# EDGAR Filing Document

**Accession Number:** 0001981627
**File Stem:** 0001752724-25-205899
**Filing Date:** 2025-8
**Character Count:** 54241
**Document Hash:** fe7c73f01f045d7f6f067a2d173d31b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-205899.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-205899

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 2023 ETF Series Trust II
- **CENTRAL INDEX KEY:** 0001981627

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23895
- **FILM NUMBER:** 251257026

**BUSINESS ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA
- **STREET 2:** SUITE 100
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 212-309-6231

**MAIL ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA
- **STREET 2:** SUITE 100
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

## Series and Classes Contracts Data

### GMO Systematic Investment Grade Credit ETF (Series ID: S000088550)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000254842 | GMO Systematic Investment Grade Credit ETF | INVG            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** 2023 ETF Series Trust II

- **b. Investment Company Act file number:** 811-23895

- **c. CIK number of Registrant:** 0001981627

- **d. LEI of Registrant:** 5299001GULBDPKO8HM33

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

  - **Street Address 1:** Three Canal Plaza

  - **City:** Portland

  - **State:** ME

  - **Foreign country:** US

  - **Zip / Postal Code:** 04101

  - **Telephone number:** 614-416-9058

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

- **a. Name of Series:** GMO Systematic Investment Grade Credit ETF

- **b. EDGAR series identifier (if any):** S000088550

- **c. LEI of Series:** 52990090VBSWJKNRAL31

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $6381918.27

**Total Liabilities:** $1114.63

**Net Assets:** $6380803.64

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -7.33000000 | **1-Year:** -332.24000000 | **5-Year:** -1276.88000000 | **10-Year:** -1712.16000000 | **30-Year:** -951.91000000

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

- **3-Month:** -0.13000000 | **1-Year:** -2.46000000 | **5-Year:** -23.51000000 | **10-Year:** -40.11000000 | **30-Year:** -34.84000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254842 |  |  | 2.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $108985.21                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SANTANDER HOLDINGS USA       | Santander Holdings USA Inc                                            | CUSIP: 80282KBQ8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51327.49     | 0.80%             | 2031-03-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC              | Marex Group PLC                                                       | CUSIP: 566539AA0<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $51467.60     | 0.81%             | 2029-11-04      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC         | Verisk Analytics Inc                                                  | CUSIP: 92345YAH9<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52579.13     | 0.82%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                   | 3M Co                                                                 | CUSIP: 88579YAY7<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48565.74     | 0.76%             | 2027-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP       | Bank of New York Mellon Corp/The                                      | CUSIP: 06406RBU0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     50000 | PA      | $55058.61     | 0.86%             | 2034-10-25      | Fixed         | 6.47%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp             | BAT Capital Corp                                                      | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     75000 | PA      | $60586.65     | 0.95%             | 2047-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC       | Philip Morris International Inc                                       | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51635.83     | 0.81%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                   | VMware LLC                                                            | CUSIP: 928563AF2<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50198.50     | 0.79%             | 2030-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors | State Street Institutional Treasury Money Market Fund                 | CUSIP: 857492870<br>LEI: 549300Q3FHSMZ70NLT76 | Long             | STIV             | RF                | US        |     62669 | NS      | $62668.68     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC      | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GWL4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49289.29     | 0.77%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                   | 3M Co                                                                 | CUSIP: 88579YBG5<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48449.75     | 0.76%             | 2029-03-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC             | Altria Group Inc                                                      | CUSIP: 02209SBM4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     75000 | PA      | $55636.70     | 0.87%             | 2041-02-04      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP               | Microsoft Corp                                                        | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |     25000 | PA      | $15449.22     | 0.24%             | 2050-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC      | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24650.93     | 0.39%             | 2028-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP      | Sun Communities Operating LP                                          | CUSIP: 866677AH0<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              |  | US        |     50000 | PA      | $47312.42     | 0.74%             | 2032-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| RTX CORP                     | RTX Corp                                                              | CUSIP: 75513ECH2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74096.82     | 1.16%             | 2027-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL             | Bank of Montreal                                                      | CUSIP: 06368L8K5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50114.77     | 0.79%             | 2027-09-10      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                 | Broadcom Inc                                                          | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48526.20     | 0.76%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| SYSTEM ENERGY RESOURCES      | System Energy Resources Inc                                           | CUSIP: 871911AV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49413.89     | 0.77%             | 2034-12-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC               | Mastercard Inc                                                        | CUSIP: 57636QAZ7<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50598.79     | 0.79%             | 2034-05-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC         | Howmet Aerospace Inc                                                  | CUSIP: 443201AC2<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50636.00     | 0.79%             | 2031-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| JOHNSON CONTROLS/TYCO FI     | Johnson Controls International plc / Tyco Fire & Security Finance SCA | CUSIP: 47837RAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     50000 | PA      | $50258.96     | 0.79%             | 2032-12-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JACOBS ENGINEERING GROUP     | Jacobs Engineering Group Inc                                          | CUSIP: 469814AA5<br>LEI: 549300CZ8QS1GE53O776 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52029.84     | 0.82%             | 2033-03-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                  | Paychex Inc                                                           | CUSIP: 704326AB3<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51342.29     | 0.80%             | 2032-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON     | CenterPoint Energy Houston Electric LLC                               | CUSIP: 15189XBD9<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51543.41     | 0.81%             | 2028-10-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                   | Hasbro Inc                                                            | CUSIP: 418056BA4<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51564.87     | 0.81%             | 2034-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS INC       | Darden Restaurants Inc                                                | CUSIP: 237194AN5<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53581.27     | 0.84%             | 2033-10-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF     | Take-Two Interactive Software Inc                                     | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49506.13     | 0.78%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC         | Kyndryl Holdings Inc                                                  | CUSIP: 50155QAL4<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45155.26     | 0.71%             | 2031-10-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO          | American Express Co                                                   | CUSIP: 025816EH8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51776.45     | 0.81%             | 2036-04-25      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| KROGER CO                    | Kroger Co/The                                                         | CUSIP: 501044DX6<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47331.87     | 0.74%             | 2064-09-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| TAPESTRY INC                 | Tapestry Inc                                                          | CUSIP: 876030AK3<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50650.52     | 0.79%             | 2030-03-11      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR     | Anheuser-Busch InBev Worldwide Inc                                    | CUSIP: 035240AG5<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47168.42     | 0.74%             | 2042-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TAPESTRY INC                 | Tapestry Inc                                                          | CUSIP: 876030AL1<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50193.51     | 0.79%             | 2035-03-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO          | American Express Co                                                   | CUSIP: 025816DW6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50617.81     | 0.79%             | 2035-07-26      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| VISA INC                     | Visa Inc                                                              | CUSIP: 92826CAM4<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22757.24     | 0.36%             | 2030-04-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                     | AT&T Inc                                                              | CUSIP: 00206RDK5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41354.84     | 0.65%             | 2049-03-09      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| HCA INC                      | HCA Inc                                                               | CUSIP: 404119CW7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48760.22     | 0.76%             | 2064-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO         | National Fuel Gas Co                                                  | CUSIP: 636180BU4<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51108.21     | 0.80%             | 2035-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD     | Aptiv Swiss Holdings Ltd                                              | CUSIP: 03835VAJ5<br>LEI: 254900HTTDFIJZ32GX53 | Long             | DBT              | CORP              | JE        |    100000 | PA      | $60101.80     | 0.94%             | 2051-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA       | Santander Holdings USA Inc                                            | CUSIP: 80282KBL9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52213.27     | 0.82%             | 2035-05-31      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP       | Bank of New York Mellon Corp/The                                      | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53030.53     | 0.83%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                   | VMware LLC                                                            | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46258.56     | 0.72%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL             | Bank of Montreal                                                      | CUSIP: 06368L3L8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $52280.90     | 0.82%             | 2031-06-04      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV      | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc           | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48787.49     | 0.76%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                  | Netflix Inc                                                           | CUSIP: 64110LAX4<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53812.66     | 0.84%             | 2029-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS     | South Bow USA Infrastructure Holdings LLC                             | CUSIP: 83007CAG7<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47517.16     | 0.74%             | 2054-10-01      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                 | VeriSign Inc                                                          | CUSIP: 92343EAM4<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44805.07     | 0.70%             | 2031-06-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA          | Bank of Nova Scotia/The                                               | CUSIP: 06418GAQ0<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50914.47     | 0.80%             | 2031-02-14      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO         | National Fuel Gas Co                                                  | CUSIP: 636180BT7<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51386.21     | 0.81%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF     | Take-Two Interactive Software Inc                                     | CUSIP: 874054AK5<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50771.05     | 0.80%             | 2028-03-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN     | Brighthouse Financial Inc                                             | CUSIP: 10922NAF0<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $57449.32     | 0.90%             | 2047-06-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC          | Cardinal Health Inc                                                   | CUSIP: 14149YBT4<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49282.52     | 0.77%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP              | Concentrix Corp                                                       | CUSIP: 20602DAC5<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52003.07     | 0.81%             | 2033-08-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| MPLX LP                      | MPLX LP                                                               | CUSIP: 55336VAT7<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45145.94     | 0.71%             | 2049-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Visa Inc                     | Visa Inc                                                              | CUSIP: 92826CAF9<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43463.73     | 0.68%             | 2045-12-14      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp         | Westpac Banking Corp                                                  | CUSIP: 961214DK6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |     50000 | PA      | $49432.19     | 0.77%             | 2027-03-08      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| EBAY INC                     | eBay Inc                                                              | CUSIP: 278642AZ6<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |     25000 | PA      | $18060.16     | 0.28%             | 2051-05-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC           | Smith & Nephew PLC                                                    | CUSIP: 83192PAA6<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |     75000 | PA      | $65686.61     | 1.03%             | 2030-10-14      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP         | Westpac Banking Corp                                                  | CUSIP: 961214FK4<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |     50000 | PA      | $51577.71     | 0.81%             | 2027-11-18      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| ENTERGY LOUISIANA LLC        | Entergy Louisiana LLC                                                 | CUSIP: 29364WBM9<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51286.67     | 0.80%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP          | FS KKR Capital Corp                                                   | CUSIP: 302635AN7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51274.04     | 0.80%             | 2029-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC         | Kyndryl Holdings Inc                                                  | CUSIP: 50155QAN0<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53416.80     | 0.84%             | 2034-02-20      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN     | Brighthouse Financial Inc                                             | CUSIP: 10922NAG8<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25636.37     | 0.40%             | 2030-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC       | Philip Morris International Inc                                       | CUSIP: 718172DJ5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50996.93     | 0.80%             | 2034-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KROGER CO                    | Kroger Co/The                                                         | CUSIP: 501044DG3<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     75000 | PA      | $62204.35     | 0.97%             | 2047-02-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL             | Paramount Global                                                      | CUSIP: 92556HAC1<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     75000 | PA      | $57378.75     | 0.90%             | 2050-05-19      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                 | Broadcom Inc                                                          | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72250.67     | 1.13%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP          | Charles Schwab Corp/The                                               | CUSIP: 808513CE3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53115.56     | 0.83%             | 2034-05-19      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                | Citigroup Inc                                                         | CUSIP: 172967LP4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24609.33     | 0.39%             | 2028-07-24      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| MPLX LP                      | MPLX LP                                                               | CUSIP: 55336VAN0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     75000 | PA      | $60845.86     | 0.95%             | 2048-04-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| RTX CORP                     | RTX Corp                                                              | CUSIP: 75513ECW9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     50000 | PA      | $54055.54     | 0.85%             | 2034-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS     | South Bow USA Infrastructure Holdings LLC                             | CUSIP: 83007CAE2<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49473.00     | 0.78%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Emera US Finance LP          | Emera US Finance LP                                                   | CUSIP: 29103DAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $41570.15     | 0.65%             | 2046-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP            | CI Financial Corp                                                     | CUSIP: 125491AN0<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $44110.93     | 0.69%             | 2030-12-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FOX CORP                     | Fox Corp                                                              | CUSIP: 35137LAJ4<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48936.10     | 0.77%             | 2039-01-25      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc             | Altria Group Inc                                                      | CUSIP: 02209SAV5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     75000 | PA      | $55468.91     | 0.87%             | 2046-09-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC          | Cardinal Health Inc                                                   | CUSIP: 14149YBP2<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51449.23     | 0.81%             | 2034-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE             | Coca-Cola Co/The                                                      | CUSIP: 191216DZ0<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47866.39     | 0.75%             | 2055-01-14      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HEICO CORP                   | HEICO Corp                                                            | CUSIP: 422806AB5<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51173.04     | 0.80%             | 2033-08-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD     | Aptiv Swiss Holdings Ltd                                              | CUSIP: 00217GAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |     75000 | PA      | $53740.27     | 0.84%             | 2052-05-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK        | Toronto-Dominion Bank/The                                             | CUSIP: 89114TZV7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $45450.92     | 0.71%             | 2032-03-10      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC              | Marex Group PLC                                                       | CUSIP: 566539AB8<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $50647.79     | 0.79%             | 2028-05-08      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC          | Gilead Sciences Inc                                                   | CUSIP: 375558BT9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     25000 | PA      | $15715.84     | 0.25%             | 2050-10-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON CORP           | First Horizon Corp                                                    | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50720.47     | 0.79%             | 2031-03-07      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                  | Nutrien Ltd                                                           | CUSIP: 67077MBF4<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50987.93     | 0.80%             | 2032-03-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO          | JPMorgan Chase & Co                                                   | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50521.25     | 0.79%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co          | JPMorgan Chase & Co                                                   | CUSIP: 46647PAX4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50093.81     | 0.79%             | 2029-12-05      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| EQT CORP                     | EQT Corp                                                              | CUSIP: 26884LAY5<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51574.73     | 0.81%             | 2029-04-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                 | VeriSign Inc                                                          | CUSIP: 92343EAQ5<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50955.78     | 0.80%             | 2032-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Corning Inc                  | Corning Inc                                                           | CUSIP: 219350BK0<br>LEI: 549300X2937PB0CJ7I56 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70592.19     | 1.11%             | 2048-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC       | Equitable Holdings Inc                                                | CUSIP: 054561AM7<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |     75000 | PA      | $66150.48     | 1.04%             | 2048-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC       | Williams Cos Inc/The                                                  | CUSIP: 88339WAB2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25345.03     | 0.40%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC               | Mastercard Inc                                                        | CUSIP: 57636QBB9<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49789.37     | 0.78%             | 2032-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                  | Netflix Inc                                                           | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51047.34     | 0.80%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                   | Hasbro Inc                                                            | CUSIP: 418056AZ0<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48213.42     | 0.76%             | 2029-11-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP          | FS KKR Capital Corp                                                   | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45850.12     | 0.72%             | 2028-10-12      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA          | Bank of Nova Scotia/The                                               | CUSIP: 06418GAP2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50646.42     | 0.79%             | 2029-02-14      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP          | American Tower Corp                                                   | CUSIP: 03027XAX8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     75000 | PA      | $73215.16     | 1.15%             | 2027-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC         | Verisk Analytics Inc                                                  | CUSIP: 92345YAL0<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50283.18     | 0.79%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JOHNSON CONTROLS/TYCO FI     | Johnson Controls International plc / Tyco Fire & Security Finance SCA | CUSIP: 477921AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     50000 | PA      | $51854.80     | 0.81%             | 2029-04-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP             | BAT Capital Corp                                                      | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     50000 | PA      | $55068.74     | 0.86%             | 2043-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO     | Capital One Financial Corp                                            | CUSIP: 14040HDA0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53230.17     | 0.83%             | 2034-06-08      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON     | CenterPoint Energy Houston Electric LLC                               | CUSIP: 15189XBB3<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50203.61     | 0.79%             | 2033-04-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC           | Smith & Nephew PLC                                                    | CUSIP: 83192PAD0<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |     50000 | PA      | $50712.35     | 0.79%             | 2034-03-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                   | MasTec Inc                                                            | CUSIP: 576323AT6<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51719.80     | 0.81%             | 2029-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BOEING CO                    | Boeing Co/The                                                         | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47528.10     | 0.74%             | 2060-05-01      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK       | Canadian Imperial Bank of Commerce                                    | CUSIP: 13607PHS6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $75008.61     | 1.18%             | 2030-09-11      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                | Boeing Co/The                                                         | CUSIP: 097023DU6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     50000 | PA      | $54917.35     | 0.86%             | 2064-05-01      | Fixed         | 7.01%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                  | Cencora Inc                                                           | CUSIP: 03073EAP0<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49070.87     | 0.77%             | 2027-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc          | Gilead Sciences Inc                                                   | CUSIP: 375558BD4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22378.15     | 0.35%             | 2046-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                  | Cencora Inc                                                           | CUSIP: 03073EAW5<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50791.08     | 0.80%             | 2029-12-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL             | Paramount Global                                                      | CUSIP: 92556HAD9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45634.96     | 0.72%             | 2032-05-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO     | Capital One Financial Corp                                            | CUSIP: 254709AT5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $58119.43     | 0.91%             | 2034-11-02      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC       | Williams Cos Inc/The                                                  | CUSIP: 88339WAC0<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49885.12     | 0.78%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                  | Paychex Inc                                                           | CUSIP: 704326AA5<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51209.00     | 0.80%             | 2030-04-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP          | American Tower Corp                                                   | CUSIP: 03027XBV1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     50000 | PA      | $49387.45     | 0.77%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE             | Coca-Cola Co/The                                                      | CUSIP: 191216DT4<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48777.72     | 0.76%             | 2064-05-13      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                     | AT&T Inc                                                              | CUSIP: 00206RFU1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44973.42     | 0.70%             | 2050-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FOX CORP                     | Fox Corp                                                              | CUSIP: 35137LAK1<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46914.38     | 0.74%             | 2049-01-25      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC         | Howmet Aerospace Inc                                                  | CUSIP: 443201AB4<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47779.01     | 0.75%             | 2029-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK        | Toronto-Dominion Bank/The                                             | CUSIP: 89115A3G5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $51315.39     | 0.80%             | 2032-01-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP          | Dollar General Corp                                                   | CUSIP: 256677AN5<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50986.94     | 0.80%             | 2028-07-05      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HCA INC                      | HCA Inc                                                               | CUSIP: 404119BZ1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22208.99     | 0.35%             | 2049-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORP                | McKesson Corp                                                         | CUSIP: 581557BV6<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74896.19     | 1.17%             | 2029-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP          | Charles Schwab Corp/The                                               | CUSIP: 808513CH6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     50000 | PA      | $54098.96     | 0.85%             | 2034-08-24      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL       | American International Group Inc                                      | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25638.08     | 0.40%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-01

**Name of Applicant:** 2023 ETF Series Trust II

**Signature:** Betty Maganzini

**Name of Signer:** Betty Maganzini

**Title:** Treasurer