 10-1-2054 | 270000 | &nbsp;&nbsp; 249966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+2.15%)ʊ±<br>| 6.45 | &nbsp;&nbsp; 12-1-2033 | 245000 | &nbsp;&nbsp; 260413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+4.40%)ʊ±<br>| 4.88 | &nbsp;&nbsp; 3-22-2030 | 755000 | &nbsp;&nbsp; 752585 |
| &nbsp;&nbsp;&nbsp; Eni SpA144A | 5.95 | &nbsp;&nbsp; 5-15-2054 | 625000 | &nbsp;&nbsp; 628165 |
| &nbsp;&nbsp;&nbsp; Santos Finance Ltd.144A | 5.75 | &nbsp;&nbsp; 11-13-2035 | 450000 | &nbsp;&nbsp; 451187 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co.144A | 5.38 | &nbsp;&nbsp; 6-2-2035 | 365000 | &nbsp;&nbsp; 376678 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co.144A | 6.38 | &nbsp;&nbsp; 6-2-2055 | 340000 | &nbsp;&nbsp; 362476 |
|  |  |  |  | &nbsp;&nbsp; **3081470** |
| **Pipelines: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. (5 Year Treasury Constant Maturity+4.42%)± | 7.63 | &nbsp;&nbsp; 1-15-2083 | 50000 | &nbsp;&nbsp; 54552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc. Series 20-A (5 Year Treasury Constant <br> Maturity+5.31%)±<br>| 5.75 | &nbsp;&nbsp; 7-15-2080 | 245000 | &nbsp;&nbsp; 247606 |
|  |  |  |  | &nbsp;&nbsp; **302158** |
| **Financial: 4.73%** |  |  |  |  |
| **Banks: 3.59%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AIB Group PLC (U.S. SOFR+1.65%)144A± | 5.32 | &nbsp;&nbsp; 5-15-2031 | 510000 | &nbsp;&nbsp; 527302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.64%)144Aʊ±<br>| 5.88 | &nbsp;&nbsp; 1-24-2027 | 420000 | &nbsp;&nbsp; 414661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Nacional de Comercio Exterior SNC (5 Year Treasury <br> Constant Maturity+2.00%)144A±<br>| 2.72 | &nbsp;&nbsp; 8-11-2031 | 245000 | &nbsp;&nbsp; 238392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Santander Mexico SA Institucion de Banca Multiple <br> Grupo Financiero Santand (5 Year Treasury Constant <br> Maturity+3.00%)144A±<br>| 7.53 | &nbsp;&nbsp; 10-1-2028 | 250000 | &nbsp;&nbsp; 267154 |
| &nbsp;&nbsp;&nbsp; Banque Federative du Credit Mutuel SA144A | 5.19 | &nbsp;&nbsp; 2-16-2028 | 650000 | &nbsp;&nbsp; 664380 |

---

See accompanying notes to portfolio of investments

16 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Barclays PLC (U.S. SOFR+1.23%)± | 5.37<br> %<br>| &nbsp;&nbsp; 2-25-2031 | $665000 | &nbsp;&nbsp; $688994 |
| &nbsp;&nbsp;&nbsp; Barclays PLC (U.S. SOFR+1.59%)± | 5.79 | &nbsp;&nbsp; 2-25-2036 | 360000 | &nbsp;&nbsp; 380027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+4.90%)144Aʊ±<br>| 7.75 | &nbsp;&nbsp; 8-16-2029 | 215000 | &nbsp;&nbsp; 226631 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA (U.S. SOFR+1.92%)144A± | 5.91 | &nbsp;&nbsp; 11-19-2035 | 640000 | &nbsp;&nbsp; 669419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia (1 Year Treasury Constant <br> Maturity+1.32%)144A±<br>| 5.93 | &nbsp;&nbsp; 3-14-2046 | 720000 | &nbsp;&nbsp; 747332 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (U.S. SOFR+1.36%)144A± | 4.82 | &nbsp;&nbsp; 9-25-2033 | 435000 | &nbsp;&nbsp; 435984 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (U.S. SOFR+1.46%)144A± | 5.22 | &nbsp;&nbsp; 5-27-2031 | 395000 | &nbsp;&nbsp; 407293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.40%)144A±<br>| 5.71 | &nbsp;&nbsp; 3-1-2030 | 465000 | &nbsp;&nbsp; 484770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.75%)144A±<br>| 4.30 | &nbsp;&nbsp; 4-1-2028 | 835000 | &nbsp;&nbsp; 835875 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC (U.S. SOFR+1.57%)± | 5.24 | &nbsp;&nbsp; 5-13-2031 | 695000 | &nbsp;&nbsp; 718608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC (5 Year Treasury Constant <br> Maturity+4.82%)ʊ±<br>| 6.75 | &nbsp;&nbsp; 6-27-2026 | 215000 | &nbsp;&nbsp; 216880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Australia Bank Ltd. (5 Year Treasury Constant <br> Maturity+1.70%)144A±<br>| 3.35 | &nbsp;&nbsp; 1-12-2037 | 430000 | &nbsp;&nbsp; 395892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC (1 Year Treasury Constant <br> Maturity+1.05%)±<br>| 5.12 | &nbsp;&nbsp; 5-23-2031 | 1100000 | &nbsp;&nbsp; 1132325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC (1 Year Treasury Constant <br> Maturity+1.50%)±<br>| 5.78 | &nbsp;&nbsp; 3-1-2035 | 780000 | &nbsp;&nbsp; 830468 |
| &nbsp;&nbsp;&nbsp; NatWest Markets PLC144A | 1.60 | &nbsp;&nbsp; 9-29-2026 | 245000 | &nbsp;&nbsp; 240297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant <br> Maturity+0.85%)144A±<br>| 1.49 | &nbsp;&nbsp; 8-10-2027 | 515000 | &nbsp;&nbsp; 505390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant <br> Maturity+2.05%)144A±<br>| 4.70 | &nbsp;&nbsp; 8-5-2027 | 315000 | &nbsp;&nbsp; 315999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (5 Year Treasury Constant <br> Maturity+3.40%)144Aʊ±<br>| 4.88 | &nbsp;&nbsp; 2-12-2027 | 81000 | &nbsp;&nbsp; 79885 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (U.S. SOFR+1.73%)144A± | 3.09 | &nbsp;&nbsp; 5-14-2032 | 485000 | &nbsp;&nbsp; 452109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+3.63%)144Aʊ±<br>| 6.85 | &nbsp;&nbsp; 9-10-2029 | 360000 | &nbsp;&nbsp; 367496 |
|  |  |  |  | &nbsp;&nbsp; **12243563** |
| **Diversified financial services: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust (5 <br> Year Treasury Constant Maturity+2.72%)±<br>| 6.95 | &nbsp;&nbsp; 3-10-2055 | 160000 | &nbsp;&nbsp; 167795 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 2.75 | &nbsp;&nbsp; 2-21-2028 | 210000 | &nbsp;&nbsp; 202742 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 4.95 | &nbsp;&nbsp; 1-15-2028 | 255000 | &nbsp;&nbsp; 258007 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 3-1-2029 | 225000 | &nbsp;&nbsp; 233149 |
| &nbsp;&nbsp;&nbsp; Brookfield Asset Management Ltd. | 6.08 | &nbsp;&nbsp; 9-15-2055 | 240000 | &nbsp;&nbsp; 247407 |
|  |  |  |  | &nbsp;&nbsp; **1109100** |
| **Insurance: 0.67%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allianz SE (5 Year Treasury Constant Maturity+3.23%)144A± | 6.35 | &nbsp;&nbsp; 9-6-2053 | 645000 | &nbsp;&nbsp; 694054 |
| &nbsp;&nbsp;&nbsp; Aspen Insurance Holdings Ltd. | 5.75 | &nbsp;&nbsp; 7-1-2030 | 360000 | &nbsp;&nbsp; 376922 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp.144A | 5.46 | &nbsp;&nbsp; 9-22-2032 | 705000 | &nbsp;&nbsp; 729798 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 17

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Insurance**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. | 5.75<br> %<br>| &nbsp;&nbsp; 6-5-2033 | $240000 | &nbsp;&nbsp; $252218 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. | 5.80 | &nbsp;&nbsp; 4-1-2035 | 220000 | &nbsp;&nbsp; 231256 |
|  |  |  |  | &nbsp;&nbsp; **2284248** |
| **Private equity: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brookfield Finance, Inc. | 5.33 | &nbsp;&nbsp; 1-15-2036 | 470000 | &nbsp;&nbsp; **473529** |
| **Government securities: 0.33%** |  |  |  |  |
| **Multi-national: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; African Export-Import Bank144A | 3.80 | &nbsp;&nbsp; 5-17-2031 | 590000 | &nbsp;&nbsp; 529586 |
| &nbsp;&nbsp;&nbsp; Banque Ouest Africaine de Developpement144A | 4.70 | &nbsp;&nbsp; 10-22-2031 | 255000 | &nbsp;&nbsp; 234481 |
| &nbsp;&nbsp;&nbsp; Banque Ouest Africaine de Developpement144A | 5.00 | &nbsp;&nbsp; 7-27-2027 | 345000 | &nbsp;&nbsp; 342503 |
|  |  |  |  | &nbsp;&nbsp; **1106570** |
| **Industrial: 0.14%** |  |  |  |  |
| **Engineering & construction: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CIMIC Finance USA Pty. Ltd.144A | 7.00 | &nbsp;&nbsp; 3-25-2034 | 170000 | &nbsp;&nbsp; **186375** |
| **Trucking & leasing: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; SMBC Aviation Capital Finance DAC144A | 5.45 | &nbsp;&nbsp; 5-3-2028 | 270000 | &nbsp;&nbsp; **277075** |
| **Utilities: 0.28%** |  |  |  |  |
| **Electric: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad144A | 3.35 | &nbsp;&nbsp; 2-9-2031 | 540000 | &nbsp;&nbsp; 486549 |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad144A | 3.88 | &nbsp;&nbsp; 7-26-2033 | 460000 | &nbsp;&nbsp; 405467 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 75000 | &nbsp;&nbsp; 75549 |
|  |  |  |  | &nbsp;&nbsp; **967565** |
| **Total yankee corporate bonds and notes (Cost $27,236,096)** |  |  |  | &nbsp;&nbsp; **27923364** |
| **Yankee government bonds: 1.13%** |  |  |  |  |
| **Argentina: 0.19%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Argentinaøø | 0.75 | &nbsp;&nbsp; 7-9-2030 | 272000 | &nbsp;&nbsp; 224672 |
| &nbsp;&nbsp;&nbsp; Argentinaøø | 4.13 | &nbsp;&nbsp; 7-9-2035 | 180000 | &nbsp;&nbsp; 127413 |
| &nbsp;&nbsp;&nbsp; Ciudad Autonoma De Buenos Aires/Government Bonds144A | 7.80 | &nbsp;&nbsp; 11-26-2033 | 300000 | &nbsp;&nbsp; 301140 |
|  |  |  |  | &nbsp;&nbsp; **653225** |
| **Bermuda: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bermuda144A | 3.38 | &nbsp;&nbsp; 8-20-2050 | 340000 | &nbsp;&nbsp; **239357** |
| **Dominican Republic: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dominican Republic144A | 4.88 | &nbsp;&nbsp; 9-23-2032 | 295000 | &nbsp;&nbsp; **281032** |
| **Israel: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Israel | 5.75 | &nbsp;&nbsp; 3-12-2054 | 465000 | &nbsp;&nbsp; **453565** |
| **Ivory Coast: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ivory Coast144A | 8.25 | &nbsp;&nbsp; 1-30-2037 | 400000 | &nbsp;&nbsp; **418973** |

---

See accompanying notes to portfolio of investments

18 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Mexico: 0.43%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Mexico | 4.75<br> %<br>| &nbsp;&nbsp; 3-8-2044 | $145000 | &nbsp;&nbsp; $119886 |
| &nbsp;&nbsp;&nbsp; Mexico | 5.63 | &nbsp;&nbsp; 9-22-2035 | 375000 | &nbsp;&nbsp; 371070 |
| &nbsp;&nbsp;&nbsp; Mexico | 6.00 | &nbsp;&nbsp; 5-7-2036 | 300000 | &nbsp;&nbsp; 305520 |
| &nbsp;&nbsp;&nbsp; Mexico | 6.35 | &nbsp;&nbsp; 2-9-2035 | 300000 | &nbsp;&nbsp; 316035 |
| &nbsp;&nbsp;&nbsp; Mexico | 3.77 | &nbsp;&nbsp; 5-24-2061 | 565000 | &nbsp;&nbsp; 352515 |
|  |  |  |  | &nbsp;&nbsp; **1465026** |
| **Panama: 0.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Panama | 2.25 | &nbsp;&nbsp; 9-29-2032 | 400000 | &nbsp;&nbsp; **326440** |
| **Total yankee government bonds (Cost $3,712,415)** |  |  |  | &nbsp;&nbsp; **3837618** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | Yield | Shares |  |
| **Short-term investments: 4.70%** |  |  |  |
| **Investment companies: 1.77%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select Class♠∞## | 3.93 | 6009948 | &nbsp;&nbsp; **6009948** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | Principal |  |
| **U.S. Treasury securities: 2.93%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bills☼ |  | 3.64 | &nbsp;&nbsp; 12-18-2025 | $10000000 | &nbsp;&nbsp; **9981543** |
| **Total short-term investments (Cost $15,991,779)** |  |  |  |  | &nbsp;&nbsp; **15991491** |
| **Total investments in securities (Cost $348,399,123)** | 103.82<br> %<br>|  |  |  | &nbsp;&nbsp; 353558160 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (3.82)<br>|  |  |  | &nbsp;&nbsp; (12992604)<br>|
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$340565556** |

---

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

---

| |
|:---|
| The security is purchased on a when-issued basis. |
| The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| Variable rate investment. The rate shown is the rate in effect at period end. |
| The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| ¥A payment-in-kind (PIK) security is a security in which the issuer may make interest or dividend payments in cash or additional securities or a combination of both. <br> The rate shown is the rate in effect at period end.<br>|
| All or a portion of this security is segregated as collateral for when-issued securities. |
| The interest rate is determined and reset by the issuer periodically depending upon the terms of the security. The rate shown is the rate in effect at period end. |
| The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| The rate represents the 7-day annualized yield at period end. |
| Zero coupon security. The rate represents the current yield to maturity. |

---

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

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 19

------

Portfolio of investments—November 30, 2025 (unaudited)

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| AUD | Australian dollar |
| BDC | Business Development Company |
| BRL | Brazilian real |
| COP | Colombian peso |
| CZK | Czech Republic koruna |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| MXN | Mexican peso |
| REIT | Real estate investment trust |
| SGD | Singapore dollar |
| SOFR | Secured Overnight Financing Rate |

---

**Investments in affiliates**

An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class<br>| $11580005 | $63155494 | $(68725551)<br>| $0 | $0 | $6009948 | 6009948 | $93988 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| USD | 1285371 | COP | 5074000000 | Morgan Stanley, Inc. | 12-30-2025 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(61290)<br>|
| USD | 281618 | COP | 1100000000 | Morgan Stanley, Inc. | 12-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (10326)<br>|
| JPY | 160000000 | USD | 1101903 | Morgan Stanley, Inc. | 12-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (74637)<br>|
| USD | 1091644 | JPY | 160000000 | Morgan Stanley, Inc. | 12-30-2025 | &nbsp;&nbsp;&nbsp; 64377 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1464484 | AUD | 2192000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 28031 | &nbsp;&nbsp;&nbsp; 0 |
| AUD | 392000 | USD | 260705 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (3822)<br>|
| USD | 391079 | AUD | 600000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (2110)<br>|
| USD | 2059073 | BRL | 11175000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (21253)<br>|
| USD | 420729 | BRL | 2300000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (7436)<br>|
| USD | 811329 | BRL | 4400000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (7770)<br>|
| USD | 632982 | CZK | 13170000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 167481 | CZK | 3500000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (613)<br>|
| USD | 10931703 | EUR | 9200000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 239304 | &nbsp;&nbsp;&nbsp; 0 |
| EUR | 100000 | USD | 119220 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (2998)<br>|
| USD | 1286145 | EUR | 1100000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 7706 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 396271 | EUR | 340000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 1117 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 349682 | EUR | 300000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 1017 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 711952 | EUR | 610000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 809586 | EUR | 700000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (3966)<br>|
| USD | 809088 | EUR | 700000 | Goldman Sachs International | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (4464)<br>|
| USD | 2992852 | GBP | 2192000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 91273 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 939369 | GBP | 700000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 12770 | &nbsp;&nbsp;&nbsp; 0 |

---

See accompanying notes to portfolio of investments

20 \| Allspring Core Plus ETF

------

Portfolio of investments—November 30, 2025 (unaudited)

**Forward foreign currency contracts** (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be<br> received | Currency to be<br> received | &nbsp;&nbsp;&nbsp; Currency to be<br> delivered | &nbsp;&nbsp;&nbsp; Currency to be<br> delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date<br>| &nbsp;&nbsp; Unrealized<br> gains<br>| &nbsp;&nbsp; Unrealized<br> losses<br>|
| USD | 799277 | GBP | 600000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; $5049 | &nbsp;&nbsp;&nbsp; $0 |
| USD | 587297 | GBP | 440000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 4863 | &nbsp;&nbsp;&nbsp; 0 |
| GBP | 950000 | USD | 1245034 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 12493 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 815083 | SGD | 1057000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (2409)<br>|
| USD | 542637 | ZAR | 9500000 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (11344)<br>|
| ZAR | 9500000 | USD | 549094 | Morgan Stanley, Inc. | 12-31-2025 | &nbsp;&nbsp;&nbsp; 4887 | &nbsp;&nbsp;&nbsp; 0 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$476358** | &nbsp;&nbsp;&nbsp; **$(214438)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp; Notional <br>cost<br>| &nbsp;&nbsp; Notional <br>value<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| &nbsp;&nbsp; 10-Year U.S. Treasury Notes | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; $6770258 | &nbsp;&nbsp; $6800625 | &nbsp;&nbsp; $30367 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp; Ultra U.S. Treasury Bond | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 2995553 | &nbsp;&nbsp; 3023438 | &nbsp;&nbsp; 27885 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 3-31-2026 | &nbsp;&nbsp; 33402755 | &nbsp;&nbsp; 33417500 | &nbsp;&nbsp; 14745 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 5-Year U.S. Treasury Notes | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 3-31-2026 | &nbsp;&nbsp; 8876754 | &nbsp;&nbsp; 8891016 | &nbsp;&nbsp; 14262 | &nbsp;&nbsp; 0 |
| **Short** |  |  |  |  |  |  |
| &nbsp;&nbsp; 10-Year Euro BUND Index | &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp; 12-8-2025 | &nbsp;&nbsp; (1634904)<br>| &nbsp;&nbsp; (1645005)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (10101)<br>|
| &nbsp;&nbsp; 2-Year Euro SCHATZ | &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; 12-8-2025 | &nbsp;&nbsp; (497041)<br>| &nbsp;&nbsp; (496514)<br>| &nbsp;&nbsp; 527 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 5-Year Euro-BOBL Futures | &nbsp;&nbsp; (36)<br>| &nbsp;&nbsp; 12-8-2025 | &nbsp;&nbsp; (4927437)<br>| &nbsp;&nbsp; (4927078)<br>| &nbsp;&nbsp; 359 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (25)<br>| &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; (2897626)<br>| &nbsp;&nbsp; (2905078)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (7452)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$88145** | &nbsp;&nbsp; **$(17553)**<br>|

---

**Centrally cleared credit default swap contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference index | Fixed rate | &nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp; Maturity <br>date<br>| Notional <br>amount | Notional <br>amount | Value | Premiums <br>paid <br>(received)<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Buy Protection** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Markit CDX North American High Yield <br> Series 44 <br>| 5.00% | Quarterly | 6-20-2030 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1540000 | &nbsp;&nbsp; $135032 | &nbsp;&nbsp; $104413 | &nbsp;&nbsp; $30619 | &nbsp;&nbsp; $0 |

---

See accompanying notes to portfolio of investments

Allspring Core Plus ETF \| 21

------

Notes to portfolio of investments—November 30, 2025 (unaudited)

Notes to portfolio of investments

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Equity securities, exchange-traded funds and futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

Forward foreign currency contracts are recorded at the forward rate provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management.

Futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

Swap contracts are valued at the evaluated price provided by an independent pricing service or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

When-issued transactions

The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market.

22 \| Allspring Core Plus ETF

------

Notes to portfolio of investments—November 30, 2025 (unaudited)

Forward foreign currency contracts

A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund enters into forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked-to-market daily. When the contracts are closed, realized gains and losses arising from such transactions are recorded as realized gains or losses on forward foreign currency contracts. The Fund is subject to foreign currency risk and may be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. The Fund's maximum risk of loss from counterparty credit risk is the unrealized gains on the contracts. This risk may be mitigated if there is a master netting arrangement between the Fund and the counterparty.

Futures contracts

Futures contracts are agreements between the Fund and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates and is subject to interest rate risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Fund since futures contracts are exchange-traded and the exchange's clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.

Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Fund fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Fund's payment obligations. When the contracts are closed, a realized gain or loss is recorded.

Swap contracts

Swap contracts are agreements between the Fund and a counterparty to exchange a series of cash flows over a specified period. Swap agreements are privately negotiated contracts between the Fund that are entered into as bilateral contracts in the over-the-counter market or centrally cleared ("centrally cleared swaps") with a central clearinghouse.

The Fund entered into centrally cleared swaps. In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and the Fund's counterparty on the swap agreement becomes the CCP. Upon entering into a centrally cleared swap, the Fund is required to deposit an initial margin with the broker in the form of cash or securities. Securities deposited as initial margin are designated in the Portfolio of investments. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). The variation margin is recorded as an unrealized gain (or loss) on centrally cleared swaps. Payments received from (paid to) the counterparty are recorded as realized gains (losses) when the contract is closed.

***Credit default swaps*** <br>The Fund may enter into credit default swaps for hedging or speculative purposes to provide or receive a measure of protection against default on a referenced entity, obligation or index or a basket of single-name issuers or traded indexes. An index credit default swap references all the names in the index, and if a credit event is triggered, the credit event is settled based on that name's weight in the index. Credit default swaps are agreements in which the protection buyer pays fixed periodic payments to the protection seller in consideration for a promise from the protection seller to make a specific payment should a negative credit event take place with respect to the referenced entity (e.g., bankruptcy, failure to pay, obligation acceleration, repudiation, moratorium or restructuring).

The Fund may enter into credit default swaps as either the seller of protection or the buyer of protection. If the Fund is the buyer of protection and a credit event occurs, the Fund will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising the index, or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. If the Fund is the seller of protection and a credit event occurs, the Fund will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising the index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index.

As the seller of protection, the Fund is subject to investment exposure on the notional amount of the swap and has assumed the risk of default of the underlying security or index. As the buyer of protection, the Fund could be exposed to risks if the seller of the protection defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates.

Allspring Core Plus ETF \| 23

------

Notes to portfolio of investments—November 30, 2025 (unaudited)

By entering into credit default swap contracts, the Fund is exposed to credit risk. In addition, certain credit default swap contracts entered into by the Fund provide for conditions that result in events of default or termination that enable the counterparty to the agreement to cause an early termination of the transactions under those agreements.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Fair valuation measurements

Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund's investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund's investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.

24 \| Allspring Core Plus ETF

------

Notes to portfolio of investments—November 30, 2025 (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $104517454 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $104517454 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 31913386 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 31913386 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 72934189 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 72934189 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 10014192 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 10014192 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 17292271 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 17292271 |
| **Investment companies** | &nbsp;&nbsp; 2042616 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2042616 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 638373 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 638373 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 20684412 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 20684412 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 45768794 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 45768794 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 27923364 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 27923364 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 3837618 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 3837618 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 6009948 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6009948 |
| *U.S. Treasury securities* | &nbsp;&nbsp; 9981543 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 9981543 |
|  | &nbsp;&nbsp; 63802901 | &nbsp;&nbsp;&nbsp;&nbsp; 289755259 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 353558160 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 476358 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 476358 |
| **Futures contracts** | &nbsp;&nbsp; 88145 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 88145 |
| **Swap contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 30619 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 30619 |
| **Total assets** | &nbsp;&nbsp; **$63891046** | &nbsp;&nbsp;&nbsp; **$290262236** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$354153282** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $214438 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $214438 |
| **Futures contracts** | &nbsp;&nbsp; 17553 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 17553 |
| **Total liabilities** | &nbsp;&nbsp; **$17553** | &nbsp;&nbsp;&nbsp; **$214438** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$231991** |

---

Futures contracts, forward foreign currency contracts and swap contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Portfolio of investments. All other assets and liabilities are reported at their market value at measurement date.

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

As of November 30, 2025, $1,140,000 was segregated as cash collateral for these open futures contracts and $106,541 was segregated as cash collateral for swap contracts. The Fund also had $440,000 segregated as cash collateral for open forward foreign currency contracts.

At November 30, 2025, the Fund did not have any transfers into/out of Level 3.

Allspring Core Plus ETF \| 25

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST

- **b. Investment Company Act file number:** 811-23597

- **c. CIK number of Registrant:** 0001611331

- **d. LEI of Registrant:** 2549008U45GDNN6MG464

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

  - **Street Address 1:** 1415 VANTAGE PARK DRIVE

  - **City:** CHARLOTTE

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

  - **Telephone number:** 833-568-4255

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

- **a. Name of Series:** Allspring Core Plus ETF

- **b. EDGAR series identifier (if any):** S000088477

- **c. LEI of Series:** 254900E0UV21WLT5DF41

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

- **a. Date of fiscal year-end:** 2026-08-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $360770151.71

**Total Liabilities:** $20206206.61

**Net Assets:** $340563945.10

**Delayed Delivery Securities:** $2874661.65

**Cash Not Reported:** $605963.72

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -231.86000000 | **1-Year:** -6341.13000000 | **5-Year:** -24159.09000000 | **10-Year:** -26722.54000000 | **30-Year:** -16980.06000000

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

- **3-Month:** -97.28000000 | **1-Year:** -2971.35000000 | **5-Year:** -6695.55000000 | **10-Year:** -1688.73000000 | **30-Year:** -273.94000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254754 | 1.11%                | 0.57%                | 0.58%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $413272.03               | $1074720.40                                |
| Month 2  | $261234.31               | $-457578.91                                |
| Month 3  | $-130235.92              | $804040.37                                 |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Aggregate Index

- **Index Identifier:** agg_returns

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| A&D Mortgage Trust                                | A&D Mortgage Trust 2024-NQM5                                                                                           | CUSIP: 00039KAC4<br>LEI: 9845006Z1DC68561N347 | Long             | ABS-MBS          | CORP              | US        |     831306 | PA      | $835660.70    | 0.25%             | 2069-11-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                      | AES Corp/The                                                                                                           | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |      45000 | PA      | $45905.31     | 0.01%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                                     | AIB Group PLC                                                                                                          | CUSIP: 00135TAF1<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |     510000 | PA      | $527302.40    | 0.15%             | 2031-05-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                          | AT&T Inc                                                                                                               | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     530000 | PA      | $363211.96    | 0.11%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                          | AT&T Inc                                                                                                               | CUSIP: 00206RNE8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     495000 | PA      | $485878.11    | 0.14%             | 2054-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                | ADMT 2024-NQM6                                                                                                         | CUSIP: 00249YAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     898051 | PA      | $904792.25    | 0.27%             | 2070-01-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                | A&D Mortgage Trust 2025-NQM3                                                                                           | CUSIP: 00250FAC7<br>LEI: 984500D4480E0AE81M71 | Long             | ABS-MBS          | CORP              | US        |     389684 | PA      | $390800.60    | 0.11%             | 2070-08-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                        | AbbVie Inc                                                                                                             | CUSIP: 00287YEB1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     265000 | PA      | $271873.46    | 0.08%             | 2055-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                          | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                                              | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     160000 | PA      | $167794.66    | 0.05%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AFRICAN EXPORT-IMPORT BA                          | African Export-Import Bank/The                                                                                         | CUSIP: 00831TAC5<br>LEI: 21380068LJCDYA42GJ76 | Long             | DBT              | NUSS              | XX        |     590000 | PA      | $529586.63    | 0.16%             | 2031-05-17      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-1C PTT                            | Air Canada 2020-1 Class C Pass Through Trust                                                                           | CUSIP: 008911BD0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     210000 | PA      | $216835.84    | 0.06%             | 2026-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                     | Aircastle Ltd                                                                                                          | CUSIP: 00928QAY7<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |     230000 | PA      | $240068.15    | 0.07%             | 2029-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                           | Aircastle Ltd / Aircastle Ireland DAC                                                                                  | CUSIP: 00929JAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     505000 | PA      | $516769.74    | 0.15%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                       | Aker BP ASA                                                                                                            | CUSIP: 00973RAP8<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |     270000 | PA      | $249965.41    | 0.07%             | 2054-10-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                          | Ajax Mortgage Loan Trust 2021-E                                                                                        | CUSIP: 009740AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1057317 | PA      | $938854.10    | 0.28%             | 2060-12-25      | Variable      | 1.74%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                          | Alexandria Real Estate Equities Inc                                                                                    | CUSIP: 015271BB4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |     280000 | PA      | $247526.32    | 0.07%             | 2053-04-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LLC                   | Aligned Data Centers Issuer LLC                                                                                        | CUSIP: 01627AAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     160000 | PA      | $156534.11    | 0.05%             | 2046-08-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                        | Allianz SE                                                                                                             | CUSIP: 018820AC4<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |     645000 | PA      | $694054.19    | 0.20%             | 2053-09-06      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                         | Uniform Mortgage-Backed Security, TBA                                                                                  | CUSIP: 01F0206C8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4070000 | PA      | $3310799.05   | 0.97%             | 2053-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                         | Uniform Mortgage-Backed Security, TBA                                                                                  | CUSIP: 01F0326C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1400000 | PA      | $1294784.05   | 0.38%             | 2055-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                         | Uniform Mortgage-Backed Security, TBA                                                                                  | CUSIP: 01F0406C6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1595000 | PA      | $1518975.43   | 0.45%             | 2055-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT                             | American Airlines 2015-1 Class A Pass Through Trust                                                                    | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     386380 | PA      | $380682.56    | 0.11%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                               | American Express Co                                                                                                    | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     180000 | PA      | $184395.07    | 0.05%             | 2033-07-20      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                               | American Express Co                                                                                                    | CUSIP: 025816EM7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     970000 | PA      | $965137.32    | 0.28%             | 2036-10-24      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                          | Angel Oak Mortgage Trust 2025-HB2                                                                                      | CUSIP: 034648AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1700000 | PA      | $1699652.16   | 0.50%             | 2055-12-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                          | Angel Oak Mortgage Trust 2025-1                                                                                        | CUSIP: 034934AA7<br>LEI: 254900HC0S1X9R2JZB30 | Long             | ABS-MBS          | CORP              | US        |     868247 | PA      | $875621.77    | 0.26%             | 2070-01-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| APA CORP                                          | APA Corp                                                                                                               | CUSIP: 03743QBC1<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |     133000 | PA      | $111582.45    | 0.03%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| APTARGROUP INC                                    | AptarGroup Inc                                                                                                         | CUSIP: 038336AB9<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | DBT              | CORP              | US        |     420000 | PA      | $423954.88    | 0.12%             | 2031-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                 | Ares Capital Corp                                                                                                      | CUSIP: 04010LBF9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     145000 | PA      | $148986.18    | 0.04%             | 2029-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                 | Ares Capital Corp                                                                                                      | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     330000 | PA      | $332976.95    | 0.10%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                 | Ares Capital Corp                                                                                                      | CUSIP: 04010LBL6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     475000 | PA      | $469500.23    | 0.14%             | 2031-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                      | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     272000 | PA      | $224672.00    | 0.07%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                      | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     180000 | PA      | $127413.00    | 0.04%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| ARES FINANCE CO II LLC                            | Ares Finance Co II LLC                                                                                                 | CUSIP: 04015KAB6<br>LEI: 54930012GWL4VKKENG46 | Long             | DBT              | CORP              | US        |     435000 | PA      | $412677.68    | 0.12%             | 2030-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                          | Ares Strategic Income Fund                                                                                             | CUSIP: 04020EAG2<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     345000 | PA      | $349481.43    | 0.10%             | 2028-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD                          | Aspen Insurance Holdings Ltd                                                                                           | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |     360000 | PA      | $376921.76    | 0.11%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                       | Asurion LLC 2021 2nd Lien Term Loan B3                                                                                 | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     235000 | PA      | $224573.05    | 0.07%             | 2028-01-31      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                             | Athene Global Funding                                                                                                  | CUSIP: 04685A4R9<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |     440000 | PA      | $445256.87    | 0.13%             | 2030-07-17      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                             | Athene Global Funding                                                                                                  | CUSIP: 04685A4S7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |     540000 | PA      | $543458.26    | 0.16%             | 2035-08-22      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Avant Loans Funding Trust                         | Avant Loans Funding Trust 2024-REV1                                                                                    | CUSIP: 05352UAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1000000 | PA      | $1013649.00   | 0.30%             | 2033-10-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                          | Avolon Holdings Funding Ltd                                                                                            | CUSIP: 05401AAP6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     210000 | PA      | $202741.98    | 0.06%             | 2028-02-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                          | Avolon Holdings Funding Ltd                                                                                            | CUSIP: 05401AAU5<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     225000 | PA      | $233149.20    | 0.07%             | 2029-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                          | Avolon Holdings Funding Ltd                                                                                            | CUSIP: 05401AAW1<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     255000 | PA      | $258007.49    | 0.08%             | 2028-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                    | BAHA Trust 2024-MAR                                                                                                    | CUSIP: 05493XAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $1045750.00   | 0.31%             | 2041-12-10      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                                                                       | CUSIP: 05526DBK0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     235000 | PA      | $201905.73    | 0.06%             | 2049-09-06      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                                                                       | CUSIP: 05526DCC7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     620000 | PA      | $650071.61    | 0.19%             | 2035-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                                                                       | CUSIP: 05526DCD5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     380000 | PA      | $399052.92    | 0.12%             | 2055-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                       | BNP Paribas SA                                                                                                         | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     215000 | PA      | $226630.64    | 0.07%             | 2029-08-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                            | BP Capital Markets PLC                                                                                                 | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     755000 | PA      | $752585.28    | 0.22%             | 2030-03-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                            | BP Capital Markets PLC                                                                                                 | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     245000 | PA      | $260413.20    | 0.08%             | 2033-12-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Brex Inc                                          | Brex Commercial Charge Card Master Trust                                                                               | CUSIP: 05601DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     625000 | PA      | $627540.69    | 0.18%             | 2027-07-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                                | BX Trust 2019-OC11                                                                                                     | CUSIP: 05606FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1300000 | PA      | $1236720.29   | 0.36%             | 2041-12-09      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2025-VOLT                                                                                                     | CUSIP: 05619PAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     840000 | PA      | $841050.00    | 0.25%             | 2044-12-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                          | Baltimore Gas and Electric Co                                                                                          | CUSIP: 059165ET3<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |     340000 | PA      | $355529.42    | 0.10%             | 2035-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER MEXICO                            | Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand                                       | CUSIP: 05969BAC7<br>LEI: SCRYQ25DTVRHYYMM6P89 | Long             | DBT              | CORP              | MX        |     250000 | PA      | $267153.50    | 0.08%             | 2028-10-01      | Fixed         | 7.53%                 | No            |                  2 | On Loan: No      |
| BANCO NACIONAL COM EXT                            | Banco Nacional de Comercio Exterior SNC/Cayman Islands                                                                 | CUSIP: 05973JAA8<br>LEI: 4469000001BL6VG3DH44 | Long             | DBT              | CORP              | MX        |     245000 | PA      | $238391.62    | 0.07%             | 2031-08-11      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                          | Banco Mercantil del Norte SA/Grand Cayman                                                                              | CUSIP: 05973KAA5<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |     420000 | PA      | $414660.71    | 0.12%             | 2027-01-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                   | CUSIP: 06051GGF0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     250000 | PA      | $249186.06    | 0.07%             | 2028-01-20      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                   | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     390000 | PA      | $343292.93    | 0.10%             | 2036-09-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                   | CUSIP: 06051GMB2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     295000 | PA      | $304039.30    | 0.09%             | 2035-08-15      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                   | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     750000 | PA      | $774871.97    | 0.23%             | 2035-10-25      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                   | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     215000 | PA      | $222964.46    | 0.07%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Bank                                              | Bank 2019-BNK19                                                                                                        | CUSIP: 06540WBD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     135000 | PA      | $128020.16    | 0.04%             | 2061-08-15      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                            | Banque Federative du Credit Mutuel SA                                                                                  | CUSIP: 06675DCM2<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |     650000 | PA      | $664379.72    | 0.20%             | 2028-02-16      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D                          | Banque Ouest Africaine de Developpement                                                                                | CUSIP: 06675QAB9<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |     345000 | PA      | $342502.64    | 0.10%             | 2027-07-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D                          | Banque Ouest Africaine de Developpement                                                                                | CUSIP: 06675QAC7<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |     255000 | PA      | $234481.20    | 0.07%             | 2031-10-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                                                           | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     665000 | PA      | $688993.63    | 0.20%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                                                           | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     360000 | PA      | $380027.13    | 0.11%             | 2036-02-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                        | Barings Equipment Finance LLC 2025-A                                                                                   | CUSIP: 06764MAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     844470 | PA      | $849106.80    | 0.25%             | 2028-10-13      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| BASIN ELECTRIC PWR COOP                           | Basin Electric Power Cooperative                                                                                       | CUSIP: 070101AJ9<br>LEI: 5493002CLOJ5KYT5GB16 | Long             | DBT              | CORP              | US        |     225000 | PA      | $225267.57    | 0.07%             | 2055-10-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                          | Baxter International Inc                                                                                               | CUSIP: 071813DE6<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |     335000 | PA      | $341392.44    | 0.10%             | 2035-12-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                   | Bermuda Government International Bond                                                                                  | CUSIP: 085209AH7<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |     340000 | PA      | $239356.60    | 0.07%             | 2050-08-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BHMS Mortgage Trust                               | BHMS Commercial Mortgage Trust 2025-ATLS                                                                               | CUSIP: 088928AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     210000 | PA      | $210131.96    | 0.06%             | 2042-08-15      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                       | BNP Paribas SA                                                                                                         | CUSIP: 09659T2D2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     640000 | PA      | $669419.07    | 0.20%             | 2035-11-19      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                         | Boeing Co/The                                                                                                          | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     270000 | PA      | $268880.15    | 0.08%             | 2050-05-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                          | Brandywine Operating Partnership LP                                                                                    | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |     138000 | PA      | $149465.04    | 0.04%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                                                         | CUSIP: 10554TAG0<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     420000 | PA      | $153300.00    | 0.05%             | 2033-02-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD ASSET MANAGEM                          | Brookfield Asset Management Ltd                                                                                        | CUSIP: 112586AB8<br>LEI: 549300CZ84WPNJZKY093 | Long             | DBT              | CORP              | CA        |     240000 | PA      | $247406.59    | 0.07%             | 2055-09-15      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD FINANCE INC                            | Brookfield Finance Inc                                                                                                 | CUSIP: 11271LAQ5<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |     470000 | PA      | $473529.13    | 0.14%             | 2036-01-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                             | Brooklyn Union Gas Co/The                                                                                              | CUSIP: 114259AX2<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |     370000 | PA      | $401843.32    | 0.12%             | 2033-09-15      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| CITY OF BUENOS AIRES                              | Ciudad Autonoma De Buenos Aires/Government Bonds                                                                       | CUSIP: 11943HAD1<br>LEI: 5299007MC8RF52X0ON96 | Long             | DBT              | NUSS              | AR        |     300000 | PA      | $301140.00    | 0.09%             | 2033-11-26      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                                                           | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     785000 | PA      | $665152.40    | 0.20%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2018-RPL9 Trust                                                                                                   | CUSIP: 12654PAE8<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     770501 | PA      | $747723.02    | 0.22%             | 2057-09-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                                | Coterra Energy Inc                                                                                                     | CUSIP: 127097AM5<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |     290000 | PA      | $295831.01    | 0.09%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                                | Coterra Energy Inc                                                                                                     | CUSIP: 127097AN3<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |     185000 | PA      | $180191.33    | 0.05%             | 2055-02-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CAJUN GLOBAL LLC                                  | Cajun Global LLC                                                                                                       | CUSIP: 12803VAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1515000 | PA      | $1507399.25   | 0.44%             | 2055-11-20      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                          | Camelot Return Merger Sub Inc                                                                                          | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     250000 | PA      | $209062.53    | 0.06%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                                                          | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     890000 | PA      | $916779.21    | 0.27%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                          | Celanese US Holdings LLC                                                                                               | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     375000 | PA      | $374406.34    | 0.11%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                           | Centersquare Issuer LLC                                                                                                | CUSIP: 15201EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1000000 | PA      | $985632.10    | 0.29%             | 2054-10-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                               | Century Communities Inc                                                                                                | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     735000 | PA      | $745325.28    | 0.22%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                        | CUSIP: 161175BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     815000 | PA      | $732230.40    | 0.22%             | 2031-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                        | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     285000 | PA      | $174352.41    | 0.05%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                        | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     220000 | PA      | $144428.88    | 0.04%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                        | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     485000 | PA      | $505722.86    | 0.15%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CIMIC FINANCE USA PTY LT                          | CIMIC Finance USA Pty Ltd                                                                                              | CUSIP: 171873AB8<br>LEI: 213800GNWSV32LXHCZ50 | Long             | DBT              | CORP              | AU        |     170000 | PA      | $186374.35    | 0.05%             | 2034-03-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CINCINNATI FINL CORP                              | Cincinnati Financial Corp                                                                                              | CUSIP: 172062AE1<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | DBT              | CORP              | US        |     250000 | PA      | $270031.02    | 0.08%             | 2034-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CITADEL FINANCE LLC                               | Citadel Finance LLC                                                                                                    | CUSIP: 17287HAD2<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |     500000 | PA      | $508364.91    | 0.15%             | 2030-02-10      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                                                          | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     470000 | PA      | $479639.66    | 0.14%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                          | Clear Channel Outdoor Holdings Inc                                                                                     | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     170000 | PA      | $178681.22    | 0.05%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                                                                   | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     160000 | PA      | $151815.17    | 0.04%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ClickLease Equipment Receivables 2024-1 Trust     | ClickLease Equipment Receivables 2024-1 Trust                                                                          | CUSIP: 18682FAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     937771 | PA      | $948589.13    | 0.28%             | 2030-02-15      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                                                               | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     385000 | PA      | $405558.23    | 0.12%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                                   | Cogent Ipv4 LLC                                                                                                        | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1515000 | PA      | $1579600.66   | 0.46%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| COLOMBIA TELECOMUNICACIO                          | Colombia Telecomunicaciones SA ESP                                                                                     | CUSIP: 19533PAC4<br>LEI: 549300CK4YN0V1C3MN55 | Long             | DBT              | CORP              | CO        |     315000 | PA      | $287122.50    | 0.08%             | 2030-07-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                      | Comcast Corp                                                                                                           | CUSIP: 20030NDU2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     315000 | PA      | $182828.49    | 0.05%             | 2056-11-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                      | Comcast Corp                                                                                                           | CUSIP: 20030NEG2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     345000 | PA      | $318219.79    | 0.09%             | 2064-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                      | Comcast Corp                                                                                                           | CUSIP: 20030NEQ0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     340000 | PA      | $344152.72    | 0.10%             | 2055-05-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                                                                       | CUSIP: 200447AH3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     540000 | PA      | $486549.34    | 0.14%             | 2031-02-09      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                                                                       | CUSIP: 200447AK6<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     460000 | PA      | $405467.14    | 0.12%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                            | Commonwealth Bank of Australia                                                                                         | CUSIP: 202712BX2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |     720000 | PA      | $747332.22    | 0.22%             | 2046-03-14      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                            | ConocoPhillips Co                                                                                                      | CUSIP: 20826FBM7<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |     645000 | PA      | $630505.36    | 0.19%             | 2055-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                            | ConocoPhillips Co                                                                                                      | CUSIP: 20826FBN5<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |     180000 | PA      | $177415.15    | 0.05%             | 2065-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae                                                                                                             | CUSIP: 21H0506C1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2265000 | PA      | $2262276.34   | 0.66%             | 2055-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae                                                                                                             | CUSIP: 21H0526C7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2240000 | PA      | $2262125.94   | 0.66%             | 2055-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                                                              | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     400000 | PA      | $418973.53    | 0.12%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| COTY/HFC PRESTIGE/INT US                          | Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC                                                   | CUSIP: 22207AAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     310000 | PA      | $311952.38    | 0.09%             | 2031-01-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                | Credit Agricole SA                                                                                                     | CUSIP: 22535WAR8<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |     395000 | PA      | $407293.23    | 0.12%             | 2031-05-27      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                | Credit Agricole SA                                                                                                     | CUSIP: 22535WAS6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |     435000 | PA      | $435984.20    | 0.13%             | 2033-09-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                           | CUSIP: 225401AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     485000 | PA      | $452109.23    | 0.13%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| DI Issuer LLC                                     | DI Issuer LLC                                                                                                          | CUSIP: 23292FAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     260000 | PA      | $261410.06    | 0.08%             | 2054-09-15      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                            | Daimler Truck Finance North America LLC                                                                                | CUSIP: 233853BH2<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |     375000 | PA      | $378154.01    | 0.11%             | 2030-10-12      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                   | Danske Bank A/S                                                                                                        | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |     835000 | PA      | $835874.70    | 0.25%             | 2028-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                   | Danske Bank A/S                                                                                                        | CUSIP: 23636ABH3<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |     465000 | PA      | $484770.33    | 0.14%             | 2030-03-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES 2020-AA                           | Delta Air Lines 2020-1 Class AA Pass Through Trust                                                                     | CUSIP: 247361ZV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      49072 | PA      | $47117.97     | 0.01%             | 2028-06-10      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                                                                  | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     295000 | PA      | $281031.75    | 0.08%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy Inc                                                                                                    | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     230000 | PA      | $238030.45    | 0.07%             | 2055-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED JPY / SOLD USD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | JP        |          1 | NC      | $-74636.68    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD COP                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-61290.11    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $239303.60    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD AUD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $28030.93     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED EUR / SOLD USD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | XX        |          1 | NC      | $-2997.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD GBP                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $91273.43     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD ZAR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-11343.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD JPY                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $64376.82     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED AUD / SOLD USD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | AU        |          1 | NC      | $-3821.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD BRL                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-21253.21    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD CZK                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $470.97       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED ZAR / SOLD USD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | ZA        |          1 | NC      | $4887.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD GBP                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $12770.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $7706.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD BRL                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-7436.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $1117.46      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD GBP                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $5049.20      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $1017.20      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $2999.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD CZK                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-612.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD AUD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-2110.30     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD GBP                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $4863.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD COP                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-10326.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD BRL                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-7770.19     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD SGD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-2409.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $-3966.44     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED GBP / SOLD USD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | GB        |          1 | NC      | $12493.13     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of New York Mellon                           | PURCHASED EUR / SOLD USD                                                                                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              |  | XX        |          1 | NC      | $0.03         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-4464.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC                           | Duke Energy Indiana LLC                                                                                                | CUSIP: 26443TAD8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     305000 | PA      | $296720.37    | 0.09%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                           | Duke Energy Florida LLC                                                                                                | CUSIP: 26444HAU5<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |     220000 | PA      | $221156.27    | 0.06%             | 2035-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                | EFMT 2025-NQM3                                                                                                         | CUSIP: 26846YAC2<br>LEI: 2549007I2BIJP4S0O647 | Long             | ABS-MBS          | CORP              | US        |     789849 | PA      | $794397.81    | 0.23%             | 2070-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| ENI SPA                                           | Eni SpA                                                                                                                | CUSIP: 26874RAP3<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |     625000 | PA      | $628164.72    | 0.18%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EPR PROPERTIES                                    | EPR Properties                                                                                                         | CUSIP: 26884UAG4<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |     235000 | PA      | $218371.74    | 0.06%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| EMERA INC                                         | Emera Inc                                                                                                              | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |      75000 | PA      | $75548.78     | 0.02%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge Inc                                                                                                           | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     245000 | PA      | $247605.82    | 0.07%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge Inc                                                                                                           | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      50000 | PA      | $54552.50     | 0.02%             | 2083-01-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                                                                     | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     160000 | PA      | $170604.80    | 0.05%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                                                                     | CUSIP: 29273VBF6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     245000 | PA      | $244553.03    | 0.07%             | 2055-04-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                      | Entegris Inc                                                                                                           | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     390000 | PA      | $389237.55    | 0.11%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENTERGY MISSISSIPPI LLC                           | Entergy Mississippi LLC                                                                                                | CUSIP: 29366WAG1<br>LEI: 54930043I78H35DVVW89 | Long             | DBT              | CORP              | US        |     240000 | PA      | $246894.18    | 0.07%             | 2055-04-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                          | Enterprise Products Operating LLC                                                                                      | CUSIP: 29379VCH4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     495000 | PA      | $490116.34    | 0.14%             | 2055-02-16      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| EQUINIX EU 2 FINANCING C                          | Equinix Europe 2 Financing Corp LLC                                                                                    | CUSIP: 29390XAG9<br>LEI: 254900FSZR46BPMCKI50 | Long             | DBT              |  | US        |     260000 | PA      | $261706.47    | 0.08%             | 2030-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                          | Equitable America Global Funding                                                                                       | CUSIP: 29446Q2B8<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |     610000 | PA      | $622542.64    | 0.18%             | 2030-06-09      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL PROPER                                  | Essential Properties LP                                                                                                | CUSIP: 29670VAA7<br>LEI: 254900XX9FNFCDE1NX02 | Long             | DBT              |  | US        |     500000 | PA      | $456912.22    | 0.13%             | 2031-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                 | EUSHI Finance Inc                                                                                                      | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     290000 | PA      | $305442.26    | 0.09%             | 2054-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| EVERGY INC                                        | Evergy Inc                                                                                                             | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |     225000 | PA      | $229214.25    | 0.07%             | 2055-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                       | FIGRE Trust 2025-HE1                                                                                                   | CUSIP: 30191LAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     823719 | PA      | $834003.92    | 0.24%             | 2055-01-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                | Meta Platforms Inc                                                                                                     | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     765000 | PA      | $773291.20    | 0.23%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                | Meta Platforms Inc                                                                                                     | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     620000 | PA      | $618429.32    | 0.18%             | 2055-11-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 3132D6JQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1614628 | PA      | $1633297.40   | 0.48%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 3132DWKB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2650351 | PA      | $2529412.38   | 0.74%             | 2053-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     798213 | PA      | $808618.35    | 0.24%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140L6TF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    6925046 | PA      | $5916521.30   | 1.74%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140M2TG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     864757 | PA      | $706464.96    | 0.21%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140NGBV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2959574 | PA      | $2907574.43   | 0.85%             | 2053-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140QQDH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     243403 | PA      | $233415.30    | 0.07%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140QVPC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1590779 | PA      | $1648349.84   | 0.48%             | 2054-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140W0PY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3176456 | PA      | $2942964.88   | 0.86%             | 2052-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140W1VQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1136734 | PA      | $990547.22    | 0.29%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140W2KH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     807795 | PA      | $830313.98    | 0.24%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140XDRC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1881825 | PA      | $1672146.54   | 0.49%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140XNKL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     415291 | PA      | $384578.50    | 0.11%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140XP6Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7128893 | PA      | $5828257.61   | 1.71%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140XPZJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     450978 | PA      | $384319.42    | 0.11%             | 2052-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 3140XQXZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     216249 | PA      | $221543.20    | 0.07%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418D3G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     872641 | PA      | $714915.96    | 0.21%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FD87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     400858 | PA      | $370920.40    | 0.11%             | 2054-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FE29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     354951 | PA      | $354512.21    | 0.10%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FE37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     671499 | PA      | $680167.34    | 0.20%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FEB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     490006 | PA      | $479798.61    | 0.14%             | 2054-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FF36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1366411 | PA      | $1364171.87   | 0.40%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FF44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1195182 | PA      | $1210549.73   | 0.36%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FHY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4640927 | PA      | $4700602.79   | 1.38%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FKP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2958773 | PA      | $3029616.08   | 0.89%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FLQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1795177 | PA      | $1791957.95   | 0.53%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FLS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2114333 | PA      | $2164957.17   | 0.64%             | 2055-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FMG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2398943 | PA      | $2348966.71   | 0.69%             | 2055-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FPJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     487300 | PA      | $505035.43    | 0.15%             | 2055-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                                                        | CUSIP: 31418FRA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2510295 | PA      | $2570402.53   | 0.75%             | 2055-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 31426PZG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1959037 | PA      | $1984228.26   | 0.58%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 31426TWA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1410420 | PA      | $1460891.58   | 0.43%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 31427MH38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2831681 | PA      | $2826676.42   | 0.83%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 31427MPD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3881515 | PA      | $3455084.23   | 1.01%             | 2053-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 3142J6BT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     973186 | PA      | $985700.35    | 0.29%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 3142J6BV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     471924 | PA      | $489100.08    | 0.14%             | 2055-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                       | CUSIP: 3142J6CA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2524181 | PA      | $2556950.63   | 0.75%             | 2055-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                       | FIGRE Trust 2023-HE3                                                                                                   | CUSIP: 31684CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     813238 | PA      | $834105.39    | 0.24%             | 2053-11-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| Five Guys Funding, LLC                            | Five Guys Holdings Inc                                                                                                 | CUSIP: 33830JAE5<br>LEI: 549300XWT8G8Q3Z3HJ19 | Long             | ABS-O            | CORP              | US        |     198000 | PA      | $204293.53    | 0.06%             | 2054-01-26      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC                            | Flexential Issuer LLC                                                                                                  | CUSIP: 33938MAK5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     650000 | PA      | $648355.11    | 0.19%             | 2060-10-25      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                                                               | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     385000 | PA      | $362724.83    | 0.11%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                                                               | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     390000 | PA      | $391908.25    | 0.12%             | 2026-11-05      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                                                               | CUSIP: 345397H89<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    1080000 | PA      | $1073486.69   | 0.32%             | 2035-10-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                           | FTAI Aviation Investors LLC                                                                                            | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     830000 | PA      | $870503.17    | 0.26%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                             | Foundry JV Holdco LLC                                                                                                  | CUSIP: 350930AJ2<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    1025000 | PA      | $1092752.80   | 0.32%             | 2037-01-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Freedom Financial                                 | FREED ABS Trust 2022-3FP                                                                                               | CUSIP: 35634EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      32951 | PA      | $33124.48     | 0.01%             | 2029-08-20      | Fixed         | 7.36%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                                                                      | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     175000 | PA      | $184406.25    | 0.05%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                                                                      | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      30000 | PA      | $32918.94     | 0.01%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WDR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     403303 | PA      | $350304.61    | 0.10%             | 2051-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WLP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1498457 | PA      | $1301009.94   | 0.38%             | 2051-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WLQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1592718 | PA      | $1438890.00   | 0.42%             | 2051-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WNE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2902494 | PA      | $2520036.55   | 0.74%             | 2051-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WTZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     253725 | PA      | $229065.11    | 0.07%             | 2051-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WXH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     796258 | PA      | $663773.90    | 0.19%             | 2052-02-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179Y5M2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1036608 | PA      | $1058719.50   | 0.31%             | 2054-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 36180AAG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1061962 | PA      | $1084360.92   | 0.32%             | 2054-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5A25<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     124007 | PA      | $121362.25    | 0.04%             | 2054-11-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5C56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    5213934 | PA      | $5213258.29   | 1.53%             | 2054-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5C64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    3745563 | PA      | $3789575.16   | 1.11%             | 2054-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5EV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1080803 | PA      | $1092654.65   | 0.32%             | 2055-01-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5GK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1185868 | PA      | $1087999.00   | 0.32%             | 2055-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5GM5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1111648 | PA      | $1087593.45   | 0.32%             | 2055-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5KU2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1378565 | PA      | $1348734.60   | 0.40%             | 2055-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5VM8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1582942 | PA      | $1451726.23   | 0.43%             | 2055-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5VS5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1798852 | PA      | $1838335.60   | 0.54%             | 2055-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                     | CUSIP: 3618N5XQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2478779 | PA      | $2507561.35   | 0.74%             | 2055-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                            | General Motors Financial Co Inc                                                                                        | CUSIP: 37045XEG7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     300000 | PA      | $315924.03    | 0.09%             | 2030-04-06      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| GILDAN ACTIVEWEAR INC                             | Gildan Activewear Inc                                                                                                  | CUSIP: 375916AG8<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     215000 | PA      | $214898.17    | 0.06%             | 2035-10-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                               | Global Payments Inc                                                                                                    | CUSIP: 37940XAR3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     280000 | PA      | $269033.38    | 0.08%             | 2052-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                               | Global Payments Inc                                                                                                    | CUSIP: 37940XAW2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     645000 | PA      | $646512.47    | 0.19%             | 2030-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                                                            | CUSIP: 38141GD43<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     390000 | PA      | $391452.45    | 0.11%             | 2036-10-21      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                                                            | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     535000 | PA      | $481081.49    | 0.14%             | 2032-07-21      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Gracie Point International Funding                | Gracie Point International Funding 2025-1 LLC                                                                          | CUSIP: 38411WAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     335000 | PA      | $335582.50    | 0.10%             | 2028-08-15      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| GUARDIAN LIFE INSURANCE                           | Guardian Life Insurance Co of America/The                                                                              | CUSIP: 401378AC8<br>LEI: N1YIDVMMKBHFYCCAIX69 | Long             | DBT              | CORP              | US        |     370000 | PA      | $311430.95    | 0.09%             | 2077-01-24      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| HAVN Trust                                        | HAVN Trust 2025-MOB                                                                                                    | CUSIP: 40408XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     320000 | PA      | $320100.00    | 0.09%             | 2035-10-15      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| HCA INC                                           | HCA Inc                                                                                                                | CUSIP: 404121AL9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     365000 | PA      | $367445.73    | 0.11%             | 2054-09-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                 | HSBC Holdings PLC                                                                                                      | CUSIP: 404280EW5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     695000 | PA      | $718608.21    | 0.21%             | 2031-05-13      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                            | Harvest Midstream I LP                                                                                                 | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |      40000 | PA      | $41565.16     | 0.01%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| harvest commercial capital loan trust             | Harvest Commercial Capital Loan Trust 2024-1                                                                           | CUSIP: 417927AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1113880 | PA      | $1148254.40   | 0.34%             | 2056-10-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                                        | Hasbro Inc                                                                                                             | CUSIP: 418056BA4<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |     441000 | PA      | $467693.79    | 0.14%             | 2034-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                       | Hertz Vehicle Financing III LLC                                                                                        | CUSIP: 42806MCE7<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |     215000 | PA      | $224643.16    | 0.07%             | 2030-03-25      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                  | Hewlett Packard Enterprise Co                                                                                          | CUSIP: 42824CBW8<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |     380000 | PA      | $355656.23    | 0.10%             | 2054-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Hipgnosis Music Assets LP                         | Hipgnosis Music Assets 2022-1 LP                                                                                       | CUSIP: 43351RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1248509 | PA      | $1246793.85   | 0.37%             | 2062-05-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hotwire Funding LLC                               | Hotwire Funding LLC                                                                                                    | CUSIP: 44148JAA7<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |    1000000 | PA      | $976400.70    | 0.29%             | 2051-11-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                                                                | CUSIP: 44891ABS5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     105000 | PA      | $104668.04    | 0.03%             | 2026-01-08      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                                                                | CUSIP: 44891ACE5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     400000 | PA      | $419875.88    | 0.12%             | 2030-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                                                                | CUSIP: 44891ACG0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     110000 | PA      | $110857.39    | 0.03%             | 2026-06-26      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                                                                | CUSIP: 44891ACX3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     185000 | PA      | $187546.04    | 0.06%             | 2027-03-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                                                                | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     780000 | PA      | $809833.19    | 0.24%             | 2032-06-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                        | Intel Corp                                                                                                             | CUSIP: 458140BJ8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     300000 | PA      | $197434.10    | 0.06%             | 2049-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                        | Intel Corp                                                                                                             | CUSIP: 458140BV1<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |      50000 | PA      | $35474.13     | 0.01%             | 2041-08-12      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| INTACT FINANCIAL CORP                             | Intact Financial Corp                                                                                                  | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |     705000 | PA      | $729797.63    | 0.21%             | 2032-09-22      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT                          | Interstate Power and Light Co                                                                                          | CUSIP: 461070AX2<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |     235000 | PA      | $246300.48    | 0.07%             | 2035-06-29      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| STATE OF ISRAEL                                   | Israel Government International Bond                                                                                   | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |     465000 | PA      | $453565.34    | 0.13%             | 2054-03-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust Series 2025-7MPR                                                                              | CUSIP: 46594CAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1119751 | PA      | $1122458.63   | 0.33%             | 2056-02-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Jack in the Box Funding, LLC                      | Jack in the Box Funding LLC                                                                                            | CUSIP: 466365AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     190500 | PA      | $182919.41    | 0.05%             | 2049-08-25      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PBW5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     230000 | PA      | $228795.58    | 0.07%             | 2027-02-04      | Fixed         | 1.04%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     545000 | PA      | $520040.01    | 0.15%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PDU7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     310000 | PA      | $319649.61    | 0.09%             | 2029-07-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     430000 | PA      | $441498.20    | 0.13%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     915000 | PA      | $957307.77    | 0.28%             | 2036-07-23      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust Series 2025-CES1                                                                              | CUSIP: 46658XAE5<br>LEI: 5299003TKRYXBBT76K08 | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $1014543.30   | 0.30%             | 2055-05-25      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| JAPAN TOBACCO INC                                 | Japan Tobacco Inc                                                                                                      | CUSIP: 471105AE6<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | DBT              | CORP              | JP        |     475000 | PA      | $510083.16    | 0.15%             | 2035-06-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Jersey Mikes Funding LLC                          | Jersey Mike's Funding LLC                                                                                              | CUSIP: 476681AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     992500 | PA      | $1014431.57   | 0.30%             | 2055-02-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                         | Kroger Co/The                                                                                                          | CUSIP: 501044DW8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     325000 | PA      | $316880.12    | 0.09%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                              | Kyndryl Holdings Inc                                                                                                   | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |     165000 | PA      | $161764.79    | 0.05%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                     | LGI Homes Inc                                                                                                          | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     130000 | PA      | $135438.29    | 0.04%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                               | LCM 34 Ltd                                                                                                             | CUSIP: 50203CAQ6<br>LEI: 54930038DJKYPKSVRB29 | Long             | ABS-CBDO         | CORP              | KY        |    1275000 | PA      | $1273884.38   | 0.37%             | 2034-10-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                               | LYB International Finance III LLC                                                                                      | CUSIP: 50249AAM5<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |     170000 | PA      | $169609.01    | 0.05%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                               | LYB International Finance III LLC                                                                                      | CUSIP: 50249AAR4<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |     285000 | PA      | $285998.04    | 0.08%             | 2036-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                          | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                     | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              |  | US        |      99000 | PA      | $104941.09    | 0.03%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                              | Las Vegas Sands Corp                                                                                                   | CUSIP: 517834AL1<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     255000 | PA      | $268705.88    | 0.08%             | 2034-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                              | Las Vegas Sands Corp                                                                                                   | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     245000 | PA      | $250598.10    | 0.07%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                                                                  | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     415000 | PA      | $425059.60    | 0.12%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                    | Eli Lilly & Co                                                                                                         | CUSIP: 532457DG0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |     385000 | PA      | $398443.25    | 0.12%             | 2065-10-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                          | Lloyds Banking Group PLC                                                                                               | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |     215000 | PA      | $216879.75    | 0.06%             | 2026-06-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer, Ltd.                             | LoanCore 2025 2025-CRE8 Issuer LLC                                                                                     | CUSIP: 53947FAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    1000000 | PA      | $991294.70    | 0.29%             | 2042-08-17      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                            | Lumen Technologies Inc 2024 Extended Term Loan B2                                                                      | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |     169136 | PA      | $167994.01    | 0.05%             | 2030-04-15      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust       | MF1 2021-FL7 Ltd                                                                                                       | CUSIP: 55284AAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     100000 | PA      | $97695.74     | 0.03%             | 2036-10-16      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                           | MPLX LP                                                                                                                | CUSIP: 55336VCD0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     285000 | PA      | $288207.77    | 0.08%             | 2055-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                           | Macy's Retail Holdings LLC                                                                                             | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      90000 | PA      | $90217.80     | 0.03%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                           | Macy's Retail Holdings LLC                                                                                             | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      55000 | PA      | $55261.75     | 0.02%             | 2032-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                          | Warnermedia Holdings Inc                                                                                               | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     266000 | PA      | $243057.50    | 0.07%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| MARS INC                                          | Mars Inc                                                                                                               | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     530000 | PA      | $548347.13    | 0.16%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MARS INC                                          | Mars Inc                                                                                                               | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     430000 | PA      | $438317.23    | 0.13%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                        | Mattel Inc                                                                                                             | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     595000 | PA      | $595393.34    | 0.17%             | 2027-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                        | Mattel Inc                                                                                                             | CUSIP: 577081BG6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     230000 | PA      | $232065.19    | 0.07%             | 2030-11-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     295000 | PA      | $265643.59    | 0.08%             | 2032-10-20      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     460000 | PA      | $469817.77    | 0.14%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     195000 | PA      | $199641.64    | 0.06%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YFH3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     460000 | PA      | $488425.59    | 0.14%             | 2029-11-01      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YFS9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     175000 | PA      | $179899.17    | 0.05%             | 2030-07-19      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YFV2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     325000 | PA      | $328808.54    | 0.10%             | 2055-11-19      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                         | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     285000 | PA      | $302552.44    | 0.09%             | 2036-04-17      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                    | Morgan Stanley Capital I Trust 2014-150E                                                                               | CUSIP: 61764BAA1<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |    1320000 | PA      | $1194809.75   | 0.35%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                           | Morgan Stanley Private Bank NA                                                                                         | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |     655000 | PA      | $666233.66    | 0.20%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust    | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM5                                                               | CUSIP: 61779BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     417473 | PA      | $420362.52    | 0.12%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| NMABS Issuer I, LLC.                              | NMABS Issuer I LLC                                                                                                     | CUSIP: 629174AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     840000 | PA      | $843543.27    | 0.25%             | 2055-11-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                  | NMEF Funding 2025-A LLC                                                                                                | CUSIP: 62919VAC5<br>LEI: 549300LKWL3P0UPHKL72 | Long             | ABS-O            | CORP              | US        |     500000 | PA      | $506148.80    | 0.15%             | 2032-07-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                                      | NMI Holdings Inc                                                                                                       | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |     225000 | PA      | $232836.75    | 0.07%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                                                         | CUSIP: 629377DB5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     350000 | PA      | $350444.85    | 0.10%             | 2035-10-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                  | NTT Finance Corp                                                                                                       | CUSIP: 62954WAS4<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |     635000 | PA      | $648726.61    | 0.19%             | 2030-07-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                  | NTT Finance Corp                                                                                                       | CUSIP: 62954WAU9<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |     485000 | PA      | $500132.43    | 0.15%             | 2032-07-16      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                           | National Australia Bank Ltd                                                                                            | CUSIP: 632525BB6<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |     430000 | PA      | $395892.32    | 0.12%             | 2037-01-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                 | NatWest Group PLC                                                                                                      | CUSIP: 639057AN8<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     780000 | PA      | $830468.21    | 0.24%             | 2035-03-01      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                 | NatWest Group PLC                                                                                                      | CUSIP: 639057AV0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    1100000 | PA      | $1132325.23   | 0.33%             | 2031-05-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                               | NatWest Markets PLC                                                                                                    | CUSIP: 63906YAD0<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |     245000 | PA      | $240296.41    | 0.07%             | 2026-09-29      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE INSURANCE                           | New York Life Insurance Co                                                                                             | CUSIP: 64952GAE8<br>LEI: TAE73CY392TBWJ3O3305 | Long             | DBT              | CORP              | US        |     450000 | PA      | $480277.86    | 0.14%             | 2033-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE INSURANCE                           | New York Life Insurance Co                                                                                             | CUSIP: 64952GAT5<br>LEI: TAE73CY392TBWJ3O3305 | Long             | DBT              | CORP              | US        |     200000 | PA      | $150908.95    | 0.04%             | 2050-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                                                                      | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     145000 | PA      | $139341.11    | 0.04%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                         | News Corp                                                                                                              | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     975000 | PA      | $940794.98    | 0.28%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                         | News Corp                                                                                                              | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     190000 | PA      | $188838.42    | 0.06%             | 2032-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| NIAGARA MOHAWK POWER                              | Niagara Mohawk Power Corp                                                                                              | CUSIP: 653522DV1<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |     355000 | PA      | $366081.78    | 0.11%             | 2055-07-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOKIA OYJ                                         | Nokia Oyj                                                                                                              | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |     130000 | PA      | $139610.12    | 0.04%             | 2039-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                          | Northwestern Mutual Life Insurance Co/The                                                                              | CUSIP: 668138AC4<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     675000 | PA      | $473428.35    | 0.14%             | 2059-09-30      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                          | Northwestern Mutual Life Insurance Co/The                                                                              | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     370000 | PA      | $398283.96    | 0.12%             | 2055-05-29      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| OMNIS FUNDING TRUST                               | Omnis Funding Trust                                                                                                    | CUSIP: 68218WAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     580000 | PA      | $612245.80    | 0.18%             | 2055-05-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP                | One New York Plaza Trust 2020-1NYP                                                                                     | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     225000 | PA      | $216349.49    | 0.06%             | 2036-01-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivables Trust             | OneMain Direct Auto Receivables Trust 2025-1                                                                           | CUSIP: 682684AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1000000 | PA      | $1041227.30   | 0.31%             | 2035-04-16      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| 1345 Trust                                        | 1345T 2025-AOA                                                                                                         | CUSIP: 68271CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     750000 | PA      | $751406.25    | 0.22%             | 2042-06-15      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                       | Oracle Corp                                                                                                            | CUSIP: 68389XBY0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     265000 | PA      | $172877.06    | 0.05%             | 2060-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                       | Oracle Corp                                                                                                            | CUSIP: 68389XCU7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     485000 | PA      | $414284.74    | 0.12%             | 2054-09-27      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                       | Oracle Corp                                                                                                            | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     605000 | PA      | $596150.36    | 0.18%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                            | Orbia Advance Corp SAB de CV                                                                                           | CUSIP: 68560EAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |     260000 | PA      | $255606.00    | 0.08%             | 2035-05-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                             | Blue Owl Capital Corp                                                                                                  | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     525000 | PA      | $531601.44    | 0.16%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                         | PG&E Corp                                                                                                              | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     103000 | PA      | $102019.93    | 0.03%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                         | PG&E Corp                                                                                                              | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     598000 | PA      | $618244.69    | 0.18%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                     | PRA Group Inc                                                                                                          | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |     155000 | PA      | $143325.32    | 0.04%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PSEG POWER LLC                                    | PSEG Power LLC                                                                                                         | CUSIP: 69362BBE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     400000 | PA      | $419759.36    | 0.12%             | 2035-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                       | PRKCM 2022-AFC1 Trust                                                                                                  | CUSIP: 69377CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     590408 | PA      | $589836.42    | 0.17%             | 2057-04-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                    | Pagaya AI Debt Grantor Trust 2025-7                                                                                    | CUSIP: 69545RAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1520000 | PA      | $1519423.92   | 0.45%             | 2033-05-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds             | Panama Government International Bonds                                                                                  | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     400000 | PA      | $326440.00    | 0.10%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PARTNERRE FINANCE B LLC                           | PartnerRe Finance B LLC                                                                                                | CUSIP: 70213BAC5<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |     390000 | PA      | $367680.50    | 0.11%             | 2050-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc             | Petco Health and Wellness Company Inc 2021 Term Loan B                                                                 | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |     235000 | PA      | $230854.60    | 0.07%             | 2028-03-03      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                          | PetSmart LLC / PetSmart Finance Corp                                                                                   | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     505000 | PA      | $508867.29    | 0.15%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PFIZER INC                                        | Pfizer Inc                                                                                                             | CUSIP: 717081FF5<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |     400000 | PA      | $404783.12    | 0.12%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                          | Piedmont Operating Partnership LP                                                                                      | CUSIP: 720198AF7<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |     125000 | PA      | $107231.52    | 0.03%             | 2032-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                          | Piedmont Operating Partnership LP                                                                                      | CUSIP: 720198AG5<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |     270000 | PA      | $299036.24    | 0.09%             | 2028-07-20      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                               | Prairie Acquiror LP                                                                                                    | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     260000 | PA      | $268751.34    | 0.08%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE CORP                              | Protective Life Corp                                                                                                   | CUSIP: 743674BF9<br>LEI: 549300ZWIT8J8Y2EXL07 | Long             | DBT              | CORP              | US        |     335000 | PA      | $336377.22    | 0.10%             | 2031-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE CORP                              | Protective Life Corp                                                                                                   | CUSIP: 743674BG7<br>LEI: 549300ZWIT8J8Y2EXL07 | Long             | DBT              | CORP              | US        |     330000 | PA      | $333728.22    | 0.10%             | 2035-12-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                          | Prudential Financial Inc                                                                                               | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |      55000 | PA      | $54526.16     | 0.02%             | 2052-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                       | RCKT Mortgage Trust 2024-CES9                                                                                          | CUSIP: 749426AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     162809 | PA      | $164248.50    | 0.05%             | 2044-12-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                       | RCKT Mortgage Trust 2025-CES1                                                                                          | CUSIP: 749427AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     807596 | PA      | $816006.62    | 0.24%             | 2045-01-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                        | ROCK Trust 2024-CNTR                                                                                                   | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $1031380.90   | 0.30%             | 2041-11-13      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                        | ROCK Trust 2024-CNTR                                                                                                   | CUSIP: 74970WAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     225000 | PA      | $233335.40    | 0.07%             | 2041-11-13      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                          | RenaissanceRe Holdings Ltd                                                                                             | CUSIP: 75968NAE1<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |     240000 | PA      | $252218.54    | 0.07%             | 2033-06-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                          | RenaissanceRe Holdings Ltd                                                                                             | CUSIP: 75968NAG6<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |     220000 | PA      | $231255.83    | 0.07%             | 2035-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                 | Upbound Group Inc                                                                                                      | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |     285000 | PA      | $278295.12    | 0.08%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REYNOLDS AMERICAN INC                             | Reynolds American Inc                                                                                                  | CUSIP: 761713BW5<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |      30000 | PA      | $32049.79     | 0.01%             | 2041-08-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                                                                     | CUSIP: 76209PAF0<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     395000 | PA      | $404326.24    | 0.12%             | 2031-12-06      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                                                                     | CUSIP: 76209PAK9<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     460000 | PA      | $460975.79    | 0.14%             | 2030-11-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                             | RIO TINTO FIN USA PLC                                                                                                  | CUSIP: 76720AAV8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     585000 | PA      | $605680.21    | 0.18%             | 2055-03-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                          | Rogers Communications Inc                                                                                              | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      76000 | PA      | $80450.18     | 0.02%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                                                            | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     675000 | PA      | $694991.32    | 0.20%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                                                            | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     130000 | PA      | $132867.87    | 0.04%             | 2031-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SFAVE Commercial Mortgage Securities Trust        | SFAVE Commercial Mortgage Securities Trust 2015-5AVE                                                                   | CUSIP: 78413MAQ1<br>LEI: 549300FIGODFFTOAAU64 | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $762344.70    | 0.22%             | 2043-01-05      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                   | SEB Funding LLC                                                                                                        | CUSIP: 78433DAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     997500 | PA      | $987441.01    | 0.29%             | 2052-01-30      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SDAL Trust                                        | SDAL Trust 2025-DAL                                                                                                    | CUSIP: 78437RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     760000 | PA      | $765115.18    | 0.22%             | 2042-04-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| SMBC AVIATION CAPITAL FI                          | SMBC Aviation Capital Finance DAC                                                                                      | CUSIP: 78448TAH5<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |     270000 | PA      | $277075.25    | 0.08%             | 2028-05-03      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| State Street SPDR Portfolio High Yield Bond ETF   | State Street SPDR Portfolio High Yield Bond ETF                                                                        | CUSIP: 78468R606<br>LEI: 549300B3SM8J1H4W2052 | Long             | EC               | RF                | US        |      14268 | NS      | $339863.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SWCH Commercial Mortgage Trust                    | SWCH Commercial Mortgage Trust 2025-DATA                                                                               | CUSIP: 78489CAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $991885.30    | 0.29%             | 2042-02-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Sabey Data Center Issuer LLC                      | Sabey Data Center Issuer LLC                                                                                           | CUSIP: 78520EAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1000000 | PA      | $992762.50    | 0.29%             | 2047-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                    | Sabre GLBL Inc                                                                                                         | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     535000 | PA      | $462742.90    | 0.14%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust           | Saluda Grade Alternative Mortgage Trust 2023-FIG4                                                                      | CUSIP: 79581UAB0<br>LEI: 213800ETGZN4SIG56R83 | Long             | ABS-O            | CORP              | US        |     154902 | PA      | $160483.25    | 0.05%             | 2053-11-25      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                                                             | CUSIP: 80282KBH8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     470000 | PA      | $527081.20    | 0.15%             | 2031-11-09      | Fixed         | 7.66%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                                                             | CUSIP: 80282KBQ8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     410000 | PA      | $424785.85    | 0.12%             | 2031-03-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| SANTOS FINANCE LTD                                | Santos Finance Ltd                                                                                                     | CUSIP: 803014AC3<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |     450000 | PA      | $451186.68    | 0.13%             | 2035-11-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                              | Saudi Arabian Oil Co                                                                                                   | CUSIP: 80414L3B9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |     365000 | PA      | $376678.31    | 0.11%             | 2035-06-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                              | Saudi Arabian Oil Co                                                                                                   | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |     340000 | PA      | $362475.84    | 0.11%             | 2055-06-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                           | Schlumberger Holdings Corp                                                                                             | CUSIP: 806851AP6<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |     245000 | PA      | $247505.20    | 0.07%             | 2033-05-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                            | Sempra                                                                                                                 | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     245000 | PA      | $247620.77    | 0.07%             | 2055-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Service Experts Issuer                            | Service Experts Issuer 2025-1 LLC                                                                                      | CUSIP: 81758JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1495210 | PA      | $1498214.46   | 0.44%             | 2037-01-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ServiceMaster Brands                              | ServiceMaster Funding LLC                                                                                              | CUSIP: 81761TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     168833 | PA      | $160247.33    | 0.05%             | 2051-01-30      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| ServiceMaster Brands                              | ServiceMaster Funding LLC                                                                                              | CUSIP: 81761TAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     624684 | PA      | $542589.24    | 0.16%             | 2051-07-30      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| SHELL FINANCE US INC                              | Shell Finance US Inc                                                                                                   | CUSIP: 822905AQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     775000 | PA      | $780814.77    | 0.23%             | 2036-01-06      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                          | South Bow USA Infrastructure Holdings LLC                                                                              | CUSIP: 83007CAD4<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |     555000 | PA      | $563398.36    | 0.17%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                          | Delta Air Lines Inc / SkyMiles IP Ltd                                                                                  | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     705000 | PA      | $709281.94    | 0.21%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sotheby's Artfi Master Trust 2024-A               | Sotheby's Artfi Master Trust                                                                                           | CUSIP: 83589CAA6<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-O            | CORP              | US        |    1000000 | PA      | $1004488.40   | 0.29%             | 2031-12-22      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                               | Southern California Edison Co                                                                                          | CUSIP: 842400GT4<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     155000 | PA      | $109624.63    | 0.03%             | 2050-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                               | Southern California Edison Co                                                                                          | CUSIP: 842400JD6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     310000 | PA      | $297898.75    | 0.09%             | 2054-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN PUBLIC SERV                          | Southwestern Public Service Co                                                                                         | CUSIP: 845743BX0<br>LEI: OL6FE7QD5EQ3DOYEO258 | Long             | DBT              | CORP              | US        |     220000 | PA      | $228437.54    | 0.07%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                            | Spirit AeroSystems Inc                                                                                                 | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     510000 | PA      | $558762.05    | 0.16%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SPRINT SPECTRUM / SPEC I                          | Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC                                        | CUSIP: 85208NAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     110000 | PA      | $111030.87    | 0.03%             | 2028-03-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                         | Block Inc                                                                                                              | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     225000 | PA      | $231245.19    | 0.07%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                | Subway Funding LLC                                                                                                     | CUSIP: 864300AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     410850 | PA      | $409337.09    | 0.12%             | 2054-07-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                            | Switch ABS Issuer LLC                                                                                                  | CUSIP: 871044AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     200000 | PA      | $202357.76    | 0.06%             | 2054-03-25      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                            | Switch ABS Issuer LLC                                                                                                  | CUSIP: 871044AU7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     505000 | PA      | $505612.36    | 0.15%             | 2055-10-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                           | TRTX 2025-FL7 Issuer Ltd                                                                                               | CUSIP: 87277LAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     450000 | PA      | $449999.46    | 0.13%             | 2043-06-18      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                           | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                                           | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     515000 | PA      | $513283.30    | 0.15%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                        | TELUS Corp                                                                                                             | CUSIP: 87971MCM3<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |     260000 | PA      | $271408.80    | 0.08%             | 2055-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                          | TerraForm Power Operating LLC                                                                                          | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |     148000 | PA      | $142280.21    | 0.04%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                           | Teva Pharmaceutical Finance Netherlands III BV                                                                         | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |      50000 | PA      | $57525.20     | 0.02%             | 2031-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                             | Time Warner Cable LLC                                                                                                  | CUSIP: 88732JBB3<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |     515000 | PA      | $456456.14    | 0.13%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2024-CES1                                                                                    | CUSIP: 89183CAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     220000 | PA      | $222248.64    | 0.07%             | 2064-01-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| TRANSATLANTIC HOLDINGS                            | Transatlantic Holdings Inc                                                                                             | CUSIP: 893521AB0<br>LEI: RN37QJVS1BV19MNIC295 | Long             | DBT              | CORP              | US        |     245000 | PA      | $311961.16    | 0.09%             | 2039-11-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| 200 PARK FUNDING TRUST                            | 200 Park Funding Trust                                                                                                 | CUSIP: 901928AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     755000 | PA      | $760684.98    | 0.22%             | 2055-02-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                           | CUSIP: 902613AH1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     515000 | PA      | $505390.02    | 0.15%             | 2027-08-10      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                           | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      81000 | PA      | $79885.29     | 0.02%             | 2027-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                           | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     315000 | PA      | $315998.62    | 0.09%             | 2027-08-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                           | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     360000 | PA      | $367496.28    | 0.11%             | 2029-09-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2023-1 A PTT                           | United Airlines 2023-1 Class A Pass Through Trust                                                                      | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     191259 | PA      | $201861.91    | 0.06%             | 2036-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                           | United Airlines 2020-1 Class B Pass Through Trust                                                                      | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      92796 | PA      | $92802.67     | 0.03%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                  | CUSIP: 91086QBB3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     145000 | PA      | $119886.00    | 0.04%             | 2044-03-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                  | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     565000 | PA      | $352514.80    | 0.10%             | 2061-05-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                  | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     300000 | PA      | $316035.00    | 0.09%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                  | CUSIP: 91087BAZ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     300000 | PA      | $305520.00    | 0.09%             | 2036-05-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                             | Mexico Government International Bond                                                                                   | CUSIP: 91087BBL3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     375000 | PA      | $371070.00    | 0.11%             | 2035-09-22      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                             | United Parcel Service Inc                                                                                              | CUSIP: 911312CL8<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |     340000 | PA      | $357792.03    | 0.11%             | 2065-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                        | US Bancorp                                                                                                             | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    1160000 | PA      | $1244908.72   | 0.37%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                        | US Bancorp                                                                                                             | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     285000 | PA      | $302998.77    | 0.09%             | 2035-01-23      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bills                                                                                                    | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   10000000 | PA      | $9981543.20   | 2.93%             | 2025-12-18      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     360000 | PA      | $360140.62    | 0.11%             | 2044-11-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3475000 | PA      | $3529839.84   | 1.04%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1519000 | PA      | $1537275.47   | 0.45%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    4520000 | PA      | $4576500.00   | 1.34%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   14745000 | PA      | $15205781.25  | 4.46%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1265000 | PA      | $1264011.72   | 0.37%             | 2045-11-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                                                                  | CUSIP: 91282CNS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1613247 | PA      | $1627790.12   | 0.48%             | 2035-07-15      | Fixed         | 1.88%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    6650000 | PA      | $6778843.75   | 1.99%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CPA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    5452000 | PA      | $5457111.25   | 1.60%             | 2030-09-30      | Fixed         | 3.63%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3361000 | PA      | $3355748.44   | 0.99%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                          | United Wholesale Mortgage LLC                                                                                          | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |      58000 | PA      | $57400.11     | 0.02%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PEW8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     480000 | PA      | $442771.47    | 0.13%             | 2053-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PFL1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     330000 | PA      | $330595.97    | 0.10%             | 2054-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PFP2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     925000 | PA      | $941643.70    | 0.28%             | 2031-01-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PFQ0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     115000 | PA      | $119842.59    | 0.04%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PFR8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |      90000 | PA      | $94310.57     | 0.03%             | 2055-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                        | Uniti Fiber Abs Issuer LLC                                                                                             | CUSIP: 91326EAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     990000 | PA      | $1015715.05   | 0.30%             | 2055-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNUM GROUP                                        | Unum Group                                                                                                             | CUSIP: 91529YAS5<br>LEI: 549300E32YFDO6TZ8R31 | Long             | DBT              | CORP              | US        |     375000 | PA      | $308283.21    | 0.09%             | 2041-08-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Vanguard Intermediate-Term Corporate Bond ETF     | Vanguard Intermediate-Term Corporate Bond ETF                                                                          | CUSIP: 92206C870<br>LEI: VKDXEYNPEMWGHJ22MR31 | Long             | EC               | RF                | US        |      20139 | NS      | $1702752.45   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                                                                 | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     165000 | PA      | $174019.81    | 0.05%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                                                                 | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     155000 | PA      | $131949.09    | 0.04%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                            | Verizon Communications Inc                                                                                             | CUSIP: 92343VHG2<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     885000 | PA      | $886153.76    | 0.26%             | 2036-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                            | Verizon Communications Inc                                                                                             | CUSIP: 92343VHJ6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     270000 | PA      | $272510.35    | 0.08%             | 2055-11-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                        | Verus Securitization Trust 2024-9                                                                                      | CUSIP: 92540RAF1<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $201790.16    | 0.06%             | 2069-11-25      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                                                                       | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |      31000 | PA      | $28903.93     | 0.01%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Operations Co LLC                                                                                               | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     365000 | PA      | $366168.73    | 0.11%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                                                               | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     125000 | PA      | $124003.75    | 0.04%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                                                               | CUSIP: 92840VAV4<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     385000 | PA      | $384180.26    | 0.11%             | 2030-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Vista Management Holding Inc                      | Vista Management Holding Inc 2025 Term Loan B                                                                          | CUSIP: 92842EAB4<br>LEI: 5299005VABKD28UWHI65 | Long             | LON              | CORP              | US        |      14850 | PA      | $14951.13     | 0.00%             | 2031-04-01      | Floating      | 7.74%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                                                                       | CUSIP: 95000U2M4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     400000 | PA      | $375517.22    | 0.11%             | 2051-04-04      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                      | Fibercop SpA                                                                                                           | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |     130000 | PA      | $140965.46    | 0.04%             | 2029-01-18      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR                    | ALLSPRING GOVERNMENT MONEY MAR                                                                                         | CUSIP: 000000000<br>LEI: 549300GFSYYLVYEWA041 | Long             | STIV             | RF                | US        |    6009948 | NS      | $6009948.32   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE FINANCE CANADA                           | Glencore Finance Canada Ltd                                                                                            | CUSIP: 98417EAC4<br>LEI: 5493005TTO0UJ33KCK70 | Long             | DBT              | CORP              | CA        |     155000 | PA      | $176789.31    | 0.05%             | 2037-11-15      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                                   | Zayo Issuer LLC                                                                                                        | CUSIP: 98919WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     610000 | PA      | $620516.46    | 0.18%             | 2055-03-20      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                                   | Zayo Issuer LLC                                                                                                        | CUSIP: 98919WAN3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     700000 | PA      | $704387.25    | 0.21%             | 2055-10-20      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                   | Long: SPED05UQ1 CDS USD R F  5.00000 SPED05UQ1_FEE CCPCDX / Short: SPED05UQ1 CDS USD P V 03MEVENT SPED05UQ1_PRO CCPCDX | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    1540000 | OU      | $120059.57    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                          | Brazil Notas do Tesouro Nacional Serie F                                                                               | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   17740000 | PA      | $3351059.86   | 0.98%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                              | BAT International Finance PLC                                                                                          | CUSIP: 000000000<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |     100000 | PA      | $112571.94    | 0.03%             | 2030-01-16      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                  | ABN AMRO Bank NV                                                                                                       | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |     200000 | PA      | $233495.82    | 0.07%             | 2027-09-22      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| QUEENSLAND TREASURY CORP                          | Queensland Treasury Corp                                                                                               | CUSIP: 000000000<br>LEI: 98INKCEEHOU5YJS0HQ88 | Long             | DBT              | NUSS              | AU        |    1210000 | PA      | $763360.80    | 0.22%             | 2030-08-21      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| NEW S WALES TREASURY CRP                          | New South Wales Treasury Corp                                                                                          | CUSIP: 000000000<br>LEI: TC7LRO17HPNPLTAV0H77 | Long             | DBT              | NUSS              | AU        |    1215000 | PA      | $767056.47    | 0.23%             | 2029-04-20      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| TELE COLUMBUS AG                                  | Tele Columbus AG                                                                                                       | CUSIP: 000000000<br>LEI: 3912004GMFDLY04RUQ19 | Long             | DBT              | CORP              | DE        |       5250 | PA      | $4092.31      | 0.00%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                              | Colombian TES                                                                                                          | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 6200000000 | PA      | $1515179.95   | 0.44%             | 2027-11-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APA INFRASTRUCTURE LTD                            | APA Infrastructure Ltd                                                                                                 | CUSIP: 000000000<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |     150000 | PA      | $165892.76    | 0.05%             | 2030-07-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| NYKREDIT REALKREDIT A/S                           | Nykredit Realkredit A/S                                                                                                | CUSIP: 000000000<br>LEI: LIU16F6VZJSD6UKHD557 | Long             | DBT              | CORP              | DK        |     200000 | PA      | $232204.58    | 0.07%             | 2026-04-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| WINTERSHALL DEA FIN 2BV                           | Wintershall Dea Finance 2 BV                                                                                           | CUSIP: 000000000<br>LEI: 529900DV88FUQZSVVL48 | Long             | DBT              | CORP              | NL        |     200000 | PA      | $223692.26    | 0.07%             | 2028-07-20      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D                          | Banque Ouest Africaine de Developpement                                                                                | CUSIP: 000000000<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |     230000 | PA      | $227693.61    | 0.07%             | 2033-01-22      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| INFRASTRUTTURE WIRELESS                           | Infrastrutture Wireless Italiane SpA                                                                                   | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | DBT              | CORP              | IT        |     120000 | PA      | $129216.82    | 0.04%             | 2031-04-19      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| NEXI SPA                                          | Nexi SpA                                                                                                               | CUSIP: 000000000<br>LEI: 5493000P70CQRQG8SN85 | Long             | DBT              | CORP              | IT        |     150000 | PA      | $167186.77    | 0.05%             | 2029-04-30      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| AKER BP ASA                                       | Aker BP ASA                                                                                                            | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |     200000 | PA      | $217444.17    | 0.06%             | 2029-05-12      | Fixed         | 1.13%                 | Yes           |                  2 | On Loan: No      |
| VATTENFALL AB                                     | Vattenfall AB                                                                                                          | CUSIP: 000000000<br>LEI: 549300T5RZ1HA5HZ3109 | Long             | DBT              | CORP              | SE        |     105000 | PA      | $129995.61    | 0.04%             | 2083-06-29      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CASTELLUM AB                                      | Castellum AB                                                                                                           | CUSIP: 000000000<br>LEI: 549300GU5OHTR1T5IY68 | Long             | DBT              | CORP              | SE        |     200000 | PA      | $229244.66    | 0.07%             | 2026-12-02      | Fixed         | 3.13%                 | Yes           |                  2 | On Loan: No      |
| COMPUTERSHARE US INC                              | Computershare US Inc                                                                                                   | CUSIP: 000000000<br>LEI: 549300BXQ1PX3KGZRT72 | Long             | DBT              | CORP              | US        |     365000 | PA      | $372464.28    | 0.11%             | 2031-10-07      | Fixed         | 1.13%                 | Yes           |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                            | Market Bidco Finco PLC                                                                                                 | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |     140000 | PA      | $185542.07    | 0.05%             | 2027-11-04      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                  | Duke Energy Corp                                                                                                       | CUSIP: 000000000<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     165000 | PA      | $190785.28    | 0.06%             | 2034-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| RENTOKIL INITIAL FINANC                           | Rentokil Initial Finance BV                                                                                            | CUSIP: 000000000<br>LEI: 2549005WL1W9GJ5TM121 | Long             | DBT              | CORP              | NL        |     290000 | PA      | $342144.55    | 0.10%             | 2027-06-27      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| CZECH REPUBLIC                                    | Czech Republic Government Bond                                                                                         | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |   15630000 | PA      | $777631.68    | 0.23%             | 2030-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                  | Deutsche Bank AG                                                                                                       | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     100000 | PA      | $123258.75    | 0.04%             | 2030-09-05      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Singapore Government Bonds                        | Singapore Government Bonds                                                                                             | CUSIP: 000000000<br>LEI: 549300ZSV6VOGFH1ER70 | Long             | DBT              | NUSS              | SG        |    1025000 | PA      | $811346.61    | 0.24%             | 2027-09-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| RAIFFEISEN BANK INTL                              | Raiffeisen Bank International AG                                                                                       | CUSIP: 000000000<br>LEI: 9ZHRYM6F437SQJ6OUG95 | Long             | DBT              | CORP              | AT        |     100000 | PA      | $124133.22    | 0.04%             | 2032-12-20      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                           | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     125000 | PA      | $160610.88    | 0.05%             | 2029-03-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| CAIXABANK SA                                      | CaixaBank SA                                                                                                           | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |     100000 | PA      | $123120.06    | 0.04%             | 2033-02-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AXA SA                                            | AXA SA                                                                                                                 | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |     100000 | PA      | $118921.59    | 0.03%             | 2033-01-10      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                | Credit Agricole SA                                                                                                     | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |     200000 | PA      | $248206.51    | 0.07%             | 2028-09-23      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                              | Telefonica Europe BV                                                                                                   | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |     200000 | PA      | $247529.89    | 0.07%             | 2030-02-03      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                              | Enel Finance International NV                                                                                          | CUSIP: 000000000<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |     280000 | PA      | $339115.56    | 0.10%             | 2031-02-20      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                             | Global Payments, Inc.                                                                                                  | CUSIP: 000000000<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     100000 | PA      | $121400.38    | 0.04%             | 2031-03-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TDC NET AS                                        | TDC Net AS                                                                                                             | CUSIP: 000000000<br>LEI: 549300SH2G3R15Y3FX20 | Long             | DBT              | CORP              | DK        |     250000 | PA      | $321414.83    | 0.09%             | 2031-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                              | OI European Group BV                                                                                                   | CUSIP: 000000000<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |     130000 | PA      | $155247.82    | 0.05%             | 2028-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| UNIVERSAL MUSIC GROUP NV                          | Universal Music Group NV                                                                                               | CUSIP: 000000000<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | DBT              | CORP              | NL        |     115000 | PA      | $138309.60    | 0.04%             | 2031-06-13      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                          | British Telecommunications PLC                                                                                         | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |     100000 | PA      | $141860.95    | 0.04%             | 2083-12-20      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| KONINKLIJKE KPN NV                                | Koninklijke KPN NV                                                                                                     | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |     100000 | PA      | $120446.25    | 0.04%             | 2031-07-03      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ENERGIA GROUP ROI                                 | Energia Group Roi Financeco DAC                                                                                        | CUSIP: 000000000<br>LEI: 2138006WRV8S2EFW9516 | Long             | DBT              | CORP              | IE        |     100000 | PA      | $120152.44    | 0.04%             | 2028-07-31      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ICELAND BONDCO PLC                                | Iceland Bondco PLC                                                                                                     | CUSIP: 000000000<br>LEI: 2138002DRBYIA8QXHO36 | Long             | DBT              | CORP              | GB        |     149000 | PA      | $208761.55    | 0.06%             | 2027-12-15      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| KBC GROUP NV                                      | KBC Group NV                                                                                                           | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |     200000 | PA      | $255669.18    | 0.08%             | 2028-09-05      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| TELEPERFORMANCE                                   | Teleperformance SE                                                                                                     | CUSIP: 000000000<br>LEI: 9695004GI61FHFFNRG61 | Long             | DBT              | CORP              | FR        |     100000 | PA      | $126711.73    | 0.04%             | 2031-11-22      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TUI AG                                            | TUI AG                                                                                                                 | CUSIP: 000000000<br>LEI: 529900SL2WSPV293B552 | Long             | DBT              | CORP              | DE        |     110000 | PA      | $132338.94    | 0.04%             | 2029-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                            | Vmed O2 UK Financing I PLC                                                                                             | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |     150000 | PA      | $176194.60    | 0.05%             | 2032-04-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| CENTRICA PLC                                      | Centrica PLC                                                                                                           | CUSIP: 000000000<br>LEI: E26EDV109X6EEPBKVH76 | Long             | DBT              | CORP              | GB        |     500000 | PA      | $678337.51    | 0.20%             | 2055-05-21      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                | Zegona Finance PLC                                                                                                     | CUSIP: 000000000<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |     112500 | PA      | $137279.28    | 0.04%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SES SA                                            | SES SA                                                                                                                 | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | DBT              | CORP              | LU        |     255000 | PA      | $287626.82    | 0.08%             | 2054-09-12      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BAWAG GROUP AG                                    | BAWAG Group AG                                                                                                         | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | DBT              | CORP              | AT        |     200000 | PA      | $246385.92    | 0.07%             | 2029-09-18      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| UNITED GROUP BV                                   | United Group BV                                                                                                        | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |     115000 | PA      | $136633.12    | 0.04%             | 2031-10-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HLDNG D'INFRA METIERS                             | Holding d'Infrastructures des Metiers de l'Environnement SAS                                                           | CUSIP: 000000000<br>LEI: 969500I3QVK40XEORU25 | Long             | DBT              | CORP              | FR        |     265000 | PA      | $318577.54    | 0.09%             | 2029-10-24      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ESSENDI SA                                        | Essendi SA                                                                                                             | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |     500000 | PA      | $593445.28    | 0.17%             | 2031-11-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FRESSNAPF HOLDING SE                              | Fressnapf Holding SE                                                                                                   | CUSIP: 000000000<br>LEI: 529900NLSO3VLFW8JQ35 | Long             | DBT              | CORP              | DE        |     100000 | PA      | $116938.24    | 0.03%             | 2031-10-31      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| ALMAVIVA THE ITALIAN INN                          | Almaviva-The Italian Innovation Co SpA                                                                                 | CUSIP: 000000000<br>LEI: 815600A862DA4DD9E211 | Long             | DBT              | CORP              | IT        |     135000 | PA      | $157299.26    | 0.05%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EUROPEAN UNION                                    | European Union                                                                                                         | CUSIP: 000000000<br>LEI: 529900FZRK8FGMPEOM08 | Long             | DBT              | NUSS              | XX        |    1290000 | PA      | $1511987.55   | 0.44%             | 2028-07-04      | Fixed         | 2.63%                 | Yes           |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                           | Mexican Bonos                                                                                                          | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   14000000 | PA      | $773270.31    | 0.23%             | 2030-02-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                          | British Telecommunications PLC                                                                                         | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |     195000 | PA      | $223980.78    | 0.07%             | 2032-02-11      | Fixed         | 3.13%                 | Yes           |                  2 | On Loan: No      |
| French Republic Government Bonds OAT              | French Republic Government Bonds OAT                                                                                   | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |    3250000 | PA      | $3764349.18   | 1.11%             | 2031-02-25      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| AROUNDTOWN SA                                     | Aroundtown SA                                                                                                          | CUSIP: 000000000<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | DBT              | CORP              | LU        |     400000 | PA      | $460687.43    | 0.14%             | 2030-05-13      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| DUFRY ONE BV                                      | Dufry One BV                                                                                                           | CUSIP: 000000000<br>LEI: 7245003K5MN9U7XW0808 | Long             | DBT              | CORP              | NL        |     101000 | PA      | $120299.57    | 0.04%             | 2032-05-23      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BOBL FUTURE DEC25                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -36 | NC      | $359.24       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUND FUTURE DEC25                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -11 | NC      | $-10101.31    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-SCHATZ FUT DEC25                                                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -4 | NC      | $527.26       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR NOTE (CBT)MAR26                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         60 | NC      | $30366.78     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US ULTRA BOND CBT MAR26                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         25 | NC      | $27884.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 5YR NOTE (CBT) MAR26                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         51 | NC      | $13066.87     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 2YR NOTE (CBT) MAR26                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        160 | NC      | $14744.96     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR ULTRA FUT MAR26                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -25 | NC      | $-7451.70     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Transurban Finance Co. Pty. Ltd.                  | Transurban Finance Co. Pty. Ltd.                                                                                       | CUSIP: 000000000<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | CORP              | AU        |     135000 | PA      | $163487.03    | 0.05%             | 2033-04-26      | Fixed         | 4.23%                 | Yes           |                  2 | On Loan: No      |
| Spain Government Bonds                            | Spain Government Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |     780000 | PA      | $852347.91    | 0.25%             | 2030-10-31      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                              | Lorca Telecom Bondco SA                                                                                                | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |     215000 | PA      | $249826.79    | 0.07%             | 2027-09-18      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     435000 | PA      | $575756.56    | 0.17%             | 2027-03-07      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     610000 | PA      | $815445.53    | 0.24%             | 2029-07-22      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     850000 | PA      | $1146066.64   | 0.34%             | 2030-03-07      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

**Name of Applicant:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer