# EDGAR Filing Document

**Accession Number:** 0001676326
**File Stem:** 0002071691-25-007397
**Filing Date:** 2025-11
**Character Count:** 121483
**Document Hash:** fd08eacbf9cfd72b6a0496c0784e0d83
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007397.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007397

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20250930

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23820
- **FILM NUMBER:** 251524914

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

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

## Series and Classes Contracts Data

### Eaton Vance Ultra-Short Income ETF (Series ID: S000082248)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000245532 | Eaton Vance Ultra-Short Income ETF | EVSB            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 1585 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

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

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

- **a. Name of Series:** Eaton Vance Ultra-Short Income ETF

- **b. EDGAR series identifier (if any):** S000082248

- **c. LEI of Series:** 254900V7QBF5XYWO0K24

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $265948178.10

**Total Liabilities:** $26567641.23

**Net Assets:** $239380536.87

**Delayed Delivery Securities:** $665000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2246.40993000 | **1-Year:** 9727.25105700 | **5-Year:** 3922.39056800 | **10-Year:** 2.82370700 | **30-Year:** 0.00000000

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

- **3-Month:** 60.60931700 | **1-Year:** 382.21331900 | **5-Year:** 36.33913300 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000245532 | 0.32%                | 0.55%                | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $20540.69                | $-123017.07                                |
| Month 2  | $14934.61                | $368052.61                                 |
| Month 3  | $26469.18                | $82194.60                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| General Motors Financial Co., Inc.                 | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XDK9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    480000 | PA      | $471065.77    | 0.20%             | 2026-06-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                          | Driven Brands Funding LLC, Series 2019-2A, Class A2                                       | CUSIP: 26208LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    436797 | PA      | $433825.47    | 0.18%             | 2049-10-20      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                      | Lendbuzz Securitization Trust, Series 2023-3A, Class A2                                   | CUSIP: 525931AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    974395 | PA      | $992427.80    | 0.41%             | 2028-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                          | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1846669.33   | 0.77%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                    | Jefferies Financial Group, Inc.                                                           | CUSIP: 47233WKM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1122471.52   | 0.47%             | 2026-08-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                  | NatWest Group plc                                                                         | CUSIP: 780097BA8<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     90000 | PA      | $90284.45     | 0.04%             | 2026-04-05      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| INTOWN Mortgage Trust                              | INTOWN Mortgage Trust, Series 2025-STAY, Class B                                          | CUSIP: 46117WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840000 | PA      | $839883.16    | 0.35%             | 2042-03-15      | Floating      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Infrastructure Holdings Canada, Inc.    | Brookfield Infrastructure Holdings Canada, Inc.                                           | CUSIP: 11275MX76<br>LEI: 549300GV8LYH0T7DZO77 | Long             | STIV             | CORP              | CA        |   2160000 | PA      | $2158151.90   | 0.90%             | 2025-10-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                           | Celanese US Holdings LLC                                                                  | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    430000 | PA      | $441388.93    | 0.18%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: —       |
| EPR Properties                                     | EPR Properties                                                                            | CUSIP: 26884UAC3<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1413781.28   | 0.59%             | 2026-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ORL Trust                                          | ORL Trust, Series 2024-GLKS, Class A                                                      | CUSIP: 67120DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    651000 | PA      | $652116.60    | 0.27%             | 2039-12-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| DLLMT LLC                                          | DLLMT LLC, Series 2024-1A, Class A2                                                       | CUSIP: 23347AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75273 | PA      | $75502.17     | 0.03%             | 2027-02-22      | Fixed         | 5.08%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                        | Truist Bank                                                                               | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1501000 | PA      | $1507713.04   | 0.63%             | 2028-07-24      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                              | Silgan Holdings, Inc.                                                                     | CUSIP: 827048AX7<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    558000 | PA      | $549324.93    | 0.23%             | 2026-04-01      | Fixed         | 1.40%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                | Intesa Sanpaolo SpA                                                                       | CUSIP: 46115HBU0<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    478000 | PA      | $479757.60    | 0.20%             | 2025-11-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                   | OneMain Financial Issuance Trust, Series 2021-1A, Class B                                 | CUSIP: 68269MAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $278489.65    | 0.12%             | 2036-06-16      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5370, Class FB                                                       | CUSIP: 3137HBFP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    806914 | PA      | $812938.45    | 0.34%             | 2054-01-25      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                               | Royal Bank of Canada                                                                      | CUSIP: 78016HZX1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $1108356.80   | 0.46%             | 2027-07-23      | Variable      | 5.07%                 | No            |                  2 | On Loan: —       |
| Royal Bank of Canada                               | Royal Bank of Canada                                                                      | CUSIP: 780082AD5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1705000 | PA      | $1706138.34   | 0.71%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: —       |
| Societe Generale SA                                | Societe Generale SA                                                                       | CUSIP: 83368RBZ4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    571000 | PA      | $577390.48    | 0.24%             | 2027-02-19      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                | Petroleos Mexicanos                                                                       | CUSIP: 71654QCB6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    546000 | PA      | $553562.65    | 0.23%             | 2026-08-04      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| UBS Group AG                                       | UBS Group AG                                                                              | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1600000 | PA      | $1605500.59   | 0.67%             | 2027-08-05      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: —       |
| Skyworks Solutions, Inc.                           | Skyworks Solutions, Inc.                                                                  | CUSIP: 83088MAK8<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |   1148000 | PA      | $1129223.04   | 0.47%             | 2026-06-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: —       |
| Oportun Issuance Trust                             | Oportun Issuance Trust, Series 2025-A, Class A                                            | CUSIP: 68377TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $600936.84    | 0.25%             | 2033-02-08      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| MMP Capital LLC                                    | MMP Capital LLC, Series 2025-A, Class A                                                   | CUSIP: 55317QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335113 | PA      | $337850.34    | 0.14%             | 2031-12-15      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                            | BPCE SA                                                                                   | CUSIP: 05583JAN2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    575000 | PA      | $577199.67    | 0.24%             | 2027-01-18      | Variable      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| Utah Acquisition Sub, Inc.                         | Utah Acquisition Sub, Inc.                                                                | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |   2385000 | PA      | $2374756.14   | 0.99%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Prosper Marketplace Issuance Trust                 | Prosper Marketplace Issuance Trust, Series 2024-1A, Class A                               | CUSIP: 74363CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2926 | PA      | $2926.78      | 0.00%             | 2029-08-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                    | Wingspire Equipment Finance LLC, Series 2025-1A, Class A2                                 | CUSIP: 97415CAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $395134.30    | 0.17%             | 2033-09-20      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| Berry Global, Inc.                                 | Berry Global, Inc.                                                                        | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    619000 | PA      | $613726.73    | 0.26%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                   | CVS Health Corp.                                                                          | CUSIP: 12665JX61<br>LEI: 549300EJG376EN5NQE29 | Long             | STIV             | CORP              | US        |   1225000 | PA      | $1224064.10   | 0.51%             | 2025-10-06      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| EQT Corp.                                          | EQT Corp.                                                                                 | CUSIP: 26884LBH1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    750000 | PA      | $764605.00    | 0.32%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5483, Class FB                                                       | CUSIP: 3137HHNE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    324835 | PA      | $326579.58    | 0.14%             | 2054-12-25      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                             | Truist Financial Corp.                                                                    | CUSIP: 89788MAJ1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1749000 | PA      | $1750481.95   | 0.73%             | 2026-10-28      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                          | Bank of Nova Scotia (The)                                                                 | CUSIP: 064159HB5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $700264.69    | 0.29%             | 2025-12-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                              | DB Master Finance LLC, Series 2021-1A, Class A2I                                          | CUSIP: 233046AN1<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    587125 | PA      | $571817.18    | 0.24%             | 2051-11-20      | Fixed         | 2.04%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                   | OneMain Financial Issuance Trust, Series 2022-2A, Class B                                 | CUSIP: 68268VAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1155000 | PA      | $1153920.42   | 0.48%             | 2034-10-14      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| Centene Corp.                                      | Centene Corp.                                                                             | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1823000 | PA      | $1791676.03   | 0.75%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                          | Chesapeake Funding II LLC, Series 2024-1A, Class A2                                       | CUSIP: 165183DJ0<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     95068 | PA      | $95014.45     | 0.04%             | 2036-05-15      | Floating      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.              | NextEra Energy Capital Holdings, Inc.                                                     | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1229000 | PA      | $1242602.26   | 0.52%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: —       |
| International Flavors & Fragrances, Inc.           | International Flavors & Fragrances, Inc.                                                  | CUSIP: 4595A2YE3<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | STIV             | CORP              | US        |   1160000 | PA      | $1153779.50   | 0.48%             | 2025-11-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Stack Infrastructure Issuer LLC                    | Stack Infrastructure Issuer LLC, Series 2021-1A, Class A2                                 | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-O            | CORP              | US        |   1325000 | PA      | $1306578.79   | 0.55%             | 2046-03-26      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2024-43, Class FB                                                            | CUSIP: 38384KNV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    350725 | PA      | $351593.19    | 0.15%             | 2054-03-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                          | Towd Point Mortgage Trust, Series 2025-HE2, Class A1A                                     | CUSIP: 89183PAA4<br>LEI: 254900HCCXAYNB40M417 | Long             | ABS-O            | CORP              | US        |    815000 | PA      | $818180.99    | 0.34%             | 2065-09-25      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| JDE Peet's NV                                      | JDE Peet's NV                                                                             | CUSIP: 47216QAB9<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |    220000 | PA      | $211766.81    | 0.09%             | 2027-01-15      | Fixed         | 1.38%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                | Rocket Mortgage LLC                                                                       | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1137420 | PA      | $1115045.96   | 0.47%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: —       |
| United States of America                           | U.S. Treasury Notes                                                                       | CUSIP: 9128287B0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15262700 | PA      | $15050064.64  | 6.29%             | 2026-06-30      | Fixed         | 1.88%                 | No            |                  2 | On Loan: —       |
| Delta Air Lines, Inc.                              | Delta Air Lines, Inc.                                                                     | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120428 | PA      | $121155.30    | 0.05%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Tesla Lease Electric Vehicle Securitization LLC    | Tesla Lease Electric Vehicle Securitization LLC, Series 2025-A, Class A2                  | CUSIP: 88162VAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1160000 | PA      | $1161408.24   | 0.49%             | 2028-06-20      | Fixed         | 4.14%                 | Yes           |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust, Series 2024-3A, Class A2                                        | CUSIP: 67571GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140673 | PA      | $141487.21    | 0.06%             | 2030-05-20      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                     | ACM Auto Trust, Series 2025-1A, Class A                                                   | CUSIP: 00161EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288705 | PA      | $287827.42    | 0.12%             | 2029-06-20      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5443, Class FA                                                       | CUSIP: 3137HDXH8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    652801 | PA      | $655005.43    | 0.27%             | 2054-08-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                          | Chesapeake Funding II LLC, Series 2023-2A, Class A1                                       | CUSIP: 165183CZ5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |    170968 | PA      | $173444.13    | 0.07%             | 2035-10-15      | Fixed         | 6.16%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5397, Class AF                                                       | CUSIP: 3137HCEA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    560626 | PA      | $561374.61    | 0.23%             | 2054-04-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                   | SoFi Consumer Loan Program Trust, Series 2025-2, Class A                                  | CUSIP: 83407HAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    594114 | PA      | $597384.89    | 0.25%             | 2034-06-25      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                      | Lendbuzz Securitization Trust, Series 2024-1A, Class A2                                   | CUSIP: 525935AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    266127 | PA      | $267903.08    | 0.11%             | 2029-08-15      | Fixed         | 6.19%                 | Yes           |                  2 | On Loan: No      |
| Reach ABS Trust                                    | Reach ABS Trust, Series 2024-2A, Class A                                                  | CUSIP: 75525HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     69637 | PA      | $70005.05     | 0.03%             | 2031-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class B                                | CUSIP: 02007G4C4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164521 | PA      | $165992.15    | 0.07%             | 2032-09-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| BHG Securitization Trust                           | BHG Securitization Trust, Series 2022-C, Class B                                          | CUSIP: 08860DAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     96262 | PA      | $96574.27     | 0.04%             | 2035-10-17      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5370, Class FA                                                       | CUSIP: 3137HBFN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    541869 | PA      | $543960.27    | 0.23%             | 2054-01-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                | Intesa Sanpaolo SpA                                                                       | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1675000 | PA      | $1678769.76   | 0.70%             | 2026-01-15      | Fixed         | 5.71%                 | Yes           |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust           | Research-Driven Pagaya Motor Asset Trust, Series 2025-4A, Class A2                        | CUSIP: 76089MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    430000 | PA      | $432187.84    | 0.18%             | 2034-04-25      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                         | STAR Trust, Series 2025-SFR5, Class A                                                     | CUSIP: 85520CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    424440 | PA      | $425847.78    | 0.18%             | 2042-02-17      | Floating      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                                   | CUSIP: 44891ADA2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166379.15    | 0.07%             | 2026-06-24      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                               | FNMA, REMIC, Series 2024-22, Class FG                                                     | CUSIP: 3136BRK89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    301189 | PA      | $302728.09    | 0.13%             | 2054-05-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                | Connecticut Avenue Securities Trust, Series 2025-R05, Class 2A1                           | CUSIP: 20753CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    682893 | PA      | $685092.31    | 0.29%             | 2045-07-25      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Clarus Capital Funding LLC                         | Clarus Capital Funding LLC, Series 2024-1A, Class A2                                      | CUSIP: 18271JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     82519 | PA      | $82839.65     | 0.03%             | 2032-08-20      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2023-101, Class FM                                                           | CUSIP: 38384CBT5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1125277 | PA      | $1125270.14   | 0.47%             | 2053-07-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2025-75, Class FA                                                     | CUSIP: 3136BXHG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1073037 | PA      | $1074675.94   | 0.45%             | 2055-09-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5529, Class AF                                                       | CUSIP: 3137HKU51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    741003 | PA      | $741447.15    | 0.31%             | 2055-03-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                 | T-Mobile USA, Inc.                                                                        | CUSIP: 87264ABU8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     83000 | PA      | $82337.42     | 0.03%             | 2026-04-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust, Series 2023-HE2, Class A1                                     | CUSIP: 46657FAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    441012 | PA      | $443682.09    | 0.19%             | 2054-03-20      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon (The)                      | Bank of New York Mellon (The)                                                             | CUSIP: 06405LAF8<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |    535000 | PA      | $536682.46    | 0.22%             | 2027-04-20      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| Canpack SA                                         | Canpack SA                                                                                | CUSIP: 13805AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    775000 | PA      | $773560.44    | 0.32%             | 2025-11-01      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Verdant Receivables LLC                            | Verdant Receivables LLC, Series 2025-1A, Class A2                                         | CUSIP: 92340GAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1055000 | PA      | $1061108.45   | 0.44%             | 2028-03-13      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Extended Stay America Trust                        | Extended Stay America Trust, Series 2025-ESH, Class A                                     | CUSIP: 30227TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    665000 | PA      | $668740.56    | 0.28%             | 2042-10-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                         | AerCap Ireland Capital DAC                                                                | CUSIP: 00774MAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1023000 | PA      | $1023000.00   | 0.43%             | 2025-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Western Union Co. (The)                            | Western Union Co. (The)                                                                   | CUSIP: 959802AZ2<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |    229500 | PA      | $226249.24    | 0.09%             | 2026-03-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Amur Equipment Finance Receivables XII LLC         | Amur Equipment Finance Receivables XII LLC, Series 2023-1A, Class A2                      | CUSIP: 03236YAB1<br>LEI: 5493000K1GV1VHEHGY40 | Long             | ABS-O            | CORP              | US        |     35686 | PA      | $36046.72     | 0.02%             | 2029-12-20      | Fixed         | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                     | Enterprise Fleet Financing LLC, Series 2023-1, Class A2                                   | CUSIP: 29375CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52102 | PA      | $52251.60     | 0.02%             | 2029-01-22      | Fixed         | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Extended Stay America Trust                        | Extended Stay America Trust, Series 2021-ESH, Class B                                     | CUSIP: 30227FAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    158536 | PA      | $158689.28    | 0.07%             | 2038-07-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                        | Toronto-Dominion Bank (The)                                                               | CUSIP: 89114TZD7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    480000 | PA      | $471235.62    | 0.20%             | 2026-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                              | Las Vegas Sands Corp.                                                                     | CUSIP: 517834AE7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   2102000 | PA      | $2085851.17   | 0.87%             | 2026-08-18      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Alterna Funding III LLC                            | Alterna Funding III LLC, Series 2024-1A, Class A                                          | CUSIP: 02157JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150431 | PA      | $150824.94    | 0.06%             | 2039-05-16      | Fixed         | 6.26%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                      | Lendbuzz Securitization Trust, Series 2024-3A, Class A2                                   | CUSIP: 52609YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     71919 | PA      | $71999.86     | 0.03%             | 2029-10-15      | Fixed         | 4.97%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5378, Class FA                                                       | CUSIP: 3137HBKC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    800188 | PA      | $801335.16    | 0.33%             | 2054-02-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Home RE Ltd.                                       | Home RE Ltd., Series 2021-2, Class B1                                                     | CUSIP: 43730VAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    555000 | PA      | $568369.23    | 0.24%             | 2034-01-25      | Floating      | 8.51%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                       | Barclays plc                                                                              | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1525000 | PA      | $1528545.23   | 0.64%             | 2026-11-02      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2025-134, Class FL                                                           | CUSIP: 38381UEK4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1152907 | PA      | $1153922.71   | 0.48%             | 2055-06-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG                                                                              | CUSIP: 902613AH1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    504000 | PA      | $492190.36    | 0.21%             | 2027-08-10      | Variable      | 1.49%                 | Yes           |                  2 | On Loan: —       |
| GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust, Series 2024-1, Class A2A              | CUSIP: 36268GAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       126 | PA      | $126.21       | 0.00%             | 2027-02-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1M1                           | CUSIP: 20754LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    130721 | PA      | $131116.67    | 0.05%             | 2041-12-25      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Taco Bell Funding LLC                              | Taco Bell Funding LLC, Series 2021-1A, Class A2I                                          | CUSIP: 87342RAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    594412 | PA      | $574452.07    | 0.24%             | 2051-08-25      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5386, Class FD                                                       | CUSIP: 3137HBXV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    430645 | PA      | $433369.24    | 0.18%             | 2054-03-25      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                | Societe Generale SA                                                                       | CUSIP: 83368RAZ5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1995000 | PA      | $1982758.12   | 0.83%             | 2026-12-14      | Variable      | 1.49%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                    | Santander UK Group Holdings plc                                                           | CUSIP: 80281LAS4<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1740000 | PA      | $1745213.93   | 0.73%             | 2026-11-21      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust, Series 2023-HE1, Class A1                                     | CUSIP: 46656UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63152 | PA      | $63512.75     | 0.03%             | 2053-11-25      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| Concentrix Corp.                                   | Concentrix Corp.                                                                          | CUSIP: 20602DAA9<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |   1173000 | PA      | $1190680.90   | 0.50%             | 2026-08-02      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                                   | CUSIP: 44891ACQ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    844000 | PA      | $845257.81    | 0.35%             | 2025-11-03      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                      | Enel Finance International NV                                                             | CUSIP: 29278GAZ1<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1975000 | PA      | $1976748.94   | 0.83%             | 2025-10-14      | Fixed         | 7.05%                 | Yes           |                  2 | On Loan: No      |
| NMEF Funding LLC                                   | NMEF Funding LLC, Series 2025-B, Class A2                                                 | CUSIP: 62919WAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320000 | PA      | $321441.02    | 0.13%             | 2033-01-18      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                    | Citigroup, Inc.                                                                           | CUSIP: 17327CAM5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    575000 | PA      | $569104.66    | 0.24%             | 2027-01-28      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                        | PNC Bank NA                                                                               | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1113000 | PA      | $1114922.66   | 0.47%             | 2027-05-13      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2025-2, Class FB                                                             | CUSIP: 38385BP53<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1132055 | PA      | $1134350.46   | 0.47%             | 2054-12-20      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                          | OBX Trust, Series 2025-HE1, Class A1                                                      | CUSIP: 67121CAA4<br>LEI: 2549002GJHC7CO92J583 | Long             | ABS-O            | CORP              | US        |   1526333 | PA      | $1541254.27   | 0.64%             | 2055-02-25      | Floating      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                 | VICI Properties LP                                                                        | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $548078.57    | 0.23%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                      | Lendbuzz Securitization Trust, Series 2025-2A, Class A2                                   | CUSIP: 52611JAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $652067.39    | 0.27%             | 2030-05-15      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                     | Chase Auto Credit Linked Notes, Series 2025-1, Class B                                    | CUSIP: 46591HCS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    968440 | PA      | $973056.35    | 0.41%             | 2033-02-25      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GA Global Funding Trust                            | GA Global Funding Trust                                                                   | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    390000 | PA      | $380520.85    | 0.16%             | 2027-01-06      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                                                     | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5045000 | PA      | $4944785.11   | 2.07%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| Alaska Airlines Pass-Through Trust                 | Alaska Airlines Pass-Through Trust, Series 2020-1, Class A                                | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    699267 | PA      | $700888.93    | 0.29%             | 2027-08-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                       | ING Groep NV                                                                              | CUSIP: 456837BF9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2125000 | PA      | $2161609.46   | 0.90%             | 2027-09-11      | Variable      | 6.08%                 | No            |                  2 | On Loan: —       |
| Goldman Sachs Bank USA                             | Goldman Sachs Bank USA                                                                    | CUSIP: 38151LAG5<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |    555000 | PA      | $559358.14    | 0.23%             | 2027-05-21      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| COPT Defense Properties LP                         | COPT Defense Properties LP                                                                | CUSIP: 22003BAL0<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    830000 | PA      | $821660.18    | 0.34%             | 2026-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| American Airlines, Inc.                            | American Airlines, Inc.                                                                   | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1095033 | PA      | $1096447.09   | 0.46%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                                       | CUSIP: 91282CKS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14245000 | PA      | $14340750.76  | 5.99%             | 2026-05-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                      | Lendbuzz Securitization Trust, Series 2023-2A, Class A2                                   | CUSIP: 52608MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    141812 | PA      | $144156.40    | 0.06%             | 2028-10-16      | Fixed         | 7.09%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PBW5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2225430.27   | 0.93%             | 2027-02-04      | Variable      | 1.04%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2024-146, Class FE                                                           | CUSIP: 38384W3E3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    952060 | PA      | $956448.41    | 0.40%             | 2064-09-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust, Series 2023-HE3, Class A1                                     | CUSIP: 465985AA7<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |     32941 | PA      | $33110.43     | 0.01%             | 2054-05-20      | Floating      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2023-46, Class FA                                                     | CUSIP: 3136BQLF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    555431 | PA      | $558401.83    | 0.23%             | 2053-10-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class B                                | CUSIP: 02007GZ55<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    950185 | PA      | $966765.37    | 0.40%             | 2032-05-17      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| BPR Trust                                          | BPR Trust, Series 2022-SSP, Class A                                                       | CUSIP: 05602HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201108.62    | 0.08%             | 2039-05-15      | Floating      | 7.15%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                       | BX Commercial Mortgage Trust, Series 2021-VOLT, Class A                                   | CUSIP: 05609VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    193766 | PA      | $193509.38    | 0.08%             | 2036-09-15      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                    | Wingspire Equipment Finance LLC, Series 2024-1A, Class A2                                 | CUSIP: 97415AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     82833 | PA      | $83345.86     | 0.03%             | 2032-09-20      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Blue Owl Asset Leasing Trust LLC                   | Blue Owl Asset Leasing Trust LLC, Series 2024-1A, Class A2                                | CUSIP: 095921AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     56707 | PA      | $56952.70     | 0.02%             | 2029-03-15      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                             | Oportun Issuance Trust, Series 2025-C, Class C                                            | CUSIP: 68378RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    455000 | PA      | $456678.63    | 0.19%             | 2033-07-08      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Brookfield Renewable Partners LP                   | Brookfield Renewable Partners LP                                                          | CUSIP: 11284WX16<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | STIV             | CORP              | BM        |   1100000 | PA      | $1099871.19   | 0.46%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                    | Jefferies Financial Group, Inc.                                                           | CUSIP: 47233WKS7<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1292764.92   | 0.54%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| NRG Energy, Inc.                                   | NRG Energy, Inc.                                                                          | CUSIP: 629377CN0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1616517.86   | 0.68%             | 2025-12-02      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                          | Driven Brands Funding LLC, Series 2020-2A, Class A2                                       | CUSIP: 26209XAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335438 | PA      | $324492.65    | 0.14%             | 2051-01-20      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                              | Delta Air Lines, Inc./SkyMiles IP Ltd.                                                    | CUSIP: 830867AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1216565 | PA      | $1215099.56   | 0.51%             | 2025-10-20      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HAT Holdings I LLC                                 | HAT Holdings I LLC                                                                        | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    395000 | PA      | $411406.54    | 0.17%             | 2027-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                        | Penske Truck Leasing Co. LP                                                               | CUSIP: 709599BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $514906.64    | 0.22%             | 2026-01-29      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                                         | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2785000 | PA      | $2765631.13   | 1.16%             | 2027-06-17      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury 2 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -14 | NC      | $-2103.86     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SERVPRO Master Issuer LLC                          | SERVPRO Master Issuer LLC, Series 2019-1A, Class A2                                       | CUSIP: 817743AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    446745 | PA      | $442677.16    | 0.18%             | 2049-10-25      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Theorem Funding Trust                              | Theorem Funding Trust, Series 2022-3A, Class B                                            | CUSIP: 882925AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    242544 | PA      | $245917.45    | 0.10%             | 2029-04-15      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| Vontier Corp.                                      | Vontier Corp.                                                                             | CUSIP: 928881AB7<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |   2193000 | PA      | $2163053.25   | 0.90%             | 2026-04-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                        | Extended Stay America Trust, Series 2021-ESH, Class A                                     | CUSIP: 30227FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    274065 | PA      | $274277.79    | 0.11%             | 2038-07-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                       | Barclays plc                                                                              | CUSIP: 06738EAP0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    825000 | PA      | $829065.81    | 0.35%             | 2026-05-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                                     | ACM Auto Trust, Series 2025-2A, Class A                                                   | CUSIP: 00161TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    663096 | PA      | $660883.44    | 0.28%             | 2028-06-20      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5556, Class FA                                                       | CUSIP: 3137HMBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1331429 | PA      | $1334051.41   | 0.56%             | 2055-07-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| GA Global Funding Trust                            | GA Global Funding Trust                                                                   | CUSIP: 36143L2A2<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    948000 | PA      | $940437.24    | 0.39%             | 2026-01-15      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Oceanview Mortgage Trust                           | Oceanview Mortgage Trust, Series 2025-3, Class AF1                                        | CUSIP: 67648CAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1818229 | PA      | $1823130.32   | 0.76%             | 2055-05-25      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5391, Class HF                                                       | CUSIP: 3137HBUT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76504 | PA      | $77092.68     | 0.03%             | 2054-03-25      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                           | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    374248 | NS      | $374248.41    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Credit Co. LLC                          | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    830000 | PA      | $829766.35    | 0.35%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: —       |
| Brookfield Renewable Partners LP                   | Brookfield Renewable Partners LP                                                          | CUSIP: 11284WYQ0<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    620000 | PA      | $615955.37    | 0.26%             | 2025-11-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Smithfield Foods, Inc.                             | Smithfield Foods, Inc.                                                                    | CUSIP: 832248AZ1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |   2278000 | PA      | $2263327.72   | 0.95%             | 2027-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                           | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  23048161 | NS      | $23048161.30  | 9.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis Financial Services US Corp.             | Stellantis Financial Services US Corp.                                                    | CUSIP: 85855FAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $509950.06    | 0.21%             | 2028-09-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| BFLD Mortgage Trust                                | BFLD Mortgage Trust, Series 2024-VICT, Class A                                            | CUSIP: 05555VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $663078.17    | 0.28%             | 2041-07-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Continental Resources, Inc.                        | Continental Resources, Inc.                                                               | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1087437.00   | 0.45%             | 2026-11-15      | Fixed         | 2.27%                 | Yes           |                  2 | On Loan: No      |
| United Airlines, Inc.                              | United Airlines, Inc.                                                                     | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1368000 | PA      | $1367075.38   | 0.57%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                  | GLS Auto Select Receivables Trust, Series 2024-1A, Class A2                               | CUSIP: 37988XAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     34154 | PA      | $34413.04     | 0.01%             | 2030-03-15      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Banking Group plc                           | Lloyds Banking Group plc                                                                  | CUSIP: 539439AM1<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1120000 | PA      | $1120279.85   | 0.47%             | 2025-12-10      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                | GS Mortgage-Backed Securities Trust, Series 2025-HE1, Class A1                            | CUSIP: 36272NAA2<br>LEI: 254900RIVK2GCJ08H839 | Long             | ABS-MBS          | CORP              | US        |    546490 | PA      | $551090.34    | 0.23%             | 2055-10-25      | Floating      | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust, Series 2024-RVM1, Class A                                       | CUSIP: 67579FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108399 | PA      | $109919.53    | 0.05%             | 2046-01-22      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| Hexcel Corp.                                       | Hexcel Corp.                                                                              | CUSIP: 428291AN8<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |    475000 | PA      | $473195.62    | 0.20%             | 2027-02-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust, Series 2024-HE2, Class A1                                     | CUSIP: 46593HAA6<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-O            | CORP              | US        |    104053 | PA      | $104130.76    | 0.04%             | 2054-10-20      | Floating      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| Berry Global, Inc.                                 | Berry Global, Inc.                                                                        | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1356000 | PA      | $1356225.76   | 0.57%             | 2026-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| FIGRE Trust                                        | FIGRE Trust, Series 2025-FL1, Class A1                                                    | CUSIP: 31684QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    555577 | PA      | $559613.20    | 0.23%             | 2055-07-25      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Finance US, Inc.                        | Stellantis Finance US, Inc.                                                               | CUSIP: 85855CAA8<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    700000 | PA      | $674516.82    | 0.28%             | 2027-01-29      | Fixed         | 1.71%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                               | Ally Financial, Inc.                                                                      | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1701052.28   | 0.71%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Mercury Financial Credit Card Master Trust         | Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A                       | CUSIP: 58940BAZ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    147000 | PA      | $148194.14    | 0.06%             | 2029-07-20      | Fixed         | 6.56%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2024-36, Class FB                                                     | CUSIP: 3136BR3E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    561220 | PA      | $562657.77    | 0.24%             | 2054-06-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Marex Group plc                                    | Marex Group plc                                                                           | CUSIP: 566539AB8<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |    745000 | PA      | $756030.13    | 0.32%             | 2028-05-08      | Fixed         | 5.83%                 | No            |                  2 | On Loan: —       |
| Dell International LLC                             | Dell International LLC                                                                    | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $251454.26    | 0.11%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                   | CCO Holdings LLC                                                                          | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1093487.67   | 0.46%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| Tricon Residential Trust                           | Tricon Residential Trust, Series 2025-SFR1, Class B                                       | CUSIP: 895974AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $350650.37    | 0.15%             | 2042-03-17      | Floating      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury 5 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -7 | NC      | $1712.15      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lendbuzz Securitization Trust                      | Lendbuzz Securitization Trust, Series 2025-1A, Class A2                                   | CUSIP: 525938AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    163566 | PA      | $163808.04    | 0.07%             | 2030-10-15      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Oscar US Funding XVI LLC                           | Oscar US Funding XVI LLC, Series 2024-1A, Class A2                                        | CUSIP: 68784GAB9<br>LEI: 3538004TGTV49T7RNL88 | Long             | ABS-O            | CORP              | JP        |     56257 | PA      | $56408.63     | 0.02%             | 2027-02-10      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| TX Trust                                           | TX Trust, Series 2024-HOU, Class A                                                        | CUSIP: 90216DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $139954.81    | 0.06%             | 2039-06-15      | Floating      | 5.74%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                          | HCA, Inc.                                                                                 | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    491000 | PA      | $500137.43    | 0.21%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Driven Brands Funding LLC                          | Driven Brands Funding LLC, Series 2019-1A, Class A2                                       | CUSIP: 26208LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1714125 | PA      | $1713912.02   | 0.72%             | 2049-04-20      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                         | Aviation Capital Group LLC                                                                | CUSIP: 05369AAL5<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |   1216000 | PA      | $1188663.14   | 0.50%             | 2026-09-20      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: —       |
| Global Payments, Inc.                              | Global Payments, Inc.                                                                     | CUSIP: 891906AC3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1081281.98   | 0.45%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                   | Boeing Co. (The)                                                                          | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1736966.96   | 0.73%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust                     | HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class A                                 | CUSIP: 40424UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $140406.57    | 0.06%             | 2041-06-15      | Floating      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| PEAC Solutions Receivables LLC                     | PEAC Solutions Receivables LLC, Series 2024-1A, Class A2                                  | CUSIP: 69433BAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    193637 | PA      | $195387.76    | 0.08%             | 2027-06-21      | Fixed         | 5.79%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                          | Driven Brands Funding LLC, Series 2020-1A, Class A2                                       | CUSIP: 26209XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    329974 | PA      | $324386.83    | 0.14%             | 2050-07-20      | Fixed         | 3.79%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                            | FHLMC STACR REMIC Trust, Series 2024-DNA1, Class M1                                       | CUSIP: 35564NAX1<br>LEI: 529900N6M839KA246662 | Long             | ABS-MBS          | CORP              | US        |    273486 | PA      | $274909.10    | 0.11%             | 2044-02-25      | Floating      | 5.71%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                             | Oportun Issuance Trust, Series 2024-1A, Class B                                           | CUSIP: 68377JAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     32423 | PA      | $32434.05     | 0.01%             | 2031-04-08      | Fixed         | 6.55%                 | Yes           |                  2 | On Loan: No      |
| Bank of Ireland Group plc                          | Bank of Ireland Group plc                                                                 | CUSIP: 06279JAB5<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |   2355000 | PA      | $2302191.57   | 0.96%             | 2027-09-30      | Variable      | 2.03%                 | Yes           |                  2 | On Loan: No      |
| U.S. Bancorp                                       | U.S. Bancorp                                                                              | CUSIP: 91159HHM5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    480000 | PA      | $477443.74    | 0.20%             | 2026-04-27      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| AES Corp. (The)                                    | AES Corp. (The)                                                                           | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    918000 | PA      | $909621.96    | 0.38%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                              | DB Master Finance LLC, Series 2017-1A, Class A2II                                         | CUSIP: 233046AF8<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    208125 | PA      | $205979.81    | 0.09%             | 2047-11-20      | Fixed         | 4.03%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5513, Class FA                                                       | CUSIP: 3137HKE42<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1528720 | PA      | $1529650.91   | 0.64%             | 2055-03-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Videotron Ltd.                                     | Videotron Ltd.                                                                            | CUSIP: 92660FAK0<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    356000 | PA      | $356037.71    | 0.15%             | 2027-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                          | Vistra Operations Co. LLC                                                                 | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1032097 | PA      | $1038802.53   | 0.43%             | 2026-12-30      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class C                                | CUSIP: 02007GZ63<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135354 | PA      | $137423.71    | 0.06%             | 2032-05-17      | Fixed         | 6.02%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                     | ACM Auto Trust, Series 2024-2A, Class A                                                   | CUSIP: 00461WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118811 | PA      | $118747.96    | 0.05%             | 2029-02-20      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| RCKT Trust                                         | RCKT Trust, Series 2025-1A, Class A                                                       | CUSIP: 74939RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1900955 | PA      | $1905624.68   | 0.80%             | 2034-07-25      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2025-139, Class FE                                                           | CUSIP: 38381QF71<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1104294 | PA      | $1106564.08   | 0.46%             | 2065-08-20      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                            | FHLMC STACR REMIC Trust, Series 2024-HQA1, Class A1                                       | CUSIP: 35564NBW2<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |    175079 | PA      | $176252.11    | 0.07%             | 2044-03-25      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| Pagaya Ai Debt Grantor Trust                       | Pagaya Ai Debt Grantor Trust, Series 2024-9, Class A                                      | CUSIP: 69546QAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     82962 | PA      | $83216.39     | 0.03%             | 2032-03-15      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance Floating-Rate ETF                      | Eaton Vance Floating-Rate ETF                                                             | CUSIP: 61774R833<br>LEI: 254900BDISIY9SGE8S56 | Long             |  | RF                | US        |     15000 | NS      | $745050.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese US Holdings LLC                           | Celanese US Holdings LLC                                                                  | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    900000 | PA      | $872610.03    | 0.36%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: —       |
| HAT Holdings I LLC                                 | HAT Holdings I LLC                                                                        | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1853000 | PA      | $1835306.35   | 0.77%             | 2026-06-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                      | MHC Commercial Mortgage Trust, Series 2021-MHC, Class A                                   | CUSIP: 55316VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     27763 | PA      | $27773.00     | 0.01%             | 2038-04-15      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Radnor Re Ltd.                                     | Radnor Re Ltd., Series 2023-1, Class M1A                                                  | CUSIP: 75050KAA4<br>LEI: 254900P3K895250PCC81 | Long             | ABS-MBS          | CORP              | BM        |    444916 | PA      | $447461.73    | 0.19%             | 2033-07-25      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank Auto Credit-Linked Notes               | Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B                              | CUSIP: 897926CB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    979459 | PA      | $981386.58    | 0.41%             | 2033-09-26      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                             | Oportun Issuance Trust, Series 2021-B, Class B                                            | CUSIP: 68377GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    363492 | PA      | $356637.56    | 0.15%             | 2031-05-08      | Fixed         | 1.96%                 | Yes           |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                   | SoFi Consumer Loan Program Trust, Series 2025-1, Class A                                  | CUSIP: 83406YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    523968 | PA      | $526733.98    | 0.22%             | 2034-02-27      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                     | Enterprise Fleet Financing LLC, Series 2024-2, Class A2                                   | CUSIP: 29375RAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75290 | PA      | $75665.40     | 0.03%             | 2026-12-20      | Fixed         | 5.74%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG                                                                              | CUSIP: 902613AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    372000 | PA      | $373340.44    | 0.16%             | 2027-01-12      | Variable      | 5.71%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                | Societe Generale SA                                                                       | CUSIP: 83368RBV3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $506795.03    | 0.21%             | 2028-01-19      | Variable      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                   | OneMain Financial Issuance Trust, Series 2022-S1, Class A                                 | CUSIP: 68267HAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2561512 | PA      | $2559462.14   | 1.07%             | 2035-05-14      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Citadel LP                                         | Citadel LP                                                                                | CUSIP: 17288XAB0<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |   1008000 | PA      | $1010366.50   | 0.42%             | 2027-01-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                                                   | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1048000 | PA      | $1057406.45   | 0.44%             | 2027-06-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                          | Auxilior Term Funding LLC, Series 2024-1A, Class A2                                       | CUSIP: 05335FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285849 | PA      | $287184.59    | 0.12%             | 2027-03-15      | Fixed         | 5.84%                 | Yes           |                  2 | On Loan: No      |
| Sprint LLC                                         | Sprint LLC                                                                                | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    480000 | PA      | $481083.79    | 0.20%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2024-33, Class KF                                                     | CUSIP: 3136BSFC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    261117 | PA      | $262119.18    | 0.11%             | 2054-01-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PBT2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3768000 | PA      | $3751281.08   | 1.57%             | 2026-11-19      | Variable      | 1.04%                 | No            |                  2 | On Loan: No      |
| Theorem Funding Trust                              | Theorem Funding Trust, Series 2022-2A, Class B                                            | CUSIP: 88339FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     81394 | PA      | $81777.88     | 0.03%             | 2028-12-15      | Fixed         | 9.27%                 | Yes           |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                  | Algonquin Power & Utilities Corp.                                                         | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   1642000 | PA      | $1654178.70   | 0.69%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.        | HA Sustainable Infrastructure Capital, Inc.                                               | CUSIP: 40460JXE2<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | STIV             | CORP              | US        |   1175000 | PA      | $1172649.06   | 0.49%             | 2025-10-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Reach Abs Trust                                    | Reach Abs Trust, Series 2024-1A, Class A                                                  | CUSIP: 75526PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22286 | PA      | $22318.33     | 0.01%             | 2031-02-18      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                   | Deutsche Bank AG                                                                          | CUSIP: 251526CE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $1992765.58   | 0.83%             | 2026-11-24      | Variable      | 2.13%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                       | CaixaBank SA                                                                              | CUSIP: 12803RAB0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   1990000 | PA      | $2033605.04   | 0.85%             | 2027-09-13      | Variable      | 6.68%                 | Yes           |                  2 | On Loan: —       |
| National Bank of Canada                            | National Bank of Canada                                                                   | CUSIP: 63307A3G8<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   1542000 | PA      | $1544359.69   | 0.65%             | 2027-03-05      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| GWT                                                | GWT, Series 2024-WLF2, Class A                                                            | CUSIP: 362414AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $541726.54    | 0.23%             | 2041-05-15      | Floating      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| Oscar US Funding XVII LLC                          | Oscar US Funding XVII LLC, Series 2024-2A, Class A2                                       | CUSIP: 68784BAB0<br>LEI: 353800UI8625NXT7ND41 | Long             | ABS-O            | CORP              | JP        |    146536 | PA      | $146620.01    | 0.06%             | 2027-12-10      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5451, Class FA                                                       | CUSIP: 3137HFL60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1181885 | PA      | $1184185.53   | 0.49%             | 2054-09-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Kyndryl Holdings, Inc.                             | Kyndryl Holdings, Inc.                                                                    | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1084475.98   | 0.45%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Wachovia Corp.                                     | Wachovia Corp.                                                                            | CUSIP: 929771AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1055000.00   | 0.44%             | 2025-10-01      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| Tricon Residential Trust                           | Tricon Residential Trust, Series 2025-SFR1, Class C                                       | CUSIP: 895974AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $280738.30    | 0.12%             | 2042-03-17      | Floating      | 5.74%                 | Yes           |                  2 | On Loan: No      |
| RCKT Trust                                         | RCKT Trust, Series 2025-1A, Class B                                                       | CUSIP: 74939RAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1105294.19   | 0.46%             | 2034-07-25      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Theorem Funding Trust                              | Theorem Funding Trust, Series 2023-1A, Class A                                            | CUSIP: 88338QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    278979 | PA      | $279304.79    | 0.12%             | 2029-04-15      | Fixed         | 7.58%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2025-31, Class FB                                                     | CUSIP: 3136BVYK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    302862 | PA      | $303398.37    | 0.13%             | 2054-06-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                 | Banco Santander SA                                                                        | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2200000 | PA      | $2197191.68   | 0.92%             | 2028-03-24      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC            | Volkswagen Group of America Finance LLC                                                   | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    750000 | PA      | $752078.29    | 0.31%             | 2027-09-11      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Fortitude Global Funding                           | Fortitude Global Funding                                                                  | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    840000 | PA      | $840981.39    | 0.35%             | 2028-10-06      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Citadel Finance LLC                                | Citadel Finance LLC                                                                       | CUSIP: 17287HAA8<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1381027.97   | 0.58%             | 2026-03-09      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: —       |
| Octane Receivables Trust                           | Octane Receivables Trust, Series 2024-2A, Class A2                                        | CUSIP: 67578YAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    163902 | PA      | $165429.37    | 0.07%             | 2032-07-20      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| NMEF Funding LLC                                   | NMEF Funding LLC, Series 2025-A, Class A2                                                 | CUSIP: 62919VAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1319707 | PA      | $1326305.39   | 0.55%             | 2032-07-15      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, Strips, Series 406, Class F12                                                      | CUSIP: 3133Q3GP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    391304 | PA      | $393683.79    | 0.16%             | 2053-10-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2024-197, Class GF                                                           | CUSIP: 38385BAP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    402193 | PA      | $402721.99    | 0.17%             | 2054-12-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| SBL Holdings, Inc.                                 | SBL Holdings, Inc.                                                                        | CUSIP: 78432MAA3<br>LEI: 635400MJW3QDSBJRKQ59 | Long             | DBT              | CORP              | US        |    790000 | PA      | $796810.10    | 0.33%             | 2026-11-13      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| Extended Stay America Trust                        | Extended Stay America Trust, Series 2021-ESH, Class C                                     | CUSIP: 30227FAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84328 | PA      | $84409.42     | 0.04%             | 2038-07-15      | Floating      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| Fifth Third Bank NA                                | Fifth Third Bank NA                                                                       | CUSIP: 31677AAB0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |    480000 | PA      | $479171.21    | 0.20%             | 2026-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Prodigy Finance DAC                                | Prodigy Finance DAC, Series 2021-1A, Class A                                              | CUSIP: 742855AA7<br>LEI: 635400HTAZNW3LYYMQ40 | Long             | ABS-O            | CORP              | IE        |    701599 | PA      | $701618.31    | 0.29%             | 2051-07-25      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Reach ABS Trust                                    | Reach ABS Trust, Series 2025-1A, Class A                                                  | CUSIP: 75525PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    418046 | PA      | $419299.04    | 0.18%             | 2032-08-16      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Athene Global Funding                              | Athene Global Funding                                                                     | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    679000 | PA      | $683603.35    | 0.29%             | 2026-08-27      | Fixed         | 4.86%                 | Yes           |                  2 | On Loan: No      |
| PNC Bank NA                                        | PNC Bank NA                                                                               | CUSIP: 69353RFX1<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1061373.23   | 0.44%             | 2027-01-15      | Variable      | 4.78%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                            | BPCE SA                                                                                   | CUSIP: 05578AAP3<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $495021.52    | 0.21%             | 2026-01-20      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Oportun Funding Trust                              | Oportun Funding Trust, Series 2024-3, Class A                                             | CUSIP: 68377NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    124246 | PA      | $124358.32    | 0.05%             | 2029-08-15      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Wendy's Funding LLC                                | Wendy's Funding LLC, Series 2019-1A, Class A2I                                            | CUSIP: 95058XAG3<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |    511775 | PA      | $508959.57    | 0.21%             | 2049-06-15      | Fixed         | 3.78%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG                                                                              | CUSIP: 225401AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $297027.81    | 0.12%             | 2027-02-02      | Variable      | 1.30%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                    | Goldman Sachs Group, Inc. (The)                                                           | CUSIP: 38141GXM1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4225000 | PA      | $4198811.04   | 1.75%             | 2026-12-09      | Variable      | 1.09%                 | No            |                  2 | On Loan: No      |
| American National Group, Inc.                      | American National Group, Inc.                                                             | CUSIP: 025676AM9<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   1645000 | PA      | $1659449.61   | 0.69%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHF Issuer Trust                                   | FHF Issuer Trust, Series 2023-2A, Class A2                                                | CUSIP: 30333LAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     70486 | PA      | $71375.40     | 0.03%             | 2029-10-15      | Fixed         | 6.79%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                              | DB Master Finance LLC, Series 2019-1A, Class A2II                                         | CUSIP: 233046AK7<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    314900 | PA      | $313874.53    | 0.13%             | 2049-05-20      | Fixed         | 4.02%                 | Yes           |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust           | Research-Driven Pagaya Motor Asset Trust, Series 2025-1A, Class A                         | CUSIP: 76089YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    801389 | PA      | $805935.30    | 0.34%             | 2033-06-27      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| EQT Corp.                                          | EQT Corp.                                                                                 | CUSIP: 26884LAT6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    869000 | PA      | $889856.39    | 0.37%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US Bank NA                                         | US Bank NA                                                                                | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |    570000 | PA      | $575132.06    | 0.24%             | 2028-05-15      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Grantor Trust                       | Pagaya AI Debt Grantor Trust, Series 2025-1, Class A2                                     | CUSIP: 69544NAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    403706 | PA      | $407533.80    | 0.17%             | 2032-07-15      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Cajun Global LLC                                   | Cajun Global LLC, Series 2021-1, Class A2                                                 | CUSIP: 12803VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    618888 | PA      | $610939.68    | 0.26%             | 2051-11-20      | Fixed         | 3.93%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5410, Class FE                                                       | CUSIP: 3137HCV82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    165552 | PA      | $166356.13    | 0.07%             | 2054-05-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                          | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1517154.17   | 0.63%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Oportun Funding Trust                              | Oportun Funding Trust, Series 2024-3, Class B                                             | CUSIP: 68377NAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150440.36    | 0.06%             | 2029-08-15      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                       | BX Commercial Mortgage Trust, Series 2022-CSMO, Class A                                   | CUSIP: 05610MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    415000 | PA      | $417756.85    | 0.17%             | 2027-06-15      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                          | HCA, Inc.                                                                                 | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    725000 | PA      | $728224.51    | 0.30%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Crossroads Asset Trust                             | Crossroads Asset Trust, Series 2025-A, Class A2                                           | CUSIP: 22767VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2150000 | PA      | $2164808.77   | 0.90%             | 2032-02-20      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| Radian Group, Inc.                                 | Radian Group, Inc.                                                                        | CUSIP: 750236AW1<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1304035.80   | 0.54%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                        | Swedbank AB                                                                               | CUSIP: 87020PAX5<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    700000 | PA      | $713295.39    | 0.30%             | 2026-09-12      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS Trust                                     | ACHV ABS Trust, Series 2024-3AL, Class B                                                  | CUSIP: 00092KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     74321 | PA      | $75069.80     | 0.03%             | 2031-12-26      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

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

**Signature:** Francis J. Smith

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

**Title:** Principal Financial Officer