# EDGAR Filing Document

**Accession Number:** 0001976877
**File Stem:** 0001193125-26-244445
**Filing Date:** 2026-5
**Character Count:** 110672
**Document Hash:** e18eb01716ec9ca0b096f523a4099554
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-244445.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-244445

**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:** 261033381

**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 Aggregate Bond ETF (Series ID: S000081097)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000243768 | Madison Aggregate Bond ETF | MAGG            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Madison Aggregate Bond ETF** | **Madison Aggregate Bond ETF** | **Madison Aggregate Bond ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **MORTGAGE-BACKED SECURITIES - 35.3%** | **Par**  | **Value**  |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Pool G06168, 3.50%, 11/01/2040 | 111811 | $106224 |
| &nbsp;&nbsp; Pool G08653, 3.00%, 07/01/2045 | 190224 | 173159 |
| &nbsp;&nbsp; Pool G08779, 3.50%, 09/01/2047 | 82254 | 76123 |
| &nbsp;&nbsp; Pool G60722, 3.00%, 10/01/2046 | 236782 | 214403 |
| &nbsp;&nbsp; Pool G61386, 3.50%, 06/01/2048 | 105364 | 98153 |
| &nbsp;&nbsp; Pool Q04092, 4.00%, 10/01/2041 | 153461 | 148291 |
| &nbsp;&nbsp; Pool Q35614, 3.50%, 08/01/2045 | 241695 | 227204 |
| &nbsp;&nbsp; Pool Q52955, 3.50%, 12/01/2047 | 105963 | 98755 |
| &nbsp;&nbsp; Pool QA1033, 3.00%, 07/01/2049 | 180268 | 160840 |
| &nbsp;&nbsp; Pool RA7380, 3.50%, 05/01/2052 | 499002 | 460084 |
| &nbsp;&nbsp; Pool RA8278, 5.00%, 12/01/2052 | 191016 | 189609 |
| &nbsp;&nbsp; Pool RB5105, 2.00%, 03/01/2041 | 92429 | 81579 |
| &nbsp;&nbsp; Pool SB0546, 2.00%, 01/01/2036 | 283652 | 261853 |
| &nbsp;&nbsp; Pool SB8384, 5.00%, 05/01/2040 | 362929 | 365457 |
| &nbsp;&nbsp; Pool SC0151, 2.50%, 06/01/2041 | 297417 | 268232 |
| &nbsp;&nbsp; Pool SD0960, 3.50%, 04/01/2052 | 456305 | 421995 |
| &nbsp;&nbsp; Pool SD1859, 5.50%, 11/01/2052 | 106540 | 108640 |
| &nbsp;&nbsp; Pool SD1921, 4.50%, 12/01/2052 | 309911 | 301781 |
| &nbsp;&nbsp; Pool SD2172, 5.50%, 02/01/2053 | 303880 | 305987 |
| &nbsp;&nbsp; Pool SD2875, 5.00%, 05/01/2053 | 709405 | 705997 |
| &nbsp;&nbsp; Pool SD3174, 5.50%, 06/01/2053 | 386510 | 391067 |
| &nbsp;&nbsp; Pool SD3739, 6.00%, 09/01/2053 | 442049 | 457893 |
| &nbsp;&nbsp; Pool SD4901, 5.50%, 02/01/2054 | 247029 | 251052 |
| &nbsp;&nbsp; Pool SD7552, 2.50%, 01/01/2052 | 571072 | 490636 |
| &nbsp;&nbsp; Pool SD7556, 3.00%, 08/01/2052 | 425671 | 379533 |
| &nbsp;&nbsp; Pool SD8214, 3.50%, 05/01/2052 | 76011 | 69758 |
| &nbsp;&nbsp; Pool SD8244, 4.00%, 09/01/2052 | 199709 | 189139 |
| &nbsp;&nbsp; Pool SD8257, 4.50%, 10/01/2052 | 305951 | 296534 |
| &nbsp;&nbsp; Pool SD8266, 4.50%, 11/01/2052 | 1047636 | 1015283 |
| &nbsp;&nbsp; Pool SD8267, 5.00%, 11/01/2052 | 668068 | 663659 |
| &nbsp;&nbsp; Pool SD8268, 5.50%, 11/01/2052 | 89224 | 90109 |
| &nbsp;&nbsp; Pool SD8276, 5.00%, 12/01/2052 | 387849 | 384394 |
| &nbsp;&nbsp; Pool SD8299, 5.00%, 02/01/2053 | 196414 | 194645 |
| &nbsp;&nbsp; Pool SD8349, 5.50%, 08/01/2053 | 186586 | 188004 |
| &nbsp;&nbsp; Pool SD8363, 6.00%, 09/01/2053 | 516137 | 528551 |
| &nbsp;&nbsp; Pool V80025, 3.00%, 04/01/2043 | 96785 | 88856 |
| &nbsp;&nbsp; Pool V80026, 3.00%, 04/01/2043 | 775417 | 711771 |
| &nbsp;&nbsp; Pool ZS8641, 2.50%, 02/01/2032 | 76856 | 73921 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Pool 890696, 3.00%, 09/01/2030 | 69091 | 67671 |
| &nbsp;&nbsp; Pool AB2080, 4.00%, 01/01/2041 | 130926 | 126360 |
| &nbsp;&nbsp; Pool AB8818, 3.00%, 03/01/2043 | 76553 | 70160 |
| &nbsp;&nbsp; Pool AJ4046, 4.00%, 10/01/2041 | 136730 | 132631 |
| &nbsp;&nbsp; Pool AL3072, 3.00%, 02/01/2043 | 305476 | 280252 |
| &nbsp;&nbsp; Pool AL8924, 3.00%, 12/01/2030 | 71852 | 70829 |
| &nbsp;&nbsp; Pool AO4134, 3.50%, 06/01/2042 | 185185 | 174967 |
| &nbsp;&nbsp; Pool AP2133, 3.50%, 08/01/2042 | 178886 | 168904 |
| &nbsp;&nbsp; Pool AP7363, 4.00%, 10/01/2042 | 208335 | 200934 |
| &nbsp;&nbsp; Pool BE0108, 3.00%, 01/01/2047 | 92645 | 83948 |
| &nbsp;&nbsp; Pool BV4133, 2.50%, 03/01/2052 | 302328 | 255123 |
| &nbsp;&nbsp; Pool CB2548, 2.50%, 01/01/2052 | 92901 | 79316 |
| &nbsp;&nbsp; Pool CB2601, 2.00%, 01/01/2052 | 109054 | 89700 |
| &nbsp;&nbsp; Pool CB3105, 2.00%, 03/01/2052 | 566906 | 465994 |
| &nbsp;&nbsp; Pool CB3115, 3.00%, 03/01/2052 | 519412 | 463749 |
| &nbsp;&nbsp; Pool CB3845, 3.50%, 06/01/2052 | 378488 | 348970 |
| &nbsp;&nbsp; Pool CB4383, 4.50%, 08/01/2052 | 390447 | 378825 |
| &nbsp;&nbsp; Pool FA2986, 4.00%, 07/01/2055 | 240081 | 226693 |
| &nbsp;&nbsp; Pool FM5530, 4.00%, 11/01/2050 | 330948 | 314901 |
| &nbsp;&nbsp; Pool FS1704, 4.00%, 05/01/2052 | 214146 | 203920 |
| &nbsp;&nbsp; Pool FS2605, 4.50%, 08/01/2052 | 100682 | 97655 |
| &nbsp;&nbsp; Pool FS3478, 3.00%, 12/01/2051 | 199796 | 176036 |
| &nbsp;&nbsp; Pool FS4049, 2.50%, 09/01/2036 | 296594 | 281966 |
| &nbsp;&nbsp; Pool FS4138, 2.50%, 04/01/2052 | 352237 | 302091 |
| &nbsp;&nbsp; Pool FS4296, 3.00%, 01/01/2049 | 370589 | 339656 |
| &nbsp;&nbsp; Pool FS4996, 4.50%, 07/01/2053 | 345538 | 336140 |
| &nbsp;&nbsp; Pool FS5575, 5.50%, 09/01/2053 | 118547 | 120845 |
| &nbsp;&nbsp; Pool FS7759, 5.50%, 05/01/2054 | 219792 | 222461 |
| &nbsp;&nbsp; Pool FS9948, 2.50%, 04/01/2052 | 442065 | 382051 |
| &nbsp;&nbsp; Pool MA2177, 4.00%, 02/01/2035 | 127591 | 125898 |
| &nbsp;&nbsp; Pool MA4571, 2.50%, 03/01/2042 | 726412 | 652809 |
| &nbsp;&nbsp; Pool MA4699, 3.50%, 08/01/2052 | 216762 | 198875 |
| &nbsp;&nbsp; Pool MA4732, 4.00%, 09/01/2052 | 393196 | 372384 |
| &nbsp;&nbsp; Pool MA4783, 4.00%, 10/01/2052 | 754602 | 714388 |
| &nbsp;&nbsp; Pool MA4785, 5.00%, 10/01/2052 | 178027 | 176514 |
| &nbsp;&nbsp; Pool MA4806, 5.00%, 11/01/2052 | 541990 | 537385 |
| &nbsp;&nbsp; Pool MA4841, 5.00%, 12/01/2052 | 857745 | 850149 |
| &nbsp;&nbsp; Pool MA4842, 5.50%, 12/01/2052 | 243862 | 246281 |
| &nbsp;&nbsp; Pool MA4868, 5.00%, 01/01/2053 | 294536 | 292048 |
| &nbsp;&nbsp; Pool MA4941, 5.50%, 03/01/2053 | 279100 | 281499 |
| &nbsp;&nbsp; Pool MA5013, 4.50%, 05/01/2038 | 76022 | 75624 |
| &nbsp;&nbsp; Pool MA5072, 5.50%, 07/01/2053 | 921963 | 929184 |
| &nbsp;&nbsp; Pool MA5530, 5.00%, 11/01/2054 | 491643 | 485233 |
| &nbsp;&nbsp; Pool MA5539, 5.00%, 11/01/2044 | 188832 | 188461 |
| &nbsp;&nbsp; Pool MA5585, 5.00%, 01/01/2055 | 227993 | 224938 |
| &nbsp;&nbsp; Pool MA6042, 5.00%, 04/01/2046 | 500000 | 498009 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $24,282,388) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $24,282,388) | 24551598 |
| **CORPORATE BONDS - 33.2%** | **Par**  | **Value**  |
| **Communications - 1.1%** | **Communications - 1.1%** | **Communications - 1.1%** |
|  Meta Platforms, Inc., 4.88%, 11/15/2035 | 400000 | 392583 |
|  Verizon Communications, Inc., 5.88%, 11/30/2055 | 375000 | 365274 |
|  |  | 757857 |
| **Consumer Discretionary - 2.9%** | **Consumer Discretionary - 2.9%** | **Consumer Discretionary - 2.9%** |
| Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. |
| &nbsp;&nbsp; 4.88%, 03/13/2036 | 250000 | 247907 |
| &nbsp;&nbsp; 5.80%, 03/13/2056 | 250000 | 250629 |
|  BorgWarner, Inc., 5.40%, 08/15/2034 | 450000 | 455928 |
|  Home Depot, Inc., 5.88%, 12/16/2036 | 275000 | 292880 |
|  Lowe's Cos., Inc., 4.25%, 04/01/2052 | 150000 | 115183 |
|  Paychex, Inc., 5.60%, 04/15/2035 | 300000 | 301464 |
|  Royal Caribbean Cruises Ltd., 7.50%, 10/15/2027 | 100000 | 104219 |
|  Tractor Supply Co., 5.25%, 05/15/2033 | 225000 | 228586 |
|  |  | 1996796 |
| **Consumer Staples - 1.2%** | **Consumer Staples - 1.2%** | **Consumer Staples - 1.2%** |
|  Diageo Investment Corp., 5.13%, 08/15/2030 | 200000 | 204182 |
|  J M Smucker Co., 6.20%, 11/15/2033 | 350000 | 371058 |
|  Mars, Inc., 5.70%, 05/01/2055 <sup>(a)</sup> | 300000 | 293208 |
|  |  | 868448 |
| **Energy - 4.4%** | **Energy - 4.4%** | **Energy - 4.4%** |
|  Devon Energy Corp., 5.20%, 09/15/2034 | 450000 | 451492 |
| Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
| &nbsp;&nbsp; 6.55%, 12/01/2033 | 400000 | 432662 |
| &nbsp;&nbsp; 5.60%, 09/01/2034 | 150000 | 152941 |
|  Enterprise Products Operating LLC, 5.35%, 01/31/2033 | 350000 | 361129 |
|  Exxon Mobil Corp., 4.11%, 03/01/2046 | 275000 | 227138 |
|  Kinder Morgan, Inc., 5.55%, 06/01/2045 | 200000 | 191310 |
|  MPLX LP, 4.80%, 02/15/2029 | 350000 | 352765 |
|  Murphy Oil USA, Inc., 5.63%, 05/01/2027 | 200000 | 199683 |
|  ONEOK, Inc., 5.80%, 11/01/2030 | 150000 | 155892 |
|  Phillips 66 Co., 4.95%, 12/01/2027 | 200000 | 201895 |
|  Schlumberger Holdings Corp., 3.90%, 05/17/2028 <sup>(a)</sup> | 150000 | 148840 |
|  Valero Energy Corp., 4.00%, 06/01/2052 | 250000 | 182131 |
|  |  | 3057878 |
| **Financials - 15.7%** | **Financials - 15.7%** | **Financials - 15.7%** |
|  AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.63%, 10/15/2027 | 350000 | 350437 |
|  Air Lease Corp., 1.88%, 08/15/2026 | 90000 | 89090 |
|  Ally Financial, Inc., 6.85% to 01/03/2029 then SOFR + 2.82%, 01/03/2030 | 250000 | 260704 |
|  American Express Co., 5.28% to 07/27/2028 then SOFR + 1.28%, 07/27/2029 | 400000 | 407264 |
| 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 | 175000 | 176128 |
| &nbsp;&nbsp; 5.02% to 07/22/2032 then SOFR + 2.16%, 07/22/2033 | 430000 | 432473 |
| Bank of New York Mellon Corp. | Bank of New York Mellon Corp. | Bank of New York Mellon Corp. |
| &nbsp;&nbsp; 4.60% to 07/26/2029 then SOFR + 1.76%, 07/26/2030 | 275000 | 276520 |
| &nbsp;&nbsp; 5.83% to 10/25/2032 then SOFR + 2.07%, 10/25/2033 | 75000 | 79509 |
|  Berkshire Hathaway Finance Corp., 3.85%, 03/15/2052 | 30000 | 22688 |
| Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
| &nbsp;&nbsp; 5.47% to 02/01/2028 then SOFR + 2.08%, 02/01/2029 | 125000 | 126846 |
| &nbsp;&nbsp; 6.31% to 06/08/2028 then SOFR + 2.64%, 06/08/2029 | 270000 | 279156 |
| Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
| &nbsp;&nbsp; 4.91% to 05/24/2032 then SOFR + 2.09%, 05/24/2033 | 300000 | 298591 |
| &nbsp;&nbsp; 5.41% to 09/19/2034 then 5 yr. CMT Rate + 1.73%, 09/19/2039 | 300000 | 293256 |
|  Citizens Financial Group, Inc., 5.30% to 01/29/2031 then 5 yr. CMT Rate + 1.45%, 01/29/2036 | 350000 | 346872 |
|  Fidelity National Information Services, Inc., 4.80%, 03/10/2031 | 250000 | 247970 |
| Fifth Third Bancorp | Fifth Third Bancorp | Fifth Third Bancorp |
| &nbsp;&nbsp; 4.77% to 07/28/2029 then SOFR + 2.13%, 07/28/2030 | 350000 | 350157 |
| &nbsp;&nbsp; 4.34% to 04/25/2032 then SOFR + 1.66%, 04/25/2033 | 120000 | 115655 |
|  Goldman Sachs Group, Inc., 4.48% to 08/23/2027 then SOFR + 1.73%, 08/23/2028 | 375000 | 374897 |
| Huntington Bancshares, Inc. | Huntington Bancshares, Inc. | Huntington Bancshares, Inc. |
| &nbsp;&nbsp; 4.44% to 08/04/2027 then SOFR + 1.97%, 08/04/2028 | 115000 | 114909 |
| &nbsp;&nbsp; 6.21% to 08/21/2028 then SOFR + 2.02%, 08/21/2029 | 400000 | 414912 |
|  Intercontinental Exchange, Inc., 4.60%, 03/15/2033 | 150000 | 148569 |
|  Iron Mountain, Inc., 4.50%, 02/15/2031 <sup>(a)</sup> | 150000 | 140806 |
| JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
| &nbsp;&nbsp; 5.58% to 04/22/2029 then SOFR + 1.16%, 04/22/2030 | 150000 | 154585 |
| &nbsp;&nbsp; 4.91% to 07/25/2032 then SOFR + 2.08%, 07/25/2033 | 300000 | 300509 |
| &nbsp;&nbsp; 5.57% to 04/22/2035 then SOFR + 1.68%, 04/22/2036 | 350000 | 360530 |
|  KeyCorp, 4.10%, 04/30/2028 | 100000 | 99231 |
|  LPL Holdings, Inc., 4.00%, 03/15/2029 <sup>(a)</sup> | 275000 | 267086 |
| Morgan Stanley | Morgan Stanley | Morgan Stanley |
| &nbsp;&nbsp; 5.45% to 07/20/2028 then SOFR + 1.63%, 07/20/2029 | 400000 | 407090 |
| &nbsp;&nbsp; 4.89% to 07/20/2032 then SOFR + 2.08%, 07/20/2033 | 225000 | 223598 |
|  PayPal Holdings, Inc., 5.10%, 04/01/2035 | 250000 | 248256 |
| PNC Financial Services Group, Inc. | PNC Financial Services Group, Inc. | PNC Financial Services Group, Inc. |
| &nbsp;&nbsp; 5.35% to 12/02/2027 then SOFR + 1.62%, 12/02/2028 | 250000 | 253885 |
| &nbsp;&nbsp; 4.90% to 05/13/2030 then SOFR + 1.33%, 05/13/2031 | 183000 | 184137 |
| &nbsp;&nbsp; 6.88% to 10/20/2033 then SOFR + 2.28%, 10/20/2034 | 200000 | 220959 |
|  Regions Financial Corp., 1.80%, 08/12/2028 | 200000 | 187675 |
|  Simon Property Group LP, 4.30%, 01/15/2031 | 300000 | 295624 |
|  Synchrony Financial, 3.70%, 08/04/2026 | 275000 | 274187 |
| Truist Financial Corp. | Truist Financial Corp. | Truist Financial Corp. |
| &nbsp;&nbsp; 5.07% to 05/20/2030 then SOFR + 1.31%, 05/20/2031 | 175000 | 176933 |
| &nbsp;&nbsp; 5.87% to 06/08/2033 then SOFR + 2.36%, 06/08/2034 | 300000 | 312484 |
| US Bancorp | US Bancorp | US Bancorp |
| &nbsp;&nbsp; 4.55% to 07/22/2027 then SOFR + 1.66%, 07/22/2028 | 200000 | 200161 |
| &nbsp;&nbsp; 4.84% to 02/01/2033 then SOFR + 1.60%, 02/01/2034 | 190000 | 187853 |
| Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
| &nbsp;&nbsp; 6.30% to 10/23/2028 then SOFR + 1.79%, 10/23/2029 | 150000 | 156223 |
| &nbsp;&nbsp; 5.39% to 04/24/2033 then SOFR + 2.02%, 04/24/2034 | 200000 | 203138 |
| &nbsp;&nbsp; 4.96% (SOFR + 1.10%), 01/23/2037 | 550000 | 536191 |
|  Welltower OP LLC, 2.75%, 01/15/2032 | 150000 | 134849 |
|  Weyerhaeuser Co., 3.38%, 03/09/2033 | 250000 | 225228 |
|  |  | 10957821 |
| **Health Care - 3.0%** | **Health Care - 3.0%** | **Health Care - 3.0%** |
|  AbbVie, Inc., 5.40%, 03/15/2054 | 300000 | 286921 |
|  Amgen, Inc., 5.65%, 03/02/2053 | 250000 | 242736 |
|  Centene Corp., 2.45%, 07/15/2028 | 150000 | 139640 |
|  Eli Lilly & Co., 4.60%, 08/14/2034 | 350000 | 346752 |
| GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. |
| &nbsp;&nbsp; 4.80%, 08/14/2029 | 450000 | 453924 |
| &nbsp;&nbsp; 6.38%, 11/22/2052 | 300000 | 319208 |
|  Pfizer Investment Enterprises Pte Ltd., 5.30%, 05/19/2053 | 300000 | 279436 |
|  Zoetis, Inc., 3.00%, 05/15/2050 | 50000 | 32286 |
|  |  | 2100903 |
| **Industrials - 1.9%** | **Industrials - 1.9%** | **Industrials - 1.9%** |
|  BAE Systems PLC, 5.30%, 03/26/2034 <sup>(a)</sup> | 200000 | 204967 |
|  Eaton Corp., 4.80%, 03/06/2036 | 500000 | 494479 |
|  Honeywell Aerospace, Inc., 4.95%, 03/16/2036 <sup>(a)</sup> | 250000 | 248028 |
|  Nordson Corp., 5.80%, 09/15/2033 | 100000 | 104002 |
|  Norfolk Southern Corp., 5.95%, 03/15/2064 | 250000 | 247935 |
|  |  | 1299411 |
| **Materials - 0.7%** | **Materials - 0.7%** | **Materials - 0.7%** |
|  Packaging Corp. of America, 4.05%, 12/15/2049 | 100000 | 76337 |
|  Rio Tinto Finance USA PLC, 5.00%, 03/14/2032 | 125000 | 127472 |
|  Vulcan Materials Co., 3.50%, 06/01/2030 | 110000 | 105425 |
|  WRKCo, Inc., 3.90%, 06/01/2028 | 150000 | 148177 |
|  |  | 457411 |
| **Technology - 1.4%** | **Technology - 1.4%** | **Technology - 1.4%** |
|  Booz Allen Hamilton, Inc., 3.88%, 09/01/2028 <sup>(a)</sup> | 250000 | 243246 |
|  Cisco Systems, Inc., 5.05%, 02/26/2034 | 300000 | 304532 |
|  Dell International LLC / EMC Corp., 3.45%, 12/15/2051 | 200000 | 135620 |
|  NetApp, Inc., 5.50%, 03/17/2032 | 250000 | 255920 |
|  Oracle Corp., 3.95%, 03/25/2051 | 55000 | 34788 |
|  |  | 974106 |
| **Utilities - 0.9%** | **Utilities - 0.9%** | **Utilities - 0.9%** |
|  Duke Energy Corp., 4.30%, 03/15/2028 | 230000 | 229576 |
|  Florida Power & Light Co., 2.88%, 12/04/2051 | 400000 | 249396 |
|  PECO Energy Co., 3.05%, 03/15/2051 | 200000 | 129791 |
|  |  | 608763 |
| **TOTAL CORPORATE BONDS** (Cost $22,880,816) | **TOTAL CORPORATE BONDS** (Cost $22,880,816) | 23079394 |
| **U.S. TREASURY SECURITIES - 22.9%** | **Par**  | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.38%, 08/31/2028 | 1250000 | 1265527 |
| &nbsp;&nbsp; 4.88%, 10/31/2028 | 2000000 | 2050859 |
| &nbsp;&nbsp; 4.00%, 07/31/2030 | 2250000 | 2257295 |
| &nbsp;&nbsp; 4.00%, 01/31/2031 | 650000 | 651396 |
| &nbsp;&nbsp; 4.13%, 11/15/2032 | 2000000 | 2001563 |
| &nbsp;&nbsp; 3.50%, 02/15/2033 | 1750000 | 1684580 |
| &nbsp;&nbsp; 4.38%, 05/15/2034 | 1250000 | 1263916 |
| &nbsp;&nbsp; 4.13%, 02/15/2036 | 485000 | 477801 |
| &nbsp;&nbsp; 3.88%, 05/15/2043 | 1000000 | 887969 |
| &nbsp;&nbsp; 4.63%, 05/15/2044 | 1000000 | 971797 |
| &nbsp;&nbsp; 4.13%, 08/15/2053 | 1250000 | 1099072 |
| &nbsp;&nbsp; 4.25%, 08/15/2054 | 1250000 | 1122656 |
| &nbsp;&nbsp; 4.63%, 11/15/2055 | 175000 | 167645 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $16,054,460) | **TOTAL U.S. TREASURY SECURITIES** (Cost $16,054,460) | 15902076 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1%** | **Par**  | **Value**  |
|  Fannie Mae Connecticut Avenue Securities, Series 2022-R01, Class 1M1, 4.66% (30 day avg SOFR US + 1.00%), 12/25/2041 <sup>(a)</sup> | 29818 | 29791 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Series 2017-M15, Class ATS2, 3.16%, 11/25/2027 <sup>(b)</sup> | 181669 | 179666 |
| &nbsp;&nbsp; Series 2020-44, Class TI, 5.50%, 12/25/2035 <sup>(c)</sup> | 359087 | 49782 |
| &nbsp;&nbsp; Series 2022-M1, Class A2, 1.67%, 10/25/2031 <sup>(b)</sup> | 530000 | 461309 |
| &nbsp;&nbsp; Series 2024-99, Class EA, 5.50%, 05/25/2051 | 299314 | 301054 |
| &nbsp;&nbsp; Series 2025-5, Class EA, 5.50%, 10/25/2051 | 240014 | 241322 |
|  Flagstar Mortgage Trust, Series 2021-9INV, Class A1, 2.50%, 09/25/2041 <sup>(a)(b)</sup> | 170771 | 154718 |
|  FREMF Mortgage Trust, Series 2020-K106, Class B, 3.56%, 03/25/2053 <sup>(a)(b)</sup> | 100000 | 94146 |
| 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 2025-157, Class NA, 6.00%, 04/20/2055 | 488481 | 489349 |
| &nbsp;&nbsp; Series 2025-214, Class ND, 4.75%, 12/20/2055 | 742732 | 734868 |
| JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp; Series 2021-6, Class A4, 2.50%, 10/25/2051 <sup>(a)(b)</sup> | 86343 | 77967 |
| &nbsp;&nbsp; Series 2024-5, Class A4, 6.00%, 11/25/2054 <sup>(a)(b)</sup> | 84058 | 84343 |
|  Sequoia Mortgage Trust, Series 2013-7, Class A2, 3.00%, 06/25/2043 <sup>(b)</sup> | 197222 | 179225 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $3,562,384) | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $3,562,384) | 3554247 |
| **ASSET-BACKED SECURITIES - 2.2%** | **Par**  | **Value**  |
|  Capital One Financial Corp., Series 2023-A1, Class A, 4.42%, 05/15/2028 | 110000 | 110041 |
|  CarMax Auto Owner Trust, Series 2022-3, Class A4, 4.06%, 02/15/2028 | 117828 | 117797 |
|  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> | 86337 | 86895 |
|  Enterprise Fleet Financing, Series 2022-4, Class A2, 5.76%, 10/22/2029 <sup>(a)</sup> | 1256 | 1257 |
|  Nissan Auto Receivables Owner Trust, Series 2022-B, Class A4, 4.45%, 11/15/2029 | 50000 | 50057 |
| 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)(b)</sup> | 374267 | 374605 |
| &nbsp;&nbsp; Series 2024-CES1, Class A1A, 5.85%, 01/25/2064 <sup>(a)(b)</sup> | 257335 | 257758 |
|  Verizon Master Trust, Series 2024-3, Class B, 5.54%, 04/22/2030 | 500000 | 505742 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $1,533,111) | **TOTAL ASSET-BACKED SECURITIES** (Cost $1,533,111) | 1541953 |
| **TOTAL INVESTMENTS - 98.7% (**Cost $68,313,159**)** | **TOTAL INVESTMENTS - 98.7% (**Cost $68,313,159**)** | 68629268 |
| Other Assets in Excess of Liabilities - 1.3% | Other Assets in Excess of Liabilities - 1.3% | 915010 |
| **TOTAL NET ASSETS - 100.0%** |  | $69544278 |
| 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. |  |

---

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| SOFR - Secured Overnight Financing Rate |
| FREMF - Freddie Mac Multi-Family Mortgage Trust |

---

(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 $2,745,462 or 3.9% of the Fund's net assets.

(b) 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.

(c) Interest only security.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Madison Aggregate Bond 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;Mortgage-Backed Securities | $– | $24551598 | $– | $24551598 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 23079394 | – | 23079394 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 15902076 | – | 15902076 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations | – | 3554247 | – | 3554247 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 1541953 | – | 1541953 |
| Total Investments | $– | $68629268 | $– | $68629268 |
| 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 Aggregate Bond ETF

- **b. EDGAR series identifier (if any):** S000081097

- **c. LEI of Series:** 5493000IAHAFHNP0JZ30

**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:** $69565761.02

**Total Liabilities:** $21483.49

**Net Assets:** $69544277.53

**Cash Not Reported:** $386573.51

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 229.150384000000 | **1-Year:** 1810.318570000000 | **5-Year:** 7223.521037000000 | **10-Year:** 12080.441514000000 | **30-Year:** 16521.907995000000

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

- **3-Month:** 64.751759000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243768 | 0.21%                | 1.48%                | -1.74%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3057.18                 | $-116888.93                                |
| Month 2  | $22272.00                | $734234.74                                 |
| Month 3  | $-5818.56                | $-1506532.07                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMGEN INC                      | Amgen Inc                                                 | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242736.15    | 0.35%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust           | FREMF 2020-K106 Mortgage Trust                            | CUSIP: 30313WAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $94146.09     | 0.14%             | 2053-03-25      | Variable      | 3.56%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DQFQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    709405 | PA      | $705997.01    | 1.02%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DQQ33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    386510 | PA      | $391067.15    | 0.56%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DVL94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    571072 | PA      | $490635.70    | 0.71%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWH22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    186586 | PA      | $188004.28    | 0.27%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC         | GE HealthCare Technologies Inc                            | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    450000 | PA      | $453924.07    | 0.65%             | 2029-08-14      | Fixed         | 4.80%                 | 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    | 0.69%             | 2065-03-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HONEYWELL AEROSPACE INC        | Honeywell Aerospace Inc                                   | CUSIP: 43849RAG0<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248028.21    | 0.36%             | 2036-03-16      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DVMD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    425671 | PA      | $379533.01    | 0.55%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WRKCO INC                      | WRKCo Inc                                                 | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148177.17    | 0.21%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                     | Zoetis Inc                                                | CUSIP: 98978VAT0<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     50000 | PA      | $32285.64     | 0.05%             | 2050-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC      | Chesapeake Funding II LLC                                 | CUSIP: 165183CZ5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     86337 | PA      | $86894.92     | 0.12%             | 2035-10-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                             | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298591.03    | 0.43%             | 2033-05-24      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                             | CUSIP: 17327CAU7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293255.72    | 0.42%             | 2039-09-19      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP        | Dell International LLC / EMC Corp                         | CUSIP: 24703DBH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $135619.90    | 0.20%             | 2051-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132A9S65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76856 | PA      | $73920.57     | 0.11%             | 2032-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DPMV7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    303880 | PA      | $305986.74    | 0.44%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWGG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    196414 | PA      | $194644.76    | 0.28%             | 2053-02-01      | 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     | 0.07%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION        | Exxon Mobil Corp                                          | CUSIP: 30231GAW2<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    275000 | PA      | $227137.83    | 0.33%             | 2046-03-01      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3128M8FH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    111811 | PA      | $106223.66    | 0.15%             | 2040-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140W3J83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    240081 | PA      | $226693.35    | 0.33%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XLRS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    345538 | PA      | $336139.65    | 0.48%             | 2053-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EP38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    279100 | PA      | $281499.12    | 0.40%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP            | Fifth Third Bancorp                                       | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115654.73    | 0.17%             | 2033-04-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| MARS INC                       | Mars Inc                                                  | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293208.54    | 0.42%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| NORDSON CORP                   | Nordson Corp                                              | CUSIP: 655663AB8<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104001.83    | 0.15%             | 2033-09-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                      | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    183000 | PA      | $184136.55    | 0.26%             | 2031-05-13      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| PAYPAL HOLDINGS INC            | PayPal Holdings Inc                                       | CUSIP: 70450YAT0<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248256.26    | 0.36%             | 2035-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL            | Synchrony Financial                                       | CUSIP: 87165BAL7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    275000 | PA      | $274187.09    | 0.39%             | 2026-08-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DSNS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    247029 | PA      | $251051.96    | 0.36%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BULD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    299314 | PA      | $301054.38    | 0.43%             | 2051-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3138AVP82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    136730 | PA      | $132631.42    | 0.19%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XPTR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    219792 | PA      | $222461.02    | 0.32%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418BM37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    127591 | PA      | $125897.86    | 0.18%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ESB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     76022 | PA      | $75623.62     | 0.11%             | 2038-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FWC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $498009.21    | 0.72%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC             | Ally Financial Inc                                        | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $260703.91    | 0.37%             | 2030-01-03      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                 | Amazon.com Inc                                            | CUSIP: 023135DF0<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247907.42    | 0.36%             | 2036-03-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                 | Amazon.com Inc                                            | CUSIP: 023135DH6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250628.92    | 0.36%             | 2056-03-13      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                                       | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407264.14    | 0.59%             | 2029-07-27      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                      | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    430000 | PA      | $432473.48    | 0.62%             | 2033-07-22      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP         | Bank of New York Mellon Corp/The                          | CUSIP: 06406RBK2<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    275000 | PA      | $276519.67    | 0.40%             | 2030-07-26      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN         | Berkshire Hathaway Finance Corp                           | CUSIP: 084664DB4<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |     30000 | PA      | $22688.02     | 0.03%             | 2052-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC        | Booz Allen Hamilton Inc                                   | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243246.46    | 0.35%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                | BAE Systems PLC                                           | CUSIP: 05523RAL1<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $204967.58    | 0.29%             | 2034-03-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP         | Bank of New York Mellon Corp/The                          | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79509.07     | 0.11%             | 2033-10-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| Capital One Multi-Asset Execut | Capital One Multi-Asset Execution Trust                   | CUSIP: 14041NGD7<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-O            | CORP              | US        |    110000 | PA      | $110041.13    | 0.16%             | 2028-05-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    270000 | PA      | $279155.71    | 0.40%             | 2029-06-08      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                   | Centene Corp                                              | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139640.50    | 0.20%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R01              | CUSIP: 20754LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29818 | PA      | $29790.94     | 0.04%             | 2041-12-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER       | Enterprise Products Operating LLC                         | CUSIP: 29379VCD3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    350000 | PA      | $361128.65    | 0.52%             | 2033-01-31      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC              | Cisco Systems Inc                                         | CUSIP: 17275RBT8<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304531.61    | 0.44%             | 2034-02-26      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION       | Devon Energy Corp                                         | CUSIP: 25179MBG7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    450000 | PA      | $451491.60    | 0.65%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132CWTB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    283652 | PA      | $261852.80    | 0.38%             | 2036-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    305951 | PA      | $296534.12    | 0.43%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWER0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    199709 | PA      | $189138.47    | 0.27%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    668068 | PA      | $663659.29    | 0.95%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3132GKF92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    153461 | PA      | $148291.12    | 0.21%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3132L5A37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    775417 | PA      | $711770.55    | 1.02%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3132XVH97<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    105963 | PA      | $98755.05     | 0.14%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 31334XEE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    180268 | PA      | $160840.20    | 0.23%             | 2049-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3133KYU64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     92429 | PA      | $81579.41     | 0.12%             | 2041-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                         | CUSIP: 3136BUH37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    240014 | PA      | $241321.43    | 0.35%             | 2051-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3138LUSY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    185185 | PA      | $174966.60    | 0.25%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3138MBFD3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    208335 | PA      | $200934.06    | 0.29%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140QNN99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    519412 | PA      | $463748.76    | 0.67%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XKQB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    296594 | PA      | $281966.42    | 0.41%             | 2036-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EJ50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    754602 | PA      | $714388.14    | 1.03%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EKU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    541990 | PA      | $537384.84    | 0.77%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FF36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    227993 | PA      | $224938.10    | 0.32%             | 2055-01-01      | 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    | 0.36%             | 2031-03-10      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-9INV                         | CUSIP: 33851MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170771 | PA      | $154718.42    | 0.22%             | 2041-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                 | Home Depot Inc/The                                        | CUSIP: 437076AS1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    275000 | PA      | $292880.16    | 0.42%             | 2036-12-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES          | Huntington Bancshares Inc/OH                              | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    400000 | PA      | $414911.65    | 0.60%             | 2029-08-21      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                       | CUSIP: 46647PEX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    350000 | PA      | $360530.11    | 0.52%             | 2036-04-22      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3128MJ2M1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     82254 | PA      | $76123.26     | 0.11%             | 2047-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWDT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76011 | PA      | $69758.41     | 0.10%             | 2052-05-01      | Fixed         | 3.50%                 | 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        |     84058 | PA      | $84342.67     | 0.12%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                 | Lowe's Cos Inc                                            | CUSIP: 548661EJ2<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    150000 | PA      | $115183.04    | 0.17%             | 2052-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                      | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    200000 | PA      | $220959.44    | 0.32%             | 2034-10-20      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                 | Phillips 66 Co                                            | CUSIP: 718547AT9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201894.80    | 0.29%             | 2027-12-01      | Fixed         | 4.95%                 | 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        |    257335 | PA      | $257758.05    | 0.37%             | 2064-01-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2001562.50   | 2.88%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CHX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1265527.35   | 1.82%             | 2028-08-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                          | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203138.13    | 0.29%             | 2034-04-24      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1047636 | PA      | $1015282.67   | 1.46%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 31335BRF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    105364 | PA      | $98153.05     | 0.14%             | 2048-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3133KPFV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    499002 | PA      | $460084.25    | 0.66%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                 | Fannie Mae-Aces                                           | CUSIP: 3136AY6U2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    181669 | PA      | $179665.92    | 0.26%             | 2027-11-25      | Variable      | 3.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3138ET4J2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71852 | PA      | $70828.71     | 0.10%             | 2030-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XKS43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    352237 | PA      | $302090.87    | 0.43%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XSBS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    442065 | PA      | $382051.29    | 0.55%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31417FYQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     76553 | PA      | $70159.96     | 0.10%             | 2043-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EGH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    216762 | PA      | $198874.52    | 0.29%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    178027 | PA      | $176514.42    | 0.25%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ELX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    857745 | PA      | $850149.37    | 1.22%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    243862 | PA      | $246280.79    | 0.35%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FEM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    188832 | PA      | $188461.15    | 0.27%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP            | Fifth Third Bancorp                                       | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    350000 | PA      | $350156.98    | 0.50%             | 2030-07-28      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO       | Florida Power & Light Co                                  | CUSIP: 341081GE1<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    400000 | PA      | $249395.27    | 0.36%             | 2051-12-04      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                               | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374897.51    | 0.54%             | 2028-08-23      | Variable      | 4.48%                 | 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    | 0.70%             | 2055-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES          | Huntington Bancshares Inc/OH                              | CUSIP: 446150BB9<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114909.43    | 0.17%             | 2028-08-04      | Variable      | 4.44%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                       | CUSIP: 46647PDH6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300508.55    | 0.43%             | 2033-07-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| MPLX LP                        | MPLX LP                                                   | CUSIP: 55336VAS9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352765.01    | 0.51%             | 2029-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                            | CUSIP: 61747YEU5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    225000 | PA      | $223598.53    | 0.32%             | 2033-07-20      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC             | Murphy Oil USA Inc                                        | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199683.44    | 0.29%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                     | NetApp Inc                                                | CUSIP: 64110DAM6<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255920.43    | 0.37%             | 2032-03-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner  | Nissan Auto Receivables 2022-B Owner Trust                | CUSIP: 65480JAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50057.57     | 0.07%             | 2029-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                               | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     55000 | PA      | $34787.52     | 0.05%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER        | Pfizer Investment Enterprises Pte Ltd                     | CUSIP: 716973AG7<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    300000 | PA      | $279436.08    | 0.40%             | 2053-05-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP        | Schlumberger Holdings Corp                                | CUSIP: 806851AK7<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148840.53    | 0.21%             | 2028-05-17      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2013-7                             | CUSIP: 81745CAB9<br>LEI: 549300DFASAA48I36408 | Long             | ABS-MBS          | CORP              | US        |    197222 | PA      | $179224.64    | 0.26%             | 2043-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP        | Simon Property Group LP                                   | CUSIP: 828807EB9<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    300000 | PA      | $295624.04    | 0.43%             | 2031-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP          | Truist Financial Corp                                     | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    300000 | PA      | $312483.68    | 0.45%             | 2034-06-08      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP          | Truist Financial Corp                                     | CUSIP: 89788MAU6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176932.65    | 0.25%             | 2031-05-20      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| US BANCORP                     | US Bancorp                                                | CUSIP: 91159HJL5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    190000 | PA      | $187852.58    | 0.27%             | 2034-02-01      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1122656.25   | 1.61%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    175000 | PA      | $167644.53    | 0.24%             | 2055-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications Inc                                | CUSIP: 92343VHJ6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    375000 | PA      | $365273.96    | 0.53%             | 2055-11-30      | Fixed         | 5.88%                 | 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    | 0.73%             | 2030-04-22      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| DIAGEO INVESTMENT CORP         | Diageo Investment Corp                                    | CUSIP: 25245BAC1<br>LEI: S4G8DPIPDVCF6CB81Z61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204181.68    | 0.29%             | 2030-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP               | Duke Energy Corp                                          | CUSIP: 26441CBS3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    230000 | PA      | $229576.09    | 0.33%             | 2028-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                        | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    400000 | PA      | $432661.64    | 0.62%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3128MJWP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    190224 | PA      | $173158.87    | 0.25%             | 2045-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132D6J50<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    362929 | PA      | $365457.33    | 0.53%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DNB51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    456305 | PA      | $421995.21    | 0.61%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWJG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    516137 | PA      | $528551.01    | 0.76%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3138EKMW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    305476 | PA      | $280252.38    | 0.40%             | 2043-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140MHSX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    302328 | PA      | $255123.24    | 0.37%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140QM3K8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    109054 | PA      | $89700.03     | 0.13%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140QNNX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    566906 | PA      | $465994.08    | 0.67%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140X9EC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    330948 | PA      | $314900.67    | 0.45%             | 2050-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XJ2L6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    199796 | PA      | $176036.21    | 0.25%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31416XJ27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    130926 | PA      | $126359.81    | 0.18%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                 | Eli Lilly & Co                                            | CUSIP: 532457CR7<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346751.68    | 0.50%             | 2034-08-14      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                 | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155892.47    | 0.22%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                 | PECO Energy Co                                            | CUSIP: 693304BA4<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |    200000 | PA      | $129791.21    | 0.19%             | 2051-03-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| TRACTOR SUPPLY CO              | Tractor Supply Co                                         | CUSIP: 892356AB2<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228585.48    | 0.33%             | 2033-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $887968.75    | 1.28%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1750000 | PA      | $1684580.08   | 2.42%             | 2033-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                          | CUSIP: 95000U3G6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156223.38    | 0.22%             | 2029-10-23      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                          | CUSIP: 95000U4E0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    550000 | PA      | $536190.73    | 0.77%             | 2037-01-23      | Variable      | 4.96%                 | 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        |    117828 | PA      | $117796.97    | 0.17%             | 2028-02-15      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                                         | CUSIP: 49456BAH4<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191309.92    | 0.28%             | 2045-06-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| PACKAGING CORP OF AMERIC       | Packaging Corp of America                                 | CUSIP: 695156AV1<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $76337.38     | 0.11%             | 2049-12-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                    | Paychex Inc                                               | CUSIP: 704326AC1<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301463.61    | 0.43%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC          | Rio Tinto Finance USA PLC                                 | CUSIP: 76720AAT3<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $127471.76    | 0.18%             | 2032-03-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CHR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2250000 | PA      | $2257294.93   | 3.25%             | 2030-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CJF9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2050859.38   | 2.95%             | 2028-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1263916.01   | 1.82%             | 2034-05-15      | Fixed         | 4.38%                 | 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        |    374267 | PA      | $374604.94    | 0.54%             | 2064-10-27      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1099072.26   | 1.58%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BORGWARNER INC                 | BorgWarner Inc                                            | CUSIP: 099724AQ9<br>LEI: 549300DSFX2IE88NSX47 | Long             | DBT              | CORP              | US        |    450000 | PA      | $455928.39    | 0.66%             | 2034-08-15      | Fixed         | 5.40%                 | 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     | 0.05%             | 2035-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| EATON CORP                     | Eaton Corp                                                | CUSIP: 278058DZ2<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494478.98    | 0.71%             | 2036-03-06      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140QMZN7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     92901 | PA      | $79316.23     | 0.11%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140QPHX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    378488 | PA      | $348969.65    | 0.50%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XG3N7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    214146 | PA      | $203920.25    | 0.29%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XH3P0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    100682 | PA      | $97655.21     | 0.14%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO            | Vulcan Materials Co                                       | CUSIP: 929160AZ2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    110000 | PA      | $105424.85    | 0.15%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                                        | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    400000 | PA      | $392583.28    | 0.56%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132D9EY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    297417 | PA      | $268232.45    | 0.39%             | 2041-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DPD21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    309911 | PA      | $301780.67    | 0.43%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     89224 | PA      | $90108.51     | 0.13%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DWFR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    387849 | PA      | $384394.02    | 0.55%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3132QSGY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    241695 | PA      | $227203.71    | 0.33%             | 2045-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                 | Fannie Mae-Aces                                           | CUSIP: 3136BKX80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    530000 | PA      | $461309.09    | 0.66%             | 2031-10-25      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XKX21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    370589 | PA      | $339655.70    | 0.49%             | 2049-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140XMFR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118547 | PA      | $120845.14    | 0.17%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31410LRR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69091 | PA      | $67671.19     | 0.10%             | 2030-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ECH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    726412 | PA      | $652808.46    | 0.94%             | 2042-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EHJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    393196 | PA      | $372384.19    | 0.54%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418EMS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    294536 | PA      | $292048.16    | 0.42%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418FEC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    491643 | PA      | $485232.88    | 0.70%             | 2054-11-01      | Fixed         | 5.00%                 | 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    | 1.06%             | 2055-12-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                       | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154585.06    | 0.22%             | 2030-04-22      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                          | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    275000 | PA      | $267085.92    | 0.38%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                 | Air Lease Corp                                            | CUSIP: 00914AAM4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89089.60     | 0.13%             | 2026-08-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP       | Citizens Financial Group Inc                              | CUSIP: 174610BK0<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346871.58    | 0.50%             | 2036-01-29      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                        | CUSIP: 29273VBA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152941.13    | 0.22%             | 2034-09-01      | Fixed         | 5.60%                 | 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        |      1256 | PA      | $1257.32      | 0.00%             | 2029-10-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                | CUSIP: 14040HCX1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126846.24    | 0.18%             | 2029-02-01      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES        | Royal Caribbean Cruises Ltd                               | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    100000 | PA      | $104218.97    | 0.15%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CJX0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    650000 | PA      | $651396.49    | 0.94%             | 2031-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CPZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    485000 | PA      | $477800.78    | 0.69%             | 2036-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP             | Valero Energy Corp                                        | CUSIP: 91913YBE9<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    250000 | PA      | $182130.63    | 0.26%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC               | Welltower OP LLC                                          | CUSIP: 95040QAP9<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134849.04    | 0.19%             | 2032-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                     | AbbVie Inc                                                | CUSIP: 00287YDW6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $286920.81    | 0.41%             | 2054-03-15      | Fixed         | 5.40%                 | 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        |    350000 | PA      | $350436.59    | 0.50%             | 2027-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                      | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176127.78    | 0.25%             | 2028-07-22      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132DPB49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    106540 | PA      | $108640.22    | 0.16%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3132E0EL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    442049 | PA      | $457893.33    | 0.66%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 3132L5A29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     96785 | PA      | $88855.97     | 0.13%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                     | CUSIP: 31335AYT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    236782 | PA      | $214402.84    | 0.31%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                          | CUSIP: 3133KQFT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    191016 | PA      | $189608.60    | 0.27%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140QP2R7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    390447 | PA      | $378824.67    | 0.54%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    921963 | PA      | $929183.99    | 1.34%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC         | GE HealthCare Technologies Inc                            | CUSIP: 36267VAM5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $319207.94    | 0.46%             | 2052-11-22      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE       | Intercontinental Exchange Inc                             | CUSIP: 45866FAW4<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148568.72    | 0.21%             | 2033-03-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC              | Iron Mountain Inc                                         | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140806.49    | 0.20%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-6                           | CUSIP: 46653PAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     86343 | PA      | $77967.31     | 0.11%             | 2051-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| KEYCORP                        | KeyCorp                                                   | CUSIP: 49326EEG4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99231.08     | 0.14%             | 2028-04-30      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                            | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407090.08    | 0.59%             | 2029-07-20      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP          | Norfolk Southern Corp                                     | CUSIP: 655844CU0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247934.69    | 0.36%             | 2064-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                      | CUSIP: 693475BK0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253885.04    | 0.37%             | 2028-12-02      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP         | Regions Financial Corp                                    | CUSIP: 7591EPAT7<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    200000 | PA      | $187675.46    | 0.27%             | 2028-08-12      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                  | J M Smucker Co/The                                        | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    350000 | PA      | $371057.99    | 0.53%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| US BANCORP                     | US Bancorp                                                | CUSIP: 91159HJF8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200161.21    | 0.29%             | 2028-07-22      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $971796.88    | 1.40%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                | Weyerhaeuser Co                                           | CUSIP: 962166CA0<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              | CORP              | US        |    250000 | PA      | $225228.00    | 0.32%             | 2033-03-09      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3138M5LP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    178886 | PA      | $168904.27    | 0.24%             | 2042-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                           | CUSIP: 3140FKDN7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     92645 | PA      | $83948.01     | 0.12%             | 2047-01-01      | Fixed         | 3.00%                 | 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