# EDGAR Filing Document

**Accession Number:** 0000035315
**File Stem:** 0001752724-25-176760
**Filing Date:** 2025-7
**Character Count:** 72964
**Document Hash:** 544d097a827ee0e7ac57b0d19c3a1bd1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-176760.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001752724-25-176760

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY SALEM STREET TRUST
- **CENTRAL INDEX KEY:** 0000035315

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02105
- **FILM NUMBER:** 251146343

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY FIXED INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY FLEXIBLE BOND FUND
- **DATE OF NAME CHANGE:** 19860904

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY CORPORATE BOND FUND INC
- **DATE OF NAME CHANGE:** 19851225

## Series and Classes Contracts Data

### Fidelity Tactical Bond Fund (Series ID: S000075287)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000234189 | Fidelity Tactical Bond Fund                  | FBAGX           |
| C000234190 | Fidelity Advisor Tactical Bond Fund: Class Z | FBAPX           |
| C000234191 | Fidelity Advisor Tactical Bond Fund: Class A | FTKAX           |
| C000234192 | Fidelity Advisor Tactical Bond Fund: Class C | FTKCX           |
| C000234193 | Fidelity Advisor Tactical Bond Fund: Class M | FTYMX           |
| C000234194 | Fidelity Advisor Tactical Bond Fund: Class I | FBAHX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Tactical Bond Fund**

**May 31, 2025**

TBF-NPRT3-0725

1.9904499.103 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Asset-Backed Securities - 4.6%** | &nbsp;&nbsp;**Asset-Backed Securities - 4.6%** | &nbsp;&nbsp;**Asset-Backed Securities - 4.6%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| GRAND CAYMAN (UK OVERSEAS TER) - 0.8%  |  |  |
| Horizon Aircraft Finance Ltd Series 2019-1 Class A, 3.721% 7/15/2039 (b) | 147397 | 142384 |
| Thunderbolt III Aircraft Lease Ltd Series 2019-1 Class A, 3.671% 11/15/2039 (b) | 276919 | 267988 |
| TOTAL GRAND CAYMAN (UK OVERSEAS TER) |  | 410372 |
| UNITED STATES - 3.8%  |  |  |
| AASET Trust Series 2021-1A Class A, 2.95% 11/16/2041 (b) | 116334 | 109451 |
| AASET Trust Series 2021-2A Class A, 2.798% 1/15/2047 (b) | 170216 | 156487 |
| DB Master Finance LLC Series 2021-1A Class A23, 2.791% 11/20/2051 (b) | 241250 | 207945 |
| Domino's Pizza Master Issuer LLC Series 2021-1A Class A2II, 3.151% 4/25/2051 (b) | 923875 | 823551 |
| Planet Fitness Master Issuer LLC Series 2022-1A Class A2II, 4.008% 12/5/2051 (b) | 485000 | 441965 |
| Subway Funding LLC Series 2024-1A Class A23, 6.505% 7/30/2054 (b) | 27860 | 28282 |
| Subway Funding LLC Series 2024-1A Class A2I, 6.028% 7/30/2054 (b) | 52735 | 53218 |
| Subway Funding LLC Series 2024-1A Class A2II, 6.268% 7/30/2054 (b) | 31840 | 32419 |
| Subway Funding LLC Series 2024-3A Class A23, 5.914% 7/30/2054 (b) | 42785 | 41761 |
| Subway Funding LLC Series 2024-3A Class A2I, 5.246% 7/30/2054 (b) | 43780 | 42994 |
| Subway Funding LLC Series 2024-3A Class A2II, 5.566% 7/30/2054 (b) | 24875 | 24413 |
| TOTAL UNITED STATES |  | 1962486 |
| <br> **TOTAL ASSET-BACKED SECURITIES**<br> (Cost $2,354,501) |  | <br> **2372858** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Commercial Mortgage Securities - 2.1%** | &nbsp;&nbsp;**Commercial Mortgage Securities - 2.1%** | &nbsp;&nbsp;**Commercial Mortgage Securities - 2.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 2.1%  |  |  |
| BPR Trust Series 2022-OANA Class B, CME Term SOFR 1 month Index + 2.447%, 6.7757% 4/15/2037 (b)(c)(d) | 11000 | 10993 |
| BX Commercial Mortgage Trust Series 2022-LP2 Class B, CME Term SOFR 1 month Index + 1.3123%, 5.641% 2/15/2039 (b)(c)(d) | 70000 | 69781 |
| BX Commercial Mortgage Trust Series 2025-SPOT Class A, CME Term SOFR 1 month Index + 1.4434%, 5.7721% 4/15/2040 (b)(c)(d) | 100000 | 100012 |
| BX Trust Series 2022-IND Class C, CME Term SOFR 1 month Index + 2.29%, 6.6187% 4/15/2037 (b)(c)(d) | 189000 | 189000 |
| BX Trust Series 2022-IND Class D, CME Term SOFR 1 month Index + 2.839%, 7.1677% 4/15/2037 (b)(c)(d) | 7000 | 7000 |
| BX Trust Series 2025-DIME Class B, CME Term SOFR 1 month Index + 1.5%, 5.8287% 2/15/2035 (b)(c)(d) | 145000 | 143822 |
| BX Trust Series 2025-DIME Class C, CME Term SOFR 1 month Index + 1.75%, 6.0787% 2/15/2035 (b)(c)(d) | 94000 | 93236 |
| Life Financial Services Trust Series 2022-BMR2 Class B, CME Term SOFR 1 month Index + 1.7939%, 6.1226% 5/15/2039 (b)(c)(d) | 100000 | 91000 |
| Life Financial Services Trust Series 2022-BMR2 Class C, CME Term SOFR 1 month Index + 2.0931%, 6.4218% 5/15/2039 (b)(c)(d) | 100000 | 90000 |
| Life Financial Services Trust Series 2022-BMR2 Class D, CME Term SOFR 1 month Index + 2.5419%, 6.8706% 5/15/2039 (b)(c)(d) | 100000 | 89492 |
| OPEN Trust Series 2023-AIR Class A, CME Term SOFR 1 month Index + 3.0891%, 7.4178% 11/15/2040 (b)(c)(d) | 25737 | 25808 |
| OPEN Trust Series 2023-AIR Class B, CME Term SOFR 1 month Index + 3.838%, 8.1667% 11/15/2040 (b)(c)(d) | 80000 | 80000 |
| VLS Commercial Mortgage Trust Series 2020-LAB Class A, 2.13% 10/10/2042 (b) | 100000 | 82882 |
| TOTAL UNITED STATES |  | 1073026 |
| <br> **TOTAL COMMERCIAL MORTGAGE SECURITIES**<br> (Cost $1,098,110) |  | <br> **1073026** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fixed-Income Funds - 32.6%** | &nbsp;&nbsp;**Fixed-Income Funds - 32.6%** | &nbsp;&nbsp;**Fixed-Income Funds - 32.6%** |
|  | Shares | Value ($)<br>|
| Fidelity Floating Rate Central Fund (e) | 60923 | 5851620 |
| Fidelity High Income Central Fund (e) | 48857 | 5209149 |
| Fidelity International Credit Central Fund (e) | 67881 | 5564217 |
| <br> **TOTAL FIXED-INCOME FUNDS**<br> (Cost $17,150,865) |  | **16624986** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 3.9%** | &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 3.9%** | &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 3.9%** | &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 3.9%** |
|  |  | Principal<br> Amount (a)<br>| Value ($)<br>|
| BRAZIL - 1.0%  |  |  |  |
| Brazilian Federative Republic 10% 1/1/2027  | BRL | 1000000 | 165350 |
| Brazilian Federative Republic 10% 1/1/2033  | BRL | 1700000 | 246644 |
| Federative Republic of Brazil 5.625% 2/21/2047  |  | 140000 | 110828 |
| TOTAL BRAZIL |  |  | 522822 |
| COLOMBIA - 0.7%  |  |  |  |
| Colombian Republic 8% 11/14/2035  |  | 200000 | 200200 |
| Colombian Republic 8.75% 11/14/2053  |  | 200000 | 195099 |
| TOTAL COLOMBIA |  |  | 395299 |
| DOMINICAN REPUBLIC - 1.0%  |  |  |  |
| Dominican Republic Bond 4.875% 9/23/2032 (b) |  | 270000 | 246240 |
| Dominican Republic Bond 5.5% 2/22/2029 (b) |  | 250000 | 246625 |
| TOTAL DOMINICAN REPUBLIC |  |  | 492865 |
| JAPAN - 1.2%  |  |  |  |
| Japan Government 0.1% 12/20/2025  | JPY | 85800000 | 595028 |
| <br> **TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS**<br> (Cost $2,125,029) |  |  | <br> **2006014** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Municipal Securities - 1.1%** | &nbsp;&nbsp;**Municipal Securities - 1.1%** | &nbsp;&nbsp;**Municipal Securities - 1.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Illinois - 1.1%  |  |  |
| General Obligations - 1.1% |  |  |
| Chicago IL Brd Ed 6.319% 11/1/2029  | 60000 | 58642 |
| Chicago IL Brd Ed Series 2009G, 1.75% 12/15/2025  | 520000 | 509063 |
|  |  | 567705 |
| <br> **TOTAL MUNICIPAL SECURITIES**<br> (Cost $569,005) |  | <br> **567705** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Corporate Bonds - 9.1%** | &nbsp;&nbsp;**Non-Convertible Corporate Bonds - 9.1%** | &nbsp;&nbsp;**Non-Convertible Corporate Bonds - 9.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| GUATEMALA - 0.7%  |  |  |
| Communication Services - 0.7% |  |  |
| Wireless Telecommunication Services - 0.7% |  |  |
| Millicom International Cellular SA 4.5% 4/27/2031 (b) | 310000 | 275900 |
| Millicom International Cellular SA 6.25% 3/25/2029 (b) | 72000 | 71428 |
| TOTAL GUATEMALA |  | 347328 |
| ISRAEL - 0.8%  |  |  |
| Health Care - 0.8% |  |  |
| Pharmaceuticals - 0.8% |  |  |
| Teva Pharmaceutical Finance Netherlands III BV 6% 12/1/2032  | 200000 | 201788 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 200000 | 201990 |
| TOTAL ISRAEL |  | 403778 |
| MEXICO - 0.9%  |  |  |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Petroleos Mexicanos 7.69% 1/23/2050  | 650000 | 478660 |
| UNITED STATES - 6.7%  |  |  |
| Communication Services - 1.0% |  |  |
| Media - 1.0% |  |  |
| Charter Communications Operating LLC / Charter Communications Operating Capital 3.7% 4/1/2051  | 250000 | 160929 |
| Charter Communications Operating LLC / Charter Communications Operating Capital 5.5% 4/1/2063  | 130000 | 106402 |
| Sirius XM Radio LLC 4.125% 7/1/2030 (b) | 140000 | 127200 |
| Warnermedia Holdings Inc 5.05% 3/15/2042  | 10000 | 7192 |
| Warnermedia Holdings Inc 5.141% 3/15/2052  | 158000 | 102425 |
|  |  | 504148 |
| Energy - 1.7% |  |  |
| Oil, Gas & Consumable Fuels - 1.7% |  |  |
| Columbia Pipelines Operating Co LLC 5.927% 8/15/2030 (b) | 4000 | 4156 |
| Columbia Pipelines Operating Co LLC 6.036% 11/15/2033 (b) | 12000 | 12352 |
| Columbia Pipelines Operating Co LLC 6.497% 8/15/2043 (b) | 3000 | 3014 |
| Columbia Pipelines Operating Co LLC 6.544% 11/15/2053 (b) | 6000 | 6030 |
| Columbia Pipelines Operating Co LLC 6.714% 8/15/2063 (b) | 4000 | 4060 |
| Kinder Morgan Inc 3.6% 2/15/2051  | 600000 | 398244 |
| MPLX LP 5% 3/1/2033  | 100000 | 97047 |
| MPLX LP 5.65% 3/1/2053  | 100000 | 88549 |
| Targa Resources Corp 4.2% 2/1/2033  | 130000 | 118825 |
| Targa Resources Corp 4.95% 4/15/2052  | 130000 | 103854 |
|  |  | 836131 |
| Financials - 1.2% |  |  |
| Banks - 0.5% |  |  |
| Bank of America Corp 2.299% 7/21/2032 (d) | 280000 | 240234 |
| Consumer Finance - 0.7% |  |  |
| Capital One Financial Corp 5.468% 2/1/2029 (d) | 18000 | 18320 |
| Capital One Financial Corp 5.817% 2/1/2034 (d) | 32000 | 32418 |
| Capital One Financial Corp 7.624% 10/30/2031 (d) | 32000 | 35688 |
| Ford Motor Credit Co LLC 3.375% 11/13/2025  | 250000 | 248018 |
|  |  | 334444 |
| Financial Services - 0.0% |  |  |
| Corebridge Financial Inc 3.9% 4/5/2032  | 9000 | 8284 |
| Corebridge Financial Inc 4.35% 4/5/2042  | 2000 | 1640 |
| Corebridge Financial Inc 4.4% 4/5/2052  | 6000 | 4656 |
|  |  | 14580 |
| TOTAL FINANCIALS |  | 589258 |
| Health Care - 1.3% |  |  |
| Health Care Providers & Services - 1.3% |  |  |
| Centene Corp 4.625% 12/15/2029  | 120000 | 115560 |
| Prime Healthcare Foundation Inc 7% 12/1/2027  | 294000 | 298449 |
| Toledo Hospital/The Series 2018 B, 5.325% 11/15/2028  | 250000 | 244538 |
|  |  | 658547 |
| Industrials - 0.1% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| Boeing Co 6.259% 5/1/2027  | 9000 | 9251 |
| Boeing Co 6.298% 5/1/2029  | 12000 | 12621 |
| Boeing Co 6.388% 5/1/2031  | 9000 | 9603 |
| Boeing Co 6.528% 5/1/2034  | 10000 | 10674 |
| Boeing Co 6.858% 5/1/2054  | 14000 | 14931 |
| Boeing Co 7.008% 5/1/2064  | 14000 | 14955 |
|  |  | 72035 |
| Materials - 0.5% |  |  |
| Chemicals - 0.5% |  |  |
| Celanese US Holdings LLC 6.5% 4/15/2030  | 140000 | 141078 |
| Celanese US Holdings LLC 6.75% 4/15/2033  | 140000 | 136259 |
|  |  | 277337 |
| Real Estate - 0.4% |  |  |
| Diversified REITs - 0.1% |  |  |
| Piedmont Operating Partnership LP 6.875% 7/15/2029  | 21000 | 21738 |
| Piedmont Operating Partnership LP 9.25% 7/20/2028  | 39000 | 43067 |
|  |  | 64805 |
| Office REITs - 0.2% |  |  |
| Highwoods Realty LP 7.65% 2/1/2034  | 89000 | 98048 |
| Real Estate Management & Development - 0.1% |  |  |
| Brandywine Operating Partnership LP 8.875% 4/12/2029  | 28000 | 29817 |
| Residential REITs - 0.0% |  |  |
| American Homes 4 Rent LP 3.625% 4/15/2032  | 8000 | 7262 |
| American Homes 4 Rent LP 4.3% 4/15/2052  | 6000 | 4542 |
|  |  | 11804 |
| TOTAL REAL ESTATE |  | 204474 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| DPL Inc 4.35% 4/15/2029  | 270000 | 259862 |
| Multi-Utilities - 0.0% |  |  |
| Puget Energy Inc 4.224% 3/15/2032  | 15000 | 13822 |
| TOTAL UTILITIES |  | 273684 |
| TOTAL UNITED STATES |  | 3415614 |
| <br> **TOTAL NON-CONVERTIBLE CORPORATE BONDS**<br> (Cost $4,897,316) |  | <br> **4645380** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Preferred Securities - 1.8%** | &nbsp;&nbsp;**Preferred Securities - 1.8%** | &nbsp;&nbsp;**Preferred Securities - 1.8%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| CANADA - 1.8%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Enbridge Inc 5.75% 7/15/2080 (d) | 250000 | 246962 |
| Financials - 1.4% |  |  |
| Banks - 1.4% |  |  |
| Bank of Nova Scotia/The 4.9% (d)(f) | 690000 | 697732 |
| TOTAL CANADA |  | 944694 |
| <br> **TOTAL PREFERRED SECURITIES**<br> (Cost $938,306) |  | <br> **944694** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 44.4%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 44.4%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 44.4%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 44.4%** |
|  | Yield (%) (g) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bonds 2.875% 5/15/2052  | 4.05 | 409000 | 280979 |
| US Treasury Bonds 4.125% 8/15/2053  | 4.36 to 4.80 | 5589000 | 4886664 |
| US Treasury Bonds 4.25% 8/15/2054  | 4.63 to 4.98 | 2853400 | 2551564 |
| US Treasury Notes 3.5% 2/15/2033  | 3.52 to 3.57 | 930000 | 885643 |
| US Treasury Notes 3.875% 8/15/2033  | 4.58 to 4.77 | 3507000 | 3411379 |
| US Treasury Notes 4.125% 11/15/2032  | 3.86 to 4.00 | 3609000 | 3593070 |
| US Treasury Notes 4.375% 5/15/2034  | 4.23 to 4.53 | 6497000 | 6515274 |
| US Treasury Notes 4.5% 11/15/2033  | 4.29 | 200000 | 202984 |
| US Treasury Notes 4.625% 2/15/2035  | 4.41 | 300000 | 305537 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $23,133,398) |  |  | **22633094** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h)<br>(Cost $93,162)<br>| 4.32 | 93144 | **93162** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.8%**<br> (Cost $52,359,692)<br>| <br>**50960919** |
| **NET OTHER ASSETS (LIABILITIES) - 0.2%**  | **127390** |
| **NET ASSETS - 100.0%** | **51088309** |

---

**Currency Abbreviations**

BRL - Brazilian Real <br> JPY - Japanese Yen

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $4,442,889 or 8.7% of net assets.

(c) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(d) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(e) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(f) Security is perpetual in nature with no stated maturity date.

(g) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 1086370 | 6485905 | 7479113 | 20205 | - | - | 93162 | 93144 | 0.0% |
| Fidelity Floating Rate Central Fund | 5579905 | 374934 | - | 374953 | - | (103219) | 5851620 | 60923 | 0.3% |
| Fidelity High Income Central Fund | 3355686 | 1803362 | - | 203376 | - | 50101 | 5209149 | 48857 | 0.3% |
| Fidelity International Credit Central Fund | 3862392 | 1673554 | - | 173553 | - | 28271 | 5564217 | 67881 | 5.8% |
| Total | 13884353 | 10337755 | 7479113 | 772087 | - | (24847) | 16718148 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations, Foreign Government and Government Agency Obligations, Municipal Securities, Non-Convertible Corporate Bonds and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. Asset-Backed Securities and Commercial Mortgage Securities are valued by pricing services who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. For foreign debt securities, when significant market or security specific events arise, valuations may be determined in good faith in accordance with procedures adopted by the Board. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Salem Street Trust

- **b. Investment Company Act file number:** 811-02105

- **c. CIK number of Registrant:** 0000035315

- **d. LEI of Registrant:** S4W85DGKOEJ24DPRB829

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Tactical Bond Fund

- **b. EDGAR series identifier (if any):** S000075287

- **c. LEI of Series:** 5493006FOBKMPLHSZB51

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $51256883.72

**Total Liabilities:** $281763.08

**Net Assets:** $50975120.64

**Cash Not Reported:** $83951.70

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 222.82256969 | **1-Year:** 1296.26536406 | **5-Year:** 6638.62003570 | **10-Year:** 11041.50841954 | **30-Year:** 8035.31723058

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

- **3-Month:** 128.04533367 | **1-Year:** 404.74234741 | **5-Year:** 540.02002588 | **10-Year:** 184.30937650 | **30-Year:** 45.79117200

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234190 | -0.22%               | 0.22%                | -0.43%               |
| Class ID C000234192 | -0.42%               | 0.25%                | -0.52%               |
| Class ID C000234189 | -0.34%               | 0.33%                | -0.43%               |
| Class ID C000234194 | -0.34%               | 0.33%                | -0.43%               |
| Class ID C000234193 | -0.36%               | 0.31%                | -0.45%               |
| Class ID C000234191 | -0.36%               | 0.31%                | -0.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11976.51                | $-366899.47                                |
| Month 2  | $2384.82                 | $-130662.11                                |
| Month 3  | $2195.78                 | $-365535.16                                |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate Bond Index

- **Index Identifier:** 19808143

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AASET 2021-2 TR                                                                    | AASET 2021-2 TR 2.798% 01/15/2047 144A                                                          | CUSIP: 00258BAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    170216 | PA      | $156486.67    | 0.31%             | 2047-01-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                          | BOEING CO 7.008% 05/01/2064                                                                     | CUSIP: 097023DU6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14955.16     | 0.03%             | 2064-05-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                          | BOEING CO 6.388% 05/01/2031                                                                     | CUSIP: 097023DR3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9602.77      | 0.02%             | 2031-05-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE FOUNDATION INC                                                    | PRIME HEALTHCARE FOUNDATION INC 7% 12/01/2027                                                   | CUSIP: 74166AAA0<br>LEI: 984500CA2F5A8B78A337 | Long             | DBT              | CORP              | US        |    294000 | PA      | $298449.34    | 0.59%             | 2027-12-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERSHIP LP                                                     | BRANDYWINE OPER PARTNERSHIP LP 8.875% 04/12/2029                                                | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29816.58     | 0.06%             | 2029-04-12      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2025-SPOT                                             | BX COMMERCIAL MORTGAGE TRUST 2025-SPOT TSFR1M+144.34 04/15/2040 144A                            | CUSIP: 12433FAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100011.63    | 0.20%             | 2040-04-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                          | BOEING CO 6.259% 05/01/2027                                                                     | CUSIP: 097023DP7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9250.77      | 0.02%             | 2027-05-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                           | WARNERMEDIA HOLDINGS INC 5.05% 03/15/2042                                                       | CUSIP: 55903VBD4<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7193.28      | 0.01%             | 2042-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HORIZON AIRCRAFT FINANCE LTD                                                       | HORIZON AIRCRAFT FINANCE LTD 2019-1 A 3.721% 07/15/2039 144A                                    | CUSIP: 44040HAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    147397 | PA      | $142383.95    | 0.28%             | 2039-07-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TOLEDO HOSPITAL/THE                                                                | TOLEDO HOSPITAL/THE 5.325% 11/15/2028                                                           | CUSIP: 889184AC1<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244537.65    | 0.48%             | 2028-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BPR TRUST 2022                                                                     | BPR TRUST 2022 TSFR1M+229.667 04/15/2024 144A                                                   | CUSIP: 05592DAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11000 | PA      | $10993.13     | 0.02%             | 2037-04-15      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTNERSHIP LP                                                  | PIEDMONT OPERATING PARTNERSHIP LP 6.875% 07/15/2029                                             | CUSIP: 720198AJ9<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21738.04     | 0.04%             | 2029-07-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2022-IND                                                                  | BX TRUST 2022-IND TSFR1M+274.6 04/15/2024 144A                                                  | CUSIP: 05609WAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7000 | PA      | $6999.99      | 0.01%             | 2037-04-15      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL FIN NETH III B V                                               | TEVA PHARMACEUTICAL FIN NETH III B V 6% 12/01/2032                                              | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $201788.80    | 0.40%             | 2032-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL    | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 5.5% 04/01/2063 | CUSIP: 161175CL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $106402.10    | 0.21%             | 2063-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                | COLUMBIA PIPELINES OPERATING CO LLC 6.036% 11/15/2033 144A                                      | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $12351.69     | 0.02%             | 2033-11-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 4.625% 02/15/2035                                                                     | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $305536.71    | 0.60%             | 2035-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                | COLUMBIA PIPELINES OPERATING CO LLC 5.927% 08/15/2030 144A                                      | CUSIP: 19828TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000 | PA      | $4155.98      | 0.01%             | 2030-08-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                | COLUMBIA PIPELINES OPERATING CO LLC 6.544% 11/15/2053 144A                                      | CUSIP: 19828TAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6029.99      | 0.01%             | 2053-11-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT LP                                                           | AMERICAN HOMES 4 RENT LP 3.625% 04/15/2032                                                      | CUSIP: 02666TAE7<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7262.24      | 0.01%             | 2032-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| SUBWAY FDG LLC ISSUER                                                              | SUBWAY FDG LLC ISSUER 6.028% 07/30/2054 144A                                                    | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     52735 | PA      | $53218.28     | 0.10%             | 2054-07-30      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR SA                                                          | MILLICOM INTL CELLULAR SA 4.5% 04/27/2031 144A                                                  | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    310000 | PA      | $275900.00    | 0.54%             | 2031-04-27      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| Fidelity Central Investment Portfolios II LLC                                      | Fidelity International Credit Central Fund                                                      | CUSIP: 31607D202<br>LEI: 0VPAEPVECBYQ0ULYZJ60 | Long             | EC               | RF                | US        |     67881 | NS      | $5564216.80   | 10.92%            |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                | COLUMBIA PIPELINES OPERATING CO LLC 6.497% 08/15/2043 144A                                      | CUSIP: 19828TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3000 | PA      | $3014.09      | 0.01%             | 2043-08-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| Fidelity Central Investment Portfolios LLC                                         | Fidelity Floating Rate Central Fund                                                             | CUSIP: 31606V708<br>LEI: S2V1M15I679NQK6BNY65 | Long             | EC               | RF                | US        |     60492 | NS      | $5810244.02   | 11.40%            |  |  |  | No            |                  1 | On Loan: No      |
| OPEN TR 2023-AIR                                                                   | OPEN TR 2023-AIR TSFR1M+383.799 10/15/2028 144A                                                 | CUSIP: 68373BAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80000 | PA      | $80000.00     | 0.16%             | 2040-11-15      | Variable      | 0.08%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 4.125% 11/15/2032                                                                     | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3709000 | PA      | $3692628.25   | 7.24%             | 2032-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                | COLUMBIA PIPELINES OPERATING CO LLC 6.714% 08/15/2063 144A                                      | CUSIP: 19828TAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000 | PA      | $4060.07      | 0.01%             | 2063-08-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| Fidelity Central Investment Portfolios LLC                                         | Fidelity High Income Central Fund                                                               | CUSIP: 31606V690<br>LEI: S2V1M15I679NQK6BNY65 | Long             | EC               | RF                | US        |     48547 | NS      | $5176057.58   | 10.15%            |  |  |  | No            |                  1 | On Loan: No      |
| SUBWAY FDG LLC ISSUER                                                              | SUBWAY FDG LLC ISSUER 6.268% 07/30/2054 144A                                                    | CUSIP: 864300AC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     31840 | PA      | $32419.46     | 0.06%             | 2054-07-30      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| THUNDERBOLT III AIRCRAFT LEASE LTD                                                 | THUNDERBOLT III AIRCRAFT LEASE LTD 2019-1 A 3.671% 11/15/2039 144A                              | CUSIP: 88607AAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    276919 | PA      | $267988.17    | 0.53%             | 2039-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                                                | SIRIUS XM RADIO INC 4.125% 07/01/2030 144A                                                      | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    140000 | PA      | $127199.62    | 0.25%             | 2030-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| JAPAN GOVERNMENT OF                                                                | JAPAN GOVERNMENT OF 0.1% 12/20/2025                                                             | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |  85800000 | PA      | $595027.87    | 1.17%             | 2025-12-20      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                                                         | CAPITAL ONE FINANCIAL CORP 5.817%/VAR 02/01/2034                                                | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32418.07     | 0.06%             | 2034-02-01      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 4.4% 04/05/2052                                                        | CUSIP: 21871XAM1<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4656.40      | 0.01%             | 2052-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                                | PETROLEOS MEXICANOS 7.69% 01/23/2050                                                            | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    650000 | PA      | $478660.00    | 0.94%             | 2050-01-23      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-DIME                                                                 | BX TRUST 2025-DIME B TSFR1M+150 02/15/2030 144A                                                 | CUSIP: 05613UAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145000 | PA      | $143821.88    | 0.28%             | 2035-02-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                                               | COLOMBIA REPUBLIC OF 8% 11/14/2035                                                              | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $200200.00    | 0.39%             | 2035-11-14      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 3.5% 02/15/2033                                                                       | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    930000 | PA      | $885643.36    | 1.74%             | 2033-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BRAZIL, FEDERATIVE REPUBLIC OF                                                     | BRAZIL FEDERATIVE REPUBLIC OF 5.625% 02/21/2047                                                 | CUSIP: 105756BY5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    140000 | PA      | $110827.50    | 0.22%             | 2047-02-21      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                                            | BANK OF NOVA SCOTIA T5Y+NA PERP                                                                 | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EP               | CORP              | CA        |    690000 | PA      | $689555.02    | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                           | NOTA DO TESOURO NACIONAL 10% 01/01/2033                                                         | CUSIP: N/A<br>LEI: 254900ZFY40OYEADAP90       | Long             | DBT              | NUSS              | BR        |   1700000 | PA      | $246644.16    | 0.48%             | 2033-01-01      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 4.375% 05/15/2034                                                                     | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6497000 | PA      | $6515272.81   | 12.78%            | 2034-05-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                            | MPLX LP 5.65% 03/01/2053                                                                        | CUSIP: 55336VBW9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88549.09     | 0.17%             | 2053-03-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY BOND                                                        | UNITED STATES TREASURY BOND 2.875% 05/15/2052                                                   | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    409000 | PA      | $280979.81    | 0.55%             | 2052-05-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD ED                                                                  | CHICAGO IL BOE 1.75% 12/15/25                                                                   | CUSIP: 167505KK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $509062.74    | 1.00%             | 2025-12-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                                                         | CAPITAL ONE FINANCIAL CORP 5.468%/VAR 02/01/2029                                                | CUSIP: 14040HCX1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18319.80     | 0.04%             | 2029-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| AASET 2021-1 TR                                                                    | AASET 2021-1 TR 2.95% 11/16/2041 144A                                                           | CUSIP: 00038PAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    116334 | PA      | $109450.99    | 0.21%             | 2041-11-16      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| PLANET FITNESS MASTER ISSUER LLC 18-1A                                             | PLANET FITNESS MASTER ISSUER LLC 18-1A 4.008% 12/05/2051 144A                                   | CUSIP: 72703PAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    485000 | PA      | $441965.27    | 0.87%             | 2051-12-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC DEL                                                              | KINDER MORGAN INC DEL 3.6% 02/15/2051                                                           | CUSIP: 49456BAT8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    600000 | PA      | $398243.92    | 0.78%             | 2051-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY BOND                                                        | UNITED STATES TREASURY BOND 4.25% 08/15/2054                                                    | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2735400 | PA      | $2446045.97   | 4.80%             | 2054-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| SUBWAY FDG LLC ISSUER                                                              | SUBWAY FDG LLC ISSUER 5.246% 07/30/2054 144A                                                    | CUSIP: 864300AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     43780 | PA      | $42993.79     | 0.08%             | 2054-07-30      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DB MASTER FIN LLC                                                                  | DB MASTER FIN LLC 21-1A A23 2.791% 11/20/2051 144A                                              | CUSIP: 233046AS0<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-CBDO         | CORP              | US        |    241250 | PA      | $207944.83    | 0.41%             | 2051-11-20      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT LP                                                           | AMERICAN HOMES 4 RENT LP 4.3% 04/15/2052                                                        | CUSIP: 02666TAF4<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4542.77      | 0.01%             | 2052-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL FINANCE NETHERLANDS IV BV                                      | TEVA PHARMACEUTICAL FINANCE NETHERLANDS IV BV 5.75% 12/01/2030                                  | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $201989.52    | 0.40%             | 2030-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DPL INC                                                                            | DPL INC 4.35% 04/15/2029                                                                        | CUSIP: 233293AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $259862.13    | 0.51%             | 2029-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                           | NOTA DO TESOURO NACIONAL 10% 01/01/2027                                                         | CUSIP: N/A<br>LEI: 254900ZFY40OYEADAP90       | Long             | DBT              | NUSS              | BR        |   1000000 | PA      | $165349.89    | 0.32%             | 2027-01-01      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| SUBWAY FDG LLC ISSUER                                                              | SUBWAY FDG LLC ISSUER 6.505% 07/30/2054 144A                                                    | CUSIP: 864300AE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     27860 | PA      | $28281.56     | 0.06%             | 2054-07-30      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| DOMINOS PIZZA MASTER ISSUER LL DOMINOS SPV CDN HLDG CO INC DOMINOS PIZZA DISTR LLC | DOMINOS PIZZA MASTER ISR LLC 3.151% 04/25/2051 144A                                             | CUSIP: 25755TAP5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    923875 | PA      | $823550.58    | 1.62%             | 2051-04-25      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                          | BOEING CO 6.298% 05/01/2029                                                                     | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12621.48     | 0.02%             | 2029-05-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| TARGA RES CORP                                                                     | TARGA RES CORP 4.2% 02/01/2033                                                                  | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    130000 | PA      | $118824.72    | 0.23%             | 2033-02-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                          | BOEING CO 6.528% 05/01/2034                                                                     | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10673.72     | 0.02%             | 2034-05-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                                                       | Fidelity Cash Central Fund                                                                      | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |     93144 | NS      | $93162.86     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST 2022                                                 | LIFE FINANCIAL SERVICES TRUST 2022 TSFR1M+254.191 05/15/2039 144A                               | CUSIP: 53218DAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $89491.99     | 0.18%             | 2039-05-15      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                                                         | CAPITAL ONE FINANCIAL CORP 7.624%/VAR 10/30/2031                                                | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     32000 | PA      | $35687.76     | 0.07%             | 2031-10-30      | Variable      | 0.08%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-DIME                                                                 | BX TRUST 2025-DIME VAR 02/15/2030 144A                                                          | CUSIP: 05613UAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     94000 | PA      | $93236.25     | 0.18%             | 2035-02-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTNERSHIP LP                                                  | PIEDMONT OPERATING PARTNERSHIP LP 9.25% 07/20/2028                                              | CUSIP: 720198AG5<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |     39000 | PA      | $43066.99     | 0.08%             | 2028-07-20      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                                                        | BANK OF AMERICA CORPORATION 2.299%/VAR 07/21/2032                                               | CUSIP: 06051GKA6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    280000 | PA      | $240233.99    | 0.47%             | 2032-07-21      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                            | MPLX LP 5% 03/01/2033                                                                           | CUSIP: 55336VBV1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97046.88     | 0.19%             | 2033-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 3.9% 04/05/2032                                                        | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8284.28      | 0.02%             | 2032-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                           | FORD MTR CR CO LLC 3.375% 11/13/2025                                                            | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248018.26    | 0.49%             | 2025-11-13      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 4.5% 11/15/2033                                                                       | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $202984.38    | 0.40%             | 2033-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                                               | COLOMBIA REPUBLIC OF 8.75% 11/14/2053                                                           | CUSIP: 195325EM3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $195100.00    | 0.38%             | 2053-11-14      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| OPEN TR 2023-AIR                                                                   | OPEN TR 2023-AIR TSFR1M+308.92 10/15/2028 144A                                                  | CUSIP: 68373BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25737 | PA      | $25807.95     | 0.05%             | 2040-11-15      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| SUBWAY FDG LLC ISSUER                                                              | SUBWAY FDG LLC ISSUER 5.914% 07/30/2054 144A                                                    | CUSIP: 864300AL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     42785 | PA      | $41760.53     | 0.08%             | 2054-07-30      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 4.35% 04/05/2042                                                       | CUSIP: 21871XAK5<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1639.65      | 0.00%             | 2042-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST 2022                                                 | LIFE FINANCIAL SERVICES TRUST 2022 TSFR1M+179.391 05/15/2039 144A                               | CUSIP: 53218DAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $91000.00     | 0.18%             | 2039-05-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                                 | DOMINICAN REPUBLIC 5.5% 02/22/2029 144A                                                         | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    250000 | PA      | $246625.00    | 0.48%             | 2029-02-22      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                                                   | PUGET ENERGY INC 4.224% 03/15/2032                                                              | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13821.78     | 0.03%             | 2032-03-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR SA                                                          | MILLICOM INTL CELLULAR SA 6.25% 03/25/2029 144A                                                 | CUSIP: 600814AQ0<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |     72000 | PA      | $71427.60     | 0.14%             | 2029-03-25      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                                 | DOMINICAN REPUBLIC 4.875% 09/23/2032 144A                                                       | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    270000 | PA      | $246240.00    | 0.48%             | 2032-09-23      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY BOND                                                        | UNITED STATES TREASURY BOND 4.125% 08/15/2053                                                   | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5589000 | PA      | $4886663.57   | 9.59%             | 2053-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2022-IND                                                                  | BX TRUST 2022-IND TSFR1M+219.7 04/15/2024 144A                                                  | CUSIP: 05609WAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    189000 | PA      | $188999.71    | 0.37%             | 2037-04-15      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP DEL                                                                   | CENTENE CORP 4.625% 12/15/2029                                                                  | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115560.12    | 0.23%             | 2029-12-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SUBWAY FDG LLC ISSUER                                                              | SUBWAY FDG LLC ISSUER 5.566% 07/30/2054 144A                                                    | CUSIP: 864300AJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     24875 | PA      | $24413.42     | 0.05%             | 2054-07-30      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                           | WARNERMEDIA HOLDINGS INC 5.141% 03/15/2052                                                      | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    158000 | PA      | $102424.78    | 0.20%             | 2052-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL    | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 3.7% 04/01/2051 | CUSIP: 161175BV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $160928.70    | 0.32%             | 2051-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CELANESE US HLDGS LLC                                                              | CELANESE US HLDGS LLC 6.75% 04/15/2033                                                          | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    140000 | PA      | $136259.21    | 0.27%             | 2033-04-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| HIGHWOODS REALTY LP                                                                | HIGHWOODS REALTY LP 7.65% 02/01/2034                                                            | CUSIP: 431282AU6<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              | CORP              | US        |     89000 | PA      | $98047.59     | 0.19%             | 2034-02-01      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD ED                                                                  | CHICAGO ILL BRD ED QUALIFIED SCH CONST BD                                                       | CUSIP: 167505NG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $58642.48     | 0.12%             | 2029-11-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                          | BOEING CO 6.858% 05/01/2054                                                                     | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14931.12     | 0.03%             | 2054-05-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2021-VINO                                             | BX COMMERCIAL MORTGAGE TRUST 22-LP2 B TSFR1M+126.27 02/15/2039 144A                             | CUSIP: 05610HAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70000 | PA      | $69781.26     | 0.14%             | 2039-02-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| TARGA RES CORP                                                                     | TARGA RES CORP 4.95% 04/15/2052                                                                 | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    130000 | PA      | $103854.01    | 0.20%             | 2052-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                       | ENBRIDGE INC 5.75%/VAR 07/15/2080                                                               | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EP               | CORP              | CA        |    250000 | PA      | $241521.54    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| CELANESE US HLDGS LLC                                                              | CELANESE US HLDGS LLC 6.5% 04/15/2030                                                           | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141077.30    | 0.28%             | 2030-04-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| VLS COMMERCIAL MORTGAGE TRUST 2020                                                 | VLS COMMERCIAL MORTGAGE TRUST 2020 2.13% 10/10/2042 144A                                        | CUSIP: 92858TAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $82881.98     | 0.16%             | 2042-10-10      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST 2022                                                 | LIFE FINANCIAL SERVICES TRUST 2022-BMR2 C TSFR1M+209.31 05/15/2039 144A                         | CUSIP: 53218DAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $90000.00     | 0.18%             | 2039-05-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 3.875% 08/15/2033                                                                     | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3507000 | PA      | $3411379.47   | 6.69%             | 2033-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Laura M. Del Prato

**Signature:** Laura M. Del Prato

**Name of Signer:** Laura M. Del Prato

**Title:** President and Treasurer