# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-002975
**Filing Date:** 2026-1
**Character Count:** 100675
**Document Hash:** bb66851d8297b0d035f2f996dea8031e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-002975.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000894189-26-002975

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Series Solutions
- **CENTRAL INDEX KEY:** 0001540305

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1112

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22668
- **FILM NUMBER:** 26577568

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN ST
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN ST
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Vident U.S. Bond Strategy ETF (Series ID: S000046801)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000146217 | Vident U.S. Bond Strategy ETF | VBND            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Vident U.S. Bond Strategy ETF<sup>TM</sup>** | **Vident U.S. Bond Strategy ETF<sup>TM</sup>** | **Vident U.S. Bond Strategy ETF<sup>TM</sup>** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **U.S. TREASURY SECURITIES - 41.4%** | **Par** | **Value**  |
| United States Treasury Inflation Indexed Bonds | United States Treasury Inflation Indexed Bonds | United States Treasury Inflation Indexed Bonds |
| &nbsp;&nbsp; 2.13%, 04/15/2029 | 4410378 | $4528575 |
| &nbsp;&nbsp; 3.88%, 04/15/2029 | 4109560 | 4457128 |
| &nbsp;&nbsp; 1.63%, 04/15/2030 | 5764865 | 5835476 |
| &nbsp;&nbsp; 1.13%, 01/15/2033 | 2944053 | 2856792 |
| &nbsp;&nbsp; 1.38%, 07/15/2033 | 481253 | 474421 |
| &nbsp;&nbsp; 1.75%, 01/15/2034 | 5811465 | 5846012 |
| &nbsp;&nbsp; 1.88%, 07/15/2034 | 2846553 | 2891792 |
| &nbsp;&nbsp; 2.13%, 01/15/2035 | 7523379 | 7747721 |
| &nbsp;&nbsp; 1.88%, 07/15/2035 | 5158803 | 5206921 |
| &nbsp;&nbsp; 2.13%, 02/15/2040 | 9016380 | 9075255 |
| &nbsp;&nbsp; 2.13%, 02/15/2041 | 10011398 | 9981189 |
| &nbsp;&nbsp; 0.75%, 02/15/2042 | 9343230 | 7422667 |
| &nbsp;&nbsp; 0.63%, 02/15/2043 | 1370338 | 1042156 |
| &nbsp;&nbsp; 1.38%, 02/15/2044 | 5121627 | 4380636 |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 0.50%, 05/31/2027 | 15720000 | 15028565 |
| &nbsp;&nbsp; 0.50%, 06/30/2027 | 5590000 | 5331790 |
| &nbsp;&nbsp; 4.38%, 07/15/2027 | 6870000 | 6960437 |
| &nbsp;&nbsp; 2.75%, 07/31/2027 | 3045000 | 3006581 |
| &nbsp;&nbsp; 6.13%, 11/15/2027 | 18080000 | 18980469 |
| &nbsp;&nbsp; 4.00%, 11/15/2042 | 8095000 | 7568193 |
| &nbsp;&nbsp; 3.88%, 05/15/2043 | 2530000 | 2317223 |
| &nbsp;&nbsp; 4.38%, 08/15/2043 | 5515000 | 5377987 |
| &nbsp;&nbsp; 3.75%, 11/15/2043 | 3172000 | 2839312 |
| &nbsp;&nbsp; 4.75%, 11/15/2043 | 17030000 | 17386233 |
| &nbsp;&nbsp; 4.50%, 02/15/2044 | 6285000 | 6212084 |
| &nbsp;&nbsp; 4.63%, 05/15/2044 | 13650000 | 13692656 |
| &nbsp;&nbsp; 4.63%, 11/15/2044 | 10550000 | 10557418 |
| &nbsp;&nbsp; 4.75%, 02/15/2045 | 3375000 | 3429185 |
| &nbsp;&nbsp; 5.00%, 05/15/2045 | 10750000 | 11272383 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $200,202,046) | **TOTAL U.S. TREASURY SECURITIES** (Cost $200,202,046) | 201707257 |
| **CORPORATE BONDS - 39.3%** | **Par** | **Value**  |
| **Communications - 0.5%** | **Communications - 0.5%** | **Communications - 0.5%** |
|  Telefonica Emisiones SA, 5.21%, 03/08/2047 | 1200000 | 1072193 |
|  Warnermedia Holdings, Inc., 5.39%, 03/15/2062 | 2000000 | 1347500 |
|  |  | 2419693 |
| **Consumer Discretionary - 1.5%** | **Consumer Discretionary - 1.5%** | **Consumer Discretionary - 1.5%** |
|  Choice Hotels International, Inc., 5.85%, 08/01/2034 | 700000 | 719824 |
| General Motors Co. | General Motors Co. | General Motors Co. |
| &nbsp;&nbsp; 6.25%, 04/15/2035 | 650000 | 696616 |
| &nbsp;&nbsp; 6.25%, 10/02/2043 | 980000 | 1006943 |
| &nbsp;&nbsp; 6.75%, 04/01/2046 | 1750000 | 1899510 |
| &nbsp;&nbsp; 5.95%, 04/01/2049 | 1700000 | 1669767 |
|  Hasbro, Inc., 6.35%, 03/15/2040 | 700000 | 740957 |
|  Leggett & Platt, Inc., 3.50%, 11/15/2051 | 840000 | 549435 |
|  |  | 7283052 |
| **Consumer Staples - 0.3%** | **Consumer Staples - 0.3%** | **Consumer Staples - 0.3%** |
|  Conagra Brands, Inc., 5.40%, 11/01/2048 | 780000 | 717993 |
|  Flowers Foods, Inc., 5.75%, 03/15/2035 | 530000 | 535725 |
|  |  | 1253718 |
| **Energy - 6.3%** | **Energy - 6.3%** | **Energy - 6.3%** |
| APA Corp. | APA Corp. | APA Corp. |
| &nbsp;&nbsp; 5.10%, 09/01/2040 | 2000000 | 1783092 |
| &nbsp;&nbsp; 6.75%, 02/15/2055 | 2050000 | 2073493 |
| Devon Energy Corp. | Devon Energy Corp. | Devon Energy Corp. |
| &nbsp;&nbsp; 5.60%, 07/15/2041 | 1750000 | 1708868 |
| &nbsp;&nbsp; 5.00%, 06/15/2045 | 1140000 | 999411 |
| &nbsp;&nbsp; 5.75%, 09/15/2054 | 950000 | 885218 |
| Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
| &nbsp;&nbsp; 5.35%, 05/15/2045 | 1400000 | 1287640 |
| &nbsp;&nbsp; 6.25%, 04/15/2049 | 1380000 | 1388670 |
| &nbsp;&nbsp; 8.00% to 05/15/2029 then 5 yr. CMT Rate + 4.02%, 05/15/2054 | 1950000 | 2080884 |
| &nbsp;&nbsp; 6.50% to 02/15/2031 then 5 yr. CMT Rate + 2.68%, 02/15/2056 | 3100000 | 3060097 |
| &nbsp;&nbsp; 6.75% to 02/15/2036 then 5 yr. CMT Rate + 2.48%, 02/15/2056 | 2900000 | 2887684 |
|  Enterprise Products Operating LLC, 5.38% to 02/15/2028 then 3 mo. Term SOFR + 2.83%, 02/15/2078 | 1730000 | 1731559 |
|  Helmerich & Payne, Inc., 5.50%, 12/01/2034 | 1150000 | 1146706 |
|  HF Sinclair Corp., 6.25%, 01/15/2035 | 800000 | 843016 |
|  MPLX LP, 4.70%, 04/15/2048 | 1275000 | 1071779 |
| Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. |
| &nbsp;&nbsp; 6.45%, 09/15/2036 | 740000 | 790683 |
| &nbsp;&nbsp; 6.20%, 03/15/2040 | 1200000 | 1228099 |
| &nbsp;&nbsp; 6.60%, 03/15/2046 | 1035000 | 1079549 |
| &nbsp;&nbsp; 6.05%, 10/01/2054 | 940000 | 914786 |
| Ovintiv, Inc. | Ovintiv, Inc. | Ovintiv, Inc. |
| &nbsp;&nbsp; 7.38%, 11/01/2031 | 1100000 | 1230987 |
| &nbsp;&nbsp; 6.50%, 08/15/2034 | 500000 | 537626 |
| Plains All American Pipeline LP / PAA Finance Corp. | Plains All American Pipeline LP / PAA Finance Corp. | Plains All American Pipeline LP / PAA Finance Corp. |
| &nbsp;&nbsp; 6.65%, 01/15/2037 | 525000 | 575792 |
| &nbsp;&nbsp; 4.70%, 06/15/2044 | 1700000 | 1465115 |
|  |  | 30770754 |
| **Financials - 17.8%** | **Financials - 17.8%** | **Financials - 17.8%** |
|  Aegon Ltd., 5.50% to 04/11/2028 then 6 mo. LIBOR US + 3.54%, 04/11/2048 <sup>(a)</sup> | 1625000 | 1642152 |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | AerCap Ireland Capital DAC / AerCap Global Aviation Trust |
| &nbsp;&nbsp; 6.95% to 03/10/2030 then 5 yr. CMT Rate + 2.72%, 03/10/2055 | 4100000 | 4302321 |
| &nbsp;&nbsp; 6.50% to 01/31/2031 then 5 yr. CMT Rate + 2.44%, 01/31/2056 | 2700000 | 2777595 |
|  Allstate Corp., 6.50% to 05/15/2037 then 3 mo. LIBOR US + 2.12%, 05/15/2057 <sup>(a)</sup> | 1350000 | 1424482 |
| Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
| &nbsp;&nbsp; 6.70%, 02/14/2033 | 1550000 | 1623753 |
| &nbsp;&nbsp; 5.55% to 07/31/2032 then SOFR + 1.78%, 07/31/2033 | 1700000 | 1712987 |
| &nbsp;&nbsp; 6.65% to 01/17/2035 then 5 yr. CMT Rate + 2.45%, 01/17/2040 | 2900000 | 2915715 |
| American Assets Trust LP | American Assets Trust LP | American Assets Trust LP |
| &nbsp;&nbsp; 3.38%, 02/01/2031 | 925000 | 847788 |
| &nbsp;&nbsp; 6.15%, 10/01/2034 | 1340000 | 1372095 |
| Apollo Debt Solutions BDC | Apollo Debt Solutions BDC | Apollo Debt Solutions BDC |
| &nbsp;&nbsp; 6.90%, 04/13/2029 | 800000 | 839590 |
| &nbsp;&nbsp; 6.70%, 07/29/2031 | 900000 | 945805 |
| &nbsp;&nbsp; 6.55%, 03/15/2032 <sup>(b)</sup> | 1120000 | 1164344 |
|  Apollo Global Management, Inc., 6.00% to 12/15/2034 then 5 yr. CMT Rate + 2.17%, 12/15/2054 | 1650000 | 1621782 |
|  Ares Capital Corporation, 3.20%, 11/15/2031 | 1000000 | 886177 |
| Ares Strategic Income Fund | Ares Strategic Income Fund | Ares Strategic Income Fund |
| &nbsp;&nbsp; 5.45%, 09/09/2028 <sup>(b)</sup> | 1600000 | 1608320 |
| &nbsp;&nbsp; 5.60%, 02/15/2030 | 1800000 | 1810106 |
| &nbsp;&nbsp; 6.20%, 03/21/2032 | 1000000 | 1025209 |
| Athene Holding Ltd. | Athene Holding Ltd. | Athene Holding Ltd. |
| &nbsp;&nbsp; 6.63% to 10/15/2034 then 5 yr. CMT Rate + 2.61%, 10/15/2054 | 2450000 | 2399605 |
| &nbsp;&nbsp; 6.88% to 06/28/2035 then 5 yr. CMT Rate + 2.58%, 06/28/2055 | 2400000 | 2359463 |
|  Bank of East Asia Ltd. |  |  |
| &nbsp;&nbsp; 4.88% to 04/22/2027 then 5 yr. CMT Rate + 2.30%, 04/22/2032 | 1750000 | 1752728 |
| &nbsp;&nbsp; 6.75% to 06/27/2029 then 5 yr. CMT Rate + 2.55%, 06/27/2034 | 1500000 | 1582564 |
|  Bank of Montreal, 6.88% to 11/26/2030 then 5 yr. CMT Rate + 2.98%, 11/26/2085 | 2850000 | 2930903 |
|  Bank of Nova Scotia, 3.63% to 10/27/2026 then 5 yr. CMT Rate + 2.61%, 10/27/2081 | 5100000 | 4924048 |
|  BGC Group, Inc., 6.15%, 04/02/2030 | 1085000 | 1118925 |
|  Blackstone Private Credit Fund, 6.00%, 11/22/2034 | 840000 | 853038 |
|  Blue Owl Capital Corp., 6.20%, 07/15/2030 | 1150000 | 1173946 |
| Blue Owl Credit Income Corp. | Blue Owl Credit Income Corp. | Blue Owl Credit Income Corp. |
| &nbsp;&nbsp; 6.60%, 09/15/2029 | 1750000 | 1800831 |
| &nbsp;&nbsp; 6.65%, 03/15/2031 | 1700000 | 1756818 |
| Blue Owl Technology Finance Corp. | Blue Owl Technology Finance Corp. | Blue Owl Technology Finance Corp. |
| &nbsp;&nbsp; 6.10%, 03/15/2028 <sup>(b)</sup> | 1550000 | 1554153 |
| &nbsp;&nbsp; 6.75%, 04/04/2029 | 1500000 | 1527892 |
|  Brighthouse Financial, Inc., 4.70%, 06/22/2047 | 1840000 | 1380493 |
| Canadian Imperial Bank of Commerce | Canadian Imperial Bank of Commerce | Canadian Imperial Bank of Commerce |
| &nbsp;&nbsp; 6.95% to 01/28/2030 then 5 yr. CMT Rate + 2.83%, 01/28/2085 | 2700000 | 2764562 |
| &nbsp;&nbsp; 7.00% to 10/28/2030 then 5 yr. CMT Rate + 3.00%, 10/28/2085 | 1000000 | 1032079 |
|  Capital One Financial Corp., 6.18% to 01/30/2035 then SOFR + 2.04%, 01/30/2036 | 825000 | 865744 |
|  Deutsche Bank AG/New York NY, 7.08% to 02/10/2033 then SOFR + 3.65%, 02/10/2034 | 600000 | 660153 |
|  Elect Global Investments Ltd., 7.20% to 09/11/2030 then 5 yr. CMT Rate + 3.28%, Perpetual | 4550000 | 4736911 |
|  Equitable Holdings, Inc., 6.70% to 03/28/2035 then 5 yr. CMT Rate + 2.39%, 03/28/2055 | 1600000 | 1669024 |
|  F&G Annuities & Life, Inc., 6.50%, 06/04/2029 | 1290000 | 1345988 |
|  First Citizens BancShares, Inc./NC, 6.25% to 03/12/2035 then 5 yr. CMT Rate + 1.97%, 03/12/2040 | 1655000 | 1693793 |
|  FWD Group Holdings Ltd., 7.64%, 07/02/2031 | 550000 | 612149 |
|  GLP Capital LP / GLP Financing II, Inc., 5.75%, 11/01/2037 | 975000 | 974869 |
| HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. |
| &nbsp;&nbsp; 6.15%, 01/15/2031 | 1200000 | 1230013 |
| &nbsp;&nbsp; 6.38%, 07/01/2034 | 1920000 | 1961805 |
| HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund |
| &nbsp;&nbsp; 5.45%, 01/14/2028 | 950000 | 957650 |
| &nbsp;&nbsp; 6.75%, 01/30/2029 | 175000 | 182531 |
| &nbsp;&nbsp; 5.85%, 06/05/2030 <sup>(b)</sup> | 1450000 | 1467946 |
|  Huntington Bancshares, Inc., 2.49% to 08/15/2031 then 5 yr. CMT Rate + 1.17%, 08/15/2036 | 640000 | 554553 |
|  MetLife, Inc., 10.75%, 08/01/2039 | 1000000 | 1333128 |
|  Nanshan Life Pte Ltd., 5.45%, 09/11/2034 | 1340000 | 1332853 |
|  Reinsurance Group of America, Inc., 6.65% to 09/15/2035 then 5 yr. CMT Rate + 2.39%, 09/15/2055 | 1380000 | 1424911 |
|  Royal Bank of Canada, 6.35% to 11/24/2034 then 5 yr. CMT Rate + 2.26%, 11/24/2084 | 1250000 | 1233498 |
|  Synchrony Financial, 6.00% to 07/29/2035 then SOFR + 2.07%, 07/29/2036 | 750000 | 771569 |
|  Western Union Co., 6.20%, 11/17/2036 | 675000 | 707630 |
|  Zions Bancorp NA, 6.82% to 11/19/2034 then SOFR + 2.83%, 11/19/2035 | 1400000 | 1493568 |
|  |  | 86642555 |
| **Health Care - 2.1%** | **Health Care - 2.1%** | **Health Care - 2.1%** |
| Bayer US Finance II LLC | Bayer US Finance II LLC | Bayer US Finance II LLC |
| &nbsp;&nbsp; 4.40%, 07/15/2044 <sup>(b)</sup> | 2800000 | 2265103 |
| &nbsp;&nbsp; 4.70%, 07/15/2064 <sup>(b)</sup> | 1115000 | 853006 |
| Centene Corp. | Centene Corp. | Centene Corp. |
| &nbsp;&nbsp; 4.25%, 12/15/2027 | 1070000 | 1057696 |
| &nbsp;&nbsp; 4.63%, 12/15/2029 | 1350000 | 1306186 |
| &nbsp;&nbsp; 3.38%, 02/15/2030 | 2500000 | 2299842 |
| &nbsp;&nbsp; 2.50%, 03/01/2031 | 2200000 | 1898188 |
|  Humana, Inc., 6.00%, 05/01/2055 | 550000 | 546191 |
|  |  | 10226212 |
| **Industrials - 0.2%** | **Industrials - 0.2%** | **Industrials - 0.2%** |
|  FedEx Corp., 5.10%, 01/15/2044 | 1205000 | 1108426 |
| **Materials - 2.1%** | **Materials - 2.1%** | **Materials - 2.1%** |
|  Israel Chemicals Ltd. 6.375% SNR 31/05/38 USD1000, 6.38%, 05/31/2038 <sup>(b)</sup> | 2500000 | 2598835 |
| LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC |
| &nbsp;&nbsp; 6.15%, 05/15/2035 | 1000000 | 1034963 |
| &nbsp;&nbsp; 3.38%, 10/01/2040 | 2000000 | 1477516 |
| &nbsp;&nbsp; 4.20%, 10/15/2049 | 3500000 | 2567837 |
| &nbsp;&nbsp; 3.63%, 04/01/2051 | 2400000 | 1579947 |
| &nbsp;&nbsp; 3.80%, 10/01/2060 | 1800000 | 1148843 |
|  |  | 10407941 |
| **Utilities - 8.5%** | **Utilities - 8.5%** | **Utilities - 8.5%** |
| American Electric Power Co., Inc. | American Electric Power Co., Inc. | American Electric Power Co., Inc. |
| &nbsp;&nbsp; 6.95% to 12/15/2034 then 5 yr. CMT Rate + 2.68%, 12/15/2054 | 1050000 | 1138925 |
| &nbsp;&nbsp; 3.88% to 02/15/2027 then 5 yr. CMT Rate + 2.68%, 02/15/2062 | 1430000 | 1396603 |
| Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
| &nbsp;&nbsp; 6.88% to 02/01/2030 then 5 yr. CMT Rate + 2.39%, 02/01/2055 | 2000000 | 2087626 |
| &nbsp;&nbsp; 6.63% to 05/15/2035 then 5 yr. CMT Rate + 2.21%, 05/15/2055 | 2000000 | 2078220 |
| &nbsp;&nbsp; 6.00% to 02/15/2031 then 5 yr. CMT Rate + 2.26%, 02/15/2056 | 2500000 | 2530605 |
| &nbsp;&nbsp; 6.20% to 02/15/2036 then 5 yr. CMT Rate + 2.01%, 02/15/2056 | 1050000 | 1061247 |
|  Duke Energy Corp., 6.45% to 09/01/2034 then 5 yr. CMT Rate + 2.59%, 09/01/2054 | 835000 | 877532 |
| Edison International | Edison International | Edison International |
| &nbsp;&nbsp; 6.95%, 11/15/2029 | 650000 | 692621 |
| &nbsp;&nbsp; 5.25%, 03/15/2032 | 800000 | 801316 |
| &nbsp;&nbsp; 8.13% to 06/15/2028 then 5 yr. CMT Rate + 3.86%, 06/15/2053 | 4520000 | 4672478 |
|  Entergy Corp., 7.13% to 12/01/2029 then 5 yr. CMT Rate + 2.67%, 12/01/2054 | 1925000 | 2026515 |
|  Evergy, Inc., 6.65% to 06/01/2030 then 5 yr. CMT Rate + 2.56%, 06/01/2055 | 2125000 | 2174736 |
|  Exelon Corp., 6.50% to 03/15/2035 then 5 yr. CMT Rate + 1.98%, 03/15/2055 | 1675000 | 1752868 |
| NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
| &nbsp;&nbsp; 6.70% (5 yr. CMT Rate + 2.36%), 09/01/2054 | 3400000 | 3537098 |
| &nbsp;&nbsp; 4.80% to 12/01/2027 then 3 mo. LIBOR US + 2.41%, 12/01/2077 <sup>(a)</sup> | 3500000 | 3428413 |
| &nbsp;&nbsp; 3.80% to 03/15/2027 then 5 yr. CMT Rate + 2.55%, 03/15/2082 | 2700000 | 2650750 |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| &nbsp;&nbsp; 6.95% to 11/30/2029 then 5 yr. CMT Rate + 2.45%, 11/30/2054 | 2850000 | 2972046 |
| &nbsp;&nbsp; 6.38% to 03/31/2035 then 5 yr. CMT Rate + 2.53%, 03/31/2055 | 1200000 | 1244381 |
|  PacifiCorp, 7.38% to 09/15/2030 then 5 yr. CMT Rate + 3.32%, 09/15/2055 | 2145000 | 2183301 |
| Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
| &nbsp;&nbsp; 4.65%, 10/01/2043 | 1500000 | 1300229 |
| &nbsp;&nbsp; 5.90%, 03/01/2055 | 600000 | 592891 |
|  |  | 41200401 |
| **TOTAL CORPORATE BONDS** (Cost $190,415,290) | **TOTAL CORPORATE BONDS** (Cost $190,415,290) | 191312752 |
| **MORTGAGE-BACKED SECURITIES - 14.2%** | **Par** | **Value**  |
|  Federal Home Loan Mortgage Corp., 5.50%, 01/01/2055 | 1434403 | 1457152 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; 6.00%, 12/15/2040 <sup>(c)</sup> | 7300000 | 7475239 |
| &nbsp;&nbsp; 6.50%, 12/15/2041 <sup>(c)</sup> | 5600000 | 5801945 |
| &nbsp;&nbsp; 7.00%, 04/25/2053 <sup>(c)</sup> | 3400000 | 3566582 |
| &nbsp;&nbsp; 5.00%, 12/15/2040 <sup>(c)</sup> | 300000 | 299433 |
| &nbsp;&nbsp; 5.50%, 12/15/2040 <sup>(c)</sup> | 3600000 | 3645944 |
| &nbsp;&nbsp; 4.00%, 04/01/2052 | 2257748 | 2163059 |
| &nbsp;&nbsp; 6.50%, 04/01/2054 | 3118556 | 3239471 |
| &nbsp;&nbsp; 4.00%, 06/01/2052 | 3112490 | 2984716 |
| &nbsp;&nbsp; 4.00%, 05/01/2052 | 2976169 | 2853996 |
| &nbsp;&nbsp; 5.00%, 01/01/2055 | 2827057 | 2823970 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; 4.50%, 12/15/2041 <sup>(c)</sup> | 300000 | 293467 |
| &nbsp;&nbsp; 5.00%, 12/15/2048 <sup>(c)</sup> | 1170000 | 1168867 |
| &nbsp;&nbsp; 5.50%, 12/15/2052 <sup>(c)</sup> | 4120000 | 4161340 |
| &nbsp;&nbsp; 6.00%, 06/20/2053 <sup>(c)</sup> | 9825000 | 10015178 |
| &nbsp;&nbsp; 6.50%, 07/20/2053 <sup>(c)</sup> | 5555000 | 5727069 |
| &nbsp;&nbsp; 7.00%, 09/20/2053 <sup>(c)</sup> | 1530000 | 1575480 |
| &nbsp;&nbsp; 5.00%, 01/20/2055 | 3342171 | 3343481 |
| &nbsp;&nbsp; 6.00%, 06/20/2055 | 3445436 | 3518999 |
| &nbsp;&nbsp; 6.50%, 09/20/2055 | 2984047 | 3080742 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $69,172,089) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $69,172,089) | 69196130 |
| **U.S. GOVERNMENT AGENCY ISSUES - 3.0%** | **Par** | **Value**  |
| Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks |
| &nbsp;&nbsp; 4.13%, 01/15/2027 | 460000 | 462728 |
| &nbsp;&nbsp; 4.75%, 04/09/2027 | 825000 | 838856 |
| &nbsp;&nbsp; 5.50%, 07/15/2036 | 845000 | 937294 |
|  Federal Home Loan Mortgage Corp., 6.75%, 09/15/2029 | 700000 | 778738 |
|  Federal National Mortgage Association, 5.63%, 07/15/2037 | 1045000 | 1168198 |
| Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
| &nbsp;&nbsp; 4.38%, 08/01/2034 | 350000 | 358175 |
| &nbsp;&nbsp; 5.88%, 04/01/2036 | 820000 | 930992 |
| &nbsp;&nbsp; 6.15%, 01/15/2038 | 785000 | 929084 |
| &nbsp;&nbsp; 5.25%, 09/15/2039 | 800000 | 862415 |
| &nbsp;&nbsp; 3.50%, 12/15/2042 | 2185000 | 1862740 |
| &nbsp;&nbsp; 5.25%, 02/01/2055 | 1885000 | 1916782 |
| &nbsp;&nbsp; 5.38%, 04/01/2056 | 1965000 | 2052593 |
| &nbsp;&nbsp; 4.63%, 09/15/2060 | 1595000 | 1454155 |
| **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $14,487,729) | **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $14,487,729) | 14552750 |
| **FOREIGN GOVERNMENT DEBT OBLIGATIONS - 0.2%** | **Par** | **Value**  |
|  Israel Government International Bond, 5.75%, 03/12/2054 | 750000 | 733057 |
| **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $697,058) | **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $697,058) | 733057 |
| **TOTAL INVESTMENTS - 98.1% (**Cost $474,974,212**)** | **TOTAL INVESTMENTS - 98.1% (**Cost $474,974,212**)** | 477501946 |
| Other Assets in Excess of Liabilities - 1.9% | Other Assets in Excess of Liabilities - 1.9% | 9440814 |
| **TOTAL NET ASSETS - 100.0%** |  | $486942760 |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LIBOR - London Interbank Offered Rate |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| SOFR - Secured Overnight Financing Rate |

---

(a) Securities referencing LIBOR are expected to transition to an alternative reference rate by the security's next scheduled coupon reset date.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional
 investors. As of November 30, 2025, the value of these securities total $11,511,707 or 2.4% of the Fund's net assets.

(c) To-be-announced security.

------

#### Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
Vident U.S. Bond Strategy ETF<sup>TM</sup> (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - 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 instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - 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 based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | $– | $201707257 | $– | $201707257 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 191312752 | – | 191312752 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | – | 69196130 | – | 69196130 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Agency Issues | – | 14552750 | – | 14552750 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Foreign Government Debt Obligations | – | 733057 | – | 733057 |
| Total Investments | $– | $477501946 | $– | $477501946 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ETF Series Solutions

- **b. Investment Company Act file number:** 811-22668

- **c. CIK number of Registrant:** 0001540305

- **d. LEI of Registrant:** 5493008BB0X0GYS3UI50

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

  - **Street Address 1:** 615 E Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1645

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

- **a. Name of Series:** Vident U.S. Bond Strategy ETF

- **b. EDGAR series identifier (if any):** S000046801

- **c. LEI of Series:** 549300MY3MRI7YFRFJ97

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $530798188.90

**Total Liabilities:** $43853919.81

**Net Assets:** $486944269.09

**Delayed Delivery Securities:** $43690282.37

**Cash Not Reported:** $1710000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1503.616714000000 | **1-Year:** 14120.926163000000 | **5-Year:** 37147.336017000000 | **10-Year:** 156066.378891000000 | **30-Year:** 99987.154518000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 998.742940000000 | **5-Year:** 2618.273393000000 | **10-Year:** 2567.135508000000 | **30-Year:** 10909.855814000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146217 | 1.28%                | 0.54%                | 0.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $161191.80               | $4196116.24                                |
| Month 2  | $2371150.48              | $-1607272.27                               |
| Month 3  | $-53281.23               | $284514.22                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AERCAP IRELAND CAP/GLOBA               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   4100000 | PA      | $4302320.57   | 0.88%             | 2055-03-10      | Variable      | 6.95%                 | No            | 2                  | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MBQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2700000 | PA      | $2777595.30   | 0.57%             | 2056-01-31      | Variable      | 6.50%                 | No            | 2                  | On Loan: No      |
| AEGON LTD                              | Aegon Ltd                                                 | CUSIP: 007924AJ2<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | BM        |   1625000 | PA      | $1642151.88   | 0.34%             | 2048-04-11      | Variable      | 5.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae or Freddie Mac              | Fannie Mae or Freddie Mac                                 | CUSIP: 01F0506C5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $299433.08    | 0.06%             | 2040-12-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae or Freddie Mac              | Fannie Mae or Freddie Mac                                 | CUSIP: 01F0526C1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3600000 | PA      | $3645944.21   | 0.75%             | 2040-12-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae or Freddie Mac              | Fannie Mae or Freddie Mac                                 | CUSIP: 01F0606C4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-CBDO         | CORP              | US        |   7300000 | PA      | $7475239.42   | 1.54%             | 2040-12-15      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| EVERGY INC                             | Evergy Inc                                                | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |   2125000 | PA      | $2174735.63   | 0.45%             | 2055-06-01      | Variable      | 6.65%                 | No            | 2                  | On Loan: No      |
| EXELON CORP                            | Exelon Corp                                               | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   1675000 | PA      | $1752868.39   | 0.36%             | 2055-03-15      | Variable      | 6.50%                 | No            | 2                  | On Loan: No      |
| F&G ANNUITIES & LIFE INC               | F&G Annuities & Life Inc                                  | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1345987.56   | 0.28%             | 2029-06-04      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| FANNIE MAE                             | Federal National Mortgage Association                     | CUSIP: 31398AFD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |   1045000 | PA      | $1168198.46   | 0.24%             | 2037-07-15      | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                             | Fannie Mae Pool                                           | CUSIP: 3140MMBA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2257748 | PA      | $2163058.77   | 0.44%             | 2052-04-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                             | Fannie Mae Pool                                           | CUSIP: 3140XPXF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3118556 | PA      | $3239471.54   | 0.67%             | 2054-04-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                             | Fannie Mae Pool                                           | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3112490 | PA      | $2984716.18   | 0.61%             | 2052-06-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                             | Fannie Mae Pool                                           | CUSIP: 31418EES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2976169 | PA      | $2853996.02   | 0.59%             | 2052-05-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                             | Fannie Mae Pool                                           | CUSIP: 31418FF36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2827057 | PA      | $2823970.59   | 0.58%             | 2055-01-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591FB3<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    350000 | PA      | $358175.01    | 0.07%             | 2034-08-01      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591FC1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   1885000 | PA      | $1916781.70   | 0.39%             | 2055-02-01      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 912810FH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4109560 | PA      | $4457127.64   | 0.92%             | 2029-04-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| OVINTIV INC                            | Ovintiv Inc                                               | CUSIP: 012873AK1<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1230986.68   | 0.25%             | 2031-11-01      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| OVINTIV INC                            | Ovintiv Inc                                               | CUSIP: 292505AD6<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    500000 | PA      | $537625.94    | 0.11%             | 2034-08-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| STATE OF ISRAEL                        | Israel Government International Bond                      | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    750000 | PA      | $733057.00    | 0.15%             | 2054-03-12      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| NISOURCE INC                           | NiSource Inc                                              | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1244380.80   | 0.26%             | 2055-03-31      | Variable      | 6.38%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM COR               | Occidental Petroleum Corp                                 | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    740000 | PA      | $790682.60    | 0.16%             | 2036-09-15      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM COR               | Occidental Petroleum Corp                                 | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1228099.20   | 0.25%             | 2040-03-15      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM COR               | Occidental Petroleum Corp                                 | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1079549.51   | 0.22%             | 2046-03-15      | Fixed         | 6.60%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM COR               | Occidental Petroleum Corp                                 | CUSIP: 674599EM3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    940000 | PA      | $914786.10    | 0.19%             | 2054-10-01      | Fixed         | 6.05%                 | No            | 2                  | On Loan: No      |
| PACIFICORP                             | PacifiCorp                                                | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |   2145000 | PA      | $2183301.12   | 0.45%             | 2055-09-15      | Variable      | 7.38%                 | No            | 2                  | On Loan: No      |
| PLAINS ALL AMER PIPELINE               | Plains All American Pipeline LP / PAA Finance Corp        | CUSIP: 72650RAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $575792.08    | 0.12%             | 2037-01-15      | Fixed         | 6.65%                 | No            | 2                  | On Loan: No      |
| PLAINS ALL AMER PIPELINE               | Plains All American Pipeline LP / PAA Finance Corp        | CUSIP: 72650RBE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1465115.30   | 0.30%             | 2044-06-15      | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| REINSURANCE GRP OF AMER                | Reinsurance Group of America Inc                          | CUSIP: 759351AT6<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1424910.72   | 0.29%             | 2055-09-15      | Variable      | 6.65%                 | No            | 2                  | On Loan: No      |
| ROYAL BANK OF CANADA                   | Royal Bank of Canada                                      | CUSIP: 780082AT0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1250000 | PA      | $1233497.63   | 0.25%             | 2084-11-24      | Variable      | 6.35%                 | No            | 2                  | On Loan: No      |
| SOUTHERN CAL EDISON                    | Southern California Edison Co                             | CUSIP: 842400FZ1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1300229.37   | 0.27%             | 2043-10-01      | Fixed         | 4.65%                 | No            | 2                  | On Loan: No      |
| SOUTHERN CAL EDISON                    | Southern California Edison Co                             | CUSIP: 842400JH7<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    600000 | PA      | $592890.97    | 0.12%             | 2055-03-01      | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| SYNCHRONY FINANCIAL                    | Synchrony Financial                                       | CUSIP: 87165BAY9<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    750000 | PA      | $771569.26    | 0.16%             | 2036-07-29      | Variable      | 6.00%                 | No            | 2                  | On Loan: No      |
| TELEFONICA EMISIONES SAU               | Telefonica Emisiones SA                                   | CUSIP: 87938WAU7<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |   1200000 | PA      | $1072192.74   | 0.22%             | 2047-03-08      | Fixed         | 5.21%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591CP5<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    785000 | PA      | $929084.06    | 0.19%             | 2038-01-15      | Fixed         | 6.15%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591CS9<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    820000 | PA      | $930992.26    | 0.19%             | 2036-04-01      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591DZ2<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   1965000 | PA      | $2052592.76   | 0.42%             | 2056-04-01      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591EH1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    800000 | PA      | $862415.06    | 0.18%             | 2039-09-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591EJ7<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   1595000 | PA      | $1454154.48   | 0.30%             | 2060-09-15      | Fixed         | 4.62%                 | No            | 2                  | On Loan: No      |
| TENN VALLEY AUTHORITY                  | Tennessee Valley Authority                                | CUSIP: 880591EP3<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   2185000 | PA      | $1862740.40   | 0.38%             | 2042-12-15      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| HF SINCLAIR CORP                       | HF Sinclair Corp                                          | CUSIP: 403949AS9<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    800000 | PA      | $843015.63    | 0.17%             | 2035-01-15      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| HA SUSTAINABLE INF CAP                 | HA Sustainable Infrastructure Capital Inc                 | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1961804.95   | 0.40%             | 2034-07-01      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| HASBRO INC                             | Hasbro Inc                                                | CUSIP: 418056AS6<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |    700000 | PA      | $740957.04    | 0.15%             | 2040-03-15      | Fixed         | 6.35%                 | No            | 2                  | On Loan: No      |
| HELMERICH & PAYNE INC                  | Helmerich & Payne Inc                                     | CUSIP: 423452AN1<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1146706.19   | 0.24%             | 2034-12-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae or Freddie Mac              | Fannie Mae or Freddie Mac                                 | CUSIP: 01F0626C0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5600000 | PA      | $5801945.18   | 1.19%             | 2041-12-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae or Freddie Mac              | Fannie Mae or Freddie Mac                                 | CUSIP: 01F0706C3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-CBDO         | CORP              | US        |   3400000 | PA      | $3566581.78   | 0.73%             | 2053-04-25      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LOAN BANK                 | Federal Home Loan Banks                                   | CUSIP: 3130AYPN0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    460000 | PA      | $462728.27    | 0.10%             | 2027-01-15      | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LOAN BANK                 | Federal Home Loan Banks                                   | CUSIP: 3130B0TY5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    825000 | PA      | $838856.09    | 0.17%             | 2027-04-09      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| WARNERMEDIA HOLDINGS INC               | Warnermedia Holdings Inc                                  | CUSIP: 55903VBF9<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1347500.00   | 0.28%             | 2062-03-15      | Fixed         | 5.39%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8095000 | PA      | $7568192.62   | 1.55%             | 2042-11-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2530000 | PA      | $2317223.05   | 0.48%             | 2043-05-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5515000 | PA      | $5377986.72   | 1.10%             | 2043-08-15      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17030000 | PA      | $17386233.03  | 3.57%             | 2043-11-15      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6285000 | PA      | $6212084.20   | 1.28%             | 2044-02-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13650000 | PA      | $13692656.25  | 2.81%             | 2044-05-15      | Fixed         | 4.62%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10550000 | PA      | $10557417.92  | 2.17%             | 2044-11-15      | Fixed         | 4.62%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3375000 | PA      | $3429184.58   | 0.70%             | 2045-02-15      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10750000 | PA      | $11272382.81  | 2.31%             | 2045-05-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912828ZS2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15720000 | PA      | $15028565.55  | 3.09%             | 2027-05-31      | Fixed         | 0.50%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912828ZV5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5590000 | PA      | $5331790.02   | 1.09%             | 2027-06-30      | Fixed         | 0.50%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 91282CFB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3045000 | PA      | $3006580.66   | 0.62%             | 2027-07-31      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 91282CKZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6870000 | PA      | $6960437.09   | 1.43%             | 2027-07-15      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| WESTERN UNION CO/THE                   | Western Union Co/The                                      | CUSIP: 959802AH2<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |    675000 | PA      | $707630.26    | 0.15%             | 2036-11-17      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| ZIONS BANCORP NA                       | Zions Bancorp NA                                          | CUSIP: 98971DAC4<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1493567.57   | 0.31%             | 2035-11-19      | Variable      | 6.82%                 | No            | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                     | Ally Financial Inc                                        | CUSIP: 02005NBS8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1623752.89   | 0.33%             | 2033-02-14      | Fixed         | 6.70%                 | No            | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                     | Ally Financial Inc                                        | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2915715.16   | 0.60%             | 2040-01-17      | Variable      | 6.65%                 | No            | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                     | Ally Financial Inc                                        | CUSIP: 02005NCA6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1712987.20   | 0.35%             | 2033-07-31      | Variable      | 5.55%                 | No            | 2                  | On Loan: No      |
| AMERICAN ASSETS TRUST LP               | American Assets Trust LP                                  | CUSIP: 02401LAA2<br>LEI: 549300V1TI0SMG9Z6U69 | Long             | DBT              | CORP              | US        |    925000 | PA      | $847787.86    | 0.17%             | 2031-02-01      | Fixed         | 3.38%                 | No            | 2                  | On Loan: No      |
| BLUE OWL CREDIT INCOME                 | Blue Owl Credit Income Corp                               | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1800831.11   | 0.37%             | 2029-09-15      | Fixed         | 6.60%                 | No            | 2                  | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA               | Blue Owl Technology Finance Corp                          | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1554152.71   | 0.32%             | 2028-03-15      | Fixed         | 6.10%                 | No            | 2                  | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN               | Brighthouse Financial Inc                                 | CUSIP: 10922NAF0<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1380492.64   | 0.28%             | 2047-06-22      | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| CANADIAN IMPERIAL BANK                 | Canadian Imperial Bank of Commerce                        | CUSIP: 13607P7Y4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1032079.00   | 0.21%             | 2085-10-28      | Variable      | 7.00%                 | No            | 2                  | On Loan: No      |
| CANADIAN IMPERIAL BANK                 | Canadian Imperial Bank of Commerce                        | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   2700000 | PA      | $2764562.40   | 0.57%             | 2085-01-28      | Variable      | 6.95%                 | No            | 2                  | On Loan: No      |
| CAPITAL ONE FINANCIAL CO               | Capital One Financial Corp                                | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    825000 | PA      | $865743.78    | 0.18%             | 2036-01-30      | Variable      | 6.18%                 | No            | 2                  | On Loan: No      |
| CENTENE CORP                           | Centene Corp                                              | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1057695.75   | 0.22%             | 2027-12-15      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| CENTENE CORP                           | Centene Corp                                              | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1306186.16   | 0.27%             | 2029-12-15      | Fixed         | 4.62%                 | No            | 2                  | On Loan: No      |
| CENTENE CORP                           | Centene Corp                                              | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2299842.25   | 0.47%             | 2030-02-15      | Fixed         | 3.38%                 | No            | 2                  | On Loan: No      |
| CENTENE CORP                           | Centene Corp                                              | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1898187.50   | 0.39%             | 2031-03-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| CHOICE HOTELS INTL INC                 | Choice Hotels International Inc                           | CUSIP: 169905AH9<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |    700000 | PA      | $719824.26    | 0.15%             | 2034-08-01      | Fixed         | 5.85%                 | No            | 2                  | On Loan: No      |
| CONAGRA BRANDS INC                     | Conagra Brands Inc                                        | CUSIP: 205887CE0<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    780000 | PA      | $717992.58    | 0.15%             | 2048-11-01      | Fixed         | 5.40%                 | No            | 2                  | On Loan: No      |
| DEUTSCHE BANK NY                       | Deutsche Bank AG/New York NY                              | CUSIP: 251526CT4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    600000 | PA      | $660152.93    | 0.14%             | 2034-02-10      | Variable      | 7.08%                 | No            | 2                  | On Loan: No      |
| DEVON ENERGY CORPORATION               | Devon Energy Corp                                         | CUSIP: 25179MAL7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1708867.55   | 0.35%             | 2041-07-15      | Fixed         | 5.60%                 | No            | 2                  | On Loan: No      |
| DEVON ENERGY CORPORATION               | Devon Energy Corp                                         | CUSIP: 25179MAU7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $999411.39    | 0.21%             | 2045-06-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| DEVON ENERGY CORPORATION               | Devon Energy Corp                                         | CUSIP: 25179MBH5<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    950000 | PA      | $885217.96    | 0.18%             | 2054-09-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| DOMINION ENERGY INC                    | Dominion Energy Inc                                       | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2087625.98   | 0.43%             | 2055-02-01      | Variable      | 6.88%                 | No            | 2                  | On Loan: No      |
| DOMINION ENERGY INC                    | Dominion Energy Inc                                       | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2078220.00   | 0.43%             | 2055-05-15      | Variable      | 6.62%                 | No            | 2                  | On Loan: No      |
| DOMINION ENERGY INC                    | Dominion Energy Inc                                       | CUSIP: 25746UDZ9<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2530605.48   | 0.52%             | 2056-02-15      | Variable      | 6.00%                 | No            | 2                  | On Loan: No      |
| DOMINION ENERGY INC                    | Dominion Energy Inc                                       | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1061246.88   | 0.22%             | 2056-02-15      | Variable      | 6.20%                 | No            | 2                  | On Loan: No      |
| HPS CORPORATE LENDING FU               | HPS Corporate Lending Fund                                | CUSIP: 40440VAF2<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    175000 | PA      | $182531.29    | 0.04%             | 2029-01-30      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| HPS CORPORATE LENDING FU               | HPS Corporate Lending Fund                                | CUSIP: 40440VAH8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    950000 | PA      | $957650.13    | 0.20%             | 2028-01-14      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| HPS CORPORATE LENDING FU               | HPS Corporate Lending Fund                                | CUSIP: 40440VAN5<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1467946.39   | 0.30%             | 2030-06-05      | Fixed         | 5.85%                 | No            | 2                  | On Loan: No      |
| HUMANA INC                             | Humana Inc                                                | CUSIP: 444859CC4<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    550000 | PA      | $546191.21    | 0.11%             | 2055-05-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| HUNTINGTON BANCSHARES                  | Huntington Bancshares Inc/OH                              | CUSIP: 446150AX2<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    640000 | PA      | $554552.91    | 0.11%             | 2036-08-15      | Variable      | 2.49%                 | No            | 2                  | On Loan: No      |
| LYB INT FINANCE III                    | LYB International Finance III LLC                         | CUSIP: 50249AAA1<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $2567837.13   | 0.53%             | 2049-10-15      | Fixed         | 4.20%                 | No            | 2                  | On Loan: No      |
| LYB INT FINANCE III                    | LYB International Finance III LLC                         | CUSIP: 50249AAH6<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1477515.98   | 0.30%             | 2040-10-01      | Fixed         | 3.38%                 | No            | 2                  | On Loan: No      |
| LYB INT FINANCE III                    | LYB International Finance III LLC                         | CUSIP: 50249AAJ2<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $1579947.29   | 0.32%             | 2051-04-01      | Fixed         | 3.62%                 | No            | 2                  | On Loan: No      |
| LYB INT FINANCE III                    | LYB International Finance III LLC                         | CUSIP: 50249AAK9<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1148843.03   | 0.24%             | 2060-10-01      | Fixed         | 3.80%                 | No            | 2                  | On Loan: No      |
| LYB INT FINANCE III                    | LYB International Finance III LLC                         | CUSIP: 50249AAP8<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1034962.36   | 0.21%             | 2035-05-15      | Fixed         | 6.15%                 | No            | 2                  | On Loan: No      |
| LEGGETT & PLATT INC                    | Leggett & Platt Inc                                       | CUSIP: 524660BA4<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | DBT              | CORP              | US        |    840000 | PA      | $549435.08    | 0.11%             | 2051-11-15      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| MPLX LP                                | MPLX LP                                                   | CUSIP: 55336VAN0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1071779.51   | 0.22%             | 2048-04-15      | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| METLIFE INC                            | MetLife Inc                                               | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1333128.00   | 0.27%             | 2039-08-01      | Fixed         | 10.75%                | No            | 2                  | On Loan: No      |
| NEXTERA ENERGY CAPITAL                 | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KAV2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3428412.75   | 0.70%             | 2077-12-01      | Variable      | 4.80%                 | No            | 2                  | On Loan: No      |
| NEXTERA ENERGY CAPITAL                 | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KCB4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2650750.11   | 0.54%             | 2082-03-15      | Variable      | 3.80%                 | No            | 2                  | On Loan: No      |
| NEXTERA ENERGY CAPITAL                 | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3537098.20   | 0.73%             | 2054-09-01      | Variable      | 6.70%                 | No            | 2                  | On Loan: No      |
| NISOURCE INC                           | NiSource Inc                                              | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   2850000 | PA      | $2972045.55   | 0.61%             | 2054-11-30      | Variable      | 6.95%                 | No            | 2                  | On Loan: No      |
| BLUE OWL CREDIT INCOME                 | Blue Owl Credit Income Corp                               | CUSIP: 69120VAZ4<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1756818.35   | 0.36%             | 2031-03-15      | Fixed         | 6.65%                 | No            | 2                  | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA               | Blue Owl Technology Finance Corp                          | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1527891.65   | 0.31%             | 2029-04-04      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| BLUE OWL CAPITAL CORP                  | Blue Owl Capital Corp                                     | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1173945.79   | 0.24%             | 2030-07-15      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 912810QF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9016380 | PA      | $9075255.52   | 1.86%             | 2040-02-15      | Fixed         | 2.12%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 912810QP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10011398 | PA      | $9981188.91   | 2.05%             | 2041-02-15      | Fixed         | 2.12%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 912810QV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9343230 | PA      | $7422666.66   | 1.52%             | 2042-02-15      | Fixed         | 0.75%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 912810RA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1370338 | PA      | $1042156.43   | 0.21%             | 2043-02-15      | Fixed         | 0.62%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 912810RF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5121627 | PA      | $4380636.56   | 0.90%             | 2044-02-15      | Fixed         | 1.38%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CGK1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2944053 | PA      | $2856792.03   | 0.59%             | 2033-01-15      | Fixed         | 1.12%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CHP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    481252 | PA      | $474421.24    | 0.10%             | 2033-07-15      | Fixed         | 1.38%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5811465 | PA      | $5846012.47   | 1.20%             | 2034-01-15      | Fixed         | 1.75%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4410378 | PA      | $4528574.67   | 0.93%             | 2029-04-15      | Fixed         | 2.12%                 | No            | 2                  | On Loan: No      |
| ICL GROUP LIMITED                      | ICL Group Ltd                                             | CUSIP: AS6777633<br>LEI: 529900FQVQD88SHIGM04 | Long             | DBT              | CORP              | IL        |   2500000 | PA      | $2598835.00   | 0.53%             | 2038-05-31      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| NANSHAN LIFE PTE LTD                   | Nanshan Life Pte Ltd                                      | CUSIP: YV5764605<br>LEI: 2138006QCWSN6N7E1140 | Long             | DBT              | CORP              | SG        |   1340000 | PA      | $1332852.82   | 0.27%             | 2034-09-11      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| ALLSTATE CORP                          | Allstate Corp/The                                         | CUSIP: 020002AU5<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1424482.20   | 0.29%             | 2057-05-15      | Variable      | 6.50%                 | No            | 2                  | On Loan: No      |
| AMERICAN ASSETS TRUST LP               | American Assets Trust LP                                  | CUSIP: 02401LAB0<br>LEI: 549300V1TI0SMG9Z6U69 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1372094.98   | 0.28%             | 2034-10-01      | Fixed         | 6.15%                 | No            | 2                  | On Loan: No      |
| AMERICAN ELECTRIC POWER                | American Electric Power Co Inc                            | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1396602.78   | 0.29%             | 2062-02-15      | Variable      | 3.88%                 | No            | 2                  | On Loan: No      |
| AMERICAN ELECTRIC POWER                | American Electric Power Co Inc                            | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1138925.55   | 0.23%             | 2054-12-15      | Variable      | 6.95%                 | No            | 2                  | On Loan: No      |
| APA CORP                               | APA Corp                                                  | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2073492.90   | 0.43%             | 2055-02-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| APA CORP                               | APA Corp                                                  | CUSIP: 03743QBB3<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1783091.86   | 0.37%             | 2040-09-01      | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT               | Apollo Global Management Inc                              | CUSIP: 03769MAD8<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1621781.54   | 0.33%             | 2054-12-15      | Variable      | 6.00%                 | No            | 2                  | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD               | Apollo Debt Solutions BDC                                 | CUSIP: 03770DAB9<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    800000 | PA      | $839590.42    | 0.17%             | 2029-04-13      | Fixed         | 6.90%                 | No            | 2                  | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD               | Apollo Debt Solutions BDC                                 | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    900000 | PA      | $945804.90    | 0.19%             | 2031-07-29      | Fixed         | 6.70%                 | No            | 2                  | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD               | Apollo Debt Solutions BDC                                 | CUSIP: 03770DAE3<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1164343.87   | 0.24%             | 2032-03-15      | Fixed         | 6.55%                 | No            | 2                  | On Loan: No      |
| ARES CAPITAL CORP                      | Ares Capital Corp                                         | CUSIP: 04010LBC6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $886177.16    | 0.18%             | 2031-11-15      | Fixed         | 3.20%                 | No            | 2                  | On Loan: No      |
| ARES STRATEGIC INCOME FU               | Ares Strategic Income Fund                                | CUSIP: 04020EAD9<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1810105.74   | 0.37%             | 2030-02-15      | Fixed         | 5.60%                 | No            | 2                  | On Loan: No      |
| ARES STRATEGIC INCOME FU               | Ares Strategic Income Fund                                | CUSIP: 04020EAJ6<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1025208.69   | 0.21%             | 2032-03-21      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| ARES STRATEGIC INCOME FU               | Ares Strategic Income Fund                                | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1608319.98   | 0.33%             | 2028-09-09      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| ATHENE HOLDING LTD                     | Athene Holding Ltd                                        | CUSIP: 04686JAJ0<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2399605.46   | 0.49%             | 2054-10-15      | Variable      | 6.62%                 | No            | 2                  | On Loan: No      |
| ATHENE HOLDING LTD                     | Athene Holding Ltd                                        | CUSIP: 04686JAM3<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2359463.04   | 0.48%             | 2055-06-28      | Variable      | 6.88%                 | No            | 2                  | On Loan: No      |
| BGC GROUP INC                          | BGC Group Inc                                             | CUSIP: 05555LAD3<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1118925.53   | 0.23%             | 2030-04-02      | Fixed         | 6.15%                 | No            | 2                  | On Loan: No      |
| BANK OF MONTREAL                       | Bank of Montreal                                          | CUSIP: 06368L8V1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2850000 | PA      | $2930902.95   | 0.60%             | 2085-11-26      | Variable      | 6.88%                 | No            | 2                  | On Loan: No      |
| BANK OF NOVA SCOTIA                    | Bank of Nova Scotia/The                                   | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   5100000 | PA      | $4924048.47   | 1.01%             | 2081-10-27      | Variable      | 3.62%                 | No            | 2                  | On Loan: No      |
| BAYER US FINANCE II LLC                | Bayer US Finance II LLC                                   | CUSIP: 07274NBF9<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2265102.84   | 0.47%             | 2044-07-15      | Fixed         | 4.40%                 | No            | 2                  | On Loan: No      |
| BAYER US FINANCE II LLC                | Bayer US Finance II LLC                                   | CUSIP: 07274NBH5<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $853006.41    | 0.18%             | 2064-07-15      | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| BLACKSTONE PRIVATE CRE                 | Blackstone Private Credit Fund                            | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    840000 | PA      | $853038.52    | 0.18%             | 2034-11-22      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae                                                | CUSIP: 21H0626C6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | CORP              | US        |   5555000 | PA      | $5727068.96   | 1.18%             | 2053-07-20      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae                                                | CUSIP: 21H0706C9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | CORP              | US        |   1530000 | PA      | $1575480.03   | 0.32%             | 2053-09-20      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| DUKE ENERGY CORP                       | Duke Energy Corp                                          | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    835000 | PA      | $877532.40    | 0.18%             | 2054-09-01      | Variable      | 6.45%                 | No            | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                   | Edison International                                      | CUSIP: 281020AW7<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    650000 | PA      | $692621.13    | 0.14%             | 2029-11-15      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                   | Edison International                                      | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   4520000 | PA      | $4672477.68   | 0.96%             | 2053-06-15      | Variable      | 8.12%                 | No            | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                   | Edison International                                      | CUSIP: 281020BB2<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    800000 | PA      | $801315.64    | 0.16%             | 2032-03-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                     | Energy Transfer LP                                        | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $2080884.00   | 0.43%             | 2054-05-15      | Variable      | 8.00%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                     | Energy Transfer LP                                        | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3060097.11   | 0.63%             | 2056-02-15      | Variable      | 6.50%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                     | Energy Transfer LP                                        | CUSIP: 29273VBH2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2887683.70   | 0.59%             | 2056-02-15      | Variable      | 6.75%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                     | Energy Transfer LP                                        | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1388670.37   | 0.29%             | 2049-04-15      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| ENTERGY CORP                           | Entergy Corp                                              | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $2026514.88   | 0.42%             | 2054-12-01      | Variable      | 7.12%                 | No            | 2                  | On Loan: No      |
| ENTERPRISE PRODUCTS OPER               | Enterprise Products Operating LLC                         | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1731558.90   | 0.36%             | 2078-02-15      | Variable      | 5.38%                 | No            | 2                  | On Loan: No      |
| EQUITABLE HOLDINGS INC                 | Equitable Holdings Inc                                    | CUSIP: 29452EAD3<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1669024.00   | 0.34%             | 2055-03-28      | Variable      | 6.70%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae II Pool                                        | CUSIP: 3618N5EU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3342171 | PA      | $3343480.88   | 0.69%             | 2055-01-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae II Pool                                        | CUSIP: 3618N5PK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3445436 | PA      | $3518998.65   | 0.72%             | 2055-06-20      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae II Pool                                        | CUSIP: 3618N5VT3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2984047 | PA      | $3080742.24   | 0.63%             | 2055-09-20      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| HA SUSTAINABLE INF CAP                 | HA Sustainable Infrastructure Capital Inc                 | CUSIP: 40408AAA9<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1230012.80   | 0.25%             | 2031-01-15      | Fixed         | 6.15%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                     | Energy Transfer LP                                        | CUSIP: 86765BAQ2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1287639.56   | 0.26%             | 2045-05-15      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| ELECT GLOBAL INV LTD                   | Elect Global Investments Ltd                              | CUSIP: YQ0494258<br>LEI: 254900MGJD77N8VPNK65 | Long             | DBT              | CORP              | VG        |   4550000 | PA      | $4736911.18   | 0.97%             | 2030-09-11      | Variable      | 7.20%                 | No            | 2                  | On Loan: No      |
| BANK OF EAST ASIA LTD                  | Bank of East Asia Ltd/The                                 | CUSIP: BV9226747<br>LEI: CO6GC26LCGGRTUESIP55 | Long             | DBT              | CORP              | HK        |   1750000 | PA      | $1752728.32   | 0.36%             | 2032-04-22      | Variable      | 4.88%                 | No            | 2                  | On Loan: No      |
| BANK OF EAST ASIA LTD                  | Bank of East Asia Ltd/The                                 | CUSIP: YX8596133<br>LEI: CO6GC26LCGGRTUESIP55 | Long             | DBT              | CORP              | HK        |   1500000 | PA      | $1582563.54   | 0.32%             | 2034-06-27      | Variable      | 6.75%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae                                                | CUSIP: 21H0426C8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $293466.80    | 0.06%             | 2041-12-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae                                                | CUSIP: 21H0506C1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGSE             | US        |   1170000 | PA      | $1168867.29   | 0.24%             | 2048-12-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae                                                | CUSIP: 21H0526C7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4120000 | PA      | $4161339.67   | 0.85%             | 2052-12-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage A         | Ginnie Mae                                                | CUSIP: 21H0606C0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | CORP              | US        |   9825000 | PA      | $10015177.61  | 2.06%             | 2053-06-20      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LOAN BANK                 | Federal Home Loan Banks                                   | CUSIP: 3133XGAY0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    845000 | PA      | $937293.82    | 0.19%             | 2036-07-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| FREDDIE MAC                            | Federal Home Loan Mortgage Corp                           | CUSIP: 3134A3U46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |    700000 | PA      | $778737.51    | 0.16%             | 2029-09-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                            | Freddie Mac Pool                                          | CUSIP: 31427QHA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1434403 | PA      | $1457151.60   | 0.30%             | 2055-01-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| FEDEX CORP                             | FedEx Corp                                                | CUSIP: 31428XDP8<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1108426.24   | 0.23%             | 2044-01-15      | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| FIRST CITIZENS BANCSHARE               | First Citizens BancShares Inc/NC                          | CUSIP: 31959XAF0<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1693793.20   | 0.35%             | 2040-03-12      | Variable      | 6.25%                 | No            | 2                  | On Loan: No      |
| FLOWERS FOODS INC                      | Flowers Foods Inc                                         | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |    530000 | PA      | $535724.94    | 0.11%             | 2035-03-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| GLP CAPITAL LP / FIN II                | GLP Capital LP / GLP Financing II Inc                     | CUSIP: 361841AW9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    975000 | PA      | $974868.77    | 0.20%             | 2037-11-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| GENERAL MOTORS CO                      | General Motors Co                                         | CUSIP: 37045VAF7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1006942.74   | 0.21%             | 2043-10-02      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| GENERAL MOTORS CO                      | General Motors Co                                         | CUSIP: 37045VAL4<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1899510.38   | 0.39%             | 2046-04-01      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| GENERAL MOTORS CO                      | General Motors Co                                         | CUSIP: 37045VAT7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1669767.08   | 0.34%             | 2049-04-01      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| GENERAL MOTORS CO                      | General Motors Co                                         | CUSIP: 37045VBB5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    650000 | PA      | $696615.42    | 0.14%             | 2035-04-15      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account | U.S. Bank Money Market Deposit Account                    | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  47057107 | NS      | $47057106.53  | 9.66%             |  |  |  | No            | N/A                | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810FB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18080000 | PA      | $18980468.80  | 3.90%             | 2027-11-15      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond                          | CUSIP: 912810RD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3172000 | PA      | $2839311.73   | 0.58%             | 2043-11-15      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CLE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2846552 | PA      | $2891791.62   | 0.59%             | 2034-07-15      | Fixed         | 1.88%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7523379 | PA      | $7747720.72   | 1.59%             | 2035-01-15      | Fixed         | 2.12%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5764864 | PA      | $5835475.85   | 1.20%             | 2030-04-15      | Fixed         | 1.62%                 | No            | 2                  | On Loan: No      |
| TSY INFL IX N/B                        | United States Treasury Inflation Indexed Bonds            | CUSIP: 91282CNS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5158803 | PA      | $5206921.43   | 1.07%             | 2035-07-15      | Fixed         | 1.88%                 | No            | 2                  | On Loan: No      |
| FWD GROUP HOLDINGS LTD                 | FWD Group Holdings Ltd                                    | CUSIP: YX8916133<br>LEI: 254900HEGGDS8WU5QZ97 | Long             | DBT              | CORP              | KY        |    550000 | PA      | $612148.95    | 0.13%             | 2031-07-02      | Fixed         | 7.63%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer