# EDGAR Filing Document

**Accession Number:** 0001648403
**File Stem:** 0000940400-26-026129
**Filing Date:** 2026-6
**Character Count:** 178223
**Document Hash:** cd81451da0aad58c3fa518052e8c8b11
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-026129.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0000940400-26-026129

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus ETF Trust II
- **CENTRAL INDEX KEY:** 0001648403

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23078
- **FILM NUMBER:** 261128312

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-593-4383

**MAIL ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Virtus EFT Trust II
- **DATE OF NAME CHANGE:** 20150717

## Series and Classes Contracts Data

### Virtus Newfleet Short Duration Core Plus Bond ETF (Series ID: S000082804)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000246126 | Virtus Newfleet Short Duration Core Plus Bond ETF | SDCP            |

## Nport-Ex

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF

April 30, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **ASSET BACKED SECURITIES – 30.5%** |  |  |
| ACM Auto Trust, Class A, Series 2025-2A, 5.55%, 06/20/28<sup>(1)</sup> | $14515 | $14540 |
| ACM Auto Trust, Class A, Series 2025-3A, 5.01%, 01/22/30<sup>(1)</sup> | 13017 | 13002 |
| Affirm Asset Securitization Trust, Class A, Series 2025-X1, 5.08%, 04/15/30<sup>(1)</sup> | 931 | 931 |
| Affirm Master Trust, Class A, Series 2025-3A, 4.45%, 10/16/34<sup>(1)</sup> | 130000 | 129711 |
| American Credit Acceptance Receivables Trust, Class C, Series 2025-1, 5.09%, 08/12/31<sup>(1)</sup> | 30000 | 30157 |
| American Credit Acceptance Receivables Trust, Class C, Series 2026-1, 4.55%, 01/12/33<sup>(1)</sup> | 40000 | 39817 |
| American Express Credit Account Master Trust, Class A, Series 2025-5, 4.51%, 07/15/32 | 125000 | 126187 |
| Amur Equipment Finance Receivables XV LLC, Class D, Series 2025-1A, 5.68%, 08/20/32<sup>(1)</sup> | 35000 | 35399 |
| Auxilior Term Funding LLC, Class C, Series 2023-1A, 6.50%, 11/15/30<sup>(1)</sup> | 120000 | 122483 |
| Bridgecrest Lending Auto Securitization Trust, Class C, Series 2025-1, 5.15%, 12/17/29 | 25000 | 25183 |
| Bridgecrest Lending Auto Securitization Trust, Class C, Series 2026-1, 4.44%, 11/17/31 | 40000 | 39681 |
| Bridgecrest Lending Auto Securitization Trust, Class D, Series 2025-2, 5.62%, 03/17/31 | 30000 | 30390 |
| CARDS II Trust, Class A, Series 2026-1A (Canada), 4.24%, (SOFR + 0.60%), 04/15/31<sup>(1)(2)</sup> | 40000 | 40034 |
| Carmax Select Receivables Trust, Class C, Series 2025-B, 4.83%, 06/16/31 | 100000 | 100228 |
| Carvana Auto Receivables Trust, Class B, Series 2021-P3, 1.42%, 08/10/27 | 60000 | 59374 |
| Carvana Auto Receivables Trust, Class C, Series 2023-N4, 6.59%, 02/11/30<sup>(1)</sup> | 200000 | 203508 |
| CPS Auto Receivables Trust, Class C, Series 2024-A, 5.74%, 04/15/30<sup>(1)</sup> | 21506 | 21607 |
| CPS Auto Receivables Trust, Class C, Series 2025-A, 5.25%, 04/15/31<sup>(1)</sup> | 30000 | 30242 |
| Dext ABS LLC, Class B, Series 2023-2, 6.41%, 05/15/34<sup>(1)</sup> | 30000 | 30286 |
| Discover Card Execution Note Trust, Class A, Series 2023-A2, 4.93%, 06/15/28 | 205000 | 205268 |
| Drive Auto Receivables Trust, Class C, Series 2024-1, 5.43%, 11/17/31 | 25000 | 25333 |
| DT Auto Owner Trust, Class C, Series 2023-3A, 6.40%, 05/15/29<sup>(1)</sup> | 121364 | 122243 |
| Elara HGV Timeshare Issuer LLC, Class A, Series 2023-A, 6.16%, 02/25/38<sup>(1)</sup> | 93031 | 95577 |
| Exeter Automobile Receivables Trust, Class B, Series 2024-5A, 4.48%, 04/16/29 | 25795 | 25823 |
| Exeter Automobile Receivables Trust, Class C, Series 2026-2A, 4.91%, 08/16/32 | 40000 | 39993 |
| Exeter Automobile Receivables Trust, Class D, Series 2025-3A, 5.57%, 10/15/31 | 40000 | 40395 |
| FinBe USA Trust, Class A, Series 2025-1A, 5.70%, 12/15/28<sup>(1)</sup> | 12156 | 12158 |
| First Investors Auto Owner Trust, Class B, Series 2026-1A, 4.81%, 07/15/32<sup>(1)</sup> | 40000 | 40197 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **ASSET BACKED SECURITIES (continued)** |  |  |
| Flagship Credit Auto Trust, Class B, Series 2024-3, 5.35%, 07/16/29<sup>(1)</sup> | $30000 | $30060 |
| GLS Auto Select Receivables Trust, Class A3, Series 2023-2A, 6.38%, 02/15/29<sup>(1)</sup> | 300000 | 302579 |
| GLS Auto Select Receivables Trust, Class C, Series 2024-3A, 5.92%, 08/15/30<sup>(1)</sup> | 30000 | 30734 |
| Greensky Home Improvement Issuer Trust, Class A2, Series 2024-2, 5.25%, 10/27/59<sup>(1)</sup> | 6162 | 6171 |
| Hilton Grand Vacations Trust, Class A, Series 2024-2A, 5.50%, 03/25/38<sup>(1)</sup> | 36916 | 37548 |
| Hinnt, Class A, Series 2024-A, 5.49%, 03/15/43<sup>(1)</sup> | 36533 | 37112 |
| Huntington Bank Auto Credit-Linked Notes, Class B1, Series 2024-1, 6.15%, 05/20/32<sup>(1)</sup> | 7122 | 7219 |
| LAD Auto Receivables Trust, Class C, Series 2024-3A, 4.93%, 03/15/30<sup>(1)</sup> | 35000 | 35189 |
| LAD Auto Receivables Trust, Class D, Series 2025-1A, 5.52%, 05/17/32<sup>(1)</sup> | 30000 | 30342 |
| LBZST, Class A, Series 2025-B, 5.57%, 06/17/30 | 56024 | 56096 |
| Lendbuzz Securitization Trust, Class A2, Series 2024-2A, 5.99%, 05/15/29<sup>(1)</sup> | 9753 | 9815 |
| Lendbuzz Securitization Trust, Class A2, Series 2025-1A, 5.10%, 10/15/30<sup>(1)</sup> | 59780 | 59958 |
| Lendmark Funding Trust, Class A, Series 2025-3A, 4.51%, 05/21/35<sup>(1)</sup> | 50000 | 49671 |
| Lobel Automobile Receivables Trust 2026-1, Class A, Series 2026-1, 4.88%, 10/16/28<sup>(1)</sup> | 40000 | 40004 |
| Mariner Finance Issuance, Class A, Series 2025-AA, 4.98%, 05/20/38<sup>(1)</sup> | 65000 | 65411 |
| Marlette Funding Trust, Class B, Series 2024-1A, 6.07%, 07/17/34<sup>(1)</sup> | 7197 | 7216 |
| Metronet Infrastructure Issuer LLC, Class A2, Series 2025-2A, 5.40%, 08/20/55<sup>(1)</sup> | 30000 | 30274 |
| MMP Capital LLC, Class B, Series 2025-A, 5.72%, 12/15/31<sup>(1)</sup> | 35000 | 35300 |
| Momnt Technologies Trust, Class A, Series 2023-1A, 6.92%, 03/20/45<sup>(1)</sup> | 1498 | 1500 |
| Nmef Funding, Class A2, Series 2024-A, 5.15%, 12/15/31<sup>(1)</sup> | 21450 | 21560 |
| Oaktree Abf Equipment St LLC, Class B, Series 2026-1A, 4.91%, 10/17/33<sup>(1)</sup> | 40000 | 39887 |
| Octane Receivables Trust, Class B, Series 2024-1A, 5.66%, 05/20/30<sup>(1)</sup> | 25000 | 25246 |
| OneMain Financial Issuance Trust, Class A, Series 2022-3A, 5.94%, 05/15/34<sup>(1)</sup> | 13795 | 13844 |
| OneMain Financial Issuance Trust, Class B, Series 2025-1A, 5.05%, 07/14/38<sup>(1)</sup> | 30000 | 30063 |
| Oportun Issuance Trust, Class A, Series 2021-C, 2.18%, 10/08/31<sup>(1)</sup> | 58757 | 58006 |
| Oportun Issuance Trust, Class B, Series 2024-2, 5.83%, 02/09/32<sup>(1)</sup> | 7898 | 7902 |
| Own Equipment Fund I LLC, Class A, Series 2024-2M, 5.70%, 12/20/32<sup>(1)</sup> | 22751 | 22879 |
| Pawneee Equipment Receivables LLC, Class B, Series 2022-1, 5.40%, 07/17/28<sup>(1)</sup> | 6443 | 6447 |
| Peac Solutions Receivables, Class B, Series 2024-1A, 5.79%, 11/20/30<sup>(1)</sup> | 30000 | 30584 |
| Prestige Auto Receivables Trust, Class B, Series 2023-2A, 6.64%, 12/15/27<sup>(1)</sup> | 406 | 407 |

---

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **ASSET BACKED SECURITIES (continued)** |  |  |
| RCKT Mortgage Trust, Class A1A, Series 2023-CES3, 7.11%, 11/25/43<sup>(1)(2)(3)</sup> | $41408 | $41723 |
| RCKT Mortgage Trust, Class A1A, Series 2024-CES3, 6.59%, 05/25/44<sup>(1)(2)(3)</sup> | 52318 | 52863 |
| RCKT Trust, Class B, Series 2025-1A, 4.99%, 07/25/34<sup>(1)</sup> | 40000 | 40091 |
| Reach ABS Trust, Class B, Series 2024-1A, 6.29%, 02/18/31<sup>(1)</sup> | 15567 | 15649 |
| Reach ABS Trust, Class B, Series 2025-2A, 5.12%, 08/18/32<sup>(1)</sup> | 40000 | 40037 |
| Regional Management Issuance Trust, Class A, Series 2024-2, 5.11%, 12/15/33<sup>(1)</sup> | 30000 | 30111 |
| Sbna Auto Receivables Trust, Class C, Series 2024-A, 5.59%, 01/15/30<sup>(1)</sup> | 18000 | 18170 |
| Scalelogix Abs US Issuer LLC, Class A2, Series 2025-1A, 5.67%, 07/25/55<sup>(1)</sup> | 30000 | 29515 |
| Sierra Timeshare Receivables Funding LLC, Class B, Series 2026-1A, 4.80%, 12/22/42<sup>(1)</sup> | 46620 | 46386 |
| Sofi Consumer Loan Program Trust, Class A, Series 2025-1, 4.80%, 02/27/34<sup>(1)</sup> | 40263 | 40382 |
| Sofi Consumer Loan Program Trust, Class C, Series 2026-1, 4.74%, 12/26/35<sup>(1)</sup> | 40000 | 39677 |
| Subway Funding LLC, Class A2II, Series 2024-1A, 6.27%, 07/30/54<sup>(1)</sup> | 29550 | 29782 |
| Taco Bell Funding LLC, Class A2I, Series 2025-1A, 4.82%, 08/25/55<sup>(1)</sup> | 50000 | 49541 |
| Tesla Lease Electric Vehicle Securitization LLC, Class A2, Series 2025-A, 4.14%, 06/20/28<sup>(1)</sup> | 40780 | 40783 |
| Tricolor Auto Securitization Trust, Class C, Series 2024-2A, 6.93%, 04/17/28<sup>(1)(4)(5)</sup> | 30000 | 14700 |
| TSC SPV Funding LLC, Class A2, Series 2024-1A, 6.29%, 08/20/54<sup>(1)</sup> | 34563 | 34812 |
| United Auto Credit Securitization Trust, Class C, Series 2024-1, 7.06%, 10/10/29<sup>(1)</sup> | 1099 | 1100 |
| United Auto Credit Securitization Trust, Class D, Series 2023-1, 8.00%, 07/10/28<sup>(1)</sup> | 11550 | 11604 |
| Upstart Securitization Trust, Class A2, Series 2025-3, 4.60%, 09/20/35<sup>(1)</sup> | 117103 | 117151 |
| US Bank NA, Class B, Series 2023-1, 6.79%, 08/25/32<sup>(1)</sup> | 3740 | 3763 |
| Veros Auto Receivables Trust, Class B, Series 2026-1, 4.84%, 05/15/29<sup>(1)</sup> | 40000 | 40010 |
| VFI ABS LLC, Class A, Series 2025-1A, 4.78%, 06/24/30<sup>(1)</sup> | 33248 | 33317 |
| Westlake Automobile Receivables Trust, Class A3, Series 2025-3A, 4.22%, 06/15/29<sup>(1)</sup> | 65000 | 65083 |
| Westlake Automobile Receivables Trust, Class B, Series 2024-2A, 5.62%, 03/15/30<sup>(1)</sup> | 30000 | 30179 |
| Westlake Automobile Receivables Trust, Class C, Series 2025-2A, 4.85%, 01/15/31<sup>(1)</sup> | 30000 | 30160 |
| Westlake Automobile Receivables Trust, Class C, Series 2026-1A, 4.37%, 06/16/31<sup>(1)</sup> | 40000 | 39693 |
| Wingspire Equipment Finance LLC, Class A2, Series 2025-1A, 4.33%, 09/20/33<sup>(1)</sup> | 65000 | 64971 |
| Wingstop Funding LLC, Class A2, Series 2020-1A, 2.84%, 12/05/50<sup>(1)</sup> | 49250 | 47786 |
| ZAXBY'S Funding LLC, Class A2, Series 2021-1A, 3.24%, 07/30/51<sup>(1)</sup> | 38100 | 36343 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **ASSET BACKED SECURITIES (continued)** |  |  |
| **Total Asset Backed Securities** |  |  |
| (Cost $3,911,375) |  | **3914153** |
| **MORTGAGE BACKED SECURITIES - 28.2%** |  |  |
| **Agency Mortgage Backed Security - 7.8%** |  |  |
| Federal Home Loan Mortgage Corporation, 6.00%, 10/01/38 | $99138 | $102370 |
| Federal Home Loan Mortgage Corporation, 6.00%, 03/01/53 | 127626 | 131060 |
| Federal Home Loan Mortgage Corporation, 6.00%, 08/01/53 | 24212 | 24846 |
| Federal Home Loan Mortgage Corporation, 6.00%, 12/01/54 | 94980 | 97038 |
| Federal Home Loan Mortgage Corporation, 5.00%, 01/01/55 | 54075 | 53360 |
| Federal Home Loan Mortgage Corporation, 5.00%, 01/01/55 | 242578 | 239548 |
| Federal Home Loan Mortgage Corporation, 5.00%, 02/01/55 | 62708 | 61849 |
| Federal National Mortgage Association, 6.00%, 10/01/53 | 110088 | 112928 |
| Federal National Mortgage Association, 6.00%, 08/01/54 | 42085 | 43040 |
| Federal National Mortgage Association, 6.00%, 01/01/55 | 43467 | 44508 |
| Federal National Mortgage Association, 4.00%, 03/01/55 | 97478 | 91785 |
| Total Agency Mortgage Backed Security |  | 1002332 |
| **Commercial Mortgage Backed Securities - 4.0%** |  |  |
| BBCMS Trust, Class A, Series 2018-CBM, 4.95%, (1-Month SOFR + 1.30%), 07/15/37<sup>(1)(2)</sup> | 39000 | 38015 |
| Bx Commercial Mortgage Trust, Class A, Series 2024-XL5, 5.05%, (1-Month SOFR + 1.39%), 03/15/41<sup>(1)(2)</sup> | 61129 | 61259 |
| BX Trust, Class A, Series 2022-CLS, 5.76%, 10/13/27<sup>(1)</sup> | 30000 | 30020 |
| BX Trust, Class C, Series 2025-ROIC, 5.20%, (1-Month SOFR + 1.54%), 03/15/30<sup>(1)(2)</sup> | 24400 | 24344 |
| BX Trust, Class B, Series 2019-OC11, 3.61%, 12/09/41<sup>(1)</sup> | 120000 | 114148 |
| Mssg Trust, Class A, Series 2017-237P, 3.40%, 09/13/39<sup>(1)</sup> | 32000 | 30747 |
| New York Commercial Mortgage Trust, Class A, Series 2025-300P, 4.88%, 07/13/42<sup>(1)(2)(3)</sup> | 40000 | 39824 |
| Thpt Mortgage Trust, Class A, Series 2023-THL, 7.23%, 12/10/34<sup>(1)(2)(3)</sup> | 166730 | 167229 |
| Total Commercial Mortgage Backed Securities |  | 505586 |
| **Residential Mortgage Backed Securities - 16.4%** |  |  |
| Ajax Mortgage Loan Trust, Class A1, Series 2019-D, 2.96%, 09/25/65<sup>(1)(6)</sup> | 31153 | 30106 |
| Angel Oak Mortgage Trust, Class A1, Series 2022-5, 4.50%, 05/25/67<sup>(1)(6)</sup> | 43600 | 43477 |
| Arroyo Mortgage Trust, Class A1, Series 2019-1, 3.81%, 01/25/49<sup>(1)(2)(3)</sup> | 11704 | 11443 |

---

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **MORTGAGE BACKED SECURITIES (continued)** |  |  |
| **Residential Mortgage Backed Securities (continued)** |  |  |
| Arroyo Mortgage Trust, Class A1B, Series 2020-1, 2.10%, 03/25/55<sup>(1)</sup> | $71023 | $69585 |
| Aspire Mortgage Trust, Class A1, Series 2026-1, 4.86%, 01/25/66<sup>(1)(2)(3)</sup> | 97143 | 96630 |
| Citigroup Mortgage Loan Trust, Class A2, Series 2025-INV1, 6.00%, 01/25/55<sup>(1)(2)(3)</sup> | 75849 | 76776 |
| Citigroup Mortgage Loan Trust, Class A1, Series 2019-RP1, 3.50%, 01/25/66<sup>(1)(2)(3)</sup> | 29957 | 29402 |
| Citigroup Mortgage Loan Trust, Inc., Class A1, Series 2018-RP1, 3.00%, 09/25/64<sup>(1)(2)(3)</sup> | 57236 | 56609 |
| COLT Mortgage Loan Trust, Class A1, Series 2023-3, 7.18%, 09/25/68<sup>(1)(6)</sup> | 148606 | 149521 |
| Coopr Residential Mortgage Trust, Class A1A, Series 2025-CES3, 4.84%, 09/25/60<sup>(1)(6)</sup> | 91823 | 91192 |
| CSMC Trust, Class A1, Series 2020-RPL4, 2.00%, 01/25/60<sup>(1)(2)(3)</sup> | 122288 | 110579 |
| Ellington Financial Mortgage Trust, Class A1, Series 2020-2, 1.18%, 10/25/65<sup>(1)(2)(3)</sup> | 102382 | 97678 |
| FS, Class A, Series 2026-ORL, 5.00%, (1-Month SOFR + 1.35%), 02/15/41<sup>(1)(2)</sup> | 40000 | 40046 |
| Government National Mortgage Association, Class JA, Series 2025-125, 5.00%, 11/16/50<sup>(2)(3)</sup> | 49340 | 49467 |
| Homes Trust, Class A1, Series 2023-NQM2, 6.46%, 02/25/68<sup>(1)(6)</sup> | 187891 | 187480 |
| J.P. Morgan Mortgage Trust, Class A1A, Series 2024-CES1, 5.92%, 06/25/54<sup>(1)(6)</sup> | 22008 | 22119 |
| J.P. Morgan Mortgage Trust, Class A1, Series 2025-CES1, 5.67%, 05/25/55<sup>(1)(2)(3)</sup> | 64070 | 64346 |
| J.P. Morgan Mortgage Trust, Class A1, Series 2025-CES2, 5.59%, 06/25/55<sup>(1)(2)(3)</sup> | 22238 | 22327 |
| J.P. Morgan Mortgage Trust, Class A1, Series 2026-ACES1, 4.89%, 04/25/66<sup>(1)(2)(3)</sup> | 28747 | 28569 |
| MetLife Securitization Trust, Class A1A, Series 2019-1A, 3.75%, 04/25/58<sup>(1)(2)(3)</sup> | 123094 | 121885 |
| Mill City Mortgage Loan Trust, Class A1, Series 2019-GS2, 2.75%, 08/25/59<sup>(1)(2)(3)</sup> | 35571 | 34756 |
| Mill City Mortgage Loan Trust, Class A1B, Series 2018-4, 3.50%, 04/25/66<sup>(1)(2)(3)</sup> | 32090 | 31583 |
| New Residential Mortgage Loan Trust, Class A1, Series 2016-4A, 3.75%, 11/25/56<sup>(1)(2)(3)</sup> | 32567 | 30995 |
| New Residential Mortgage Loan Trust, Class A1, Series 2018-3A, 4.50%, 05/25/58<sup>(1)(2)(3)</sup> | 46774 | 45581 |
| New Residential Mortgage Loan Trust, Class A1, Series 2021-NQ2R, 0.94%, 10/25/58<sup>(1)(2)(3)</sup> | 49683 | 47903 |
| NYMT Loan Trust, Class A1, Series 2021-CP1, 2.04%, 07/25/61<sup>(1)</sup> | 39433 | 37151 |
| OBX Trust, Class A2, Series 2018-1, 4.42%, (1-Month SOFR + 0.76%), 06/25/57<sup>(1)(2)</sup> | 14229 | 14127 |
| OBX Trust, Class A1A, Series 2023-NQM5, 6.57%, 06/25/63<sup>(1)(6)</sup> | 196766 | 196730 |
| RCKT Mortgage Trust, Class A1A, Series 2024-CES1, 6.03%, 02/25/44<sup>(1)(2)(3)</sup> | 110609 | 111177 |
| RCKT Mortgage Trust, Class A1A, Series 2024-CES6, 5.34%, 09/25/44<sup>(1)(6)</sup> | 60846 | 60953 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **MORTGAGE BACKED SECURITIES (continued)** |  |  |
| **Residential Mortgage Backed Securities (continued)** |  |  |
| Residential Mortgage Loan Trust, Class A1, Series 2020-1, 2.38%, 01/26/60<sup>(1)(2)(3)</sup> | $714 | $713 |
| Starwood Mortgage Residential Trust, Class A1, Series 2021-3, 1.13%, 06/25/56<sup>(1)(2)(3)</sup> | 69038 | 60145 |
| Towd Point Mortgage Trust, Class A1A, Series 2018-6, 3.75%, 03/25/58<sup>(1)(2)(3)</sup> | 10267 | 10236 |
| Verus Securitization Trust, Class A1, Series 2021-R1, 0.82%, 10/25/63<sup>(1)(2)(3)</sup> | 25452 | 24693 |
| Total Residential Mortgage Backed Securities |  | 2105980 |
| **Total Mortgage Backed Securities** |  |  |
| (Cost $3,578,161) |  | **3613898** |
| **CORPORATE BONDS – 22.6%** |  |  |
| **Commercial & Residential Mortgage Finance – 0.0%<sup>(7)</sup>** |  |  |
| Rocket Cos., Inc., 6.13%, 08/01/30<sup>(1)</sup> | 5000 | 5077 |
| **Communication Services – 1.2%** |  |  |
| CCO Holdings LLC / CCO Holdings Capital Corp., 5.00%, 02/01/28<sup>(1)</sup> | 32000 | 31641 |
| Cipher Compute LLC, 7.13%, 11/15/30<sup>(1)</sup> | 10000 | 10378 |
| Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 5.88%, 08/15/27<sup>(1)</sup> | 14000 | 14019 |
| Gray Media, Inc., 7.25%, 08/15/33<sup>(1)</sup> | 15000 | 15281 |
| Nexstar Media, Inc., 6.50%, 09/15/33<sup>(1)</sup> | 5000 | 5042 |
| Nexstar Media, Inc., 7.25%, 04/15/34<sup>(1)</sup> | 5000 | 5036 |
| Oak-Eagle Acquireco, Inc., 7.25%, 07/01/33<sup>(1)</sup> | 10000 | 10309 |
| Sinclair Television Group, Inc., 8.13%, 02/15/33<sup>(1)</sup> | 10000 | 10362 |
| Snap, Inc., 6.88%, 03/15/34<sup>(1)</sup> | 5000 | 4844 |
| SV RNO Property Owner 1 LLC, 5.88%, 03/01/31<sup>(1)</sup> | 10000 | 9818 |
| T-Mobile USA, Inc., 3.88%, 04/15/30 | 25000 | 24347 |
| Univision Communications, Inc., 7.38%, 06/30/30<sup>(1)</sup> | 15000 | 14995 |
| Total Communication Services |  | 156072 |
| **Consumer Discretionary – 1.3%** |  |  |
| Hilton Domestic Operating Co., Inc., 5.88%, 04/01/29<sup>(1)</sup> | 15000 | 15215 |
| Hilton Domestic Operating Co., Inc., 5.75%, 09/15/33<sup>(1)</sup> | 15000 | 15109 |
| Meritage Homes Corp., 3.88%, 04/15/29<sup>(1)</sup> | 30000 | 29239 |
| Newell Brands, Inc., 6.38%, 09/15/27 | 31000 | 31311 |
| Nissan Motor Acceptance Co. LLC, 5.63%, 09/29/28<sup>(1)</sup> | 15000 | 14924 |
| Tractor Supply Co., 1.75%, 11/01/30 | 25000 | 22090 |
| Weekley Homes LLC / Weekley Finance Corp., 4.88%, 09/15/28<sup>(1)</sup> | 33000 | 32316 |
| Total Consumer Discretionary |  | 160204 |
| **Consumer Staples – 0.8%** |  |  |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.88%, 02/15/30<sup>(1)</sup> | 20000 | 19589 |
| Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC, 4.75%, 01/15/29<sup>(1)</sup> | 32000 | 31016 |
| Pilgrim's Pride Corp., 4.25%, 04/15/31 | 20000 | 19238 |
| Post Holdings, Inc., 6.25%, 02/15/32<sup>(1)</sup> | 14000 | 14285 |

---

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Consumer Staples (continued)** |  |  |
| Post Holdings, Inc., 6.38%, 03/01/33<sup>(1)</sup> | $15000 | $15004 |
| Total Consumer Staples |  | 99132 |
| **Energy – 1.4%** |  |  |
| Buckeye Partners LP, 6.75%, 02/01/30<sup>(1)</sup> | 10000 | 10350 |
| DBR Land Holdings LLC, 6.25%, 12/01/30<sup>(1)</sup> | 10000 | 10243 |
| DT Midstream, Inc., 4.13%, 06/15/29<sup>(1)</sup> | 34000 | 33294 |
| Genesis Energy LP / Genesis Energy Finance Corp., 8.88%, 04/15/30 | 10000 | 10482 |
| Hf Sinclair Corp., 5.75%, 01/15/31 | 15000 | 15367 |
| Kodiak Gas Services LLC, 5.88%, 04/01/31<sup>(1)</sup> | 5000 | 5039 |
| Kodiak Gas Services LLC, 6.50%, 10/01/33<sup>(1)</sup> | 10000 | 10234 |
| Ngpl Pipeco LLC, 4.88%, 08/15/27<sup>(1)</sup> | 25000 | 25035 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(1)</sup> | 20000 | 20809 |
| Occidental Petroleum Corp., 7.88%, 09/15/31 | 10000 | 11381 |
| Sabine Pass Liquefaction LLC, 4.50%, 05/15/30 | 20000 | 19981 |
| Total Energy |  | 172215 |
| **Financials – 8.3%** |  |  |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer, 6.75%, 04/15/28<sup>(1)</sup> | 30000 | 30401 |
| Allstate Corp. (The), Series B, 6.85%, (3-Month SOFR + 3.20%), 08/15/53<sup>(2)</sup> | 10000 | 10014 |
| Ally Financial, Inc., 8.00%, 11/01/31 | 20000 | 22347 |
| American Express Co., 4.58%, (SOFR + 0.93%), 07/26/28<sup>(2)</sup> | 18000 | 18087 |
| American Express Co., 5.09%, (SOFR + 1.02%), 01/30/31<sup>(2)</sup> | 5000 | 5089 |
| American National Group, Inc., 7.00%, (US 5 Year CMT T- Note + 3.18%), 12/01/55<sup>(2)</sup> | 6000 | 5869 |
| Apollo Debt Solutions BDC, 5.20%, 12/08/28<sup>(1)</sup> | 20000 | 19795 |
| Atlas Warehouse Lending Co. LP, 5.25%, 01/15/33<sup>(1)</sup> | 25000 | 24458 |
| Bank of America Corp., Series TT, 6.13%, (US 5 Year CMT T- Note + 3.23%), perpetual<sup>(2)(8)</sup> | 20000 | 20150 |
| Bank of America Corp., 1.73%, (SOFR + 0.96%), 07/22/27<sup>(2)</sup> | 35000 | 34794 |
| Bank of New York Mellon Corp. (The), Series F, 4.63%, (3-Month SOFR + 3.39%), perpetual<sup>(2)(8)</sup> | 25000 | 24929 |
| Blackstone Private Credit Fund, 5.95%, 07/16/29 | 20000 | 20021 |
| Blue Owl Finance LLC, 3.13%, 06/10/31 | 35000 | 30480 |
| Capital One Financial Corp., 4.72%, (SOFR + 1.15%), 01/30/32<sup>(2)</sup> | 35000 | 34592 |
| Charles Schwab Corp. (The), Series I, 4.00%, (US 5 Year CMT T- Note + 3.17%), perpetual<sup>(2)(8)</sup> | 15000 | 14985 |
| Charles Schwab Corp. (The), Series H, 4.00%, (US 10 Year CMT T- Note + 3.08%), perpetual<sup>(2)(8)</sup> | 20000 | 18653 |
| Citadel Finance LLC, 4.75%, 02/14/29<sup>(1)</sup> | 10000 | 9851 |
| Citigroup, Inc., 4.94%, (SOFR + 1.28%), 02/24/28<sup>(2)</sup> | 35000 | 35188 |
| Corebridge Financial, Inc., 6.88%, (US 5 Year CMT T- Note + 3.85%), 12/15/52<sup>(2)</sup> | 30000 | 30469 |
| Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Finance, 5.95%, 09/17/30<sup>(1)</sup> | 20000 | 18977 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Financials (continued)** |  |  |
| F&G Annuities & Life, Inc., 6.50%, 06/04/29 | $25000 | $25306 |
| Fifth Third Bancorp, 4.06%, (SOFR + 1.36%), 04/25/28<sup>(2)</sup> | 25000 | 24884 |
| Global Atlantic Finance Co., 7.95%, (US 5 Year CMT T- Note + 3.61%), 10/15/54<sup>(1)(2)</sup> | 10000 | 10053 |
| Goldman Sachs Group, Inc. (The), Series G, 5.68%, (3-Month SOFR + 2.01%), 10/28/27<sup>(2)</sup> | 25000 | 25176 |
| Goldman Sachs Group, Inc. (The), Series ., 4.61%, (SOFR + 0.96%), 01/21/32<sup>(2)</sup> | 10000 | 9966 |
| Goldman Sachs Private Credit Corp., 5.05%, 02/23/28<sup>(1)</sup> | 20000 | 19774 |
| HA Sustainable Infrastructure Capital, Inc., 6.15%, 01/15/31 | 15000 | 15450 |
| Hub International Ltd., 7.25%, 06/15/30<sup>(1)</sup> | 20000 | 20701 |
| Huntington Bancshares, Inc., 6.21%, (SOFR + 2.02%), 08/21/29<sup>(2)</sup> | 25000 | 25875 |
| Iron Mountain, Inc., 5.25%, 07/15/30<sup>(1)</sup> | 15000 | 14853 |
| JPMorgan Chase & Co., Series ., 4.84%, (SOFR + 1.18%), 02/24/28<sup>(2)</sup> | 40000 | 40232 |
| KeyCorp, Series G, 5.12%, (SOFR + 1.23%), 04/04/31<sup>(2)</sup> | 20000 | 20212 |
| Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.25%, 02/01/27<sup>(1)</sup> | 27000 | 26796 |
| Morgan Stanley, 3.59%, 07/22/28<sup>(2)(3)</sup> | 60000 | 59346 |
| MSCI, Inc., 3.63%, 09/01/30<sup>(1)</sup> | 35000 | 33141 |
| Northern Trust Corp., 3.38%, (3-Month USD SOFR + 1.13%), 05/08/32<sup>(2)</sup> | 20000 | 19747 |
| Onemain Finance Corp., 6.63%, 01/15/28 | 35000 | 35516 |
| PNC Financial Services Group, Inc. (The), Series V, 6.20%, (US 5 Year CMT T- Note + 3.24%), perpetual<sup>(2)(8)</sup> | 15000 | 15108 |
| PNC Financial Services Group, Inc. (The), 5.22%, (SOFR + 1.07%), 01/29/31<sup>(2)</sup> | 25000 | 25528 |
| Rga Global Funding, 4.60%, 11/25/30<sup>(1)</sup> | 25000 | 24830 |
| State Street Corp., Series I, 6.70%, (US 5 Year CMT T- Note + 2.61%), perpetual<sup>(2)(8)</sup> | 10000 | 10311 |
| Synchrony Financial, 2.88%, 10/28/31 | 20000 | 17582 |
| Texas Capital Bancshares, Inc., 5.30%, (SOFR + 1.94%), 02/27/32<sup>(2)</sup> | 15000 | 14882 |
| Truist Financial Corp., 7.16%, (SOFR + 2.45%), 10/30/29<sup>(2)</sup> | 30000 | 31833 |
| US Bancorp, 5.05%, (SOFR + 1.06%), 02/12/31<sup>(2)</sup> | 30000 | 30460 |
| Wells Fargo & Co., 3.53%, (SOFR + 1.51%), 03/24/28<sup>(2)</sup> | 20000 | 19852 |
| Wells Fargo & Co., 6.30%, (SOFR + 1.79%), 10/23/29<sup>(2)</sup> | 15000 | 15616 |
| Total Financials |  | 1062179 |
| **Health Care – 2.5%** |  |  |
| Acadia Healthcare Co., Inc., 5.50%, 07/01/28<sup>(1)</sup> | 15000 | 14935 |
| Adapthealth LLC, 6.13%, 08/01/28<sup>(1)</sup> | 15000 | 15007 |
| Augusta Spinco Corp., 4.66%, 03/23/31 | 15000 | 14971 |
| Baxter International, Inc., 4.90%, 12/15/30 | 25000 | 24747 |
| Centene Corp., 4.63%, 12/15/29 | 15000 | 14631 |

---

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Health Care (continued)** |  |  |
| Charles River Laboratories International, Inc., 4.25%, 05/01/28<sup>(1)</sup> | $5000 | $4913 |
| CVS Health Corp., 7.00%, (US 5 Year CMT T- Note + 2.89%), 03/10/55<sup>(2)</sup> | 30000 | 31146 |
| DENTSPLY Sirona, Inc., 3.25%, 06/01/30 | 35000 | 32390 |
| HCA, Inc., 5.45%, 04/01/31 | 30000 | 30807 |
| Iqvia, Inc., 6.25%, 02/01/29 | 20000 | 20758 |
| IQVIA, Inc., 6.25%, 06/01/32<sup>(1)</sup> | 25000 | 25491 |
| Medline Borrower LP, 5.25%, 10/01/29<sup>(1)</sup> | 5000 | 4979 |
| Medline Borrower LP/Medline Co. Issuer, Inc., 6.25%, 04/01/29<sup>(1)</sup> | 20000 | 20477 |
| Royalty Pharma PLC, 5.15%, 09/02/29 | 25000 | 25434 |
| Tenet Healthcare Corp., 5.50%, 11/15/32<sup>(1)</sup> | 10000 | 9979 |
| Universal Health Services, Inc., 1.65%, 09/01/26 | 30000 | 29732 |
| Total Health Care |  | 320397 |
| **Industrials – 2.2%** |  |  |
| Alaska Airlines Pass-Through Trust, Class A, Series 2020-1, 4.80%, 08/15/27<sup>(1)</sup> | 22755 | 22774 |
| Aviation Capital Group LLC, 5.38%, 07/15/29<sup>(1)</sup> | 25000 | 25417 |
| BlueLinx Holdings, Inc., 6.00%, 11/15/29<sup>(1)</sup> | 20000 | 19437 |
| Boeing Co. (The), 6.39%, 05/01/31 | 10000 | 10683 |
| Builders FirstSource, Inc., 4.25%, 02/01/32<sup>(1)</sup> | 10000 | 9287 |
| CoStar Group, Inc., 2.80%, 07/15/30<sup>(1)</sup> | 35000 | 31803 |
| Flowserve Corp., 3.50%, 10/01/30 | 20000 | 18899 |
| Herc Holdings, Inc., 7.00%, 06/15/30<sup>(1)</sup> | 15000 | 15615 |
| Hexcel Corp., 4.20%, 02/15/27 | 32000 | 31943 |
| Hexcel Corp., 4.90%, 05/15/31 | 10000 | 10007 |
| Huntington Ingalls Industries, Inc., 2.04%, 08/16/28 | 20000 | 18969 |
| Quikrete Holdings, Inc., 6.38%, 03/01/32<sup>(1)</sup> | 5000 | 5082 |
| Stanley Black & Decker, Inc., 6.71%, (US 5 Year CMT T- Note + 2.66%), 03/15/60<sup>(2)</sup> | 20000 | 19794 |
| TransDigm, Inc., 6.75%, 08/15/28<sup>(1)</sup> | 30000 | 30443 |
| United Airlines Holdings, Inc., 4.88%, 03/01/29 | 10000 | 9876 |
| Total Industrials |  | 280029 |
| **Information Technology – 1.7%** |  |  |
| Booz Allen Hamilton, Inc., 3.88%, 09/01/28<sup>(1)</sup> | 25000 | 24470 |
| Broadcom, Inc., 4.35%, 02/15/30 | 25000 | 24912 |
| Cloud Software Group, Inc., 9.00%, 09/30/29<sup>(1)</sup> | 25000 | 24568 |
| Consensus Cloud Solutions, Inc., 6.50%, 10/15/28<sup>(1)</sup> | 20000 | 19842 |
| Foundry Jv Holdco LLC, 5.90%, 01/25/30<sup>(1)</sup> | 15000 | 15570 |
| Gartner, Inc., 3.75%, 10/01/30<sup>(1)</sup> | 25000 | 22924 |
| Kyndryl Holdings, Inc., 2.70%, 10/15/28 | 25000 | 23513 |
| Neptune Bidco US, Inc., 9.29%, 04/15/29<sup>(1)</sup> | 14000 | 14171 |
| Oracle Corp., 6.25%, 11/09/32 | 25000 | 25670 |
| Vontier Corp., 2.40%, 04/01/28 | 24000 | 23033 |
| Total Information Technology |  | 218673 |
| **Materials – 1.0%** |  |  |
| Bayport Polymers LLC, 4.74%, 04/14/27<sup>(1)</sup> | 25000 | 24986 |
| Berry Global, Inc., 5.80%, 06/15/31 | 30000 | 31264 |
| JH North America Holdings, Inc., 5.88%, 01/31/31<sup>(1)</sup> | 20000 | 20007 |
| LSB Industries, Inc., 6.25%, 10/15/28<sup>(1)</sup> | 15000 | 15017 |
| Solstice Advanced Materials, Inc., 5.63%, 09/30/33<sup>(1)</sup> | 11000 | 10946 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Materials (continued)** |  |  |
| Sonoco Products Co., 4.60%, 09/01/29 | $25000 | $24963 |
| Total Materials |  | 127183 |
| **Real Estate – 0.2%** |  |  |
| EPR Properties, 4.75%, 11/15/30 | 20000 | 19659 |
| Millrose Properties, Inc., 6.38%, 08/01/30<sup>(1)</sup> | 10000 | 10135 |
| Total Real Estate |  | 29794 |
| **Telecommunication Services – 0.1%** |  |  |
| CSC Holdings LLC, 5.50%, 04/15/27<sup>(1)</sup> | 20000 | 16888 |
| **Transaction & Payment Processing Services – 0.4%** |  |  |
| Block, Inc., 6.50%, 05/15/32 | 20000 | 20392 |
| Global Payments, Inc., 4.88%, 11/15/30 | 25000 | 24581 |
| Total Transaction & Payment Processing Services |  | 44973 |
| **Transportation – 0.0%<sup>(7)</sup>** |  |  |
| FedEx Freight Holding Co., Inc., 4.65%, 03/15/31<sup>(1)</sup> | 5000 | 4931 |
| **Utilities – 1.5%** |  |  |
| Entergy Corp., 7.13%, (US 5 Year CMT T- Note + 2.67%), 12/01/54<sup>(2)</sup> | 20000 | 20602 |
| Ferrellgas LP / Ferrellgas Finance Corp., 5.88%, 04/01/29<sup>(1)</sup> | 20000 | 19534 |
| Nextera Energy Capital Holdings, Inc., 6.38%, (US 5 Year CMT T- Note + 2.05%), 08/15/55<sup>(2)</sup> | 20000 | 20424 |
| NiSource, Inc., 6.95%, (US 5 Year CMT T- Note + 2.45%), 11/30/54<sup>(2)</sup> | 10000 | 10365 |
| NRG Energy, Inc., 4.96%, 04/30/31<sup>(1)</sup> | 25000 | 24834 |
| NRG Energy, Inc., 5.88%, 05/15/34<sup>(1)</sup> | 5000 | 4984 |
| PR RNO Property Owner 1 LLC, 6.50%, 05/01/31<sup>(1)</sup> | 5000 | 4959 |
| Puget Energy, Inc., 2.38%, 06/15/28 | 25000 | 23900 |
| Southern Co. (The), Series 21-A, 3.75%, (US 5 Year CMT T- Note + 2.92%), 09/15/51<sup>(2)</sup> | 40000 | 39859 |
| Spire, Inc., 6.25%, (US 5 Year CMT T- Note + 2.56%), <br> 06/01/56<sup>(2)</sup> | 20000 | 19939 |
| Xplr Infrastructure Operating Partners LP, 7.25%, 01/15/29<sup>(1)</sup> | 8000 | 8323 |
| Total Utilities |  | 197723 |
| **Total Corporate Bonds** |  |  |
| (Cost $2,863,077) |  | **2895470** |
| **U.S. GOVERNMENT SECURITIES – 10.1%** |  |  |
| U.S. Treasury Note |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/30/26 | 155000 | 155227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/26 | 40000 | 40191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 08/15/27 | 350000 | 349556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/31/27 | 220000 | 218823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/29 | 20000 | 19786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/31/29 | 220000 | 220460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/28/30 | 250000 | 250288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 08/31/30 | 35000 | 34476 |
| **Total U.S. Government Securities** |  |  |
| (Cost $1,292,474) |  | **1288807** |

---

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **FOREIGN BONDS – 4.7%<sup>†</sup>** |  |  |
| **Consumer Discretionary – 0.8%** |  |  |
| Ashtead Capital, Inc., 4.25%, 11/01/29 (United Kingdom)<sup>(1)</sup> | $25000 | $24530 |
| Daimler Truck Finance North America LLC, 4.50%, 04/12/31 (Germany)<sup>(1)</sup> | 10000 | 9828 |
| Flutter Treasury DAC, 5.88%, 06/04/31 (United Kingdom)<sup>(1)</sup> | 25000 | 24926 |
| Ontario Gaming GTA LP/OTG Co. Issuer LLC, 8.00%, 08/01/30 (Canada)<sup>(1)</sup> | 20000 | 19775 |
| Sodexo, Inc., 5.15%, 08/15/30 (France)<sup>(1)</sup> | 25000 | 25287 |
| Total Consumer Discretionary |  | 104346 |
| **Consumer Staples – 0.2%** |  |  |
| Imperial Brands Finance PLC, 5.50%, 02/01/30 (United Kingdom)<sup>(1)</sup> | 20000 | 20563 |
| **Consumer, Non-cyclical – 0.2%** |  |  |
| 180 Medical, Inc., 3.88%, 10/15/29 (United Kingdom)<sup>(1)</sup> | 25000 | 24116 |
| **Energy – 0.8%** |  |  |
| BP Capital Markets PLC, 4.88%, (US 5 Year CMT T- Note + 4.40%), perpetual (United Kingdom)<sup>(2)(8)</sup> | 30000 | 29762 |
| Enbridge, Inc., 7.38%, (US 5 Year CMT T- Note + 3.71%), 01/15/83 (Canada)<sup>(2)</sup> | 20000 | 20501 |
| South Bow Canadian Infrastructure Holdings Ltd., 7.63%, (US 5 Year CMT T- Note + 3.95%), 03/01/55 (Canada)<sup>(2)</sup> | 20000 | 20885 |
| South Bow USA Infrastructure Holdings LLC, 5.03%, 10/01/29 (Canada) | 20000 | 20146 |
| TransCanada Pipelines Ltd., Series ., 6.13%, (US 5 Year CMT T- Note + 2.25%), 10/17/56 (Canada)<sup>(2)</sup> | 10000 | 10047 |
| Total Energy |  | 101341 |
| **Financials – 1.1%** |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 6.50%, (US 5 Year CMT T- Note + 2.44%), 01/31/56 (Ireland)<sup>(2)</sup> | 25000 | 25466 |
| Barclays, 7.39%, (US 1 Year CMT T- Note + 3.30%), 11/02/28 (United Kingdom)<sup>(2)</sup> | 20000 | 20797 |
| Deutsche Bank AG/New York NY, 5.00%, (SOFR + 1.70%), 09/11/30 (Germany)<sup>(2)</sup> | 25000 | 25117 |
| Societe Generale SA, 5.63%, (US 1 Year CMT T- Note + 1.75%), 01/19/30 (France)<sup>(1)(2)</sup> | 20000 | 20414 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **FOREIGN BONDS (continued)** |  |  |
| **Financials (continued)** |  |  |
| Toronto-Dominion Bank (The), 8.13%, (US 5 Year CMT T- Note + 4.08%), 10/31/82 (Canada)<sup>(2)</sup> | $25000 | $26020 |
| UBS AG/London, 5.65%, 09/11/28 (Switzerland) | 25000 | 25772 |
| Total Financials |  | 143586 |
| **Health Care – 0.2%** |  |  |
| Smith & Nephew PLC, 2.03%, 10/14/30 (United Kingdom) | 30000 | 26828 |
| **Industrials – 0.3%** |  |  |
| Avolon Holdings Funding Ltd., 5.75%, 11/15/29 (Ireland)<sup>(1)</sup> | 25000 | 25610 |
| Wrangler Holdco Corp., 6.63%, 04/01/32 (Canada)<sup>(1)</sup> | 10000 | 10324 |
| Total Industrials |  | 35934 |
| **Materials – 0.5%** |  |  |
| Fortescue Treasury Pty Ltd., 5.88%, 04/15/30 (Australia)<sup>(1)</sup> | 10000 | 10213 |
| Ineos Finance PLC, 6.75%, 05/15/28 (Luxembourg)<sup>(1)</sup> | 32000 | 32164 |
| Smurfit Kappa Treasury ULC, 5.20%, 01/15/30 (Ireland) | 25000 | 25476 |
| Total Materials |  | 67853 |
| **Utilities – 0.6%** |  |  |
| Algonquin Power & Utilities Corp., 5.37%, 06/15/26 (Canada)<sup>(6)</sup> | 10000 | 10000 |
| Electricite de France SA, 5.70%, 05/23/28 (France)<sup>(1)</sup> | 25000 | 25565 |
| ENEL Finance International NV, 5.13%, 06/26/29 (Italy)<sup>(1)</sup> | 20000 | 20297 |
| National Grid PLC, 5.60%, 06/12/28 (United Kingdom) | 20000 | 20441 |
| Total Utilities |  | 76303 |
| **Total Foreign Bonds** |  |  |
| (Cost $593,156) |  | **600870** |
| **TOTAL INVESTMENTS - 96.1%** |  |  |
| (Cost $12,238,243) |  | **12313198** |
| Other Assets in Excess of Liabilities - 3.9% |  | 496789 |
| **Net Assets - 100.0%** |  | $**12809987** |

---

† Principal
 disclosed in USD unless otherwise stated.

(1) Security was purchased
 pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional
 buyers. Unless otherwise noted, 144A securities are deemed to be liquid. At April 30, 2026, the aggregate value of these securities
 was $7,230,774, or 56.4% of net assets.

(2) Variable rate
 instrument. The interest rate shown reflects the rate in effect at April 30, 2026.

(3) Adjustable
 rate security with an interest rate that is not based on a published reference index and spread. The rate is based on
 the structure of the agreement and current market conditions.

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

(4) Security
 valued at fair value as determined in good faith by or under the direction of the Trustees. This security is disclosed as
 a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments.

(5) Security in default,
 no interest payments are being received.

(6) Represents step
 coupon bond. Rate shown reflects the rate in effect as of April 30, 2026.

(7) Amount rounds
 to less than 0.05%.

(8) Perpetual security
 with no contractual maturity date.

---

| |
|:---|
| **Abbreviations:** |
| CMT — Constant Maturity Treasury Index |
| SOFR — Secured Overnight Financing Rate |
| USD — United States Dollar |

---

Schedule of Investments - Virtus Newfleet Short Duration Core Plus Bond ETF (continued)

April 30, 2026 (unaudited)

**Fair Value Measurements**

The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 includes unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes valuation of the Fund's investments under the fair value hierarchy levels as of April 30, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset Backed Securities | $— | $3899453 | $14700 | $3914153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage Backed Securities |  | 3613898 |  | 3613898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds |  | 2895470 |  | 2895470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Securities |  | 1288807 |  | 1288807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Bonds |  | 600870 |  | 600870 |
| **Total** | $**—** | $**12298498** | $**14700** | $**12313198** |

---

Some of the Fund's investments that were categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of Level 3 investments.

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the rollforward of Level 3 securities and assumptions are not shown for the period ended April 30, 2026

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus ETF Trust II

- **b. Investment Company Act file number:** 811-23078

- **c. CIK number of Registrant:** 0001648403

- **d. LEI of Registrant:** 549300KNJ4HBWHIYD309

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

  - **Street Address 1:** 1540 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 1-888-383-0553

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

- **a. Name of Series:** Virtus Newfleet Short Duration Core Plus Bond ETF

- **b. EDGAR series identifier (if any):** S000082804

- **c. LEI of Series:** 52990051FWCYNEBGU846

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $12823450.11

**Total Liabilities:** $13638.57

**Net Assets:** $12809811.54

**Cash Not Reported:** $405892.56

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -0.12254269 | **1-Year:** -3.20763967 | **5-Year:** -606.22208690 | **10-Year:** -400.31669450 | **30-Year:** -1183.18269900

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

- **3-Month:** 0.00000000 | **1-Year:** -5.60664866 | **5-Year:** -136.28990720 | **10-Year:** -110.55818170 | **30-Year:** -89.62681806

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246126 | 0.57%                | -0.52%               | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5739.25                 | $19080.36                                  |
| Month 2  | $925.69                  | $-117283.27                                |
| Month 3  | $3346.69                 | $5525.33                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LAD AUTO RECEIVABLES TRUST 2025-1                                                        | LADAR 2025-1A D                 | CUSIP: 505712AG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30342.13     | 0.24%             | 2032-05-17      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2024-2                                             | WLAKE 2024-2A B                 | CUSIP: 96042YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30178.75     | 0.24%             | 2030-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PRESTIGE AUTO RECEIVABLES TRUST 2023-2                                                   | PART 2023-2A B                  | CUSIP: 74113VAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       406 | PA      | $406.52       | 0.00%             | 2027-12-15      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FINANCE PLC                                                              | IMBLN 5.5 02/01/30 144A         | CUSIP: 45262BAG8<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |     20000 | PA      | $20562.89     | 0.16%             | 2030-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FR SL0298                       | CUSIP: 31427MKL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    242578 | PA      | $239548.17    | 1.87%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TACO BELL FUNDING LLC                                                                    | BELL 2025-1A A2I                | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $49541.22     | 0.39%             | 2055-08-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA INC                                                                      | XRAY 3.25 06/01/30              | CUSIP: 24906PAA7<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32390.31     | 0.25%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CIPHER COMPUTE LLC                                                                       | CIFR 7.125 11/15/30 144A        | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10377.59     | 0.08%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CITADEL FINANCE LLC                                                                      | CITADL 4.75 02/14/29 144A       | CUSIP: 17287HAE0<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9850.71      | 0.08%             | 2029-02-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2021-NQM2R                                           | NRZT 2021-NQ2R A1               | CUSIP: 64831EAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     49683 | PA      | $47903.41     | 0.37%             | 2058-10-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-C                                                            | OPTN 2021-C A                   | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     58757 | PA      | $58006.14     | 0.45%             | 2031-10-08      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| MILL CITY MORTGAGE LOAN TRUST 2019-GS2                                                   | MCMLT 2019-GS2 A1               | CUSIP: 59981TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35571 | PA      | $34755.72     | 0.27%             | 2059-08-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP LLC                                                               | ACGCAP 5.375 07/15/29 144A      | CUSIP: 05369AAQ4<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25417.09     | 0.20%             | 2029-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                                     | BAC V1.734 07/22/27             | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34794.35     | 0.27%             | 2027-07-22      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORP                                                                | OXY 7.875 09/15/31              | CUSIP: 674599DE2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     10000 | PA      | $11380.94     | 0.09%             | 2031-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2021-R1                                                       | VERUS 2021-R1 A1                | CUSIP: 92538BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25452 | PA      | $24693.33     | 0.19%             | 2063-10-25      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                                                       | RPRX 5.15 09/02/29              | CUSIP: 78081BAQ6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |     25000 | PA      | $25434.41     | 0.20%             | 2029-09-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SPIRE INC (US)                                                                           | SR V6.25 06/01/56               | CUSIP: 84857LAD3<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19939.09     | 0.16%             | 2056-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCIAL ISSUANCE TRUST 2022-3                                                  | OMFIT 2022-3A A                 | CUSIP: 68269PAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     13795 | PA      | $13844.03     | 0.11%             | 2034-05-15      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                              | ORCL 6.25 11/09/32              | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25669.97     | 0.20%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                                                                  | BAH 3.875 09/01/28 144A         | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24470.31     | 0.19%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA GROUP INC                                                                  | NXST 7.25 04/15/34 144A         | CUSIP: 65346UAA7<br>LEI: 52990083ZRR5UT591988 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5035.53      | 0.04%             | 2034-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                             | ENBCN V7.375 01/15/83           | CUSIP: 29250NBN4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $20501.24     | 0.16%             | 2083-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BOEING COMPANY (THE)                                                                     | BA 6.388 05/01/31               | CUSIP: 097023DR3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10682.98     | 0.08%             | 2031-05-01      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                                    | THC 5.5 11/15/32 144A           | CUSIP: 88033GDW7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9979.60      | 0.08%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2025-CES1                                                     | JPMMT 2025-CES1 A1              | CUSIP: 46658XAC9<br>LEI: 5299003TKRYXBBT76K08 | Long             | ABS-O            | CORP              | US        |     64070 | PA      | $64345.76     | 0.50%             | 2055-05-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust 2018-2                                                      | UPST 2025-3 A2                  | CUSIP: 91684FAB4<br>LEI: 549300MM4LHW6AKJUZ51 | Long             | ABS-O            | CORP              | US        |    117103 | PA      | $117151.42    | 0.91%             | 2035-09-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| LENDBUZZ AUTO RECEIVABLES TRUST                                                          | LENDBUZZ AUTO RECEIVABLES TRUST | CUSIP: 52611DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56024 | PA      | $56095.96     | 0.44%             | 2027-11-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| ANGEL OAK MORTGAGE TRUST 2024-10                                                         | AOMT 2022-5 A1                  | CUSIP: 03464HAA3<br>LEI: 254900QN92XYN8GJBJ44 | Long             | ABS-O            | CORP              | US        |     43600 | PA      | $43477.32     | 0.34%             | 2067-05-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| MMP CAPITAL 2025-A LLC                                                                   | MMP 2025-A B                    | CUSIP: 55317QAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35000 | PA      | $35299.75     | 0.28%             | 2031-12-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | FR SD8350                       | CUSIP: 3132DWH30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     24212 | PA      | $24845.80     | 0.19%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CPS AUTO RECEIVABLES TRUST 2024-A                                                        | CPS 2024-A C                    | CUSIP: 22411CAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21506 | PA      | $21607.02     | 0.17%             | 2030-04-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATING COMPANY INC                                                    | HLT 5.75 09/15/33 144A          | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15108.98     | 0.12%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COTY INC                                                                                 | COTY 4.75 01/15/29 144A         | CUSIP: 222070AG9<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31015.84     | 0.24%             | 2029-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG NEW YORK BRANCH                                                         | DB V4.999 09/11/30              | CUSIP: 251526CX5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25117.26     | 0.20%             | 2030-09-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP                                                                             | VNT 2.4 04/01/28                | CUSIP: 928881AD3<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23033.37     | 0.18%             | 2028-04-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ARROYO MORTGAGE TRUST 2020-1                                                             | ARRW 2020-1 A1B                 | CUSIP: 04285CAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     71023 | PA      | $69584.93     | 0.54%             | 2055-03-25      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                                      | MEDIND 6.25 04/01/29 144A       | CUSIP: 58506DAA6<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20477.42     | 0.16%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TEXAS CAPITAL BANCSHARES INC                                                             | TCBI V5.301 02/27/32            | CUSIP: 88224QAC1<br>LEI: 549300466Q2SXRX0YM48 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14882.17     | 0.12%             | 2032-02-27      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| OWN EQUIPMENT FUND I LLC                                                                 | EQS 2024-2M A                   | CUSIP: 69121NAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22751 | PA      | $22878.94     | 0.18%             | 2032-12-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| LSB INDUSTRIES INC                                                                       | LXU 6.25 10/15/28 144A          | CUSIP: 502160AN4<br>LEI: 5493001H215A0HG0MI71 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15016.82     | 0.12%             | 2028-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BDC                                                                | APODS 5.2 12/08/28 144A         | CUSIP: 03770DAH6<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19794.70     | 0.15%             | 2028-12-08      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| LOBEL AUTOMOBILE RECEIVABLES TRUST 2026-1                                                | LOBEL 2026-1 A                  | CUSIP: 53948VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40004.01     | 0.31%             | 2028-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                                        | STT V6.7 PERP I                 | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10311.40     | 0.08%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                                                         | DINO 5.75 01/15/31              | CUSIP: 403949AR1<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15367.12     | 0.12%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CREDIT FUND                                                           | BCRED 5.95 07/16/29             | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20020.63     | 0.16%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE OPERATING PARTNERS LP                                                | XIFR 7.25 01/15/29 144A         | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8323.42      | 0.06%             | 2029-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2024-CES6                                                            | RCKT 2024-CES6 A1A              | CUSIP: 749410AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60846 | PA      | $60952.78     | 0.48%             | 2044-09-25      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2024-CES3                                                            | RCKT 2024-CES3 A1A              | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52318 | PA      | $52862.49     | 0.41%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| AJAX MORTGAGE LOAN TRUST 2019-D                                                          | AJAXM 2019-D A1                 | CUSIP: 00968FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31153 | PA      | $30105.67     | 0.24%             | 2065-09-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST 2026-1                                                  | SCLP 2026-1 C                   | CUSIP: 83408AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39677.35     | 0.31%             | 2035-12-26      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | FR SD8309                       | CUSIP: 3132DWGS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    127626 | PA      | $131060.24    | 1.02%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NYMT LOAN TRUST 2022-CP1                                                                 | NYMT 2022-CP1 A1                | CUSIP: 62955VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     39433 | PA      | $37151.30     | 0.29%             | 2061-07-25      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                                      | SYF 2.875 10/28/31              | CUSIP: 87165BAR4<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17582.35     | 0.14%             | 2031-10-28      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 3.5 10/31/27                  | CUSIP: 91282CPE5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    220000 | PA      | $218822.66    | 1.71%             | 2027-10-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP (THE)                                                                      | ALL V0 08/15/53 B               | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10013.75     | 0.08%             | 2053-08-15      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                                        | POST 6.25 02/15/32 144A         | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14284.86     | 0.11%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAPITAL DAC                                                               | AER V6.5 01/31/56               | CUSIP: 00774MBQ7<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |     25000 | PA      | $25466.08     | 0.20%             | 2056-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                                            | TDG 6.75 08/15/28 144A          | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30442.74     | 0.24%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES (AUGUST 2006) PTY LTD                                                      | FMGAU 5.875 04/15/30 144A       | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     10000 | PA      | $10212.40     | 0.08%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUSTRIES INC                                                        | HII 2.043 08/16/28              | CUSIP: 446413AZ9<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18968.89     | 0.15%             | 2028-08-16      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| METRONET INFRASTRUCTURE ISSUER LLC                                                       | MNET 2025-2A A2                 | CUSIP: 59170JAX6<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30274.43     | 0.24%             | 2055-08-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FERRELLGAS ESCROW LLC                                                                    | FGP 5.875 04/01/29 144A         | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $19534.04     | 0.15%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES LTD                                                                | TRPCN V6.125 10/17/56 .         | CUSIP: 89352HBK4<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $10046.67     | 0.08%             | 2056-10-17      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LAD AUTO RECEIVABLES TRUST 2024-3                                                        | LADAR 2024-3A C                 | CUSIP: 505709AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35000 | PA      | $35188.59     | 0.27%             | 2030-03-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                                                                 | MSCI 3.625 09/01/30 144A        | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33140.64     | 0.26%             | 2030-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                                                      | AHTLN 4.25 11/01/29 144A        | CUSIP: 045054AL7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24530.50     | 0.19%             | 2029-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TESLA AUTO LEASE TRUST 2021-A                                                            | TLEVS 2025-A A2                 | CUSIP: 88162VAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40780 | PA      | $40782.48     | 0.32%             | 2028-06-20      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| VFI ABS 2025-1 LLC                                                                       | VFI 2025-1A A                   | CUSIP: 91824UAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     33248 | PA      | $33316.82     | 0.26%             | 2030-06-24      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                                 | CRBG V6.875 12/15/52            | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30468.63     | 0.24%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                                                | IQV 6.25 06/01/32 144A          | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25491.15     | 0.20%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC (REIT)                                                                 | IRM 5.25 07/15/30 144A          | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14852.88     | 0.12%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRACTOR SUPPLY COMPANY                                                                   | TSCO 1.75 11/01/30              | CUSIP: 892356AA4<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22089.74     | 0.17%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| DBR LAND HOLDINGS LLC                                                                    | LB 6.25 12/01/30 144A           | CUSIP: 24024BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10243.05     | 0.08%             | 2030-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OAKTREE ABF EQUIPMENT ST 2026-1 LLC                                                      | OAKEF 2026-1A B                 | CUSIP: 67403GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39886.72     | 0.31%             | 2033-10-17      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| HINNT 2024-A LLC                                                                         | HINTT 2024-A A                  | CUSIP: 40472QAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36533 | PA      | $37112.44     | 0.29%             | 2043-03-16      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                                        | NWL 6.375 09/15/27              | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31310.53     | 0.24%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SBNA AUTO RECEIVABLES TRUST 2024-A                                                       | SBAT 2024-A C                   | CUSIP: 78437PAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     18000 | PA      | $18170.44     | 0.14%             | 2030-01-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP (THE)                                                                | SCHW V4 PERP I                  | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14984.96     | 0.12%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VEROS AUTO RECEIVABLES TRUST 2017-1                                                      | VEROS 2026-1 B                  | CUSIP: 92511CAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40010.37     | 0.31%             | 2029-05-15      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| 180 MEDICAL INC                                                                          | CTECLN 3.875 10/15/29 144A      | CUSIP: 682357AA6<br>LEI: 254900ZB648OPWVFVX59 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24115.72     | 0.19%             | 2029-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                                    | FABSJV 5.9 01/25/30             | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15569.68     | 0.12%             | 2030-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                                                                 | FG 6.5 06/04/29                 | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25305.92     | 0.20%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                    | FN FS8791                       | CUSIP: 3140XQXV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42085 | PA      | $43040.09     | 0.34%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust 2025-2                                            | GSKY 2024-2 A2                  | CUSIP: 39571XAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6162 | PA      | $6171.05      | 0.05%             | 2059-10-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                                                       | RGA 4.6 11/25/30 144A           | CUSIP: 76209PAK9<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24829.98     | 0.19%             | 2030-11-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                                           | GTN 7.25 08/15/33 144A          | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15281.45     | 0.12%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EPR PROPERTIES                                                                           | EPR 4.75 11/15/30               | CUSIP: 26884UAH2<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19658.79     | 0.15%             | 2030-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2025-CES2                                                     | JPMMT 2025-CES2 A1              | CUSIP: 46595TAC4<br>LEI: 529900TE3BWT8J4WHE11 | Long             | ABS-O            | CORP              | US        |     22238 | PA      | $22326.82     | 0.17%             | 2055-06-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| US BANK NA                                                                               | USCLN 2023-1 B                  | CUSIP: 90357PAV6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | ABS-O            | CORP              | US        |      3740 | PA      | $3762.92      | 0.03%             | 2032-08-25      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| LADDER CAPITAL FINANCE HOLDINGS LLLP                                                     | LADR 4.25 02/01/27 144A         | CUSIP: 505742AM8<br>LEI: 254900TBF2Z4GR7NSX02 | Long             | DBT              | CORP              | US        |     27000 | PA      | $26796.51     | 0.21%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                                                              | IT 3.75 10/01/30 144A           | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22924.43     | 0.18%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 3.5 02/15/29                  | CUSIP: 91282CQA2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $19785.94     | 0.15%             | 2029-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                                                     | GFLCN 6.625 04/01/32 144A       | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10324.08     | 0.08%             | 2032-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                                                | IQV 6.25 02/01/29               | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20758.42     | 0.16%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                                  | HCA 5.45 04/01/31               | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30806.91     | 0.24%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| REGIONAL MANAGEMENT ISSUANCE TRUST 2024-2                                                | RMIT 2024-2 A                   | CUSIP: 75907AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30110.90     | 0.24%             | 2033-12-15      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK (THE)                                                              | TD V8.125 10/31/82              | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $26020.38     | 0.20%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                                                         | AMCR 5.8 06/15/31               | CUSIP: 08576BAB8<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31264.14     | 0.24%             | 2031-06-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTIONS INC                                                            | CCSI 6.5 10/15/28 144A          | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $19842.18     | 0.15%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                                                 | AXP V5.085 01/30/31             | CUSIP: 025816DY2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5089.52      | 0.04%             | 2031-01-30      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                             | AVGO 4.35 02/15/30              | CUSIP: 11135FCB5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24911.58     | 0.19%             | 2030-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2026-1                                             | WLAKE 2026-1A C                 | CUSIP: 96043BAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39693.37     | 0.31%             | 2031-06-16      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 3.75 08/15/27                 | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $349555.66    | 2.73%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2025-1                                     | BLAST 2025-1 C                  | CUSIP: 10806HAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25182.92     | 0.20%             | 2029-12-17      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2013-2                                               | EART 2026-2A C                  | CUSIP: 30166WAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39993.47     | 0.31%             | 2032-08-16      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                            | C F 02/24/28                    | CUSIP: 172967NH0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35188.57     | 0.27%             | 2028-02-24      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 4 02/28/30                    | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $250288.09    | 1.95%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 4.625 06/30/26                | CUSIP: 91282CKY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    155000 | PA      | $155227.49    | 1.21%             | 2026-06-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BLUELINX HOLDINGS INC                                                                    | BXC 6 11/15/29 144A             | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19437.33     | 0.15%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DEXT ABS 2023-2 LLC                                                                      | DEXT 2023-2 B                   | CUSIP: 25216CAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30286.43     | 0.24%             | 2034-05-15      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2025-CES1                                                            | RCKTL 2025-1A B                 | CUSIP: 74939RAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40091.42     | 0.31%             | 2034-07-25      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC                                                                        | WEEKHM 4.875 09/15/28 144A      | CUSIP: 948565AD8<br>LEI: 5493009MTTQO8ZN53F13 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32316.32     | 0.25%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TR 2024-2                                                               | OPTN 2024-2 B                   | CUSIP: 68377KAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7898 | PA      | $7901.64      | 0.06%             | 2032-02-09      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                                                                 | HACLN 2024-1 B1                 | CUSIP: 44644NAA7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | ABS-O            | CORP              | US        |      7122 | PA      | $7219.34      | 0.06%             | 2032-05-20      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                                                   | BPLN V4.875 PERP                | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     30000 | PA      | $29761.73     | 0.23%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP                                                                        | GEL 8.875 04/15/30              | CUSIP: 37185LAN2<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10481.61     | 0.08%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TSC Spv Funding LLC                                                                      | TROP 2024-1A A2                 | CUSIP: 898912AA8<br>LEI: 21380072ODEONQKNZ348 | Long             | ABS-O            | CORP              | US        |     34562 | PA      | $34811.72     | 0.27%             | 2054-08-20      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION                                                 | GNR 2025-125 JA                 | CUSIP: 38381MVV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     49340 | PA      | $49466.78     | 0.39%             | 2050-11-16      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES INC                                                                      | ALK 4.8 08/15/27 144A           | CUSIP: 01166VAA7<br>LEI: PG4W4UTDTMMEBRGLO537 | Long             | ABS-O            | CORP              | US        |     22755 | PA      | $22773.60     | 0.18%             | 2027-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                                                                      | SOCGEN V5.634 01/19/30 144A     | CUSIP: 83368RBW1<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     20000 | PA      | $20414.01     | 0.16%             | 2030-01-19      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROUP INC                                                            | SBGI 8.125 02/15/33 144A        | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10362.15     | 0.08%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                                                      | NEE V6.375 08/15/55             | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20423.66     | 0.16%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORIES INTERNATIONAL INC                                             | CRL 4.25 05/01/28 144A          | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4913.00      | 0.04%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM                                                               | SCLP 2025-1 A                   | CUSIP: 83406YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40263 | PA      | $40381.67     | 0.32%             | 2034-02-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FLOWSERVE CORP                                                                           | FLS 3.5 10/01/30                | CUSIP: 34354PAF2<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18899.50     | 0.15%             | 2030-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDINGS INC                                                            | JHXAU 5.875 01/31/31 144A       | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20006.38     | 0.16%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST 2024-2                                                      | HGVT 2024-2A A                  | CUSIP: 43283JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36916 | PA      | $37548.22     | 0.29%             | 2038-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN COMPANY (THE)                                                                   | SO V3.75 09/15/51 21-A          | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39858.86     | 0.31%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP INC                                                              | ANGINC V7 12/01/55              | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5869.28      | 0.05%             | 2055-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                                        | SRFC 2026-1A B                  | CUSIP: 82652VAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     46620 | PA      | $46385.63     | 0.36%             | 2042-12-22      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SV RNO PROPERTY OWNER 1 LLC                                                              | TRACTC 5.875 03/01/31 144A      | CUSIP: 78488XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9817.99      | 0.08%             | 2031-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS INC                                                             | UAL 4.875 03/01/29              | CUSIP: 910047AM1<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9875.62      | 0.08%             | 2029-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CREDIT CORP                                                        | GSCRED 5.05 02/23/28 144A       | CUSIP: 38152BAJ0<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19773.88     | 0.15%             | 2028-02-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                           | NRG 5.875 05/15/34 144A         | CUSIP: 629377DF6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4984.29      | 0.04%             | 2034-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | COOPR 2025-CES3 A1A             | CUSIP: 216926AA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     91823 | PA      | $91192.14     | 0.71%             | 2060-09-25      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP (THE)                                                       | BK V4.625 PERP F                | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24929.14     | 0.19%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2026-1                                     | BLAST 2026-1 C                  | CUSIP: 107927AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39681.03     | 0.31%             | 2031-11-15      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                         | TMUS 3.875 04/15/30             | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24347.51     | 0.19%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                           | MS V3.591 07/22/28              | CUSIP: 61744YAK4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59345.88     | 0.46%             | 2028-07-22      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                                                  | KGS 6.5 10/01/33 144A           | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10234.37     | 0.08%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC (THE)                                                   | PNC V5.222 01/29/31             | CUSIP: 693475CB9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25527.84     | 0.20%             | 2031-01-29      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                                                                       | SNLN 2.032 10/14/30             | CUSIP: 83192PAA6<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |     30000 | PA      | $26828.29     | 0.21%             | 2030-10-14      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| BBCMS TRUST 2018-CBM                                                                     | BBCMS 2018-CBM A                | CUSIP: 05549RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     39000 | PA      | $38014.61     | 0.30%             | 2037-07-15      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST                                             | AMXCA 2025-5 A                  | CUSIP: 02582JKT6<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $126187.13    | 0.99%             | 2032-07-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                                                 | BLDR 4.25 02/01/32 144A         | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9287.17      | 0.07%             | 2032-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                                                    | HBGCN 7.25 06/15/30 144A        | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20700.62     | 0.16%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Wingspire Equipment Finance 2025-1 LLC                                                   | WEF 2025-1A A2                  | CUSIP: 97415CAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $64971.07     | 0.51%             | 2033-09-20      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| COLT 2023-3 MORTGAGE LOAN TRUST                                                          | COLT 2023-3 A1                  | CUSIP: 19688RAA7<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-O            | CORP              | US        |    148606 | PA      | $149520.97    | 1.17%             | 2068-09-25      | Variable      | 7.18%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                                                                     | KD 2.7 10/15/28                 | CUSIP: 50155QAK6<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23512.85     | 0.18%             | 2028-10-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| PR RNO PROPERTY OWNER 1 LLC                                                              | TRACTD 6.5 05/01/31 144A        | CUSIP: 69393LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4958.74      | 0.04%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2025-2                                             | WLAKE 2025-2A C                 | CUSIP: 96041KAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30159.97     | 0.24%             | 2031-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS INC                                                             | UVN 7.375 06/30/30 144A         | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14995.25     | 0.12%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                    | FN FA1728                       | CUSIP: 3140W14N0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    110088 | PA      | $112927.62    | 0.88%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LP / DRAWBRIDGE SPECIAL OPPORTUNITIES FINANCE CORP | DRAWBR 5.95 09/17/30 144A       | CUSIP: 26150TAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $18977.25     | 0.15%             | 2030-09-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2019-RP1                                                   | CMLTI 2019-RP1 A1               | CUSIP: 17327RAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     29957 | PA      | $29401.87     | 0.23%             | 2066-01-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                                  | MRP 6.375 08/01/30 144A         | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10135.04     | 0.08%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2024-CES1                                                            | RCKT 2024-CES1 A1A              | CUSIP: 749424AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110609 | PA      | $111176.61    | 0.87%             | 2044-02-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| Tharaldson Hotel Portfolio Trust                                                         | THPT 2023-THL A                 | CUSIP: 87252LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    166730 | PA      | $167229.07    | 1.31%             | 2034-12-14      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2023-P3                                                   | CRVNA 2023-N4 C                 | CUSIP: 14688LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $203508.09    | 1.59%             | 2030-02-11      | Fixed         | 6.59%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES INC                                                                | HBAN V6.208 08/21/29            | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25874.61     | 0.20%             | 2029-08-21      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP                                             | CHTR 5 02/01/28 144A            | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32000 | PA      | $31641.52     | 0.25%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LENDBUZZ SECURITIZATION TRUST 2025-1                                                     | LBZZ 2025-1A A2                 | CUSIP: 525938AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     59780 | PA      | $59958.22     | 0.47%             | 2030-10-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE COMPANY LLC                                                      | NSANY 5.625 09/29/28 144A       | CUSIP: 65480CAK1<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14924.43     | 0.12%             | 2028-09-29      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WINGSTOP FUNDING LLC                                                                     | WSTOP 2020-1A A2                | CUSIP: 974153AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     49250 | PA      | $47786.17     | 0.37%             | 2050-12-05      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| GLS AUTO SELECT RECEIVABLES TRUST 2023-2                                                 | GSAR 2023-2A A3                 | CUSIP: 36269EAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $302578.68    | 2.36%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AFFIRM MASTER TRUST                                                                      | AFRMT 2025-3A A                 | CUSIP: 00833BAN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    130000 | PA      | $129710.87    | 1.01%             | 2034-10-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PEAC SOLUTIONS RECEIVABLES 2024-1 LLC                                                    | PEAC 2024-1A B                  | CUSIP: 69433BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30584.30     | 0.24%             | 2030-11-20      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                       | BX 2024-XL5 A                   | CUSIP: 05612GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     61129 | PA      | $61258.68     | 0.48%             | 2041-03-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| SCALELOGIX ABS US ISSUER LLC                                                             | SCLGX 2025-1A A2                | CUSIP: 80587FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $29515.04     | 0.23%             | 2055-07-25      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-300P                                                  | NYC 2025-300P A                 | CUSIP: 67121TAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39824.50     | 0.31%             | 2042-07-15      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 3.625 08/31/30                | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     35000 | PA      | $34476.37     | 0.27%             | 2030-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ELLINGTON FINANCIAL MORTGAGE TRUST 2020-2                                                | EFMT 2020-2 A1                  | CUSIP: 31573WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    102382 | PA      | $97678.39     | 0.76%             | 2065-10-25      | Variable      | 1.18%                 | No            |                  2 | On Loan: No      |
| FLAGSHIP CREDIT AUTO TRUST 2024-3                                                        | FCAT 2024-3 B                   | CUSIP: 33843YAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30060.08     | 0.23%             | 2029-07-16      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                             | BACR V7.385 11/02/28            | CUSIP: 06738ECD5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     20000 | PA      | $20797.11     | 0.16%             | 2028-11-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                                                      | BPL 6.75 02/01/30 144A          | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10349.90     | 0.08%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRASTRUCTURE HOLDINGS LLC                                                | SOBOCN 5.026 10/01/29           | CUSIP: 83007CAD4<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20146.55     | 0.16%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC (FIN) COMPANY                                                            | GBLATL V7.95 10/15/54 144A      | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10052.80     | 0.08%             | 2054-10-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| STARWOOD MORTGAGE RESIDENTIAL TRUST 2021-3                                               | STAR 2021-3 A1                  | CUSIP: 85573JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     69038 | PA      | $60144.68     | 0.47%             | 2056-06-25      | Variable      | 1.13%                 | No            |                  2 | On Loan: No      |
| FIRST INVESTORS AUTO OWNER TRUST 2022-2                                                  | FIAOT 2026-1A B                 | CUSIP: 32059JAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40196.62     | 0.31%             | 2032-07-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-ROIC                                                                       | BX 2025-ROIC C                  | CUSIP: 05593VAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24400 | PA      | $24343.73     | 0.19%             | 2030-03-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                                                | XYZ 6.5 05/15/32                | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20391.87     | 0.16%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                                                  | KGS 5.875 04/01/31 144A         | CUSIP: 50012LAF1<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5038.50      | 0.04%             | 2031-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC (THE)                                                   | PNC V6.2 PERP V                 | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15108.02     | 0.12%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC / DIRECTV FINANCING CO-OBLIGOR INC                                 | DTV 5.875 08/15/27 144A         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $14019.14     | 0.11%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COSTAR GROUP INC                                                                         | CSGP 2.8 07/15/30 144A          | CUSIP: 22160NAA7<br>LEI: 984500Q1D53D08E2E698 | Long             | DBT              | CORP              | US        |     35000 | PA      | $31803.01     | 0.25%             | 2030-07-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| CSMC 2020-RPL4 TRUST                                                                     | CSMC 2020-RPL4 A1               | CUSIP: 126405AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    122288 | PA      | $110578.97    | 0.86%             | 2060-01-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERIALS INC                                                          | SOLADV 5.625 09/30/33 144A      | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10946.14     | 0.09%             | 2033-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 4 07/31/29                    | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    220000 | PA      | $220459.76    | 1.72%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                                    | TFC V7.161 10/30/29 MTN         | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31832.64     | 0.25%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                          | CVS V7 03/10/55                 | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31145.62     | 0.24%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                                                                      | NTRS V3.375 05/08/32            | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19747.10     | 0.15%             | 2032-05-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE COMPANY INC                                                            | ACHC 5.5 07/01/28 144A          | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14934.73     | 0.12%             | 2028-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                    | FN FA1378                       | CUSIP: 3140W1Q89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     97478 | PA      | $91785.52     | 0.72%             | 2055-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2018-RP1                                                   | CMLTI 2018-RP1 A1               | CUSIP: 17326QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     57236 | PA      | $56608.57     | 0.44%             | 2064-09-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                                                      | GPN 4.875 11/15/30              | CUSIP: 37940XAW2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24580.99     | 0.19%             | 2030-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2025-3                                               | EART 2025-3A D                  | CUSIP: 30166XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40395.07     | 0.32%             | 2031-10-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| NMEF FUNDING 2024-A LLC                                                                  | NMEF 2024-A A2                  | CUSIP: 62919UAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21450 | PA      | $21560.25     | 0.17%             | 2031-12-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MSSG TRUST 2017-237P                                                                     | MSSG 2017-237P A                | CUSIP: 55375KAS5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     32000 | PA      | $30747.09     | 0.24%             | 2039-09-13      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION LLC                                                             | SPLLLC 4.5 05/15/30             | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19981.11     | 0.16%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DRIVE AUTO RECEIVABLES TRUST 2024-1                                                      | DRIVE 2024-1 C                  | CUSIP: 26208WAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25333.27     | 0.20%             | 2031-11-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                                                 | EDF 5.7 05/23/28 144A           | CUSIP: 28504DAB9<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     25000 | PA      | $25564.80     | 0.20%             | 2028-05-23      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN POWER & UTILITIES CORP                                                         | AQNCN 5.365 06/15/26            | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $10000.04     | 0.08%             | 2026-06-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                                             | CNC 4.625 12/15/29              | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14630.67     | 0.11%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DISCOVER CARD EXECUTION NOTE TRUST                                                       | DCENT 2023-A2 A                 | CUSIP: 254683CZ6<br>LEI: 549300CKCX1QE4RUW216 | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $205268.06    | 1.60%             | 2028-06-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST 2025-X1                                                | AFFRM 2025-X1 A                 | CUSIP: 00834MAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       931 | PA      | $931.31       | 0.01%             | 2030-04-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| SODEXO INC                                                                               | SWFP 5.15 08/15/30 144A         | CUSIP: 833794AC4<br>LEI: 549300WSZGQGJQXRFU84 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25286.87     | 0.20%             | 2030-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                                         | CSCHLD 5.5 04/15/27 144A        | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16887.59     | 0.13%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | FR SD8505                       | CUSIP: 3132DWNW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     62708 | PA      | $61848.86     | 0.48%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                                                 | SNAP 6.875 03/15/34 144A        | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4843.66      | 0.04%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FEDEX FREIGHT HOLDING COMPANY INC                                                        | FDX 4.65 03/15/31 144A          | CUSIP: 314352AC9<br>LEI: 984500Y1DA5A58ICE336 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4930.88      | 0.04%             | 2031-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT                                     | T 4.625 11/15/26                | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000 | PA      | $40190.76     | 0.31%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                                    | WFC V3.526 03/24/28 MTN         | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19852.19     | 0.15%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| DT AUTO OWNER TRUST 2023-3                                                               | DTAOT 2023-3A C                 | CUSIP: 23345WAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    121364 | PA      | $122242.49    | 0.95%             | 2029-05-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MORTGAGE TRUST 2018-6                                                         | TPMT 2018-6 A1A                 | CUSIP: 89176LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10267 | PA      | $10236.34     | 0.08%             | 2058-03-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-3                                               | NRZT 2018-3A A1                 | CUSIP: 64830KAA5<br>LEI: 549300U48YU2VDL8N523 | Long             | ABS-O            | CORP              | US        |     46774 | PA      | $45581.11     | 0.36%             | 2058-05-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                                                         | DTMINC 4.125 06/15/29 144A      | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $33294.19     | 0.26%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                                    | WFC V6.303 10/23/29             | CUSIP: 95000U3G6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15616.23     | 0.12%             | 2029-10-23      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2013-2                                               | EART 2024-5A B                  | CUSIP: 30165BAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25795 | PA      | $25822.49     | 0.20%             | 2029-04-16      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                                        | HRI 7 06/15/30 144A             | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15614.67     | 0.12%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2023-CES3                                                            | RCKT 2023-CES3 A1A              | CUSIP: 749407AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     41408 | PA      | $41723.38     | 0.33%             | 2043-11-25      | Variable      | 7.11%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                                                  | KEY V5.121 04/04/31 GMTN        | CUSIP: 49326EEQ2<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20212.38     | 0.16%             | 2031-04-04      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                                                 | AXP F 07/26/28                  | CUSIP: 025816DX4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18086.77     | 0.14%             | 2028-07-26      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| ONTARIO GAMING GTA LP                                                                    | ONGAME 8 08/01/30 144A          | CUSIP: 68306MAA7<br>LEI: 894500EC9KLZLOC3V025 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19774.75     | 0.15%             | 2030-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Aspire Mortgage Trust 2026-1                                                             | SPIRE 2026-1 A1                 | CUSIP: 04539FAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     97143 | PA      | $96630.42     | 0.75%             | 2066-01-25      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | FR SB8269                       | CUSIP: 3132D6FJ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     99138 | PA      | $102369.99    | 0.80%             | 2038-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                       | BX 2019-OC11 B                  | CUSIP: 05606FAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    120000 | PA      | $114148.56    | 0.89%             | 2041-12-11      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                                                             | NI V6.95 11/30/54               | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10365.64     | 0.08%             | 2054-11-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2025-2                                     | BLAST 2025-2 D                  | CUSIP: 10807HAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30390.07     | 0.24%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CARVANA AUTO RECEIVABLES TRUST 2021-P3                                                   | CRVNA 2021-P3 B                 | CUSIP: 14687JAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $59373.88     | 0.46%             | 2027-08-10      | Fixed         | 1.42%                 | No            |                  2 | On Loan: No      |
| AMUR EQUIPMENT FINANCE RECEIVABLES XV LLC                                                | AXIS 2025-1A D                  | CUSIP: 03237FAE5<br>LEI: 254900UXD59DZRJ7U848 | Long             | ABS-O            | CORP              | US        |     35000 | PA      | $35398.87     | 0.28%             | 2032-08-20      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2016-4                                               | NRZT 2016-4A A1                 | CUSIP: 64829LAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     32567 | PA      | $30995.41     | 0.24%             | 2056-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| ACM AUTO TRUST 2025-2                                                                    | ACMAT 2025-2A A                 | CUSIP: 00161TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14515 | PA      | $14539.86     | 0.11%             | 2028-06-20      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| OAK-EAGLE ACQUIRECO INC                                                                  | EA 7.25 07/01/33 144A           | CUSIP: 67124CAA1<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10308.71     | 0.08%             | 2033-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                           | NRG 4.955 04/30/31 144A         | CUSIP: 629377DE9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24833.78     | 0.19%             | 2031-04-28      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                                                                      | MTH 3.875 04/15/29 144A         | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29239.19     | 0.23%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ATLAS WAREHOUSE LENDING COMPANY LP                                                       | ATWALD 5.25 01/15/33            | CUSIP: 049463AH5<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24458.12     | 0.19%             | 2033-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SMURFIT KAPPA TREASURY UNLTD CO                                                          | SW 5.2 01/15/30                 | CUSIP: 83272GAD3<br>LEI: 635400B3DOXSWFOWJT40 | Long             | DBT              | CORP              | IE        |     25000 | PA      | $25475.98     | 0.20%             | 2030-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL MORTGAGE LOAN TRUST 2020-1                                                   | RMLT 2020-1 A1                  | CUSIP: 76119CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       714 | PA      | $712.83       | 0.01%             | 2060-01-25      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTERNATIONAL NV                                                            | ENELIM 5.125 06/26/29 144A      | CUSIP: 29278GBD9<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |     20000 | PA      | $20297.15     | 0.16%             | 2029-06-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ARROYO MORTGAGE TRUST 2018-2                                                             | ARRW 2019-1 A1                  | CUSIP: 042859AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11704 | PA      | $11443.10     | 0.09%             | 2049-01-25      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| OBX 2018-1 TRUST                                                                         | OBX 2018-1 A2                   | CUSIP: 67112FAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14229 | PA      | $14126.78     | 0.11%             | 2057-06-25      | Variable      | 4.44%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | FR SD8492                       | CUSIP: 3132DWNH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     54075 | PA      | $53359.87     | 0.42%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                                                            | GS F 10/28/27 GMTN              | CUSIP: 38141GVX9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25175.57     | 0.20%             | 2027-10-28      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| AUXILIOR TERM FUNDING 2023-1 LLC                                                         | XCAP 2023-1A C                  | CUSIP: 05335JAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    120000 | PA      | $122483.02    | 0.96%             | 2030-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2025-INV1                                                  | CMLTI 2025-INV1 A2              | CUSIP: 17332GAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75849 | PA      | $76776.42     | 0.60%             | 2055-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                               | USB V5.046 02/12/31             | CUSIP: 91159HJT8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30459.58     | 0.24%             | 2031-02-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & COMPANY                                                                | JPM F 02/24/28 .                | CUSIP: 46647PCY0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40232.18     | 0.31%             | 2028-02-24      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                                    | QUIKHO 6.375 03/01/32 144A      | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5082.04      | 0.04%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROCKET COMPANIES INC                                                                     | RKT 6.125 08/01/30 144A         | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $5076.75      | 0.04%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HEXCEL CORP                                                                              | HXL 4.9 05/15/31                | CUSIP: 428291AQ1<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10007.52     | 0.08%             | 2031-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                                      | MEDIND 5.25 10/01/29 144A       | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4978.75      | 0.04%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LENDBUZZ SECURITIZATION TRUST 2024-2                                                     | LBZZ 2024-2A A2                 | CUSIP: 525920AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9753 | PA      | $9815.27      | 0.08%             | 2029-05-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCIAL ISSUANCE TRUST 2025-1                                                  | OMFIT 2025-1A B                 | CUSIP: 68270DAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30063.04     | 0.23%             | 2038-07-14      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FUNDING LTD                                                              | AVOL 5.75 11/15/29 144A         | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     25000 | PA      | $25610.38     | 0.20%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER INC                                                               | SWK V6.707 03/15/60             | CUSIP: 854502AM3<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19794.33     | 0.15%             | 2060-03-15      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2014/1                                      | ACAR 2025-1 C                   | CUSIP: 02528DAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30157.10     | 0.24%             | 2031-08-12      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| NGPL PIPECO LLC                                                                          | NGPLCO 4.875 08/15/27 144A      | CUSIP: 62912XAF1<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25035.10     | 0.20%             | 2027-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW CANADIAN INFRASTRUCTURE HOLDINGS LTD                                           | SOBOCN V7.625 03/01/55          | CUSIP: 836720AG7<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $20885.08     | 0.16%             | 2055-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2026-ACES1                                                      | JPMMT 2026-ACES1 A1             | CUSIP: 46664MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28747 | PA      | $28569.10     | 0.22%             | 2065-10-25      | Variable      | 7.73%                 | No            |                  2 | On Loan: No      |
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2014/1                                      | ACAR 2026-1 C                   | CUSIP: 02531FAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $39817.07     | 0.31%             | 2033-01-12      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                                                         | PSD 2.379 06/15/28              | CUSIP: 745310AM4<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23899.77     | 0.19%             | 2028-06-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| METLIFE SECURITIZATION TRUST 2017-1                                                      | MST 2019-1A A1A                 | CUSIP: 59166EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    123094 | PA      | $121884.54    | 0.95%             | 2058-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                                     | OMF 6.625 01/15/28              | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35515.69     | 0.28%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES INC                                                            | UHS 1.65 09/01/26               | CUSIP: 913903AZ3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29731.78     | 0.23%             | 2026-09-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| UNITED AUTO CREDIT SECURITIZATION TRUST 2022-1                                           | UACST 2023-1 D                  | CUSIP: 90945CAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11550 | PA      | $11603.51     | 0.09%             | 2028-07-10      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HEXCEL CORP                                                                              | HXL 3.95 02/15/27               | CUSIP: 428291AN8<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31942.70     | 0.25%             | 2027-02-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                                                          | ADAHEA 6.125 08/01/28 144A      | CUSIP: 00653VAA9<br>LEI: 549300SN58QQ28RVWE26 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15006.61     | 0.12%             | 2028-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                                     | BAC V6.125 PERP TT              | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20149.78     | 0.16%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ACM AUTO TRUST 2025-3                                                                    | ACMAT 2025-3A A                 | CUSIP: 00161UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     13017 | PA      | $13002.41     | 0.10%             | 2030-01-20      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| CPS AUTO RECEIVABLES TRUST 2025-A                                                        | CPS 2025-A C                    | CUSIP: 12633SAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30242.45     | 0.24%             | 2031-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST 2024-2                                                | TAST 2024-2A C                  | CUSIP: 89616PAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $14700.00     | 0.11%             | 2028-04-17      | Fixed         | 6.93%                 | No            |                  3 | On Loan: No      |
| INEOS FINANCE PLC                                                                        | INEGRP 6.75 05/15/28 144A       | CUSIP: 44984WAH0<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |     32000 | PA      | $32164.13     | 0.25%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA GROUP INC                                                                  | NXST 6.5 09/15/33 144A          | CUSIP: 65346UAB5<br>LEI: 52990083ZRR5UT591988 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5041.71      | 0.04%             | 2033-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2022-CLS                                                                        | BX 2022-CLS A                   | CUSIP: 05609XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30019.67     | 0.23%             | 2027-10-13      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| GLS AUTO SELECT RECEIVABLES TRUST 2024-3                                                 | GSAR 2024-3A C                  | CUSIP: 37989EAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30000 | PA      | $30733.94     | 0.24%             | 2030-08-15      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| BLUE OWL FINANCE LLC                                                                     | OWL 3.125 06/10/31              | CUSIP: 09581JAR7<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |     35000 | PA      | $30479.65     | 0.24%             | 2031-06-10      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MILL CITY MORTGAGE LOAN TRUST 2018-4                                                     | MCMLT 2018-4 A1B                | CUSIP: 59980YAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     32090 | PA      | $31582.66     | 0.25%             | 2066-04-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                                                             | ETR V7.125 12/01/54             | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20602.26     | 0.16%             | 2054-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                                                 | BAX 4.9 12/15/30                | CUSIP: 071813DD8<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24746.85     | 0.19%             | 2030-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| UBS AG LONDON BRANCH                                                                     | UBS 5.65 09/11/28               | CUSIP: 902674ZW3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |     25000 | PA      | $25771.60     | 0.20%             | 2028-09-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| REACH ABS TRUST 2023-1                                                                   | REACH 2024-1A B                 | CUSIP: 75526PAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15567 | PA      | $15649.42     | 0.12%             | 2031-02-18      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| AUGUSTA SPINCO CORP                                                                      | WAT 4.656 03/23/31              | CUSIP: 051473AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $14970.73     | 0.12%             | 2031-03-23      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| UNITED AUTO CREDIT SECURITIZATION TRUST 2022-1                                           | UACST 2024-1 C                  | CUSIP: 90945DAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1099 | PA      | $1099.53      | 0.01%             | 2029-10-10      | Fixed         | 7.06%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                          | FR SL1127                       | CUSIP: 31427NHD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     94980 | PA      | $97037.59     | 0.76%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2025-3                                             | WLAKE 2025-3A A3                | CUSIP: 96043QAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $65082.49     | 0.51%             | 2029-06-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| MARLETTE FUNDING TRUST 2024-1                                                            | MFT 2024-1A B                   | CUSIP: 57108VAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7197 | PA      | $7216.19      | 0.06%             | 2034-07-17      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP (THE)                                                                | SCHW V4 PERP H                  | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18653.44     | 0.15%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Finbe USA Trust 2025-1                                                                   | FINBE 2025-1A A                 | CUSIP: 317967AA5<br>LEI: 4469000001BR51E83192 | Long             | ABS-O            | CORP              | US        |     12156 | PA      | $12158.38     | 0.09%             | 2028-12-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                                      | FITB V4.055 04/25/28            | CUSIP: 316773DE7<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24884.57     | 0.19%             | 2028-04-25      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| CARMAX SELECT RECEIVABLES TRUST 2025-B                                                   | CMXS 2025-B C                   | CUSIP: 14320BAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100227.64    | 0.78%             | 2031-06-16      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| FS TRUST 2026-ORL                                                                        | FS 2026-ORL A                   | CUSIP: 30343YAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40045.66     | 0.31%             | 2041-02-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                                        | POST 6.375 03/01/33 144A        | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15003.84     | 0.12%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REACH ABS TRUST 2022-2                                                                   | REACH 2025-2A B                 | CUSIP: 75525QAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40036.48     | 0.31%             | 2032-08-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                    | FN FA0685                       | CUSIP: 3140W0XP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43467 | PA      | $44507.73     | 0.35%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZAXBYS FUNDING LLC                                                                       | ZAXBY 2021-1A A2                | CUSIP: 98920MAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     38100 | PA      | $36343.17     | 0.28%             | 2051-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INFRASTRUCTURE CAPITAL INC                                                | HASI 6.15 01/15/31              | CUSIP: 40408AAA9<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15449.79     | 0.12%             | 2031-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| MOMNT TECHNOLOGIES TRUST 2023-1                                                          | MMNT 2023-1A A                  | CUSIP: 608934AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1498 | PA      | $1500.39      | 0.01%             | 2045-03-20      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| CARDS II TRUST                                                                           | CARD2 2026-1A A                 | CUSIP: 14161GCT5<br>LEI: 549300GWPYLNK6X47W76 | Long             | ABS-O            | CORP              | CA        |     40000 | PA      | $40034.19     | 0.31%             | 2031-04-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| MARINER FINANCE ISSUANCE TRUST 2025-A                                                    | MFIT 2025-AA A                  | CUSIP: 567920AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $65410.97     | 0.51%             | 2038-05-20      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| ELARA HGV TIMESHARE ISSUER 2023-A LLC                                                    | EHGVT 2023-A A                  | CUSIP: 28415AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     93031 | PA      | $95576.62     | 0.75%             | 2038-02-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| OBX 2023-NQM5 TRUST                                                                      | OBX 2023-NQM5 A1A               | CUSIP: 673919AL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196766 | PA      | $196730.34    | 1.54%             | 2063-06-25      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| LENDMARK FUNDING TRUST 2025-3                                                            | LFT 2025-3A A                   | CUSIP: 525951AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $49670.63     | 0.39%             | 2035-05-21      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCKS FINANCE NORTH AMERICA LLC                                                 | DTRGR 4.5 04/12/31 144A         | CUSIP: 233853BL3<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9827.70      | 0.08%             | 2031-04-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                                                                 | TIBX 9 09/30/29 144A            | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24567.88     | 0.19%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                                                       | SUBWAY 2024-1A A2II             | CUSIP: 864300AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     29550 | PA      | $29781.66     | 0.23%             | 2054-07-30      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| HOMES 2023-NQM2 TRUST                                                                    | HOMES 2023-NQM2 A1              | CUSIP: 43761KAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    187891 | PA      | $187480.49    | 1.46%             | 2068-02-25      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| BAYPORT POLYMERS LLC                                                                     | BRLS 4.743 04/14/27 144A        | CUSIP: 073096AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24986.25     | 0.20%             | 2027-04-14      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                                                               | COF V4.722 01/30/32             | CUSIP: 14040HDP7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34591.93     | 0.27%             | 2032-01-30      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                                     | NEFINA 8 04/15/30 144A          | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $20809.32     | 0.16%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                                       | ALLY 8 11/01/31 *               | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     20000 | PA      | $22347.09     | 0.17%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PAWNEE EQUIPMENT RECEIVABLES (SERIES 2022-1) LLC                                         | PWNE 2022-1 B                   | CUSIP: 70410DAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6443 | PA      | $6446.52      | 0.05%             | 2028-07-17      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                                                     | NLSN 9.29 04/15/29 144A         | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14170.65     | 0.11%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATING COMPANY INC                                                    | HLT 5.875 04/01/29 144A         | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15215.10     | 0.12%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| OCTANE RECEIVABLES TRUST 2024-1                                                          | OCTL 2024-1A B                  | CUSIP: 67571FAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25245.91     | 0.20%             | 2030-05-20      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| NATIONAL GRID PLC                                                                        | NGGLN 5.602 06/12/28            | CUSIP: 636274AD4<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | DBT              | CORP              | GB        |     20000 | PA      | $20440.87     | 0.16%             | 2028-06-12      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST                                                                 | JPMMT 2024-CES1 A1A             | CUSIP: 46658CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22008 | PA      | $22118.81     | 0.17%             | 2054-06-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                                                     | FLTR 5.875 06/04/31 144A        | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |     25000 | PA      | $24926.00     | 0.19%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLDINGS INTERMEDIATE LLC                                                        | ALIANT 6.75 04/15/28 144A       | CUSIP: 01883LAE3<br>LEI: 5493006Q26653NF8SI73 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30401.16     | 0.24%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COMPANIES INC                                                                 | ACI 4.875 02/15/30 144A         | CUSIP: 013092AE1<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19589.47     | 0.15%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                                                            | GS F 01/21/32 .                 | CUSIP: 38141GD92<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9966.49      | 0.08%             | 2032-01-21      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS COMPANY                                                                  | SON 4.6 09/01/29                | CUSIP: 835495AR3<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24963.20     | 0.19%             | 2029-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                                                     | PPC 4.25 04/15/31               | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19237.78     | 0.15%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-24

**Name of Applicant:** Virtus ETF Trust II

**Signature:** Brinton W. Frith

**Name of Signer:** Brinton W. Frith

**Title:** Treasurer and Principal Financial Officer