# EDGAR Filing Document

**Accession Number:** 0001976877
**File Stem:** 0001193125-26-244447
**Filing Date:** 2026-5
**Character Count:** 59378
**Document Hash:** c8f7f493cccc147d9765ef00e9a5010d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-244447.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-244447

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Madison ETFs Trust
- **CENTRAL INDEX KEY:** 0001976877

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23875
- **FILM NUMBER:** 261033382

**BUSINESS ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711
- **BUSINESS PHONE:** 800-767-0300

**MAIL ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711

## Series and Classes Contracts Data

### Madison Short-Term Strategic Income ETF (Series ID: S000081095)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000243766 | Madison Short-Term Strategic Income ETF | MSTI            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Madison Short-Term Strategic Income ETF** | **Madison Short-Term Strategic Income ETF** | **Madison Short-Term Strategic Income ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **CORPORATE BONDS - 60.2%** | **Par**  | **Value**  |
| **Communications - 2.7%** | **Communications - 2.7%** | **Communications - 2.7%** |
|  Lamar Media Corp., 4.88%, 01/15/2029 | $620000 | $612491 |
|  VeriSign, Inc., 4.75%, 07/15/2027 | 900000 | 900120 |
|  |  | 1512611 |
| **Consumer Discretionary - 0.9%** | **Consumer Discretionary - 0.9%** | **Consumer Discretionary - 0.9%** |
|  Paychex, Inc., 5.10%, 04/15/2030 | 500000 | 504190 |
| **Consumer Staples - 1.1%** | **Consumer Staples - 1.1%** | **Consumer Staples - 1.1%** |
|  Lamb Weston Holdings, Inc., 4.88%, 05/15/2028 <sup>(a)</sup> | 600000 | 592827 |
| **Energy - 7.3%** | **Energy - 7.3%** | **Energy - 7.3%** |
|  Energy Transfer LP, 5.25%, 07/01/2029 | 1000000 | 1021728 |
|  Kinder Morgan, Inc., 5.00%, 02/01/2029 | 220000 | 223300 |
|  Marathon Petroleum Corp., 5.15%, 03/01/2030 | 875000 | 892551 |
|  Murphy Oil USA, Inc., 5.63%, 05/01/2027 | 1175000 | 1173140 |
|  Valero Energy Partners LP, 4.50%, 03/15/2028 | 700000 | 700087 |
|  |  | 4010806 |
| **Financials - 32.3% <sup>(b)</sup>** | **Financials - 32.3% <sup>(b)</sup>** | **Financials - 32.3% <sup>(b)</sup>** |
|  AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.63%, 10/15/2027 | 1033000 | 1034289 |
|  American Express Co., 5.02% to 04/25/2030 then SOFR + 1.44%, 04/25/2031 | 400000 | 406627 |
| Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
| &nbsp;&nbsp; 4.95% to 07/22/2027 then SOFR + 2.04%, 07/22/2028 | 870000 | 875607 |
| &nbsp;&nbsp; 4.46% to 02/06/2031 then SOFR + 0.87%, 02/06/2032 | 750000 | 740629 |
|  Boston Properties LP, 6.75%, 12/01/2027 | 715000 | 738917 |
|  Capital One Financial Corp., 5.46% to 07/26/2029 then SOFR + 1.56%, 07/26/2030 | 925000 | 944046 |
|  Fidelity National Information Services, Inc., 4.80%, 03/10/2031 | 250000 | 247970 |
|  Fifth Third Bancorp, 4.77% to 07/28/2029 then SOFR + 2.13%, 07/28/2030 | 1000000 | 1000449 |
| Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
| &nbsp;&nbsp; 4.48% to 08/23/2027 then SOFR + 1.73%, 08/23/2028 | 1243000 | 1242660 |
| &nbsp;&nbsp; 4.52% to 01/21/2031 then SOFR + 0.96%, 01/21/2032 | 500000 | 492448 |
|  Huntington Bancshares, Inc., 6.21% to 08/21/2028 then SOFR + 2.02%, 08/21/2029 | 1000000 | 1037279 |
|  Iron Mountain, Inc., 4.50%, 02/15/2031 <sup>(a)</sup> | 575000 | 539758 |
|  JPMorgan Chase & Co., 4.20% to 07/23/2028 then 3 mo. Term SOFR + 1.52%, 07/23/2029 | 1100000 | 1093410 |
|  KeyCorp, 4.10%, 04/30/2028 | 1028000 | 1020095 |
|  LPL Holdings, Inc., 4.00%, 03/15/2029 <sup>(a)</sup> | 1000000 | 971222 |
| Morgan Stanley | Morgan Stanley | Morgan Stanley |
| &nbsp;&nbsp; 3.77% to 01/24/2028 then 3 mo. Term SOFR + 1.40%, 01/24/2029 | 500000 | 493300 |
| &nbsp;&nbsp; 5.23% to 01/15/2030 then SOFR + 1.11%, 01/15/2031 | 250000 | 253833 |
| &nbsp;&nbsp; 4.49% to 01/16/2031 then SOFR + 0.95%, 01/16/2032 | 500000 | 491829 |
|  PNC Financial Services Group, Inc., 5.35% to 12/02/2027 then SOFR + 1.62%, 12/02/2028 | 1000000 | 1015540 |
|  RHP Hotel Properties LP / RHP Finance Corp., 7.25%, 07/15/2028 <sup>(a)</sup> | 625000 | 638223 |
|  SBA Communications Corp., 3.88%, 02/15/2027 | 713000 | 705717 |
|  Simon Property Group LP, 4.30%, 01/15/2031 | 750000 | 739060 |
|  Synchrony Financial, 5.45% to 03/06/2030 then SOFR + 1.68%, 03/06/2031 | 750000 | 749433 |
|  Truist Financial Corp., 5.07% to 05/20/2030 then SOFR + 1.31%, 05/20/2031 | 250000 | 252761 |
|  |  | 17725102 |
| **Health Care - 2.6%** | **Health Care - 2.6%** | **Health Care - 2.6%** |
|  Centene Corp., 4.25%, 12/15/2027 | 418000 | 410581 |
|  GE HealthCare Technologies, Inc., 4.80%, 08/14/2029 | 1000000 | 1008720 |
|  |  | 1419301 |
| **Industrials - 6.8%** | **Industrials - 6.8%** | **Industrials - 6.8%** |
|  Boeing Co., 6.30%, 05/01/2029 | 750000 | 787487 |
|  Clean Harbors, Inc., 6.38%, 02/01/2031 <sup>(a)</sup> | 625000 | 634447 |
|  Eaton Corp., 4.50%, 03/06/2033 | 500000 | 493355 |
|  Honeywell Aerospace, Inc., 4.30%, 03/16/2031 <sup>(a)</sup> | 500000 | 494911 |
|  Roller Bearing Co. of America, Inc., 4.38%, 10/15/2029 <sup>(a)</sup> | 575000 | 558204 |
|  TransDigm, Inc., 6.88%, 12/15/2030 <sup>(a)</sup> | 750000 | 768022 |
|  |  | 3736426 |
| **Materials - 1.1%** | **Materials - 1.1%** | **Materials - 1.1%** |
|  Celanese US Holdings LLC, 6.42%, 07/15/2027 | 613000 | 625628 |
| **Technology - 5.4%** | **Technology - 5.4%** | **Technology - 5.4%** |
|  Booz Allen Hamilton, Inc., 3.88%, 09/01/2028 <sup>(a)</sup> | 900000 | 875687 |
|  Gartner, Inc., 4.50%, 07/01/2028 <sup>(a)</sup> | 750000 | 737266 |
|  Micron Technology, Inc., 5.65%, 11/01/2032 | 250000 | 263943 |
|  NetApp, Inc., 5.50%, 03/17/2032 | 350000 | 358289 |
|  Oracle Corp., 4.80%, 09/26/2032 | 750000 | 714032 |
|  |  | 2949217 |
| **TOTAL CORPORATE BONDS** (Cost $32,443,600) | **TOTAL CORPORATE BONDS** (Cost $32,443,600) | 33076108 |
| **MORTGAGE-BACKED SECURITIES - 16.3%** | **Par**  | **Value**  |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Pool SB8384, 5.00%, 05/01/2040 | 725859 | 730915 |
| &nbsp;&nbsp; Pool SD2217, 6.00%, 01/01/2053 | 346271 | 353580 |
| &nbsp;&nbsp; Pool SD8266, 4.50%, 11/01/2052 | 992080 | 961442 |
| &nbsp;&nbsp; Pool SD8267, 5.00%, 11/01/2052 | 293335 | 291400 |
| &nbsp;&nbsp; Pool SD8276, 5.00%, 12/01/2052 | 872659 | 864887 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Pool 254904, 5.50%, 10/01/2033 | 42530 | 43414 |
| &nbsp;&nbsp; Pool 555880, 5.50%, 11/01/2033 | 71853 | 73196 |
| &nbsp;&nbsp; Pool 890696, 3.00%, 09/01/2030 | 24950 | 24437 |
| &nbsp;&nbsp; Pool FA2986, 4.00%, 07/01/2055 | 720242 | 680080 |
| &nbsp;&nbsp; Pool FS9357, 5.50%, 10/01/2054 | 450775 | 454237 |
| &nbsp;&nbsp; Pool MA0919, 3.50%, 12/01/2031 | 103278 | 101326 |
| &nbsp;&nbsp; Pool MA2177, 4.00%, 02/01/2035 | 64742 | 63883 |
| &nbsp;&nbsp; Pool MA4785, 5.00%, 10/01/2052 | 463706 | 459767 |
| &nbsp;&nbsp; Pool MA4806, 5.00%, 11/01/2052 | 375860 | 372666 |
| &nbsp;&nbsp; Pool MA4841, 5.00%, 12/01/2052 | 1258026 | 1246886 |
| &nbsp;&nbsp; Pool MA5072, 5.50%, 07/01/2053 | 1154298 | 1163338 |
| &nbsp;&nbsp; Pool MA5539, 5.00%, 11/01/2044 | 207715 | 207307 |
| &nbsp;&nbsp; Pool MA5833, 5.00%, 09/01/2045 | 360230 | 358062 |
| &nbsp;&nbsp; Pool MA6042, 5.00%, 04/01/2046 | 500000 | 498009 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $8,946,425) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $8,946,425) | 8948832 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 14.4%** | **Par**  | **Value**  |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Series 3187, Class Z, 5.00%, 07/15/2036 | 55642 | 56242 |
| &nbsp;&nbsp; Series 4037, Class B, 3.00%, 04/15/2027 | 18311 | 18213 |
| &nbsp;&nbsp; Series 4838, Class VA, 4.00%, 03/15/2036 | 118568 | 118383 |
| &nbsp;&nbsp; Series 5436, Class AB, 5.50%, 04/25/2049 | 329811 | 330700 |
| &nbsp;&nbsp; Series 5451, Class A, 5.00%, 05/25/2049 | 206642 | 206193 |
| &nbsp;&nbsp; Series 5569, Class BA, 5.00%, 07/25/2052 | 504757 | 505851 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Series 2005-79, Class LT, 5.50%, 09/25/2035 | 118153 | 120987 |
| &nbsp;&nbsp; Series 2011-31, Class DB, 3.50%, 04/25/2031 | 84983 | 83295 |
| &nbsp;&nbsp; Series 2011-36, Class QB, 4.00%, 05/25/2031 | 133008 | 131773 |
| &nbsp;&nbsp; Series 2016-97, Class PA, 3.00%, 12/25/2044 | 462489 | 451383 |
| &nbsp;&nbsp; Series 2020-44, Class TI, 5.50%, 12/25/2035 <sup>(c)</sup> | 359087 | 49782 |
| &nbsp;&nbsp; Series 2023-29, Class JA, 5.50%, 05/25/2036 | 320923 | 322113 |
| &nbsp;&nbsp; Series 2024-100, Class GA, 5.50%, 10/25/2051 | 473271 | 477525 |
| &nbsp;&nbsp; Series 2024-99, Class EA, 5.50%, 05/25/2051 | 448971 | 451582 |
| &nbsp;&nbsp; Series 2025-26, Class BA, 5.50%, 05/25/2048 | 601334 | 613729 |
| &nbsp;&nbsp; Series 2025-5, Class EA, 5.50%, 10/25/2051 | 450025 | 452478 |
| &nbsp;&nbsp; Series 2026-9, Class HC, 4.50%, 03/25/2055 | 719943 | 704377 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; Series 2024-153, Class AB, 4.50%, 03/16/2065 | 480785 | 476707 |
| &nbsp;&nbsp; Series 2025-153, Class A, 4.50%, 06/16/2054 | 496607 | 493691 |
| &nbsp;&nbsp; Series 2025-157, Class NA, 6.00%, 04/20/2055 | 488481 | 489349 |
| &nbsp;&nbsp; Series 2025-194, Class LV, 4.50%, 12/20/2036 | 488250 | 485328 |
| &nbsp;&nbsp; Series 2025-214, Class ND, 4.75%, 12/20/2055 | 742732 | 734868 |
|  JP Morgan Mortgage Trust, Series 2024-5, Class A4, 6.00%, 11/25/2054 <sup>(a)(d)</sup> | 168116 | 168685 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $7,947,964) | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $7,947,964) | 7943234 |
| **ASSET-BACKED SECURITIES - 4.4%** | **Par**  | **Value**  |
|  American Express Travel Related Services Co., Inc., Series 2024-3, Class A, 4.65%, 07/15/2029 | 200000 | 201497 |
|  CarMax Auto Owner Trust, Series 2022-3, Class A4, 4.06%, 02/15/2028 | 453185 | 453065 |
|  Chesapeake Funding II LLC |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A1, 5.65%, 05/15/2035 <sup>(a)</sup> | 37747 | 37801 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1, 6.16%, 10/15/2035 <sup>(a)</sup> | 35974 | 36206 |
|  CNH Equipment Trust, Series 2023-A, Class A4, 4.77%, 10/15/2030 | 118000 | 118837 |
| Enterprise Fleet Financing | Enterprise Fleet Financing | Enterprise Fleet Financing |
| &nbsp;&nbsp; Series 2022-4, Class A2, 5.76%, 10/22/2029 <sup>(a)</sup> | 6279 | 6287 |
| &nbsp;&nbsp; Series 2022-4, Class A3, 5.65%, 10/22/2029 <sup>(a)</sup> | 100000 | 100486 |
| Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| &nbsp;&nbsp; Series 2024-4, Class A1A, 4.55%, 10/27/2064 <sup>(a)(d)</sup> | 561401 | 561907 |
| &nbsp;&nbsp; Series 2024-CES1, Class A1A, 5.85%, 01/25/2064 <sup>(a)(d)</sup> | 386003 | 386637 |
|  Verizon Master Trust, Series 2024-3, Class B, 5.54%, 04/22/2030 | 500000 | 505742 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $2,393,759) | **TOTAL ASSET-BACKED SECURITIES** (Cost $2,393,759) | 2408465 |
| **U.S. TREASURY SECURITIES - 3.2%** | **Par**  | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.63%, 09/30/2028 | 500000 | 509531 |
| &nbsp;&nbsp; 4.13%, 11/15/2032 | 1250000 | 1250977 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $1,762,138) | **TOTAL U.S. TREASURY SECURITIES** (Cost $1,762,138) | 1760508 |
| **TOTAL INVESTMENTS - 98.5% (**Cost $53,493,886**)** | **TOTAL INVESTMENTS - 98.5% (**Cost $53,493,886**)** | 54137147 |
| Money Market Deposit Account - 2.5% <sup>(e)</sup> | Money Market Deposit Account - 2.5% <sup>(e)</sup> | 1388068 |
| Liabilities in Excess of Other Assets - (1.0)% | Liabilities in Excess of Other Assets - (1.0)% | (572244) |
| **TOTAL NET ASSETS - 100.0%** |  | $54952971 |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

LLC - Limited Liability Company <br> LP - Limited Partnership <br> SOFR - Secured Overnight Financing Rate

(a) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional
 investors. As of March 31, 2026, the value of these securities total $8,108,576 or 14.8% of the Fund's net assets.

(b) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.

(c) Interest only security.

(d) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the
 coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of March 31, 2026.

(e) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and
 is subject to change daily. The rate as of March 31, 2026 was 3.45%.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Madison Short-Term Strategic Income ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $33076108 | $– | $33076108 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | – | 8948832 | – | 8948832 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations | – | 7943234 | – | 7943234 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 2408465 | – | 2408465 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 1760508 | – | 1760508 |
| Total Investments | $– | $54137147 | $– | $54137147 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Madison ETFs Trust

- **b. Investment Company Act file number:** 811-23875

- **c. CIK number of Registrant:** 0001976877

- **d. LEI of Registrant:** 5493000I8Q6MKWCG2407

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

  - **Street Address 1:** 550 SCIENCE DRIVE

  - **City:** Madison

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53711

  - **Telephone number:** 800-767-0300

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

- **a. Name of Series:** Madison Short-Term Strategic Income ETF

- **b. EDGAR series identifier (if any):** S000081095

- **c. LEI of Series:** 5493000IALOEBWLDVK15

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $57004816.50

**Total Liabilities:** $17812.68

**Net Assets:** $56987003.82

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 638.470981000000 | **1-Year:** 2832.107121000000 | **5-Year:** 5481.350068000000 | **10-Year:** 1887.704326000000 | **30-Year:** 3339.186225000000

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

- **3-Month:** 855.616055000000 | **1-Year:** 184.592425000000 | **5-Year:** 20.342984000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243766 | 0.33%                | 0.67%                | -0.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-48054.94                                 |
| Month 2  | $126620.45               | $9572.27                                   |
| Month 3  | $64090.02                | $-821065.54                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN EXPRESS CO            | American Express Co                                       | CUSIP: 025816EF2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    400000 | PA      | $406627.46    | 0.71%             | 2031-04-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC      | Chesapeake Funding II LLC                                 | CUSIP: 165183CZ5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     35974 | PA      | $36206.22     | 0.06%             | 2035-10-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                        | CUSIP: 3137HMM72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    504757 | PA      | $505851.29    | 0.89%             | 2052-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EKU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    375860 | PA      | $372666.33    | 0.65%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                  | CUSIP: 38383JBF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    496607 | PA      | $493690.74    | 0.87%             | 2054-06-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES          | Huntington Bancshares Inc/OH                              | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1037279.12   | 1.82%             | 2029-08-21      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2024-5                    | CUSIP: 46658RAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    168116 | PA      | $168685.35    | 0.30%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    750000 | PA      | $764296.88    | 1.34%             | 2028-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                      | CUSIP: 060505GQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740629.33    | 1.30%             | 2032-02-06      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                      | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    870000 | PA      | $875606.66    | 1.54%             | 2028-07-22      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    293335 | PA      | $291399.83    | 0.51%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BQAW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    320923 | PA      | $322113.20    | 0.57%             | 2036-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BUH37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    450025 | PA      | $452477.68    | 0.79%             | 2051-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BUHL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    473271 | PA      | $477524.95    | 0.84%             | 2051-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP            | Fifth Third Bancorp                                       | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000448.50   | 1.76%             | 2030-07-28      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| HONEYWELL AEROSPACE INC        | Honeywell Aerospace Inc                                   | CUSIP: 43849RAE5<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494910.78    | 0.87%             | 2031-03-16      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC              | Iron Mountain Inc                                         | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    575000 | PA      | $539758.19    | 0.95%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                                         | CUSIP: 494553AD2<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    220000 | PA      | $223300.35    | 0.39%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                | Lamb Weston Holdings Inc                                  | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    600000 | PA      | $592826.88    | 1.04%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MARATHON PETROLEUM CORP        | Marathon Petroleum Corp                                   | CUSIP: 56585ABK7<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    875000 | PA      | $892550.75    | 1.57%             | 2030-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                            | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986600.71    | 1.73%             | 2029-01-24      | Variable      | 3.77%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                            | CUSIP: 61748UAE2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253832.86    | 0.45%             | 2031-01-15      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                     | NetApp Inc                                                | CUSIP: 64110DAM6<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |    350000 | PA      | $358288.60    | 0.63%             | 2032-03-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                             | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    750000 | PA      | $768021.75    | 1.35%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BULD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    448971 | PA      | $451581.58    | 0.79%             | 2051-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FWC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $498009.21    | 0.87%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV        | Fidelity National Information Services Inc                | CUSIP: 31620MCE4<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247970.44    | 0.44%             | 2031-03-10      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                            | CUSIP: 61748UAS1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491829.32    | 0.86%             | 2032-01-16      | Variable      | 4.49%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                               | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    750000 | PA      | $714032.00    | 1.25%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ROLLER BEARING CO OF AME       | Roller Bearing Co of America Inc                          | CUSIP: 775631AD6<br>LEI: 254900U9XW6S76H2P167 | Long             | DBT              | CORP              | US        |    575000 | PA      | $558204.48    | 0.98%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY PARTNERS         | Valero Energy Partners LP                                 | CUSIP: 91914JAB8<br>LEI: 549300WH1375KZXLJ231 | Long             | DBT              | CORP              | US        |    700000 | PA      | $700087.16    | 1.23%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                               | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1243000 | PA      | $1242660.26   | 2.18%             | 2028-08-23      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                    | Paychex Inc                                               | CUSIP: 704326AA5<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504190.05    | 0.88%             | 2030-04-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| US BANK MMDA - USBGFS 9        | US BANK MMDA - USBGFS 9                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   1388068 | NS      | $1388067.58   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                | CUSIP: 14040HDG7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    925000 | PA      | $944045.61    | 1.66%             | 2030-07-26      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC      | Chesapeake Funding II LLC                                 | CUSIP: 165183CU6<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     37747 | PA      | $37800.62     | 0.07%             | 2035-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31385XQ91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71853 | PA      | $73195.76     | 0.13%             | 2033-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    463706 | PA      | $459766.40    | 0.81%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1154298 | PA      | $1163338.36   | 2.04%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                   | Centene Corp                                              | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    418000 | PA      | $410580.54    | 0.72%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EATON CORP                     | Eaton Corp                                                | CUSIP: 278058DY5<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493354.60    | 0.87%             | 2033-03-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                        | CUSIP: 29273VAZ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1021727.43   | 1.79%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC | Enterprise Fleet Financing 2022-4 LLC                     | CUSIP: 29374GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100486.48    | 0.18%             | 2029-10-22      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DPPA0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    346271 | PA      | $353580.36    | 0.62%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BVRA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    601334 | PA      | $613728.66    | 1.08%             | 2048-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31371LDH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42530 | PA      | $43414.26     | 0.08%             | 2033-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                        | CUSIP: 3137HDJY7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    329811 | PA      | $330700.38    | 0.58%             | 2049-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XRMF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    450775 | PA      | $454237.27    | 0.80%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418AAV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    103278 | PA      | $101326.32    | 0.18%             | 2031-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FEM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    207715 | PA      | $207307.26    | 0.36%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                  | CUSIP: 38381LTG7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    480785 | PA      | $476706.71    | 0.84%             | 2065-03-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                       | CUSIP: 46647PAV8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1093410.18   | 1.92%             | 2029-07-23      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| KEYCORP                        | KeyCorp                                                   | CUSIP: 49326EEG4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   1028000 | PA      | $1020095.49   | 1.79%             | 2028-04-30      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP               | Lamar Media Corp                                          | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    620000 | PA      | $612490.93    | 1.07%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC          | Micron Technology Inc                                     | CUSIP: 595112CG6<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    250000 | PA      | $263943.60    | 0.46%             | 2032-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC             | Murphy Oil USA Inc                                        | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1173140.21   | 2.06%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                      | CUSIP: 693475BK0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015540.17   | 1.78%             | 2028-12-02      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN       | RHP Hotel Properties LP / RHP Finance Corp                | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625000 | PA      | $638223.31    | 1.12%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP        | Simon Property Group LP                                   | CUSIP: 828807EB9<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    750000 | PA      | $739060.10    | 1.30%             | 2031-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL            | Synchrony Financial                                       | CUSIP: 87165BAW3<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749432.89    | 1.32%             | 2031-03-06      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2024-CES1                       | CUSIP: 89183CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    386003 | PA      | $386637.09    | 0.68%             | 2064-01-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2024-4                          | CUSIP: 89183GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    561401 | PA      | $561907.42    | 0.99%             | 2064-10-27      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP          | Truist Financial Corp                                     | CUSIP: 89788MAU6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252760.92    | 0.44%             | 2031-05-20      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                   | VeriSign Inc                                              | CUSIP: 92343EAL6<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |    900000 | PA      | $900119.64    | 1.58%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136AUQS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    462489 | PA      | $451382.59    | 0.79%             | 2044-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 31394FHV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118153 | PA      | $120987.40    | 0.21%             | 2035-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140W3J83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    720242 | PA      | $680080.07    | 1.19%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418BM37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     64742 | PA      | $63882.59     | 0.11%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust            | CNH Equipment Trust 2023-A                                | CUSIP: 12664QAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118000 | PA      | $118837.36    | 0.21%             | 2030-10-15      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust        | Carmax Auto Owner Trust 2022-3                            | CUSIP: 14318MAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    453185 | PA      | $453065.27    | 0.80%             | 2028-02-15      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC       | Celanese US Holdings LLC                                  | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    613000 | PA      | $625628.20    | 1.10%             | 2027-07-15      | Fixed         | 7.17%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC | Enterprise Fleet Financing 2022-4 LLC                     | CUSIP: 29374GAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6279 | PA      | $6286.60      | 0.01%             | 2029-10-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31410LRR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24950 | PA      | $24436.82     | 0.04%             | 2030-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1033000 | PA      | $1034288.55   | 1.81%             | 2027-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| American Express Credit Accoun | American Express Credit Account Master Trust              | CUSIP: 02589BAE0<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $201496.86    | 0.35%             | 2029-07-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                  | Boeing Co/The                                             | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1049982.71   | 1.84%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC        | Booz Allen Hamilton Inc                                   | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    900000 | PA      | $875687.24    | 1.54%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132D6J50<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    725859 | PA      | $730914.65    | 1.28%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BY3V2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    719943 | PA      | $704377.19    | 1.24%             | 2055-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                        | CUSIP: 3137HFKT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    206642 | PA      | $206193.13    | 0.36%             | 2049-05-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                        | CUSIP: 31396UUY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     55642 | PA      | $56242.30     | 0.10%             | 2036-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 31397SD27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    133008 | PA      | $131773.38    | 0.23%             | 2031-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                  | CUSIP: 38385KZ60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    742732 | PA      | $734867.64    | 1.29%             | 2055-12-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                          | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971221.51    | 1.70%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP        | SBA Communications Corp                                   | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    713000 | PA      | $705716.58    | 1.24%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    992080 | PA      | $961441.92    | 1.69%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC         | GE HealthCare Technologies Inc                            | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008720.15   | 1.77%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                    | Gartner Inc                                               | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    750000 | PA      | $737265.92    | 1.29%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP           | Boston Properties LP                                      | CUSIP: 10112RBG8<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    715000 | PA      | $738916.91    | 1.30%             | 2027-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC              | Clean Harbors Inc                                         | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    625000 | PA      | $634447.50    | 1.11%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    872659 | PA      | $864886.54    | 1.52%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BAN34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    359087 | PA      | $49781.80     | 0.09%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 31397SHK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     84983 | PA      | $83294.66     | 0.15%             | 2031-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ELX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1258026 | PA      | $1246885.74   | 2.19%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                        | CUSIP: 3137ANUB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18311 | PA      | $18212.59     | 0.03%             | 2027-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1250976.56   | 2.20%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust           | Verizon Master Trust                                      | CUSIP: 92348KCS0<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $505741.65    | 0.89%             | 2030-04-22      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                        | CUSIP: 3137FJX79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    118568 | PA      | $118383.42    | 0.21%             | 2036-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FPT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    360230 | PA      | $358061.90    | 0.63%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                               | CUSIP: 38145GAR1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492447.53    | 0.86%             | 2032-01-21      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                  | CUSIP: 38381UUQ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    488481 | PA      | $489349.38    | 0.86%             | 2055-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                  | CUSIP: 38385JUB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    488250 | PA      | $485327.63    | 0.85%             | 2036-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-22

**Name of Applicant:** Madison ETFs Trust

**Signature:** /s/ Greg D. Hoppe

**Name of Signer:** Greg D. Hoppe

**Title:** Chief Financial Officer