# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0001752724-25-156356
**Filing Date:** 2025-6
**Character Count:** 69820
**Document Hash:** bcd4a64e0c9c5c22078455cd439a5bdd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-156356.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-156356

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND III
- **CENTRAL INDEX KEY:** 0001424212

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 251073505

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange-Traded Fund III
- **DATE OF NAME CHANGE:** 20160419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange Traded Fund III
- **DATE OF NAME CHANGE:** 20080116

## Series and Classes Contracts Data

### First Trust Institutional Preferred Securities and Income ETF (Series ID: S000058182)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000190801 | First Trust Institutional Preferred Securities and Income ETF | FPEI            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Exchange-Traded Fund III

- **b. Investment Company Act file number:** 811-22245

- **c. CIK number of Registrant:** 0001424212

- **d. LEI of Registrant:** 5493003Z20QMESC6XS29

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

  - **Street Address 1:** 120 East Liberty Drive, Suite 400

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust Institutional Preferred Securities and Income ETF

- **b. EDGAR series identifier (if any):** S000058182

- **c. LEI of Series:** 549300D7ZFDT8O4VUH39

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1501013360.25

**Total Liabilities:** $1049139.60

**Net Assets:** $1499964220.65

**Cash Not Reported:** $12667059.81

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 786.12915000 | **1-Year:** 42548.13763000 | **5-Year:** 404272.71160000 | **10-Year:** 229283.10350000 | **30-Year:** 6117.05709000

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

- **3-Month:** 0.41018000 | **1-Year:** 15540.13827000 | **5-Year:** 65259.94614000 | **10-Year:** 51722.11687000 | **30-Year:** 3125.97746000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000190801 | 0.78%                | -0.28%               | -1.06%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4484602.94              | $547941.91                                 |
| Month 2  | $943966.96               | $-12282401.76                              |
| Month 3  | $3115070.58              | $-27639264.56                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2300000 | PA      | $2278951.55   | 0.15%             | N/A             | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4150000 | PA      | $4103373.67   | 0.27%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN | Rogers Communications Inc                                                    | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  12700000 | PA      | $12662118.19  | 0.84%             | 2055-04-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8445000 | PA      | $8279512.96   | 0.55%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                                               | CUSIP: 61762VAA9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    811000 | PA      | $787579.13    | 0.05%             | N/A             | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| AXIS SPECIALTY FINANCE   | AXIS Specialty Finance LLC                                                   | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6196000 | PA      | $5898066.33   | 0.39%             | 2040-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05971PAE8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   1200000 | PA      | $1198670.88   | 0.08%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP       | Energy Transfer LP                                                           | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  15074000 | PA      | $14892484.92  | 0.99%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6700000 | PA      | $6580220.08   | 0.44%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ASSURED GUARANTY MUNI    | Assured Guaranty Municipal Holdings Inc                                      | CUSIP: 31769PAB6<br>LEI: 549300WKHOG7BKB8MS12 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2124521.36   | 0.14%             | 2066-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                                                 | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |  12941000 | PA      | $12190156.71  | 0.81%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC        | NatWest Group PLC                                                            | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    686000 | PA      | $683489.38    | 0.05%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05971KAP4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   7000000 | PA      | $7642971.00   | 0.51%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7562657.60   | 0.50%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05962GAJ8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   3592000 | PA      | $3557329.30   | 0.24%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO   | Global Atlantic Fin Co                                                       | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   6106000 | PA      | $6216024.01   | 0.41%             | 2054-10-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES   | PNC Financial Services Group Inc/The                                         | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  12525000 | PA      | $12548059.78  | 0.84%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV             | ING Groep NV                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   8885000 | PA      | $9229293.75   | 0.62%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     17492 | NS      | $20325704.00  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   8651000 | PA      | $8979149.73   | 0.60%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VOYA FINANCIAL INC       | Voya Financial Inc                                                           | CUSIP: 929089AG5<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |    755000 | PA      | $767499.03    | 0.05%             | N/A             | Fixed         | 7.76%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8195000 | PA      | $7990595.80   | 0.53%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP         | Duke Energy Corp                                                             | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |  10850000 | PA      | $10899931.70  | 0.73%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURA | Meiji Yasuda Life Insurance Co                                               | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |   8800000 | PA      | $8700640.08   | 0.58%             | 2055-06-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX | CUSIP: 07336UAA1<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   7200000 | PA      | $7482165.48   | 0.50%             | 2038-06-29      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1054641.00   | 0.07%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                                              | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8680276.50   | 0.58%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC             | Assurant Inc                                                                 | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |   4288000 | PA      | $4269745.56   | 0.28%             | 2048-03-27      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV             | ING Groep NV                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1004000 | PA      | $1019054.98   | 0.07%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc                                          | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $4334615.00   | 0.29%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BK OF TEXAS  | Farm Credit Bank of Texas                                                    | CUSIP: 30767EAC3<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |    800000 | PA      | $786000.00    | 0.05%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| SWEDBANK AB              | Swedbank AB                                                                  | CUSIP: 000000000<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   7800000 | PA      | $8014500.00   | 0.53%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico    | CUSIP: 072912AA6<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   3350000 | PA      | $3375125.00   | 0.23%             | 2035-02-11      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   7154000 | PA      | $6573208.95   | 0.44%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA     | Royal Bank of Canada                                                         | CUSIP: 780082AT0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  18100000 | PA      | $16651128.67  | 1.11%             | 2084-11-24      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP | Sumitomo Mitsui Financial Group Inc                                          | CUSIP: 86562MDK3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   6200000 | PA      | $6062020.24   | 0.40%             | N/A             | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA TRUST        | Transcanada Trust                                                            | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   7650000 | PA      | $7068096.63   | 0.47%             | 2082-03-07      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER  | American Electric Power Co Inc                                               | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |  17060000 | PA      | $17203815.80  | 1.15%             | 2054-12-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC   | CenterPoint Energy Inc                                                       | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |  13575000 | PA      | $13588933.38  | 0.91%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |  18000000 | PA      | $1350000.00   | 0.09%             | N/A             | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05971PAC2<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   3400000 | PA      | $3441786.00   | 0.23%             | N/A             | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC | Liberty Mutual Group Inc                                                     | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |  14818000 | PA      | $13999542.59  | 0.93%             | 2051-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   7146000 | PA      | $5859720.00   | 0.39%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES | Banco de Credito e Inversiones SA                                            | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |   3000000 | PA      | $3111390.00   | 0.21%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   9590000 | PA      | $9881430.51   | 0.66%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3885341.36   | 0.26%             | N/A             | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| COBANK ACB               | CoBank ACB                                                                   | CUSIP: 19075QAE2<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |    685000 | PA      | $683119.74    | 0.05%             | N/A             | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   6300000 | PA      | $5662331.64   | 0.38%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ARES FINANCE CO          | Ares Finance Co III LLC                                                      | CUSIP: 04018VAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8435000 | PA      | $8122963.20   | 0.54%             | 2051-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LAND O LAKES CAP TRST I  | Land O'Lakes Capital Trust I                                                 | CUSIP: 514665AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1131000 | PA      | $1128794.55   | 0.08%             | 2028-03-15      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   6650000 | PA      | $7276164.00   | 0.49%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA     | Royal Bank of Canada                                                         | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  12000000 | PA      | $12356688.00  | 0.82%             | 2084-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP        | State Street Corp                                                            | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   9887000 | PA      | $9946618.61   | 0.66%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  20000000 | PA      | $22643820.00  | 1.51%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG | Banco Bilbao Vizcaya Argentaria SA                                           | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  14600000 | PA      | $14324665.90  | 0.96%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967JM4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3998.66      | 0.00%             | N/A             | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                                                 | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3532055.52   | 0.24%             | N/A             | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BELL CANADA              | Bell Telephone Co of Canada or Bell Canada                                   | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |  17446000 | PA      | $17355999.58  | 1.16%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC             | Enbridge Inc                                                                 | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  11955000 | PA      | $12223748.40  | 0.81%             | 2083-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP       | Energy Transfer LP                                                           | CUSIP: 29273VAL4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100045.70    | 0.01%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO      | American Express Co                                                          | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  11885000 | PA      | $11401671.40  | 0.76%             | N/A             | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BK OF TEXAS  | Farm Credit Bank of Texas                                                    | CUSIP: 30767EAE9<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |   1500000 | PA      | $1558023.00   | 0.10%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  22200000 | PA      | $22923611.44  | 1.53%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225436AA2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   2057000 | PA      | $154275.00    | 0.01%             | N/A             | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES | Banco de Credito e Inversiones SA                                            | CUSIP: 05890PAC0<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    840000 | PA      | $871189.20    | 0.06%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE         | Societe Generale SA                                                          | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   7200000 | PA      | $7549457.62   | 0.50%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |  10101000 | PA      | $9880074.97   | 0.66%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2979000 | PA      | $2844160.51   | 0.19%             | N/A             | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CNP ASSURANCES SACA      | CNP Assurances SACA                                                          | CUSIP: 000000000<br>LEI: 969500QKVPV2H8UXM738 | Long             | DBT              | CORP              | FR        |  11200000 | PA      | $9606940.00   | 0.64%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COBANK ACB               | CoBank ACB                                                                   | CUSIP: 19075QAF9<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |   3000000 | PA      | $3009522.00   | 0.20%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL FARM CREDIT ACA  | Capital Farm Credit ACA                                                      | CUSIP: 14019TAA4<br>LEI: 254900S6K5I3OISPS518 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4116001.68   | 0.27%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3700000 | PA      | $3829533.30   | 0.26%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES   | PNC Financial Services Group Inc/The                                         | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  11084000 | PA      | $10990429.98  | 0.73%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                                                      | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    400000 | PA      | $387855.40    | 0.03%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC          | Global Atlantic Fin Co                                                       | CUSIP: 37959GAC1<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |  25534000 | PA      | $24275735.04  | 1.62%             | 2051-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| COBANK ACB               | CoBank ACB                                                                   | CUSIP: 19075QAC6<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |   1101000 | PA      | $1093165.28   | 0.07%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  18722000 | PA      | $18722284.01  | 1.25%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC        | HSBC Holdings PLC                                                            | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  23150000 | PA      | $22628333.27  | 1.51%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC             | Enbridge Inc                                                                 | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   3214000 | PA      | $3086138.72   | 0.21%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE             | AES Corp/The                                                                 | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |  19955000 | PA      | $18659708.18  | 1.24%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC             | NiSource Inc                                                                 | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   8037000 | PA      | $7861005.77   | 0.52%             | 2055-03-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  16155000 | PA      | $16514658.77  | 1.10%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   8400000 | PA      | $8593487.70   | 0.57%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE    | Nippon Life Insurance Co                                                     | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   4144000 | PA      | $4206815.91   | 0.28%             | 2055-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC        | HSBC Holdings PLC                                                            | CUSIP: 404280EH8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   7900000 | PA      | $7854312.72   | 0.52%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ASSURED GUARANTY MUNI    | Assured Guaranty Municipal Holdings Inc                                      | CUSIP: 000000000<br>LEI: 549300WKHOG7BKB8MS12 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1570298.40   | 0.10%             | 2066-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP        | State Street Corp                                                            | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  12570000 | PA      | $12653477.37  | 0.84%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC             | Enbridge Inc                                                                 | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  26050000 | PA      | $28144159.50  | 1.88%             | 2084-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SCENTRE GROUP TRUST 2    | Scentre Group Trust 2                                                        | CUSIP: 76025LAB0<br>LEI: 549300VRF0U0JH8TBJ74 | Long             | DBT              | CORP              | AU        |  11220000 | PA      | $10976182.67  | 0.73%             | 2080-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA      | Intesa Sanpaolo SpA                                                          | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $201122.45    | 0.01%             | N/A             | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  22645000 | PA      | $22948625.07  | 1.53%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC | Liberty Mutual Group Inc                                                     | CUSIP: 53079EBL7<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   6585000 | PA      | $4108500.16   | 0.27%             | 2061-02-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 514666AM8<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   3875000 | PA      | $3235625.00   | 0.22%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG         | Deutsche Bank AG                                                             | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  16850000 | PA      | $16543955.14  | 1.10%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC        | EUSHI Finance Inc                                                            | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7930000 | PA      | $7985169.01   | 0.53%             | 2054-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK    | Toronto-Dominion Bank/The                                                    | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  31080000 | PA      | $32201521.80  | 2.15%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte SA/Grand Cayman                                    | CUSIP: 05973KAB3<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   2000000 | PA      | $1781732.00   | 0.12%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA      | Bank of Nova Scotia/The                                                      | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  14600000 | PA      | $14975336.80  | 1.00%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY  | Algonquin Power & Utilities Corp                                             | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |  18559000 | PA      | $17436351.24  | 1.16%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HARTFORD INSUR GRP INC/T | Hartford Insurance Group Inc/The                                             | CUSIP: 416515BC7<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |  22521000 | PA      | $20589679.44  | 1.37%             | 2047-02-12      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG | Banco Bilbao Vizcaya Argentaria SA                                           | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  13800000 | PA      | $14897141.40  | 0.99%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE             | AES Corp/The                                                                 | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   2630000 | PA      | $2605179.90   | 0.17%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc                                          | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  12094000 | PA      | $12247434.64  | 0.82%             | 2054-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AL2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   7770000 | PA      | $582750.00    | 0.04%             | N/A             | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV             | ING Groep NV                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   5440000 | PA      | $5412800.00   | 0.36%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                                                          | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2504384.38   | 0.17%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CORESTATES CAPTL III     | Corestates Capital III                                                       | CUSIP: 21869MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986978.02    | 0.07%             | 2027-02-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL         | Bank of Montreal                                                             | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  22956000 | PA      | $23424509.00  | 1.56%             | 2084-05-26      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD              | AltaGas Ltd                                                                  | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |   5800000 | PA      | $5678875.12   | 0.38%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA       | Banco Santander SA                                                           | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   6600000 | PA      | $6242732.10   | 0.42%             | N/A             | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KUVARE US HOLDINGS INC   | Kuvare US Holdings Inc                                                       | CUSIP: 50149XAA2<br>LEI: 254900MGBERNLZXF7O58 | Long             | DBT              | CORP              | US        |   2464000 | PA      | $2463114.46   | 0.16%             | 2051-02-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565ASK0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  18000000 | PA      | $15230818.80  | 1.02%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  20050000 | PA      | $20533584.35  | 1.37%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC      | Dominion Energy Inc                                                          | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3388000 | PA      | $3486473.20   | 0.23%             | 2055-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| COMPEER FINANCIAL ACA    | Compeer Financial ACA                                                        | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | DBT              | CORP              | US        |    650000 | PA      | $620750.00    | 0.04%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     11501 | NS      | $13457090.08  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                                                         | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  37291000 | PA      | $37401400.75  | 2.49%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC | Lloyds Banking Group PLC                                                     | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  24180000 | PA      | $24848818.80  | 1.66%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC             | Barclays PLC                                                                 | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  14600000 | PA      | $14003556.42  | 0.93%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC   | Venture Global LNG Inc                                                       | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  19877000 | PA      | $17103262.05  | 1.14%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC      | Dominion Energy Inc                                                          | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   9316000 | PA      | $9182678.72   | 0.61%             | 2055-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SWEDBANK AB              | Swedbank AB                                                                  | CUSIP: 000000000<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    600000 | PA      | $616096.50    | 0.04%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP    | Lincoln National Corp                                                        | CUSIP: 534187BR9<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4241560.00   | 0.28%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG           | Commerzbank AG                                                               | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |  23400000 | PA      | $23218650.00  | 1.55%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                                                 | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    735000 | PA      | $724835.48    | 0.05%             | N/A             | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc                                          | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   3371000 | PA      | $3386533.57   | 0.23%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP           | Air Lease Corp                                                               | CUSIP: 00912XBQ6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  11935000 | PA      | $11200857.86  | 0.75%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  18364000 | PA      | $16795563.82  | 1.12%             | 2054-10-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6070000 | PA      | $6037486.23   | 0.40%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES   | PNC Financial Services Group Inc/The                                         | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   8499000 | PA      | $8382947.00   | 0.56%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                                                     | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   4175000 | PA      | $4153594.78   | 0.28%             | 2052-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC | Corebridge Financial Inc                                                     | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |  12665000 | PA      | $12811556.34  | 0.85%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER  | American Electric Power Co Inc                                               | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   7134000 | PA      | $6719293.45   | 0.45%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 514666AK2<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   7935000 | PA      | $7379519.85   | 0.49%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC         | Land O' Lakes Inc                                                            | CUSIP: 000000000<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |    400000 | PA      | $334000.00    | 0.02%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP             | Entergy Corp                                                                 | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15119025.00  | 1.01%             | 2054-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA      | Bank of Nova Scotia/The                                                      | CUSIP: 0641598X7<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   8400000 | PA      | $8332532.88   | 0.56%             | 2085-04-27      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| DAIRY FARMERS OF AMERICA | Dairy Farmers of America Inc                                                 | CUSIP: 23385HAA7<br>LEI: 1LTUIZEFFT7MUIERI838 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1140000.00   | 0.08%             | N/A             | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| DOMINION ENERGY INC      | Dominion Energy Inc                                                          | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  16700000 | PA      | $17380591.80  | 1.16%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LANCASHIRE HOLDINGS LTD  | Lancashire Holdings Ltd                                                      | CUSIP: 000000000<br>LEI: 5493002UNUYXLHOWF752 | Long             | DBT              | CORP              | BM        |   6850000 | PA      | $6318748.39   | 0.42%             | 2041-09-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN | Rogers Communications Inc                                                    | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   6000000 | PA      | $6048439.32   | 0.40%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA       | Credit Agricole SA                                                           | CUSIP: 225313AR6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  34600000 | PA      | $32849848.96  | 2.19%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS              | BNP Paribas SA                                                               | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  23450000 | PA      | $24500161.35  | 1.63%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AR9<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   6243000 | PA      | $468225.00    | 0.03%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG   | Credit Suisse Group AG                                                       | CUSIP: 225401AJ7<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   4150000 | PA      | $311250.00    | 0.02%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC | Corebridge Financial Inc                                                     | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |  12355000 | PA      | $11933908.24  | 0.80%             | 2054-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                                             | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  11640000 | PA      | $12282702.60  | 0.82%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| AMER AGCREDIT ACA        | American AgCredit Corp                                                       | CUSIP: 02369GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2812500.00   | 0.19%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC        | NatWest Group PLC                                                            | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   4183000 | PA      | $4330404.74   | 0.29%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1338130.30   | 0.09%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SEMPRA                   | Sempra                                                                       | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3522000 | PA      | $3409659.47   | 0.23%             | 2054-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                                                      | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  23150000 | PA      | $20229409.89  | 1.35%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                                                  | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2899000 | PA      | $2801595.92   | 0.19%             | N/A             | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                                                  | CUSIP: 59156RBS6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $3366146.00   | 0.22%             | 2038-04-08      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE         | Societe Generale SA                                                          | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  11000000 | PA      | $11855943.00  | 0.79%             | N/A             | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CITIGROUP INC            | Citigroup Inc                                                                | CUSIP: 172967PJ4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3983130.00   | 0.27%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER  | American Electric Power Co Inc                                               | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    785000 | PA      | $794073.82    | 0.05%             | 2054-12-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                                                  | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  16500000 | PA      | $16418324.34  | 1.09%             | 2055-03-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL         | Bank of Montreal                                                             | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  12500000 | PA      | $12315326.25  | 0.82%             | 2084-11-26      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| METLIFE CAPITAL TRUST IV | MetLife Capital Trust IV                                                     | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6514000 | PA      | $7039386.67   | 0.47%             | 2037-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA      | Bank of Nova Scotia/The                                                      | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  19400000 | PA      | $20104982.42  | 1.34%             | 2082-10-27      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK   | Canadian Imperial Bank of Commerce                                           | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   5783000 | PA      | $5590477.57   | 0.37%             | 2085-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC        | HSBC Holdings PLC                                                            | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  19600000 | PA      | $20405677.60  | 1.36%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX | CUSIP: 05533UAG3<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    700000 | PA      | $674189.44    | 0.04%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-23

**Name of Applicant:** First Trust Exchange-Traded Fund III

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer