# EDGAR Filing Document

**Accession Number:** 0002043390
**File Stem:** 0002000324-26-000723
**Filing Date:** 2026-2
**Character Count:** 95917
**Document Hash:** 6385402cfe436a949ef7cfd9aa52e603
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000723.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002000324-26-000723

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust IV
- **CENTRAL INDEX KEY:** 0002043390

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24061
- **FILM NUMBER:** 26693562

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **BUSINESS PHONE:** 855-832-2534

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI

## Series and Classes Contracts Data

### Voya Ultra Short Income ETF (Series ID: S000096085)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000264872 | Voya Ultra Short Income ETF |  |

## Nport-Ex

**Voya Ultra Short Income ETF**

**Schedule of Investments**

**December 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 44.0%** | **Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount** | **Value** |
| 720 East CLO Ltd., Series 2023-IA, Class A1R | 5.26% | 04/15/2038 | $500000 | $501723 |
| AGL Core CLO Ltd., Series 2025-38A, Class A1 | 5.09% | 01/22/2038 | 500000 | 500494 |
| AmeriCredit Automobile Receivables Trust, Series 2025-1, Class A2A | 4.14% | 03/19/2029 | 500000 | 501137 |
| Arbor Realty Commercial Real Estate Notes LLC, Series 2025-FL1, Class A | 5.08% | 01/20/2043 | 320000 | 320269 |
| AREIT, Series 2025-CRE11, Class A | 5.54% | 07/25/2043 | 500000 | 501249 |
| ARES1, Series 2024-IND2, Class A | 5.18% | 10/15/2034 | 450000 | 450830 |
| Bain Capital Credit CLO Ltd., Series 2017-2A, Class A1R3 | 5.25% | 07/25/2037 | 415000 | 415980 |
| Bain Capital Credit CLO Ltd., Series 2020-5A, Class ARR | 5.03% | 04/20/2034 | 250000 | 250299 |
| Ballyrock CLO Ltd., Series 2024-22A, Class A1A | 5.43% | 04/15/2037 | 500000 | 501370 |
| BBCMS Mortgage Trust, Series 2017-C1, Class A4 | 3.74% | 02/15/2050 | 500000 | 495126 |
| BBCMS Mortgage Trust, Series 2022-C16, Class A5<sup>(a)</sup> | 4.62% | 06/15/2055 | 500000 | 498159 |
| BDS LLC, Series 2025-FL16, Class A | 5.39% | 07/19/2043 | 500000 | 500626 |
| Benefit Street Partners CLO XV Ltd., Series 2018-15A, Class A1R | 5.28% | 07/15/2037 | 492500 | 493881 |
| Benefit Street Partners CLO XXIX Ltd., Series 2022-29A, Class AR | 5.04% | 01/25/2038 | 500000 | 499629 |
| BlueMountain CLO XXVIII Ltd., Series 2021-28A, Class A1R | 5.28% | 03/31/2038 | 500000 | 502498 |
| BOCA Commercial Mortgage Trust, Series 2025-BOCA, Class A | 5.44% | 12/15/2042 | 750000 | 751874 |
| BRAVO Residential Funding Trust, Series 2025-NQM4, Class A1 | 5.54% | 02/25/2065 | 831388 | 840911 |
| BSPRT Issuer LLC, Series 2025-FL12, Class A | 5.11% | 01/17/2043 | 500000 | 500766 |
| BX Trust, Series 2025-DELC, Class A | 5.49% | 12/15/2042 | 500000 | 501457 |
| BX Trust, Series 2021-SDMF, Class B | 4.62% | 09/15/2034 | 510387 | 508681 |
| BX Trust, Series 2025-ARIA, Class C<sup>(a)</sup> | 5.46% | 12/13/2042 | 500000 | 504798 |
| Carlyle US CLO Ltd., Series 2021-9A, Class AR | 4.99% | 10/20/2034 | 250000 | 250076 |
| Carlyle US CLO Ltd., Series 2020-2A, Class A1R2 | 4.93% | 01/25/2035 | 500000 | 500492 |
| Carlyle US CLO Ltd., Series 2017-3A, Class A1R2 | 5.26% | 10/21/2037 | 500000 | 500916 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4<sup>(a)</sup> | 5.96% | 06/25/2055 | 832126 | 837526 |
| CIFC Funding 2021-VII Ltd., Series 2021-7A, Class AR | 4.95% | 01/23/2035 | 490000 | 490151 |
| CIFC Funding 2022-IV Ltd., Series 2022-4A, Class AR | 4.99% | 07/16/2035 | 250000 | 249923 |
| Citigroup Commercial Mortgage Trust, Series 2017-P8, Class AS<sup>(a)</sup> | 4.01% | 09/15/2050 | 500000 | 472142 |
| Connecticut Avenue Securities Trust, Series 2022-R03, Class 1M2 | 7.16% | 03/25/2042 | 1000000 | 1030514 |
| Connecticut Avenue Securities Trust, Series 2023-R07, Class 2B1 | 7.81% | 09/25/2043 | 900000 | 964849 |
| EFMT, Series 2025-RM4, Class A1<sup>(a)</sup> | 4.97% | 11/25/2055 | 500000 | 477723 |
| Elevation CLO Ltd., Series 2021-13A, Class A1R | 4.97% | 07/15/2034 | 500000 | 499659 |
| Elmwood CLO Ltd., Series 2022-6A, Class AR2 | 5.15% | 10/17/2038 | 500000 | 500008 |
| Exeter Automobile Receivables Trust, Series 2024-1A, Class C | 5.13% | 05/15/2030 | 204000 | 206201 |
| Fannie Mae REMICS, Series 2024-67, Class FA | 5.03% | 09/25/2054 | 1228385 | 1232550 |
| Fannie Mae REMICS, Series 2025-7, Class FD | 4.87% | 09/25/2054 | 2861144 | 2863199 |
| Freddie Mac REMICS, Series 5508, Class FG | 5.23% | 02/25/2055 | 2887520 | 2910438 |
| Freddie Mac REMICS, Series 5507, Class FG | 5.23% | 02/25/2055 | 506063 | 510664 |
| Freddie Mac STACR REMIC Trust, Series 2023-HQA3, Class M1 | 5.69% | 11/25/2043 | 468846 | 471564 |
| Government National Mortgage Association, Series , Class | 5.14% | 04/20/2054 | 2909148 | 2923377 |
| GSJP Trust, Series 2025-BEDS, Class A | 5.25% | 12/15/2042 | 500000 | 500971 |
| JPMorgan Mortgage Trust, Series 2024-11, Class A6<sup>(a)</sup> | 5.97% | 04/25/2055 | 716164 | 719305 |
| KKR CLO Ltd., Series 40A, Class AR | 5.18% | 10/20/2034 | 500000 | 500202 |
| KSL Commercial Mortgage Trust, Series 2025-MH, Class A | 5.33% | 12/15/2042 | 750000 | 752205 |
| LCM Ltd., Series 36A, Class A1R | 4.98% | 01/15/2034 | 600000 | 599252 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| LCM Ltd., Series 38A, Class AR2 | 5.2% | 11/04/2038 | 600000.0 | 599404 |
| LMNT CRE LLC, Series 2025-FL3, Class A | 5.54% | 07/21/2043 | 750000.0 | 751606 |
| LQR Trust, Series 2025-CALI, Class A | 5.34% | 01/15/2043 | 750000.0 | 750935 |
| Magnetite LI Ltd., Series 2025-51A, Class A1 | 5.09% | 10/25/2038 | 600000.0 | 599685 |
| Magnetite XXII Ltd., Series 2019-22A, Class ARR | 5.15% | 07/15/2036 | 600000.0 | 600623 |
| MED Commercial Mortgage Trust, Series 2024-MOB, Class A | 5.35% | 05/15/2041 | 500000.0 | 498795 |
| MF1 LLC, Series 2025-FL17, Class A | 5.06% | 02/18/2040 | 680000.0 | 679050 |
| MF1 Ltd., Series 2021-FL7, Class A | 4.93% | 10/16/2036 | 491470.0 | 491102 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-3, Class A7<sup>(a)</sup> | 5.9% | 07/25/2054 | 487158.0 | 494997 |
| Nelnet Student Loan Trust, Series 2025-DA, Class A1A | 4.62% | 08/20/2054 | 750000.0 | 752980 |
| Neuberger Berman Loan Advisers CLO Ltd., Series 2022-47A, Class AR | 5.2% | 04/16/2035 | 600000.0 | 600014 |
| NYC Trust, Series 2025-77C, Class B<sup>(a)</sup> | 4.95% | 01/10/2038 | 500000.0 | 503487 |
| Ocean Trails CLO XI, Series 2021-11A, Class AR | 4.93% | 07/20/2034 | 425000.0 | 423937 |
| OCP CLO Ltd., Series 2021-21A, Class AR | 5.06% | 01/20/2038 | 500000.0 | 500050 |
| Octagon Investment Partners Ltd., Series 2020-3A, Class A1R2 | 5.25% | 01/15/2038 | 500000.0 | 501331 |
| Octagon Investment Partners Ltd., Series 2019-1A, Class A1RR | 4.93% | 01/20/2035 | 375000.0 | 374906 |
| OZLM XV Ltd., Series 2016-15A, Class A1R3 | 4.93% | 04/20/2033 | 195379.0 | 195476 |
| PMT Loan Trust, Series 2025-INV12, Class A29<sup>(a)</sup> | 5.48% | 12/25/2056 | 500000.0 | 501641 |
| Provident Funding Mortgage Trust, Series 2021-J1, Class A10<sup>(a)</sup> | 3.16% | 10/25/2051 | 100000.0 | 63335 |
| Provident Funding Mortgage Trust, Series 2025-6, Class A2<sup>(a)</sup> | 5.03% | 12/25/2055 | 500000.0 | 497461 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class C | 5.28% | 06/17/2030 | 800000.0 | 817835 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class C | 6.23% | 03/17/2031 | 500000.0 | 510160 |
| Sequoia Mortgage Trust, Series 2025-13, Class A19<sup>(a)</sup> | 5.48% | 12/25/2055 | 500000.0 | 502246 |
| SMB Private Education Loan Trust, Series 2024-C, Class A1A | 5.3% | 06/17/2052 | 442951.0 | 455334 |
| SMB Private Education Loan Trust, Series 2022-A, Class APT | 3.13% | 11/16/2054 | 477472.0 | 452262 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-CA, Class A3 | 4.04% | 04/20/2029 | 1200000.0 | 1202430 |
| Textainer Marine Containers VII Ltd., Series 2021-2A, Class A | 2.55% | 04/20/2046 | 1096667.0 | 1040333 |
| WCORE Commercial Mortgage Trust, Series 2024-CORE, Class A | 5.23% | 11/15/2041 | 465000.0 | 466166 |
| Westlake Automobile Receivables Trust, Series 2024-1A, Class B | 5.3% | 11/15/2027 | 215000.0 | 215942 |
| Whetstone Park CLO Ltd., Series 2021-1A, Class A2R | 5.18% | 01/20/2035 | 500000.0 | 500383 |
| Wind RiverCLO Ltd., Series 2024-1A, Class A | 5.47% | 04/20/2037 | 500000.0 | 501178 |
| Wise CLO Ltd., Series 2024-2A, Class A | 5.34% | 07/15/2037 | 375000.0 | 376491 |
|  |  |  |  | 48927239 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** |  |  |  |  |
| **(Cost $48,872,327)** |  |  |  | 48927239 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 32.2%** | **Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount** | **Value** |
| **Advertising & Marketing - 0.1%** |  |  |  |  |
| Outfront Media Capital LLC / Outfront Media Capital Corp. | 5.02% | 01/15/2029 | 140000 | 137012 |
| **Aerospace & Defense - 0.1%** |  |  |  |  |
| TransDigm, Inc. | 5.25% | 03/01/2029 | 130000 | 134227 |
| **Airlines - 0.8%** |  |  |  |  |
| American Airlines Group, Inc.<sup>(b)</sup> | 4.14% | 09/22/2027 | 172673 | 171138 |
| American Airlines Group, Inc.<sup>(b)</sup> | 4.11% | 06/15/2028 | 139111 | 136185 |
| American Airlines, Inc.<sup>(b)</sup> | 5.13% | 04/20/2029 | 100000 | 101888 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| United Airlines, Inc. | 4.6% | 04/15/2026 | 512000.0 | 511668 |
|  |  |  |  | 920879 |
| **Auto Parts Manufacturing - 0.2%** |  |  |  |  |
| Tenneco, Inc. | 7.85% | 11/17/2028 | 170000.0 | 170660 |
| **Banks - 0.5%** |  |  |  |  |
| US Bancorp<sup>(a)</sup> | 4.19% | 07/22/2028 | 222000.0 | 223925 |
| Wells Fargo & Co.<sup>(a)</sup> | 3.82% | 03/24/2028 | 189000.0 | 187825 |
| Wells Fargo & Co.<sup>(a)</sup> | 3.86% | 05/22/2028 | 149000.0 | 148084 |
|  |  |  |  | 559834 |
| **Biotechnology - 1.2%** |  |  |  |  |
| Amgen, Inc. | 3.99% | 03/02/2028 | 488000.0 | 499687 |
| Royalty Pharma PLC | 4.0% | 09/02/2027 | 534000.0 | 514787 |
| Royalty Pharma PLC | 4.41% | 09/02/2030 | 393000.0 | 356747 |
|  |  |  |  | 1371221 |
| **Cable & Satellite - 0.4%** |  |  |  |  |
| CCO Holdings LLC | 5.37% | 02/01/2028 | 135000.0 | 134014 |
| DIRECTV Financing LLC | 5.46% | 08/15/2027 | 135000.0 | 135869 |
| Sirius XM Radio LLC | 4.89% | 07/15/2028 | 140000.0 | 137048 |
|  |  |  |  | 406931 |
| **Casinos & Gaming - 0.2%** |  |  |  |  |
| MGM Resorts International | 4.76% | 10/15/2028 | 175000.0 | 174954 |
| **Chemicals - 1.1%** |  |  |  |  |
| Albemarle Corp. | 4.14% | 06/01/2027 | 205000.0 | 206423 |
| Celanese US Holdings LLC | 5.07% | 11/15/2028 | 60000.0 | 62819 |
| Chemours Co. | 6.79% | 11/15/2028 | 70000.0 | 68134 |
| Ecolab, Inc. | 4.09% | 03/24/2030 | 486000.0 | 499204 |
| PPG Industries, Inc. | 4.03% | 03/15/2026 | 341000.0 | 339058 |
|  |  |  |  | 1175638 |
| **Construction Materials Manufacturing - 0.1%** |  |  |  |  |
| Smyrna Ready Mix Concrete LLC | 5.79% | 11/01/2028 | 140000.0 | 140755 |
| **Consumer Finance - 0.7%** |  |  |  |  |
| Fiserv, Inc. | 4.24% | 03/02/2028 | 361000.0 | 369941 |
| Global Payments, Inc. | 4.01% | 03/01/2026 | 167000.0 | 166232 |
| Navient Corp. | 4.78% | 03/15/2027 | 135000.0 | 135344 |
| OneMain Finance Corp. | 4.87% | 09/15/2028 | 140000.0 | 136527 |
|  |  |  |  | 808044 |
| **Consumer Products - 0.1%** |  |  |  |  |
| Energizer Holdings, Inc. | 5.86% | 03/31/2029 | 145000.0 | 138708 |
| **Consumer Services - 0.1%** |  |  |  |  |
| Williams Scotsman, Inc. | 4.61% | 08/15/2028 | 140000.0 | 140053 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Containers & Packaging - 0.3%** | | | | |
| Cascades, Inc. / Cascades USA, Inc. | 5.47% | 01/15/2028 | 201000 | 200620 |
| Clydesdale Acquisition Holdings, Inc. | 5.92% | 04/15/2029 | 135000 | 137810 |
|  |  |  |  | 338430 |
| **Design, Manufacturing & Distribution - 0.2%** |  |  |  |  |
| Imola Merger Corp. | 5.15% | 05/15/2029 | 170000 | 167936 |
| **Diversified Banks - 4.7%** |  |  |  |  |
| Bank of America Corp.<sup>(a)</sup> | 2.56% | 07/22/2027 | 1182000 | 1167154 |
| Bank of America Corp.<sup>(a)</sup> | 3.86% | 07/21/2028 | 576000 | 572299 |
| Bank of America Corp.<sup>(a)</sup> | 3.82% | 12/20/2028 | 206000 | 203722 |
| Bank of America Corp.<sup>(a)</sup> | 4.01% | 04/29/2031 | 562000 | 524234 |
| Bank of America Corp.<sup>(a)</sup> | 4.16% | 04/22/2032 | 173000 | 158958 |
| Bank of Nova Scotia<sup>(c)</sup> | 3.94% | 08/03/2026 | 548000 | 544044 |
| JPMorgan Chase & Co.<sup>(a)</sup> | 2.54% | 09/22/2027 | 1012000 | 993802 |
| JPMorgan Chase & Co.<sup>(a)</sup> | 3.52% | 02/24/2028 | 615000 | 607779 |
| JPMorgan Chase & Co.<sup>(a)</sup> | 3.45% | 06/01/2029 | 187000 | 178765 |
| JPMorgan Chase & Co.<sup>(a)</sup> | 4.15% | 12/05/2029 | 106000 | 107136 |
| Royal Bank of Canada<sup>(c)</sup> | 3.82% | 04/27/2026 | 193000 | 191400 |
|  |  |  |  | 5249293 |
| **Electrical Equipment Manufacturing - 0.7%** |  |  |  |  |
| Carrier Global Corp. | 4.23% | 02/15/2030 | 828000 | 781159 |
| **Entertainment Content - 0.5%** |  |  |  |  |
| Walt Disney Co. | 3.89% | 09/01/2029 | 558000 | 522379 |
| **Entertainment Resources - 0.2%** |  |  |  |  |
| Cinemark USA, Inc. | 5.22% | 07/15/2028 | 170000 | 170105 |
| **Exploration & Production - 0.1%** |  |  |  |  |
| Civitas Resources, Inc. | 6.98% | 07/01/2028 | 130000 | 134107 |
| **Financial Services - 2.0%** |  |  |  |  |
| Blackstone Holdings I LP | 4.03% | 08/05/2028 | 168000 | 158126 |
| Intercontinental Exchange, Inc. | 4.15% | 06/15/2030 | 366000 | 335711 |
| Morgan Stanley<sup>(a)</sup> | 2.25% | 05/04/2027 | 481000 | 476871 |
| Morgan Stanley<sup>(a)</sup> | 3.61% | 07/22/2028 | 187000 | 185778 |
| Morgan Stanley<sup>(a)</sup> | 4.77% | 10/18/2028 | 79000 | 82113 |
| Morgan Stanley<sup>(a)</sup> | 4.41% | 01/16/2030 | 40000 | 41113 |
| Morgan Stanley<sup>(a)</sup> | 4.89% | 01/18/2035 | 311000 | 324062 |
| PRA Group, Inc. | 7.00% | 02/01/2028 | 130000 | 133410 |
| Sumitomo Mitsui Trust Bank Ltd.<sup>(c)</sup> | 3.82% | 03/10/2027 | 538000 | 531664 |
|  |  |  |  | 2268848 |
| **Food & Beverage - 0.2%** |  |  |  |  |
| Darling Ingredients, Inc. | 5.03% | 04/15/2027 | 135000 | 135363 |
| Primo Water Holdings, Inc. / Triton Water Holdings, Inc. | 5.23% | 04/30/2029 | 140000 | 136371 |
|  |  |  |  | 271734 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Health Care Facilities & Services - 1.1%** | | | | |
| Acadia Healthcare Co., Inc. | 5.70% | 07/01/2028 | 135000 | 134383 |
| CVS Health Corp. | 4.41% | 08/21/2030 | 605000 | 538108 |
| HCA Healthcare, Inc. | 4.20% | 06/15/2029 | 526000 | 524777 |
|  |  |  |  | 1197268 |
| **Home & Office Products Manufacturing - 0.1%** |  |  |  |  |
| Newell Brands, Inc. | 5.93% | 09/15/2027 | 135000 | 135953 |
| **Internet Media - 0.2%** |  |  |  |  |
| Match Group Holdings II LLC | 4.81% | 06/01/2028 | 170000 | 169302 |
| **Machinery Manufacturing - 0.2%** |  |  |  |  |
| John Deere Capital Corp.<sup>(c)</sup> | 3.72% | 03/08/2027 | 228000 | 224416 |
| **Managed Care - 0.3%** |  |  |  |  |
| UnitedHealth Group, Inc.<sup>(c)</sup> | 3.80% | 04/15/2027 | 385000 | 382985 |
| **Metals & Mining - 0.8%** |  |  |  |  |
| Nucor Corp. | 3.78% | 05/23/2027 | 378000 | 380645 |
| Steel Dynamics, Inc. | 3.90% | 10/15/2027 | 557000 | 535537 |
|  |  |  |  | 916182 |
| **Oil & Gas Services & Equipment - 0.2%** |  |  |  |  |
| Transocean Titan Financing Ltd.<sup>(b)</sup> | 7.22% | 02/01/2028 | 165952 | 169599 |
| **Pharmaceuticals - 0.6%** |  |  |  |  |
| Johnson & Johnson | 3.82% | 09/01/2030 | 706000 | 630609 |
| **Pipeline - 2.6%** |  |  |  |  |
| Enbridge, Inc. | 3.99% | 10/04/2026 | 1185000 | 1164065 |
| Enterprise Products Operating LLC | 4.11% | 01/31/2030 | 574000 | 545954 |
| Kinder Morgan, Inc. | 3.86% | 11/15/2026 | 389000 | 382026 |
| MPLX LP | 4.39% | 08/15/2030 | 237000 | 219874 |
| Sabine Pass Liquefaction LLC | 4.39% | 03/15/2027 | 436000 | 439067 |
| Venture Global LNG, Inc. | 7.51% | 06/01/2028 | 130000 | 131748 |
|  |  |  |  | 2882734 |
| **Power Generation - 0.1%** |  |  |  |  |
| NRG Energy, Inc. | 4.87% | 02/15/2029 | 145000 | 138804 |
| **Property & Casualty Insurance - 0.1%** |  |  |  |  |
| Alliant Holdings Intermediate LLC | 5.68% | 04/15/2028 | 140000 | 143179 |
| **Publishing & Broadcasting - 0.1%** |  |  |  |  |
| Nexstar Media, Inc. | 5.00% | 11/01/2028 | 140000 | 139073 |
| **Railroad - 0.3%** |  |  |  |  |
| Canadian Pacific Railway Co. | 3.89% | 12/02/2026 | 338000 | 331510 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Real Estate - 1.1%** | | | | |
| American Homes 4 Rent | 4.60% | 04/15/2032 | 113000 | 107034 |
| Invitation Homes, Inc. | 4.50% | 08/15/2031 | 315000 | 276177 |
| Iron Mountain, Inc. | 4.96% | 07/15/2028 | 170000 | 170156 |
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK |  |  |  |  |
| Finance Co-Issuer | 5.82% | 10/01/2028 | 135000 | 135198 |
| Realty Income Corp. | 4.27% | 01/15/2031 | 546000 | 521061 |
|  |  |  |  | 1209626 |
| **Refining & Marketing - 0.1%** |  |  |  |  |
| Sunoco LP | 5.56% | 05/01/2029 | 130000 | 135642 |
| **Retail - Consumer Discretionary - 0.9%** |  |  |  |  |
| Advance Auto Parts, Inc. | 4.80% | 10/01/2027 | 185000 | 175629 |
| Avis Budget Group, Inc. | 5.79% | 04/01/2028 | 140000 | 136978 |
| O'Reilly Automotive, Inc. | 3.90% | 09/01/2027 | 634000 | 630928 |
|  |  |  |  | 943535 |
| **Semiconductors - 0.5%** |  |  |  |  |
| Advanced Micro Devices, Inc. | 4.23% | 06/01/2032 | 151000 | 148396 |
| Broadcom, Inc. | 3.82% | 09/15/2026 | 412000 | 410966 |
|  |  |  |  | 559362 |
| **Software & Services - 1.7%** |  |  |  |  |
| Cloud Software Group, Inc. | 6.03% | 03/31/2029 | 170000 | 172337 |
| Fortinet, Inc. | 4.23% | 03/15/2026 | 220000 | 218569 |
| IBM Corp. | 3.74% | 07/27/2027 | 188000 | 189158 |
| Oracle Corp. | 4.42% | 11/15/2027 | 384000 | 375984 |
| Oracle Corp. | 4.94% | 04/01/2030 | 545000 | 503885 |
| VMware LLC | 4.43% | 08/15/2031 | 486000 | 432607 |
|  |  |  |  | 1892540 |
| **Transportation & Logistics - 0.3%** |  |  |  |  |
| FedEx Corp.<sup>(b)</sup> | 3.65% | 02/20/2034 | 404416 | 354198 |
| **Utilities - 4.4%** |  |  |  |  |
| Aes Corp. | 4.20% | 01/15/2026 | 262000 | 261702 |
| Ameren Illinois Co. | 3.87% | 05/15/2028 | 603000 | 602014 |
| Duke Energy Corp. | 3.89% | 08/15/2027 | 1099000 | 1086324 |
| National Rural Utilities Cooperative Finance Corp. | 4.49% | 04/15/2032 | 241000 | 218211 |
| NextEra Energy Capital Holdings, Inc. | 3.85% | 07/15/2027 | 368000 | 372225 |
| SCE Recovery Funding LLC | 4.39% | 03/15/2036 | 800000 | 804324 |
| Sierra Pacific Power Co. | 4.03% | 05/01/2026 | 238000 | 236884 |
| Southwestern Electric Power Co. | 4.32% | 03/15/2026 | 474000 | 471452 |
| WEC Energy Group, Inc. | 3.92% | 10/01/2027 | 824000 | 840938 |
|  |  |  |  | 4894074 |
| **Wireless Telecommunications Services - 2.0%** |  |  |  |  |
| AT&T, Inc. | 4.55% | 02/01/2032 | 450000 | 395446 |
| T-Mobile USA, Inc. | 4.07% | 02/15/2026 | 584000 | 582688 |
| T-Mobile USA, Inc. | 4.00% | 02/15/2028 | 168000 | 161384 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| T-Mobile USA, Inc. | 4.18% | 04/15/2029 | 131000.0 | 127804 |
| Verizon Communications, Inc. | 4.54% | 03/15/2032 | 448000.0 | 395525 |
| Verizon Communications, Inc. | 4.96% | 02/15/2035 | 531000.0 | 523954 |
|  |  |  |  | 2186801 |
| **TOTAL CORPORATE BONDS (Cost $35,659,079)** |  |  |  | 35820299 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCY DEBT - 0.6%** | **Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount** | **Value** |
| Government Agencies - 0.6% |  |  |  |  |
| Federal Home Loan Bank Discount Notes<sup>(c)(d)</sup> | 3.55% | 01/08/2026 | 200000 | 199845 |
| Freddie Mac Discount Notes<sup>(d)</sup> | 3.55% | 01/15/2026 | 475000 | 474307 |
|  |  |  |  | 674152 |
| **TOTAL U.S. GOVERNMENT AGENCY DEBT (Cost $674,045)** |  |  |  | 674152 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. TREASURY SECURITIES - 22.5%** | **Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount** | **Value** |
| U.S. Treasury Note/Bond | 3.47% | 12/31/2027 | 13258800 | 13235235 |
| U.S. Treasury Note/Bond | 3.53% | 12/15/2028 | 6007300 | 6002841 |
| U.S. Treasury Note/Bond | 3.71% | 12/31/2030 | 5727000 | 5705748 |
|  |  |  |  | 24943824 |
| **TOTAL U.S. TREASURY SECURITIES (Cost $24,929,672)** |  |  |  | 24943824 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |  |  |
| **Money Market Funds - 0.1%** |  |  | **Shares** | **Value** |
| BNY Mellon Cash Reserve Fund, 0.01%<sup>(e)</sup> |  |  | 139308 | 139308 |
| **TOTAL SHORT-TERM INVESTMENTS (Cost $139,308)** |  |  |  | 139308 |
| **TOTAL INVESTMENTS - 99.4% (Cost $110,274,431)** |  |  |  | $110504822 |
| Other Assets in Excess of Liabilities - 0.6% |  |  |  | 712417 |
| **TOTAL NET ASSETS - 100.0%** |  |  |  | $111217239 |

---

Percentages are stated as a percent of net assets.

PLC Public Limited Company

(a) Coupon
 rate is variable based on the weighted average coupon of the underlying collateral. To
 the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly.
 The rate disclosed is as of December 31, 2025.

(b) Sinkable
 security.

(c) At
 maturity security. Interest is paid in full at the maturity date.

(d) Zero
 coupon bond issued at a discount.

(e) The
 rate shown represents the 7-day annualized effective yield as of December 31, 2025.

**Voya Ultra Short Income ETF**

**Schedule of Futures Contracts**

**December 31, 2025 (Unaudited)**

The Voya Ultra Short Income ETF had the following futures contracts outstanding with MORGAN STANLEY AND CO., LLC as of December 31, 2025:

**FUTURES CONTRACTS - 0.0%<sup>(a)</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Contracts**<br> **Sold** | **Expiration Date** | **Notional Value** | **Value /**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)** |
| U.S. 10-Year Treasury Note | (22) | 03/20/2026 | $(2482564) | $8939 |
| U.S. 2-Year Treasury Note | (26) | 03/31/2026 | (5418700) | (9816) |
| U.S. 5-Year Treasury Note | (96) | 03/31/2026 | (10505574) | 12324 |
| U.S. Treasury Long Bond | (8) | 03/20/2026 | (928248) | 3499 |
| U.S. Treasury Ultra 10-Year Note | (13) | 03/20/2026 | (1501754) | 6551 |
| U.S. Treasury Ultra Bond | (2) | 03/20/2026 | (239683) | 3683 |
|  |  |  |  | 25180 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  | $25180 |

---

(a) Does not round to 0.1% or (0.1)%, as applicable.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Tidal Trust IV

- **b. Investment Company Act file number:** 811-24061

- **c. CIK number of Registrant:** 0002043390

- **d. LEI of Registrant:** 2549002AJTPTPGECMC44

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

  - **Street Address 1:** 234 West Florida St

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 8558432434

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

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

- **b. EDGAR series identifier (if any):** S000096085

- **c. LEI of Series:** 254900FKI2RDASVD0175

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $111673871.62

**Total Liabilities:** $456632.79

**Net Assets:** $111217238.83

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -59.02 | **1-Year:** -5790.51 | **5-Year:** -9972.52 | **10-Year:** 606.15 | **30-Year:** 1525.41

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

- **3-Month:** -9.73 | **1-Year:** -203.02 | **5-Year:** -1287.19 | **10-Year:** 0 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000264872 |  | 0.24%                | -1.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  | $65109.07                | $119005.23                                 |
| Month 3  | $-52718.77               | $73735.70                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BNY MELLON CASH RESERVE U    | BNY MELLON CASH RESERVE U | CUSIP: N/A<br>LEI: HPFHU0OQ28E4N0NFVK49       | Long             | STIV             | RF                | US        |    139308 | NS      | $139308.31    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY               | MORGAN STANLEY 5.173 1/30 | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41112.95     | 0.04%             | 2030-01-16      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| CELANESE US H MULTI 11/28    | CELANESE US H MULTI 11/28 | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62819.12     | 0.06%             | 2028-11-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                  | CHEMOURS CO 5.75 11/28    | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68133.82     | 0.06%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY               | MORGAN STANLE 6.296 10/28 | CUSIP: 61747YEV3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     79000 | PA      | $82113.74     | 0.07%             | 2028-10-18      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLIN 5.75 4/29    | AMERICAN AIRLIN 5.75 4/29 | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | NUSS              | US        |    100000 | PA      | $101887.60    | 0.09%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PFMT 2021-J1 A10 10/51       | PFMT 2021-J1 A10 10/51    | CUSIP: 74387MAK5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    100000 | PA      | $63334.58     | 0.06%             | 2051-10-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHAS 4.452 12/29    | JPMORGAN CHAS 4.452 12/29 | CUSIP: 46647PAX4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    106000 | PA      | $107136.29    | 0.10%             | 2029-12-05      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 3.625 4/32    | AMERICAN HOMES 3.625 4/32 | CUSIP: 02666TAE7<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    113000 | PA      | $107034.00    | 0.10%             | 2032-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOUR 8.375 7/28    | CIVITAS RESOUR 8.375 7/28 | CUSIP: 17888HAA1<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134107.09    | 0.12%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                | PRA GROUP INC 8.375 2/28  | CUSIP: 69354NAE6<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133409.77    | 0.12%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP 7 5/29             | SUNOCO LP 7 5/29          | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135641.61    | 0.12%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                | TRANSDIGM INC 6.375 3/29  | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134227.46    | 0.12%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL 8.125 6/28    | VENTURE GLOBAL 8.125 6/28 | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131747.67    | 0.12%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-MOBILE USA I 3.375 4/29 | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    131000 | PA      | $127804.38    | 0.12%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC     | ACADIA HEALTH 5.5 7/28    | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134383.17    | 0.12%             | 2028-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP       | CCO HOLDINGS LLC 5 2/28   | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $134014.45    | 0.12%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQ 6.625 4/29    | CLYDESDALE ACQ 6.625 4/29 | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137810.70    | 0.12%             | 2029-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC      | DARLING INGREDI 5.25 4/27 | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135363.16    | 0.12%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN/DT 5.875 8/27    | DIRECTV FIN/DT 5.875 8/27 | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $135868.86    | 0.12%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                 | NAVIENT CORP 5 3/27       | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135344.39    | 0.12%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC            | NEWELL BRANDS 6.375 9/27  | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135952.83    | 0.12%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED 5.875 10/28    | PARK INTERMED 5.875 10/28 | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $135198.45    | 0.12%             | 2028-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AM AIRLN 16-2 AA 3.2 6/28    | AM AIRLN 16-2 AA 3.2 6/28 | CUSIP: 023765AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139111 | PA      | $136184.86    | 0.12%             | 2028-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLDING 6.75 4/28    | ALLIANT HOLDING 6.75 4/28 | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $143178.56    | 0.13%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE      | AVIS BUDGET CAR 4.75 4/28 | CUSIP: 053773BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $136978.28    | 0.12%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEXSTAR FINANCE INC          | NEXSTAR BROADC 4.75 11/28 | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139073.24    | 0.12%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANC 3.875 9/28    | ONEMAIN FINANC 3.875 9/28 | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    140000 | PA      | $136526.53    | 0.12%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA 4.25 1/29     | OUTFRONT MEDIA 4.25 1/29  | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $137012.43    | 0.12%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PRIMO/TRTON WA 4.375 4/29    | PRIMO/TRTON WA 4.375 4/29 | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $136371.08    | 0.12%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC          | SIRIUS XM RADIO 4 7/28    | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    140000 | PA      | $137047.47    | 0.12%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX 6 11/28     | SMYRNA READY MIX 6 11/28  | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140755.30    | 0.13%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTS 4.625 8/28    | WILLIAMS SCOTS 4.625 8/28 | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140052.90    | 0.13%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC       | ENERGIZER HLDG 4.375 3/29 | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    145000 | PA      | $138708.54    | 0.12%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC               | NRG ENERGY INC 3.375 2/29 | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    145000 | PA      | $138803.98    | 0.12%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY        | WELLS FARGO CO 3.584 5/28 | CUSIP: 95000U2A0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    149000 | PA      | $148083.57    | 0.13%             | 2028-05-22      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES       | ADVANCED MICRO 3.924 6/32 | CUSIP: 007903BF3<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |    151000 | PA      | $148396.56    | 0.13%             | 2032-06-01      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TIT 8.375 2/28    | TRANSOCEAN TIT 8.375 2/28 | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165952 | PA      | $169599.02    | 0.15%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC          | GLOBAL PAY INC 1.2 3/26   | CUSIP: 37940XAE2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    167000 | PA      | $166232.03    | 0.15%             | 2026-03-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE HLD 1.625 8/28    | BLACKSTONE HLD 1.625 8/28 | CUSIP: 09261BAC4<br>LEI: 549300D2L6J4NC1QVZ22 | Long             | DBT              | CORP              | US        |    168000 | PA      | $158125.78    | 0.14%             | 2028-08-05      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-MOBILE USA IN 2.05 2/28 | CUSIP: 87264ACA1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    168000 | PA      | $161384.00    | 0.14%             | 2028-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC             | CINEMARK USA 5.25 7/28    | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170105.37    | 0.15%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER 4.75 5/29       | IMOLA MERGER 4.75 5/29    | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $167936.16    | 0.15%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC            | IRON MOUNTAIN 5 7/28      | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170155.96    | 0.15%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP INC              | MATCH GROUP II 4.625 6/28 | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169301.84    | 0.15%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                  | TENNECO INC 8 11/28       | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170659.58    | 0.15%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TIBCO SOFTWARE               | CLD SFTWR GRP IN 6.5 3/29 | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    170000 | PA      | $172337.15    | 0.15%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AM AIRLN 15-2 AA 3.6 9/27    | AM AIRLN 15-2 AA 3.6 9/27 | CUSIP: 02377BAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    172673 | PA      | $171138.51    | 0.15%             | 2027-09-22      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMER C 2.687 4/32 | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    173000 | PA      | $158958.03    | 0.14%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL             | MGM RESORTS 4.75 10/28    | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174953.57    | 0.16%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS INC       | ADVANCE AUTO P 1.75 10/27 | CUSIP: 00751YAF3<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    185000 | PA      | $175628.97    | 0.16%             | 2027-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE 2.069 6/29    | JPMORGAN CHASE 2.069 6/29 | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    187000 | PA      | $178765.54    | 0.16%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY               | MORGAN STANLEY FRN 7/28   | CUSIP: 61744YAK4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    187000 | PA      | $185778.05    | 0.17%             | 2028-07-22      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| INTL BUSINESS MACHINES CORP  | IBM CORP 4.15 7/27        | CUSIP: 459200KT7<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    188000 | PA      | $189157.63    | 0.17%             | 2027-07-27      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY        | WELLS FARGO CO 3.526 3/28 | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    189000 | PA      | $187825.04    | 0.17%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| ROYAL BK CANADA 1.2 4/26     | ROYAL BK CANADA 1.2 4/26  | CUSIP: 78016EZQ3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | US        |    193000 | PA      | $191399.59    | 0.17%             | 2026-04-27      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| OZLM 2016-15A A1R3 4/33      | OZLM 2016-15A A1R3 4/33   | CUSIP: 67111DBG0<br>LEI: 5493008RJIODIVVGSK16 | Long             | DBT              | USGSE             | US        |    195379 | PA      | $195476.17    | 0.18%             | 2033-04-20      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| FHLB 3.25% 08/15/05          | FHLB DISCOUNT NT 0 1/26   | CUSIP: 313385RN8<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |    200000 | PA      | $199844.44    | 0.18%             | 2026-01-08      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CASCADES INC/U 5.375 1/28    | CASCADES INC/U 5.375 1/28 | CUSIP: 14739LAB8<br>LEI: N/A                  | Long             | DBT              | NUSS              | US        |    201000 | PA      | $200619.77    | 0.18%             | 2028-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| EART 2024-1A C 5/30          | EART 2024-1A C 5/30       | CUSIP: 30167PAE0<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    204000 | PA      | $206201.16    | 0.18%             | 2030-05-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP               | ALBEMARLE CORP 4.65 6/27  | CUSIP: 012653AD3<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    205000 | PA      | $206423.55    | 0.19%             | 2027-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMER 3.419 12/28  | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    206000 | PA      | $203722.58    | 0.18%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| WLAKE 2024-1A B 11/27        | WLAKE 2024-1A B 11/27     | CUSIP: 96043RAE7<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    215000 | PA      | $215942.35    | 0.19%             | 2027-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| FORTINET INC                 | FORTINET INC 1 3/26       | CUSIP: 34959EAA7<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |    220000 | PA      | $218568.59    | 0.20%             | 2026-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                   | US BANCORP 4.548 7/28     | CUSIP: 91159HJF8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    222000 | PA      | $223925.47    | 0.20%             | 2028-07-22      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP      | JOHN DEERE CAP 2.35 3/27  | CUSIP: 24422EWD7<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    228000 | PA      | $224416.50    | 0.20%             | 2027-03-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| MPLX LP                      | MPLX LP 2.65 8/30         | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    237000 | PA      | $219874.21    | 0.20%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| SIERRA PACIFIC POWER CO.     | SIERRA PAC POWER 2.6 5/26 | CUSIP: 826418BM6<br>LEI: QB888G5GSVGE1LD1WV84 | Long             | DBT              | CORP              | US        |    238000 | PA      | $236884.51    | 0.21%             | 2026-05-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTILITIES     | NATL RURAL UTIL 2.75 4/32 | CUSIP: 637432NY7<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    241000 | PA      | $218211.17    | 0.20%             | 2032-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BCC 2020-5A ARR 4/34         | BCC 2020-5A ARR 4/34      | CUSIP: 05683FBE8<br>LEI: 2549006JVW9O28JU2J23 | Long             | DBT              | USGSE             | US        |    250000 | PA      | $250299.25    | 0.23%             | 2034-04-20      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| CIFC 2022-4A AR 7/35         | CIFC 2022-4A AR 7/35      | CUSIP: 12567WAL3<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    250000 | PA      | $249922.75    | 0.23%             | 2035-07-16      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| CGMS 2021-9A AR 10/34        | CGMS 2021-9A AR 10/34     | CUSIP: 14317KAQ7<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    250000 | PA      | $250075.50    | 0.23%             | 2034-10-20      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| AES CORP/VA                  | AES CORP/THE 1.375 1/26   | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    262000 | PA      | $261701.77    | 0.23%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY               | MORGAN STANLEY 5.466 1/35 | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    311000 | PA      | $324061.95    | 0.29%             | 2035-01-18      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES 2 8/31      | INVITATION HOMES 2 8/31   | CUSIP: 46188BAA0<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    315000 | PA      | $276176.58    | 0.25%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ARCREN 2025-FL1 A 1/43       | ARCREN 2025-FL1 A 1/43    | CUSIP: 03881KAA1<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    320000 | PA      | $320269.12    | 0.29%             | 2043-01-20      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RR CO       | CANADIAN PACIF 1.75 12/26 | CUSIP: 13645RBE3<br>LEI: 54930036474DURYNB481 | Long             | DBT              | NUSS              | US        |    338000 | PA      | $331509.66    | 0.30%             | 2026-12-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PPG INDUSTRIES INC           | PPG INDUSTRIES 1.2 3/26   | CUSIP: 693506BU0<br>LEI: 549300BKPEP01R3V6C59 | Long             | DBT              | CORP              | US        |    341000 | PA      | $339057.73    | 0.30%             | 2026-03-15      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| FISERV INC                   | FISERV INC 5.45 3/28      | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    361000 | PA      | $369940.92    | 0.33%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE IN | INTERCONTINENT 2.1 6/30   | CUSIP: 45866FAK0<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    366000 | PA      | $335711.05    | 0.30%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL       | NEXTERA ENERGY 4.625 7/27 | CUSIP: 65339KCH1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    368000 | PA      | $372225.09    | 0.34%             | 2027-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| OCT40 2019-1A A1RR 1/35      | OCT40 2019-1A A1RR 1/35   | CUSIP: 67592BAY4<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    375000 | PA      | $374906.25    | 0.34%             | 2035-01-20      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| WYZE 2024-2A A 7/37          | WYZE 2024-2A A 7/37       | CUSIP: 97718GAA1<br>LEI: 254900UJ1RZE30CBZ497 | Long             | DBT              | USGSE             | US        |    375000 | PA      | $376491.19    | 0.34%             | 2037-07-15      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                   | NUCOR CORP 4.3 5/27       | CUSIP: 670346AY1<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |    378000 | PA      | $380644.81    | 0.34%             | 2027-05-23      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                  | ORACLE CORP 3.25 11/27    | CUSIP: 68389XBN4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    384000 | PA      | $375984.52    | 0.34%             | 2027-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC       | UNITEDHEALTH G 3.375 4/27 | CUSIP: 91324PCY6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    385000 | PA      | $382984.74    | 0.34%             | 2027-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC            | KINDER MORGAN 1.75 11/26  | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    389000 | PA      | $382025.60    | 0.34%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA 2.2 9/30      | ROYALTY PHARMA 2.2 9/30   | CUSIP: 78081BAK9<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | US        |    393000 | PA      | $356747.35    | 0.32%             | 2030-09-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| FEDEX 2020-1 1.875 2/34      | FEDEX 2020-1 1.875 2/34   | CUSIP: 314353AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    404416 | PA      | $354197.55    | 0.32%             | 2034-02-20      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC 3.459 9/26      | BROADCOM INC 3.459 9/26   | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    412000 | PA      | $410965.69    | 0.37%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| BCC 2017-2A A1R3 7/37        | BCC 2017-2A A1R3 7/37     | CUSIP: 05683HAW5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    415000 | PA      | $415980.23    | 0.37%             | 2037-07-25      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| OCTR 2021-11A AR 7/34        | OCTR 2021-11A AR 7/34     | CUSIP: 67514VAL3<br>LEI: 549300E51CF32RJNO651 | Long             | DBT              | USGSE             | US        |    425000 | PA      | $423937.50    | 0.38%             | 2034-07-20      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION     | SABINE PASS LIQU 5 3/27   | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    436000 | PA      | $439067.32    | 0.40%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SMB 2024-C A1A 6/52          | SMB 2024-C A1A 6/52       | CUSIP: 83206EAA5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    442951 | PA      | $455334.43    | 0.41%             | 2052-06-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | VERIZON COMM I 2.355 3/32 | CUSIP: 92343VGN8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    448000 | PA      | $395524.93    | 0.36%             | 2032-03-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| AT&T INC                     | AT&T INC 2.25 2/32        | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    450000 | PA      | $395445.93    | 0.36%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ARES1 2024-IND2 A 10/34      | ARES1 2024-IND2 A 10/34   | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    450000 | PA      | $450830.43    | 0.41%             | 2034-10-15      | Variable      | 5.19%                 | No            |                  2 | On Loan: No      |
| WCORE 2024-CORE A 11/41      | WCORE 2024-CORE A 11/41   | CUSIP: 951913AA0<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    465000 | PA      | $466165.57    | 0.42%             | 2041-11-15      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| STACR 2023-HQA3 M1 11/43     | STACR 2023-HQA3 M1 11/43  | CUSIP: 35564K3G2<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | DBT              | USGSE             | US        |    468846 | PA      | $471563.64    | 0.42%             | 2043-11-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELECTRIC POWER  | SOUTHWESTN EL P 1.65 3/26 | CUSIP: 845437BS0<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |    474000 | PA      | $471451.76    | 0.42%             | 2026-03-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                  | FRE DISCOUNT NT 0 1/26    | CUSIP: 313397RV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    475000 | PA      | $474307.29    | 0.43%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SMB 2022-A APT 11/54         | SMB 2022-A APT 11/54      | CUSIP: 78450FAA5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    477472 | PA      | $452262.08    | 0.41%             | 2054-11-16      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY 1.593 5/27    | MORGAN STANLEY 1.593 5/27 | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    481000 | PA      | $476870.92    | 0.43%             | 2027-05-04      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                   | ECOLAB INC 4.8 3/30       | CUSIP: 278865BE9<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    486000 | PA      | $499204.15    | 0.45%             | 2030-03-24      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| VMWARE INC                   | VMWARE LLC 2.2 8/31       | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    486000 | PA      | $432607.44    | 0.39%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| MSRM 2024-3 A7 7/54          | MSRM 2024-3 A7 7/54       | CUSIP: 61776QAM8<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    487158 | PA      | $494997.24    | 0.45%             | 2054-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                    | AMGEN INC 5.15 3/28       | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    488000 | PA      | $499686.66    | 0.45%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CIFC 2021-7A AR 1/35         | CIFC 2021-7A AR 1/35      | CUSIP: 12567HAQ5<br>LEI: 54930089HD7KU5NUS092 | Long             | DBT              | USGSE             | US        |    490000 | PA      | $490151.41    | 0.44%             | 2035-01-23      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| MF1 2021-FL7 A 10/36         | MF1 2021-FL7 A 10/36      | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    491470 | PA      | $491101.85    | 0.44%             | 2036-10-16      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| BSP 2018-15A A1R 7/37        | BSP 2018-15A A1R 7/37     | CUSIP: 08179MAN9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    492500 | PA      | $493881.46    | 0.44%             | 2037-07-15      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| AGL 2025-38A A1 1/38         | AGL 2025-38A A1 1/38      | CUSIP: 00852QAA9<br>LEI: 254900ZPMRHE5M6S8F18 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500493.50    | 0.45%             | 2038-01-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| AMCAR 2025-1 A2A 3/29        | AMCAR 2025-1 A2A 3/29     | CUSIP: 03067FAB6<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501137.38    | 0.45%             | 2029-03-19      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| AREIT 2025-CRE11 A 7/43      | AREIT 2025-CRE11 A 7/43   | CUSIP: 04002DAA9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501249.35    | 0.45%             | 2043-07-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BBCMS 2022-C16 A5 6/55       | BBCMS 2022-C16 A5 6/55    | CUSIP: 05552YAE6<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $498158.70    | 0.45%             | 2055-06-15      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| BDS 2025-FL16 A 7/43         | BDS 2025-FL16 A 7/43      | CUSIP: 05556XAA2<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500625.90    | 0.45%             | 2043-07-19      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| BX 2025-DELC A 12/42         | BX 2025-DELC A 12/42      | CUSIP: 05594MAA0<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501456.60    | 0.45%             | 2042-12-15      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| BSPRT 2025-FL12 A 1/43       | BSPRT 2025-FL12 A 1/43    | CUSIP: 05619BAA5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500765.58    | 0.45%             | 2043-01-17      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| BX 2025-ARIA C 12/42         | BX 2025-ARIA C 12/42      | CUSIP: 05619TAE8<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $504797.55    | 0.45%             | 2042-12-13      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| BALLY 2024-22A A1A 4/37      | BALLY 2024-22A A1A 4/37   | CUSIP: 05877GAA1<br>LEI: 254900XC0FEB91ZCO167 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501370.00    | 0.45%             | 2037-04-15      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| BBCMS 2017-C1 A4 2/50        | BBCMS 2017-C1 A4 2/50     | CUSIP: 07332VBD6<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $495125.55    | 0.45%             | 2050-02-15      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| BSP 2022-29A AR 1/38         | BSP 2022-29A AR 1/38      | CUSIP: 08186EAL2<br>LEI: 549300DICNUWMUKL3816 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $499628.58    | 0.45%             | 2038-01-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| BLUEM 2021-28A A1R 3/38      | BLUEM 2021-28A A1R 3/38   | CUSIP: 09630PAN3<br>LEI: 5493001GLQHON6UV2U40 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $502498.38    | 0.45%             | 2038-03-31      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| CGMS 2017-3A A1R2 10/37      | CGMS 2017-3A A1R2 10/37   | CUSIP: 14314FAY4<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500916.00    | 0.45%             | 2037-10-21      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| CGMS 2020-2A A1R2 1/35       | CGMS 2020-2A A1R2 1/35    | CUSIP: 14315GAW5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500492.00    | 0.45%             | 2035-01-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| CGCMT 2017-P8 AS 9/50        | CGCMT 2017-P8 AS 9/50     | CUSIP: 17326DAF9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $472142.00    | 0.42%             | 2050-09-15      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-RM4 A1 11/55       | EFMT 2025-RM4 A1 11/55    | CUSIP: 26847CAC9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $477723.30    | 0.43%             | 2055-11-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| AWPT 2021-13A A1R 7/34       | AWPT 2021-13A A1R 7/34    | CUSIP: 28622EAS7<br>LEI: 549300YZ3RIOTSOP0V95 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $499658.50    | 0.45%             | 2034-07-15      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| ELM19 2022-6A AR2 10/38      | ELM19 2022-6A AR2 10/38   | CUSIP: 29004JAW3<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500008.50    | 0.45%             | 2038-10-17      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| GSJP 2025-BEDS A 12/42       | GSJP 2025-BEDS A 12/42    | CUSIP: 362946AA3<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500970.90    | 0.45%             | 2042-12-15      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| KKR 40A AR 10/34             | KKR 40A AR 10/34          | CUSIP: 48254UAE5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500202.00    | 0.45%             | 2034-10-20      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| MED 2024-MOB A 5/41          | MED 2024-MOB A 5/41       | CUSIP: 55287BAA1<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $498794.65    | 0.45%             | 2041-05-15      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| OCP 2021-21A AR 1/38         | OCP 2021-21A AR 1/38      | CUSIP: 671000AL1<br>LEI: 2549000M7NBNQ7XU2038 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500050.00    | 0.45%             | 2038-01-20      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| NYC 2025-77C B 1/38          | NYC 2025-77C B 1/38       | CUSIP: 67123LAC8<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $503487.25    | 0.45%             | 2038-01-10      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| OCT48 2020-3A A1R2 1/38      | OCT48 2020-3A A1R2 1/38   | CUSIP: 67577UAS4<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501331.44    | 0.45%             | 2038-01-15      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| PMTLT 2025-INV12 A2 12/56    | PMTLT 2025-INV12 A2 12/56 | CUSIP: 73015KBE4<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501640.65    | 0.45%             | 2056-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PFMT 2025-6 A2 12/55         | PFMT 2025-6 A2 12/55      | CUSIP: 74388TAB9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $497460.95    | 0.45%             | 2055-12-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SDART 2022-7 C 3/31          | SDART 2022-7 C 3/31       | CUSIP: 80287FAE2<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $510160.20    | 0.46%             | 2031-03-17      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| SEMT 2025-13 A19 12/55       | SEMT 2025-13 A19 12/55    | CUSIP: 81750DAU7<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $502246.10    | 0.45%             | 2055-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| NWML 2023-IA A1R 4/38        | NWML 2023-IA A1R 4/38     | CUSIP: 81785EAL4<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501722.50    | 0.45%             | 2038-04-15      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| WHTPK 2021-1A A2R 1/35       | WHTPK 2021-1A A2R 1/35    | CUSIP: 96329YAQ0<br>LEI: 549300M54M5QSBMB3780 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $500382.50    | 0.45%             | 2035-01-20      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| WINDR 2024-1A A 4/37         | WINDR 2024-1A A 4/37      | CUSIP: 97317AAA9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    500000 | PA      | $501178.00    | 0.45%             | 2037-04-20      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| FHR 5507 FG 2/55             | FHR 5507 FG 2/55          | CUSIP: 3137HJPK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |    506063 | PA      | $510663.58    | 0.46%             | 2055-02-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| BX 2021-SDMF B 9/34          | BX 2021-SDMF B 9/34       | CUSIP: 12434CAG9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    510387 | PA      | $508680.75    | 0.46%             | 2034-09-15      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINE 4.375 4/26    | UNITED AIRLINE 4.375 4/26 | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    512000 | PA      | $511667.61    | 0.46%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HCA INC                      | HCA INC 4.125 6/29        | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    526000 | PA      | $524777.01    | 0.47%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS       | VERIZON COMM IN 4.78 2/35 | CUSIP: 92343VGY4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    531000 | PA      | $523953.79    | 0.47%             | 2035-02-15      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA 1.75 9/27     | ROYALTY PHARMA 1.75 9/27  | CUSIP: 78081BAJ2<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | US        |    534000 | PA      | $514786.94    | 0.46%             | 2027-09-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SUMITOMO TR&BK 2.8 3/27      | SUMITOMO TR&BK 2.8 3/27   | CUSIP: 86563VBA6<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | NUSS              | US        |    538000 | PA      | $531664.09    | 0.48%             | 2027-03-10      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                  | ORACLE CORP 2.95 4/30     | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    545000 | PA      | $503884.92    | 0.45%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP           | REALTY INCOME 3.25 1/31   | CUSIP: 756109AX2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    546000 | PA      | $521060.57    | 0.47%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA          | BANK NOVA SCOTIA 2.7 8/26 | CUSIP: 064159QE9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | NUSS              | US        |    548000 | PA      | $544043.87    | 0.49%             | 2026-08-03      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC           | STEEL DYNAMICS 1.65 10/27 | CUSIP: 858119BN9<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    557000 | PA      | $535537.06    | 0.48%             | 2027-10-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO/THE           | WALT DISNEY CO 2 9/29     | CUSIP: 254687FL5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    558000 | PA      | $522378.59    | 0.47%             | 2029-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMER C 2.592 4/31 | CUSIP: 06051GJB6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    562000 | PA      | $524233.77    | 0.47%             | 2031-04-29      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER     | ENTERPRISE PRODU 2.8 1/30 | CUSIP: 29379VBX0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    574000 | PA      | $545953.66    | 0.49%             | 2030-01-31      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMER C 3.593 7/28 | CUSIP: 06051GGR4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    576000 | PA      | $572298.75    | 0.52%             | 2028-07-21      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC             | T-MOBILE USA IN 2.25 2/26 | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    584000 | PA      | $582687.61    | 0.52%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| LCM 36A A1R 1/34             | LCM 36A A1R 1/34          | CUSIP: 50190LAL2<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    600000 | PA      | $599252.09    | 0.54%             | 2034-01-15      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| LCM 38A AR2 11/38            | LCM 38A AR2 11/38         | CUSIP: 50204HBG5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    600000 | PA      | $599404.00    | 0.54%             | 2038-11-04      | Variable      | 5.19%                 | No            |                  2 | On Loan: No      |
| MAGNE 2019-22A ARR 7/36      | MAGNE 2019-22A ARR 7/36   | CUSIP: 55954HAW2<br>LEI: 5493000081NBXWGGSW23 | Long             | DBT              | USGSE             | US        |    600000 | PA      | $600622.90    | 0.54%             | 2036-07-15      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| MAGNE 2025-51A A1 10/38      | MAGNE 2025-51A A1 10/38   | CUSIP: 559932AA6<br>LEI: 529900KAYH281VVPRN31 | Long             | DBT              | USGSE             | US        |    600000 | PA      | $599685.00    | 0.54%             | 2038-10-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| NEUB 2022-47A AR 4/35        | NEUB 2022-47A AR 4/35     | CUSIP: 64135DAJ4<br>LEI: 549300JRWXK6DFJD7D06 | Long             | DBT              | USGSE             | US        |    600000 | PA      | $600013.80    | 0.54%             | 2035-04-16      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| AMEREN ILLINOIS 3.8 5/28     | AMEREN ILLINOIS 3.8 5/28  | CUSIP: 02361DAS9<br>LEI: RC71E2BZ6UOMFPDJSE79 | Long             | DBT              | CORP              | US        |    603000 | PA      | $602013.64    | 0.54%             | 2028-05-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP              | CVS HEALTH CORP 1.75 8/30 | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    605000 | PA      | $538107.64    | 0.48%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE 2.947 2/28    | JPMORGAN CHASE 2.947 2/28 | CUSIP: 46647PCW4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    615000 | PA      | $607778.64    | 0.55%             | 2028-02-24      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC      | O'REILLY AUTOMOT 3.6 9/27 | CUSIP: 67103HAF4<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    634000 | PA      | $630928.24    | 0.57%             | 2027-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MF1 2025-FL17 A 2/40         | MF1 2025-FL17 A 2/40      | CUSIP: 55287HAA8<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    680000 | PA      | $679050.35    | 0.61%             | 2040-02-18      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON            | JOHNSON&JOHNSON 1.3 9/30  | CUSIP: 478160CQ5<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    706000 | PA      | $630609.37    | 0.57%             | 2030-09-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| JPMMT 2024-11 A6 4/55        | JPMMT 2024-11 A6 4/55     | CUSIP: 46659AAJ3<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    716164 | PA      | $719305.16    | 0.65%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| BOCA 2025-BOCA A 12/42       | BOCA 2025-BOCA A 12/42    | CUSIP: 05619RAA0<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    750000 | PA      | $751874.40    | 0.68%             | 2042-12-15      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| KSL 2025-MH A 12/42          | KSL 2025-MH A 12/42       | CUSIP: 48268VAA5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    750000 | PA      | $752204.55    | 0.68%             | 2042-12-15      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| LMNT 2025-FL3 A 7/43         | LMNT 2025-FL3 A 7/43      | CUSIP: 50208TAA9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    750000 | PA      | $751606.50    | 0.68%             | 2043-07-21      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| LQR 2025-CALI A 1/43         | LQR 2025-CALI A 1/43      | CUSIP: 50216WAA2<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    750000 | PA      | $750935.40    | 0.68%             | 2043-01-15      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| NSLT 2025-DA A1A 8/54        | NSLT 2025-DA A1A 8/54     | CUSIP: 639931AA2<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    750000 | PA      | $752980.16    | 0.68%             | 2054-08-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SCE REC FUND 4.453 3/36      | SCE REC FUND 4.453 3/36   | CUSIP: 78433LAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $804324.25    | 0.72%             | 2036-03-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SDART 2024-2 C 6/30          | SDART 2024-2 C 6/30       | CUSIP: 80286YAE2<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    800000 | PA      | $817834.72    | 0.74%             | 2030-06-17      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC         | WEC ENERGY GRO 5.15 10/27 | CUSIP: 92939UAJ5<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    824000 | PA      | $840937.64    | 0.76%             | 2027-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL 2.722 2/30    | CARRIER GLOBAL 2.722 2/30 | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    828000 | PA      | $781159.20    | 0.70%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BRAVO 2025-NQM4 A1 2/65      | BRAVO 2025-NQM4 A1 2/65   | CUSIP: 10570QAE1<br>LEI: 25490082TY9NA9XBGW19 | Long             | DBT              | USGSE             | US        |    831388 | PA      | $840911.28    | 0.76%             | 2065-02-25      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| CHASE 2024-7 A4 6/55         | CHASE 2024-7 A4 6/55      | CUSIP: 16159TAD3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | USGSE             | US        |    832126 | PA      | $837525.72    | 0.75%             | 2055-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CAS 2023-R07 2B1 9/43        | CAS 2023-R07 2B1 9/43     | CUSIP: 20753BAF9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    900000 | PA      | $964849.32    | 0.87%             | 2043-09-25      | Variable      | 8.37%                 | No            |                  2 | On Loan: No      |
| CAS 2022-R03 1M2 3/42        | CAS 2022-R03 1M2 3/42     | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $1030514.10   | 0.93%             | 2042-03-25      | Variable      | 7.37%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE 1.47 9/27     | JPMORGAN CHASE 1.47 9/27  | CUSIP: 46647PCP9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1012000 | PA      | $993801.72    | 0.89%             | 2027-09-22      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| TMCL 2021-2A A 4/46          | TMCL 2021-2A A 4/46       | CUSIP: 88315LAQ1<br>LEI: 549300X48KLHDDGPK024 | Long             | DBT              | USGSE             | US        |   1096667 | PA      | $1040332.81   | 0.94%             | 2046-04-20      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP             | DUKE ENERGY COR 3.15 8/27 | CUSIP: 26441CAX3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1099000 | PA      | $1086324.61   | 0.98%             | 2027-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMER C 1.734 7/27 | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1182000 | PA      | $1167153.87   | 1.05%             | 2027-07-22      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                 | ENBRIDGE INC 1.6 10/26    | CUSIP: 29250NBH7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | NUSS              | US        |   1185000 | PA      | $1164065.23   | 1.05%             | 2026-10-04      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| SFUEL 2025-CA A3 4/29        | SFUEL 2025-CA A3 4/29     | CUSIP: 85855EAC0<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |   1200000 | PA      | $1202429.64   | 1.08%             | 2029-04-20      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| FNR 2024-67 FA 9/54          | FNR 2024-67 FA 9/54       | CUSIP: 3136BSPM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |   1228385 | PA      | $1232549.80   | 1.11%             | 2054-09-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| FNR 2025-7 FD 9/54           | FNR 2025-7 FD 9/54        | CUSIP: 3136BUVT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |   2861144 | PA      | $2863199.01   | 2.57%             | 2054-09-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHR 5508 FG 2/55             | FHR 5508 FG 2/55          | CUSIP: 3137HJGH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |   2887520 | PA      | $2910438.17   | 2.62%             | 2055-02-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| GNR 2024-64 UF 4/54          | GNR 2024-64 UF 4/54       | CUSIP: 38384MZA8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | DBT              | USGSE             | US        |   2909148 | PA      | $2923377.30   | 2.63%             | 2054-04-20      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| US TREASURY N 3.625 12/30    | US TREASURY N 3.625 12/30 | CUSIP: 91282CPR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5727000 | PA      | $5705747.45   | 5.13%             | 2030-12-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B 3.5 12/28    | US TREASURY N/B 3.5 12/28 | CUSIP: 91282CPP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6007300 | PA      | $6002841.44   | 5.40%             | 2028-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N 3.375 12/27    | US TREASURY N 3.375 12/27 | CUSIP: 91282CPS4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13258800 | PA      | $13235234.60  | 11.90%            | 2027-12-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| N/A                          | US 5YR NOTE (CBT) Mar26   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -96 | NC      | $12323.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                          | US 2YR NOTE (CBT) Mar26   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -26 | NC      | $-9815.53     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                          | US 10YR NOTE (CBT)Mar26   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -22 | NC      | $8938.84      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                          | US 10yr Ultra Fut Mar26   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -13 | NC      | $6551.21      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                          | US LONG BOND(CBT) Mar26   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -8 | NC      | $3498.51      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                          | US ULTRA BOND CBT Mar26   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -2 | NC      | $3683.06      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** Tidal Trust IV

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer