# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0001193125-26-285193
**Filing Date:** 2026-6
**Character Count:** 67351
**Document Hash:** e60abc27e673227129239b09948a4fba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-285193.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001193125-26-285193

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20261031

**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:** 261127836

**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

### AAM SLC Low Duration Income ETF (Series ID: S000088945)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000255346 | AAM SLC Low Duration Income ETF | LODI            |

## 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:** AAM SLC Low Duration Income ETF

- **b. EDGAR series identifier (if any):** S000088945

- **c. LEI of Series:** 529900NTIQ8M1K4PAC68

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

- **a. Date of fiscal year-end:** 2026-10-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $80712865.22

**Total Liabilities:** $345769.31

**Net Assets:** $80367095.91

**Cash Not Reported:** $0.24

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1992.276599000000 | **1-Year:** 7817.030762000000 | **5-Year:** 5404.669421000000 | **10-Year:** 32.559156000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 522.816110000000 | **1-Year:** 1817.076281000000 | **5-Year:** 892.252522000000 | **10-Year:** 33.114571000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255346 | 0.54%                | -0.56%               | 0.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15991.56                | $75800.26                                  |
| Month 2  | $-24026.29               | $-721878.47                                |
| Month 3  | $-5184.07                | $68370.65                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BWAY Mortgage Trust            | BWAY 2013-1515 Mortgage Trust                        | CUSIP: 05604FAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $301012.47    | 0.37%             | 2033-03-10      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur | Bridgecrest Lending Auto Securitization Trust 2025-3 | CUSIP: 107920AG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    340000 | PA      | $338371.73    | 0.42%             | 2032-05-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur | Bridgecrest Lending Auto Securitization Trust 2026-2 | CUSIP: 10807VAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255000 | PA      | $254220.15    | 0.32%             | 2032-02-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2016-C35       | CUSIP: 95000FAV8<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $497174.66    | 0.62%             | 2048-07-15      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2024-5           | CUSIP: 30165BAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $502582.72    | 0.63%             | 2031-02-18      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2023-5           | CUSIP: 30168DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180000 | PA      | $184916.72    | 0.23%             | 2030-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2025-2           | CUSIP: 30168JAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $515846.70    | 0.64%             | 2032-10-15      | Fixed         | 7.81%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2024-X2            | CUSIP: 00833QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $754711.31    | 0.94%             | 2029-12-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2025-X1            | CUSIP: 00834MAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $216756.89    | 0.27%             | 2030-04-15      | Fixed         | 6.11%                 | No            |                  2 | On Loan: No      |
| ALA Trust                      | ALA Trust 2025-OANA                                  | CUSIP: 009920AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190000 | PA      | $190281.55    | 0.24%             | 2040-06-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust   | Drive Auto Receivables Trust 2025-S1                 | CUSIP: 26210HAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    296423 | PA      | $296554.38    | 0.37%             | 2029-06-16      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust            | DT Auto Owner Trust 2021-4                           | CUSIP: 26253WAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    222923 | PA      | $222737.59    | 0.28%             | 2027-09-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust                  | CUSIP: 30166XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    365000 | PA      | $368644.37    | 0.46%             | 2031-10-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust   | GS Mortgage Securities Trust 2017-GS8                | CUSIP: 36254KAT9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170000 | PA      | $157969.11    | 0.20%             | 2050-11-10      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd | Golub Capital Partners Clo 45M Ltd                   | CUSIP: 381931AC8<br>LEI: 254900SGGS5FSVUNJG17 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000136.10   | 1.24%             | 2037-07-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                   | Hudson Yards 2025-SPRL Mortgage Trust                | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $383809.42    | 0.48%             | 2040-01-13      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2016-C37       | CUSIP: 95000PAK0<br>LEI: 549300TRQQDPEF728F16 | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $593733.21    | 0.74%             | 2049-12-15      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2016-C37       | CUSIP: 95000PAX2<br>LEI: 549300TRQQDPEF728F16 | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $368187.07    | 0.46%             | 2049-12-15      | Variable      | 3.34%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2018-C47       | CUSIP: 95002DAC3<br>LEI: 549300VHRKFNCWVN9Y77 | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $128324.39    | 0.16%             | 2061-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2018-C47       | CUSIP: 95002DBX6<br>LEI: 549300VHRKFNCWVN9Y77 | Long             | ABS-MBS          | CORP              | US        |    180000 | PA      | $169545.97    | 0.21%             | 2061-09-15      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| Westgate Resorts               | Westgate Resorts 2023-1 LLC                          | CUSIP: 96033EAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    384889 | PA      | $388456.40    | 0.48%             | 2037-12-20      | Fixed         | 7.49%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable | Westlake Automobile Receivables Trust 2023-4         | CUSIP: 96041AAN6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $159472.14    | 0.20%             | 2029-07-16      | Fixed         | 7.19%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable | Westlake Automobile Receivables Trust 2023-3         | CUSIP: 96041CAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2037427.37   | 2.54%             | 2029-03-15      | Fixed         | 6.47%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable | Westlake Automobile Receivables Trust 2025-2         | CUSIP: 96041KAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55000 | PA      | $55067.65     | 0.07%             | 2031-05-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable | Westlake Automobile Receivables Trust 2024-1         | CUSIP: 96043RAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1019087.26   | 1.27%             | 2029-10-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable | Westlake Automobile Receivables Trust 2025-1         | CUSIP: 96043VAH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $227231.59    | 0.28%             | 2030-11-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| AGL CLO 16 LTD                 | AGL CLO 16 Ltd                                       | CUSIP: 00120LAL2<br>LEI: 2549009GL17CEZFCKZ48 | Long             | ABS-CBDO         | CORP              | KY        |    510000 | PA      | $498316.41    | 0.62%             | 2035-01-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                   | AGL CLO 11 Ltd                                       | CUSIP: 00851TAW6<br>LEI: 549300G9RL3BICT9HA62 | Long             | ABS-CBDO         | CORP              | KY        |    345000 | PA      | $346117.77    | 0.43%             | 2038-10-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| ALA Trust                      | ALA Trust 2025-OANA                                  | CUSIP: 009920AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $120426.20    | 0.15%             | 2040-06-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC             | Ally Financial Inc                                   | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    290000 | PA      | $294473.22    | 0.37%             | 2029-05-15      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2025-C                    | CUSIP: 12634SAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    510000 | PA      | $503320.03    | 0.63%             | 2033-02-15      | Fixed         | 6.59%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2026-B                    | CUSIP: 12676XAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $388808.98    | 0.48%             | 2032-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2026-A                    | CUSIP: 22410MAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $474722.42    | 0.59%             | 2032-06-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2024-A                    | CUSIP: 22411CAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1016923.08   | 1.27%             | 2030-04-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2025-4  | CUSIP: 024948AG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    315000 | PA      | $315036.97    | 0.39%             | 2031-09-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2025-1  | CUSIP: 02528DAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $512459.32    | 0.64%             | 2032-12-13      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2026-1  | CUSIP: 02531FAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $203928.22    | 0.25%             | 2033-01-12      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Pagaya Point of Sale Holdings  | Pagaya Point of Sale Holdings Grantor Trust 2025-1   | CUSIP: 694951AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $507251.65    | 0.63%             | 2034-01-20      | Fixed         | 11.28%                | No            |                  2 | On Loan: No      |
| Pagaya Point of Sale Holdings  | Pagaya Point of Sale Holdings Grantor Trust 2025-1   | CUSIP: 694952AH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $145877.51    | 0.18%             | 2034-01-20      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-R2                 | CUSIP: 69544VAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    237997 | PA      | $234968.00    | 0.29%             | 2032-10-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2025-4                          | CUSIP: 69547DAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    199993 | PA      | $201033.14    | 0.25%             | 2033-01-17      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-5                  | CUSIP: 69548WAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    129995 | PA      | $129779.95    | 0.16%             | 2033-03-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya Ai Debt Grantor Trust 2025-6                  | CUSIP: 69549BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    639941 | PA      | $633989.87    | 0.79%             | 2033-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-R3                 | CUSIP: 69549EAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    454396 | PA      | $452560.96    | 0.56%             | 2033-01-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC       | Patterson-UTI Energy Inc                             | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    525000 | PA      | $516757.65    | 0.64%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC       | Prudential Financial Inc                             | CUSIP: 744320AW2<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    890000 | PA      | $870882.70    | 1.08%             | 2047-09-15      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2025-4             | CUSIP: 36273HAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $368450.77    | 0.46%             | 2031-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2026-1             | CUSIP: 36274AAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    515000 | PA      | $510157.83    | 0.63%             | 2031-12-15      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| RFM RE-REMIC TRUST 2022-FRR1   | RFM Reremic Trust 2022-FRR1                          | CUSIP: 74971BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $259081.65    | 0.32%             | 2049-03-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| RFM RE-REMIC TRUST 2022-FRR1   | RFM Reremic Trust 2022-FRR1                          | CUSIP: 74971BAY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $338371.04    | 0.42%             | 2050-03-01      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | Consumer Portfolio Services Auto Trust 2025-B        | CUSIP: 12630SAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    635000 | PA      | $640505.52    | 0.80%             | 2031-07-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO       | Columbia Pipelines Holding Co LLC                    | CUSIP: 19828AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    545000 | PA      | $562169.50    | 0.70%             | 2028-08-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD FINANCL CORP       | Fifth Third Financial Corp                           | CUSIP: 200340AW7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $531072.10    | 0.66%             | 2030-01-30      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC       | Corebridge Financial Inc                             | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1217783.68   | 1.52%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS         | Repsol E&P Capital Markets US LLC                    | CUSIP: 76026AAA5<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    285000 | PA      | $285936.40    | 0.36%             | 2028-09-16      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA         | Santander Holdings USA Inc                           | CUSIP: 80282KBC9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    560000 | PA      | $551709.15    | 0.69%             | 2028-01-06      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co  | Sierra Timeshare 2025-3 Receivables Funding LLC      | CUSIP: 82650FAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    204366 | PA      | $200611.41    | 0.25%             | 2044-08-22      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS       | South Bow USA Infrastructure Holdings LLC            | CUSIP: 83007CAD4<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352318.58    | 0.44%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRU | SoFi Consumer Loan Program 2025-4 Trust              | CUSIP: 83405UAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    490000 | PA      | $490242.48    | 0.61%             | 2035-08-25      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRU | SoFi Consumer Loan Program Trust 2026-1              | CUSIP: 83408AAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $477058.13    | 0.59%             | 2035-12-26      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | Consumer Portfolio Services Auto Trust 2025-D        | CUSIP: 223936AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $216308.29    | 0.27%             | 2032-02-17      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus | CSAIL 2021-C20 Commercial Mortgage Trust             | CUSIP: 22945EBA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $300251.30    | 0.37%             | 2054-03-15      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                          | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    510000 | PA      | $506393.77    | 0.63%             | 2028-03-15      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd | Golub Capital Partners CLO 78M                       | CUSIP: 381934AJ7<br>LEI: 254900PSE4IZIZUH7U62 | Long             | ABS-CBDO         | CORP              | US        |    195000 | PA      | $193981.96    | 0.24%             | 2039-04-21      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| DLIC Re-REMIC Trust            | DLIC Re-REMIC Trust 2025-FRR1                        | CUSIP: 255928AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $316396.42    | 0.39%             | 2049-08-27      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust   | Drive Auto Receivables Trust 2025-2                  | CUSIP: 262103AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $308539.29    | 0.38%             | 2032-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2025-5           | CUSIP: 30166VAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    765000 | PA      | $765497.61    | 0.95%             | 2032-03-15      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2026-2           | CUSIP: 30166WAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $381578.17    | 0.47%             | 2032-08-16      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2026-1           | CUSIP: 30168HAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $163115.29    | 0.20%             | 2032-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FS Commerical Mortgage Trust 2 | FS Commercial Mortgage Trust 2023-4SZN               | CUSIP: 30334RAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670000 | PA      | $678132.80    | 0.84%             | 2039-11-10      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| FIVE 2023-V1                   | FIVE 2023-V1 Mortgage Trust                          | CUSIP: 337964AG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $453219.89    | 0.56%             | 2056-02-10      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| FIVE 2023-V1                   | FIVE 2023-V1 Mortgage Trust                          | CUSIP: 337964AP5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $291939.74    | 0.36%             | 2056-02-10      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                             | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    260000 | PA      | $258593.67    | 0.32%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust       | Foundation Finance Trust 2021-1                      | CUSIP: 35041LAD2<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |    135138 | PA      | $131690.97    | 0.16%             | 2041-05-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust       | Foundation Finance Trust 2021-2                      | CUSIP: 35042PAD2<br>LEI: 54930021B3TF4B4HKE86 | Long             | ABS-O            | CORP              | US        |    141872 | PA      | $140634.26    | 0.17%             | 2042-01-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust       | Foundation Finance Trust 2025-3                      | CUSIP: 35042TAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $475364.44    | 0.59%             | 2052-08-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| NXPA Re-REMIC Trust            | NXPA Re-REMIC Trust 2026-FRR1                        | CUSIP: 62957WAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $475637.25    | 0.59%             | 2049-12-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| OWS Real Estate Finance LLC    | OWS Real Estate Finance LLC                          | CUSIP: 67121XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $235074.03    | 0.29%             | 2034-08-15      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2023-2                      | CUSIP: 67571QAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $764828.82    | 0.95%             | 2031-06-20      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                          | CUSIP: 68389XCY9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149786.32    | 0.19%             | 2028-08-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC         | Pacific Gas and Electric Co                          | CUSIP: 694308JF5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    595000 | PA      | $578017.42    | 0.72%             | 2027-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-11                 | CUSIP: 69544AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    608680 | PA      | $610646.20    | 0.76%             | 2032-07-15      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-5                  | CUSIP: 69544LAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    394078 | PA      | $394470.91    | 0.49%             | 2031-10-15      | Fixed         | 7.27%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-1                  | CUSIP: 69544NAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90524 | PA      | $90780.29     | 0.11%             | 2032-07-15      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-3                  | CUSIP: 69544TAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    169966 | PA      | $171136.45    | 0.21%             | 2032-12-15      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-5                  | CUSIP: 69546WAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    177585 | PA      | $177778.36    | 0.22%             | 2031-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL            | Synchrony Financial                                  | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144960.90    | 0.18%             | 2029-07-29      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Taubman Centers Commercial Mor | TCO Commercial Mortgage Trust 2024-DPM               | CUSIP: 87231EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $575717.90    | 0.72%             | 2039-12-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust  | UBS Commercial Mortgage Trust 2017-C3                | CUSIP: 90276GAY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $584118.75    | 0.73%             | 2050-08-15      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                     | CUSIP: 91282CHF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    115000 | PA      | $113984.77    | 0.14%             | 2030-05-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2025-1             | CUSIP: 36271KAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | PA      | $1160253.22   | 1.44%             | 2032-03-15      | Fixed         | 7.19%                 | No            |                  2 | On Loan: No      |
| Gam Resecuritization Trust     | GAM RE-REMIC Trust 2022-FRR3                         | CUSIP: 36459DCG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    980000 | PA      | $884964.89    | 1.10%             | 2050-11-27      | Variable      | 1.34%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                     | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3850000 | PA      | $3926097.66   | 4.89%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                     | CUSIP: 91282CNH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2360000 | PA      | $2359446.88   | 2.94%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU       | Venture Global Calcasieu Pass LLC                    | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    360000 | PA      | $344782.72    | 0.43%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2025-12                   | CUSIP: 92490FAN0<br>LEI: 2138009XAW9T934GL239 | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $218111.55    | 0.27%             | 2070-12-25      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2025-11                   | CUSIP: 924935AJ8<br>LEI: 213800H1O4C5SRNN4B66 | Long             | ABS-MBS          | CORP              | US        |    503118 | PA      | $500271.99    | 0.62%             | 2070-11-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2024-2                    | CUSIP: 92539UAE0<br>LEI: 213800KSJFZ5H8FZ7C61 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $253489.04    | 0.32%             | 2069-02-25      | Variable      | 7.86%                 | No            |                  2 | On Loan: No      |
| Gam Resecuritization Trust     | GAM RE-REMIC Trust 2022-FRR3                         | CUSIP: 36459DCN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $239619.13    | 0.30%             | 2052-01-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Gam Resecuritization Trust     | GAM RE-REMIC TRUST 2021-FRR2                         | CUSIP: 36459TBW5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255000 | PA      | $223750.39    | 0.28%             | 2051-09-27      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2025-1                    | CUSIP: 92540TAC4<br>LEI: 213800JOKZMXZECMAB50 | Long             | ABS-MBS          | CORP              | US        |    189517 | PA      | $190432.76    | 0.24%             | 2070-01-25      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2026-1                    | CUSIP: 92541JAN1<br>LEI: 2138009KJR7Q44BI8668 | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $221651.33    | 0.28%             | 2071-01-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC           | Glencore Funding LLC                                 | CUSIP: 378272BY3<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    390000 | PA      | $392570.15    | 0.49%             | 2028-04-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2025-2             | CUSIP: 37989BAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $166744.22    | 0.21%             | 2031-01-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES          | Huntington Bancshares Inc/OH                         | CUSIP: 446150BB9<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499506.63    | 0.62%             | 2028-08-04      | Variable      | 4.44%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                   | Hudson Yards 2025-SPRL Mortgage Trust                | CUSIP: 44855PAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $404761.13    | 0.50%             | 2040-01-13      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu | JPMBB Commercial Mortgage Securities Trust 2015-C28  | CUSIP: 46644FAX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $383926.73    | 0.48%             | 2048-10-15      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL       | Jackson National Life Global Funding                 | CUSIP: 46849LVA6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |    240000 | PA      | $242434.68    | 0.30%             | 2027-07-02      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                     | CUSIP: 50212YAN4<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    650000 | PA      | $651770.98    | 0.81%             | 2028-04-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| LV Trust                       | Fashion Show Mall LLC                                | CUSIP: 50245XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501567.58    | 0.62%             | 2041-10-10      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP           | Las Vegas Sands Corp                                 | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252539.80    | 0.31%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                | MVW 2021-1W LLC                                      | CUSIP: 55389TAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    102192 | PA      | $98722.80     | 0.12%             | 2041-01-22      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| Madison Avenue Trust           | MAD Commercial Mortgage Trust 2025-11MD              | CUSIP: 55616AAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    570000 | PA      | $572578.20    | 0.71%             | 2042-10-15      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| Madison Avenue Trust           | MAD Commercial Mortgage Trust 2025-11MD              | CUSIP: 55616AAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    415000 | PA      | $419121.22    | 0.52%             | 2042-10-15      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd       | Madison Park Funding XXXVI Ltd                       | CUSIP: 55819PBJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $934367.40    | 1.16%             | 2035-04-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Montauk Park CLO Ltd           | Montauk Park CLO Ltd                                 | CUSIP: 61218AAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    515000 | PA      | $518703.37    | 0.65%             | 2039-04-24      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust 2018-L1               | CUSIP: 61691QAK4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    386000 | PA      | $355549.93    | 0.44%             | 2051-10-15      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                | MVW 2024-1 LLC                                       | CUSIP: 62847RAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    101334 | PA      | $103365.59    | 0.13%             | 2043-02-20      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                       | CUSIP: 629377CL4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    525000 | PA      | $517524.52    | 0.64%             | 2029-06-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman Loan Advisers CLO 35 Ltd            | CUSIP: 64133CAW9<br>LEI: 549300MYVO80EQUJK294 | Long             | ABS-CBDO         | CORP              | KY        |    535000 | PA      | $535000.00    | 0.67%             | 2033-01-19      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL         | NextEra Energy Capital Holdings Inc                  | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    550000 | PA      | $564189.72    | 0.70%             | 2054-09-01      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC              | NatWest Group PLC                                    | CUSIP: 780097BP5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $542177.50    | 0.67%             | 2028-05-22      | Variable      | 3.07%                 | No            |                  2 | On Loan: No      |
| SEMPRA                         | Sempra                                               | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160793.72    | 0.20%             | 2055-04-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Po | Invesco Government & Agency Portfolio                | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |   2756701 | NS      | $2756700.56   | 3.43%             | 2031-12-31      | Fixed         | 0.06%                 | No            |                  1 | On Loan: No      |
| DELTA AIR LINES/SKYMILES       | Delta Air Lines Inc / SkyMiles IP Ltd                | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    537500 | PA      | $537898.90    | 0.67%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP             | Expand Energy Corp                                   | CUSIP: 845467AR0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    720000 | PA      | $720182.31    | 0.90%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AS MILEAGE PLAN IP LTD         | AS Mileage Plan IP Ltd                               | CUSIP: 00218QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    520000 | PA      | $514852.38    | 0.64%             | 2029-10-20      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD       | Avolon Holdings Funding Ltd                          | CUSIP: 05401AAR2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    303000 | PA      | $293537.60    | 0.37%             | 2027-11-18      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch  | BAMLL Re-REMIC Trust 2024-FRR3                       | CUSIP: 054988AE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $714374.25    | 0.89%             | 2050-01-27      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2017-BNK5                                       | CUSIP: 06541WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    455000 | PA      | $405702.40    | 0.50%             | 2060-06-15      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd               | CIFC Funding 2019-III Ltd                            | CUSIP: 12554VBC9<br>LEI: 254900SVOWCOSOG16T40 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001257.30   | 1.25%             | 2038-01-16      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| CHI Commercial Mortgage Trust  | CHI Commercial Mortgage Trust 2025-110W              | CUSIP: 12577HAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $233505.88    | 0.29%             | 2040-12-13      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P4               | CUSIP: 14076LAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    395000 | PA      | $394842.04    | 0.49%             | 2032-12-10      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CBAMR Ltd                      | CBAMR 2019-11R Ltd                                   | CUSIP: 14988AAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    275000 | PA      | $275378.90    | 0.34%             | 2038-03-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| CITADEL FINANCE LLC            | Citadel Finance LLC                                  | CUSIP: 17287HAE0<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |    900000 | PA      | $885857.67    | 1.10%             | 2029-02-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage  | Citigroup Commercial Mortgage Trust 2016-C1          | CUSIP: 17290YAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $173518.35    | 0.22%             | 2049-05-10      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2024-2                    | CUSIP: 92539UAF7<br>LEI: 213800KSJFZ5H8FZ7C61 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $303225.59    | 0.38%             | 2069-02-25      | Variable      | 8.67%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2024-1                    | CUSIP: 92540EAE3<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |    585000 | PA      | $590776.70    | 0.74%             | 2069-01-25      | Variable      | 7.91%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE         | VICI Properties LP / VICI Note Co Inc                | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $263385.85    | 0.33%             | 2027-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA       | Volkswagen Group of America Finance LLC              | CUSIP: 928668CP5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    650000 | PA      | $654243.85    | 0.81%             | 2028-03-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| RIDE 2025-SHRE                 | RIDE 2025-SHRE                                       | CUSIP: 765692AG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $237493.66    | 0.30%             | 2047-02-14      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl | Santander Drive Auto Receivables Trust 2024-2        | CUSIP: 80286YAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1022287.75   | 1.27%             | 2031-08-15      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl | Santander Drive Auto Receivables Trust 2026-1        | CUSIP: 80288FAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240000 | PA      | $235811.87    | 0.29%             | 2032-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl | Santander Drive Auto Receivables Trust 2025-4        | CUSIP: 802923AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90000 | PA      | $89244.25     | 0.11%             | 2032-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2026-2  | CUSIP: 02528FAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    855000 | PA      | $851073.65    | 1.06%             | 2032-06-08      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Antares CLO                    | Antares CLO 2023-1 Ltd                               | CUSIP: 03665GAP9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    605000 | PA      | $605115.31    | 0.75%             | 2037-07-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                           | CUSIP: 04020EAG2<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    760000 | PA      | $760371.19    | 0.95%             | 2028-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Secur | BHG Securitization Trust 2026-1CON                   | CUSIP: 05494TAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230000 | PA      | $229277.60    | 0.29%             | 2036-06-17      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS 2018-TALL Mortgage Trust                       | CUSIP: 05548WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330000 | PA      | $312245.55    | 0.39%             | 2037-03-15      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS 2018-TALL Mortgage Trust                       | CUSIP: 05548WAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $445142.77    | 0.55%             | 2037-03-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2024-5C25                       | CUSIP: 05554VAK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $361396.17    | 0.45%             | 2057-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust             | BMO 2024-5C5 Mortgage Trust                          | CUSIP: 05593RAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $436970.44    | 0.54%             | 2057-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOFAS Re-REMIC Trust           | BOFAS Re-REMIC Trust 2026-FRR7                       | CUSIP: 05620CBJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $651625.35    | 0.81%             | 2052-07-27      | Variable      | 1.55%                 | No            |                  2 | On Loan: No      |
| Bank5                          | BANK5 2024-5YR8                                      | CUSIP: 065923AC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $357295.42    | 0.44%             | 2057-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                   | Barclays PLC                                         | CUSIP: 06738ECP8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $504725.48    | 0.63%             | 2028-03-12      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2024-5C31                       | CUSIP: 07336YAR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    930000 | PA      | $813646.69    | 1.01%             | 2057-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2025-V13 Mortgage Trust                    | CUSIP: 08164AAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $292546.84    | 0.36%             | 2058-02-15      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2024-V6 Mortgage Trust                     | CUSIP: 081927AF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $620766.26    | 0.77%             | 2057-03-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund                       | CUSIP: 09261HAD9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    530000 | PA      | $522224.08    | 0.65%             | 2026-12-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BLACKROCK LTD                  | BlackRock Shasta CLO XIII LLC                        | CUSIP: 09263EAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    900000 | PA      | $900589.77    | 1.12%             | 2036-07-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust             | BMO 2024-5C8 Mortgage Trust                          | CUSIP: 09661XAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $446040.01    | 0.56%             | 2057-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRCK Trust                     | BRCK Trust 2025-830B                                 | CUSIP: 10635AAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $139527.02    | 0.17%             | 2042-12-10      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| BRCK Trust                     | BRCK Trust 2025-830B                                 | CUSIP: 10635AAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $498561.40    | 0.62%             | 2042-12-10      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur | Bridgecrest Lending Auto Securitization Trust 2025-2 | CUSIP: 10807HAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    545000 | PA      | $550563.02    | 0.69%             | 2031-03-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur | Bridgecrest Lending Auto Securitization Trust 2025-2 | CUSIP: 10807HAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $768090.60    | 0.96%             | 2032-06-15      | Fixed         | 7.74%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                          | CUSIP: 69120VAP6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    475000 | PA      | $484021.43    | 0.60%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-26

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** President